Auto Loans

It's retarded to pay interest on an assist that already losing a lot of it's value

It's a dealer incentive on a new loan from a lender that is tied with the manufacturer. You will not see that on a used vehicle

I think you mean collision, comprehensive is on someone else hits you or a tree falls on your car. Besides, full coverage for me is like 80 bucks a month, The majority of which is the coverage for uninsured drivers.

Yes you can if you actually have good credit banks will offer 10-25k 0% loans

No, comprehensive is the additional part required by the creditor. In case a tree falls on the car or anything else that totals it.... before it's paid off.

Not on used cars, I have never seen this. Btw I have 800score

Not on a used vehicle.

There's literally no incentive for a bank to lose money on you getting a car

All depends on how much cash you have, your income, how much the vehicle costs, etc etc. Everyone has different priorities.

Most people will never have the money to buy a nice car if not for an auto loan.

Most people either don't make enough money, are too shit with their money to save, or are too impatient to save money long enough to purchase a nice car.

Well you could get a personal loan with that interest and apply it to a used car. I know for sure Chase does specially with your score.

I'm a 30 year old white guy with a $7,000 R6.

I don't own a car because a free work vehicle saves loads of money on gas, insurance, vehicle cost etc.

Unsecured debt will always have higher interest than a car note. There's inherently more risk, which is reflected in interest rate

Same here. I picked up a '15 Ford Edge on their 0% promo. We were looking to get one anyways, so that just locked in the timing. I see two benefits:
-in theory, money is worth less over time.
So since the payment doesn't change, you technically pay a little less than way.
-It allowed me to make money with my cash in the meantime. I'm not making a killing due to a few bad choices, but I'm still averaging at least 5% a year.

I just financed a gt350 because I needed to establish credit so I can buy a house. I could have bought it cash but decided to put 36k down and finance the other 30k. I double up on my payments every month and it will be paid off in less than 2 years.

doing grad school, got a decent paying job and it was cheaper for me to commute to a better school twice a week than it was to go to the shittier local one.

Was cheaper to buy the car in the long term than live on campus, plus I can easily make the payments and build credit (currently at 780, planning on paying it off by Nov. in preparation for buying a house this winter).

easy. if the return rate of your investments can beat the interest rate of a car loan then you take out the loan.

Yes. Most people are poor and stupid.

I was thinking about this car too. Too expensive in Canada tho.

I currently drive a high revving i4 shitbox and the thought of a 8k rpm V8 is making me go mad.

If you can swing it I would definitely get one, best car I've ever driven

>all this building credit talk
>im 20 and somehow have a credit score of 780 despite not doing anything other than getting a credit card when I was 18 and putting my insurance and cellphone payments on it
someone explain this

You'll still get shafted on your first secured loan, but not that badly

Credit score by itself doesn't mean that much by itself. If you are just building credit based on paying off credit card bills, the amount the lendor will give you will be less than if you had a previous loan that was of a sizeable quantity because you still aren't proven and will come with a higher interest rate. The exception is if your state provides benefits for first time home buyers that are under a certain income level. Which generally excludes condos that are FHA approved and income properties.

*that aren't FHA approved

Also I wish we actually had a board that discussed actual investment properties, loans, etc cause Veeky Forums is just all crypto schills.

>Also I wish we actually had a board that discussed actual investment properties, loans, etc cause Veeky Forums is just all crypto schills.
me too man, me too. what are you investing in? my port is currently about 50% TSLA, 30% VOOG growth etf, 10% in short term (~week-long) holdings, usually biopharms approaching fda approval for quick gains (currently holding HALO till monday and a few RAD for the merger), and the other 10% in a few various tech stocks I like (SQ, EA, and ACTI). TSLA is making me rich atm. all in robinhood.

>government subsidies and american tax dollars is making me rich atm.
ftfy

I took a loan for a car when I was like 22 and spent more than half on drugs and then bought the model down from the car I wanted with the rest

If I just got a loan years ago I would have a pretty cool modified car instead of having wasted money lowering every shit box I have ever owned.

I'm still learning. I just graduated last year and decided that I should do something with the money I'm taking home so I'm currently reading through the current edition of the Intelligent Investor and trying to set aside a couple hundreds dollars a month to start investing. The only thing I have set up is my ROTH IRA through my work which matches at 4%. Been pretty much trying to soak information in. I am a huge proponent of biopharms since I'm in the medical field and I actually missed out on a great invest opportunity because of insufficient monies. In retrospect, I wish I had taken out another loan while I was in school. My dad's friend started to export Lantus (insulin glargine) as soon as it came off patent a year or so back to China. China's medical supply for insulin essentially consists of intermediate and short acting insulin controls and they were able to contract most of the large hospitals since between my dad and him, they had a lot of classmates from med school. Unfortunately, my dad didn't have any money to really invest so he didn't profit off of him but that guy is a multi-millionaire after a year's work.

What would you recommend to read otherwise? An associate of mine was telling me about technical analysis and the easiest way to look at stock is to just measure the MACD.

I probably pay more in taxes than you make so don't complain.

Very highly doubt that.

>Veeky Forums poster
Yea, that's a hard no.

I'm relatively new to biopharm myself so probably can't give you much good advice. Like I said my investing in that sector is mainly relegated to short term stuff based on fda approvals. Buying the hype and selling the news, as it's called. Pretty easy money if you do the research and don't get greedy.

Aside from that I'd say just do your due diligence and get into heavily researching a few companies and getting to know them, their product, their market, and their business model very well. As opposed to spreading yourself too thin and investing in too many companies. Try to keep it under 4 or 5 in any one sector. More than that and you're better off just investing in an etf/index fund that deals with those types of companies.

I financed a new car because I was tired of buying used shit and it was fucking worth it.
Put a huge down payment so the APR wouldn't matter as much, after 2 years I paid the car off and I have bitchin credit.

Yeah that's generally what I'm being told.

"Buy the rumor, sell the news"

I've been taking notes so far and a lot of it has been focused on the short market which is stressful af. For research, essentially what I gathered is to really understand the market and read white papers. In terms of holding, I was told to sell at 40% profit and to take that 40% out and use to pay off existing loans.

I really wish I started sooner, then I wouldn't have paid off my students loans immediately.

Well I wish the best of luck to your future ventures.

Shorting is very stressful. Something like 1/4 of all TSLA transactions are shorts and every day I see all the money it's making me and I can't help but feel bad for them. That and buying on margin, you're playing with house money. Worst case if you're buying and then selling is you lose all the money you put in. But shorting, if you're wrong you're fucked. I wouldn't get into that until you've been investing normally for a while and really know what you're doing.

Anyway, good luck to you too brotha. And remember, don't get greedy. 7% gains in a year and you're beating most indexes. Anything over that and you're on top. I've seen people lose thousands holding too long cause they wanted 50% instead of 40.

I'm steadily approaching this mindset. Sick of getting in my shitbox every day and listening to new sounds and worrying about what's going to break next.

Just a little more pushing and I think shelling out the money would be worth the peace of mind.

in my very early 20's i took a $7500 loan out to buy one of my Toyotas, it was a low interest loan. i think i was 21 and didnt need a co-sign for it. i paid it off by the time i was 23 or 24, when i went to the bank at 24 they said i could get a mortgage for a home without co sign or anything my credit was so good

it was worth it to me, loan built my credit and was low interest

I'm sort of in a similar situation but I haven't bought a car yet. If I put like 80% down and finance the rest for one year am I losing out on some of the benefit? I don't want to pay more interest than I need to.

Took an auto loan because I was in a tough spot and needed a super reliable car. 9/10 decision.

Only problem is that year or so that you're upside-down, otherwise it was a good choice.

There was a time when Veeky Forums was halfway decent but all the knowledgable people left because they kept getting asked how to turn $100 into $10000 in less than 3 weeks with no risk guaranteed.

I used to be one of those autists that was vehemently against financing of any sort but if you're of average intelligence and have even a modicum of financial security, then it would be silly to not take advantage of particular financing offers. A good example I can give you is BMW has an in-house program where they underbid lenders at the last second with some absurdly low rates such as 0.9%. Depending on the length of the offer and factoring in inflation, it's basically free money.

What's in it for the bank? This does not happen in Europe.