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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8 votes
2 answers
3k views

Declaring bankruptcy when I am the primary and my son is the co-signer on his car loan

Four years ago, I thought I was cosigning on my son's car. At the time, I was in Oklahoma and he was a New Mexico, so everything was done through FedEx. I have since moved to New Mexico and ...
Connie 's user avatar
2 votes
1 answer
321 views

Sold my car, but buyer used fake driver's license and fake TD bank draft

I sold my car in an ICBC office in Vancouver. The buyer came with a fake driver’s license and a fake bank draft. I deposited the bank draft via mobile app, and it was accepted. Then I signed the paper....
MED's user avatar
  • 21
-2 votes
1 answer
198 views

Will a cosigner getting another loan without me affect me in any way? [closed]

My co-signer and I got a Volkswagen for her and myself, her being my co-signer now she just showed up with a new car and is surrendering her car will that effect me since she co-signed for me at the ...
Tony Cisneros's user avatar
0 votes
0 answers
81 views

Can NJ's rebate program for electric vehicles be resumed just by the governor's direction?

NJ has a program which provides a substantial rebate on the purchase or lease of an electric vehicle. In addition, NJ doesn't charge sales tax on EV. Couple that with the federal rebate and EVs are ...
Pyrotechnical's user avatar
2 votes
2 answers
307 views

Co-signer or Buyer that is the question [duplicate]

My stepmother asked me to co-sign on a brand new car. I did it because I felt obligated. When we got to the dealership they said her credit was so messed up to get the car I had to be the primary and ...
Tatiana Loving's user avatar
1 vote
1 answer
656 views

Bought a lemon and the bill of sale has an incorrect price

I paid $2100 for a vehicle but on the bill of sale he put $839.75. I paid with card through cash app so I have proof of what I actually paid. The vehicle got less than a quarter mile down the road and ...
megan bullard's user avatar
17 votes
1 answer
30k views

I co-signed for my son's car and he died. I told the bank to come get it and they told me they won't take it

The loan keeps showing up on my credit report. They offered me a pay off but I can't afford to pay it off. I asked the loan company what to do? And they can't give me a answer...
Don Rodenbough's user avatar
0 votes
1 answer
105 views

California car title transfer

I loaned a car to someone in California and I now want to transfer title to them for free. They will not sign the title transfer papers or return the car. I am concerned about my insurance liability. ...
Tony Walker's user avatar
1 vote
0 answers
78 views

Varying interest charges on car loan

I am making my $386 a month car loan payments each month on time. I just looked at the payment history and the amounts of principal and interest vary widely each month. For example: October: Balance ...
KTBach's user avatar
  • 11
2 votes
4 answers
2k views

Does paying cash for a car for a better price work?

I have heard that you can often negotiate a better price for a used car if you pay with cash. Here is just one of many articles on the topic. In this case, I believe that by paying with cash people ...
nuggethead's user avatar
  • 2,059
1 vote
3 answers
627 views

Will I be asked to allow a credit check or requried to give my SSN if I pay cash for a used car?

This [older] post (link) makes it sound like it's likely I'd be expected to complete a credit application, give out my SSN, etc., if I walked into my local dealership and said I wanted to pay cash for ...
nuggethead's user avatar
  • 2,059
2 votes
1 answer
2k views

My girlfriend helped me buy a car - Who is responsible if she takes it back?

My original car was totaled, and I couldn't get a car on my own due to bad credit. The dealership approved me at a high rate with money down. When I get my trust fund, I can buy one. My girlfriend ...
Mike's user avatar
  • 21
-1 votes
1 answer
188 views

How to deal with insurance after car accident

My car met with an accident early January. The doors were slammed and the person who hit our car admitted his fault and confirmed his insurance will take care of expense. This is what happened (...
OpenStack's user avatar
  • 127
1 vote
2 answers
798 views

As a new grad nurse entering their new job in the ICU making $40 an hour, how should I approach a vehicle?

I am a new grad nurse entering into the field in ICU, I have $12,000 in student debt currently, but start my 1 year BSN this fall which will leave me with an unknown amount of additional student debt. ...
Roop's user avatar
  • 21
1 vote
1 answer
2k views

Will a purchase of $9500 in cash plus $8000 in check trigger an IRS alert? And should I care? [closed]

If I went to a dealership to purchase a car and put $9500 down cash, and girlfriend gave me a check $8000 totaling $17,500 to go toward the down payment, will the dealership have to file the 8300 tax ...
David272's user avatar
-3 votes
1 answer
209 views

What are the pros and cons, if any, of selling my WA-registered car in California as a Washington state resident?

I am a Washington state resident. I have a car registered in Washington state. I may have to drive down to California (Bay Area or Los Angeles). However, on the way back to Washington state, I can ...
Franck Dernoncourt's user avatar
0 votes
2 answers
215 views

Why is nobody offering me the sample APRs when I have excellent credit?

I have been tried to get pre-approval for an auto loan from different companies like Carmax and Carvana. Before I applied, they had a calculator to estimate payments, and the asterix, it says "...
Village's user avatar
  • 2,813
1 vote
0 answers
116 views

What to know when buying a used car from Canada?

I'm in the market for a used pickup and I found one with the options I like, but it's in Canada (I'm in the USA). I'm mostly concerned about crossing the border on the way back - it's just a bill of ...
Kenny's user avatar
  • 11
2 votes
0 answers
431 views

Can we hand over blank cheques to a bank when applying for any kinda loans?

I applied for a 4 lakh car loan with HDFC Bank, but before they will approve it, they require four blank cheques with my signature. Is it safe to give the bank those cheques?
Ankur Dhariwal's user avatar
10 votes
12 answers
6k views

Do I use savings to buy a car?

My current car worth £700 needs £1500 of repairs. It’s a bit of a money pit at the moment with big repairs needed a lot. I want to buy a new car. I’m looking at used cars and I found a 2015 Corsa that ...
Jess's user avatar
  • 101
-3 votes
1 answer
121 views

why do you have to pay 720 dollars to register new truck but only 36 dollars for an old car? [closed]

Why do you have to pay 720 dollars to register a new truck but only 36 dollars for an old car?
Rudy Corona's user avatar
36 votes
10 answers
15k views

Car buyer wants to pay by actual cash - what are the motivations and risks?

My partner was is listing her car for sale (about $9-10K CAD). She got contacted by someone who wanted to pay with cash bills. He was somewhat reassuring about the obvious risks of walking around ...
Italian Philosophers 4 Monica's user avatar
18 votes
3 answers
4k views

Is a Co signer on a leased vehicle responsible for damages?

I co-signed for my sister car a couple years back. It was a leased car. And with leased cars you have to pay for all the damages you have caused. As a co signer am I the one responsible to pay for ...
Aw4931's user avatar
  • 181
1 vote
1 answer
169 views

1 year T-bill for buying a car in Europe

I live in Europe and I plan to buy a car exactly one year from now. I want to invest now approx. 32000 EUR in 1 year bonds to profit from the interest rate and to secure my money until I need it. My ...
MrRobot's user avatar
  • 135
1 vote
0 answers
257 views

Can I sue the car dealership for fraud if they let my ex finance a car under my name?

About 4 years ago (2018), i was living with my ex and I leased a car for 3 years but under my name only. 2 years later (2020), we broke up but i let her use the car for the last year of the lease. ...
Sam's user avatar
  • 21
0 votes
2 answers
336 views

Should I buy a 23k hyundai elantra at 18?

With the car market being so insane right now it’s hard to find a car worth spending my money on. I live in LA so that’s probably making it worse, but I chose to go to a community college for 2 years ...
Hannah De La Cruz's user avatar
0 votes
1 answer
394 views

Bank appears to be charging me more interest on a loan than they should

I have a car loan. This is a simple interest loan. When I enter in the details into a loan amortization calculator online, I get a different payment amount than what I have been paying. And, the ...
YWE's user avatar
  • 103
4 votes
2 answers
638 views

Paid Cash for a car and dealer called me to return it 10 days later?

Bought a car cash from a dealer and traded in my car with a lien left over of $1100 dollars. We agreed after negotiations on buying used car for $23K and they would accept my trade for $5500 leaving $...
Bob Lewis's user avatar
13 votes
6 answers
3k views

How do you calculate the depreciation on a car?

I’m thinking of selling my new car. Here are some informations about it. Model: Suzuki XL7 2022 Bought: Brand New, January 2022 (6 months of usage) Initial Price: ~$16600 Mileage: 3100 miles If I’m ...
Kezia's user avatar
  • 131
0 votes
1 answer
260 views

To what car value does Glass's Guide refer to wrt insurance?

If ones car is written off in an accident, a statement such as "We have used the Glass's guide for valuation of your vehicle" is expected from the insurance company one is dealing with. ...
User65535's user avatar
  • 440
1 vote
2 answers
229 views

Are third-party vehicle insurances allowed to keep the no-claims class down in Germany?

Almost one year ago, I bought my first car. It's the first and thus far only motor vehicle registered/insured to my name. The insurance company just sent me this invoice: They told me that for the ...
UTF-8's user avatar
  • 922
2 votes
2 answers
403 views

Can one cancel ones car insurance after a no fault crash?

Five days ago I purchased a one year third party only car insurance on the internet, which I believe gives me 14 days cooling off period during which cancel it. Today I was involved in a collision in ...
User65535's user avatar
  • 440
16 votes
10 answers
5k views

Why is the mandated minimal liability car insurance coverage so high?

All over the world, you need car insurance that covers the damages you do to others. In Austria and Germany, this insurance has to cover at least 7 790 000 € of damages. Isn't it a bit high? This ...
Martin Drozdik's user avatar
5 votes
5 answers
741 views

Is considering worth of car repair by comparing repair cost against value of car a sunk cost fallacy?

Got my van checked out today from a check engine light. Long story short, part of the transmission has gone bad, and given the lower quality of this particular transmission, rather than diagnose the ...
NeutronStar's user avatar
  • 1,322
2 votes
1 answer
296 views

Can I switch my car lease to prepaid?

My financial circumstances have recently changed, and as a result my cash flow is slightly negative. I have a car lease but I also have enough saved that I could prepay the remaining payments on the ...
Andy's user avatar
  • 845
-1 votes
1 answer
162 views

Should I buy a second car at 18 years old? [closed]

Is it smart to buy a 43k car when I have saved up 26k and make around 1000 a week as an 18 year old
Tim's user avatar
  • 11
1 vote
1 answer
94 views

Why does third party only car insurance price depend on where you live?

It is in the news that car insurance is higher in areas that have a higher proportion of people of colour. This is an analysis that is very easy for anyone to do, so I thought I would see what really ...
User65535's user avatar
  • 440
3 votes
1 answer
314 views

Possible Car Dealership Scam

I am new to purchasing vehicles and handling financial matters in general. I am trying to improve my financial literacy but still have a ways to go. My father is currently trying to purchase a vehicle ...
Polo's user avatar
  • 31
0 votes
2 answers
331 views

Lease with intent to purchase a vehicle

I am in the market for my first new vehicle ever. It will be a minivan for our growing family and we ideally plan to keep it forever. That being said, none of my vehicles have ever cost more than $15k ...
quirky purple's user avatar
3 votes
2 answers
2k views

Capital gains tax on car trade in with appreciated value?

For US tax resident If car is traded in for a higher value car and the trade in value of the car is higher than the purchase price of the car, considering long term (>1yr)? Will there be any ...
donm's user avatar
  • 141
0 votes
1 answer
131 views

Does the increased value of my used vehicle equal the increased cost of a new vehicle during the current chip shortage?

I have been researching trading in my current vehicle and purchasing a new or use model. From what I can tell used vehicles across all manufacturers are still up substantially, ~25% YoY on average. ...
KDecker's user avatar
  • 1,108
1 vote
2 answers
256 views

Potential job offer where I would have to buy a car to use. How to calculate if it's worth it?

I am expecting a job offer for what is basically a delivery driver position. I would be using my own vehicle. There had been talk about getting reimbursed for mileage but now it's going to be a flat ...
user39743's user avatar
0 votes
1 answer
102 views

Taking home loan and car loan separately with some down payment or taking one loan without any down payment. which one is good?

Am from India and planning to buy a house and a car. I have ~10L in my hand. House costs around 36L (Including Registration and other charges) and car cost around 11L (on-road price). So paying down ...
Dhanapal's user avatar
  • 101
2 votes
2 answers
184 views

What is the procedure of getting an auto loan?

I am a new international student in the US. My credit score is 702 in the Capitalone credit wise and 710 in the CreditKarma website. I am a fully funded PhD student and have an annual income around $...
user avatar
0 votes
1 answer
174 views

purchasing a car with a trial period

A stranger is selling their car for $5000 and I like it for that price. But, instead of a straight purchase, I want to arrange a deal in which I pay $5000 in full now (without any loans) but can ...
bobuhito's user avatar
  • 502
1 vote
0 answers
267 views

Can Salary Sacrifice be used to buy, not lease, a car in the UK?

I'm interested in buying an electric car and I'm aware that salary sacrifice can be used to lease one with tax benefits. I don't like leasing cars as I like to keep them for a long time. I can't ...
TimID's user avatar
  • 11
38 votes
8 answers
12k views

Did my insurance company scam me when they paid less for my car than I saw it selling for at a used car dealership later?

Tree fell on my car, windshield smashed. Other than that I can drive it, I can still get in and drive it around (obviously with limited visibility) had to wear extra protection so I wouldn't get cut. ...
user760783's user avatar
2 votes
3 answers
263 views

How much more do cars cost because of Covid?

I'm wanting to buy a car in the next few years. Covid caused used car prices to jump, and new car prices followed along. Prices have started to come back down, but my understanding is that they're ...
Teepeemm's user avatar
  • 409
0 votes
1 answer
135 views

What should I take into account when deciding whether I should sell my car?

I purchased a 2016 Acura TLX in 2017 for ~$28,000 (2k down, 26 financed at 4.45%). I now owe ~$4,600 on the car. The car has a few damages to it (dented hood tip, cracked windshield, cracked taillight,...
Runeaway3's user avatar
  • 2,898
12 votes
7 answers
15k views

Could I take my car even though my mom says no?

I have recently moved out of my mother's house. I'm 19. My mom gave me her car since she got another one. I pay the car payments but she pays the insurance, but she expects me to pay all the month’s ...
Brooke's user avatar
  • 121

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