do you guys finance your cars or buy them cash?

October 11, 2012 @ 05:10 PM
CrackPipeLips

Post: 2010

Join Date: May 2011

Thats the question. right now i drive a 96 integra GSR with LOW kms... its in pretty good condition.. but I wanna sell it and get something else. How you guys do it? just save your coin until you got enough or what? I've been trying to do this but the cars im looking at are in the ~10g's price range.
October 11, 2012 @ 07:19 PM
ⓜⓘⓝⓓⓔⓡⓐⓢⓔⓡ

Post: 3102

Join Date: Apr 2008

Location: Grand Rapids

depends on what you can afford, most people say that if you can pay for the vehicle in cash you're better off because of how it loses value.

Lil JoJo : i really want rizal! 13:10

October 11, 2012 @ 08:21 PM
CrackPipeLips

Post: 2010

Join Date: May 2011

im probably half way to my desired amount, but it'll be at least another 6 months before i can save up the rest. Im looking at buying a very well treated E36 M3 for 11G's, financing available from the dealer but I am unsure if I should do it or just save the rest and wait fo rsomething else.
October 13, 2012 @ 05:39 AM
Redline

Post: 711

Join Date: May 2007

Location: Canada

You have a pretty decent car right now, I would save up, unless they give you a really good rate (like less than 2%)
But it's all up to your current financial situation, and how much you can afford.

I bought my first sports car off a bank loan, and at the time I wasn't paying my own insurance, so I had to add 2 monthly payments to my income which really fucked me over eventually.
October 19, 2012 @ 06:24 AM
kbos

Post: 1881

Join Date: May 2008

Location: boston

I finance my truck through AAA, its a little under $150 a month. For me this makes sense, to own a diesel truck on my budget, I could only afford something that would need a lot of repairs, so id rather get a nicer, more reliable truck with lower miles and make payments. Diesel trucks don't lose value like cars though, the engine will last 500,000 plus and if you take good care of it you'll get your moneys worth.
October 20, 2012 @ 04:50 AM
rackem

Post: 63

Join Date: May 2012

I leased mine. My monthly payments are much cheaper than they would have been if I bought it, and I don't drive enough that I have to worry about going over a mileage limit. Also when the lease is up I can turn it in and get something new or if it's still running well I can flat out buy it for super cheap. If you're not gonna be doing a ton of driving, I think a lease is the way to go
October 21, 2012 @ 12:26 AM
DG7

Post: 193

Join Date: Mar 2012

I've never made payments on the cars I own/owned. I always make it a point to purchase it at full price and call it a day. However, after buying a brand new car 3 years ago, depreciation was up there and it wasn't worth it. If I can advise you against buying brand new, I'd suggest you get it slightly used WITH an extended warranty. Depreciation has already hit and you're paying a much nicer price for the desired car. Now if you're planning on keeping the car forever, buy it brand new. I don't plan on keeping a car for more than 3 years (if that) which is why I choose cars that I can sell with no issues. For example: MK2 Audi TT 6MT , & VW R32. Highly sought out vehicles with a hint of rarity that sold with no problems. Just my .02¢
October 21, 2012 @ 06:41 PM
THiZZ

Post: 2650

Join Date: Jun 2007

Location: Los Angeles

I always bought cars via private seller because well i just never cared to buy a new car or a pre-owned. However when the time did come that i wanted to buy a pre-owned from a dealer no one would approve me and i would have atleast had to come up with 40% of the value for a down payment just to get financed. So took out a car loan from a credit union that was worth only 10K and bought something from a dealer and built my car credit history which i wasn't even aware existed. Mind you my credit score is low 700's at the time when i went to finance for a car the first time. Now after having built my car credit history getting approved isn't a problem... Just be smart about your choices.
October 25, 2012 @ 06:01 AM
Fitch

Post: 551

Join Date: Jul 2010

Location: America\'s finest ci...

depends on what you can afford, most people say that if you can pay for the vehicle in cash you're better off because of how it loses value.

Pretty much. I was told "you don't finance a depreciating asset."
October 26, 2012 @ 05:40 PM
Espresso

Post: 201

Join Date: Feb 2006

Financing for a depreciable asset? Exactly. Why would you have to finance a depreciable asset? Unless you can profit from your existing car, or really need a ride, playing it safe and sticking to what you have makes the most sense.

If you're buying another used car at 10K, then chances are, you won't know the history behind that car. So why risk it?

I had to finance a new car because my existing one was too costly to fix. I've paid off my car a few years ago, and now working on the mortgage.
October 27, 2012 @ 02:18 AM
mooncrack

Post: 72

Join Date: Oct 2012

Location: SGV

I don't finance, I buy a 4-5K car with cash if I can. I just feel really uncomfortable with debt.
October 27, 2012 @ 05:57 AM
califoreigner

Post: 630

Join Date: Sep 2010

Depends on how your credit is looking and if you can get a cosigner if its shit. Apr on my current ride is 4.3% which isn't too bad. My last whip was like 8.9%. If you finance you should drop most of your income tax refund towards the principal. Wait.. This guy said km not sure how it works in your part of the world but yeah.
October 27, 2012 @ 05:59 AM
califoreigner

Post: 630

Join Date: Sep 2010

depends on what you can afford, most people say that if you can pay for the vehicle in cash you're better off because of how it loses value.

Get GAP insurance.
October 27, 2012 @ 10:46 AM
Clint

Post: 415

Join Date: Mar 2011

I don't finance, I buy a 4-5K car with cash if I can. I just feel really uncomfortable with debt.


this
October 28, 2012 @ 10:35 AM
Koven

Post: 3491

Join Date: Aug 2009

I financed a 30k BMW a couple years back. I put half down........never again. I was paying 200 biweekly and eventually just paid off the last 8k outright. I dont think id ever finance again......the novelty of a new car goes away after the 1st year and you're still paying the shit.

all I do is sip espressos and listen to AZ -mrelllis.tumblr.com

October 28, 2012 @ 09:38 PM
Redline

Post: 711

Join Date: May 2007

Location: Canada

Had a friend 100% finance a new bike. Within a couple weeks one of his neighbours drove into it and it was written off. Shitty part was that the witness couldn't identify between the neighbour and his housemates, so my friend ended up still paying the monthly interest (or maybe the whole payment, can't remember) on the bike

Unlikely situation for the most part but just something to think about
November 2, 2012 @ 06:49 AM
t0fu

Post: 29

Join Date: Oct 2009

with what you are looking to buy, i would finance if you HAVE to have this car. i think the thing you are missing is the cost of ownership. as someone that owned a german luxe car, i can tell you that you will quickly find out that maintenance is going to be your worst nightmare, unless you can handle that yourself. i'm sure you'd much rather have all that money in your account or somewhere gaining some interest, then to have something bad happen and have to scramble to sell your car, because you're outta discretionary funds. don't put all your eggs in one basket
November 2, 2012 @ 10:38 PM
weezyfuckdbaby

Post: 341

Join Date: Dec 2008

If I can't pay cash, I can't afford it. End of story.
November 5, 2012 @ 04:53 PM
varilight

Post: 11

Join Date: Oct 2012

If I can't pay cash, I can't afford it. End of story.

Couldn't have said it better.
November 6, 2012 @ 06:00 AM
Ilikesbs

Post: 56

Join Date: Oct 2009

Location: BAY AREA 707

My first car I bought with cash, but it was cheaper (integra).

About to buy a newer car this weekend and will finance it (G35).
November 8, 2012 @ 04:15 AM
t0fu

Post: 29

Join Date: Oct 2009

my brother has a g35 and loves it, except in the winter when it becomes a death machine. this year he learned his lesson and picked up a set of winter tires
November 8, 2012 @ 07:16 PM
LeWiS

Post: 172

Join Date: Apr 2012

Location: Studio City

cars??? rather buy hype and be the illest nigga on public transit
December 7, 2012 @ 08:58 AM
pointforward

Post: 255

Join Date: Sep 2012

Location: Sydney, Australia

definitely bought in cash. I don't want to be stuck with potential high interest repayments! If you can't afford out front, I think you shouldn't buy the car altogether.. 
December 8, 2012 @ 04:08 AM
dasik

Post: 77

Join Date: Jul 2012

Can't afford a car so I just use public transit haha. Got my ass grinding to get my college paid and finished.
December 9, 2012 @ 01:06 AM
keltron

Post: 53

Join Date: Jun 2011

finance. leverage and debt is a great invention.
December 9, 2012 @ 02:51 AM
coreyrude

Post: 25

Join Date: Jul 2012

Iv bought all my car's in cash it makes me appreciate what i have a lot more. There are people making half of what i make in a month but buying 50,000$ car's to look like they are ballin that stuff irk's me ill drive my civic until i can pay for a new 350z in cash. 

Owner of Rude Magazine www.Rude-mag.com

December 10, 2012 @ 02:28 PM
skivic35

Post: 962

Join Date: Jan 2007

Location: WVU/NJ

It is pretty much a rule of thumb you don't finance a car if it is over 4 years old. For starters, you have a hard time finding a counterparty willing to loan the money for something older than that. Secondly, interest rates on loans for used cars are quite higher than buying new.
December 21, 2012 @ 04:46 AM
mothon

Post: 51

Join Date: Dec 2006

Location: Oklahoma

I bought my first car with a car loan but since then cash only. 
December 21, 2012 @ 01:44 PM
tomo.

Post: 616

Join Date: Aug 2012

Location: London

If you can afford it buy with cash.

SMH at those that are so desperate for a motor that they stretch payments over a finance period.
December 21, 2012 @ 02:05 PM
nokia

Post: 121

Join Date: Apr 2012

Location: pittsburgh,

gotta ball til u get repo'd son when i was at school i had a dorm suprivisor this big lady real black lady she never took any shit and she copped the porsche(not the cheyanne either tony montana 911 too) she told me anyone can afford any car and its called car payments realest shit she ever wrote she probably still out there stuntin on toyotas til this day
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