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The problem with the 0-2% loans offered on the car notes is that generally, you end up paying MORE upfront for the vehicle. On several occasions, I have had friends refuse the 0% financing, asked for a lower price in lieu of the financing deal and get it.
I never had an issue with the 1.99% loans. I negotiate the deal at the dealer as if I was paying cash. Then head on over to my credit union, get the loan check and give it to the dealer.
I think the problem comes into play only if you plan on taking promotional financing from the dealer... which I guess only makes sense if you have bad credit.... in which case you probably wouldn't be buying a new car.
You have Classics. Aren't they worth a lot in Auctions?
Some have done nicely and others have been flat and even lost some value.
The rare, in demand, muscle cars and some of the great classics have experienced some phenomenal appreciation.
Your bread and butter Model T's and Model A's not so much... it is more of a social thing with very active car clubs and several events always on the calender.
Some of the guys have driven their Model A's around the world... others in the club had them shipped to the New England States and then drove them all the way back to California and another group did the Alcan highway...
The Corvette and the Bantam are probably the most expensive ones...
When I drive my restored Model A pickup I'm always asked what it's worth... people are surprised a new Honda is worth more...
The weather has been perfect so I started driving the 1930 Model A to work last week... some had never seen it even though I restored it back in the mid 80's...
The funny thing is 4 years of CA license fees totals more than the car cost new.
Haven't had any of the T's out for years... went non-op on most everything after the license fees increased.
Brown with a soft top? That's what I saw about a week ago on E 14th.... real nice.
I don't like car notes. I have owned my last 3 cars free and clear. I like it much better that way. People seriously abuse financing in this country, especially to buy expensive cars. If you can't buy an expensive car without a loan, then you can't afford the car, IMO.
I'm a smoker and I'm allergic to cars. I think they should be banned at the workplace, parking lots shuttered, and freeways closed for the health of the public.
I sorta agree. I'd love to ditch my car if we had good mass transit. Cars are just a big hassle and expense, IMO.
What's really sad is that it's not even uncommon. When I sold cars we had someone in probably once a week in a situation like that (in a town of less than 3000 people). What I never understood was why they thought rolling the loan this time was going to work out any better for them than it did the last time.
People are delusional, unfortunately....which is why our economy is in such a mess.
Well, it's not just people, it is the way business is set up...
Anyone remember picking up the phone and half the calls were offering to refi your home?
Some of the former neighbors, they are all gone now had bought homes and refied 5 times in 7 years... buy a home from 230k... keep taking money out for the new boat, Mercedes, BMW, private schools and then walk away owing over 700k and the home gets stripped by looters of the copper and appliances...
Bank later sells it for 410k...
Guess you could say I am allergic to borrowing... money, tools, cars, etc... My only exception has been real estate with at least 25% down.
I don't like car notes. I have owned my last 3 cars free and clear. I like it much better that way. People seriously abuse financing in this country, especially to buy expensive cars. If you can't buy an expensive car without a loan, then you can't afford the car, IMO.
I agree but people like to show off their cars to STRANGERS on the roads lol.
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