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re: Would a $500+ car note break the bank for you?
Posted on 7/20/19 at 9:09 pm to fightin tigers
Posted on 7/20/19 at 9:09 pm to fightin tigers
New cars are for suckers. Worst investment there is
2
Posted on 7/20/19 at 9:10 pm to lsu xman
Wouldn’t break the bank but it would put a hurting on my savings
Posted on 7/20/19 at 9:11 pm to fightin tigers
You can admit you’re wrong. It’s not a big deal.
Posted on 7/20/19 at 9:12 pm to ulsaint
quote:
New cars are for suckers. Worst investment there is
Sure is. And I love mine. I'm a happy sucker every time I get behind the wheel.
Don't want an RV. Don't hunt or fish. Don't want to go around the world. Don't want a motorcycle right now for various reasons. Gotta have something I enjoy and I've always been in love with automobiles. I don't regret that purchase one bit. One of the best I ever made, mater of fact.
But damn, not even 25k on the first set of tires and they're shot.
frick it, I fully well knew what I was getting into.
This post was edited on 7/20/19 at 9:21 pm
Posted on 7/20/19 at 9:25 pm to ulsaint
quote:
New cars are for suckers. Worst investment there is
Well its not an investment, so...
Posted on 7/20/19 at 9:30 pm to Mingo Was His NameO
Ok not an investment but still terrible value. Just buy a year or two old
Posted on 7/20/19 at 9:33 pm to ulsaint
quote:
Ok not an investment but still terrible value
Not really, as always it depends
Posted on 7/20/19 at 9:40 pm to GreatLakesTiger24
quote:
You can admit you’re wrong. It’s not a big deal.
I agree that the note says 0.0% APR. Just not foolish enough to think I got free money.
Im not paying interest over the whole length of the loan, I am paying it all up front. Which is sort of a worse deal.
Posted on 7/20/19 at 9:42 pm to fightin tigers
quote:
I agree that the note says 0.0% APR. Just not foolish enough to think I got free money.
Im not paying interest over the whole length of the loan, I am paying it all up front. Which is sort of a worse deal.
You negotiate the price before financing is even discussed dumbass. If i walk in pre qualified through my bank or finance through the dealerships credit department I'm financing the same amount just at a different rate. This is really really fricking simple.
Posted on 7/20/19 at 9:45 pm to lsu xman
My current car, a Ford Explorer Platinum, had a $6500 discount from the dealer, a $5000 rebate from the manufacturer, and 0%/60 month interest from Ford (for well qualified buyers. My FICO score was 820 at the time.
Paid $10k down. Still paying $660 a month.
Paid $10k down. Still paying $660 a month.
This post was edited on 7/20/19 at 9:46 pm
Posted on 7/20/19 at 9:47 pm to lsu xman
I’ve never went longer than 60 months. 84 WTF
I guess if you had 0.0% interest it wouldn’t matter since your paying principle the whole time but if you have any interest on it then that’s just more $$$$ for the financing agency
I guess if you had 0.0% interest it wouldn’t matter since your paying principle the whole time but if you have any interest on it then that’s just more $$$$ for the financing agency
Posted on 7/20/19 at 9:48 pm to Mingo Was His NameO
Trust me when I say this, the dealership is not giving you free money.
You aren't some master negotiator.
The finance people do it all day and know how much they need to take you for on the price or the financing.
If you are getting 0.0% financing you bet your arse you didn't get the lowest price you could have. The finance guy will tell you that you didn't qualify for whatever damn reason.
I have had the joy/displeasure of meeting a couple finance guys in a casual environment and hearing their dick measuring tactics is enough to make me realize that 99.9% of us are jist believing we are getting a good deal.
You aren't some master negotiator.
The finance people do it all day and know how much they need to take you for on the price or the financing.
If you are getting 0.0% financing you bet your arse you didn't get the lowest price you could have. The finance guy will tell you that you didn't qualify for whatever damn reason.
I have had the joy/displeasure of meeting a couple finance guys in a casual environment and hearing their dick measuring tactics is enough to make me realize that 99.9% of us are jist believing we are getting a good deal.
This post was edited on 7/20/19 at 9:52 pm
Posted on 7/20/19 at 9:51 pm to lsu xman
I went 120 months on my Silverado.
Now it’s been paid off 8 years.
#Winning.
Now it’s been paid off 8 years.
#Winning.
Posted on 7/20/19 at 9:53 pm to fightin tigers
quote:
Trust me when I say this, the dealership is not giving you free money.
Yes they are to move inventory. If I finance with my bank they get exactly $0 if interest income on that transaction, but they have no idea until the car is sold so they can't price that in.
quote:
You aren't some master negotiator.
You don't have to be, it's either a customer acquisition cost or a way to control inventory holding costs.
quote:
The finance people do it all day and know how much they need to take you for on the price or the financing.
They have no control over how much I pay or how I finance it.
quote:
I have had the joy/displeasure of meeting a couple finance guys in a casual environment and hearing their dick measuring tactics is enough to make me realize that 99.9% of us are jist believing we are getting a good deal.
I'm sure they had no bias or reason to stretch the truth.
You are truly an idiot.
This post was edited on 7/20/19 at 9:54 pm
Posted on 7/20/19 at 9:55 pm to Mingo Was His NameO
So you are getting 0.0% finance not going through the dealership financing?
Posted on 7/20/19 at 9:56 pm to fightin tigers
you don't understand the relationship between the dealer (and even the salesman and F&I guy) and the lender (usually owned by the manufacturer) providing 0.0% APR
Posted on 7/20/19 at 9:57 pm to GreatLakesTiger24
quote:
you don't understand the relationship between the dealer (and even the salesman and F&I guy) and the lender (usually owned by the manufacturer) providing 0.0% APR
The concept of free money is all you need to understand. There is no such thing as free money.
Posted on 7/20/19 at 9:59 pm to fightin tigers
quote:
The concept of free money is all you need to understand. There is no such thing as free money
In your completely ridiculous scenario they are eating the interest income. You can just say it's financed at 3% and they are paying the interest if that helps get through to your slack jawed brain.
Posted on 7/20/19 at 10:01 pm to Mingo Was His NameO
quote:
they are eating the interest income.
So, in other words, they are losing money to give you a car.
Posted on 7/20/19 at 10:04 pm to fightin tigers
quote:
So, in other words, they are losing money to give you a car.
Well no because you aren't forced to finance through them anyway, but ignoring that they would be either a) making less to move inventory or b) making more because it costs more to hold the car on the lot than not earn interest income.
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