Jump to content

  • Welcome!

    Register and log in easily with Twitter or Google accounts!

    Or simply create a new Huddle account. 

    Members receive fewer ads , access our dark theme, and the ability to join the discussion!

     

Need Advice on my Car

tarheelpride

By tarheelpride,
in Huddle Lounge

Recommended Posts

Jase Apprentice

Jase

Posted
Posted

I learned something new this time around buying a car.

To get the best interest rate from a credit union. A) buy a new car, and B- put down a minimum of 30%.

Got a loan for 1%. Now I can concentrate more on paying down my wife's @#$% unrefinanceable student loans at 6.9% instead.

All of this assuming you can't do better with a promotional rate at the dealer.

Link to comment
Share on other sites
Mrs Pantherfan Newbie

Mrs Pantherfan

Posted
Posted

I learned something new this time around buying a car.

To get the best interest rate from a credit union. A) buy a new car, and B- put down a minimum of 30%.

Got a loan for 1%. Now I can concentrate more on paying down my wife's @#$% unrefinanceable student loans at 6.9% instead.

All of this assuming you can't do better with a promotional rate at the dealer.

little bitter about something there, buddy? :)

Link to comment
Share on other sites
g5jamz Newbie

g5jamz

Posted
Posted

The only time you consider a car as any sort of investment to recoup anything would be in as a business use. Even then I wouldn't if self employed because I'm cheap and don't need a new car. If you're looking at a car as a source of equity...don't. It's toilet tissue. Pay it off early.

If refinancing...look at home equity line/loan so you can get the tax benefit of the interest deduction.

Link to comment
Share on other sites
CarolinaAllDay Newbie

CarolinaAllDay

Posted
Posted

Either buy new and finance or dont finance at all. Financing used cars is a recipe for trouble.

What would be worse than having a used car that your making payments on, and then having the transmission blow or some other freak accident? At least with a new car your getting a warrenty for 3 yrs/36k miles ( which would usually be 60% of the time your making payments) and you get the peace of mind that the maintenence was done correctly on the vehicle and Johnny dickstick changed the oil more than once.

Link to comment
Share on other sites
Jackofalltrades Proficient

Jackofalltrades

Posted
Posted

I don't know what your credit looks like but if the numbers seen in this thread hold true you could probably go in and trade it now and use the difference for your down payment and probably not have to come out of pocket for anything. The closer you get to the end of the year the better the deals are going to get as they try to pump up their numbers.

Also, with a new car you are eligible for their special financing offers that rarely are extended to used cars.

Credit and trade value are going to be what "drive" a new deal.

Link to comment
Share on other sites
tarheelpride Contributor

tarheelpride

Posted
  • Author
Posted

I don't know what your credit looks like but if the numbers seen in this thread hold true you could probably go in and trade it now and use the difference for your down payment and probably not have to come out of pocket for anything. The closer you get to the end of the year the better the deals are going to get as they try to pump up their numbers.

Also, with a new car you are eligible for their special financing offers that rarely are extended to used cars.

Credit and trade value are going to be what "drive" a new deal.

My credit is pretty decent and I bet I could cut that interest rate by a lot. As I said previously, I wouldn't be able to do anything until February at the earliest and I want to be more financially secure before I do a trade-in. However, I would love to do a trade-in and get another car.

Link to comment
Share on other sites
thefuzz Mentor

thefuzz

Posted
Posted

Good lord.

Don't go get a new car. It's stupid to look at the interest rate only when thinking of this purchase. If you can get it refinanced for less months and keep the payment the same, do it. Otherwise just pay extra every month.

Just keep paying on the car, and you won't be upside down in it.

If you want to be upside down, go get a new car, 40% of the value will be lost within 18 months of signing.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

Go to topic listing

  • PMH4OWPW7JD2TDGWZKTOYL2T3E.jpg

  • Topics

  • Posts

    • Jmac
      Should Dave Canalas be on the HOT seat??

      By Jmac · Posted

      Nope
    • cranky
      Who is going to take a shot at Malik Willis

      By cranky · Posted

      So Willis had a good game against a poor defense and all of a sudden he is worth 50 million and is guaranteed to be better than Young. LOL I know he looked good in the 3 games he started, and I think he will have success long term, but anyone signing him up for a long term contract for 50 million is taking a huge risk. 
    • cranky
      Should Dave Canalas be on the HOT seat??

      By cranky · Posted

      Is he really though? Rivera was past his prime and probably shouldn't have even started 2019 so his firing wasn't really unexpected or unwarranted. Rhule lasted two and a half years which was about one year too long in my opinion. Bringing him back that third year certainly wasn't impulsive and I would say Tepper was more patient than he should have been. Wilks finished out that third season and did pretty good but most everyone could see he really wasn't anything more than an intern HC. Bringing him back was not the long term answer so not bringing him back was the correct call. Hiring Reich was a mistake from the beginning and he recognized that fairly quickly. I am sure he knew he was going to catch a lot of sh*t for firing him so quickly ( and boy did he ) but it was absolutely the right thing to do given everything that was going on. The firing may have looked impulsive, but I think it was him recognizing he had royally f*ck up and just dealt with it instead of letting it fester.  That brings us to Canales. 2025 was only his second season and yet he delivered 8 wins and the NFC South title. And while that might not sound great, given the lack of talent and cap space they started with, it's a strong step in the right direction. I couldn't imagine Tepper not being pleased with their progress given the crap the Panthers' have been though under his ownership.
×
×
  • Create New...