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So why didn't she buy it instead of lease it and build up equity instead of just throwing the lease payments away, just like rent? She'll have nothing to show for all the money she spent when the lease ends. Bad choice.
Best just to go to car dealerships with loan already. I hate when dealerships talk in terms of payments instead of total amount its such a bullshit game.
What's the point of a camaro with anything less than V8, also do they still make them in manual?
Best defense against this is what you did, get your own CR. But even better than that is to actually apply for the loan in person at our local bank. They’ll approve you and tell you the rate. Then you take that letter to the dealership and present it when you find a car you want to buy. That gives them no wiggle room to lie to you and you get the best financing possible.
I know about this because I sold cars for a minute back in my early 20s.
I do have a 875 credit score.
Tenpoundbass saysI do have a 875 credit score.
How? I thought it only went to 850?
I'm sorry I meant 775.
I know about this because I sold cars for a minute back in my early 20s.
Even the total price before 'Market Adjust' is bull shit. I can't read it all but you can see the destination charge. That's a BS fee they put there to knock the price you pay up. Another common one is a fee for it sitting on their lot. Don't ever pay any of that shiite.
Whew.... I thought for a second Marcus was wearing off on you.. good thing.
I just checked, mine's 842. The knuckleheads at the bank never leave me alone when I come in.
LOL, I just checked mine. I'm at 841. Got me beat.
Zero debt and pay off my two cards each month.
Last time I was at the bank, I wanted a low limit credit card for a new business - but said they weren't allowed they couldn't run my credit. They gave me $25k without a blink. No credit pull either.
My bank was starting to really bug me when I went in to cash a check or get cash. A soon as I swiped my ATM card for identity, and they saw my balances come up, their eyes would get real wide and they would immediately say "Would you like to talk to one of our investment bankers"?
@tenpoundbass the tactic they tried on you is old and profitable for the dealership. Basically they shake your confidence in your credit history and get you to sign papers at a higher interest rate than the bank actually is offering you.
I think the intent was to show the $20000 "market adjustment" bullshit. Otherwise yeah, I would have loved to see the whole window sticker with detailed pricing and in high res so that I could read it.
Growth in the housing market is not relevant, it is the interest on the loan. The issue is whether the stock market investment is paying more than the interest costs. The housing market growth would be relevant in a rent-buy decision. Since you already own the home, the home will have the same "appreciation" regardless of any mortgage.
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And it's EASY to get these cars well over $40-45k without even trying.
I've been reading on the joys of sub prime auto lending lately, but am wondering when the music is going to stop - and people quit financing cars for 7+ years.
I pay cash for my whips.