Are Car Notes for Suckas? School me on financing a car please

[2lipslegit]

You can get lower rates by going through the bank than you can through the dealer. I would never get a car without payin it outright in cash though. If you dont have the guap, Id get a cheaper car. You can find NICE cars for 10k. Im coppin a car this summer and I been lookin at the Grand Marquis LS, you can get a 3 or 4 year old one with 40k miles for 8 stacks if you just look around a lil bit and MSRPs over 30. You probably want a beamer though, but my point stands. Get a used car and do your research, you'll be goodie and probably end up with a better car anyway.

 

[recycledpaper]

low APR? sure why not.

high APR? don't do it.

 

[recycledpaper]

low APR? sure why not.

high APR? don't do it.

 

[hugo]

dont do it!u will take an L

 

[hugo]

dont do it!u will take an L

 

[atlien seeko]

I like when people come in and say "DONT DO IT!" with no reason or insight as to why not... If you need a car, you want a certain model, and you can afford it, go for it. It's as simple as that. If I could afford it, I definitely wouldnt mind having a car note on a Nissan GT-R. Why not pay for a car that you really want/need and will use? It's good logic.

 

[atlien seeko]

I like when people come in and say "DONT DO IT!" with no reason or insight as to why not... If you need a car, you want a certain model, and you can afford it, go for it. It's as simple as that. If I could afford it, I definitely wouldnt mind having a car note on a Nissan GT-R. Why not pay for a car that you really want/need and will use? It's good logic.

 

[hugo]

Originally Posted by ATLien Seeko

I like when people come in and say "DONT DO IT!" with no reason or insight as to why not... If you need a car, you want a certain model, and you can afford it, go for it. It's as simple as that. If I could afford it, I definitely wouldnt mind having a car note on a Nissan GT-R. Why not pay for a car that you really want/need and will use? It's good logic.

ummmmm i use to be a salesman..everyone gets dicd when financing, buddy.

 

[hugo]

Originally Posted by ATLien Seeko

I like when people come in and say "DONT DO IT!" with no reason or insight as to why not... If you need a car, you want a certain model, and you can afford it, go for it. It's as simple as that. If I could afford it, I definitely wouldnt mind having a car note on a Nissan GT-R. Why not pay for a car that you really want/need and will use? It's good logic.

ummmmm i use to be a salesman..everyone gets dicd when financing, buddy.

 

[stockholm patriot]

Depends, in NYC why? But anywhere else a dependable car is mandatory.... I've had hoopties, scrapers , and 2005, 06, 07, and 08's
the minute I though it was safe to not have a note I went into an economic scare... 2011 I'm getting a 2011 eff that.

 

[stockholm patriot]

Depends, in NYC why? But anywhere else a dependable car is mandatory.... I've had hoopties, scrapers , and 2005, 06, 07, and 08's
the minute I though it was safe to not have a note I went into an economic scare... 2011 I'm getting a 2011 eff that.

 

[ro0ts]

Originally Posted by LuckyLuchiano

paying 3-400 a month for a car just sounds scary because there could be that one month you dont have the bread and that would be a lot of money to put together.

If this is the case then you should not be considering financing a car. Anyone who locked themselves into a car payment should have a rainy day fund and be putting a decent amount into their savings every month.

 

[ro0ts]

Originally Posted by LuckyLuchiano

paying 3-400 a month for a car just sounds scary because there could be that one month you dont have the bread and that would be a lot of money to put together.

If this is the case then you should not be considering financing a car. Anyone who locked themselves into a car payment should have a rainy day fund and be putting a decent amount into their savings every month.

 

[atlien seeko]

Originally Posted by Hugo

Originally Posted by ATLien Seeko

I like when people come in and say "DONT DO IT!" with no reason or insight as to why not... If you need a car, you want a certain model, and you can afford it, go for it. It's as simple as that. If I could afford it, I definitely wouldnt mind having a car note on a Nissan GT-R. Why not pay for a car that you really want/need and will use? It's good logic.

ummmmm i use to be a salesman..everyone gets dicd when financing, buddy.

I've been in the financing room. Insurance, rates, everything.. I know the game, trust me.. I rent cars... But, that's besides the point. If you know your rights and you're a smart consumer, there's nothing wrong with financing a car.

 

[atlien seeko]

Originally Posted by Hugo

Originally Posted by ATLien Seeko

I like when people come in and say "DONT DO IT!" with no reason or insight as to why not... If you need a car, you want a certain model, and you can afford it, go for it. It's as simple as that. If I could afford it, I definitely wouldnt mind having a car note on a Nissan GT-R. Why not pay for a car that you really want/need and will use? It's good logic.

ummmmm i use to be a salesman..everyone gets dicd when financing, buddy.

I've been in the financing room. Insurance, rates, everything.. I know the game, trust me.. I rent cars... But, that's besides the point. If you know your rights and you're a smart consumer, there's nothing wrong with financing a car.

 

[mplsdunk]

Just pay you bill on time and don't get a car you can't afford. Who pays straight cash for cars their whole life? Credit is good if you don't abuse it and stay on point.

 

[mplsdunk]

Just pay you bill on time and don't get a car you can't afford. Who pays straight cash for cars their whole life? Credit is good if you don't abuse it and stay on point.

 

[i just got lucky]

I've financed 3 cars since I was 18 (this was 10 years ago.)

I got ripped on my first purchased...but then again I was 18 and had nothing to show for, no co-signer and i had no idea what I was doing. I took the L and learned from my mistakes.

Like some people had already mentioned, there isn't really anything wrong with financing a car. But I wouldn't call a car an investment since you are losing money as soon as you drive it off the lot. It doesn't matter if you are buying brand new, used or pre-owned.

here are some things to remember when buying a car.

1. Do your research
2. Have a budget and know EXACTLY what you want.
3. Do not budge for the so-called add ins.
4. If you are still unsure...bring some one who really knows what they're doing.
5. Do not spend more than what you can afford. IE...its just another $50 I can make that extra payment if I stopped going out.
6. Try to get the lowest APR you can get...again do your research.
7. Use CARFAX
8. Avoid lemon lots and salvaged cars
9. Don't let the salesman bully you. Remember that you are the customer and if you feel like something is wrong. Leave.
10. Bring what ever you found while you are doing your research. Such as print out of SPECS, PRICES FROM OTHER DELEARSHIPS, KBB print out, etc...

 

[i just got lucky]

I've financed 3 cars since I was 18 (this was 10 years ago.)

I got ripped on my first purchased...but then again I was 18 and had nothing to show for, no co-signer and i had no idea what I was doing. I took the L and learned from my mistakes.

Like some people had already mentioned, there isn't really anything wrong with financing a car. But I wouldn't call a car an investment since you are losing money as soon as you drive it off the lot. It doesn't matter if you are buying brand new, used or pre-owned.

here are some things to remember when buying a car.

1. Do your research
2. Have a budget and know EXACTLY what you want.
3. Do not budge for the so-called add ins.
4. If you are still unsure...bring some one who really knows what they're doing.
5. Do not spend more than what you can afford. IE...its just another $50 I can make that extra payment if I stopped going out.
6. Try to get the lowest APR you can get...again do your research.
7. Use CARFAX
8. Avoid lemon lots and salvaged cars
9. Don't let the salesman bully you. Remember that you are the customer and if you feel like something is wrong. Leave.
10. Bring what ever you found while you are doing your research. Such as print out of SPECS, PRICES FROM OTHER DELEARSHIPS, KBB print out, etc...

 

[mr delorean]

Originally Posted by GetThisMoney

Bad idea, save and get a used car cash. Btw those saying its great to build your credit, why the hell would he want to spend unnecessary extra money just to establish credit?

he may want to buy a house someday.  financing of that magnitude requires proven, consistent credit maintained for many years.  but remaining disciplined is difficult for many.

 

[mr delorean]

Originally Posted by GetThisMoney

Bad idea, save and get a used car cash. Btw those saying its great to build your credit, why the hell would he want to spend unnecessary extra money just to establish credit?

he may want to buy a house someday.  financing of that magnitude requires proven, consistent credit maintained for many years.  but remaining disciplined is difficult for many.

 

[degenerate423]

Originally Posted by Hugo

Originally Posted by ATLien Seeko

I like when people come in and say "DONT DO IT!" with no reason or insight as to why not... If you need a car, you want a certain model, and you can afford it, go for it. It's as simple as that. If I could afford it, I definitely wouldnt mind having a car note on a Nissan GT-R. Why not pay for a car that you really want/need and will use? It's good logic.

ummmmm i use to be a salesman..everyone gets dicd when financing, buddy.

sorry for the dumb question, but what's "dicd?"

...

 

[degenerate423]

Originally Posted by Hugo

Originally Posted by ATLien Seeko

I like when people come in and say "DONT DO IT!" with no reason or insight as to why not... If you need a car, you want a certain model, and you can afford it, go for it. It's as simple as that. If I could afford it, I definitely wouldnt mind having a car note on a Nissan GT-R. Why not pay for a car that you really want/need and will use? It's good logic.

ummmmm i use to be a salesman..everyone gets dicd when financing, buddy.

sorry for the dumb question, but what's "dicd?"

...

 

[wren32]

My philosphy is if you need a car why not buy a good car.

I bought through the credit union and my payments are $207 a month for a 2006 Impala LT, that has caused me no problems and I have had it over a year now.

Most people get paid every two weeks so just make half the payment every time you get paid because if you get paid every two weeks then you would make a few more payments a year than if you only made 1 payment a month this would mean you would pay the car off faster and you would have less interest to pay in the long run. Most places will never tell you this because they want all the money from you that they can get...

 

[wren32]

My philosphy is if you need a car why not buy a good car.

I bought through the credit union and my payments are $207 a month for a 2006 Impala LT, that has caused me no problems and I have had it over a year now.

Most people get paid every two weeks so just make half the payment every time you get paid because if you get paid every two weeks then you would make a few more payments a year than if you only made 1 payment a month this would mean you would pay the car off faster and you would have less interest to pay in the long run. Most places will never tell you this because they want all the money from you that they can get...