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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2
votes
1answer
416 views

My cosigner mistakingly signed as the buyer

Me and my fiancee went car shopping. She found something she liked, suitable for her, but we needed a cosigner. We tried everyone to no avail until we were able to reach my cousin who agreed to cosign....
2
votes
1answer
2k views

Primary account holder on car loan dies, Does co-signer get the car

My son passed away and his girl friend is the co-signer on his car loan. Does she get his car? My Son has made all the payment on the car loan. There is a balance of 5000 dollars; I am willing to ...
5
votes
3answers
704 views

Is it common for a new car of about $16k to be worth only $4-6k after three years?

This question made me wonder how, according to the OP of that question, a car that cost about $16,000 can be worth only $4,000–$6,000 after a mere three years. Does a new car usually depreciate ...
3
votes
1answer
794 views

I have made all the payments on a car I cosigned. Do I have to fight for possession of the vehicle?

I cosigned on a vehicle for my ex, yet he has made no payments. I have made all the payments so far even though he has always had possession of the car. I will continue to pay if he gives me the car, ...
42
votes
6answers
10k views

Can a car company refuse to give me a copy of my contract or balance details?

I have an auto loan with a car company that after looking at all possible amortizations, doesn't match what my payment should be. I'm talking with 40% interest rates, adjustable interest rates, ...
0
votes
1answer
93 views

What options do I have when trading in lease with equity?

We leased a 2014 Honda Odyssey Touring-Elite in the U.S., and will be maturing our lease with right at the agreed mileage (36,000). We signed our lease with an estimated residual value of $23,000 -- ...
1
vote
2answers
195 views

Does it make sense to refinance my car to a longer loan term?

I want to refinance to drop my $350/mo something payment and $80/mo interest down. This is a 6 year loan now at 4 years. Assuming my credit is more decent then what it was when I took out the loan, ...
9
votes
1answer
970 views

What is the 'real' monthly cost of a car?

I'm doing some financing for our future (my wife and I), and we want to purchase a used car - we'll be getting a loan, but along with the monthly payments we'll be making, we want to know what the '...
8
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2answers
3k views

I can't produce a title for a vehicle I just traded

I went to a Ford dealership and traded in a slightly older truck for a slightly newer one, and financed the rest. The next day, my fiancée informed me that the title of the old truck is still on a ...
1
vote
1answer
77 views

Tax deductions on car and/or home?

I just purchased a car and am in the process of closing out a home purchase (which I hope to complete by end of Feb 2017). Are there any tax deductions on the purchase of a car or home? I looked ...
31
votes
6answers
5k views

Auto premium increasing with aging vehicle and no new tickets

I have just received a new auto insurance bill for the next six months for my comprehensive insurance. It is about 8% higher than the previous six months whereas I have had no new moving infractions ...
1
vote
0answers
78 views

Can a cosigner take my car? [duplicate]

Last year I purchased a car with a cosigner. I've made all payments on said car. Now that his sister inlaw and I are broken up he has taken the car. He's made no payments and has hidden the car from ...
4
votes
1answer
305 views

Rejecting a second hand car from a dealer under UK Consumer Rights Act

I have just bought a second hand car from a second hand car dealer. Paid the full amount with direct debit. UK based. The car developed a fault (check engine light which wasn't present when viewing ...
8
votes
2answers
5k views

Get car loan w/ part time job as student with no credit, no-cosigner but no expenses

This is the only place where I knew to turn for a question like this. I am a student (if that will make me look better to the loan officers), but I'm fairly certain I have no credit. I took out a ...
3
votes
1answer
3k views

Moving out of state, and car is under parents' names

So I'm currently living in New York, but will be relocating to Atlanta next month for a job. I will be taking the car my parents bought me; it is titled under their names, as is the insurance. What I ...
2
votes
3answers
165 views

What's the most economical way of owning a car for a few months?

I'm trying to find a way to own a car for 2-3 months and do it as economically as possible, specifically a sports or luxury car that I don't necessarily want to outright buy and own. The two options ...
4
votes
1answer
325 views

What value do I declare on the title transfer if I make an even trade?

I am considering trading a car to my friend in exchange for some livestock (of similar value). The car is worth $9000, and the livestock is worth closer to $11,000. What do I put in the sale price on ...
6
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3answers
5k views

Dealership made me the secondary owner to my own car

January of 2016 I bought a car from wilett honda south which is located in Georgia, with the help of my ex boyfriend. It was my very first car and I didn't really have much help besides a co signer ...
1
vote
3answers
807 views

Will a judge remove my ex-wife's name from the title?

I have a car that has both my name and my ex-wife's name on the title. Will a judge remove her name if she hasn't paid anything on the car? I paid all of the payments, but she's asking me to give ...
0
votes
1answer
4k views

How to offer financing to customers (Used Car Dealership)? [closed]

I'm starting a used car dealership and I would like to offer financing option as a form of payment to my customers (Lately many potentials buyers ask for such). I have few concerns that I need to ...
20
votes
3answers
2k views

What is the tax liability on the sale of a classic car?

We have a rare classic car, bought new in 1969, for around 5K. We've recently (partially) restored the car, spending around 5K. Because of the rarity of the car, we expect it to sell for over 200K. ...
2
votes
1answer
241 views

Get rid of car lease in an emergency situation

One of my friends leased a car 5 months ago from Acura with a 36 month lease. She has a emergency situation and she might have to go back home (North Africa) in 2-3 months. Apart from using Swapalease ...
0
votes
1answer
183 views

Selling a Car or Keeping It

I currently have a 5-year-old car which has been paid-off and maintenance has been relatively cheap. However, I will not be needing it soon. My brother will learn how to drive in 1.5 years. Currently,...
18
votes
3answers
17k views

Leased a car but did not use the mileage - what options do I have

Background: About three years ago I was victim of carjacking. My car (Honda) which I owned got totaled and after a month of working with insurance I got a equivalent value of my car from insurance ...
1
vote
1answer
339 views

Payed off a vehicle and my ex has posession yet never payed me to sign off on title what can i do [duplicate]

Payed off a 2003 gmc Yukon in july, low and behold a month later my girlfriend of 2 1/2 years leaves me for another woman. took the vehicle that I have invested approximately 10,000$ between repairs ...
9
votes
3answers
2k views

Is it a right decision to pull money from emergency fund to buy a liability but need?

I have an emergency fund and some money saved to buy a car which is my need. The newer versions of the car can be bought if I pull a major portion of the money from my emergency fund. My job would ...
3
votes
2answers
620 views

How can I tell if this internet sales manager is telling me the real “true cost” of a new car to the dealer

NOTE: To make this question more generic, I've replaced the real make and model with placeholders and fudged some of the numbers. I've gotten in contact with an internet sales manager about a new car....
2
votes
3answers
222 views

Car loan with a student loan

I am trying to buy a new car. However, I have a $3,500 subsidized student loan. I've had it for about a year and haven't made any payments on it. Will this affect me getting a car loan? Will it be ...
35
votes
6answers
8k views

Electric car lease or buy?

I know the conventional wisdom for leasing vs. buying, but are the economics of an electric car significantly different than other vehicles?
1
vote
3answers
1k views

Is it irresponsible for me to lease a $300/month car for 18 months?

Here's my financial situation. My net worth not including student loan debt is about 4.5k. I make 95k a year but end up getting about 4k a month (after retirement saving, health insurance, etc). My ...
3
votes
1answer
414 views

Car value is almost equal to GMFV with still 2 years to go on PCP

I’m half way through a 4 year PCP agreement with Mercedes Benz Finance (the car’s value was 27500 when I signed the PCP) that guarantees the future minimum value of £12125. My circumstances have ...
5
votes
2answers
799 views

I have paid $7000 extra of my mortgage in 6 months. Should I transfer this to my $11,000 car loan or is it better of the home loan?

My car loan is 6.49% but it costs $12 a month for every month you pay it off early. It is a 60 month loan, I have been on it for 6 months and have paid off $2500 (From $14 000 to $11-500. My ...
2
votes
2answers
247 views

Car finance, APR rates and per week in adverts; help understanding them

Looking at a car advert [for a car I was considering buying in April 2008] but in the end I didn't - this was what the advert stated: 2005 TOYOTA COROLLA 1.4 VVTi 5 door hatchback £7195 From £38 ...
3
votes
1answer
340 views

Co-Buyer Automobile

As a co-buyer on an automobile, can the other party take full possession? Both parties names are listed as the Purchaser's. Only one purchaser signed the retail order for the motor vehicle, and if so, ...
2
votes
1answer
213 views

For a car loan, how much should I get preapproved for?

I live in the United States and am looking to purchase my first car. After doing some research, I've learned that I should get preapproved for a car loan. The question is, how much should I apply ...
15
votes
3answers
10k views

Why are auto leases stubbornly strict about visa status and how to work around that?

I live in Washington state and want to lease a car from Subaru. I work for Microsoft, have decent income and good credit score (~718). I'm in US for a bit more that 1 year on an H-1B visa and I'm in a ...
1
vote
1answer
331 views

Two joint auto loans vs two separated loans

Me and my wife are going to buy two cars, our options can be: Each of us can get a separated loan for each car. We can get two joint loans, this way we have two (shared) loans on our credit history ...
0
votes
1answer
243 views

Help stuck in a bad first time loan!

Last year I got an 05 Chevy Silverado for 16k at a high rate can't recall what it is now. I'll check when I find the paper but I think it's over 10 percent. I was in a bad spot when I got into the ...
-1
votes
1answer
155 views

Recent College grad in need of car

I am a recent college grad with a salary around 48k/yr at a very stable job. When I began college my father leased a 2013 Hyundai Sonata for me with a 208/monthly payment. My lease is about to be up ...
3
votes
1answer
328 views

Slow destruction on co-signed property

I co-signed a car loan for my ex-girlfriend, the loan was for $13,500 with payments set at $300 plus $100 for insurance. To make a long story short, she was hard on the car (broken windshield/rearview ...
1
vote
2answers
308 views

Is it financially advantageous and safe to rent out my personal car?

Recently, I have found a job in Downtown Montreal, Canada. I also live in downtown and my new job is a couple of blocks away from my apartment. Hence, it's getting expensive to keep my car. I have to ...
5
votes
2answers
4k views

Buy car vs lease vs long term rent for 10 years period

After reading a few questions about renting vs buying an house and seeing how many people strongly support renting, I'm wondering if the same applies to renting vs buying a car. Suppose: I don't ...
31
votes
5answers
13k views

Why are cars so expensive on Craigslist?

I was helping a friend to buy a cheap car in good condition in California (less than 100k miles for less than $8000) and we looked into Craigslist for cars, since we thought that Craigslist was ...
2
votes
2answers
342 views

Transfer car loan for better interest rate

I just recently bought a car from a dealership with financing. At the time of purchase I was a temp-to-hire working in IT. About a week later I got a raise doubling my income. I just graduated college ...
1
vote
2answers
613 views

What is the risk involved in buying a used car vs new?

A depreciation chart tells us that buying a two year old vehicle will save us a heavy cost of depreciation. However, if I keep the vehicle for 10+ years this initial cost averages down a good deal. ...
1
vote
3answers
390 views

Car financed at 24.90% — what can I do?

The car dealer told me the car worth $3900.00, I am paying him $279.17 for 19 months. That's $5304.23. Am I getting ripped off? If so, is there any way to fix it?
1
vote
2answers
161 views

End-of-season car sales?

I heard one can get a better deal on a new car at the end of the season (i.e., calendar year) before the next year's model arrive. What kind of reduction percentagewise can one expect in such sales?
0
votes
2answers
331 views

A little advice please…car loan related

I have a car loan out that is $10,000. It's actually a personal loan at 10% interest rate. The vehicle is about 10 years old and has 135,000 miles. The KBB value is around $4,000. It's having ...
3
votes
8answers
2k views

Buy tires and keep car for 12-36 months, or replace car now? [closed]

I have a car that was purchased in 2010 for around 20k, it now (2016) needs new tires but im going to replace it in 12 to 36 months time. The current resale price is around 8K and the replacement of ...
3
votes
1answer
449 views

DMV lists me as having the title of a 1972 Dodge that I have never had

I moved back to Florida last year after moving out of the state back in 1995. Since my birthday is coming soon I logged into the Florida DMV to check about renewing my license plates (I have ...