Because if you financed all at 0% then you overpaid on the purchase price.

Sign up, and you can make all message times appear in your timezone. Sign up

Report problem with this ad

Jan 30, 2023
11:55:50am

kccougar Truly Addicted User

Because if you financed all at 0% then you overpaid on the purchase price.

This message has been modified

Originally posted on Jan 30, 2023 at 11:55:50am

Message modified by kccougar on Jan 30, 2023 at 11:56:08am

Report problem with this ad

kccougar

Bio page: kccougar
Joined: May 29, 2001
Last login: Apr 18, 2024
Total posts: 88,330 (15,024 FO)

Report problem with this ad

Messages

Author

Time

Wait is the avg car payment really well over $700/month now?

RockyBalboa

1/30/23 11:21am

You think all the people buying $85k cars are doing so in cash?

1/30/23 11:22am

Or it could be a high credit risk buyer making a bad deal.

BlueFever

1/30/23 11:27am

or you could be buying an average priced new car with 20% down... $720mo

TheLost

1/30/23 11:33am

Keep Dave Ramsey popular

calvindyer

1/30/23 11:24am

What does this have to do with Dave Ramsey?

RockyBalboa

1/30/23 11:39am

72 and 84 month terms on those loans too.

fulano

1/30/23 11:26am

RE: Wait is the avg car payment really well over $700/month now?

md7Coug

1/30/23 11:26am

I have a car payment that is about $800 a month

cougarfann888

1/30/23 11:27am

That is pretty remarkable. The average rate was over 4% at that time nationally.

1/30/23 11:31am

I got a truck with zero percent interest in February 2021

JOPE

1/30/23 11:38am

Such a drag on your monthly cashflow and on an item that goes down in value with literally every mile you drive.

1/30/23 11:34am

But if he could afford it, he made the smart decision. The $33,000 is worth way more than the $800 a month.

JOPE

1/30/23 11:39am

Sure. I just can't stand the thought of forking out that much each month vs. investing it.

1/30/23 11:41am

simple question... what cars do you own now?

TheLost

1/30/23 11:42am

2012 Honda Odyssey and a 2016 Lexus

1/30/23 11:56am

I did the same thing last year. Midlife crises car. And the monthly pmnt makes

DiamondMo

1/30/23 11:50am

I’m the opposite for the same reasons, the thought of taking $50k cash out and putting toward a car makes me sick

JOPE

1/30/23 12:11pm

When interest rates were 1-2% this was great, take out a loan use your own cash

kotacoug

1/30/23 12:32pm

I don't pay for $50k cars so we aren't really in the same realm here.

1/30/23 1:00pm

Weirdly They’ve actually appreciated over the last year.

kotacoug

1/30/23 11:51am

That isn't going to last and has already started to come down.

1/30/23 11:56am

True. But maybe not significantly.

kotacoug

1/30/23 12:26pm

Just imagine the lifestyle you could live (for a few years) if you had no financial sense.

kccougar

1/30/23 11:28am

Average new car is $48K. Payment with 20 percent down monthly $734

Ycrazy

1/30/23 11:30am

doh!.. beat me by seconds

TheLost

1/30/23 11:32am

Um, a $45,00 car with a $10k down payment @ 60mo is $724. When was the last time you bought a car?

TheLost

1/30/23 11:31am

Used cars are not, no average, $45k.

1/30/23 11:35am

How about $35k with a smaller down payment? same $700mo payment..

TheLost

1/30/23 11:39am

I still wouldn't be buying a used car for that amount, but admittedly my car buying methods are not for everyone.

1/30/23 11:42am

I have mentioned this before and really wish I could find it again - but a while

crack

1/30/23 11:33am

Because I like my car and can afford it?

NumbersGuy

1/30/23 11:34am

Brand new EVs ain't cheap. Especially the ones talked about on CB.

HuskerFan2

1/30/23 11:34am

Both my friends had over 1000 and 700 respectively last year. Showed them

Adwight

1/30/23 11:35am

My payments are well above that. We got 0% financing though so why not finance it all.

RdF3

1/30/23 11:41am

Me too. 0% 60 months. 40 months left. But I keep my cars 20 years

Nat Gas Man

1/30/23 11:44am

Because if you financed all at 0% then you overpaid on the purchase price.

kccougar

1/30/23 11:55am

Not necessarily true.

Nat Gas Man

1/30/23 12:00pm

My price was the same before we even talked any financing. It was straight MSRP pre ordered.

RdF3

1/30/23 12:05pm

If you got % you could have got the purchase price lower but it only matters

kotacoug

1/30/23 12:25pm

Yep if you go 0% you are paying for it in the purchase price. Smart buying

kotacoug

1/30/23 12:21pm

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad