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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0
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1answer
81 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 ...
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2answers
107 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 $...
0
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1answer
93 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 ...
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0answers
93 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 ...
37
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8answers
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. ...
2
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2answers
172 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 ...
0
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1answer
123 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,...
12
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7answers
14k 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 ...
3
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1answer
124 views

I am an IL resident and will move to MA next month. I need to buy a new car in IL for the moving. How do I pay lower sales tax?

I am current living in Illinois and will move to Massachusetts next month. I already have a valid lease with MA address but my driver license is still the IL one. My IL sales tax is 8.25% and MA sales ...
0
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1answer
114 views

What is the typical (not chip-shortage-induced-supply-reduction) depreciation curve of a passenger vehicle? [duplicate]

I'd like to know how much of an out-of-the-ordinary increase in value I am getting for an offer on my car. To do so I'd like to know how much my car has depreciated in the timeframe since I bought it (...
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3answers
162 views

How does the process of buying a customized new car on the brand's website work?

Interested in buying a brand new car (in the US) for the first time, I went browsing through the websites of car companies to check prices and customization features. In that process, I noticed that ...
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1answer
73 views

Do I need a bill of sale along with title?

Long story short, I just bought a car from a private seller in New York. I have the title and he has filled out the information necessary. Do I need to provide the bill of sale as well when I go to ...
13
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8answers
3k views

What's the best way to quickly get a car on low budget with a poor credit score?

I am starting a new position somewhere that I'll absolutely need a car, so I have to buy one. But I have a poor credit score, so the best APR rate I can receive is about 18%. That means financing a ...
3
votes
2answers
188 views

What paperwork do I need to sell a car for $30k cash in New Jersey and deposit the proceeds into my bank account?

I am selling my car to an individual who wishes to purchase the car from me for 30k in cash. I asked for a check instead but they stated they only have cash. What sort of paperwork would I need to ...
34
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13answers
13k views

Should I spend 3/4 of my savings to buy a new car that costs about a year of my annual salary?

Since I still live with my parents I've been saving money for a while. All these savings amount to around 15 months of my current salary. Now I need a car. Cars are pretty expensive. I don't want to ...
26
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7answers
10k views

Dealer is pressuring me to return the leased car and lease another car

I leased an SUV for 3 years, 36K miles, and the lease is due in a month and I only used 10k miles. The car is "full-option" and the buyout price is visible in the portal where I make the ...
33
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7answers
5k views

How to sell a car to a private party on payments

I am selling an old car for US$2500. A stranger offered to buy it at my asking price, but the stranger wanted to know if I would accept (installment) payments. This sounds like a very bad idea, so I ...
4
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3answers
84 views

Investment instrument for investing money saved for a used car

I have saved money which I plan on using to purchase a used car in the coming years. The amount saved is the purchase price for a used car right now in April 2021 and I would like to make sure that I ...
0
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0answers
99 views

Vehicle Trade-In

An ex-girlfriend and I took out a car together. After breaking up, she decided to trade in the car and get a new one. The dealership sent me a Power of Attorney form to fill out to have our car used ...
23
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12answers
12k views

How can I finance a car at 17 years old with no credit or co-signer?

I just turned 17 on March 17th. I will be graduating high school next year. However, I'm looking to purchase my first car or least drop a down payment of $20,000 on a new 2021 cla Mercedes Benz on my ...
28
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5answers
8k views

Can a used car dealership switch the price I saw online vs going in and getting a different price?

I’m looking to purchase a used vehicle today and when I finally found one I called the used car dealership to see if it was available. I showed up to the test drive, without even asking for the price (...
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1answer
185 views

Charged sales tax when removing deceased person from title

I purchased a vehicle with my grandma on the title. It was listed as “my name & grandmas name, last name” on the title. My grandma passed away. I refinanced my car (for a lower interest rate) and ...
9
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4answers
4k views

If I pay off a lien on a car, do I own that vehicle?

My boyfriend and I have been together for 13 years. He has been separated from his wife for 20 years. He has a lien on his car, and he did not will it to anyone. If I pay the lien, do I own it?
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1answer
109 views

Am I entitled to get my car deposit back?

I recently put down a $1000 deposit on a vehicle that is at a dealership out of state. The vehicle that I put the deposit down on is “in transit” and is not technically on the lot. It’s been two ...
0
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1answer
130 views

A car dealer filed an 8300 form with the IRS after I made a large cash down payment on a car. Do I need to do anything about it?

I made a $10,000 cash down payment for car I bought 2 weeks ago. The dealer send me copy of form 8300 they filled for that transaction. What happened next? *Mod Note: Form 8300 is a form to "...
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0answers
36 views

is it easier to rent a car with a secured credit card over a debit card?

I've been denied car rentals using debit cards in the past, even with thousands of dollars on the card. I'm going to Hawaii as well as Tennessee this year, and will need a car. Would my odds increase ...
0
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1answer
73 views

Car Insurance cover for travelling to work

Does anyone know if travelling to work used to be included in Social Domestic and Pleasure car insurance please.
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2answers
229 views

Can I afford to buy a used car?

I will be 18 in 2 weeks and I need a new car before I start college (in about 6 months). I make around $1200 a month right now and I have $1050 saved. After I start college I will have to get a new ...
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8answers
436 views

First car out of college

I am graduating college soon with a job lined up making 100K a year at an area with relatively low cost of living. I am fortunate enough to have no debt whatsoever (thanks mom and dad!). I am ...
2
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1answer
232 views

In the United States, what is the cheapest legal way to get rid of a wrecked car?

My wreck of a car might get towed away, and is posing other financial risks to me. What is the cheapest legal way to get rid of the car? Further details: I took out a loan in order to buy a car, and ...
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3answers
459 views

Are there any advantages to PCP car deals beyond a low monthly payment - even though you don't own the car?

Up to now I've bought every car I've owned outright. Due to changes in my family situation I need a bigger car. I'm looking at a used (albeit low mileage) car which is priced at £11,300. I could sell ...
5
votes
3answers
474 views

Auto Insurance in Michigan: What is the need for liability covereage?

I live in Michigan. Recently, state law changed such that we have "no-fault" auto insurance. We still must hold liability of $50,000 per person, $100,000 per accident. Since we are in a &...
2
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1answer
134 views

How to negotiate a lease when residual values on used cars are so high?

Negotiating a fair lease payment is usually boiled down to considering the depreciation value and finance charge - which involves the capitalized cost, residual value, and money factor. In the past, ...
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1answer
216 views

My mother in law is trying to take a car that is under my name. What can I do?

So I went half on a down payment with my child's grandmother. I’ve been making the payments. I told her we can meet in a public place and she went crazy saying that she co-signed for the car, which ...
2
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2answers
136 views

When buying a used car, and getting an auto-loan, need the down-payment be in paper bills?

Consider the following Scenario: you are buying a used car in the United States you get an auto-loan through a used car-dealer. Do large national car dealerships in the United States require the ...
1
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2answers
75 views

What advice do you have for a first-time used car buyer in terms of paperwork and/or legal documents?

My question is about the basic legalities of buying a car in the United States, not anywhere else in the world. I have never bought a car before in my life. I was looking at some used cars for sale on ...
1
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0answers
47 views

What data is available to estimate cost of ownership and reliability for potential car purchases

I am currently shopping for a used vehicle. I am hoping to spend between $10,000 and $16,000 CAD and looking for something that will be reliable and low cost. My current vehicle is a 2009 Mazda 3. ...
0
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0answers
53 views

Using multiple credit cards for a single payment in the UK (section 75 protection)

How can someone buy a product which is over each of its credit card limits, but less than his total credit? Suppose that I want to buy a car, which is £4500, and suppose that I have three credit cards ...
4
votes
2answers
405 views

Chances of 23 y/o getting approved for a £10k credit card to buy a car?

So my old car has had its time and I'm looking to buy a 3-4 year old car for around £9-10k. I have personal savings exceeding this amount so buying in cash is an option, however I have recently ...
6
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2answers
258 views

Car insurance gas station mix-up fuels -- gas station made the mistake

We rented a car with Hertz and we filled up our tank with petrol and later on that day our car broke down. The road side assistance people told us the next day that we put diesel instead of petrol in ...
1
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2answers
403 views

I’m a co-signer who wants out of auto loan with ex

I am no longer in a relationship with my ex. I co-signed for a 2015 Chevy Silverado in 2018. I have text messages and emails asking him to refinance, he is refusing. If I get a small claims attorney ...
3
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2answers
349 views

Questions about financing a car at 19

I’m a 19 year old student and have been trying to get through college without a car. However, as more time passes I realize that it would be extremely beneficial to me to have a car as my school is ...
26
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5answers
9k views

I just paid off my car - should I release my Credit Union's lien on the car?

We just came upon a windfall significant enough to pay off our car loan - so I did. My Credit Union just sent me a letter describing the way in which I can remove them from the lien. From the letter:...
4
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2answers
240 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
362 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 ...
1
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2answers
617 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
127 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
votes
1answer
85 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
103 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
96 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 ...

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