Purchasing new or used cars, getting car loans, down payments for cars, refinancing car loans, and car insurance.
5
votes
1answer
51 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
79 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 ...
0
votes
2answers
95 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
243 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
2k 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
2answers
659 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 ...
1
vote
2answers
203 views
2
votes
1answer
106 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
2k 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 ...
2
votes
2answers
160 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
226 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
1answer
57 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
2k 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 ...
17
votes
2answers
1k 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 ...
10
votes
4answers
412 views
Should I finance a used car or pay cash?
In my case, it's a 2010 Toyota minivan costing $29,000. It should hold its value fairly well, and I plan to keep it for as long as possible (maybe 10 years.) I qualify for a loan at 2.95% and plan ...
2
votes
3answers
255 views
When to trade in a relatively new car for maximum value
I am considering purchasing a new car in the next year to replace my current car.
I currently own a 2010 model year vehicle which I estimate to be paid off early spring 2012.
My question is, in ...
4
votes
6answers
1k views
How long should I expect to keep a car if it is used or new?
I plan on buying a car. I am not sure if it is going to be used or new. I am little scared of used because I always have the feeling that although they are cheaper, thing will eventually go wrong ...
3
votes
1answer
211 views
Can I borrow against my IRA to pay off debt or pay for a car?
I am going to need a new car soon and I was curious if I can borrow against my IRA to pay for the majority of the car so I don't have to finance much. Also, can I borrow against my IRA to pay off ...
6
votes
4answers
502 views
Should I file an insurance claim for a door ding?
I purchased a new black sedan in January of this year.
A few months back, the car was keyed, and therefore I filed an insurance claim and to get it fixed.
Now, today, I find that the door has ...
14
votes
14answers
4k views
Buying my first car out of college
So I just graduated college this past week and have a job lined up making 63000 a year. I was looking at buying a $27000 used 2008 BMW 328i, financing at about 500/month for 60 months.
I don't have ...
11
votes
10answers
1k views
Recent college grad. Down payment on a house or car?
So here's the situation I'm facing. I've recently graduated college but have been working for a while now. I've managed to save up around $10,000 aside for my "money to live" stash. And like most ...
2
votes
2answers
155 views
Is it worth it to re-finance my car loan?
I have 60-month car loan at 4.75%.
My bank sent me a note saying that I am able to re-finance at 3.25%, to either 60 or 48 months.
I am calculating that it will probably save me about 400-500 ...
8
votes
4answers
2k views
What is the average margin on a vehicle from a used car dealer?
I'm going to be looking for a used car here from a dealer, and I'd like to be as informed as possible when entering negotiations. A dealer has the car I want, used (looks like it was brought back from ...
3
votes
1answer
623 views
Is a defensive driving course worth the money? How much is a typical insurance discount?
My car insurer offers a defensive driving discount. I'm under 30, never had an accident or ticket, and paying a pretty cheap rate already, but paying less is always better.
The insurer's published ...
2
votes
2answers
595 views
How does “taking over payments” work?
I will be purchasing a new car fairly soon here, and could help my SO out a lot by having her "take over" payments on my current car. I've heard this term colloquially, but I'm not sure how it works ...
5
votes
4answers
753 views
Will paying off my car early hinder my ability to build credit?
I don't have much credit because I am young but I did recently purchase a car which I am paying 9% on. This seems ridiculously high to me and I was thinking about pulling out some of my stocks to pay ...
8
votes
3answers
1k views
Credit life & disability Insurance on vehicle loan for elderly buyer: Does it make sense?
An older gentleman needs reliable transportation to replace his 10 year old vehicle with over 100k miles. He can afford the payments, but doesn't want to burden his younger wife with payments she ...
5
votes
4answers
229 views
Which car features are more cost effective if purchased & installed aftermarket, as opposed to when buying the car?
So I'm looking at buying a new car, because I'm going to need one to commute to a new job. There are many features I "like" (not 'must-have', just 'like') in new cars these days:
Remote Keyless ...
4
votes
1answer
107 views
How to protect myself from unethical business collecting on an invalid past due amount?
I had my car serviced by a local shop. I ultimately picked them because they were close and didn't really research their online reputation. Suffice it to say I was less than pleased. The car broke ...
7
votes
7answers
356 views
In a very tough credit/financial situation
So here is my situation. I have a car that is very dangerous to drive at this point. Like I am seriously worried that either I or the car won't make it through the upcoming winter months. Now, I would ...
7
votes
6answers
2k views
What to do with an expensive, upside-down car loan?
Unfortunately, my wife had a car before we got married. She got the car a year or so before we met and now we still have the car. Her mother offered to pay for the car (my wife was still a student at ...
2
votes
2answers
171 views
[UK] What are the consequences of transferring ownership (not selling) a vehicle on tax, licensing and future resale value?
Many cities in the UK won't sell more than one parking permit per person. I didn't realise this when buying a second car and now need to transfer one of them into my wife's name (who uses one of the ...
4
votes
6answers
4k views
Where can I get a car loan for roughly $2000?
I'm looking to buy a new car and have found one that I really like. It is priced at $4500 (with taxes). I currently have $2700 in my savings account. I would like to get a loan for $2000 (leaving me ...
8
votes
3answers
755 views
How do I sell my car?
I've decided to sell my car. The bluebook website estimates I can sell it for X dollars. How do I actually sell it? (and get as close to X dollars as possible)
Just fyi I live in a large city in ...
27
votes
5answers
10k views
What is the best way to accept payment when selling a used car?
I plan on selling a used car via Craigslist, and I hope to get between $4-5K for it. I don't want to take a check from a stranger, but I'm concerned that no one will be willing to show up at my house ...
3
votes
5answers
4k views
How can I determine how much my car insurance will cost me?
I'm 25 and I've been rear-ended once when I was 16 or 17. I've never been in any other accidents or had any speeding tickets. I am currently on my mothers insurance and driving her car. I will be ...
4
votes
6answers
4k views
Why do 10 year-old luxury cars lose so much value?
I'm looking at Kelly Blue Book values for top business class sedans and they depreciate like crazy.
For example:
BMW 7 2010 : $82,000 - $137,000
BMW 7 2001 : $11,500 - $15,050
...
7
votes
5answers
2k views
How much of a down payment for a car should I save before purchasing it?
I am thinking about getting a new or used car from a local dealer in town. I have worked and saved some money to use as a down payment for it. Some people have told me that I should save nearly all ...
15
votes
5answers
312 views
How can I tell if buying a cheaper car will end up costing me more?
Cars can be very expensive, so it seems like a good place to save money. However, I worry that getting a car that is too cheap, especially if buying used, may end up costing me more in maintenance, ...
0
votes
3answers
355 views
What's the best time of a year to buy a car or a house in Canada?
Are there any months where car or house prices usually drop in Canada? Is the difference noticeable enough to justify the waiting?
4
votes
4answers
578 views
How to decide whether to replace or repair?
My car has apparently has a blown head gasket...
The options at this point are basically:
put $5k into an 8 year old car with 120k mi that is otherwise in good shape (with a 2 year warranty on the ...
14
votes
5answers
3k views
How do I know when I am financially stable/ready to move out on my own?
Some background information:
I'm 23 and living at home. I have a good full time job as a web programmer that I've been at for over one year. It includes benefits and 401K (which after one year I ...
7
votes
2answers
527 views
What are your thoughts on Dave Ramsey's “Drive Free, Retire Rich” idea?
Aside from the horribly optimistic interest rate projections in the "Drive Free, Retire Rich" video, is this a plausible way to deal with auto expenses over one's lifetime?
The basic plan is:
get ...
3
votes
1answer
379 views
I'm halfway through a 5-year purchase financing deal on my car. It's expensive. Can I sell it and get a cheaper car?
How would I do that? Wouldn't know where to start. My financing is with a major bank and I think my rate is pretty low. Are there likely penalties?
6
votes
3answers
188 views
What is the best option for an occasional driver in the USA?
I never had a car before, but I'm starting to feel the need of having one.
Fortunately, I can bike to work, and would only use the car on weekends (and very occasionally on weekdays). Additionally, ...
21
votes
2answers
903 views
What are some tips for getting the upper hand in car price negotiations?
My family wheels are pushing 200K miles and lights are starting to come on, noises are starting to come out, and I want to investigate a newer car before I sink money into repairing mine.
What are ...
6
votes
8answers
199 views
What is a good way to save money on car expenses?
What are good ways to save on maintenance/fuel and prolong the life of a car?
8
votes
4answers
253 views
What's the best way to get cash for an old car?
If I am not going to trade in my car what are other good options to convert it into cash?
6
votes
4answers
242 views
How can I save money on car insurance?
What are some of the easy or not-so-easy ways to save money on car insurance?
2
votes
1answer
349 views
Is it possible to lease a car in Canada as a non-resident?
I'm a non resident of Canada, living in Vancouver, BC, Canada - what are the rules, regs and issues in leasing a car - is it even possible?
