0% Financing for 84 Months

[Anonymous]

It just depends on how disciplined your are with your money. Not sure if you would be applying for any more loans in the near future where your car payment would be considered in DTI so I would take the 0% for 84 months but then continue to pay whatever I could from the leftover. This way you would have less DTI and that makes you eligible for bigger mortgage, etc but you can also pay it earlier.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If it's 0% who cares? Right?

-NP

Well if it gets totaled or you want to sell it before that, you will probably owe more than it’s worth.

That could happen on day 1 or month 84. Stupid “ifs” to consider w/ no interest.

Op, that’s an excellent deal. Make sure to get a good price on the car. Dealers are really desperate for sales. You are in the driver’s seat now.

[Anonymous]

0% interest is always a good deal and honestly if you can get an 80 year loan at 0% you should do it. I wish my entire life expenditures were on 100 year, 0% interest loans

[Anonymous]

Anonymous wrote:If you have cash on hand to pay for the full price of the car, and the question is if you should do that vs. taking a 0% loan (and the price is the same either way), absolutely take the loan. It's literally, and I do mean literally, free money.

This is the only answer that makes sense. If you can pay for it flat out, then it doesn't make sense to not take the free money. Set up automatic payments and either (a) pay more so you can pay off the loan in a shorter time of your choosing or (b) keep the payments low and invest the difference using somebody else's money.

If you have the cash and don't want to continue to make payments, you can always make a balloon payment and pay off the balance (not sure why you would though).

[Anonymous]

Anonymous wrote:

Anonymous wrote:I agree that domestic vehicles lose their value a lot earlier vs. one manufactured in Japan.

Honda’s + Toyota’s hold their values much longer than Fords + Chevys.

Also German luxury cars start out 2-3 times the price of a Japanese car but then after the loan is paid off, the Japanese cars are worth twice as much as the luxury cars.

I don't get German cars. For example, an Audi is a great car, but it cost a premium and service prices are through the roof.

[Anonymous]

Anonymous wrote:I agree that domestic vehicles lose their value a lot earlier vs. one manufactured in Japan.

Honda’s + Toyota’s hold their values much longer than Fords + Chevys.

Probably true. I'm not a truck guy, but I think Ford pickups hold their value. If I was to buy a truck, probably get a Toyota.