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New cars are expensive. My state charges 7% for sales tax. You buy a 30,000 car you need to write a $2,100 check to the state. My point here is too think about that when you think about a new car. Personally, it makes me think about not buying a new car.
It costs a lot more to insure a new car. Not only that what if you ball up the car six months after purchase? Your insurance company will give you a nice check for the value of the car. Minus the thousands in depreciation. Too bad you still owe a lot more than what the check is written for.
The OP should run the insurance costs for a new Jeep and a used one.
I'm quite sure someone considering a vehicle purchase is aware of sales tax and insurance requirements and the tax situation will be addresses in the sale contract. The OP has already stated how much money they have available for a down payment and monthly expenses, do you really think they need to be reminded of these things?
I need a little bit of advice on purchasing my first car. This might sound a little crazy, but I am looking to purchase a 2014 jeep Cherokee. My credit is around a 720, but i have only had my credit card for a year and a half. I make enough money to afford to make payments up to $300 a month. I plan on putting about 6,200 down for the car.
I just wanna know if i can purchase this car without getting a loan through my bank or going through a credit union. I don't want to waste my time by going to a dealership and not leaving with a car.
thanks!!!!
I really do love that car! I wouldn't put any money down though, just get gap insurance for an extra couple of bucks a month. Save that $6200.
I'm quite sure someone considering a vehicle purchase is aware of sales tax and insurance requirements and the tax situation will be addresses in the sale contract. The OP has already stated how much money they have available for a down payment and monthly expenses, do you really think they need to be reminded of these things?
Well,I guess you get what you pay for with internet advice.
HI. Cars are not an investment! The worst thing you could do to yourself is get in a binding contract that will leave you with nothing if you default on payments. They'll repossess the car and keep your money and your credit rating will plummet.
Do some serious research on a reliable used car that you can pay cash. If you can find a nice deal on something certified, and it's more than your cash outlay, either negotiate it into the deal, or wait and save up more. Having security of repairs and no car payment will make you sleep better at night.
Good luck.
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