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

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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

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kccougar

Bio page: kccougar
Joined: May 29, 2001
Last login: May 4, 2024
Total posts: 88,536 (15,070 FO)

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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

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