08-13-2012 03:56 PM - last edited on 08-15-2012 10:41 AM by MarineVietVet
Different strokes for different folks.
I know from personal experience that if you have a Mod Cut car and need to replace it, you can negate the interest rate of 10%+ if the new car's efficiency makes up for the cost.
For example, going from a 25mpg 1994 model to a 2010 42+ mpg diesel with a 16% interest rate will still be more affordable... if you drive more than 25k miles a year.
On the other hand, if you have no understanding of money and are not in need of a new car, then I can see your logic and agree with you. Those are more emotional mistakes than rational decisions.
08-14-2012 05:54 PM
08-20-2012 09:41 AM
08-20-2012 10:34 AM
How much did you have to put down to get your car payments at the amount that you pay?
08-20-2012 10:50 AM
Assuming that was directed at me, just our trade for 3500. There are tons of rebates out there right now so we also got another 3300 in rebates.
08-20-2012 12:44 PM
No prob! Just to clear up one other point, I have 3 lates in the last year (all older than 6 months), a foreclosure from 4 years ago, and 1 CA for $250 still outstanding to be paid. I have nowhere near stellar credit , but they were able to get me approved. This is my first lease so I hope in the end it all works out, but I definitely got a better car than I could have if I purchased outright, got a car with a great residual, no money down, and lower payments than if I purchased a car worth half the value of the CTS.
08-21-2012 05:03 AM
To those who have recently purchased a vehicle. I plan to buy two vehicles next month. I am a service member stationed overseas and need two for my spouse and I. I plan to purchase a Honda and Toyota, but I want to know where can I get the lowest rates. I plan to apply at Honda and Toyota finance, USAA, PenFed and NFCU. My current score are EQ:799, EX: 804, and TU: 801. Thanks!
08-21-2012 01:12 PM
Wasn't this thread created, specifically, for Auto Loan Approvals using the format below? Just saying...
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