- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Is it smart to buy a car at 0% and no money down. Is there something I'm missing here?
Posted on 2/12/18 at 2:29 pm
Posted on 2/12/18 at 2:29 pm
We were planning on putting 20% down. But we can get 0% with no money down. What's the downside of this? Is there any besides upside down?
What's the smart financial decision here money board. Thanks for all responses. Even those who hate me.
What's the smart financial decision here money board. Thanks for all responses. Even those who hate me.
10
Posted on 2/12/18 at 2:29 pm to YoungManOldMan
What is the length of loan
This post was edited on 2/12/18 at 2:30 pm
Posted on 2/12/18 at 2:31 pm to YoungManOldMan
seems like a good idea, especially if you can take that money you were going to spend on a downpayment and invest elsewhere.
But from a car price standpoint, it seems like you're getting boned elsewhere. Are you giving up a rebate or something to get this?
But from a car price standpoint, it seems like you're getting boned elsewhere. Are you giving up a rebate or something to get this?
Posted on 2/12/18 at 2:44 pm to YoungManOldMan
quote:
Is it smart to buy a car at 0% and no money down. Is there something I'm missing here?
Not missing anything. We did it 2 years ago with Ford. Many car companies seem to offer this these days.
Posted on 2/12/18 at 3:20 pm to YoungManOldMan
if you are fine with the monthly payment/overall cost then no downside
Posted on 2/12/18 at 3:30 pm to YoungManOldMan
quote:
What's the downside of this?
Based on your answers so far, there isn't one.
Posted on 2/12/18 at 3:59 pm to YoungManOldMan
Negotiate the price after telling them you're putting 20% down and you'll finance it with them and then after arriving at their best price tell them you want that price with 0% down.
Posted on 2/12/18 at 4:02 pm to YoungManOldMan
You will be upside down on the loan when you drive off the lot. Make sure you have enough insurance.
Posted on 2/12/18 at 6:49 pm to YoungManOldMan
I have done this several times. As others have mentioned, you will be upside down once you drive the car of off the lot. However, that should not be too much of a problem since you have the money that you would put down.
When I purchased my first car following 9/11, I was going to put $20k down. But they started offering 0% interest for 36 months. I decided to put nothing down and invest the $20k. But instead I left it in savings. About a year later, I wondered where most of the $20k went. The moral of the story is pay the down payment if you don’t have the discipline to save or invest the money.
When I purchased my first car following 9/11, I was going to put $20k down. But they started offering 0% interest for 36 months. I decided to put nothing down and invest the $20k. But instead I left it in savings. About a year later, I wondered where most of the $20k went. The moral of the story is pay the down payment if you don’t have the discipline to save or invest the money.
Posted on 2/12/18 at 7:04 pm to YoungManOldMan
Financing makes you stretch your budget more than buying for cash, or with a significant down payment. If you had 40k cash, would you part with it for the same car, or buy something more modest?
Posted on 2/13/18 at 11:52 am to YoungManOldMan
tell them you are paying cash for the vehicle. then when they get to a price, see if they keep that same price for 0% down 0% interest
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News