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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3
votes
3answers
321 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
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1answer
226 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 ...
2
votes
2answers
157 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
3k 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
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1answer
89 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
223 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
92 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
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2answers
207 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 ...
68
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7answers
17k 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
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1answer
114 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 ...
4
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4answers
518 views

I’m a minor, will mom's bad credit score stop me from buying used car?

I really just need opinions. I want to put a $1,500 down payment on a $10,000 used car and able to pay the monthly payment. Since I’m a minor and will be under my mom's name and she has a bad credit ...
-1
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1answer
226 views

Will I be turned down for a car loan?

To make a long story short I was working at the same place since I was 18 the past 3 years, and left on good terms two months ago and now I'm self employed. I'm making much more now than I was at my ...
1
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1answer
2k views

Name first on car loan can you also be the cosigner [closed]

If a name is first on a car loan does that mean he is the primary and not a cosigner. OR can you be first on car loan and still be the cosigner
4
votes
1answer
203 views

Car loan and removing my ex from the loan?

My ex and I bought a car a couple of years ago and we have not been together now for over a year and half. I have the car and I make all the payments and now that I want to refinance and buy another ...
2
votes
4answers
388 views

How to build up credit fast?

I live in the United States, am around 22 years of age, and recently graduated college with around $12,000 in student loans. I have had a full time job for around 4 months that pays around $55,000 a ...
4
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2answers
178 views

Could Paying Off Car Loans Early be Bad For Credit?

I am 22, I have had a couple of car loans that were both supposed to be 5 year loans. The first loan I started in November of 2015. I ended up paying off the loan in 9 months. After I paid it off, I ...
3
votes
5answers
2k views

New car: buy with cash or 0% financing

Here's my current dilemma: should I buy the new car I'm looking at with cash or have 0% financing for 72 months? For reference, here is some info about me: I am currently living at home. My plan is ...
2
votes
1answer
121 views

Is a credit card deposit a normal part of the vehicle purchase process

I'm looking to buy a new car. I made an offer over email to several dealerships, and an agent from one of them told me that he can make it an official offer and present it to his boss if I give him my ...
8
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2answers
2k views

Is it better to trade a car in and save on taxes or sell a car to a private party?

So my mother has a 2012 Toyota, and she is not really into it. She is short and it has poor visibility. I want to get her a 2014 Subaru or CRV but I'm trying to figure out what the best approach is. ...
16
votes
3answers
2k views

Why do new car loans, used car loans, and refinanced loans have different rates and terms?

If I want to refinance a car that is two years old, and getting a new car loan is better APR then a used car loan and even a refinanced loan, why does it matter which way you go? Isn't a loan just a ...
4
votes
2answers
2k views

How does the amount of down payment of a car affect loans/interest?

My credit rating is poor but I'm looking at a car that is around 27,000. If I have a large down payment (40%) to put towards the purchase of the car would I still get approved for a loan for the ...
44
votes
7answers
27k views

How to pay with cash when car shopping?

I am planning to buy a car with cash this weekend - first time car shopping on my own! I've found a decent used car and scheduled a test drive with a dealership, hoping to make a purchase. They've ...
1
vote
0answers
69 views

Transfer of NY Automobile Title without Co-owner Present/Available

I bought a car in the city of NY with my ex boyfriend. At the time of purchase I did not have a driver license so the registration came under his name and the loan under my name. I have been ...
1
vote
1answer
439 views

In CA, Old car registration/smog is Due, Can I sell the car?

In CA, Old car registration/smog check due at end of September, can I sell/trade-in end of August without paying? Do I have to tell the dealer/private party about this.
1
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0answers
96 views

Costs for swapping car lease

I'm considering an auto lease swap, for which the online sites (swapalease, leasetrader) have info on the number of months remaining and cost per month etc. However, after some research I realized ...
12
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1answer
710 views

Car was stolen and recovered, is now evidence in an investigation and I still have to pay even though I don't have access to it

What happened: 2 months ago my then girlfriend (now wife) was carjacked at gunpoint. The car was found the next before 48 hours in another town, in circumstances that merit the police to take my car ...
1
vote
1answer
4k views

Can I pay a loan under someone else's name? (assume the dispenser of the loan is malicious)

I bought a car last year (well, my dad bought it), and the loan (for the full amount) was dispensed under his name by Toyota Financial Services (TFS). Anyway, TFS allows you to create an account as ...
2
votes
2answers
221 views

Getting a loan/lease to non-investment (like buy a car) work in young ages (Salary is also too low)?

Note : Please forgive me for my bad English and feel free to anyone to correct mistakes. Background : I am working as a Software Engineer is Sri Lanka. My monthly salary is about $400 and may ...
3
votes
2answers
362 views

Optimal down payment amount

I need to buy a car; this is a necessity, my current one is on its last legs. I have enough cash on hand to comfortably pay for any car that I would consider purchasing. However, there is value in ...
0
votes
2answers
176 views

Outstanding car bill, and I am primary but have not driven it for 2 years

I got a 2013 Dodge Avenger with an ex that I am not with anymore. She has the car and is 2nd on the car. She did register the car in her name but has a $1100.00 bill that came to me. What can I do? I ...
4
votes
1answer
504 views

Is there a risk buying a used car via a proxy if I pay the actual owner?

I'm thinking to buy a second-hand car. Everything seems to be in order except one thing: the actual owner (X) is out of the country, and the car is being sold by his relative (Y). I will be paying by ...
56
votes
8answers
14k views

Do rental car agencies sell their cars at a time when it is risky for the purchaser?

I want to buy a used car, but found many used cars were formerly owned by rental car agencies. Many websites and articles warn against buying former rental cars, because people renting these cars ...
0
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1answer
151 views

Car loan out of my name

I bought a car with my father consigning for me. I have been separated from my husband for 18 years. I'm getting the divorce currently and I found out my husband can possibly get the car. Since my dad ...
4
votes
0answers
3k views

NY State Sales Tax on Lease Transfer

I am hopeful that someone can help me understand New York State (NYS) Sales Tax with regards to a lease take over, in what seems to be paying tax twice. So here is the scenario: Person A leases a ...
4
votes
1answer
500 views

Car Insurance: Driving Experience from Another Country

The background: I am from Lithuania originally. I got my driving license there and been driving for 5 years. I then moved to the United Kingdom. First thing I did is changed my Lithuanian driving ...
21
votes
9answers
7k views

Should I pay off my car loan within the year?

I saw another question like this, but I am in a bit of a different situation. I am 19 years old, in college, and have no credit history. I saved up enough money to buy a car, but decided to get a ...
0
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1answer
175 views

Loan Prepayment

I will be applying for a car loan shortly, and trying to evaluate various lender schemes. I was not really sure when its mentioned as No Pre-Payment Penalty or Foreclosure Charges Let say I have ...
-1
votes
1answer
91 views

Do new automobiles typically release in low numbers?

I'm looking at the 2018 Honda Odyssey. The car released 2 days ago. I called around and discovered local dealers only have ~10 2018's total for all trims. One local dealer initially listed a vehicle ...
1
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2answers
197 views

Can I get a car (with a loan in my name) back?

My boyfriend doesn't have good credit. He's going to drive & pay the insurance, so I sold the car to him by paper, we didn't sign transfer of money ever. The credit is under my name. He's paying ...
0
votes
2answers
108 views

Car finance (loan) insurance requirements (store car)

There are current attractive incentives on new car purchase such as 48 months at zero interest and some advertised discount and perks in addition. My question has to do with mandatory insurance on ...
36
votes
8answers
8k views

Infrequent car rental vs. lease/buy

I live in a large city and do not currently own a car. I use public transportation, ZipCar, Uber, and a bike to get everywhere I need within the city. For bigger trips outside the city, I have been ...
3
votes
1answer
132 views

What maintenance/improvement costs can be included when calculating capital gain on sale of personal property?

If I do restoration work on a car or a boat and later sell it, then there is a potentially capital gains tax liability if I sell it for more than I bought it for. I assume I can deduct money I spend ...
4
votes
2answers
1k views

How to save the most money paying off a 20% interest car loan in 1-2 years?

Long story short: My girlfriend has a 20.53% APR car loan. No one will refinance the loan because of the value of the car, roughly $5,000. Theres still 50 months left on the loan. Total left with ...
9
votes
4answers
5k views

Does the number of owners for a luxury car affect its value?

I'm looking to buy a very nice yet still inexpensive car, a 2007-08 Porsche Cayman. I've seem many listing at reasonable prices, but am worried about one thing. Certain cars are listed as "1 Owner", ...
2
votes
2answers
8k views

How do I remove one or more names from the title on my car in California

I am trying to remove my sister's name from my car which currently has my name and her's on the title. I can't seem to find information on this at the dmv website apart from Notice of Transfer and ...
1
vote
3answers
6k views

How do I refinance a car loan into someone else's name so it can be their car?

I have a car in my name and want to get it refinanced in someone else name so it can be their car and they can take over the payment what is the best place to start
4
votes
1answer
196 views

Car repair tax deductible?

I live in California and I have a rental house in Washington State. I claim the rental as income and have been paying taxes on it. Last year, I drove from California to Washington State to check on my ...
-1
votes
1answer
79 views

How do I pay off a car in my fathers and my name to get the credit?

if my father is the primary signer on my car and I want to pay off the loan as the primary signer, How do I do that?
2
votes
2answers
205 views

Car Cost Relative To Income

Is there a best practice or general rule when buying a new car (can be new as in new to the person - so a used car is new to the person) relative to one's income? In the past, I've tried to make sure ...
5
votes
1answer
344 views

How do you get insurance for your first car?

I'm buying my first car soon, and I don't currently have any insurance - I'm an independent adult not covered by any parental umbrella insurance, and I need to cover my wife with my insurance as well. ...