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

1
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1answer
158 views

Are vehicle history reports truly reliable? [closed]

Are services like Faxvin, CarFax, etc. valuable in finding past problems in used vehicles? I found a pickup truck at Enterprise Car Sales I like, but leery of spending my money at rental company ...
0
votes
1answer
44 views

Leasing a car on a personal lease vs withdrawing LTD funds to buy it for cash?

Every book, radio show or podcast for people wanting to become/stay wealthy would advise against leasing a car. I agree a car itself is an expensive toy and lease even adds to this equation, but... ...
30
votes
11answers
10k views

Is it a good time to replace my used car?

We have a 2005 Chevy Impala with 105,000 miles that we purchased in 2011. We have made many repairs such as replacing the transmission, repairing the radiator, heating and AC system, thermostat, belt,...
0
votes
3answers
165 views

2015 bmw 328i - Sell or keep it? Advice needed

I have bought a new 2015 bmw 328 in Sep 2014 for 46k on road price(Includes Tire maintenance package). BMW's 4 years free maintenance ended this month and here on wards I need to pay for service and ...
2
votes
1answer
178 views

Is it financially risky to buy new car made in UK considering Brexit? [closed]

I live in an East-European EU country and I am considering buying a new Toyota Auris. These are made in the UK and Toyota has no plans to relocate. That makes me nervous because after Brexit, I may ...
0
votes
1answer
21 views

Car TCO Computation how it's being computed

TCO From the picture posted above, I'm trying to figure out how the TCO is being computed. The efficiency is the MPG, for which I believe is a hybrid car. 14275 / 56 = 254.9107142857142857 14275 / ...
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vote
7answers
471 views

Buying a brand new luxury car

I read this and this questions - although not all of the answers. My question is fairly similar to the first linked question although I have different circumstances. Context I am a 29-year old ...
0
votes
2answers
239 views

How much can I save if I don't own a car? A worked example comparing car to pension

I don't drive and I've never enjoyed driving. Moreover my eyesight is very poor and I fear I may be a danger on the road. However, some 'friends' and family don't get this, so I want to show a ...
5
votes
2answers
2k views

What's the deal between the bank and the dealer when you finance your car loan with your bank?

I'm an absolute beginner to car loans, and I was wondering what's going on between the financing agencies and the dealers when I finance my car loan. (My questions are about car financing in the US.) ...
0
votes
2answers
85 views

primary loan holder [duplicate]

My husband thought that he was co-signing for his son's car. It turns out that they made my husband the primary loan holder but the dealership only put his son's name on the title. His son is now ...
2
votes
1answer
153 views

Repair vs Replace a car [duplicate]

I bought a used Honda Accord in 2010 for $17k+ tax and fees. It has 59,102 miles and is paid off. Kelly Blue Book says that it's worth $6-7k. A new car such as a 2015 Accord will cost about $16k +...
85
votes
18answers
68k views

By 18 years of age, I want a brand new car that's $43,668

I'm from Arizona and I will be 18 in 4 months. I make about $1,200 a month from my job. I have $600 in my bank account and I don't plan to spend any of it until I'm 18. I'm looking to get a ...
1
vote
2answers
213 views

Optimal age to sell a used car? [closed]

I have a car. I would like to sell this car and purchase a different used car. Let's assume I am in no rush at to make the purchase+sale (purchase of my next vehicle, and sale of my current vehicle). ...
53
votes
5answers
16k views

Am I right to believe this online car-purchase opportunity is a scam?

I was looking to purchase a specific car at autoscout24.com. I found it and I then contacted the car dealer for the next steps. After they provided additional information about the car and I provided ...
0
votes
1answer
72 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
73 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
252 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
159 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
452 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
96 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
44 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
338 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
243 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 ...
3
votes
3answers
1k 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 ...
1
vote
1answer
130 views

Are there typically penalties for trading in a lease on a new car before the lease contract ends?

We're about 13 months into a 39 month lease. Our payoff is about $40,000. We are looking at trying to get into something that will lower our payments a bit, and so checked a local dealer to see what ...
0
votes
2answers
76 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
258 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
153 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
320 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
296 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
117 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
187 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
175 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
264 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
104 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
204 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
1k 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
212 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
165 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
97 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
227 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
249 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
136 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
145 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
2k 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
68 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
353 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
153 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 ...