RANT: Aqua-beowulf puts you in an Olive Garden

[Final_Rep]

you can get a 0% zero down loan for a car? really?


even if true i'm still with pg on this one and buy my cars with money i have in my bank account.

yeah man my truck.. 0% loan, zero down..
link to a picture of it

[PowderMonkey]

yeah man my truck.. 0% loan, zero down..
link to a picture of it

wow (loan. seen truck before. also mountains and snow and road and stuff).

tbh i haven't done much looking because i own a car already that works just fine, but i would be surprised if such loans existed over here. in my extremely limited experience of loans, the more money you borrow, the higher the interest and more mandatory the deposit. i've seen 0%/0 on electronics and whitegoods though.

i'm wary of loans in general, i don't even own a credit card. i'm very very against spending beyond my means.

[PeterGibbons316]

What would you do, hypothetically, if you made ~$200,000/year?

Edit: I'm guessing the answer is still buy with cash outright, just maybe a bit nicer of a vehicle. That makes a lot of sense, but so does getting a 0%, zero down, loan that can help you build strong credit history and not have you paying anything on interest.

We saved up enough for a new car last year and when we went to buy it we tried to get their 0% financing that they were offering. They said we didn't qualify and tried to give us like a 4 or 5% rate on a 5 or 6 year loan - I can't remember the details, but we just declined the offer and paid cash for the car. So now instead of paying the bank $5/6/700 a month for 5 years, we are paying ourselves that money. And instead of having an old car to show for it at the end of that 5 year period, we will have an old car and nearly $40,000 to spend on a new car at that time if we need one.

It took A LOT of convincing to get my wife to agree to take the financing if they offered us a low enough interest rate - that's like free money. But they wouldn't go lower than 4% so we just bought it outright. Honestly there is nothing more satisfying than watching that ****-eating grin disappear from the financing guys face when he thinks he has screwed you on the financing, and you just write him a check for the negotiated price. A lot of people think that you can get a better deal if you are paying cash, but my experience was the opposite. Let them think you are financing and they will be more likely to give you a good price thinking they will screw you over on the financing end. Then you just pay in full and the jakes on them.

[Farley1324]

wow (loan. seen truck before. also mountains and snow and road and stuff).

tbh i haven't done much looking because i own a car already that works just fine, but i would be surprised if such loans existed over here. in my extremely limited experience of loans, the more money you borrow, the higher the interest and more mandatory the deposit. i've seen 0%/0 on electronics and whitegoods though.

i'm wary of loans in general, i don't even own a credit card. i'm very very against spending beyond my means.

Over here 0 down/0% interest can be had from time to time on brand new vehicles. That's the tradeoff, you have to pay the brand new price at the dealer to get the 0/0. I think it all evens out in the end, one way or the other.

[Final_Rep]

wow (loan)

Yeah I figured you had seen that pic before and I posted it once which is why I did just the link this time. But ... the 0% loan means they are tacking on at least 4,000-5,000 to the sticker price for the vehicle over what they really need... which is why the other promotion is, you guessed it, 5,000 'cash back'. So they are getting me either way if I buy new...

In the end, what Peter and D1 are talking about is always going to be more financially intelligent, imho.

Edit: Farley'd ^^

[PowderMonkey]

Let them think you are financing and they will be more likely to give you a good price thinking they will screw you over on the financing end. Then you just pay in full and the jakes on them.

this is what i should have done last time, but you can bet i will be doing it next time.

[PeterGibbons316]

Over here 0 down/0% interest can be had from time to time on brand new vehicles. That's the tradeoff, you have to pay the brand new price at the dealer to get the 0/0. I think it all evens out in the end, one way or the other.

There are all kinds of hidden details though. In our case, it was $500 off or 0%/0 down. We negotiated a purchase price for the car, and then when we went to talk to the financing guy he told us that the price we agreed upon included the $500 off deal - even though it was never brought up. Car salesmen are sneaky mother ****ers. If I had another couple hours to waste I probably could have gotten another $500 off, but we were already getting a great deal and I didn't think it was worth my time.

[Final_Rep]

Then you just pay in full and the jakes on them.

Damn son, nice move. Putting that one in the 'save for later' category for sure.

[GeneralSerpant]

If you are already open to taking a loan out for a car, then I'll concede that often times it will make more sense to lease than finance.

Leases and financing are just loans in themselves if you end up buying the car. So why would you take out a loan just to take out another loan?

What would you do, hypothetically, if you made ~$200,000/year?

Edit: I'm guessing the answer is still buy with cash outright, just maybe a bit nicer of a vehicle. That makes a lot of sense, but so does getting a 0%, zero down, loan that can help you build strong credit history and not have you paying anything on interest.

You vs. Inflation. Flawless victory

[Final_Rep]

Leases and financing are just loans in themselves if you end up buying the car. So why would you take out a loan just to take out another loan?

Inflation.

This whole post = da fuk??

[GeneralSerpant]

This whole post = da fuk??

I get that if you take out a loan to finance a car at 0%, you're just paying the loan. But, adding the interest of the loan and the extra money on the lease, why would you want to pay off two separate finances?

[PeterGibbons316]

I get that if you take out a loan to finance a car at 0%, you're just paying the loan. But, adding the interest of the loan and the extra money on the lease, why would you want to pay off two separate finances?

You can't lease and finance a car at the same time? It's one or the other?

I'm confused as to what you are trying to say here.....

[PowderMonkey]

You can't lease and finance a car at the same time? It's one or the other?

I'm confused as to what you are trying to say here.....

I'm sure a car salesman would let you if you asked him

[GeneralSerpant]

You can't lease and finance a car at the same time? It's one or the other?

I'm confused as to what you are trying to say here.....

I always figured the advantage of leasing a car was that you didn't have to buy it at the end. If you do buy it at the end however, you are paying a considerable amount more.

I also thought someone mentioned taking out a loan to finance OR lease a car. I'll see if I read that right, but my main question was: why would you take out a loan to lease a car, if you did in fact intend on buying it?

[Farley1324]

I always figured the advantage of leasing a car was that you didn't have to buy it at the end. If you do buy it at the end however, you are paying a considerable amount more.

I also thought someone mentioned taking out a loan to finance OR lease a car. I'll see if I read right. My main question was: why would you take out a loan to lease a car, if you did in fact intend on buying it?

I have no idea as that makes no sense.

I don't recall anybody saying that either?

[ossizen]

I have no idea as that makes no sense.

I don't recall anybody saying that either?

Leasing is not a good idea if you do a lot of driving. Another dumb idea is taking out a loan to pay for a lease.

[ossizen]

yeah man my truck.. 0% loan, zero down..
link to a picture of it

I have 0% interest with $3,500 down on my '10 Corolla. Only bad thing was that I was $10,000 upside down on my '08 Fusion when I traded it in Jan '11.

[PeterGibbons316]

I always figured the advantage of leasing a car was that you didn't have to buy it at the end. If you do buy it at the end however, you are paying a considerable amount more.

I also thought someone mentioned taking out a loan to finance OR lease a car. I'll see if I read that right, but my main question was: why would you take out a loan to lease a car, if you did in fact intend on buying it?

Taking out a loan to lease a car doesn't make any sense, not even renferos would suggest something so stupid. It was (take out a loan to finance a car) OR (lease a car), not take out a loan to (finance OR lease) a car.

Hope that clears things up for you.

[mab23]

I always figured the advantage of leasing a car was that you didn't have to buy it at the end. If you do buy it at the end however, you are paying a considerable amount more.

I also thought someone mentioned taking out a loan to finance OR lease a car. I'll see if I read that right, but my main question was: why would you take out a loan to lease a car, if you did in fact intend on buying it?

Good point

- would you lease a Lambo tho - for 300 a month?

[theshoupguy]

Good point

- would you lease a Lambo tho - for 300 a month?

No, because it'd most likely be a sh!tty-ass lambo or you'd get sucked into some insane fine print and/or extra costs.

[Farley1324]

Good point

- would you lease a Lambo tho - for 300 a month?

300 what? Payments of $10 each?

[mab23]

No, because it'd most likely be a sh!tty-ass lambo or you'd get sucked into some insane fine print and/or extra costs.

no it was perfect because this is MY hypothetical scenario

300 what? Payments of $10 each?

300 bucks a month!

[Farley1324]

300 bucks a month!

What is it...an old tractor?

[GeneralSerpant]

No, because it'd most likely be a sh!tty-ass lambo or you'd get sucked into some insane fine print and/or extra costs.

Good point

- would you lease a Lambo tho - for 300 a month?

If you could spare the monthly expense, and you knew the car would be a classic worth 15x as much as you payed for it, it wouldn't be any different than investing in a house.

[GeneralSerpant]

If you are already open to taking a loan out for a car, then I'll concede that often times it will make more sense to lease than finance.

This is the quote that I was talking about? confusedronburgandy.jpg

Peoples were saying that you could be smart and get a superb lease, and I didn't knows why it would be so superb!?!

Anyways, I thought Peter was talking about someone who already took out a loan, and that the smart move after would be to lease the car.

Yeah I figured you had seen that pic before and I posted it once which is why I did just the link this time. But ... the 0% loan means they are tacking on at least 4,000-5,000 to the sticker price for the vehicle over what they really need... which is why the other promotion is, you guessed it, 5,000 'cash back'. So they are getting me either way if I buy new...

In the end, what Peter and D1 are talking about is always going to be more financially intelligent, imho.

Edit: Farley'd ^^

Just watch out for the 500,000 mile warranty.

[mab23]

What is it...an old tractor?

no it was a hypothetical question!!!

[GeneralSerpant]

no it was a hypothetical question!!!

Hmm, as a hypothetical question, I'll say yes. YES! I'll take the lambergini for one payment of $300 USD, considering that it is a good lambergini.

[ShaneSwan]

Stymied! You win, ShaneSwan...this round.

[GREENFEATHER]

I agree. In fact, anyone who is not driving a few models with a few options bought used at 2 years is often not making the "best" decision monetarily.

That was part of what I meant about money pit. They aren't an investment-they are expensive losses that are often driven by a degree of emotion to purchase.

Which is why I drive older cars. Cars are the worst investment EVAR unless you have a piss pot full of money to buy collector cars.

What is it...an old tractor?

Some of those old Lambo tractors fetch damn good money at auction.

[PowderMonkey]

Which is why I drive older cars. Cars are the worst investment EVAR unless you have a piss pot full of money to buy collector cars.

oh, they are still a terrible investment. they are just a terrible investment you can afford to spend money on.