Don’t take out a car loan before doing your homework.
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hey bglad4life, what’s the difference in making 0% interest on a 3 year loan, (most dealers offer 0% on 1 year old models still left on the lot just to get rid of them quick) or paying cash that you saved for the same amount of time??! “DUH!!!!”
I talked my salesman down from 18k to 14.3k. THEY WILL GO LOWER! And cash to them means immediate paychecks. My beater made it round trip 30 miles each day for 3 years. Not bad for 300 bucks! I’m not trying to keep up with the jones’ either, I just want a car that can get me and family from Idaho to Illinois a few times a year so we can quit renting them.
nothing wrong w/ popping cash for a new car. although most dealers don’t like cash buyers and will not go as low on price if you’re cash. also, like people who get a new job that requires more travel might not necessarily trust their beater to take the sudden increase in travel. although of course, they could probably pick up a second beater for much cheaper. but if we all stop trying to keep up with the jones’, they’ll stop trying to be ahead and that’s never fun…
ouch, sucks for them. if they’re a first-timer and trying to establish a history, maybe in a few months they can go by a credit union or something and get something better for them.
the loan amount is for 98%, but the interest pushes the true amount paid over 100%. also, keep in mind that the instant you sign the paper, the car drops value. and also, many dealers “install options” that have drastically inflated prices and if those are included in car price, then they’ll “cut you a deal and throw in ___ for free.”
and if you mean apr, then 2% apr is also quite lucrative either way.
For everyone who finaces a car…….DUH!!!!
If you can’t afford a new car without finacing, DON”T BUY ONE! I saved for 3 years until I had the money to buy what I wanted. I paid CASH for my new car. Until then, I drove a beater that I paid $300 for. If you want to finance, you are paying MUCH more than what you need to. All it does is extend your debt even further.
True that. In relation to this video though. Doing this much research, keeping track of your finances.. put that effort in finding a decent second hand car with less gass intake and good milage.. I think you got a done deal. Test drive.. someone with you that knows how to spot faulty aspects of the car.
A friend of mine brought a friend who does the yearly check-up. Is that APR you are talking about? Anyway.. point made.
2% Off? Wow, all that trouble for 2% Eh? .. Isn’t it just better to get a lower costing automobile and polish it up just a little.. it all matters what’s inside the car.
March 19th, 2010 at 10:01 pm
agreed, very true
March 19th, 2010 at 10:22 pm
http://unitedstatesofscamerica.blogspot.com/2010/03/not-free-credit-report-dot-com.html
March 19th, 2010 at 10:25 pm
If you cant afford to pay cash for a $20K cash one for $2K.
March 19th, 2010 at 11:22 pm
Go credit!!! no really just save some moeny dont loan!
March 19th, 2010 at 11:57 pm
Financing is stupid. If you cant pay cash, then you can’t afford it. People are just too scared to save and wait for what they want.
March 20th, 2010 at 12:54 am
2001 viewer
March 20th, 2010 at 1:09 am
How to finance a car – have money! If you don’t – SAVE!!! Stop this credit crap! America is in enough trouble!
March 20th, 2010 at 1:36 am
hey bglad4life, what’s the difference in making 0% interest on a 3 year loan, (most dealers offer 0% on 1 year old models still left on the lot just to get rid of them quick) or paying cash that you saved for the same amount of time??! “DUH!!!!”
March 20th, 2010 at 2:16 am
howcast needs to make a “how ti wipe your ass” video
March 20th, 2010 at 2:50 am
annualcreditreport . com?
but free credit report has the cool song =[
March 20th, 2010 at 2:54 am
second
March 20th, 2010 at 3:40 am
Maybe. But then again, this girl probably has no credit or bad credit. Either way, she got roooooooooooooolled.
March 20th, 2010 at 4:07 am
I talked my salesman down from 18k to 14.3k. THEY WILL GO LOWER! And cash to them means immediate paychecks. My beater made it round trip 30 miles each day for 3 years. Not bad for 300 bucks! I’m not trying to keep up with the jones’ either, I just want a car that can get me and family from Idaho to Illinois a few times a year so we can quit renting them.
March 20th, 2010 at 4:13 am
nothing wrong w/ popping cash for a new car. although most dealers don’t like cash buyers and will not go as low on price if you’re cash. also, like people who get a new job that requires more travel might not necessarily trust their beater to take the sudden increase in travel. although of course, they could probably pick up a second beater for much cheaper. but if we all stop trying to keep up with the jones’, they’ll stop trying to be ahead and that’s never fun…
March 20th, 2010 at 4:57 am
ouch, sucks for them. if they’re a first-timer and trying to establish a history, maybe in a few months they can go by a credit union or something and get something better for them.
March 20th, 2010 at 5:53 am
the loan amount is for 98%, but the interest pushes the true amount paid over 100%. also, keep in mind that the instant you sign the paper, the car drops value. and also, many dealers “install options” that have drastically inflated prices and if those are included in car price, then they’ll “cut you a deal and throw in ___ for free.”
and if you mean apr, then 2% apr is also quite lucrative either way.
March 20th, 2010 at 6:49 am
For everyone who finaces a car…….DUH!!!!
If you can’t afford a new car without finacing, DON”T BUY ONE! I saved for 3 years until I had the money to buy what I wanted. I paid CASH for my new car. Until then, I drove a beater that I paid $300 for. If you want to finance, you are paying MUCH more than what you need to. All it does is extend your debt even further.
March 20th, 2010 at 7:20 am
What you pay up front before you take it home.
March 20th, 2010 at 8:18 am
Great tips as always! (Even though I can’t drive XD)
March 20th, 2010 at 8:37 am
whats a down payment
March 20th, 2010 at 8:44 am
7th
March 20th, 2010 at 8:44 am
True that. In relation to this video though. Doing this much research, keeping track of your finances.. put that effort in finding a decent second hand car with less gass intake and good milage.. I think you got a done deal. Test drive.. someone with you that knows how to spot faulty aspects of the car.
A friend of mine brought a friend who does the yearly check-up. Is that APR you are talking about? Anyway.. point made.
March 20th, 2010 at 9:20 am
4th
March 20th, 2010 at 9:42 am
Some people don’t know how to get a good rate, and end up paying 12% APR. That happened to a dumb person I know…
March 20th, 2010 at 9:53 am
2% Off? Wow, all that trouble for 2% Eh? .. Isn’t it just better to get a lower costing automobile and polish it up just a little.. it all matters what’s inside the car.
March 20th, 2010 at 9:56 am
Ty!