NT why did you get a car note in General Forum

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NT why did you get a car note

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oidreez	NT why did you get a car note		Lead	[-]
Registered Member Posts: 12560 12/29/11 3:56 PM	Tags : None I bought my first used car in college (a 2000 sonata) and now i need a newer one. Now how to pay for it is the question. Save up cash or get a note? I know a lot of you guys have car notes. What made you get one? Tmobile Mytouch 4G Owner Chicago x Nigeria http://gplus.to/oidreez
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StillIn729		#1	[url]	[-]
Registered Member Posts: 3969 12/29/11 3:58 PM	Interest rates are low as hell if you have good credit my rate is a 3%; I wouldn't front all that cash into a car because if you can't get it back it was a waste of money Hard Knocks Open Tough Locks Areyouin729 2003-2009
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Eff Ecks		#2	[url]	[-]
Registered Member Posts: 3519 12/29/11 4:02 PM	I've been playin around with this one as well. More than likely im gonna just keep saving. I don't like having debt looming over my head. Plus you have to get full coverage insurance, assuming that you don't. Having that new-new would be fly.....gotta make the smart move tho twitter ---------> @KudzuNinja
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Sco cuddie1		#3	[url]	[-]
Registered Member Posts: 1087 12/29/11 4:15 PM	StillIn729 wrote: Interest rates are low as hell if you have good credit my rate is a 3%; I wouldn't front all that cash into a car because if you can't get it back it was a waste of money Same reason I got my car note. BMW Finance gave me 3.5% interest and a smoking deal for an M3.
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RunningFishy		#4	[url]	[-]
Registered Member Posts: 2897 12/29/11 4:18 PM	Why take out a loan to buy something that depreciates? It's a numbers game, and you're going to need to do the math and focus on LIQUIDITY and CASH FLOW. If the math fits, and your purchase is within budget, then go for it. What I do not endorse is for people spending $35-$50K on a car, especially if it needs to be financed. Rates are low, but do the math and the over-time accrual of it is quite large! I didn't take out a note for my Honda. My folks did because we needed a car, and when I found my first real job, I took over the payments. I finally paid it off. Now, I focus on maintaing it. I do most of the work myself, but never forget the fact that I'll need to have repairs here and there. Owning a car can be costly! In terms of financing, check w/ dealers and credit unions. Do your homework. "I don’t shake substitutions' hands” -Ron Artest
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KayCurrency		#5	[url]	[-]
Registered Member Posts: 8123 12/29/11 4:18 PM	Sco cuddie1 wrote: StillIn729 wrote: Interest rates are low as hell if you have good credit my rate is a 3%; I wouldn't front all that cash into a car because if you can't get it back it was a waste of money Same reason I got my car note. BMW Finance gave me 3.5% interest and a smoking deal for an M3. This. BMW gave me a 3% rate Lexus gave me a 1.9% rate and threw in an extended warranty Your credit has to be good as hell though to get low rates German Engineered for Excellence There are Automobiles///Then there are BMWs ...The pursuit of perfection
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oidreez		#6	[url]	[-]
Registered Member Posts: 12561 12/29/11 4:34 PM	I'm not looking into buying a new bmw/lexus / $35,000 car though. Would it be better to just buy another cheap $3,000 car and save or get something like a used 03/04 G35 and get a car note? Tmobile Mytouch 4G Owner Chicago x Nigeria http://gplus.to/oidreez
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ksteezy		#7	[url]	[-]
Registered Member Posts: 5947 12/29/11 4:37 PM	Speaking from experience I've financed 4 brand new cars and IM DONE...makes zero sense, next car is a 2 year lease. *It's Jcrew, Bro.* *Im busy getting rich I don't want trouble* *You Live + You Dress Style Blog* *Its Jcrew, bro.*
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StillIn729		#8	[url]	[-]
Registered Member Posts: 3970 12/29/11 4:53 PM	ksteezy wrote: Speaking from experience I've financed 4 brand new cars and IM DONE...makes zero sense, next car is a 2 year lease. it makes zero sense if you keep buying new cars every two years; you can find a car that holds good value for a good deal and it can make sense my 370Z is worth almost what I paid for it 2+ years later Hard Knocks Open Tough Locks Areyouin729 2003-2009
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jhobson5		#9	[url]	[-]
Registered Member Posts: 2158 12/29/11 5:01 PM	I financed my first car this year. Was going to pay cash for it, but I realized that a note looks good on your credit. So I put aside the money I was going to pay for it, and pay monthly payments on it. I will pay it off in 2 years of so. But it makes the credit score look good. TEAM COLORADO Home of the Summer Time 20 Degree Camp Out
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KanyeWestJayZ4life		#10	[url]	[-]
Registered Member Posts: 5967 12/29/11 5:08 PM	Warranty, latest tech, image, engine power< my cars paid off now, but those were some reasons i did it. I think car notes are stupid unless you have no choice. If Heaven was a mile away And you could ride by the gates Would you try to run inside when it opens would you try to die today? Would you pray louder finally believing His power? - Nas
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RunningFishy		#11	[url]	[-]
Registered Member Posts: 2898 12/29/11 5:40 PM	Suspended. Last Edited By: Method Man 12/31/11 3:49 AM. Edited 1 time.
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jdi23		#12	[url]	[-]
Registered Member Posts: 2944 12/29/11 5:42 PM	One of the dumbest mistakes I've made wish I wouldve just saved my money and copped something to get me around. TEAMYANKEES @MarloMari Fadeaway game tight *** University of North Carolina Mens Basketball***
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Mangudai954		#13	[url]	[-]
Registered Member Posts: 41957 12/29/11 5:44 PM	Is a car note you can easily pay off a good way to build credit? Slow drag em' yea this is how you go platinum
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Dirtylicious		#14	[url]	[-]
Posts: 48451 12/29/11 5:48 PM Administrator	I was young and dumb.. never will buy a brand new car again until I have at least 1M in readily liquid assets T E A MJETSN E R D
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MrBrown		#15	[url]	[-]
Registered Member Posts: 1740 12/29/11 5:48 PM	I haven't bought a brand new car but when I bought my car I paid cash. Everyone I told about me purchasing cash gave me the same ol "Shoulda put that as a down payment for a brand new car!!!!" except some don't understand apy's and all that. I have no stress tho even though I could have financed it the cost over the long run is considered. Can't take it back now so I would suggest you save up some cash then purchase something within your range financially. If your credit needs the help then finance I guess..... but I theres other ways to go about building credit. I have great credit without ever financing a car. Last Edited By: MrBrown 12/29/11 5:50 PM. Edited 1 time.
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jthagreat		#16	[url]	[-]
Registered Member Posts: 12672 12/29/11 5:50 PM	Mangudai954 wrote: Is a car note you can easily pay off a good way to build credit? good question. +waits on CRC+ i know its best to buy out right and all(for the most part) but if i put a LOT down, say 70% of the price, and have VERY manageable monthly payments for a 12 months, would that be good? I run wit the ROC and roll with the COWBOYS
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RunningFishy		#17	[url]	[-]
Registered Member Posts: 2900 12/29/11 5:52 PM	Mangudai954 wrote: Is a car note you can easily pay off a good way to build credit? Yes. However, you need 'history' to build credit. However, in light of things, you need to be in great financial health. When you are, you have a lot going for you. You'll have liquidity, cash flow, low rates, and flexible financing. Those w/ bad credit are punished in many ways, they're dealt with denied loans, high rates, etc. It pays to have a good credit history. "I don’t shake substitutions' hands” -Ron Artest
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SoVerSoTowel		#18	[url]	[-]
Registered Member Posts: 2945 12/29/11 5:53 PM	in my opinion getting a car note is a bad idea. because its not worth much by the time you pay it off. to me it makes more sense to save up and get a used one Troll Lyfe,..............Troll Lyfe,Troll Lyfe.............Fo0L.
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prestigeworldwidex21		#19	[url]	[-]
Registered Member Posts: 178 12/29/11 5:55 PM	Because I have mad money with a steady income. STAY FRESH.
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K Town Trash		#20	[url]	[-]
Registered Member Posts: 1418 12/29/11 5:56 PM	jthagreat wrote: Mangudai954 wrote: Is a car note you can easily pay off a good way to build credit? good question. +waits on CRC+ i know its best to buy out right and all(for the most part) but if i put a LOT down, say 70% of the price, and have VERY manageable monthly payments for a 12 months, would that be good? This is what I'm planning to do. I'm gonna put down my car ('11 accord) as a downpayment for a used 2011 535 or 528i within next couple of months. it's about 50 to 55% of the price I'm putting down so it should be around 200 bucks a month. Very easy way to build credit is def a car. MIAMI HEAT
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