Recession car deals

[Darkane]

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I think the sales numbers for March and April may cause some interesting manufacturer promotions in May/June. I don't think it will be crazy but the typical low finance long term deals with several thousand off to get people to consider buying a new car when even those that have the money are being cautious.

I like this train of thought, and I was looking at the same thing.

The problem is no vehicles have been produced either, the economy isn’t stopped, it’s just depressed. The demand is actually outpacing supply, because supply is essentially zero except for inventory on lots.

Curious to see what happens. I’m thinking a lot of 0% for up to 96 months!

[adam c]

96 month car loans should be illegal, anything over 5 years is too much
I feel it allows car manufacturers to inflate the cost of their vehicles

[Twin_Cam_Turbo]

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96 month car loans should be illegal, anything over 5 years is too much
I feel it allows car manufacturers to inflate the cost of their vehicles

Half the population would be stuck driving Chevy Sparks.

[adam c]

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Half the population would be stuck driving Chevy Sparks.

Personally I think car manufacturers over inflate their prices because people can get 96 month loans

[ercchry]

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Personally I think car manufacturers over inflate their prices because people can get 96 month loans

At least it’s not 5yr finance with balloon payment at the end

[ragu]

Looks like it’s home already. One owner F30 Lsb with manual - would have matching cars!

[Team_Mclaren]

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96 month car loans should be illegal, anything over 5 years is too much
I feel it allows car manufacturers to inflate the cost of their vehicles

What about mortgage on a 25year am, should we lower that to 15 year too? we'd all be living in a box lol.

[Disoblige]

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What about mortgage on a 25year am, should we lower that to 15 year too? we'd all be living in a box lol.

But 25 years on such an amount makes sense. If you equate a typical car (let's say $35k all-in finance price), anything more than 60 months seems excessive.

[Tik-Tok]

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Half the population would be stuck driving Chevy Sparks.

That's exactly what half the population should be driving.

[Disoblige]

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That's exactly what half the population should be driving.

If you wanna die with millions in your bank account.
Or that is what I tell myself everyday..

[adam c]

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What about mortgage on a 25year am, should we lower that to 15 year too? we'd all be living in a box lol.

be realistic...
don't compare a 400k purchase to a 30-40k purchase

Now if you want to compare a 25 year mortgage to a 40 year mortgage, well you already know how that goes

[Twin_Cam_Turbo]

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That's exactly what half the population should be driving.

Im not saying I disagree.

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At least it’s not 5yr finance with balloon payment at the end

Isn’t this a BMW speciality lol

[ercchry]

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Im not saying I disagree.

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Isn’t this a BMW speciality lol

Always thought it was a Chrysler thing? Basically an open term lease

[Team_Mclaren]

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be realistic...
don't compare a 400k purchase to a 30-40k purchase

Now if you want to compare a 25 year mortgage to a 40 year mortgage, well you already know how that goes

i know it's not a true comparison, but 30k vs 300k, so use the 5 year as guideline, would you say a mortgage can be AM @ 50years then? Don't tell me the depreciation argument, house prices ain't guaranteed either... (see US).

I guess the line has to be drawn somewhere. If max AM is 60 months, you'd just push everyone to a lease, which another group of people would say it's the worst idea ever.... one can never win...

[flipstah]

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At least it’s not 5yr finance with balloon payment at the end

Holy shit

Pass do not collect $200

[Aleks]

I've done balloon with BMW. Basically a lease that you have to buy out at end at preset amount or at any time really. BMW even had leasing on their CPO cars back in the day, not sure if they still do.

[austic]

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I've done balloon with BMW. Basically a lease that you have to buy out at end at preset amount or at any time really. BMW even had leasing on their CPO cars back in the day, not sure if they still do.

ya I have done it before too with BMW and Mercedes, The rates are soo damn low I the money is better spent in appreciating assets instead of tying it up in the car. I just get rid of it at the end and put the differential on a new one.

Not really as big as a problem as the worriers on there make it sound.

[killramos]

If the rate is right I don't see the issue.

Its the 96 Month financing at 6-8% that I take more offense with. People essentially just paying interest on their cars.

[flipstah]

And I thought 60 months was long. I can't wait for my car to be done.

[Disoblige]

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If the rate is right I don't see the issue.

Its the 96 Month financing at 6-8% that I take more offense with. People essentially just paying interest on their cars.

It is still an issue because you are relying on people to be sensible. Don't even give them an option to destroy themselves.

Some person who can only afford $400 a month can now buy a car that is $15,000 more expensive just because they can "afford it" and exposing themselves to more risk in case things change.

This grows exponentially if you increase that monthly payment (ex: $600 for 60 months = $36k, 96 months = $57.6k)