Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would buy what I can afford in cash.

did you pay cash for your house too?

NP. Are you really comparing a depreciating liability to a home purchase? wow...

even if you pay cash the cost of the car is still depreciating. So you can either spend a while saving for a car or get a loan with a low interest rate and buy it now. I don't see what the big deal is. I am not advocating buying a 50K car/something you really can't afford, but I don't see why a car loan is being looked down upon.

not to mention homes can lose value too. Hello 2005.

Buy new with 0 % or used with what you can afford in cash. I would never finance a used car, throwing away money.

Anonymous wrote:

Anonymous wrote:I would buy what I can afford in cash.

did you pay cash for your house too?

NP. Are you really comparing a depreciating liability to a home purchase? wow...

Walk in with a credit union approval in your pocket.

Don't discuss financing till you have negotiated a final price.

Your goal should be to get the lowest price. Don't let them talk you into discussing monthly payment. Only ask for financing terms once you have agreed to a price.

New car rates are typically much better than used car rates. However, I've found that used car rates from credit unions or banks likes Navy Fed and USAA to be much better than used car rates the dealership offers. OTOH, I've gotten 0% financing and 1.8% financing from dealerships where the lowest from the credit union was around 2%. As long as your credit is good, you should be able to get the most competitive rates available.

Has anyone gotten a used car load through PenFed?

We're gearing up to buy a new used car and I was thinking about looking into joining to get the good rates.

Do you have to move all your accounts there or just open an account? How does it work?