LogFAQs


Current Events > Yo is car dealer financing worth it?

Topic List
Page List: 1
lilORANG
06/20/20 9:58:13 AM
#1:


Looking at new cars and how to buy and everything says dealer financing is a scam but this shit ranges from 0%apr to .09 and all the banks around here are doing like 2.5 - 4% so am I missing something?
---
GameFlux: Unofficial GameFAQs board browser
... Copied to Clipboard!
Colorahdo
06/20/20 10:01:30 AM
#2:


don't buy something if you can't afford it tbh

---
But those enemies of mine who did not want me to be king over them - bring them here and kill them in front of me ~Jesus Christ
... Copied to Clipboard!
1337toothbrush
06/20/20 10:02:30 AM
#3:


... Copied to Clipboard!
Romulox28
06/20/20 10:02:31 AM
#4:


its not a scam, they will finance through a bank anyway.

what you really need to watch out for is that the dealer will offer you really good interest rates on a very long loan. So you take out a 6 year loan on a car and a few years in realize you have negative equity on the car

---
https://imgur.com/LhwwG
... Copied to Clipboard!
Error1355
06/20/20 10:02:34 AM
#5:


I had a 0% APR 5 year loan from a Ford Dealership for my Fusion back in 2014. Literally can't beat that =P

---
Welcome home, shed your skin and expose your bones.
Take my hand, follow us into the black so far that we can't get back.
... Copied to Clipboard!
deupd_u
06/20/20 10:04:50 AM
#6:


Depends on the length. A lot of the times, they'll straight up ask you what you want to pay per month, and give you that, even though the loan may be 5 years+, or whatever.

---
Snipers don't shoot at paper, they shoot watermelons.
https://imgur.com/jo511lG
... Copied to Clipboard!
Serious Cat
06/20/20 10:05:15 AM
#7:


Romulox28 posted...
its not a scam, they will finance through a bank anyway.

what you really need to watch out for is that the dealer will offer you really good interest rates on a very long loan. So you take out a 6 year loan on a car and a few years in realize you have negative equity on the car
You can pay off a long loan early though.

---
I are Serious Cat
This is serious thread
... Copied to Clipboard!
lilORANG
06/20/20 10:06:38 AM
#8:


Serious Cat posted...

You can pay off a long loan early though.

And if it's a 0% apr what's it matter if it's a long loan if you were planning to keep the car for the duration of the loan anyways?
---
#FeelTheBern
https://imgur.com/q5z4CUu https://imgur.com/6B9oFXh https://imgur.com/sy42Dlf
... Copied to Clipboard!
Romulox28
06/20/20 10:10:53 AM
#9:


Serious Cat posted...
You can pay off a long loan early though.
yea but few people will really do that, unless you get a nice windfall of cash or something you will most likely have the car loan slide into autopay and you wont pay it any mind until it's time to reassess your financial situation

lilORANG posted...
And if it's a 0% apr what's it matter if it's a long loan if you were planning to keep the car for the duration of the loan anyways?
i guess this boils down to how you like to manage your finances

---
https://imgur.com/LhwwG
... Copied to Clipboard!
Serious Cat
06/20/20 10:22:41 AM
#10:


Romulox28 posted...
yea but few people will really do that, unless you get a nice windfall of cash or something you will most likely have the car loan slide into autopay and you wont pay it any mind until it's time to reassess your financial situation
I always paid mine manually. I scheduled my due date on my car payment so it generally wouldn't be paid during the same pay period as rent, then I got ahead enough that that didn't matter, then I just outright paid it off.

---
I are Serious Cat
This is serious thread
... Copied to Clipboard!
Topic List
Page List: 1