Financial Approval
Evolved Member
Joined: Jun 2007
Posts: 690
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From: Boston
People have to make their own mistakes I say. No matter how much good advice people throw around in this thread, if he really wants the car he will buy it. It sounds like he isn't that far away from being able to afford it. I just bought one and according to the DTI ratio you give I can't afford mine. I paid 17k up front though and did the 4 year lease at 2.9 percent apr. I make more than enough to afford it, meaning its less than a weeks worth paycheck by a few hundred bucks, but by your logic I shouldn't have bought one. I just graduated college and got a new job and I wanted to reward myself with a fun *** car. So I did it, life is short, I might get hit by a bus tomorrow, mind as well enjoy life while I can.
Invest it in what with the economy in shambles? He might as well pay it off faster and save more money in the long term. Unless he's able to find an investment that can guarantee him a higher interest rate than his own car loan interest, he's losing money. If you have the cash to pay off a car, then do it. You'll end up paying sticker as opposed to several thousand dollars more over a loan term.
-M
-M
Why pay a 35K car up front when you can invest 35k and take out a loan at 0%. Why risk your own money to buy a car that will depreciate? Use the banks while you put yours in an interest savings or investment that will earn you anything higher than 1%. Why lose money when you can make money?
I don't see how you can say that...
Why pay a 35K car up front when you can invest 35k and take out a loan at 0%. Why risk your own money to buy a car that will depreciate? Use the banks while you put yours in an interest savings or investment that will earn you anything higher than 1%. Why lose money when you can make money?
Why pay a 35K car up front when you can invest 35k and take out a loan at 0%. Why risk your own money to buy a car that will depreciate? Use the banks while you put yours in an interest savings or investment that will earn you anything higher than 1%. Why lose money when you can make money?
Even CDs is a good options. I would put 0 down and put the cash i was going to put down into a CD at 5%. make money instead of losing. So the car ends up even cheaper in the end. No worries of losing it if invested into wrong stock.
I just called ANAHEIM and I got approved... I am going to get a SWEET deal on a GSR +SSS.
Could probably save another 1000 if I waited till the end of the month, but I want to have my options now.
Could probably save another 1000 if I waited till the end of the month, but I want to have my options now.
I don't see how you can say that...
Why pay a 35K car up front when you can invest 35k and take out a loan at 0%. Why risk your own money to buy a car that will depreciate? Use the banks while you put yours in an interest savings or investment that will earn you anything higher than 1%. Why lose money when you can make money?
Why pay a 35K car up front when you can invest 35k and take out a loan at 0%. Why risk your own money to buy a car that will depreciate? Use the banks while you put yours in an interest savings or investment that will earn you anything higher than 1%. Why lose money when you can make money?
Evolved Member
Joined: Jun 2007
Posts: 690
Likes: 0
From: Boston
Newbie
Joined: Feb 2007
Posts: 87
Likes: 0
From: Rahway, NJ
Ok i was approved for 0 APR 60 Months at my local dealer, Now with bout 5k down i would be paying $497 a month. How does that deal sound? Im going to owe 29k off bat. Sorry not my thread but would love the help to see if im doing good here. Got to go bak Monday to close out the deal. Funny thing is if they would drop the price of a Ralliart i would have gone that route if it was like 25k. But for 27k and no 0 APR special i was like that is stupid.
So i guess mitsu is gettin out of me wat they want lol.
So i guess mitsu is gettin out of me wat they want lol.