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  #25  
Old 12-16-2010, 07:44 PM
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Re: Financing rates?

I just joined Navy Federal Credit Union and got a pre-authorized draft at 1.99% for 60 months. I just have to pray that my WK2 won't site in "Storage" too long before the rates change.
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  #26  
Old 12-16-2010, 08:04 PM
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Re: Financing rates?

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Originally Posted by IndyBob View Post
Nice if you can do it but most of us don't have $40K plus in a coffee can that we can do that.

I got 2.73% at my local credit union.



Sorry if you take offense to this, but really, do you need a brand new car if you can't afford to pay cash for it? Financing a car is one of the worst things you can do financially to yourself. I know it's nice to have the latest and greatest things, but you honestly don't need them. Save yourself $40K and buy the WK. No point in paying $1000+/year interest on a car that drops in value every mile you drive...
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  #27  
Old 12-16-2010, 08:10 PM
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Re: Financing rates?

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Originally Posted by kyle.jg View Post
Sorry if you take offense to this, but really, do you need a brand new car if you can't afford to pay cash for it? Financing a car is one of the worst things you can do financially to yourself. I know it's nice to have the latest and greatest things, but you honestly don't need them. Save yourself $40K and buy the WK. No point in paying $1000+/year interest on a car that drops in value every mile you drive...
Its only the "worst thing you can do financially to yourself..." if you can't afford the payment. There is nothhing wrong with financing as long as the payment doesnt over extend your input. In addition, you might be able to get a better return on the 40k if invested elsewhere vs paying upfront in cash.

Financing if you can't afford it is really one of the wost things you could do.
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  #28  
Old 12-16-2010, 08:23 PM
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Re: Financing rates?

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Originally Posted by Mashie View Post
Its only the "worst thing you can do financially to yourself..." if you can't afford the payment. There is nothhing wrong with financing as long as the payment doesnt over extend your input. In addition, you might be able to get a better return on the 40k if invested elsewhere vs paying upfront in cash.

Financing if you can't afford it is really one of the wost things you could do.
You're arguement only holds water if you have 40K available to buy the car, but are actually investing it at a better return than the interest rate on your loan. That probably doesn't apply to most young people buying a new car. It is definitely harder to save if you have interest payments every month eatting away at a big part of your pay check. I wish my parents had taught me that. Being debt free is one of the big things I will try to teach my children. You become rich by being frugal/cheap, so you can save up enough to invest further.
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  #29  
Old 12-16-2010, 08:58 PM
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Re: Financing rates?

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Originally Posted by rdalcanto View Post
You're arguement only holds water if you have 40K available to buy the car, but are actually investing it at a better return than the interest rate on your loan. That probably doesn't apply to most young people buying a new car. It is definitely harder to save if you have interest payments every month eatting away at a big part of your pay check. I wish my parents had taught me that. Being debt free is one of the big things I will try to teach my children. You become rich by being frugal/cheap, so you can save up enough to invest further.
oh I agree with you 100% and the basis for my argument is definately that if you have 40k where is the best way to use it. Espeically since the option presented here was to pay cash or finance. My assumption was that if you are paying cash then you have 40k
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  #30  
Old 12-16-2010, 10:01 PM
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Re: Financing rates?

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Originally Posted by Nickoland View Post
the USA economy would be much better if people bought what they could afford now, not later.
I have my doubts that this assumption is actually true.
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  #31  
Old 12-16-2010, 10:08 PM
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Re: Financing rates?

Banks broke the economy in 2008, loans pay them, investments pay you. Buy my wj for nearly 10k and stop funding terrorists. This is a good thread.
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  #32  
Old 12-17-2010, 12:40 AM
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Re: Financing rates?

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Originally Posted by Nickoland View Post
Banks broke the economy in 2008, loans pay them, investments pay you. Buy my wj for nearly 10k and stop funding terrorists. This is a good thread.
Banks don't only collect interest, they also hand out money. If an individual is in debt, he/she probably spent some money before. What many people forget is that this money also paid vages or went into a different business. Sure, it's better NOT to be in debt but you have to rember the consequences of a "cash-only" society. I highly doubt our living-standard would be any higher as it is today.

Imagine a car-industry without credit: A desaster for our economy. Sure, the money you borrow increases the bank's profit - but it's also the money that goes into the economy.

If you save the money, the bank gambles with your savings.

This country is build on spending - and credit is a huge part of it - cut it out and everything collapses. That's how it was, is and will always be.

Bt anyway, I don't want to hijack this thread with my boring economical views..
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  #33  
Old 12-17-2010, 07:31 AM
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Re: Financing rates?

WTF happened to this thread? Stop w/ the politics please. All I wanted to know was what other people were getting for rates since I thought the one I was offered was high.

Thanks.
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  #34  
Old 12-17-2010, 09:57 AM
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Re: Financing rates?

I got 3.01% through BOA for 60 months
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  #35  
Old 12-17-2010, 10:18 AM
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Re: Financing rates?

Chrysler mailed, and I received a $1500 lease/purchase loyalty certificate, vaild through Jan.3. To be used toward the lease or purchase of any of the 2011 Jeep product line. Plus, Jeep is waiving the lease security deposit. And my dealer will sell at Invoice, minus the $1300 dealer holdback, including any and all available incentives. That said, the dealer is still making a profit (anywhere between 2% and 4%). The math is simple.
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  #36  
Old 12-17-2010, 07:54 PM
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Re: Financing rates?

2.64 at 60 months here

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