Why haven't you taken a 96 month loan out on a new car yet, user? The payments are so low, what a deal!

But you offset it by investing the rest. Not that you'd know, busriding cuck

If it stays reliable and low maintenance it's still not a horrible deal, Of course that thing won't. You're still getting your money's worth if you use it. It's like a lease buy your stuck with a old ass and worthless car at the end.

>0.9%
>buying new
>paying that much money for a car, ever
>trying to use mental gymnastics to justify leveraging a fucking daily compounding car loan for investments, when you could just buy a cheaper car outright, invest, and not take out a massive loan instead
I want stealership shills to go

$225/month for 96 months...for a golfcart.

You're still paying $22k for a car that starts under $15k before dealer incentives. 4.4% APR for 96 months is awful.

driving a new car brings me joy, comfort, and I avoid surprises, tow trucks and service bays. driving a used car made me depressed all the time. sorry, it's true

yeah, i honestly thought that shitbox would be 52 bucks a MONTH, not week, over 96 months

seeing my net worth explode from compounding investments feels a lot better than the difference between a 2014 shitbox and a 2018 shitbox, along with the comfort of knowing the bank sees fucking nothing

Well if your credit is bad enough to actually pay 4.4% then you're probably used to awful things. I don't know why you wouldn't just lease. Even at 4.4% at least you drive a new car every 4 years.

>4.39% interest

>buying a honda
>buying an asian car
lmao

what ETFs

im thinking of dipping into china and india, or should i stick to stuff like vanguard

idk man anytime i was in a tire shop or waiting for a AAA tow truck or shit breaking or brake job etc i wanted to kill myself. used cars just suck the life out of me. new is worth the piece of mind. of course they're expensive, but id rather be happy during the 20-24 hours a week im in a car

better than my student loans..

650 credit score
8.99% interest
$17k Jeep Patriot
And gonna be paying 30k for it after interest for 6 years.
$355 a month payments

I should’ve followed my gut.

>8.99% interest

No.

>650 credit
>high interest
that sounds about right

Gotta start somewhere.
Only started building my credit the last year and a half, after I discovered I had $400 in collections I knew nothing about.

As for my credit karma score, it’s 740. Too bad creditors do a hard credit check.

>Jeep Patriot
found the real mistake here.

Are you retarded or just not good at math?

at that interest you'd have been better off buying a brand new car. interest on new cars is stupid cheap even with mediocre credit

Fucking A.
Does what I need it to do in the mountains and trails in Washington.
Just gotta RICE it a bit.
Fully loaded. I’m happy.

$355 for 72 months, $5k downpayment. $30k. Can you math?

>eight year car loan on a base tier econobox that will be worth less than $5k by the time the loan is finished

no wonder so many people have negative equity on their cars

>i need a jeep to drive on hilly roads

Well if it works for you then thats good. I was in a similar situation a few years back. 650 cred score and needed a car. I got a 72 month loan at 8.99%. When I paid my car off I had a 800 cred score. Now I actually have a chance of getting a cheap home somewhere. Hated paying that much for the car but having a 800+ credit score feels good. Stick with it m8.

>tfw came out of college with 800 credit score despite no loans in my history and only a credit card that my parents had made in my name back in high school that I never used

feels good to be a privileged white male

Had a 2000 4x4 f150 back when i lived in the ozarks. Gotta have 4x4 for the mountains and bad weather.

Took a shit on me after I moved to Tacoma. Bought a 95 civic commuter. Worst decision ever. Journey would end when the pavement did. No space for anything.
Fucker got stolen within a week of me being out of town for work.

Yeah man. That was the plan. It was in my budget, and Got tired of beaters, and after I pay this shit off, My credit will be great by my mid 20s.

lucky you m8. i unfortunately got fukt in the recession.

>$17k car
>9% interest
>somehow = $30k

I got a new $35k car, put $5k down, and pay $540 a month for 60 months, at 1.9%.

I might add, I had no previous credit history and went through a credit union. Either way, why the fuck is your interest almost 100%.

I would prefer to spend the money on other things

Let my help explain math and my contract.
72 • 355 =25,560
25,560 + 5000 DP = $30,560

Good on your credit and interest rate.

Fucking Wells Fargo, in-house lender from the stealership.

Shoulda followed my gut, and walked out, and used my credit union.
I stopped banking with Wells Fargo years ago, because they charge you $5 a month just having an account with them, if not used within their expectations.

Nigga go refinance that shit, there's no way you should be paying $30k unless you got fucked over or went in upside down on your previous car.

Man, I’m new to all this shit and pretty damn ignorant.

How can I refinance when I already signed the contract of fixed payments and shit?

It doesn't matter who holds the lien. If I were you, I'd go into your credit union and ask for help, let them know you want to refinance with them, maybe they can sort your shit out.

when you refinance, the new lender basically pays off the remaining principal of the loan to the old lender and then you pay the new lender with a different rate.

Convincing everyone that owning something outright is actually a terrible financial burden to bear is probably the single most profitable piece of propaganda the bankers ever got the world to swallow whole.

> I need 4wd for bad weather and steep roads

They make $300 of of me financing a $30k car while I turn that $30k into $90k or more

But doesn't that imply that you actually have 30k in cash to pay for the car? I feel like most of the time when people finance cars they don't actually have the money upfront. Also this ignores the fact that investing is risky and you aren't guaranteed to turn a profit

You need to take risks to make money, but that $30k isn't the only money I have
Obviously there are plenty of more people who finance cars they can't afford, they also probably have shit rates to go with it as well

Because i like my car and theres no reason to get a new car that i wont like

> I can't afford a new car
> So all new cars are bad.
> I'm not p=poor or anything!
> I just d-d-d-don't l-like them
> N-new cars are shit, amirite guize?
> Guize?
> Why are you laughing at m-me?

>Buy old 90s shitbox
>Spend same on parts and maintenance in a year as you'd spend on a single main dealer service needed to keep your warranty on the new shitbox.
>All you have to do is clean it and it looks as good or better than a new car anyway

See
> NEW CARS ARE SHIT
> NOT THAT I C-CAN AFFORD ONE
> B-BUT I DON'T WANT ONE BECAUSE THEY'RE SHIT!

why would the interest on a newer be car be less not more?

>buy shitbox
>spend next to nothing on maintenance

ha, pretty much
>i'd never buy a new car!
>suddenly mature, stop being a NEET
>finish college (or skilled training)
>get decent job
>IMMEDIATELY buy new car
losers trying to rationalize and convince people they're not broke are so pathetic

>$20k
>8 years
>Terrible aftermarket and cost of parts
>European reliability
>Seats 2 women or 2 micro men
>Shitty FF layout
>Costs less than a third of what you payed for it after 8 years are over

Vs

>$5k
>No term
>Abundant aftermarket
>Cheap parts
>Japanese reliability
>Comfortably seats two tall men
>Fun FR layout with good handling
>Depreciation is basically non existent

See
Stop pretending to hate newer cars. It's not their fault you're poor; it's your fault.

>live within your means
>b-but you're just poor

how does interest work?

lets say this car is $10,000.

so at 4.39% interest you pay $10439 in total?

I think the interest compounds monthly or yearly depending on the terms of the loan

>wife wants new car
>ive always bought cheap used cars
>she really wants a mustang
>go to dealer
>sure enough she wants the top of the line 5.0 mustang GT
>before she signs anything i walk her out and tell her ill see what i can do.
>sell her previous infiniti G35
>use money and buy 2017 wrecked Mustang GT off copart for 1/3 the MSRP with only 400 miles on it.
>track down parts and repair the car till im about 20k into it
>keep it hidden untill her birthday and suprise her with a blue mustang 5.0 GT
i got it so cheap. It rocks being a fucking sheckel pinching jew

>how does interest work?
Let's say your car is $10k, and you take out a standard 3 year loan on it at 4.39%. Those three years' worth of interest are taken on the whole 10k, and added to the total you pay back.
$439/year interest. $1,317 total interest, $11,317 total finance amount.

And that's if you've got a good credit history and go to a reputable dealer. If not, you're looking at higher rates and longer terms.

So, the OP example with no listed price but the payments? £19,968 total amount, looking like most of what you're paying will be that interest rate.

>>use money and buy 2017 wrecked Mustang GT off copart for 1/3 the MSRP with only 400 miles on it.
>>track down parts and repair the car till im about 20k into it
So, how much was the brand new one in total?
How much did you spend in total?
How many hours did you spend tracking down parts, fitting parts, and cleaning brains off the upholstery?
You probably paid more.

Because the total amount would be higher than paying cash. And I don't need a new car.

>And I don't need a new car.
See

>getting tires makes you want to kill yourself

so do you just buy a new car when you wear out your tires?

I have a guy at work with such shit credit and in such a tough spot he bought a used hail damaged suv for $5k at 225

22%

No, why would i buy something when what i have is just fine? Im poor as fuck and im not trying to hide that at all. I genuinly like my car. im sorry its such a hard concept for you to comprehend that someone (gasp) might be doing something for themselves and not image!

Teach me.

>jeep patriot
>4x4
more like awd but Veeky Forums doesn't like to face that inconvenient truth.

Invest in Ripple ;^)

I put $250 at the December panic on BTC.
I got $150 now. I lost 40%..

>new cars never fail, require servicing or parts

Pathetic

Refinance on a decent rate or get rid if you can break even

don't listen to this fag the Accord is a proven commodity

>just now learning what compounding interest is
Welcome new friend, you are in for quite a ride lil bud

Is this normal in the US?

Be in Canada
>new car fully loaded for 30k taxes all in
>0% financing
>7 year term
>7 year warranty (extended from 5) included in the price
>bought the car in August right as the new models were being stocked at the dealership

So basically I got a nice car for 0% and no money down and I don't have to worry about anything going wrong. Oh and oil changes are free for life of the vehicle.

Why would anybody do anything above 1% and over 7 years? Are people retards?

Where is LPG when you need him

Tacoma is a shit hole with shit skins and meth heads no wonder your shi tbox got stolen faggot.

no I'm boglehead all the way, total US stock, total US bond, total international from a brokerage of your choice

dude taking a car from 40k to 150k vs 0 to 150k, you will not experience that shit in either, LIGHTLY USED not 1998 500k shitwagens

I can buy one cash but as I said, I have no need for it.

Not sure but EV is here to comfort you

Is a 96 month car loan a real thing? Where do the jews come up with this shit?
>96 month loan
>somebody who bought their car on February 2010 would just now be paying off

Probably made in Ohio or Alabama by Americans using mostly American parts

Did you buy a Kia?

It's for poor idiots who don't have any money to put down and see the ad and think "Yeah, I can swing $52!"

>Oh and oil changes are free for life of the vehicle
Kia's mandated oil changes are shit, they refuse to put in the oil you want and just steal it and put in their own crap

i'm not exactly flush with cash, but can easily afford £250pm for my car along with bills,
and any thing longer than 48 months is just fucking dumb, as by the end of it the car will only be fit for the scrapper,

HA, only if you didn't buy VW, even on their cheapest, parts are expensive.

Stop pretending you hate them. You're just poor and defensive.

And you're poor, defensive, and larping.

anything more than 2.5% is you getting reemed,

Credit crunch redux. Sub-prime loans to sub-prime people who have no job using credit.

it's going to pop soon, as over in europe, most new cars are sold on PCP, which the finance company still owns, and is being left with shit tons of 3 year old cars they auction off cheap due to the volume which they all make a loss on and is flooding the used market with cheap nearly new cars, and are agreeing to lending more and more to people who want a new car, so the amount of people buying used is going to be shrinking while stockpiling cars, which is costing the finance companies, and there's this endless loop sooner or later they are going to run out of money to lend, of course this is missing the people who default on payments which is going to exaggerate the issue.

yay the wonderful world of shitty finance and their love of making money on interest.

If you have the balls to invest then do it properly and take a loan, but you won't pussy ass bitch.

I already have 30 years of house payments but damn thats tempting!

I took advantage of the system. Picked up a 3 year old car fairly cheap, paid it off, and now I've got a few years of no trouble and no payments ahead of me.