Financing a car?? - Page 3 - PeachParts Mercedes-Benz Forum

JB3 · #31 03-06-2014, 03:17 PM

Florida have an excise tax on cars?

this is a factor in RI. Right now im operating two 123s with my extensive bits collection for that chassis, but ultimately the wife is gonna want herself a fiat. That will probably be the first car either of us has bought on a payment plan, unless we get a used one for a good price.

Excise tax on the two 123s is like 10 bucks a year, but if we buy a car worth new car prices, we could be paying 1000 bucks a year in property taxes on it annually.

Because of that, it really makes sense to keep old cars going, as long as you dedicate the time to tinkering.

Honestly, you can justify making payments just as soon as fixing the old car gets old. You have a reliable DD now sounds like, even if it does bore you. you just need a toy to tinker with.

Believe me, after the cost of getting married and watching your savings erode like sand in a torrential downpour, you won't believe how much money you suddenly seem to have, and then a toy might be in order.

tbomachines · #32 03-06-2014, 03:18 PM

Quote:

Originally Posted by spdrun

So if I'm young, want what you're selling, and have the money to pay your asking price, you'd refuse to sell it to me? I'd probably flip out if someone told me that, and they'd be lucky not to get a sudden nosebleed. Having someone trek out to see a car, then refusing to sell it to them is frankly unacceptable.

x2, I'd tell them to **** off.

suginami · #33 03-06-2014, 03:45 PM

Quote:

Originally Posted by kerry

If a person is worried about breakdowns, 2 old cars are the solution. Odds are good one will be driveable and two old cars are far cheaper than one new car.

I like this advice.

As a married person, we have three cars, all paid for, all with high mileage.

When one car needs a repair or routine maintenance, we can have it worked on because we always have a backup. It doesn't matter how long it takes for the repairs / maintenance to be completed because we always have a spare car.

Also, I don't believe in financing a car. If you can't afford it, don't buy it. Save your money, and then pay for it with cash. I'm 46 years old, and make a very good living. My wife is able to stay at home with our 10 year old twins, not primarily because my pay is high, but that we live way below our means. The only payment we have is our mortgage. We have no other debt. If we had one (or two) car payments, my wife would probably have to get a part-time job (at minimum), or we would have to cut back on retirement or college savings.

elchivito · #34 03-06-2014, 04:11 PM

The only way I'd do it is if you can qualify for one of the insanely low interest incentives. You'll pay more out the door though as dealers in lots of states make additional coin getting kickbacks from lenders. In this way they can drop the sales price further. It's not legal in all states. You also won't get any factory cash back incentives offered if you take the 0.9% interest rate.
A FICO score of well north of 700 is usually required to get the tier 1 rates.
We've been looking at new cars recently and what kills it for me is the tax and plate fees. In AZ it adds nearly another 3K dollars onto the price of a low 20s car. Ouch!

iwrock · #35 03-06-2014, 04:24 PM

Honda offers 0.9% APR to fresh college grads on new Civics, Accords, and Fits.

They are appliances, but they are damn fine appliances. IMO, the new Accords are pretty nice rides - fully loaded they gave my old E55 a run for the money interior wise.

tbomachines · #36 03-06-2014, 04:48 PM

Quote:

Originally Posted by iwrock

Honda offers 0.9% APR to fresh college grads on new Civics, Accords, and Fits.

They are appliances, but they are damn fine appliances. IMO, the new Accords are pretty nice rides - fully loaded they gave my old E55 a run for the money interior wise.

VW does as well, and they are more lenient. VW also takes the first payment or two off so you save a bit of money.

E150GT · #37 03-06-2014, 04:57 PM

I got 6 more months on the mazder. It sure is nice not worrying about anything other than tires and oil changes but I wont financing another car anytime soon.

macdoe · #38 03-06-2014, 05:15 PM

Wow, TBO, unfortunate circumstances surrounding your experience....and understandable with time constraints.

In between our never ending dose of bieber, I caught a Honda commercial, with them offering 0% financing for 5 years. I thought I saw VW offering the same rates a couple months ago. They have this sales slogan "drivers wanted" up here...Yea, I want cheesy poofs and 52 miles to the gallon too...could you give me the car for free, cause I will never get caught with the making payments thing on a motor vehicle again...did it...did'nt like it....but I am po' so if you can afford it, do it.
Is 0.9% the best they can do?

macdoe · #39 03-06-2014, 05:21 PM

Maybe that is the difference in our dollars right now? Or maybe it is unrelated? What if a person was to get a vehicle financed across the border? Do they allow that, it should'nt affect servicing, should it. A VW tech is a VW tech no matter which side of the border.

elchivito · #40 03-06-2014, 05:57 PM

Cross border financing? Sure, at 25%+ and you'd need to at least have an FN1 immigration status. Mexican credit rates are hideous. But their savings accounts pay nicely. I keep some walking around money at Banca Serfin.

jplinville · #41 03-06-2014, 06:28 PM

Quote:

Originally Posted by kerry

If a person is worried about breakdowns, 2 old cars are the solution. Odds are good one will be driveable and two old cars are far cheaper than one new car.

Dad taught me that a spare car is better than a spare tire...if you get up in the morning and your primary car has a flat, drive the other car so you're not late for work.

barry12345 · #42 03-06-2014, 06:37 PM

Quote:

Originally Posted by spdrun

So if I'm young, want what you're selling, and have the money to pay your asking price, you'd refuse to sell it to me? I'd probably flip out if someone told me that, and they'd be lucky not to get a sudden nosebleed. Having someone trek out to see a car, then refusing to sell it to them is frankly unacceptable.

Easier than that. I will not put it up for sale. Far too many people have suffered with a bad car deal. Younger people are all too often wearing blinders.

When their expectations are not met it can be a serious blow to them. I practice what I say. Many cars of mine have been consigned to the auto wreckers for this reason.

Mölyapina · #43 03-06-2014, 07:10 PM

Quote:

Originally Posted by jplinville

Dad taught me that a spare car is better than a spare tire...if you get up in the morning and your primary car has a flat, drive the other car so you're not late for work.

I guess ya just throw a Smart car in the back of the Tahoe and you're all set...

spdrun · #44 03-06-2014, 07:45 PM

Quote:

Originally Posted by barry12345

Easier than that. I will not put it up for sale. Far too many people have suffered with a bad car deal. Younger people are all too often wearing blinders.

When their expectations are not met it can be a serious blow to them. I practice what I say. Many cars of mine have been consigned to the auto wreckers for this reason.

If someone knows what they're buying, what's the problem? Just set a reasonable price and be honest about the issues it has.

I bought a motorbike that was literally in boxes for $150 in college. I don't regret doing so for a minute. Once it was sorted, it was a fun ride, and sorting it was a hell of a learning experience.

Hatterasguy · #45 03-06-2014, 07:49 PM

I like newer cars they don't break as much, I'm not really into working on cars anymore.

Nothing wrong with a reasonable car note, just don't buy more than you can afford and take 5 years to pay it off.

GM is taking about $10k off the MSRP on the new Silverado, I think this fall I might pull the trigger on one. I suspect when the new F150 comes out the deals will improve.

If I had a garage full of tools, didn't work as much as I do, I'd buy another old car or two to play with.