Anonymous
07/12/2013 10:38
Subject: Is financing a new car really stupid?
most financial planners use this rule, if you can't pay cash don't buy it. Not saying you can't finance it but they want you to have that amount saved up in cawe you run tinto trouble like loss of job, divorce, etc etc.
Anonymous
07/12/2013 10:34
Subject: Is financing a new car really stupid?
Anonymous wrote:No, especially if you can get a 0 or 1% interest rate.
We got 0% on our first new car, a couple years ago, and it was awesome. This last car we bought almost entirely in cash, but had to finance at least $5k in order to get the $2000 rebate. We paid it off a few months later. Definitely worth it.
Anonymous
07/12/2013 10:27
Subject: Is financing a new car really stupid?
A new car costs almost the same as a used one now. THe way that people drive leases and forgo maintenance and the low cost difference made me reconsider my used only stance .
Anonymous
07/12/2013 10:08
Subject: Is financing a new car really stupid?
I had never bought a new car and never planned on it, but ended up buying one in December because the difference between a late-model, low milage used car and a new car was minimal. I have a 3 year, 1% interest rate on the car note, so I don't feel too bad.
Anonymous
07/11/2013 20:42
Subject: Is financing a new car really stupid?
Anonymous wrote:Used cars used to be a decent deal but anymore, the high priced of used cars combined with the super low interest rates on new ones, makes new a better option. You get the warranty, get schedule maintenance.
There are some models that are still a great bargain used because of their quick depreciation like the Chevy Impala, but on the whole, used prices are too high now.[/quote
OP here. This is exactly what I am seeing. A decent used car costs almost as much as a new one!
I don't love the idea of adding a car payment into my budget, but not having to dip into my savings to make the purchase is a positive.
Anonymous
07/11/2013 20:21
Subject: Is financing a new car really stupid?
No, especially if you can get a 0 or 1% interest rate.
Anonymous
07/11/2013 20:20
Subject: Is financing a new car really stupid?
You cam also get super low interest rates on used cars. Check out credit unions. I have seen used car rates as low as .74%.
Anonymous
07/11/2013 18:41
Subject: Is financing a new car really stupid?
Capitalism is awesome.
With a low economy, more people have turned to the Used market which in turn has driven up the demand and shrunk the supply. This has caused the price gap between New and Used to close significantly.
In the New market, dealers are still receiving inventory on the same schedule as before, except those people that turned to the Used market, are no longer there for the New market. The New market dealers MUST move cars due to overhead and corporate requirements.
Thats the situation now. The deals can be found in the New market if you work at it and remember that the dealers work for YOU and should bend over backwards to get your money.
Make sure you have financing before you go in and you will have MUCH more bargaining room.
With a low economy, more people have turned to the Used market which in turn has driven up the demand and shrunk the supply. This has caused the price gap between New and Used to close significantly.
In the New market, dealers are still receiving inventory on the same schedule as before, except those people that turned to the Used market, are no longer there for the New market. The New market dealers MUST move cars due to overhead and corporate requirements.
Thats the situation now. The deals can be found in the New market if you work at it and remember that the dealers work for YOU and should bend over backwards to get your money.
Make sure you have financing before you go in and you will have MUCH more bargaining room.
Anonymous
07/11/2013 18:35
Subject: Is financing a new car really stupid?
Used cars used to be a decent deal but anymore, the high priced of used cars combined with the super low interest rates on new ones, makes new a better option. You get the warranty, get schedule maintenance.
There are some models that are still a great bargain used because of their quick depreciation like the Chevy Impala, but on the whole, used prices are too high now.
There are some models that are still a great bargain used because of their quick depreciation like the Chevy Impala, but on the whole, used prices are too high now.
Anonymous
07/11/2013 18:31
Subject: Is financing a new car really stupid?
Anonymous wrote:Its your money. If you feel the terms are acceptable, and you are willing to pay the asking price, then why do you care what people think?
Its YOUR money.
+1
just make sure it fits in your budget.
Anonymous
07/11/2013 18:31
Subject: Is financing a new car really stupid?
Its your money. If you feel the terms are acceptable, and you are willing to pay the asking price, then why do you care what people think?
Its YOUR money.
Its YOUR money.
Anonymous
07/11/2013 18:30
Subject: Is financing a new car really stupid?
Yes.
Get certified used. Above PP afraid of used cars is just weird.
Get certified used. Above PP afraid of used cars is just weird.
Anonymous
07/11/2013 18:29
Subject: Is financing a new car really stupid?
No, it is good idea with low interest rates. Don't
buy used unless you know a lot about cars or have a friend who is a mechanic. Suzie Orman is a con artist.
buy used unless you know a lot about cars or have a friend who is a mechanic. Suzie Orman is a con artist.
Anonymous
07/11/2013 18:26
Subject: Is financing a new car really stupid?
Depends on the interest rate.
Anonymous
07/11/2013 18:24
Subject: Is financing a new car really stupid?
According to Susie Orman it is, but wouldn't it be worse to buy used and risk ending up with a "lemon"?