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If you don't have a credit history, I would take out the loan and pay it back early just to build the credit. My take is if there's an institution you know you're going to be doing a lot of business with, get the loan through them. I have a good history of financing cars through my credit union, and that means they are a lot more flexible working with me than they would be with someone right off the street. This obviously won't work with the big banks unless you're a billionaire, but it does with the smaller ones.
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Feb 24, 2021 23:16
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KYOON GRIFFEY JR posted:dude if you are going to pay it off in a year who cares about the interest rate? on ten grand its gonna be like a hundred bucks. you are just wasting time and mental energy trying to figure out "what the dealer is doing" etc and spending days being stressed and annoyed about not having a car to drive
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Feb 24, 2021 23:48
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feelix posted:and spending days being stressed and annoyed about not having a car to drive Okay, as a general rule you need to understand that it's almost always going to be cheaper in the long run to rent a car/use uber or cabs, etc rather than rushing into any part of the car buying process. That definitely includes selection and financing.
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Feb 24, 2021 23:54
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Motronic posted:Okay, as a general rule you need to understand that it's almost always going to be cheaper in the long run to rent a car/use uber or cabs, etc rather than rushing into any part of the car buying process. That definitely includes selection and financing. Uber maybe but renting? IDK dude rental cars are expensive as poo poo right now (people are more likely to rent cars because of COVID), a few days of renting at 70/day could easily outprice the difference of a few percent on a 10k loan I'm going to pay off in 6 months. It's small change either way, I'm not really rushing the process and if the car doesn't feel right I will absolutely walk away and look for something else. I realize I'm definitely doing the thing where someone starts learning about a new subject and starts to obsess over every tiny detail when the correct way of thinking is that those details are too small to matter. feelix fucked around with this message at 00:06 on Feb 25, 2021 |
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Feb 24, 2021 23:59
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who pays 70 dollars a day for a car rental these days anyway if you pretend you are affiliated with Penn State University national will gladly rent you a car for like 33/day
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Feb 25, 2021 03:39
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More proof as to the nature of Penn State that corporations willingly leave money on the table to get PSU grads far away from them.
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Feb 25, 2021 03:42
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PCjr sidecar posted:More proof as to the nature of Penn State that corporations willingly leave money on the table to get PSU grads far away from them. Thank you, need to go tell my Penn State grad wife this. (it's all my fault, I won't blame you......I'll be back out in the barn to post again shortly I'm sure)
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Feb 25, 2021 04:04
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Proposed Budget: ~$30,000 New or Used: New Body Style: Truck How will you be using the car: Taking garbage to the dump, picking up wood and garden poo poo from Lowe's, etc. What aspects are most important to you: Reliability, MPG My mother's looking to buy a small truck for general truck stuff. Taking junk down to the dump, getting stuff from Lowe's, that kind of stuff. No towing or major hauling. No serious offroading, though she would like 4WD for driving on the beach. She insists on buying new. She's looking at stuff along the lines of the Ranger, Canyon, Colorado, Tacoma, Ram, etc. She's super picky about vehicles and she wants to test drive pretty much every light/midsize truck out there, so I'm more interested in what I should be steering her away from than recommendations as to what to get. Is there anything in that range that should be avoided?
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Feb 25, 2021 05:31
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If I were her I'd likely end up in a Tacoma. I'd just vastly prefer a Toyota over anything else in the segment especially if towing and poo poo doesn't matter. Sadly actual small trucks don't exist anymore and the Tacoma is about the closest thing there is. My dad's got one for all his home projects and he loves it. It's a truck. It always works. It's nice enough. And used Tacoma prices are absolutely stupid so in a certain light it actually makes a lot of sense to buy new.
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Feb 25, 2021 06:04
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KYOON GRIFFEY JR posted:who pays 70 dollars a day for a car rental these days anyway Not quite $70, but I just pulled up a random quote for a week on an Avis-through-USAA (required so that the car is adequately insured) and it was $56 a day for an economy car.
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Feb 25, 2021 07:29
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PCjr sidecar posted:More proof as to the nature of Penn State that corporations willingly leave money on the table to get PSU grads far away from them. Ooo, this is good. Now do one for my wife who graduated from Ohio State.
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Feb 25, 2021 13:14
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Khizan posted:Truck. I kept in the only parts that really matter here. Buy a Tacoma. Yes, it's probably a little out of price range / a stretch on budget, but they hold resale like crazy so leasing is quite a viable option if she doesn't drive much. Also, you may be tempted to buy the 4cyl to save money and fuel cost but it actually gets the same fuel economy as the V6 and is dogshit slow, so make sure you get the V6. That pushes a SR double cab 6' bed to $31K. Residency Evil posted:Ooo, this is good. Now do one for my wife who graduated from Ohio State. Gym Jordan vs JoePa, go KYOON GRIFFEY JR fucked around with this message at 14:25 on Feb 25, 2021 |
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Feb 25, 2021 14:09
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Residency Evil posted:Ooo, this is good. Now do one for my wife who graduated from Ohio State. It’s a Big 10 program, so same joke, only emphasize The Ohio State University. (Also Big 10: revelations about systematic abuse problems.)
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Feb 25, 2021 14:19
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Also condolences for having to be in Ohio for that long.
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Feb 25, 2021 15:21
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Man at this point once I get paid this month I can buy the car cash without dipping into my emergency fund but this research has got me thinking that I should borrow since clearly it will set me better to borrow in the future when it actually makes a difference But the whole thing is so hosed up, having to give a few hundred bucks to a piece of poo poo usury corporation over a few months so that in the future I can have the privilege of giving more money to a piece of poo poo usury corporation Capitalism sucks
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Feb 25, 2021 18:46
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feelix posted:Man at this point once I get paid this month I can buy the car cash without dipping into my emergency fund but this research has got me thinking that I should borrow since clearly it will set me better to borrow in the future when it actually makes a difference 4% interest is not considered usury these days. 25% would be. Interest as a concept is completely defensible as it is the cost of using someone else's money.
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Feb 25, 2021 18:49
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Deteriorata posted:4% interest is not considered usury these days. 25% would be. gently caress off bootlicker
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Feb 25, 2021 18:50
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feelix posted:gently caress off bootlicker Perhaps BFC is not the right forum for you.
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Feb 25, 2021 18:52
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feelix posted:gently caress off bootlicker You're going to have a fun life in capitalist America if you're raging against 4% interest rates
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Feb 25, 2021 18:53
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Someone start a car buying thread in D&D
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Feb 25, 2021 18:53
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feelix posted:Man at this point once I get paid this month I can buy the car cash without dipping into my emergency fund but this research has got me thinking that I should borrow since clearly it will set me better to borrow in the future when it actually makes a difference You've already been told this is not necessary. You can establish credit by responsibly using credit cards. It can cost you $0. Or even less if you have a rewards card that you use well.
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Feb 25, 2021 18:56
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I'm not actually mad, I'm just bemused by the absurdity of this particular part of living in America that I haven't engaged in yetMotronic posted:You've already been told this is not necessary. You can establish credit by responsibly using credit cards. It can cost you $0. Or even less if you have a rewards card that you use well. Do I need, like, a lot of credit cards for a really long time? I've had my own for 5 years (just used debit before then) and I'm a named spender on a card I don't actually use for almost 20. I didn't shop super hard, but that's apparently not enough to easily get a low-interest loan
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Feb 25, 2021 19:02
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feelix posted:I'm not actually mad, I'm just bemused by the absurdity of this particular part of living in America that I haven't engaged in yet Another card would likely help. But your loan issues may also be income related. Are you making less than, say, $40,000 a year?
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Feb 25, 2021 19:07
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Motronic posted:Another card would likely help. But your loan issues may also be income related. Are you making less than, say, $40,000 a year? No, I technically make six figures but I'm a contractor living in an expensive place so taxes and rent take a big chunk. I guess I wouldn't be surprised if being a contractor drops my viability as a borrower, but that seems unlikely considering nobody has asked me for the details of my contract. I know they look at rent too, but it's not like insane, my yearly rent is about a quarter of my actual take home income feelix fucked around with this message at 19:14 on Feb 25, 2021 |
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Feb 25, 2021 19:11
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feelix posted:No, I technically make six figures but I'm a contractor living in an expensive place so taxes and rent take a big chunk. I guess I wouldn't be surprised if being a contractor drops my viability as a borrower, but that seems unlikely considering nobody has asked me for the details of my contract For almost everything, you're doing just fine, and you shouldn't have any trouble taking out a car loan if you've got a few years history of paying your credit card on time. The only time a lender will get deep into your personal finances for things like "what's your income beyond just a number on a box, and how likely is it to continue" is when they're underwriting loans in the hundreds of thousands of dollars or more - so, mortgages, mostly. I assume you're not trying to buy a Ferrari.
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Feb 25, 2021 19:14
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Space Gopher posted:For almost everything, you're doing just fine, and you shouldn't have any trouble taking out a car loan if you've got a few years history of paying your credit card on time. That's why I'm shocked at being turned down by a CU and then being offered 6% by the dealer. I could obviously shop around way more but before I got into this I thought I was hot poo poo and lenders would be begging for a chance to give me a loan
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Feb 25, 2021 19:17
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feelix posted:No, I technically make six figures but I'm a contractor living in an expensive place so taxes and rent take a big chunk. I guess I wouldn't be surprised if being a contractor drops my viability as a borrower, but that seems unlikely considering nobody has asked me for the details of my contract. I know they look at rent too, but it's not like insane, my yearly rent is about a quarter of my actual take home income Income is income, so it shouldn't matter. So yeah, your file is thin. Another card would help. And time. There's no substitute for that one.
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Feb 25, 2021 19:18
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feelix posted:That's why I'm shocked at being turned down by a CU and then being offered 6% by the dealer. I could obviously shop around way more but before I got into this I thought I was hot poo poo and lenders would be begging for a chance to give me a loan That is completely unsurprising. It's why the buy here pay here lots exist, there is a substantial population that has a thin credit history or a derogatory one and conventional lenders will balk. You gotta play the game, there's no way around it. Or get a Nissan/Mitsubishi.
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Feb 25, 2021 20:03
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get out the door with the 6% dealer rate, and re-fi that sucker a month or two later with a bank/credit union/etc.
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Feb 25, 2021 21:26
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Well, getting a car for the first time, and I don't have much context beyond that I drove both an SUV and a BMW sedan while learning. Can I get some help with recommendations? Price Range ~$20,000 New or Used: Prefer Used, but open to New. Body Style: Full size Sedan/small SUV. Big enough that I won't get squished in a collision, but small enough that it's not lumbering or overly sluggish to control. How will you be using the car?: Mostly just for a 25-30 min commute without traffic. May turn out to be much longer depending on traffic? What aspects are most important to you?: Good MPG, reliable. I'm willing to spend some additional money if I get that back in lesser maintenance/repair costs. I just want something to get me from A to B and hopefully survive a crash if the worst happens.
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Feb 25, 2021 21:49
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Gonna do the normal: why do you need an SUV or full sized sedan for a commute? Also, crash safety doesn't work the way you think it does. Buy the nicest prius your $20k can get.
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Feb 25, 2021 21:52
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Motronic posted:Gonna do the normal: why do you need an SUV or full sized sedan for a commute? Also, crash safety doesn't work the way you think it does. Alright, noted. Yeah, I can go smaller as long as crash safety is still good.
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Feb 25, 2021 21:59
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Physics is a bitch but technology makes a big difference. Any car designed now is extraordinarily safe compared to any car designed before 2010, which is extraordinarily safe compared to any car designed before the year 2000. There are a few exceptions but NHTSA/IIHS is your friend. Just don't compare across years/test types.
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Feb 25, 2021 22:17
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KYOON GRIFFEY JR posted:Gym Jordan vs JoePa, go The most maddening thing about Penn State fans is just how strongly they defend rapists. KillHour posted:Also condolences for having to be in Ohio for that long. Thank you. It's never easy.
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Feb 25, 2021 23:37
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I've got a dumb request, I'm looking for a fun 2nd / roadtrip car. Most likely a manual, preferably something RWD and NA, but open to consider anything. I'm hoping to find something that's a good balance of fun, that feels a bit special every time and doesn't require going double the speed limit to actually feel engaging and rewarding to drive. Most modern cars I've tried so far feel pretty numb below ridiculous speeds, so primarily looking at stuff around 10-20 years old. I realise this is subjective as hell, but wanted to see what else might be worth considering, and if I'm completely wrong about some of my assumptions. To make it a little harder I live about 1000km from a major city and would have to travel to try to test drive most stuff. Located in Australia for market reference. Cars I'm actively looking at: 996 911 - Top of my list currently. Hoping the high revving NA flat 6, weird weight balance & relatively soft suspension would combine to make it fun at lower speeds. 987 Boxster / Cayman - Pretty much the same as above, trading some power for better balance? ND.2 MX-5 - I'm guessing this would be perfect except for the very limited boot space & no back seat. Early NA Evora - Super few of these available, and top end of my price range. Might be worth stretching my budget though? Maybe an Elise with touring pack but this is probably a really dumb option. E92 M3 - The idea of it doesn't really excite me but it might be a very good option? Stuff I'm assuming wouldn't work for various reasons: M2 - '16 & '17 models are at the top end of my budget, but I'm not sure if they would be too fast & numb to really be fun at normal speeds? TT RS - Similar to the M2, too fast & numb? BRZ / 86 - I've driven a couple of earlier models and didn't fall in love. i30N - Didn't feel very special, was pretty great otherwise. Proposed Budget: Up to roughly 60k AUD. New or Used: Used most likely. Body Style: 2+2 coupe preferably. 4 seats not a necessity, but preferable. Open to whatever though! How will you be using the car?: Weekend fun driver primarily, something that's not horrible for longer road trips and eventually being used a couple times a year for events like the Targa tour / Great tarmac rally tour. (Basically speed limited non competitive closed public road rallies.) Do you prefer a luxury vehicle with all the gizmos? Don't really care. What aspects are most important to you? The driving experience.
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Feb 26, 2021 01:49
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Mahatma-Squid posted:I've got a dumb request, I'm looking for a fun 2nd / roadtrip car. Most likely a manual, preferably something RWD and NA, but open to consider anything. I'm hoping to find something that's a good balance of fun, that feels a bit special every time and doesn't require going double the speed limit to actually feel engaging and rewarding to drive. Most modern cars I've tried so far feel pretty numb below ridiculous speeds, so primarily looking at stuff around 10-20 years old. I realise this is subjective as hell, but wanted to see what else might be worth considering, and if I'm completely wrong about some of my assumptions. I've driven the 996 (Turbo), E9x M3, M2, BRZ, ND Miata, and owned a 987 Spyder. Honestly, any of those (except for the Miata/Elise) sound like they'd be great for your use case. Any of them make for great/comfortable highway cruisers and are engaging to drive. The 987 actually has a ton of space, between the frunk/trunk. Even though the M2 doesn't have as direct steering as the others, it's still a hoot to drive and feels great. Maybe it's because I've owned a few Porsches now, but I keep on thinking about getting an E9x M3 while they're still available/not rusted. The interior is dated however, and there's always the threat of the rod bearings (although that's fixable).
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Feb 26, 2021 01:58
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Long road trips would be annoying with the M3 considering it has a 60l fuel tank and consumed 15l/100km just driving gently.
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Feb 26, 2021 02:04
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Keyser_Soze posted:get out the door with the 6% dealer rate, and re-fi that sucker a month or two later with a bank/credit union/etc. I was in a position to have to get a car under extremely short notice, got a CPO Honda Fit with my Dad co-signing from the dealer since I didn't have enough credit history. 4 months later I was able to re-fi at a credit union in my own name only, for a slightly better rate. Being diligent about getting your next set of tires on sale (as long as they're not a danger, lets be reasonable here) and you'd probably save more money on one tire than you'll have spent in interest in that time.
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Feb 26, 2021 02:55
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Yeah I think I'm gonna try to do that tomorrow. Assuming I like the car I just wanna get out the door at this point and I am absolutely gonna pay it off at 6months when the early repayment penalty ends, so it's literally less than 100 bucks difference between that and 4% which is what I was trying to get
feelix fucked around with this message at 03:16 on Feb 26, 2021 |
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Feb 26, 2021 03:10
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Residency Evil posted:I've driven the 996 (Turbo), E9x M3, M2, BRZ, ND Miata, and owned a 987 Spyder. Honestly, any of those (except for the Miata/Elise) sound like they'd be great for your use case. Any of them make for great/comfortable highway cruisers and are engaging to drive. The 987 actually has a ton of space, between the frunk/trunk. Even though the M2 doesn't have as direct steering as the others, it's still a hoot to drive and feels great. Maybe it's because I've owned a few Porsches now, but I keep on thinking about getting an E9x M3 while they're still available/not rusted. The interior is dated however, and there's always the threat of the rod bearings (although that's fixable). Thanks for all of that, I'll add the M2 to my list of stuff to try.
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Feb 26, 2021 03:32
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