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

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3
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1answer
61 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
3answers
124 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
195 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
75 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
65 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
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3answers
145 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
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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
100 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
82 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
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2answers
95 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 ...
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vote
2answers
94 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? ...
4
votes
2answers
200 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
122 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
0answers
113 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 quarter ...
5
votes
1answer
61 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
114 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
256 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
599 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
91 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
133 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
245 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
333 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
937 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
242 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 ...
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vote
2answers
370 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
95 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
338 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
461 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
93 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 ...
7
votes
5answers
877 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
465 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 ...
4
votes
2answers
223 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
138 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
290 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
576 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
239 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
278 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
552 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
12k 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 ...
2
votes
1answer
228 views

“Surety Bond” as a cheaper alternative to auto insurance in Florida

There is very little information about "surety bonds". Officially, it looks like FL is one of the states that accepts surety bonds as an alternative to liability insurance. What are pros and cons vs ...
7
votes
4answers
9k views

Is it even possible to refinance an older car?

I'm looking to refinance my car loan. However, it's 2012 and my car is a 2004. Bank after bank is refusing to even let me apply if my car is over 7 years old. Is it even possible or am I stuck with ...
3
votes
2answers
231 views

Going carless: how long before insurance no-claims benefits and good history become invalid should wish to become a car owner in future?

Going carless: how long before car insurance no-claims benefits and good history become invalid should wish to become a car owner in future? Update: Based in UK, would keep license. Reason for going ...
1
vote
2answers
588 views

PCP or Bank Loan for Car Purchase?

I'm trying to figure out the best way to pay for a car we're about to purchase. I had a figure in mind of between £6-7k when looking at cars, so I also knew I wanted to pay around £200-£240 per month ...
4
votes
2answers
95 views

Financing a vehicle a few months before I expect to apply for a mortgage?

My wife and I are planning to buy our first home together sometime around June/July time this year so we're mainly in 'piling up cash' mode and are trying to avoid any unnecessary expenses and ...
1
vote
1answer
6k views

How long to wait before refinancing a high interest car loan, after improving credit history?

I had no choice but to finance a car loan at a pretty disgusting rate (14%) thanks to "insufficient credit history" back in the end of September. My credit score was good. Now it's January; I've been ...
22
votes
2answers
3k views

I'm giving my car to my sister. Should I gift it or sell it?

I have a car registered in Connecticut. I want to give the car to my sister in Oregon. The blue book value of the car is approximately $5000. (It will be a very generous gift - but the car was a gift ...