OT: Anything Goes 39

[hawksrule]

Embarrassing to admit as a 31-year old but I didn’t realize how much you actually end up paying when financing a car. Wife and I bought a used car last week or so.

The car cost around $21.5k. With financing and only making the minimum payments we’re going to end up paying an extra $8.5K. WOW. Definitely know where our stimulus checks and tax returns are going this year...

At least you bought used. Unless one has money to burn or genuinely plans on keeping the car 10+ years, new cars are for suckers.

 

[RayP]

702. Not proud of it. I raised it up from 640 though when the pandemic started. I’m more shocked about how dumb it is to only make the minimum payments tbh.

Did you do like a 6 year loan or something? That still seems high.

 

[x Tame Impala]

At least you bought used. Unless one has money to burn or genuinely plans on keeping the car 10+ years, new cars are for suckers.

I’ll never buy a new car. Holy depreciation of value Batman!. Also will hopefully never buy a non-EV after this car either

 

[RayP]

At least you bought used. Unless one has money to burn or genuinely plans on keeping the car 10+ years, new cars are for suckers.

We tried to find a lightly used Subaru when we bought a new car a year ago and the only things out there had 50,000+ miles and/or a salvaged title. Ended up buying new. We keep care of our cars though so will keep it until it won’t run any longer.

 

[hawksrule]

We tried to find a lightly used Subaru when we bought a new car a year ago and the only things out there had 50,000+ miles and/or a salvaged title. Ended up buying new. We keep care of our cars though so will keep it until it won’t run any longer.

My car is from 2010. Bought it new, but I’m good about the maintenance, and I’ll also keep it until it’s scrap metal.

 

[Pez68]

Embarrassing to admit as a 31-year old but I didn’t realize how much you actually end up paying when financing a car. Wife and I bought a used car last week or so.

The car cost around $21.5k. With financing and only making the minimum payments we’re going to end up paying an extra $8.5K. WOW. Definitely know where our stimulus checks and tax returns are going this year...

Jesus. What kind of interest rate did they give you? Double digits? That seems absolutely absurd.

Word of advice from someone who has been through this a lot. ALL dealerships are f***ing thieves, who will try and cheat you into taking THEIR preferred financing options(READ: the ones they get kickbacks from), as opposed to the best rate you can get. I went in to buy my truck, used, with above excellent credit. I knew what rates I could get ahead of time, obviously. The first two options their finance asshole offered me, were almost TRIPLE the rate I was looking for. I was ready to punch the guy in the throat for being such a dishonest piece of shit. I ended up telling him he would finance me through the exact lender I specified, at the rate I told him, or I was walking out of his office and immediately filing a complaint with the BBB.

They all suck. Without exception.

 

[RayP]

Jesus. What kind of interest rate did they give you? Double digits? That seems absolutely absurd.

Word of advice from someone who has been through this a lot. ALL dealerships are f***ing thieves, who will try and cheat you into taking THEIR preferred financing options(READ: the ones they get kickbacks from), as opposed to the best rate you can get. I went in to buy my truck, used, with above excellent credit. I knew what rates I could get ahead of time, obviously. The first two options their finance asshole offered me, were almost TRIPLE the rate I was looking for. I was ready to punch the guy in the throat for being such a dishonest piece of shit. I ended up telling him he would finance me through the exact lender I specified, at the rate I told him, or I was walking out of his office and immediately filing a complaint with the BBB.

They all suck. Without exception.

Isn’t the BBB just Yelp for old people?

 

[Pez68]

Isn’t the BBB just Yelp for old people?

Pretty much. But dealerships don't like when you file complaints, or leave disgruntled. I would have scorched earthed them with how pissed off I was.

 

[x Tame Impala]

Did you do like a 6 year loan or something? That still seems high.

Yeah

 

[CourtneyDagger50]

I also went car shopping today.

It's between a Nissan Rogue and a Volvo CX40

Leaning Nissan. Drives super nice.
Seeing the Volvo tomorrow.

 

[Pez68]

Yeah

That's still insanely high. You probably got f***ed on the rate. Look into alternate lenders, and see if you can refinance it in a couple months. It will save you thousands of dollars.

 

[Pez68]

I also went car shopping today.

It's between a Nissan Rogue and a Volvo CX40

Leaning Nissan. Drives super nice.
Seeing the Volvo tomorrow.

You likely already know this, but make sure you go into the purchase knowing your credit score, knowing your debt to income ratio, and knowing what kind of rates you SHOULD qualify for. It will save you a lot of pain, and a lot of money.

 

[x Tame Impala]

That's still insanely high. You probably got f***ed on the rate. Look into alternate lenders, and see if you can refinance it in a couple months. It will save you thousands of dollars.

Interesting. Any lenders you’d recommend? We’re planning on throwing an extra $4k+ at it to knock out the financing and we’re still going to make at least 2 extra payments a year so it’ll be paid off before the 72 months is up anyway.

 

[CourtneyDagger50]

You likely already know this, but make sure you go into the purchase knowing your credit score, knowing your debt to income ratio, and knowing what kind of rates you SHOULD qualify for. It will save you a lot of pain, and a lot of money.

My dad was a car salesman for years. Thankfully I just let him handle all the bullshitting with the people trying to screw me over haha.

I do appreciate that advice though, because I really should know these things.

 

[Pez68]

Interesting. Any lenders you’d recommend? We’re planning on throwing an extra $4k+ at it to knock out the financing and we’re still going to make at least 2 extra payments a year so it’ll be paid off before the 72 months is up anyway.

Not really. I would start with your primary bank. Inquire with them. Let them know the situation. If you have access to a credit union, those are great. After that, the internet is your friend. The great thing is there will be no shortage of lenders who are willing to take your business.

 

[ChiHawks10]

Buying cars sucks. Car dealerships will try and f*** you over every chance they get. I don't know if there's a more corrupt, more universally horseshit group of people(most of them) than the finance people of car dealerships.

 

[ChiHawks10]

I also went car shopping today.

It's between a Nissan Rogue and a Volvo CX40

Leaning Nissan. Drives super nice.
Seeing the Volvo tomorrow.

Do some research on the Rogue. There were a ton of reported issues with them, which is why there are so many of them used all over the dealerships. We just steered my Mom away from one, and into a Hyundai Tucson.

 

[Illinihockey]

Buying cars sucks. Car dealerships will try and f*** you over every chance they get. I don't know if there's a more corrupt, more universally horseshit group of people(most of them) than the finance people of car dealerships.

Pretty much just say no to everything they try to sell you.

 

[OhCaptainMyCaptain]

Buying cars sucks. Car dealerships will try and f*** you over every chance they get. I don't know if there's a more corrupt, more universally horseshit group of people(most of them) than the finance people of car dealerships.

Insurance salespeople can be pretty high up there, though that varies a bit depending on what’s being sold.

 

[Ace Rothstein]

Buying cars sucks.

This x100. There is nothing I hate more than having to go to the dealership. We've been leasing and our current lease is up but we're buying the car. I'm jacked that I don't have to deal with a dealership again for a while.

 

[Pez68]

This x100. There is nothing I hate more than having to go to the dealership. We've been leasing and our current lease is up but we're buying the car. I'm jacked that I don't have to deal with a dealership again for a while.

Meh. I actually look forward to it now. I got screwed once many years ago, and learned a LOT from it. Go in with the necessary knowledge, and you really just emasculate the dumb f*** finance people, and make them look/feel like total assholes. By the end of my last trip to the dealership the finance guy was speechless. f*** those people. They are scam artists and prey on people that are unprepared or uninformed. Take that away from them and they are f***ing losers, through and through.

 

[Putt Pirate]

One thing I do/did was try and not buy a vehicle that rental companies have a lot of. They flood the markets with used cars and devalue the vehicle. Nissans are very popular with the rental car companies and I can say after having to rent them at times.....not a Nissan fan.

I did buy an Outback new 5 years ago and I just paid it off. It was .9% financing and I whined about that at the time knowing my rating, etc. It only has 40k on it so I am keeping it until either it dies or I do. I do love my car but they do not make the 6 cylinder anymore which I prefer when in the mountains over the turbo 4 with the turbo kicking in and out all the time....annoying. But the car overall is nice for me. I am not into expensive cars. Cars are just like a wrench to me....a tool to get places. And if you see the depreciation the first few years on the premium brands....I cannot afford nor do I want to just throw away that depreciation amount just to drive a nameplate of a higher end vehicle.

 

[ChiHawks10]

One thing I do/did was try and not buy a vehicle that rental companies have a lot of. They flood the markets with used cars and devalue the vehicle. Nissans are very popular with the rental car companies and I can say after having to rent them at times.....not a Nissan fan.

I did buy an Outback new 5 years ago and I just paid it off. It was .9% financing and I whined about that at the time knowing my rating, etc. It only has 40k on it so I am keeping it until either it dies or I do. I do love my car but they do not make the 6 cylinder anymore which I prefer when in the mountains over the turbo 4 with the turbo kicking in and out all the time....annoying. But the car overall is nice for me. I am not into expensive cars. Cars are just like a wrench to me....a tool to get places. And if you see the depreciation the first few years on the premium brands....I cannot afford nor do I want to just throw away that depreciation amount just to drive a nameplate of a higher end vehicle.

Subaru would be considered a higher-end vehicle by most, honestly. It's no Mercedes, BMW, or Audi, obviously, but not a cheaper vehicle, either. Don't think you can buy a single new one for under 30k.

 

[Kaners Bald Spot]

So anyway.......it's crazy how different 45 degrees F feels in March/April vs October/November.

 

[DisgruntledHawkFan]

So anyway.......it's crazy how different 45 degrees F feels in March/April vs October/November.

As somebody who works outside this is prime working weather. Love it. Taking my daughter to Lake Katherine after the Hawks game.