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2
Posted on 4/13/19 at 11:24 am to Fat Bastard
I don’t get why you and others in this thread feel the need to laugh at and/or bash OP for asking this question. Based on what I recall of your post history, your advice would be welcomed.
Why laugh at him and point out that he has bigger issues? If true, he is probably already aware of them and is seeking advice from others who are more versed in financial matters so that the issues don’t become bigger.
Why laugh at him and point out that he has bigger issues? If true, he is probably already aware of them and is seeking advice from others who are more versed in financial matters so that the issues don’t become bigger.
Posted on 4/13/19 at 4:40 pm to Fat Bastard
What if he got a good interest rate and he can invest that money at a higher rate? In that case he wouldn’t have “bigger issues” but would be quite smart.
I don’t understand why long term, low interest rate loans are so looked down upon, whether it be a car, or anything else.
I don’t understand why long term, low interest rate loans are so looked down upon, whether it be a car, or anything else.
Posted on 4/13/19 at 8:41 pm to JOJO Hammer
quote:
I’m more concerned about why someone would finance $6,100?
yep. exactly.
the people saying but what if he can get a low interest loan and invest the rest........do not get it and i won't explain it to them. Maybe we are just on different tiers and mindsets.
now if we are talking a expensive car? 100k? sure finance. house? sure finance! but 8k?
shite i'd drop 30k cash on this baby if i wanted to. i am not financing a used car, not even this one. now financing this is fine if someone wanted to. sure. but if i want a used toy I had best have cash unless we are talking a motor home, lear jet or a yacht.
LINK
This post was edited on 4/13/19 at 9:04 pm
Posted on 4/14/19 at 7:46 pm to Fat Bastard
How is a maserati with 35000 miles 29,000$ . Thought that would be more
Posted on 4/14/19 at 10:25 pm to lsumatt
quote:
What if he got a good interest rate and he can invest that money at a higher rate? In that case he wouldn’t have “bigger issues” but would be quite smart.
I don’t understand why long term, low interest rate loans are so looked down upon, whether it be a car, or anything else.
Because you are not going to get anything resembling low interest on a 07 vehicle, in fact it is likely over 12%.
OP would likely be much better off taking a personal loan but this reads like that is not a viable option.
I could be wrong but this is the impression I got from the limited info.
No to GAP insurance, OP you are already going to pay full coverage on a 12 year old vehicle for the length of the loan which is likely going to cost you more than the 4-runner.
Posted on 4/16/19 at 9:20 am to Fat Bastard
Not only that he’s financing $6100, but he’s paying $8500 for a fricking 2007 car. OP, stop this nonsense. You do not need a 2007 4-Runner with high mileage. Go buy a 2013 Honda Civic and it’ll last longer and cost you less in the long run, and about the same upfront
Posted on 4/16/19 at 9:52 am to Hot Carl
You should realistically be able to pay the loan off in 12 months or less. Absolutely, in no way should you get GAP insurance on something like this.
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