Current Events > Who the fuck would finance a vehicle for 96 months

(+) Yeah! (+)

Wtf is this shit
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Who the fuck would finance a vehicle for 96 months
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If the interest is negligible, then it doesn't really matter how long you take to pay.
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I have no idea, I intentionally sold two vehicles and took a chunk out of my savings just to make sure I only had to pay for 36 months because I don't like the thought of any longer than that.
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LockeMonster posted...

If the interest is negligible, then it doesn't really matter how long you take to pay.

^ That. If the interest was 0%, why not?

I'm not even sure what bank or company would offer a 96 month loan on a vehicle
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Bio1590 posted...

Wtf is this shit

The average American that lives paycheck to paycheck and needs a cheap car payment?

IdiotMachine posted...

LockeMonster posted...

If the interest is negligible, then it doesn't really matter how long you take to pay.

^ That. If the interest was 0%, why not?

This. That said, everyone will tell you what makes the most financial sense with cars and I'm of the belief that leasing makes the most sense. With a standard 36 month lease I'm 2/3rds of the way through my THIRD car compared to 96mo finance.

Depending on the car it can be the same amount of money or less to keep getting a brand new car every 3 years than the full price of owning one. And is certainly less than the sunk costs of maintaining it yourself if you own/finance.

Especially considering the financed car will be basically worthless after 8 years.

TheDarkCircle posted...

With a standard 36 month lease I'm 2/3rds of the way through my THIRD car.

So you're 2/3rds of the way through paying off your third car and still own absolutely nothing?
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eston posted...

I'm not even sure what bank or company would offer a 96 month loan on a vehicle

My parents were out vehicle shopping last weekend and like all of them offered it. The interest rates are insane though.

LockeMonster posted...

If the interest is negligible, then it doesn't really matter how long you take to pay.

96-month leases have like 5% interest. You aren't getting a break.
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Fishy posted...

TheDarkCircle posted...

With a standard 36 month lease I'm 2/3rds of the way through my THIRD car.

So you're 2/3rds of the way through paying off your third car and still own absolutely nothing?

an 8 year old car is worthless. And you're on the hook for any payments you need to maintain it from falling apart. you're not coming out ahead by financing.

TheDarkCircle posted...

an 8 year old car is worthless. And you're on the hook for any payments you need to maintain it from falling apart. you're not coming out ahead by financing.

My 13 year old car was worth $5500 and sans regular maintenance like oil the only thing I've had "fall apart" on me was my starter which cost $70.
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TheDarkCircle posted...

Fishy posted...

TheDarkCircle posted...

With a standard 36 month lease I'm 2/3rds of the way through my THIRD car.

So you're 2/3rds of the way through paying off your third car and still own absolutely nothing?

an 8 year old car is worthless. And you're on the hook for any payments you need to maintain it from falling apart. you're not coming out ahead by financing.

I recently sold my 9 year old car for $4800 and I never had any issues with it or anything.
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TheDarkCircle posted...

This. That said, everyone will tell you what makes the most financial sense with cars and I'm of the belief that leasing makes the most sense. With a standard 36 month lease I'm 2/3rds of the way through my THIRD car compared to 96mo finance.

Imagine thinking leasing a car is a good idea hahaha
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