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Started By
Message
thoughts on down payment for new car
Posted on 12/4/12 at 5:12 pm
Posted on 12/4/12 at 5:12 pm
ok guys need some advice
looking for a new car(new as in new to us), could be brand new or less than 30k miles
we've saved about 3,500 and ive heard two arguments on putting money down, half say to do it, half say dont
what say you??
looking for a new car(new as in new to us), could be brand new or less than 30k miles
we've saved about 3,500 and ive heard two arguments on putting money down, half say to do it, half say dont
what say you??
5
Posted on 12/4/12 at 5:24 pm to dallastiger55
Depending on your credit score and debt-to-income ratio you might not have a choice.
Most will require some amount of down payment. If you can get an interest rate <1.0% then I would consider lowering the DP if you need the money now.
There are alot more variables surronding your personal finances that will affect the monthly payment that is best for you.
Most will require some amount of down payment. If you can get an interest rate <1.0% then I would consider lowering the DP if you need the money now.
There are alot more variables surronding your personal finances that will affect the monthly payment that is best for you.
Posted on 12/4/12 at 5:42 pm to dallastiger55
quote:
we've saved about 3,500
quote:
for new car
Is that your total savings or specified savings for a car down payment.
Either way, you probably can't afford a brand new car. In the latter, you definitely can't.
ETA: What ever happened with this?
LINK
This post was edited on 12/4/12 at 5:46 pm
Posted on 12/4/12 at 5:49 pm to dallastiger55
Pay down. Financing a vehicle, while for many is a necessity, is still a bad investment. Pay down to reduce interest expense, and work toward the ability to complete a cash purchase in the future.
Posted on 12/4/12 at 7:39 pm to dallastiger55
I always pay the TT&L and then usually put 10% downpayment. otal usually is between $6000-7000 total payment at time of purchase.
TT&L=$2700.
TT&L=$2700.
Posted on 12/4/12 at 7:55 pm to dallastiger55
BUY USED
PAY CASH
PAY CASH
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