how'd you finance your car
05-27-2007, 09:13 PM
#43
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Originally Posted by blk97z28
My dad and mom bought it and now i am slowly paying it off, I put 500 dollars down on it though.
05-27-2007, 10:44 PM
#44
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bought my 2002 z28 from a toyota dealer but financed it through my credit union, total was $14,300 for a clean stock car....intrest rate is 7.5% and my monthly payments are $290 a month 
05-30-2007, 08:27 AM
#45
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I played the game with the banks and the dealer. Kept going back and forthe until I got the lowest rate the bank would give on my car. 11%, but I had to fight to get a loan on a 8 year old car (99 z28). The dealer initially offered 18%..... the bank initially offered 15%. Whatever they initially tell you, they can go lower no matter what, just tell them you have another institution that can do better and ask why you should borrow from them. Then go ask the other "institution" the same and go back to "institution" A, rinse and repeat.....
05-30-2007, 08:39 AM
#46
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Check in hand 
. Invested in the stock market when I was in high school. If you have good credit, join a credit union and go through them. They always seem to have good rates and alot of credit unions do (CUDL) credit union direct lending, meaning that alot of credit unions work right with the dealership to get the members the best rates. Check it out. Good luck
. Invested in the stock market when I was in high school. If you have good credit, join a credit union and go through them. They always seem to have good rates and alot of credit unions do (CUDL) credit union direct lending, meaning that alot of credit unions work right with the dealership to get the members the best rates. Check it out. Good luck 
05-30-2007, 02:21 PM
#50
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Paying cash doesn't establish credit. Most banks etc. also pay interest on your money that they keep for you. So, you guys paying cash aren't gaining any interest. Cars aren't normally an investment. Normally used cars interest rates are higher than new. For qualified buyer how about 2.9 for 60 mths on used Cobalts and G-6's. Most brands have special interest rates for a particular product or two.
Parents are normally the best way to receive lower interest rates on the first car or truck. Short term leasing 24 to 39 mths is also a way to get a better car with lower credit.
Credit follows you your whole life so don't screw it up you'll pay for a long time.
Parents are normally the best way to receive lower interest rates on the first car or truck. Short term leasing 24 to 39 mths is also a way to get a better car with lower credit.
Credit follows you your whole life so don't screw it up you'll pay for a long time.
05-30-2007, 05:32 PM
#52
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bought my car cash after saving for a few years during highschool. bought it the first summer afterwards with grad money and a family loan from the parents. (got my car at 18) paid it off in 7 months and its been just gas and insurance since. only paid 8,500 for it too.
05-30-2007, 05:48 PM
#53
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Originally Posted by Jakes Dad
Paying cash doesn't establish credit. Most banks etc. also pay interest on your money that they keep for you. So, you guys paying cash aren't gaining any interest. Cars aren't normally an investment. Normally used cars interest rates are higher than new. For qualified buyer how about 2.9 for 60 mths on used Cobalts and G-6's. Most brands have special interest rates for a particular product or two.
Parents are normally the best way to receive lower interest rates on the first car or truck. Short term leasing 24 to 39 mths is also a way to get a better car with lower credit.
Credit follows you your whole life so don't screw it up you'll pay for a long time.
Parents are normally the best way to receive lower interest rates on the first car or truck. Short term leasing 24 to 39 mths is also a way to get a better car with lower credit.
Credit follows you your whole life so don't screw it up you'll pay for a long time.
DON'T BEND OVER FOR CORPORATE AMERICA, FOLKS. YOU DON'T HAVE TO PAY INTEREST LIKE A FOOL.
05-30-2007, 07:26 PM
#55
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Originally Posted by LS1rulz
If I'm paying 6% and a savings account only pays 2% (that's a high one), I'd be losing money.
That's what's nice about having good credit, I can get car loans for 4-5% less than I can get investing my money, so I'm up 4-5% even though I'm paying interest on the loan.
Hell, you can even get simple bank CDs for 5-6% if you look around, and if you have good credit (one reason why that's important) you can qualify for new cars loans in the 0.9-2.9% range when offered. So you'd still be ahead.
Originally Posted by LS1rulz
Banks loan for homes anyway, so that doesn't matter. So the home thing is out.
05-30-2007, 11:13 PM
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DAMN!!! Some of you guys get some horrible rates, the highest rate i've ever had was 7% and that's my T/A, rates are just up now. I'm 24 now btw, bought my truck 2.5 years ago and it's 4.9%, damn I miss those rates. 
