/o/ - Auto » Thread #13722415

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Anonymous Sat 24 Oct 2015 21:46:19 No.13722415 View Reply Report Delete

Quoted By: >>13722581 >>13722586 >>13722692

Im moving to the suburbs, and I'm going to get my first car.

I want to put a 20-30,000 down payment up front.

How possible is this? I want to pay in cash, although I have no problem paying with a card.

Will they think I'm suspicious if I pay that much up front?

Anonymous

Anonymous Sat 24 Oct 2015 22:13:49 No.13722581 Report Delete

Quoted By: >>13722601 >>13722727

>>13722415
Paying in cash is almost always the right way to go for cars.
I question the wisdom of buying a brand new car, shit's a rapidly depreciating asset, check what can be had in your area on craigslist/ebay/other websites, you might find something that you like.
That being said cash in hand means that you're only getting raped by the dealerships, and not by the dealerships AND a 15-30% APR loan.

Anonymous

Anonymous Sat 24 Oct 2015 22:14:09 No.13722583 Report Delete

Quoted By: >>13722592

Anyone

TrailerTrashed !F9zSxwgbdU

TrailerTrashed !F9zSxwgbdU Sat 24 Oct 2015 22:14:51 No.13722586 Report Delete

Quoted By:

>>13722415
they wont let you pay phsyical cash over $10,000 but you can pay with a check

Anonymous

Anonymous Sat 24 Oct 2015 22:15:12 No.13722589 Report Delete

Quoted By: >>13722656

wow you have a lot of money

Anonymous

Anonymous Sat 24 Oct 2015 22:16:10 No.13722592 Report Delete

Quoted By: >>13722606 >>13722622

>>13722583
that's actually pretty ill advised. If you put such a massive down payment down, there will be a more paperwork (I'm assuming you're from America) as the IRS will stick their neck into what you're doing, and a lot of dealerships are actually less willing to negotiate the price if your down payment is super high. I would put down around 8-9k, unless you're getting something insane (120k+)

Anonymous

Anonymous Sat 24 Oct 2015 22:18:14 No.13722601 Report Delete

Quoted By: >>13722633

>>13722581
If you get a 0% rate why would you sink 30k of cash into something like a car? Just put a decent down payment and pay it off in a couple years.

Anonymous

Anonymous Sat 24 Oct 2015 22:19:17 No.13722605 Report Delete

Quoted By: >>13722627

>get 3 credit cards with reward points
>max em all out
>pay them off

Anonymous

Anonymous Sat 24 Oct 2015 22:19:17 No.13722606 Report Delete

Quoted By:

>>13722592
The car I want is 58,000

I don't really feel a need to negotiate a price, the full price is OK.

Anonymous

Anonymous Sat 24 Oct 2015 22:21:05 No.13722622 Report Delete

Quoted By: >>13722635 >>13722637

>>13722592
>IRS will stick their neck into what you're doing

How does somebody with a lot of cash but not a lot of proof of income buy a newer vehicle without this happening?
>not pharmaceuticals

Anonymous

Anonymous Sat 24 Oct 2015 22:21:47 No.13722627 Report Delete

Quoted By:

>>13722605
Most dealerships have a credit card limit. I wanted to pay my $10k down payment with my credit card for dem miles, but they had a $3k max on credit cards. Had to pay the rest with a check.

Anonymous

Anonymous Sat 24 Oct 2015 22:22:20 No.13722630 Report Delete

Quoted By: >>13722659 >>13722730

Car salesman here
>Anything over 10k is reported to the feds
>The dealership will get pissed because most profit is made on the back end aka financing.
>Because of depreciation you will be basically throwing around 3 to 5 grand out the window assuming you don't buy like a mercedes.

Go do what anons said and check craigslist or look for lower miles gently used cars. As in like a lease trade in

Anonymous

Anonymous Sat 24 Oct 2015 22:22:58 No.13722633 Report Delete

Quoted By: >>13722937

>>13722601
Your future money might be worth more than your current money, although it probably won't be.
I just don't like being in debt if I can avoid it, being shafted by student loans was enough.
If you want to do it go for it, but buying a new car doesn't really appeal to me.

TrailerTrashed !F9zSxwgbdU

TrailerTrashed !F9zSxwgbdU Sat 24 Oct 2015 22:23:15 No.13722635 Report Delete

Quoted By:

>>13722622
put 9k down, make huge payments until its paid off. the IRS only starts poking around in purchases over 10k

Anonymous

Anonymous Sat 24 Oct 2015 22:23:34 No.13722637 Report Delete

Quoted By: >>13722675 >>13722680

>>13722622
Tbh I have an alright job

I have been audited before and I came out clean

The IRS isn't a problem

Anonymous

Anonymous Sat 24 Oct 2015 22:27:50 No.13722656 Report Delete

Quoted By:

>>13722589
I work in computer security.

When I was younger I used to sling dope, but I quit after a few months, as I was a middle class white boy and not a gangbanger, made some few bucks like that

Anonymous

Anonymous Sat 24 Oct 2015 22:28:23 No.13722659 Report Delete

Quoted By: >>13722748

>>13722630 same guy
Also if you finance a car any amount payed over the standard monthly payment goes straight to the car.

As in if your payment is 500 and you payed 700. 200 dollars of that payment went 100% to the cars cost amd none to interest

Anonymous

Anonymous Sat 24 Oct 2015 22:31:32 No.13722675 Report Delete

Quoted By:

>>13722637
Then I really think you should be leasing because I'm sure you'll have the same job paying more in 3 years. You don't know what'll interest you then in cars

Anonymous

Anonymous Sat 24 Oct 2015 22:32:44 No.13722680 Report Delete

Quoted By: >>13722688 >>13722700

>>13722637
I should have $0 to my name.
I have enough to finance a decent car but I am afraid walking into the dealership looking like a 20 y.o fuckboi with no job but yet I can drop a $10k down payment trying to finance a $40k truck.

Anonymous

Anonymous Sat 24 Oct 2015 22:33:57 No.13722688 Report Delete

Quoted By: >>13722719

>>13722680
then don't drop 10, drop 8-9

Anonymous

Anonymous Sat 24 Oct 2015 22:34:53 No.13722692 Report Delete

Quoted By:

>>13722415
>Im moving to the suburbs, and I'm going to get my first car.
>I want to put a 20-30,000 down payment up front.

What the fuck are you buying? A Bugatti?

Anonymous

Anonymous Sat 24 Oct 2015 22:35:59 No.13722700 Report Delete

Quoted By: >>13722703 >>13722723

>>13722680

This guy isn't me

Like I said the car I want is 58,000 corvette

Also I'll just show up in a suit, gel my hair and speak in British accent

Anonymous

Anonymous Sat 24 Oct 2015 22:37:23 No.13722703 Report Delete

Quoted By: >>13722722

>>13722700
lol what are you some kind of 90s grifter? get a clue.

Anonymous

Anonymous Sat 24 Oct 2015 22:40:07 No.13722719 Report Delete

Quoted By: >>13722726

>>13722688
What are the chances of getting approved though without a %20 interest rate.

Anonymous

Anonymous Sat 24 Oct 2015 22:40:47 No.13722722 Report Delete

Quoted By:

>>13722703
Don't be mean to this guy. He's watched the grifter, he's lived through hell, let him tell you to get a clue and don't mess with him.

Anonymous

Anonymous Sat 24 Oct 2015 22:40:55 No.13722723 Report Delete

Quoted By: >>13722735

>>13722700
>asking /o/ for financial advice
You're asking for trouble, m8. That said;
Just put down enough cash for 0-2% interest rate, then finance the remaining. They should be able to run the numbers for you. Assuming your credit history is stable/lengthy enough, you're far better off financing than dropping 30k cash that you could utilize elsewhere.

Anonymous

Anonymous Sat 24 Oct 2015 22:41:57 No.13722726 Report Delete

Quoted By:

>>13722719
You can't get a consigner? I'm thinking that someone will approve you with that down payment with one for about 9, but it's anyone's guess if you'll get any kind of approval at all if you don't have proof of income

At Work !!m9nJXZaqXF3

At Work !!m9nJXZaqXF3 Sat 24 Oct 2015 22:42:04 No.13722727 Report Delete

Quoted By: >>13722756

>>13722581

Who the fuck pays 15%+ on a car loan?

Anonymous

Anonymous Sat 24 Oct 2015 22:42:38 No.13722730 Report Delete

Quoted By: >>13722843

>>13722630
Is 30,000 miles on a 2 years lease trade in considered good? Certified preowned

Anonymous

Anonymous Sat 24 Oct 2015 22:43:24 No.13722735 Report Delete

Quoted By:

>>13722723
This

A down payment is just a tool used to lower your interest rate. No need to over do it

At Work !!m9nJXZaqXF3

At Work !!m9nJXZaqXF3 Sat 24 Oct 2015 22:44:45 No.13722748 Report Delete

Quoted By: >>13722856

>>13722659

> Also if you finance a car any amount payed over the standard monthly payment goes straight to the car.

Not true. You need to find out if your finance company will apply it to the principle or not. I've seen a lot of people do this only to have the extra put towards their next payment/interest instead.

Anonymous

Anonymous Sat 24 Oct 2015 22:46:30 No.13722756 Report Delete

Quoted By:

>>13722727
niggers

Anonymous

Anonymous Sat 24 Oct 2015 22:56:47 No.13722843 Report Delete

Quoted By: >>13722872 >>13722873

>>13722730
Thats about average they had an extended 15k mile limit.
Also some certified pre owned vehicles have better warranties and perks than brand new cars. So i would definitely look into it

Anonymous

View Same Google ImgOps iqdb SauceNAO image_3.jpg, 48KiB, 500x378

Anonymous Sat 24 Oct 2015 22:58:48 No.13722856 Report Delete

Quoted By:

>>13722748
Point taken thanks for the correction hombre

Anonymous

Anonymous Sat 24 Oct 2015 23:00:30 No.13722872 Report Delete

Quoted By:

>>13722843
*could have better warranties and perks

Anonymous

Anonymous Sat 24 Oct 2015 23:00:40 No.13722873 Report Delete

Quoted By: >>13722901

>>13722843
Yeah. Its a 2013 mazda 3, so it gets 12month/12,000mile limited, and 7 year/100,000miles limited powertrain

Anonymous

Anonymous Sat 24 Oct 2015 23:03:38 No.13722901 Report Delete

Quoted By: >>13722941

>>13722873
Now side note I dont know how they work but our warranty started at the ORIGINAL point of sale.

As in if they baught the car in 2013 with a 15k limit on a 2 year lease and traded it in yesterday you have 5 years and 70k miles left on the warranty.

Anonymous

Anonymous Sat 24 Oct 2015 23:08:27 No.13722937 Report Delete

Quoted By:

>>13722633
This is always true, 40k you have now might be worth more in the future, paying for a car all up front isn't a good idea unless it's under 15k

Anonymous

View Same Google ImgOps iqdb SauceNAO Screenshot_2015-10-24-20-06-53-1.png, 419KiB, 1440x1848

Anonymous Sat 24 Oct 2015 23:08:37 No.13722941 Report Delete

Quoted By: >>13722993

>>13722901
It seems like its extended from whatever you buy it at

Anonymous

Anonymous Sat 24 Oct 2015 23:16:12 No.13722993 Report Delete

Quoted By: >>13723016

>>13722941
>7 year/100,000 mile warranty "from original in service date"

Anonymous

Anonymous Sat 24 Oct 2015 23:20:12 No.13723016 Report Delete

Quoted By: >>13723048

>>13722993
The other part. I only average about 4,000 miles a year so thats a good 5 years

Anonymous

Anonymous Sat 24 Oct 2015 23:25:54 No.13723048 Report Delete

Quoted By:

>>13723016
Yes the 12k warranty is good at the retail date. Also if you don't drive a lot at all have you considered leasing? If you drive under the limit you could end up with positive equity.

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