Hi guys. I'm in the market to buy a car and the Evo is top on my list..I have some financial questions about it. If there is anyone who wouldn't mind answering a few questions for me, and you know some about car financing and what not please PM me or contact me on AIM, sn is rhuff96b. Thanks much guys!

Ron

 

this would probably work better if you just posted the questions. then everyone could put in there own .02. just an idea.

 

my $0.02 if you're worried about financing, get another car. Between payments, insurance and maintenance you're looking at a good chunk of change every month.

 

^^^ exactly.

Put it like this, if you can't afford to pay up to or a lil over a $1000 a month to maintain the evo, than its not for you. If you wanna be able to maintain an evo for less than $1000 a month be sure to have a serious downpayment or a good trade in, don't forget... it still a $30,000 dollar car.

 

OK...I have 30-35k tax free $$ coming to me.. I plan to use it on the Evo VIII. What would be the best way to use this in Financing/refinancing to get the best rates, etc.
Thanks.
Ron

 

if you have a good job, dont finance shiz. it will save yourself in the long run. cash you could get the car at invoice (i would assume if you can bargain) and use your income to mod/fix/maintain. sure the car is expensive but if you can buy it outright then do it. i am not sure why you wouldnt. it is hard to juggle a payment, maintenance and on top of that to deal with insurance and mods. sans payment= one less thing to hassle about. if i didnt have to make the payment, i would be super modded.

 

plus, aren't insurance rates that much lower if you don't have to finance the car? My bank requires that I have full coverage, and minimum levels of each type of coverage, as part of my loan (to protect their investment). Without that loan hung over my head, I'd carry a lot lighter insurance plan.

If you got 30K coming that you can spend on a car then I'd pay cash on the spot (what evolved said)

 

Yea, I'm thinking of buying it outright, but I'd like to finance it for at least 6 months first to build my credit..then just pay it all off. Input on that?
Thanks.

Ron

 

you'd have to do the loan for at least a year.

If you want to build credit, go to stores that offer "instant credit". Home Depot. Eddie Bauer. Circuit City. Get a card, buy something, pay the minimums for a year and then pay off the balance. Do be careful because it's REAL easy to just charge it. I honestly wish I'd never applied for my first credit card because now making the payments is a pain in the ***... not that I can't make the payments but I can think of a lot of cool toys that the monthly payments would buy

My wife thinks you should put 20K down and take a loan for the balance. I think you'll pay more in interest and insurance (because they'll probably make you cover at a higher rate than you might otherwise) than it's worth, but there's another opinion for you

 

engineer boy has a good point, if you want to build credit your car isnt neccesarily the best, or easiest thing to do it on. credit cards, and credit recieved through stores for a new tv, or furniture will probably be better. no matter what the whole point of this is to get the car paid for. all the hassle is gone after that. get credit somewhere else. i am serious, buy the car out right, and then work on the credit thing.