Tagged Questions

Purchasing new or used cars, getting car loans, down payments for cars, refinancing car loans, and car insurance.

learn more… | top users | synonyms

1
vote
2answers
73 views

How much do I ACTUALLY pay when I am going to buy a car?

I am an absolute noob with cars. I have no passion or experience with them, but I acknowledge that they are a great asset for life improvement in general, and I am planning to buy one soon. However, ...
0
votes
1answer
38 views

Finance car with or with out a balloon payment

A person called "Bob" is considering buying a car and financing it over 5 years. He has the option to finance the car with a maximum balloon payment of 30%. When financed the load will have an ...
1
vote
1answer
55 views

How can I find out how much a dealer would really pay for my car?

I need to sell a car. I want to sell it to a dealer. I checked the estimated price on Kelly Blue Book, edmunds.com, and clearbook.com. According to those sources, it's worth somewhere around $23,000 ...
4
votes
3answers
151 views

For a car, would you pay cash, finance for 0.9% or lease for 0.9%?

Everybody knows "buy used car in cash" is the generally accepted, financially sound decision, but let's assume one wants a nice, fresh, brand-new car. Given: Car is $30,000. All-in (inclusive of ...
2
votes
3answers
98 views

If I plan to buyout my lease car at the end, do I still pay for excess mileage/wear?

Kinda stupid question, but there are so many "fine prints" when leasing a car. Let's say I plan to buyout my leased car at the end of the 36-month term. My allowed mileage is 20,000 Km/year (60,000 ...
3
votes
2answers
111 views

How do I sell a car that was purchased with a loan?

I bought a car earlier this year, and I have been making payments on it regularly for about 7 months. However, I want to sell the car to a private party and buy a cheaper car paying cash in full. The ...
-1
votes
1answer
80 views

What are the pros & cons of buying a car as a business vehicle

I am planning to purchase a vehicle in the coming months. I have a business of my own formed as a S-corp in Virginia. I will be using the vehicle to commute every day to and from work and for other ...
5
votes
3answers
198 views

How much off list price can I reasonably expect to get from a dealership on a used car?

Background: I'm looking at buying a used 2012 - 2013 Honda Civic from a dealership. This is my first ever car purchase, and with my lack of knowledge I am concerned that I will overpay in ...
3
votes
4answers
251 views

Lending money to a friend to buy a car

My friend is buying a car. She does not have money for the down payment. So I am going to lend her money. I have two options: I give her a cheque and then she pays to the dealer. I pay directly to ...
3
votes
1answer
204 views

How to find the right credit union?

I have 3 months left in grad school, currently with about $50,000 in student loans (most of it at 6% interest). I also need to finance or lease a used car. Suppose I select a car with a sticker price ...
1
vote
1answer
80 views

drive 100 miles per month for 3 years: the most affordable way

My wife and I live in Brooklyn, NY. I'm working and she isn't - we are waiting for a baby. We have a car-spot in our garage for free included in the rent (which is approx. 2k). What is the cheapest ...
0
votes
2answers
71 views

How to insure belongings on road trip?

I'm shipping my car with a reputable carrier across the country. I am going to put some of my belongings in the trunk. I have insurance on the car, but if I wanted to insure the items in the trunk ...
0
votes
3answers
192 views

Should I sell or keep the BMW car

I bought a RED 2009 BMW from an auto mall in 2011 Jan for $30,000 when it was around 32K mileage. It is now around 81K mileage and I still have a loan of $15,000 on it for 2.5 yr more. I see its ...
0
votes
1answer
76 views

Car taken out in a dealer

I purchased a car from a dealer. The car is for my use. I have my father as the first signatory. I have consigned for him. I am making the payment for this car. Can I remove my dad's name and have my ...
0
votes
0answers
23 views

Why does the Lessee pay Additional Registration Tax / Fee on Leased Vehicle as “For Hire?”

Vehicle Registration Renewal has (in Florida, USA - rates differ by state): (6) MOTOR VEHICLES FOR HIRE.— (a) Under nine passengers: $17 flat, of which $4.50 shall be deposited into the General ...
2
votes
1answer
116 views

Is the Chrysler extended warranty coverage worth it?

Is it suggestible to take Chrysler bumper to bumper lifetime insurance? I bought a Jeep Cherokee 2014 and initial warranty info looks like this. Warranty Basic - Miles:36,000 Basic - Months:36 ...
0
votes
1answer
83 views

I have a 2003 Dodge Caravan with 36,000 on it . Auto repairman says age of car means more repairs

I've recently bought another new battery, new tires, new brakes, replaced sway bar links and bushings. Auto repairman says the age of the car is starting to take it's toll, even though I only drive ...
0
votes
2answers
140 views

How does an insurance policies Six Month Premium work?

So, I'm wondering... How does an insurance policies Six Month Premium work? Say full coverage would cost me $200/month and liability would cost me $100/month, but I decided to get full coverage and ...
1
vote
2answers
101 views

Tax on insurance payment due to car deemed as total loss?

What is the the IRS's view on insurance payment for a car that was deemed a total loss? Is the state tax for each state in this scenario the same? Or, do different states have different approaches? ...
5
votes
2answers
266 views

Why does my insurance premium go up when I remove my wife?

I was messing around with my insurance policy to see if I could get my premium to go down a little bit, so I was just curious; How much is my wife making my premium go up? As it stood, my premium ...
1
vote
2answers
142 views

Comparing keeping old car vs. a new car lease

I'm considering replacing my current car with a new leased car. I'd like to compare the total cost of ownership of keeping my car for three years vs. leasing a new one. I'd also like a sensible ...
2
votes
1answer
181 views

How do I judge if I am being made a fair offer by a car insurance company?

My girlfriend got into an accident with her (registered under my name) 2003 Honda civic. She was pulling out of the drive way (taking a right, basically parallel to the road) and got hit on the ...
5
votes
1answer
64 views

Can an unmarried couple each claim half of the federal EV-tax credit?

We are an unmarried couple who bought a car together. We bought a plug-in hybrid (PHEV) and it qualifies for a $4000 federal tax credit. Can the EV tax credit be split between the two of us (filing ...
2
votes
1answer
120 views

Buying a car and learning to drive versus paying up study loans

My wife and I have two children. Soon we will have three. Neither of us know how to drive, and we do not have a car. With the prospect of having three small children, however, I think having a car ...
4
votes
1answer
349 views

Will be getting a car loan with my folks as the primary account holder. Can the car be titled to me?

I am currently saving, and waiting until I have about $10,000 to put down on a car, and then I will be make a fairly large purchase on a car (around $28,000 Subaru WRX). I am 23 years old now, but ...
3
votes
4answers
935 views

Are car buying services worth it?

I have to admit, all my car buying experiences have been traumatic. The car salesmen are a nightmare, the dealers are tricky, and prices are less than consistent. Because of this, through the years, I ...
-5
votes
1answer
1k views

If I take a loss when I sell my car, can I claim a capital loss deduction on my income tax return?

If I sell my car off at a loss, can I write that loss off against my income to save on tax? Does it matter if the car was used just for personal leisure use, or if I used the car to generate business ...
0
votes
2answers
96 views

How to get 0% financing for a car, with no credit score?

Is it possible to get a 0% interest rate for car loan for a used car in the U.S.? I've been working for 7 months and I just got my first credit card, so I don't have a credit score yet. I'm planning ...
4
votes
2answers
1k views

Does paying off a car loan increase or reduce a persons credit score?

I know that closing credit card accounts reduces the number of open credit lines, and paying off a car loan would also reduce the number of credit lines. I have had the car loan for over 3 years, it ...
3
votes
1answer
138 views

What percentage of my income/assets should I commit to vehicles?

The past few years have been rough financially (housing crisis and collapse in real estate prices). As a result I have been educating myself about personal finance (credit, debt, budgets, etc). I ...
5
votes
2answers
269 views

New or Used Car Advice for Recent College Grad

I am a recent college grad living in Los Angeles with a current salary of $35,000 at one job and an internship at the other. I used to drive a great 93 Honda Accord, but after 365,000 miles (my dad ...
3
votes
2answers
367 views

Bait-and-switch on new car lease

My mother is retired, and is currently considering leasing a new car to replace her current aging vehicle. A dealership near us has been offering a special on a lease for a particular vehicle for $99 ...
4
votes
5answers
1k views

Should I buy my first car with all of my savings?

Note: I live in Europe. Hopefully - In a few months time I will be (age) legal to drive, and after getting my license I'm thinking of getting a BMW E46 after years saving up cash from my full-time ...
1
vote
2answers
264 views

What is a formula for calculating equity accumulated while repaying car loan?

I'm going to buy a used car (maybe a Honda CR-Z), pay for it with a bank loan, then resell it in two years when I move. I'm trying to create a Google Docs spreadsheet to figure out how much more money ...
1
vote
2answers
400 views

Can I use 0% Intro APR for getting a car loan?

When I'm applying for a chase credit card it has 0% Intro APR for 15 months. This is my first time for applying a credit card. And I just started a few months ago started working so I have a proof of ...
2
votes
2answers
110 views

How do car market price companies get their data?

When i was in a car auction i talked with a guy next to me and he was writing down all the information of the auction. He told me he worked for a close by dealership and those numbers were used to ...
1
vote
1answer
374 views

Do I need to claim the sale of a used car on my taxes if I received the car as a gift?

I sold a used car that I received as a gift; do I need to claim that on my taxes in Canada?
2
votes
1answer
509 views

Should I finance a car to build credit for a mortgage next year?

I'm hoping to purchase my first home next year, but I'm having trouble deciding on the best way to raise my credit score. Here is a summary of my current situation: Credit Score Estimates (via ...
2
votes
0answers
94 views

Does the life/disability insurance policy on my car apply now that it's paid off?

My husband and I had purchased life/disability insurance on our new car in 2007. In 2008, my husband became ill and passed away at the end of that year. Recently, I found the policy and took it to the ...
9
votes
6answers
1k views

Why would a car company lend me money at a very low interest rate?

Why would a car company lend me money at 1-2% when they could lend it to the federal government at ~2.9% with zero risk?
1
vote
2answers
508 views

Can a non-California resident have CA licence plates & driver's licence without risking being deemed a resident for tax purposes?

I'm a California resident and I'm moving out of state to the East Coast for a new job which is a 2-year contract. I'll most likely end up in California again after the said two years. Do I have to ...
5
votes
2answers
332 views

What are the procedures or forms for a private loan with the sale of a vehicle?

I'm doing something that I don't normally do: Mix friendship with business. I'm purchasing a vehicle from a friend but can not pay the full amount. We've agreed to have me put a down-payment for the ...
4
votes
3answers
148 views

Is it more tax advantageous to add an owner to a car in the event of a death, over inheriting?

Trying due diligence with updating my will and all that. (What do you get when you mix byzantine loophole-laws with contemplating your own death? A barrel of fun, that's what.) Question one of one ...
9
votes
2answers
311 views

How to fill the IRS Offer In Compromise with an underwater asset?

I owe about $6k in back taxes, and simply don't have the money--it's hard for me to find even minimum wage jobs in the current economy, and I am burdened with consumer debt. After speaking with the ...
4
votes
2answers
610 views

Purchasing first car out of college

I will be graduating college soon and I will need a reliable car to get me back and forth from a firm I will be working at. Reliability is really important to me. I was looking at several CPO and ...
8
votes
3answers
248 views

Should I lease, buy new, or buy used?

I'm looking for an answer based on quality (they don't make 'em like they used to), price (are new cars even worth the $), and/or reliability/low maintenance (where leasing is attractive) which option ...
0
votes
2answers
288 views

What amount of money do car hire companies lock on your credit card account when hiring a car?

Couldn't find any definitive info. For different categories of vehicles and in various parts of the world? Edit: I'm looking for the answer in exact US dollars. Or euros. Or pounds. Or whatever ...
7
votes
3answers
714 views

When is the right time to buy a car and/or a house?

I am a 24 years old young IT professional. Since I don't have addictions to anything including drinking, I mostly save a lot (around 50% of my income after tax like $15-$25k a year). Currently I drive ...
3
votes
1answer
13k views

My Co-Signer is the Primary Account Holder for my Car Loan - Does this affect my credit?

I recently financed a car purchase, and my father co-signed for me. I received the first bill, to find out that he is listed as the primary account holder with the finance company, although I am the ...
7
votes
4answers
2k views

New car price was negotiated as a “cash deal”. Will the price change if I finance instead?

I am planning to buy a new car. I went to a dealership and when talking to a sales person I said I can pay cash. He knocked down the price quite a bit. Since the dealership did not have any low APR ...