Current Events > Ever financed a vehicle?

(+) Yeah! (+)

My first car, the dealership set me up with some local credit union then I refinanced to a different one, then refinanced again to my bank (but paid it off within a year)

Second car, I got financing through the car manufacturer (Honda).

I usually lease through the manufacturer.

Don't ever go through third party unless it's a credit union. Either way, you're going to get fucked if you try to buy out the vehicle and you have to pay the higher price. Only your original dealership might be able to get you a good buy out price.

I havent owned one as Um legally blind and cant drive. I technically can with a bioptic, but its a whole process and didnt work in 2012. Im just now trying to get the ball rolling again.

Dealership gave me an extra 3 years on my ToyotaCare for financing through a local credit union.

Yes. My last car I financed through my bank. My current car, I'm financing through the bank that the dealer set me up with. I can probably lower my interest and monthly payments if I refinance. Just haven't done it yet

Nope. The only vehicle I've owned, I bought and paid completely upfront to the guy.

I financed a car about 10 years ago. I totaled it and insurance covered the loan.

Currently financing a truck.

Yep, Ive done it 3 times. The first two were with Toyota Motor Credit. The 3rd one was with a credit union. I just paid my current car loan off about 6 months ago.

Only once through a credit union.

Usually through my credit union, a couple of times through Mazda Financial because of additional discounts and better rates.

Never financing through a dealership again but yes, my first car was through them. Coming with my own financing if prices ever come down and I ever buy from one again.

Yeah, both my my last two cars were financed through a credit union working with the dealership.

No, always saved up and paid cash.

I do lease purchase through the dealership.

I've never seen the logic in buying up up front or taking out a car alone.

I never want to hold on to a car longer than three or so years. Even if I could theoretically make a profit, it makes no sense to lay out that kind of money when I won't even lay out half over the course of a lease.

Starks posted...

I've never seen the logic in buying up up front or taking out a car alone.

I never want to hold on to a car longer than three or so years. Even if I could theoretically make a profit, it makes no sense to lay out that kind of money when I won't even lay out half over the course of a lease.

Leasing, to me, would feel like just a long-term rental. Yeah, I know you can buy out the lease but it just... doesn't sit right with me mentally

(1) through a credit union. That went very surprisingly well.

(4) through a dealer (well lease).

I kinda got lucky that (1) lease got totaled, but we were in 2020 where values were starting to hike. I got enough to pay off the lease term and the DP for the next lease

Which I gave back prematurely for a minor (minor) profit. Long term gain is I didn't have to pay insurance or 91 fuel on that car. Changes in life didn't need that car anymore.

The current (2) leases I have....I might want to keep/buy both, but one's more reliant on my brother to pay off.

Near future I should be working out a possible loan transfer to me.

Starks posted...

I've never seen the logic in buying up up front or taking out a car alone.

I never want to hold on to a car longer than three or so years. Even if I could theoretically make a profit, it makes no sense to lay out that kind of money when I won't even lay out half over the course of a lease.

Buying a new car outright (with or without a loan) only makes economic sense for people who plan to hold onto it for a very long time (probably 10+ years, although I certainly haven't done the math). That's the only way to mitigate depreciation to an acceptable level.

KaZooo posted...

Long term gain is I didn't have to pay insurance or 91 fuel on that car. Changes in life didn't need that car anymore.

What car were you driving that you needed to put 91 grade fuel in the car?

a couple of times. I just finished paying off my 3rd car loan last month.

I did my 2019 Civic through Honda on a 3-year plan and $15K down. Paid it off last year and feels good getting the title in the mail.

I've bought two cars through Wells Fargo.

wackyteen posted...

What car were you driving that you needed to put 91 grade fuel in the car?

CX-5 Turbo

It supposedly could take 87, but I mean, I should've bought a base model instead/again if I wanted that slower experience. At that time, I was also in a better financial situation and gas wasn't that bad.

Starks posted...

I've never seen the logic in buying up up front or taking out a car alone.

I never want to hold on to a car longer than three or so years. Even if I could theoretically make a profit, it makes no sense to lay out that kind of money when I won't even lay out half over the course of a lease.

I think having the mindset that a car is an investment decision is inherently flawed outside of like an antique that you fixed up. The extent of the decision should be do I want to sacrifice money for more luxury or just get something reasonable and save a little. But its a bad investment in general.

Going to be done paying off my acura in january

ShineboxPhil posted...

Going to be done paying off my acura in january

https://gamefaqs.gamespot.com/a/user_image/1/9/9/AAA7ArAAEkSP.jpg

ShineboxPhil posted...

Going to be done paying off my acura in january

Which Acura do you have bro? I have a 13 TL SH-AWD myself.