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re: First time buying a "new vehicle"

Posted on 7/18/16 at 12:58 pm to
Posted by deNYEd
New Orleans
Member since Jul 2007
9703 posts
Posted on 7/18/16 at 12:58 pm to
you win buddy
Posted by Tigers_Saints
Member since Jun 2016
949 posts
Posted on 7/18/16 at 12:59 pm to
Of course I do. You still haven't offered anything
Posted by deNYEd
New Orleans
Member since Jul 2007
9703 posts
Posted on 7/18/16 at 1:00 pm to
You managed to change the whole argument about me using the word fact. That cute. Especially when I immediately admitted that it was possible to end up on the better side of deal with a new car albeit uncommon
Posted by barry
Location, Location, Location
Member since Aug 2006
51421 posts
Posted on 7/18/16 at 1:02 pm to
quote:

you want me to link thousands of articles in which varying financial minds across the world tell you its financially irresponsible to buy a new car.


A luxury car, sure. A Camry, eh, not so much.
Posted by Tigers_Saints
Member since Jun 2016
949 posts
Posted on 7/18/16 at 1:07 pm to
quote:

You managed to change the whole argument about me using the word fact. That cute.


What? That was LITERALLY my original response to you

quote:

It isn't necessarily a fact



So what was your argument about again?

Posted by reggo75
Iowa, LA
Member since Jan 2016
1433 posts
Posted on 7/18/16 at 1:22 pm to
We bought a Honda Odyssey last year. We were committed to a used vehicle but once we started looking at the prices of used Hondas we decided to get a new one.

2013-2014 models were about $28,000-$32,000 with the package we wanted and under 30,000 miles. Most of the ones we found were in Houston.

2016 model with our package was just under $33,000.

I think we made the right call.
Posted by kellyval99
Baton Rouge, LA
Member since Dec 2003
3564 posts
Posted on 7/18/16 at 3:37 pm to
I recommend going to your bank or eLoan or someone and getting pre-approved before you walk in...then you know what your APR will be before you sign anything...also tells you how much of the $20K you want to put down. You can get pre-approved from most dealers...I just think it is way better to know ahead of time. I went in with an eLoan check last time and the dealership matched, then improved on the rate they gave so I used them to finance.
Posted by tigerfann83
Member since Jul 2015
603 posts
Posted on 7/18/16 at 4:23 pm to
Don't put 20k down not a good move
Posted by ATL-TIGER-732
ATL
Member since Jun 2013
2291 posts
Posted on 7/18/16 at 4:35 pm to
quote:

Some people just prefer a NEW car.

I buy a new car and keep it at least 10 years. I would put 250,000 to 300,000 miles on it. I had the scheduled maintenance done religiously. I always changed the oil and filter myself. A tv expose showed several Atlanta quick oil change places never actually changed your oil!

I enjoyed 6+ years out of every 10 years without a car note.

I never spent over $20,000 on a new car. To me, a vehicle is basic transportation.

As for buying used, why buy someone else's problem? Especially if you are going to keep the car for a long time. Any extra cost to buy new is amortized over 10 years.

Posted by MyNameIsNobody
Member since Dec 2013
1231 posts
Posted on 7/18/16 at 4:40 pm to
Put as much down as you want if you don't buy a $20,000 car out right.....the more you put down the shorter the length of the loan will be.....putting 20K down and paying off the balance in 24 or 36 months to me sounds better than stretching the loan for 5, 6, or 7 years...
Posted by Feelthebarn
Lower Alabama
Member since Nov 2012
3829 posts
Posted on 7/18/16 at 5:27 pm to
This is by far the worst place in planet earth to even mention the words "new vehicle" lol. You really won't go to hell if you buy a new vehicle. Putting 20k down on the other hand, that's a hell of a down payment on a 35k vehicle. If you have to put that much down to make.the payments doable, you can't afford the vehicle in the first place
Posted by McCaigBro69
TigerDroppings Premium Member
Member since Oct 2014
45349 posts
Posted on 7/18/16 at 5:31 pm to
quote:

I went in with an eLoan check last time and the dealership matched, then improved on the rate they gave so I used them to finance.


This is what I did. I got pre-approved by BOA (My personal bank) and went in and bought my first truck last year. Got pre-approved w/ a 1.74% rate for my loan and ended up financing in-house on my used F-150 Lariat and got a a better rate at 1.20%.

It's pretty crazy how ridiculously competitive lenders are for used car interest rates, at least I thought it was.

Posted by Scoop
RIP Scoop
Member since Sep 2005
44583 posts
Posted on 7/18/16 at 5:48 pm to
Never buy a new vehicle unless you have money to burn and just want one.

This is not 1987.

Hondas and Toyotas can take 250,000 miles and not blink an eye.

Pay cash for a Nice Honda or Toyota for $15k with 80k and spend what is left over on hookers and blow.

Posted by CoachRobertson
Denham Springs
Member since Dec 2014
364 posts
Posted on 7/18/16 at 6:28 pm to
Email me under my profile. Will advice you on options and/or suggestions
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