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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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 ...
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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 ...
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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 "...
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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 ...
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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?
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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 ...
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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?
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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 ...
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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 ...
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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 ...
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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. ...
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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 ...
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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 ...
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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 $...
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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 ...
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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. ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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
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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 ...
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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 ...
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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 ...
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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 ...
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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. ...
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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 ...
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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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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 $...
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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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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 ...
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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. ...
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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 ...
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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,...
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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 ...
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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 ...
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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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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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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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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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 ...