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/biz/ - Business & Finance

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50194440 No.50194440 [Reply] [Original]

>purchasing a car
>lets see what rates I can get on this
>Bank: hurr with your 750+ credit score best I can do is 6.7% APR
>Buy the car in cash
Banks are fucking stupid like you coulda gave me a 3% loan and we would both win but noooooo. My special number indicates Im a good boy with debt but I'll just not involve yall if your going to insult me.

>> No.50194685

>>50194440
Bro you get fucked if you lease a new car, buy a new car, or buy a used car. Ideal to pay in cash and just treat it as a money pit. Unless you own one of the cars absolutely JUSTED at the Classic Le Mans this weekend, you will always be in the red with a car. Just lease that shit if you can't pay in cash but don't put any money down, or get a shitbox truck and call it a day.

>> No.50194780

>>50194440
>Not learning auto repair and buying direct from a police auction

>> No.50194903

yeah a car is always going to be a money pit, I write it up as depreciable in my spreadsheets and double check the selling price like once a year but yeah its a loss as soon as you drive it off the lot

recently I was hearing that you should lease out a car if it was like 3% financing because really you could put that other cash in the stock market at 7% and net 4% in a perfect world, but yeah like if they are just going to charge me high rates and I have a fuckton of cash on hand Im just going to buy so I dont get jewed

>>50194780
I can take apart a transmission and do standard auto repair but its kind of not worth my time as a software developer, gets to be a hassle. Good idea tho

>> No.50194945

>>50194780
Police auction cars are ass. Lots of idleling on the engine and wild driving. Get an old folks-home car instead. They hardly ever drive anywhere and are selling the car because their husband/wife passed away as opposed to their being something wrong with the car.

>> No.50195007

I'm thinking about getting a new Subaru WRX. I need a car. Thoughts? OR should I get an R/T Challanger or Mustang GT?

>> No.50195151

>>50194440
Sounds like you bought used. Auto makers usually subsidize the financing on new cars that's how I got 1.9% earlier this year
>hurr new car bad
Enjoy paying the same amount for a 3 year old sloppy seconds car.

>> No.50195279

>>50194440
I paid 8% because even though I had a 730+ credit score I'm black. Altogether, between the scam loan and scam dealer, I ended up paying twice what I'd set out to. Fuck Capitalism.

>> No.50195329

>>50195279
that sucks, at least I gave this black guy a nice deal on my old Honda for his daughter since he was willing to pay in cash

>> No.50195332

>>50195007
Sounds like you arent buying a daily driver but something to have fun in. So whatever you like.

>> No.50195381

>>50195332
Well I don't drive daily, but the WRX and Mustang GT are decent dailies.

>> No.50195406
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50195406

>>50194440
Got my loan end of last year at sub 3% dragged out over like 7 or 8 years, I forgot what the max I was allowed to do

>> No.50195417

>>50194440
yeah credit score means jack shit
i tried to get a personal loan once and all the APR was 30%+
like wtf, my credit score is 800
fuck your gay system

>> No.50195452

>>50195417
EXACTLY like if I can walk off the lot with any car and pay in cash but you give me shit rates you are just losing money