Questions tagged [car]

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

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4
votes
2answers
141 views

Is COVID-19 used car deals and lease renegotiation really a thing?

I have been reading that due to the COVID-19 pandemic, auto inventories are high and dealers often do not want lease returns. Wholesale auction prices are reportedly plummeting even as of a couple ...
0
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0answers
20 views

Purchasing a car from a private seller in CA as a PA resident

I'm currently a resident of Pennsylvania, and I'm planning to purchase a second-hand car from a private seller in California. To my knowledge, vehicle purchase is a two-step process: Transfer the ...
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2answers
148 views

I needed a co signer but my cosigner is the primary on my auto loan

so just a couple days ago I was able to get a car for. $100 down right i thought to good to be true so i went to the dealer ship anyway, they ran my credit and gave me 2 options they told me i can get ...
0
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1answer
108 views

Car affordability [closed]

New here. So. To start, I am a HUGE car head- so finding an affordable car is not really the aim here. I am 23 and a ~somewhat~ recent college grad. I have been blessed with an amazing job and manage ...
0
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1answer
40 views

Calculating 179 Vehicle Deduction with Trade in

Let's say you trade in a work car that you never depreciated for a new truck that qualifies for the 179 100% deduction (truck has a GVWR over 6,000-pounds). To keep the numbers simple, the work car ...
1
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0answers
80 views

I bought a car from a small dealership without knowing the dealer didnt have the title

Ok i bought a car from a small dealership (mom and pop style) first time ever doing this. i was told that i would be receiving my tags via mail, ok no problem there. Several weeks passed still no ...
1
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1answer
80 views

Refinance negative equity of current vehicle into new one?

When I was lining up at the grocery store today, I overheard these guys talking about trading up for a new car, because this pandemic is stifling car sales. Can you explain like I'm 5, in simplistic ...
0
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1answer
112 views

Taking Car Ownership

My sister co-signed on a car loan with her boyfriend (now Ex). They are both Registered Owners on the car. He is the primary for making payments on the vehicle but now he's not able to afford it. ...
0
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2answers
85 views

Can you get a mortgage loan larger than the house amount and buy a car with the remaining loan amount?

Would it be possible to get a mortgage loan for 40-50,000+ the amount of the house and then use the remaking amount of the loan to buy a car? The house is 62,000 and I’m pre-Approved for 120,000 .. ...
0
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2answers
130 views

Lease a Car or Buy a Car? Excel Sheet Comparison

I did an Excel Sheet trying to compare between a Car Lease and a Car Purchase. By "Car Lease" I mean maybe to what is called "hire purchase scheme"; a monthly payments that at the end of the period (...
0
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0answers
46 views

i am co-buyer on auto loan

the buyer is deceased and the title is in his name. I am co-buyer on paperwork with finance co. Can anyone make claim on car if he willed it to me?
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0answers
39 views

USA Taxes: Reporting loss on sale of new car won in contest

Won new car in contest in Texas USA. Sold for a $5000 loss to dealership. Received form to report win on my taxes. How do I report loss from sale on my taxes?
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3answers
135 views

To sell or to keep possibly unreliable car

I have bought a car for $7700 back in October. I had to fix plenty of things after that, but it never left me stranded. I have spent $2000 more on fixes and $1000 on maintenance. Now it seemingly only ...
1
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1answer
77 views

Do you need both a bill of sale and title when buying a used car?

I am attempting to make my first used car purchase from a private party in New York. I understand that the title should be transferred to me after the sale but what about a "Bill of Sale" ? Would I ...
1
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2answers
211 views

Deposit hold for over a month in Credit card

I have recently rented a car for about a month and one thing just came to my mind. At the rental office they took a very high deposit into my credit card (I have a foreign license, this happens in ...
2
votes
1answer
148 views

Expensive tires or cheap tires to trade in

I am planning on buying a new car by the end of next summer (it is February now) but the tread on my current tires is shot and we get a lot of snow where I live. So for safety reasons, I definitely ...
1
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1answer
190 views

I took over the payments on my sister's car. But it is left in her name

About 11 months ago. I took over the payments on my sister's car because she wanted to get a new one and they wouldn't let her have two car loans. So instead of trading this in she let me take over ...
-2
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1answer
316 views

Im 19 years old and is buying a $45k car with it? [duplicate]

Im 19 years old and share rent with someone. I make $2,320 a month before tax. My rent is $750 a month and i don't pay for anything else. Would it be a good idea or will i go into crippling debt if i ...
0
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2answers
203 views

Is a down payment better than a lump sum payment?

I forgot to tell my banker that I wanted to make a down payment on my auto loan. According to my banker, the interest rate wouldn't have changed from the lower principal, only my monthly minimum ...
38
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4answers
14k views

How do I lend money to a friend for a car and put the car as collateral?

A friend of mine wants to buy a car, but does not have the money for it. Instead of him going to a bank and borrowing the money to buy the car, I was thinking of maybe taking some cash from my bank ...
1
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0answers
81 views

Repairing old car vs buying new (used) one [duplicate]

My car just came from the inspection with a nice long list of repairs that have to be done to pass the main inspection for security (Hauptuntersuchung). The repairs sum up to something between 1500€ ...
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3answers
2k views

Buying new car at 18 [duplicate]

I am 18 years old and a freshman in college living at home. I have 0 expenses except $3,000 a year for college and gas for my current car. I am currently looking into purchasing a brand new honda ...
6
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1answer
489 views

Upside down on car loan, sell and refinance gap?

In order to cut down our monthly expenses we are looking to sell our car. We still owe $12,000, kelley blue book says its worth around $10,000 and we don't have $2000 lying around to cover the gap. ...
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2answers
138 views

How to Accept Safe Payment on Car Sale (Canada)

This question is similar to this one from 9 years ago, but I don't think it's a duplicate. I want to receive payment for a car that I don't personally own (money to be subsequently sent to my friend ...
19
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14answers
14k views

I’m 18 years old and want to finance a £30,000 car [duplicate]

I'm 18 years old and I've always wanted an Audi Q5. Currently, I'm working full-time. I earn £28,800 annually and that will be due to go up soon. The car I've had eyes on costs £31,789. The monthly ...
1
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1answer
101 views

Advice/Experiences, Auto Insurance, Florida, 18 years old [closed]

I am in Florida, United States. I have recently bought a reliable (however temporary) 2004 Chevrolet Colorado (rear wheel drive, maroon colored pickup truck). I have done a lot of research but I'm ...
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1answer
182 views

How can I insure a driver who doesn’t live with me but is borrowing my car long term?

My cousin is borrowing one of my cars to get to school and work. He’s 17. He lives less than an hour from me, but in another state. He is insured as a driver on his family’s policy, and the car is ...
1
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2answers
371 views

How can I help a 17 year old track and pay me back a personal loan?

I’m selling my 17 year old cousin my car. He wants to make regular payments on it, every two weeks or so. Instead of taking cash, issuing receipts, and tracking this on paper somewhere, I’d like to ...
2
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2answers
203 views

How do vehicle loan transfers work?

I'm going to buy a car from a private seller. The seller bought this car from Dealer X couple years ago. Now, the seller wants to buy a new car from Dealer N. The seller didn't like Dealer N's trade ...
23
votes
8answers
15k views

Car as a good investment

I have been reading a lot and doing as much research as I could and need some help to decide whether I could consider the action of buying a car as an investment. This question comes after I can't ...
3
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1answer
192 views

Spouse Cosigning

My wife and I currently own a home and finance two cars. We each have one car completely in our name and are co-borrowers on the house. I am about to trade in my car, and the interest rate will be ...
2
votes
1answer
165 views

First time getting car finance, but existing car in my wife's name

Our current situation is that we’ve always had our sole family car registered in my wife’s name, and insured in her name with me as an extra driver. However, we’re planning on buying a new car with ...
1
vote
1answer
124 views

PCP opening balance seems very high

I’ve just received my first statement from my first PCP car agreement and I’m very confused. My credit amount was £20,500 ish and my statement shows that my opening balance 29 days later (when my ...
-1
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1answer
112 views

Registration and insurance for gift car

Our 30-year-old nephew lives with us. He is about to receive a used car as a gift. My wife and I each own a car, and all three of us are listed as insured drivers. Is it best to include his car in ...
2
votes
0answers
158 views

Buying a car as a freelancer - Business costs

I am a freelance software developer, and I am thinking of buying a car, which I would probably use every now and then for personal matters, but mostly for business related trips. What are the ...
2
votes
1answer
158 views

Should I appeal the property tax assessment on a car I bought?

Half the counties in USA charge personal property tax on car. That is OK, but recently my county is appraising my car at a very high price and the reply from the county is that Since there is no ...
35
votes
4answers
13k views

Why is the car dealer insisting on a loan instead of cash?

I saw a question that said "He (dealer) knocked down the price quite a bit" but my experience is different. The dealership says that they have a US$1500 incentive if I take a loan from their financing ...
6
votes
1answer
394 views

Accidentally reported a minor accident on my car - what now?

A few days ago I idiotically scraped the side of my car against a concrete column. There was no damage done to the column and no dents on my car, but there is a significant amount of scratches on my ...
1
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5answers
3k views

How to determine car loan length as a function of how long I plan to keep a car

I will be financing* the purchase of a brand new car that I plan to keep for 3 years. Based on this I am trying to understand how to structure the loan variables (term, rate) appropriately. Should I ...
0
votes
3answers
245 views

Should I pay off my car loan early?

I have a car loan with a payoff of $5,200. we pay $200 / mo for 30 more months. We are both retired working part time. Should we pay off the balance now?
0
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1answer
605 views

How does this scam involving buying a used car cash-only work?

I'm in pursuit of a used car. I came across this 2010 Camry for 4200 CAD. The car is good, I test drove it in the city and on the highway and there are no problems with it as far as I can tell. ...
0
votes
3answers
257 views

Used car with lower TCO

I'm looking at trying to save money by purchasing and driving a used car. However, I have no idea where to start other than the realization that the total cost of ownership is far more than just the ...
5
votes
4answers
692 views

How can I purchase a car when no one will loan to me?

My wife's car recently broke down, and is in need of replacing. My own car is also on its last legs so we intended to purchase something new-ish (2015-2017 model) to get something a little more ...
0
votes
1answer
257 views

I need help finding a car

I am seventeen years old. I have have a job but I only make a little money. I am trying to get a car for my senior year of high school but I only have about $400 saved up. I have to pay other ...
0
votes
2answers
158 views

Buying a used vehicle from dealer

I have about 12,000 in cash saved up for purchasing a toyota 4runner. I have a vehicle in mind for 22,450 that is as good of a deal as I can possibly find after looking for months off and on. AS far ...
8
votes
8answers
7k views

Credit score and financing new car

Little bit about my situation- Bought a car with cash about 5 years ago, at the time it was a year old. That car is now a total loss and I’m receiving about 5k for it from my insurance. I’m now in ...
39
votes
5answers
17k views

Is this car delivery via Ebay Motors on Craigslist a scam?

I found a Craigslist posting selling what looks to be a wonderfully maintained vehicle for low miles and a very low price. I contacted the seller and she responded with this. I've omitted personally ...
4
votes
2answers
2k views

How to remove my partner's name off a car title?

My partner and I have this car and both names are on the title. The car is paid off to the dealer, but right before it was paid off my partner got in trouble and had to do 6 months in prison. The ...
49
votes
12answers
20k views

My mother co-signed for my car. Can she take it away from me if I am the one making car payments?

My credit is in the low 500s and I was unable to get a car loan. My mom cosigned for me and I've now had a beautiful car for three months. I've been making on-time payments, the registration is in my ...
2
votes
1answer
131 views

How do I calculate the monthly PCP repayment figure for a car purchase in the UK?

How would I calculate the PCP monthly repayment figure from the following information please? Car offer price: £30,000 APR: 3.9% Number of repayments: 48 Balloon payment: £15,000 I've found similar ...

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