Recession car deals

[sabad66]

i think this is second time this thread has been derailed into judging people who take long finance terms

obviously it's not the smartest thing to do financially speaking, but there is an obvious benefit to financing over a longer term even with interest - LOWER PAYMENTS. and thus more comfortable monthly cashflow.

Is it better to be tight on cash every month and have your car paid off a few years earlier or have a little extra cash every month that you can save/invest? Personally i prefer the latter as long as the interest rate is reasonable (4% or less) and you are making good use of the extra cashflow instead of pissing it away

[max_boost]

oh beyond loves to laugh at others. schadenfreude

[dirtsniffer]

Originally posted by sabad66
i think this is second time this thread has been derailed into judging people who take long finance terms

obviously it's not the smartest thing to do financially speaking, but there is an obvious benefit to financing over a longer term even with interest - LOWER PAYMENTS. and thus more comfortable monthly cashflow.

Is it better to be tight on cash every month and have your car paid off a few years earlier or have a little extra cash every month that you can save/invest? Personally i prefer the latter as long as the interest rate is reasonable (4% or less) and you are making good use of the extra cashflow instead of pissing it away

I find the riskiest part is that if the vehicle is written off after 3 years you'll have to come up with a significant sum to satisfy the lender. many people do not plan for that.

[roopi]

Originally posted by dirtsniffer


I find the riskiest part is that if the vehicle is written off after 3 years you'll have to come up with a significant sum to satisfy the lender. many people do not plan for that.

Vehicle replacement insurance? I've never had it before but I called my insurance company today for a new policy and they said it would be $62.00/year and if the vehicle is written off in the first 5 years you are paid full value. If after 5 years it would be market value. I asked for them to send me the details so I could read through it.

[Aleks]

Originally posted by Xtrema


Financing a car over warranty period is risky anyway. You will be upside down (owe more than what the car is worth) and will have repair bills and car payment at the same time.

If the finance rate is truly 0% with no cash incentives, you'll still be ahead financially comparing the same car after warranty is over vs forking over full amount up front. If you paid cash you will still have those same repair bills.

Originally posted by roopi


Vehicle replacement insurance? I've never had it before but I called my insurance company today for a new policy and they said it would be $62.00/year and if the vehicle is written off in the first 5 years you are paid full value. If after 5 years it would be market value. I asked for them to send me the details so I could read through it.

It's called "gap" insurance. It goes up every year. I've had it on all new cars for first 3 years. After that I drop it as by the 5th year it gets up in price.

[KPHMPH]

Anyone out there see a good recession deal on a diesel truck?

[roopi]

Originally posted by Aleks

It's called "gap" insurance. It goes up every year. I've had it on all new cars for first 3 years. After that I drop it as by the 5th year it gets up in price.

I though GAP insurance pays the difference between what you owe and what the insurance company thinks is current value?

This is the product I am referring to:
http://www.group.tdinsurance.com/en/...ement_cost/faq

[sabad66]

Originally posted by dirtsniffer


I find the riskiest part is that if the vehicle is written off after 3 years you'll have to come up with a significant sum to satisfy the lender. many people do not plan for that.

Fair point but there are insurance products to help with that like roopi mentioned that should cover you for at least the first half of your finance term. I would think most people take this coverage on a brand new car.

Then when you're in the last half of your finance term you should be ahead (i.e. car worth more than you owe, or very close to it), so as long as you have full coverage you should be OK if you write off yoru car then.

[Aleks]

Originally posted by roopi


I though GAP insurance pays the difference between what you owe and what the insurance company thinks is current value?

This is the product I am referring to:
http://www.group.tdinsurance.com/en/...ement_cost/faq

My bad. I always assumed it was called GAP. I just checked my policy and they actually call it "5 year depreciation waiver and inflation". So new vehicle in case of write off.

[HiTempguy1]

Originally posted by Aleks


If the finance rate is truly 0% with no cash incentives, you'll still be ahead financially comparing the same car after warranty is over vs forking over full amount up front. If you paid cash you will still have those same repair bills.

Money now is better than money later. Even financing a vehicle at 5% is worth it relative to your cash flow situation rather than being out $30k/$40k cash (because most people don't have $30k/$40k of liquid cash just hanging around).

I always love the judgement of long finance terms, when most people go with the max length regardless of anything else Less cash out of pocket per month is less cash out of pocket for month.

At the end of the day, it comes down to your personal financial situation. I'm a cheapass and would rather spend that X% of interest on racing, so I drive used vehicles that are cheap.

What is REALLY stupid is buying/leasing a new car every two years like most Beyond ballers do. Now that is just plain dumb and wasteful, but is essentially the exact same thing as long finance terms.

[HiTempguy1]

Originally posted by Twin_Cam_Turbo
Wishful thinking because I know it will never happen but I want a deal on a new base STi.

If you look at Subaru's productivity (measured in $$$) per employee, its insane. Like double what the big 3 earn.

In short, Subaru can sell everything it makes, good luck negotiating them down. If I could walk out the door with a new STi for $35k... I'd be at the dealer right now haha.

[Twin_Cam_Turbo]

Originally posted by HiTempguy1


If you look at Subaru's productivity (measured in $$$) per employee, its insane. Like double what the big 3 earn.

In short, Subaru can sell everything it makes, good luck negotiating them down. If I could walk out the door with a new STi for $35k... I'd be at the dealer right now haha.

Unfortunately you are right any I already knew that. My 1998 STi will have to survive me for a while.

[HiTempguy1]

Originally posted by Twin_Cam_Turbo


Unfortunately you are right any I already knew that. My 1998 STi will have to survive me for a while.

I figured you did, I was more agreeing with you then "telling" you that.

[redblack]

All Subaru wanted to give me for a 2016 wrx sport was a free set of all weather mats and trunk mat. MSRP or bust

[redline]

Originally posted by KPHMPH
Anyone out there see a good recession deal on a diesel truck?

I think Nissan has big rebates on the diesel Titan

[ArjayAquino]

Someone needs to jump on this ASAP.
http://washingtondc.craigslist.org/n...838675242.html

"I have about $70,000.00 invested in the car"

[flipstah]

Yay or nay?

http://www.kijiji.ca/v-cars-trucks/c...ationFlag=true

[Xtrema]

Originally posted by redline


I think Nissan has big rebates on the diesel Titan

$14K off a $75K truck. $10K off on the $45K.

I think that's pretty common discount in the truck world. RAM discount is better.

[R-Audi]

Originally posted by flipstah
Yay or nay?

http://www.kijiji.ca/v-cars-trucks/c...ationFlag=true

Decent... I sold mine last winter for $22.5 with 159km.

[ducaudi]

How do IS-Fs get down to such a low price even with high mileage? Would have imagined these 2UR-GSE's are bulletproof and would retain a higher price.