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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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0answers
40 views

Calculate the deposit on a loan when the monthly payment, interest rate, and balloon are known

I am looking into PCP finance for a car and I have found estimates where I enter a term and a deposit, and am given a monthly payment for the loan. Some sites (BMW for example) will let you enter a ...
1
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1answer
198 views

Car payment getting paid but not taken out of bank account

I notice that my car payment hasn’t been taken out and, and saw that someone or something took out $33 from my savings. This meant I didn’t have the funds to pay my car payment anymore. Then saw ...
1
vote
1answer
70 views

In California, how should I report the $1500 income from the BAR CAP vehicle retirement program?

The California Bureau of Automotive Repair (BAR) runs Consumer Assistance Program (CAP) for vehicle retirement. In a nutshell, if you have an old car that fails a smog check but still runs, you can ...
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3answers
233 views

Is it feasible Buying a Bike when I already own a car

I am already financing a car (Honda Accord- $18k) paying $309/month and insurance $113/month. I am single, my office is near by and I feel that this car is little big for me for now. I wish to buy a ...
2
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3answers
329 views

My ex husband put me as a co signer on his car loan and I didn't know anything about it. What can I do? [closed]

My ex husband put my name on his car loan as the co signer without me knowing. What can I do?
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2answers
120 views

Used Car Purchase

I am planning to buy a used car from a dealer. The bank requires copy of title for loan approval. But the dealer refuses to share it (as per their protocol) until the vehicle is purchased. Is there a ...
1
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0answers
284 views

Form 8936 for 2018- Qualified Plug-in Electric Drive Motor Vehicle Credit

I have been looking for form 8936 for 2018 in order to file my tax returns but have been able to find only the one for 2017 as below. https://www.irs.gov/forms-pubs/about-form-8936 Is there an ...
2
votes
1answer
265 views

Are there legitimate reasons to cover part of the vehicle identification number (VIN) that is visible through the windshield?

A friend of mine, living in USA, went to check on a car being sold by an individual. He told me that the vehicle owner had covered part of the VIN that would have otherwise been visible through the ...
1
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1answer
60 views

Pay off loan or roll over

I owe $10,000 on my existing car loan. I currently have enough to pay off my loan and still have enough to put down $5000 on a new car. My question is this, is it better to pay off the loan first and ...
3
votes
2answers
152 views

Car title ownership

My boyfriend and I just bought a pick up. We both signed a loan from the bank but he was the only one who signed the paperwork from car dealership. Does it mean that my name is not in the car title ...
58
votes
6answers
12k views

Why does Geico ask me not to reveal the limits of my liability coverage in case of a car accident?

I read on my "Evidence of Liability Insurance card" issued by Geico in California, US: What to do at the time of an accident: […] Do not reveal the limits of your liability coverage to anyone. Why ...
4
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1answer
235 views

Where can I find the median new auto price? [closed]

I hear from time to time about the "average" price of a new car in the United States, and how it is absurdly high. I presume this has something to do with how four people buying a $13k car and one ...
1
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1answer
140 views

Car is under my girlfriends name, can i refinance it?

Last year i needed to buy a car, but my credit was bad atm, so my girlfriend at the time let me use her credit to buy it. Now almost 2 years later i have to buy a diferent car so i can take out of the ...
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1answer
59 views

Deductible automobile expenses for ridesharing business

Most people here will disagree with the premise of the question, so try to disregard that (and that I know this is likely a very bad idea). I'm considering buying a (new) car that I can't afford (...
0
votes
1answer
72 views

Understanding auto insurance policy bills

I really have a hard time understanding my auto insurance bill/policy. In my case, it's AAA. For example, for 2017 I get the following policy for my car: Now, on Dec 12 I add another car to my policy....
3
votes
3answers
183 views

How to know how much money was paid, and how much was spent paying off interest

I would like to buy a car, and found out about the 20/4/10 rule today. I definitely have more than 20% downpayment saved up, due to that I am not concerned with the 20 part. I am more concerned about ...
1
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2answers
174 views

How should I go about getting my next car?

A few months ago I bought my first ever financed car (I'm 19). It's the only credit history I have as of now. I bought a 2015 Chevy Spark with a 28% front loaded interest rate. So, regardless of ...
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2answers
154 views

Would it be more beneficial to pay my car loan off first in this situation?

Okay here is my situation. I have a vehicle I'm currently interested in. It's around 42k. My vehicle that I own is worth around 28k KBB. I only owe around $5600 on it. I have the money to go and ...
1
vote
1answer
363 views

Car possession being threatened by Co-signer

I'm in a bit of a sticky/confusing situation and I am unsure of what my options are. My fiancé has a car that was financed through Ally bank. His father, who I'll refer to as John, co-signed for the ...
1
vote
3answers
284 views

Weekly upkeep fund for cars, quantification thereof

My colleague in the states has the typical suburban collection of three cars in their family household a fairly new used car (a few yrs old; no factory warranty left) 2x $5000 range used cars after ...
1
vote
1answer
44 views

Buying a used car out-of-state with differing trade-in tax policies

I currently live in a state that doesn't allow a trade-in tax credit and I am considering buying a used car that resides in a state that does. I will probably trade in my car as part of the purchase, ...
3
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4answers
341 views

What is the best payment plan for buying a vehicle?

I recently started my first job after college/ (Polytechnic? translated from the Swedish word "Yrkeshögskola"). I have worked as a system developer since August where I had my praxis twice before ...
1
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1answer
171 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
58 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... ...
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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,...
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3answers
185 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
198 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 ...
-1
votes
1answer
27 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
547 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
244 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
3k 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.) ...
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2answers
94 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
168 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 +...
84
votes
18answers
71k 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
331 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). ...
54
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
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1answer
82 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
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1answer
75 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 ...
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vote
3answers
430 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
177 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
509 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
308 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
45 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
426 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 ...
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3answers
249 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 ...
4
votes
5answers
2k 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
138 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
86 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
279 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
62 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 ...