hype cog

do you guys finance your cars or buy them cash?

Oct 11, 2012 @ 17:10
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.
Oct 11, 2012 @ 20:21
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.
Oct 13, 2012 @ 05:39
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.
Oct 19, 2012 @ 06:24
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.
Oct 20, 2012 @ 04:50
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
Oct 21, 2012 @ 00:26
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¢
Oct 21, 2012 @ 18:41
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.
Oct 25, 2012 @ 06:01
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."
Oct 26, 2012 @ 17:40
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.
Oct 27, 2012 @ 02:18
I don't finance, I buy a 4-5K car with cash if I can. I just feel really uncomfortable with debt.

Inactive User

Oct 27, 2012 @ 05:57
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.

Inactive User

Oct 27, 2012 @ 05:59
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.
Oct 27, 2012 @ 10:46
I don't finance, I buy a 4-5K car with cash if I can. I just feel really uncomfortable with debt.

Oct 28, 2012 @ 10:35
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

Oct 28, 2012 @ 21:38
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
Nov 02, 2012 @ 06:49
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
Nov 02, 2012 @ 22:38
If I can't pay cash, I can't afford it. End of story.
Nov 05, 2012 @ 16:53
If I can't pay cash, I can't afford it. End of story.

Couldn't have said it better.
Nov 06, 2012 @ 06:00
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).
Nov 08, 2012 @ 04:15
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
Nov 08, 2012 @ 19:16
cars??? rather buy hype and be the illest nigga on public transit
Dec 07, 2012 @ 08:58
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.. 
Dec 08, 2012 @ 04:08
Can't afford a car so I just use public transit haha. Got my ass grinding to get my college paid and finished.
Dec 09, 2012 @ 01:06
finance. leverage and debt is a great invention.
Dec 10, 2012 @ 14:28
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.
Dec 21, 2012 @ 04:46
I bought my first car with a car loan but since then cash only. 
Dec 21, 2012 @ 13:44
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.
Dec 21, 2012 @ 14:05
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
Dec 21, 2012 @ 17:51
i am financing my car (brand new) but that's because i need a car for work and my old one got totaled by an old dude on his cellphone not paying attention destroying my shit at a stoplight. i would prefer and suggest paying cash so the financing company doesn't own your ass for years on end 
Dec 26, 2012 @ 03:09
Cash for me. Im saving up for my next car right now and im not rolling in the tightest ride, but I'm broke like other people that have pay car notes.
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