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Posted on 6/19/26 at 7:47 am to BabyTac
quote:
BabyTac
Page 2 on a vehicle loan thread....Slackin
Posted on 6/19/26 at 7:50 am to lsu xman
Not to brag but just stating facts
I pay cash
Screw a note especially at a high interest rate
I pay cash
Screw a note especially at a high interest rate
Posted on 6/19/26 at 7:56 am to lsu xman
Bought a new truck last month, financed with a 12 month loan. My note is much higher than $773, but I’ll only end up paying about $600 in interest
Posted on 6/19/26 at 7:58 am to Gorilla Ball
quote:
Not to brag but just stating facts
I pay cash
You bought a $4K car you found on Facebook marketplace.
Posted on 6/19/26 at 7:59 am to lsu xman
Or 4-Runner.
Posted on 6/19/26 at 7:59 am to Gorilla Ball
I decided not to pay cash….5% interest vs 70% YTD return in my brokerage account. I will make extra payments to pay off the loan early though but the market is too hot right now to take out that lump sum IMO
Posted on 6/19/26 at 8:00 am to kywildcatfanone
quote:
Anyone paying interest on a car note is well, not financially with it.
Everybody pays interest on a car note. Absolutely everybody. There is no such thing as free money and never will be.
They may tell you its zero percent. But it's not. That "price" you pay for the car is actually the price of the car plus the present value of the cost of the interest, then sliced up into payments for the next few years. They probably also roll in a couple extra thou for kicks because they can.
A $50k car at zero percent is actually a $43k car and $7k interest that they tell you is a $50k car at zero percent.
Posted on 6/19/26 at 8:07 am to lsu xman
I do a lot of driving for my new job.. my rogue had 200,000 miles on it and decided to start over fresh
I was gonna do a truck this time.. but my price range around $35k they all had 90,000 miles on them
Or I could get a new rogue for the same price brand spanking new .. I got a higher package this time around.. and it was only 5k more than the brand new rogue I bought a decade ago.
Went with the new rogue. Payment is 555 a month.. but I get a car stipend to cover most of the cost anyway
I was gonna do a truck this time.. but my price range around $35k they all had 90,000 miles on them
Or I could get a new rogue for the same price brand spanking new .. I got a higher package this time around.. and it was only 5k more than the brand new rogue I bought a decade ago.
Went with the new rogue. Payment is 555 a month.. but I get a car stipend to cover most of the cost anyway
This post was edited on 6/19/26 at 8:08 am
Posted on 6/19/26 at 8:23 am to kywildcatfanone
quote:Depends on what your interest rate is. I have a little over a year left on my truck note at 1.9%. You can make between 3 to 3.5% with that money in a high yield savings account.
Anyone paying interest on a car note is well, not financially with it.
Posted on 6/19/26 at 8:29 am to tadman
quote:
Everybody pays interest on a car note.
Wrong. In order to pay interest, there must be a loan. I pay cash or wait until I can pay cash. No credit cards, no car loans.
The only think I make payments on is my mortgage (2.3%).
Posted on 6/19/26 at 8:30 am to lsu xman
I’ve got 2 I pay $1000 on a month and the notes are just under $900 for 60 months.
Posted on 6/19/26 at 8:38 am to magildachunks
(no message)
This post was edited on 6/19/26 at 8:38 am
Posted on 6/19/26 at 8:46 am to lsu xman
We have two 2016 vehicles that are paid off, and have been for some time. One has 152,000 and the other has 84,000 miles.
They are outdated technologically, but they still run fine with regular maintenance.
Going note-free as long as possible.
Or average monthly catholic school tuition...
They are outdated technologically, but they still run fine with regular maintenance.
Going note-free as long as possible.
quote:
Avg monthly new car note $773
Or average monthly catholic school tuition...
Posted on 6/19/26 at 8:46 am to lsu xman
I haven't had a car note since 2010. Been paying cash for used vehicles ever since.
Posted on 6/19/26 at 8:47 am to lsu xman
I go through credit unions for all my financing. F the banks
Posted on 6/19/26 at 8:48 am to BowDownToLSU
quote:
My wife on the other hand has a gas guzzling Wagoneer 2025 with a ridiculous note
Posted on 6/19/26 at 8:51 am to Dawgirl
quote:
Even for a recent used Honda
I’ve been looking for a used Honda.
A 2-3 year old used Honda is $25-$30k. I can buy brand new for $5,000 more. Make it make sense.
Posted on 6/19/26 at 8:51 am to lsu xman
I bought a lightly used truck that I financed the majority of for 5.9%. I could’ve paid cash but my cash account is earning almost 10%/yr so it made sense to me.
I still paid $30k less than the sticker was 3 yrs ago.
I still paid $30k less than the sticker was 3 yrs ago.
Posted on 6/19/26 at 8:54 am to lsu xman
What’s a car note?
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