Anonymous
10/14/2014 12:16
Subject: What is your car payment?
1 payment, $475/month on a 2013 fully loaded Ford Escape (list price $35k, down to $26k w/trade in & deals).
1 other car, now 9 years old, no payment.
The Escape will be driven until it dies.
1 other car, now 9 years old, no payment.
The Escape will be driven until it dies.
Anonymous
10/14/2014 11:53
Subject: What is your car payment?
zero. purchased years ago with cash, keep them til they die. We commute on metro most days anyway. These are weekend/errand cars.
Toyota & Mazda cars.
Toyota & Mazda cars.
Anonymous
10/13/2014 23:23
Subject: What is your car payment?
Anonymous wrote:Anonymous wrote:Ok, am I the only one who thinks it just plain stupid to pay cash for a car if you can get 0% financing?
Why loose the opportunity for you money to earn even a tiny bit of interest ? I'm not saying don't have the cast in reserve, but why not take advantage?
Negotiate a lower price when you pull out checkbook and offer to write for the full amount. I hate the obligation of making a payment each month.
You get a lower buy price with financing. They make money either selling your loan or servicing your loan.
My Dh had the unfortunate job of selling cars in college. He's a professional at negotiating the best price.
Anonymous
10/13/2014 15:22
Subject: What is your car payment?
Anonymous wrote:Ok, am I the only one who thinks it just plain stupid to pay cash for a car if you can get 0% financing?
Why loose the opportunity for you money to earn even a tiny bit of interest ? I'm not saying don't have the cast in reserve, but why not take advantage?
Negotiate a lower price when you pull out checkbook and offer to write for the full amount. I hate the obligation of making a payment each month.
Anonymous
10/13/2014 12:30
Subject: What is your car payment?
DCUM'ers, yawn! Why write the obvious. Bye.
Anonymous
10/13/2014 12:05
Subject: Re:What is your car payment?
I just cannot decide what kind of car to get. That is my problem.
Anonymous
10/13/2014 07:38
Subject: Re:What is your car payment?
Anonymous wrote:I am looking at a 2012 or 2013 luxury sport sedan. Maybe a BMW 535, Mercedes E350, Audi A6 or Lexus GS350. I want a nice car and I want the status symbol. Not afraid to admit it. Obviously I can get a Camry or Accord or even something boss like a Chrysler 300 for much less newer, but I want people to know I am successful and I spend a lot of time in my car. I'm 45 and I want to reward myself. That said, I try to be practical, so I think by buying a 2-3 year old low mileage good car I am saving a ton on depreciation and still getting a solid late model used car with a great warranty. Yeah, its dumb, but I make about $350K, my wife makes over $150K, I'm not thrilled with my marriage or my job and I need something to make me happier! Driving a 12 year old SUV with horrible gas mileage now.
While I'm not the same age as you, I did something similar- and we love it. Bought a 2-3 year old low mileage BMW with every single package included and bought the extended warranty as well. We got a great deal and we're very happy with it. Anytime we need anything done (oil change, etc), BMW treats you like a king. I would never buy it brand new- the depreciation is a killer.
Anonymous
10/13/2014 07:28
Subject: Re:What is your car payment?
Anonymous wrote:$0
Always buy for cash.
Financially stupid idea. With all the 0% and $1.99% deals out there you would rather use your own money?
Anonymous
10/13/2014 05:43
Subject: What is your car payment?
My car payment is zero. I drive a 12 year old car and my husband drives his 8 year old car, also paid off. They run perfectly fine so no need to run out and buy the latest and greatest. Meanwhile we've been banking the difference for when we will need a new car in case of accident or whatever.
Anonymous
10/12/2014 23:56
Subject: Re:What is your car payment?
I am looking at a 2012 or 2013 luxury sport sedan. Maybe a BMW 535, Mercedes E350, Audi A6 or Lexus GS350. I want a nice car and I want the status symbol. Not afraid to admit it. Obviously I can get a Camry or Accord or even something boss like a Chrysler 300 for much less newer, but I want people to know I am successful and I spend a lot of time in my car. I'm 45 and I want to reward myself. That said, I try to be practical, so I think by buying a 2-3 year old low mileage good car I am saving a ton on depreciation and still getting a solid late model used car with a great warranty. Yeah, its dumb, but I make about $350K, my wife makes over $150K, I'm not thrilled with my marriage or my job and I need something to make me happier! Driving a 12 year old SUV with horrible gas mileage now.
Anonymous
10/12/2014 21:41
Subject: What is your car payment?
nope -- it was a former corporate fleet car. They actually had some rental cars too, but I preferred the one I bought.Anonymous wrote:Anonymous wrote:$357/mo for my Camry, bought a 1-year old ex-fleet with $1k down.
I always drove beaters before, so this feels like a luxury car to me! I don't care much what I drive , but I wanted something with newer safety features and high reliability.
You bought a former rental car?
Anonymous
10/12/2014 21:38
Subject: What is your car payment?
Anonymous wrote:Anonymous wrote:$357/mo for my Camry, bought a 1-year old ex-fleet with $1k down.
I always drove beaters before, so this feels like a luxury car to me! I don't care much what I drive , but I wanted something with newer safety features and high reliability.
You bought a former rental car?
Not pp, but nothing wrong with that. Bought a Chrysler Pacifica in 2009. Drove it HARD and finally traded it in 2 months ago. We probably put less than $1000 of work in the car in the time we had it.
Anonymous
10/12/2014 21:37
Subject: What is your car payment?
Anonymous wrote:Ok, am I the only one who thinks it just plain stupid to pay cash for a car if you can get 0% financing?
Why loose the opportunity for you money to earn even a tiny bit of interest ? I'm not saying don't have the cast in reserve, but why not take advantage?
I agree with you. I think the adamant advice to only buy cars in cash is outdated, from a time when car loans were offered at 5+%, and the advice is geared towards people who otherwise are buying more than they really can afford anyway. With 20k in cash, buying a car is not the best use of that money. I earn a higher return in my retirement account and even basic savings earns you 0.5% which is more than the nothing you're being charged by the dealership with their financing.
Anonymous
10/12/2014 21:36
Subject: What is your car payment?
Anonymous wrote:$357/mo for my Camry, bought a 1-year old ex-fleet with $1k down.
I always drove beaters before, so this feels like a luxury car to me! I don't care much what I drive , but I wanted something with newer safety features and high reliability.
You bought a former rental car?
Anonymous
10/12/2014 21:31
Subject: What is your car payment?
Most of the cars I see people driving around are used - CarMax or DarCars sticker is clearly in the back corner.
We bought a Hyundai Elentra in 2011 - put about 2.5k down and got a car loan at 2.9%. A few months later all the dealerships starting offering 0% financing, so we missed that boat. Anyway, monthly payments are $260. It's a great car - no problems and good milage.
We bought a Hyundai Elentra in 2011 - put about 2.5k down and got a car loan at 2.9%. A few months later all the dealerships starting offering 0% financing, so we missed that boat. Anyway, monthly payments are $260. It's a great car - no problems and good milage.