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re: Would a $500+ car note break the bank for you?
Posted on 7/20/19 at 10:07 pm to Mingo Was His NameO
Posted on 7/20/19 at 10:07 pm to Mingo Was His NameO
quote:the manufacturer typically pays the lender the difference between 0% and whatever they would have qualified for (pretty low). it's essentially a rebate.
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.
the captive lenders (ford, gm, toyota, etc.) don't make much at all on very prime customers anyways.
eta: like others have said, it's a customer acquisition cost.
This post was edited on 7/20/19 at 10:09 pm
1
Posted on 7/20/19 at 10:09 pm to GreatLakesTiger24
My note is more than that so no. Last payment in November and looking forward to having that cash flow back.
Posted on 7/20/19 at 10:09 pm to Mingo Was His NameO
That makes even less sense.
They no longer have the asset nor the money from selling the asset.
They no longer have the asset nor the money from selling the asset.
Posted on 7/20/19 at 10:16 pm to TheChosenOne
$1250 for 84 months? Proves one thing - you obviously have more money than sense.
Posted on 7/20/19 at 10:17 pm to lsu xman
quote:
84 months
Never had more than a five year car loan. I keep them for 7-10 years, but expect a few years with no car note. That always let me save money for a big down payment on the next car.
Posted on 7/20/19 at 10:28 pm to fightin tigers
quote:
That makes even less sense.
They no longer have the asset nor the money from selling the asset.
What?
Posted on 7/20/19 at 10:30 pm to Sayre
quote:
I work in California, and when I'm off I go back and forth. I'm still a Louisiana resident technically.
Sounds like you are “technically” committing tax fraud
Posted on 7/20/19 at 10:31 pm to BACONisMEATcandy
Posted on 7/20/19 at 10:32 pm to BACONisMEATcandy
quote:
Sounds like you are “technically” committing tax fraud
No he's not.
Posted on 7/20/19 at 10:33 pm to lsu xman
Avg car payment now is about $525/mo.
Posted on 7/20/19 at 10:33 pm to BACONisMEATcandy
quote:
BACONisMEATcandy
Hey bro, Louisiana election season is heating up again and I remember you having some good insights into Louisiana politics back in 2015. Could be useful on the poliboard again this fall.
Posted on 7/20/19 at 10:38 pm to castorinho
Most places I’ve always seen it’s either 0% or a cash rebate. So you did pay interest.
Posted on 7/20/19 at 10:44 pm to lsu xman
Nah. I tend to take shorter term loans on vehicles so they are paid off sooner. I've never paid more than $25,000 for a used car and have only bought one new vehicle in my life. The price on that was only $17K.
This post was edited on 7/20/19 at 10:45 pm
Posted on 7/20/19 at 10:47 pm to lsu xman
I would have to stop my crypto investments.
Posted on 7/20/19 at 10:47 pm to Sentrius
Which thread? I still go over there all the time. I just comment less everywhere
Posted on 7/20/19 at 10:54 pm to fightin tigers
quote:
fightin tigers
Have you ever purchased a vehicle from a dealership? Serious question. You don’t seem to have a very firm grasp on how it works.
Posted on 7/20/19 at 10:56 pm to UpToPar
Several times. Only financed once through the dealership, after they lowered the rate below what my personal financing was.
Never purchased a new car though. Have never found one I liked. Not sure if that is what you mean.
Never purchased a new car though. Have never found one I liked. Not sure if that is what you mean.
Posted on 7/20/19 at 10:59 pm to BACONisMEATcandy
quote:
I just comment less everywhere
Well that's definitely an emphasis on less there.
It's been a while since I saw you post there. Hopefully you'll be there more often as October gets closer.
Posted on 7/20/19 at 11:22 pm to BACONisMEATcandy
quote:
Sounds like you are “technically” committing tax fraud
I know the laws and follow them. I made sure my tax person knew I never wanted to have to worry about something coming back to bite me on the arse. I just go the extra mile to get every penny I can back. I know what California considers a resident.. That's why I don't work more than a certain amount of time here a year. and take regular trips back to La. Louisiana still takes their cut. I won't even go into the hassles I'm having with the Dept of Revenue right now over last year. I didn't even work in the state and they have their hand in my pocket.
Posted on 7/20/19 at 11:30 pm to lsu xman
No that is around what my note is.
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