One caveat: the new car you want may not be available for months.

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Apr 28, 2024
6:06:52pm

Great38 All-American

One caveat: the new car you want may not be available for months.

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Great38

Bio page: Great38
Joined: Aug 30, 2013
Last login: May 13, 2024
Total posts: 4,708 (0 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

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

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%.

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

Apr 28, 6:53pm

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