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

0
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1answer
61 views

How to sell unregistered car to out-of-state buyer?

Apologies if this is the wrong place for this question, but I came here based on this meta post. I have a car that has been sitting in a friend's garage in NJ for about a year, unregistered. It was ...
2
votes
1answer
68 views

Car-transfer question

I'm kind of young (don't have a reliable source of income), but my dad bought me a car and its registered and financed in South Carolina and I live in Louisiana (college and residence.) If I have my ...
1
vote
3answers
235 views

Is it wise to buy a car in a high inflation rate?

A couple of my friends are planning on buying a car, and asked me to take part, so every one will own 1/3 of it. Here are some facts about me: The inflation rate in my country (Iran) is high. It's ...
6
votes
1answer
136 views

Selling a car with outstanding finance in the UK

I have a car which has outstanding finance. BMW have given me a settlement figure of £15,000. A buyer is interested in buying the car for £13,000. The buyer would like to pay BMW directly using my ...
11
votes
3answers
375 views

Questions from dealer when paying cash for a car

My wife and I recently bought a new Chevy from a dealer here in California. We didn't use a loan, paid using a personal check. Even though we told them we weren't financing the deal, they insisted on ...
2
votes
3answers
78 views

Does the invested equity in a leased vehicle count towards the residual value?

Let me preface: I have learned my lesson and am trying to mitigate the consequences as much as possible. I was naive and did not fully understand what I was agreeing to. I was talked into trading in ...
1
vote
0answers
43 views

Reclaiming value out of a car needing expensive repair [duplicate]

I have a car that I purchased for $6k. It drives fine, but needs a new computer, which will cost $2.8k. The diagnosis already cost $400. Given that doing this repair will be 46% of the car value, I am ...
2
votes
3answers
295 views

How to answer a car salesman question?

I looked on internet forums and came to know that people in other cities have been paying a certain dollar amount for a particular model of Honda Civic. I want to quote that price to the dealer here ...
0
votes
3answers
221 views

Trading in a used car

Suppose I have a used car that has a sale value of $X, and I wish to purchase another used car whose purchase price is the same $X. Theoretically, I should be able to accomplish this trade with zero ...
1
vote
3answers
729 views

I cosigned for my son. He took off in the car before it was fully financed. I want my name completely off the car

I cosigned for my son. He took off in the car before it was fully financed. I want my name off the car. We signed paperwork stating we agreed on a 60 month term through a bank but then found out the ...
0
votes
1answer
64 views

Car insurance for the summer in Canada

We're thinking about buying a car in Nova Scotia, Canada while we are here for the summer. We are residents of Ontario. We don't really want to keep the car past our time here. The question is how do ...
0
votes
2answers
232 views

cosigner took car

My son and his girl friend wanted to buy a car. My son was not working but he traded in his car and the car is in my name and the girl friend is a cosigner. Well, they broke up and she took off (we ...
1
vote
0answers
61 views

How to sell a financed car in California? [duplicate]

Hi I'm trying to sell a financed car. I have around 5k left to pay through Wells Fargo and and I'm selling the car for 10k. A few questions: Q1: Do I still have to fill out a Bill of Sale and a ...
1
vote
2answers
134 views

Best way to get temporary car insurance with outstanding claim?

So about 4 months ago I purchased my first car, 2014 Toyota RAV4, from a large Toyota dealership in Virginia, USA. During the purchase they told me for around $1000 they would title, put plates on, ...
2
votes
0answers
196 views

Buying a new car - price dropped while awaiting delivery

People! I've been doing okay financially and recently ordered a new car (Middle of April). While the vehicle is expected to be delivered in the next 2 weeks, I noticed that the dealership website has ...
5
votes
1answer
249 views

Can I remove a cosigner from a car loan? Will it affect my credit?

I will be moving from NY to California for a job that starts 3 months from now. I flew to California to finance a car from a dealership, but since I had not found an apartment yet, I had no california ...
0
votes
1answer
110 views

Roughly how long should I ideally wait to apply for a large car loan after increasing my credit card limit?

Back in March, I elected to increase my existing line of credit limit up to $2,000, which came with a reduction in interest (from 12.5% to 8.5%). Now, I'm in line to buy a car that I really want, but ...
1
vote
3answers
178 views

Financial advice on the big 3

I recently graduated in December and have been working for the past 5 months. Since then I have saved 13,000. Now here is my conundrum, I am getting married in 6 months ($10,000), we are currently ...
1
vote
1answer
118 views

Leasing Question

I leased a vehicle for 39 months. At the time they told me I was allowed 12,000 miles a year. On the contract I and the dealer signed where it says not to exceed a certian amount of miles or .25 per ...
1
vote
1answer
216 views

Co-signer and Primary

My co-signer ending up being the primary on my car loan. Now that makes me the co-signer. Both of our names are on the car loan. Do i have any rights to the car? can the primary take the car from me ...
1
vote
1answer
89 views

Is it a bad idea to lease a car even when looking for a car for only short term purposes

I am looking to buy my first vehicle and I was convinced that a leased car would be better option due to lesser upfront costs, lower paymnets and an option to buy the car at the end of the lease. ...
1
vote
2answers
181 views

Going from a 35k car to 130k car, what is the difficulty in getting an approved loan?

What would the difficulties I face be with moving into a car of this cost when I haven't had a car close in cost prior? It isn't an issue of Salary, or credit, both are high enough to easily cover ...
2
votes
1answer
560 views

Pre-Owned (CPO) Car Purchase: Dealer 'Certification' fee?

I believe I've been had in what seems like one of the most genius negotiating moves I've ever seen. I went to see this 2016 Nissan Versa S, priced at roughly 10k for 20k miles. It was exactly where ...
0
votes
2answers
208 views

Financial liability in allowing a relative to drive a car I own

Would I be accepting financial liability—beyond the value of the vehicle—if I allow a relative to be the primary driver for a car that I own? This is assuming that the relative has car insurance ...
4
votes
1answer
158 views

A car for the director

If as director and sole shareholder of a limited company (in the UK) I want to purchase (or possibly even lease) a car for my use, will I be taxed as an employee for having the use of the vehicle and ...
4
votes
1answer
91 views

Itemizing deductions: Proportional tax paid for vehicle title and registration that is not sales tax

In 2017 I bought a used car out-of-state (rather than sort through the local options to find one without hidden water damage). Because I was not a Kansas resident, I had Kansas sales tax waived at ...
1
vote
3answers
197 views

Is hire purchase that risky compared to a personal loan in the case of a car crash?

I am very uneducated when it comes to personal finance. Four years ago I decided to buy a car. The dealer offered me the car with 0% interest and when I told him that I might pay the installments ...
2
votes
2answers
239 views

What factors should I consider in buying a used car?

I am looking to purchase a car to use for one year and to sell again. It'll be used mostly for driving around a suburb, but with a few extended road trips as well. My wife and I have three elementary ...
3
votes
2answers
123 views

What if other person claims car damage higher than actual (in USA)?

This is a hypothetical scenario but I'm thinking of it since I am going on a long trip within the United States. I currently have a car insurance that covers up to 15000$ damage to other cars. In ...
2
votes
0answers
132 views

Is “FMV of like-kind property you received” for a new car the MSRP or the dealership price?

I traded in my old car to purchase a new car (as in, latest year, never been owned before) in the middle of last year. I'm filling out my taxes and TurboTax is asking me to fill out the "FMV of like-...
6
votes
2answers
930 views

How is interest calculated on PCP agreements?

in December 2018, I'll be at the end of my PCP agreement for my current car and I'm weighing up my options. I've never really paid attention to the details about my previous finance agreements - I ...
1
vote
0answers
63 views

Can I refinance an car registered in Texas which is under my grandparents name with a loan in California state where I live

Need to know if its even possible to refinance my grandparents car from Texas to California where I live? I was looking to apply for a car loan through a credit union bank. I asked EECU but they ...
0
votes
1answer
208 views

Can I declare a capital loss on a vehicle sale? [duplicate]

If I sell a car or boat at a profit, I assume I have to pay a capital gains tax. Does it work in reverse as well? Can I declare a capital loss if lose money on the sale of a car or boat?
8
votes
1answer
2k views

Do I need to SORN a new car that's not being driven on the road for a short period of time?

I bought a new car yesterday. Private seller, no car dealers involved. The guy I bought it off was kind enough to drive it to my house. It's now parked on my drive (off the road). I'm not planning ...
2
votes
1answer
143 views

How to negotiate for a second hand car that has been sitting on the dealer lot for months?

I am interested to buy a BMW i3 in California and I saw that there are a few ones for less than $13000 that appear to be sitting in the dealer for months. I saw the very same car advertised for $16500 ...
5
votes
1answer
148 views

Selling newer car and buying used car to reduce monthly payment

I purchased a 2015 Ford Focus in August of 2016 with a loan for $15,700 for a term of 71 months. I've been paying $257 a month and have the loan down to $12,370. I decided to go back to school to do a ...
36
votes
7answers
12k views

What are the financial decisions leading to “barn find” automobiles?

Where I live there are laws against leaving vehicles to rot in one's backyard or dumping them in the forest, mostly to prevent soil pollution and the junkyard appearance. I understand different ...
2
votes
1answer
73 views

Is it legally binding in the UK to declare penalty charge notice issued by the council to the insurer?

Does the Penalty Charge Notice (PCN) for a traffic contravention issued by a local council need to be declared to the insurer? Also, does this affect the premium?
1
vote
1answer
44 views

Paid auto registration tax twice in 2017, can both payments be deducted?

The tax on this one vehicle is due January but has a 30 day grace period. Bill usually arrives in early Dec. I paid the tax in Feb 2017, and then again in Dec 2017. Can I tell TurboTax that I paid ...
-1
votes
1answer
69 views

Estimated car insurance cost without personal information [closed]

What are the best websites for estimating car insurance price without leaving personal information?
3
votes
3answers
264 views

How much am I saving by waiting a few years to buy a car?

Let's say I'm considering buying a new (used) car for $15k, and could pay in cash. My current car is in working condition, so I could wait a few years before buying a replacement. My question is: how ...
0
votes
1answer
173 views

How to Accept Safe Payment on Car Sale [duplicate]

I live a couple of states away from a good offer on my car. I've already seen What is the best way to accept payment when selling a used car?, but the distance makes our meeting at a bank to transact ...
3
votes
2answers
120 views

How do car dealerships benefit from $0 down bad credit car sales?

This might be a better fit on the economics SE, but having browsed both I feel the body of knowledge here is more applicable. For as long as I've heard car ads on the radio or TV I feel like I've ...
16
votes
9answers
2k views

Finance or pay cash for car right out of college?

I just graduated and will be starting a job in a week at a salary of $65,000. After accounting for retirement savings and taxes, I should bring home about $3,500 per month. Unfortunately, my 8 year ...
2
votes
1answer
74 views

Does paying back a parent for a car count as a 'GIFT' title transfer, or a sale title transfer?

I am trying to break free and be an independent self, and I couldn't find a similar topic like this on the Exchange. [Virginia] My parents got a Nissan Altima 2015 and I have slowly been putting ...
3
votes
1answer
186 views

Should I purchase a new car or payoff my current car first?

Background My family is growing and I find my current car (a two-door GTI) inconvenient. I am in the market for a small, used SUV such as a Tiguan, CRV, or Equinox. I will be financing and plan to ...
2
votes
1answer
70 views

Is a car owned by a trust a “commercial” vehicle?

If a car is owned by a trust, does it have to be registered as a commercial vehicle, or can it be considered a personal vehicle? Since commercial vehicles have much higher tax rates, this has tax ...
3
votes
2answers
172 views

Finance or not new car when planning to buy a house?

I have 50k in savings and need to buy a new car to go to work. Car costs around 13-16k. I can pay it directly or finance it (6k paid directly and then about 80€/month). But I am planning to buy a ...
66
votes
7answers
16k views

1 year old car is dead, called the car dealer they can fix it only if I can bring it, what should I do?

I have a new Toyota Prius (2017 model), bought between 12-13 months ago. The car recently has gone totally mad (Ironically 1 week after the service). So I arranged a booking to get it checked out, ...
5
votes
1answer
94 views

How can I argue for a higher motorcycle write-off value?

I was in an accident in June, other driver at fault. I had only liability coverage, so I've had to deal with his insurance directly. The bike was towed to a dealership and a week or so later I got a ...