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Apr 28, 2024
6:02
:38
pm
Jdoc
All-American
Right now it is dumb to buy a used car, especially if you are financing. Used
car rates are higher than new and used car prices are not that much less than new cars if the car is 1-3 years old.
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Jdoc
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Jdoc
Joined
Feb 8, 2018
Last login
May 29, 2024
Total posts
10,539 (19 FO)
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Messages
Author
Time
Let's say you have $10,000 to use as a down payment on a new car, but the dealer
cvd6262
Apr 28, 5:59pm
If they are giving a 1.9% rate then they are subsidizing it. Negotiate a lower price and pay the $10k down.
HarlemCoug
Apr 28, 6:02pm
It's likely the manufacturer subsidizing the rate not the dealer. There may
NC CougarBear
Apr 28, 6:17pm
Doesn’t matter who is subsidizing it. Still the same. If you can get an ultra
kotacoug
Apr 28, 6:19pm
This is not necessarily true. Manufacturers don't match cash rebates with
Plato
Apr 28, 6:22pm
Banks often often offer low rate deals through dealers
Cougrrrs Roll
Apr 28, 6:50pm
Right now it is dumb to buy a used car, especially if you are financing. Used
Jdoc
Apr 28, 6:02pm
One caveat: the new car you want may not be available for months.
Great38
Apr 28, 6:06pm
True
Jdoc
Apr 28, 6:07pm
I can pay cash and I’d finance for that deal.
LaserCoug
Apr 28, 6:03pm
Just went through this. I put half down and financed the rest at Honda’s 2.9%.
Mexicougazul
Apr 28, 6:07pm
That seems really low! I couldn't get anything close to that a month ago.
Great38
Apr 28, 6:07pm
Money market funds are paying ~5%. You could put the $10k there and make gas
Abe Froman
Apr 28, 6:14pm
I'd be wary of the investing climate right now; I wouldn't make assumptions about returns--not even as low as 2.9%
Underhill
Apr 28, 6:18pm
You can get 5% guaranteed right now and even 6.5% from a decent rated issuer.
RdF3
Apr 28, 6:25pm
You can beat that with basically no risk with treasury bonds.
JuicyJam
Apr 28, 6:26pm
You can get a 5% CD or money market if you want to be more liquid.
Acorn
Apr 28, 6:38pm
Thanks--good responses
Underhill
Apr 28, 7:16pm
If you qualify for the low interest rate it's probably good to take it
Cougrrrs Roll
Apr 28, 6:53pm
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