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Thread: what are your picks for the best auto loan companies?

  1. #1

    what are your picks for the best auto loan companies?

    I'm planning on buying a new car and i want to find the best car loan rates, I will be taking the financing route since I don’t have enough cash to throw down to buy a car outright. When it comes to car loan, i must admit that I don't know it all, there are terms that goes over my head that I want to clarify to a credit specialist. So if any of you works as credit specialist or knows one, please let me know. By the way, what are your picks for the best auto loan companies?



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  3. #2
    Pay cash if you can. For financing, anything over 36 months is insane, you will always lose.
    “I don’t think that there will be any curtailing of Donald Trump as president,” he said. "He controls the media, he controls the sentiment [and] he controls everybody. He’s the one who will resort to executive orders more so than [President] Obama ever used them." - Ron Paul

  4. #3
    Quote Originally Posted by CPUd View Post
    Pay cash if you can. For financing, anything over 36 months is insane, you will always lose.
    Explain to me how we lost on a 5yr zero percent interest financing deal for DW's Subaru? With inflation, I figure we saved money the longer the loan was for.

  5. #4
    Quote Originally Posted by specsaregood View Post
    Explain to me how we lost on a 5yr zero percent interest financing deal for DW's Subaru? With inflation, I figure we saved money the longer the loan was for.
    How much is the car worth after the 5 years?
    “I don’t think that there will be any curtailing of Donald Trump as president,” he said. "He controls the media, he controls the sentiment [and] he controls everybody. He’s the one who will resort to executive orders more so than [President] Obama ever used them." - Ron Paul

  6. #5
    Quote Originally Posted by specsaregood View Post
    Explain to me how we lost on a 5yr zero percent interest financing deal for DW's Subaru? With inflation, I figure we saved money the longer the loan was for.
    Depreciation.

  7. #6
    Quote Originally Posted by follybind View Post
    I'm planning on buying a new car and i want to find the best car loan rates, I will be taking the financing route since I don’t have enough cash to throw down to buy a car outright. When it comes to car loan, i must admit that I don't know it all, there are terms that goes over my head that I want to clarify to a credit specialist. So if any of you works as credit specialist or knows one, please let me know. By the way, what are your picks for the best auto loan companies?
    If I had to borrow I would go to my local credit union .
    Do something Danke

  8. #7
    I usually drive something 10 or 15 years .
    Do something Danke

  9. #8
    Quote Originally Posted by angelatc View Post
    Depreciation.
    still, the amount we would have paid is the same. but by the 5th year we are paying with dollars that are worth less money. I don't see how depreciation has anything to do with it. the amount paid is the same in dollars.



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  11. #9
    Someone once told me to never take a loan on a depreciating asset. That being said, I did take out a loan on my Volvo XC60 for 0% to get the price down and then just paid it off within a few months.

  12. #10
    Quote Originally Posted by specsaregood View Post
    still, the amount we would have paid is the same. but by the 5th year we are paying with dollars that are worth less money. I don't see how depreciation has anything to do with it. the amount paid is the same in dollars.

    If you buy new that's true. But if you bought a model 1 year older and paid cash, you'd likely have saved more than you would have made off investing the money over the course of the loan.

  13. #11
    Chester Copperpot
    Member

    Quote Originally Posted by follybind View Post
    I'm planning on buying a new car and i want to find the best car loan rates, I will be taking the financing route since I don’t have enough cash to throw down to buy a car outright. When it comes to car loan, i must admit that I don't know it all, there are terms that goes over my head that I want to clarify to a credit specialist. So if any of you works as credit specialist or knows one, please let me know. By the way, what are your picks for the best auto loan companies?
    If youre in the military USAA is the way to go

  14. #12
    Chester Copperpot
    Member

    Quote Originally Posted by angelatc View Post
    If you buy new that's true. But if you bought a model 1 year older and paid cash, you'd likely have saved more than you would have made off investing the money over the course of the loan.
    yep im with you on that

  15. #13
    "He's talkin' to his gut like it's a person!!" -me
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  16. #14
    Shop around for a zero percent rate...paying interest on a car loan is almost as wasteful as carrying credit card debt.

  17. #15
    Get a horse.
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    which one of yall fuckers wrote the "ron paul" racist news letters
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    Zippy's posts are a great contribution.




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  18. #16
    @follybind

    Great article about this:

    Comfortably Afford – vs. “Afford”

    https://ericpetersautos.com/2017/06/...ord-vs-afford/

    By eric June 20, 2017



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  20. #17

  21. #18
    Uber till you can pay cash. $#@! a bunch of debt and depreciation. :P
    Quote Originally Posted by Torchbearer
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