Financing deals
03-14-2018, 11:10 PM
#61
Instructor
Borrowing money period is horrible advice. I didn't know this was the sound advice thread.
Truly the best advice is to save your money and buy when you have cash. The money as you save will grow too. There are plenty of savings accounts out there that pay 3.5-5% which will get you to your goal faster. Just think though, you are going to lose out on all of that compound interest that your money could keep making if you don't buy the car.....
At 3% interest, you would save nearly $1700 by paying cash rather than borrowing. That's not even counting the money you will money while saving for it.
Truly the best advice is to save your money and buy when you have cash. The money as you save will grow too. There are plenty of savings accounts out there that pay 3.5-5% which will get you to your goal faster. Just think though, you are going to lose out on all of that compound interest that your money could keep making if you don't buy the car.....
At 3% interest, you would save nearly $1700 by paying cash rather than borrowing. That's not even counting the money you will money while saving for it.
03-15-2018, 02:03 PM
#62
Burning Brakes
I just got 2.5% on my '11 GS from a local credit Union (SunCoast). They're going to refinance my DD for the same rate. They even offer up to 72mos at the same rate with no early payoff penalty. My credit is in the high end of good, above average but not "excellent" and I still qualified for that rate, though my DTI was strong. Financing deals are still out there!!!
03-15-2018, 02:41 PM
#63
Race Director
This thread went off the rails some time ago...
03-16-2018, 08:31 PM
#65
Are low miles a must? i have poverty high mile 08 but to a certain point i was more concerned with he car sitting for extended periods of time over milage.
i love this GS although i heard the 4LT leather can be a pain
https://www.cargurus.com/Cars/invent...ting=185712405
i love this GS although i heard the 4LT leather can be a pain
https://www.cargurus.com/Cars/invent...ting=185712405
03-16-2018, 09:31 PM
#67
Race Director
03-16-2018, 09:36 PM
#68
03-16-2018, 10:00 PM
#69
03-17-2018, 01:05 AM
#70
This info was on the stock channel last week. Average car loan is $31,099, average monthly payment is $515 and average loan length is 5 years and 9 months. Nothing was learned during the last recession. These figures are new all time highs.
Last edited by millsy; 03-17-2018 at 01:07 AM.
03-20-2018, 03:35 AM
#72
Burning Brakes
03-20-2018, 04:10 AM
#73
Instructor
03-20-2018, 08:46 PM
#75
