Cars & Bikes, Driving & Riding

[dodint]

I am a guy that tends to trade in cars quickly (duh). But I always go for the longer loan term and then pay it off early. I like the flexibility of being able to manage the cash flow, and at 0% you can't really screw that up.

[DigitalGypsy66]

Honda dropped their 60 month apr to 1.9% (it’s been 2.9%) for CR-Vs until at least June 1st.

Doesn’t include the new hybrid model, naturally. I think that’s a 3.99% apr, from what I can gather without actually calling the dealership.

I’ve been watching 3-4 dealerships relatively nearby and they’ve had the same handful of hybrid models for two months. None have sold.

[Morkle]

Whatever you do don't do 0% for 84 freaking months.

I feel like that's their new ruse. Take it out for 84 months so you're crazy underwater when you want to trade it in in 3 years.

Playing devils advocate here but if you're planning on keeping it for 10 years then why not?

Because sht happens... But to each their own.

You're against it because it extends the risk until it's paid off. I get it that but was hoping to here your reasons.

The cynic in me these days, assumes that the new car won't last 10 years. Secondly, life event happens in year 5, and you have to dump the vehicle then and there, but still owe money on it, and hinders your next financial decision.

All reasons that need weighed - I just find the 0% at 84 months to be used by people who shouldn't be buying a car they can't afford at the time, as a way to buy the car they can't afford.

[Morkle]

I am a guy that tends to trade in cars quickly (duh). But I always go for the longer loan term and then pay it off early. I like the flexibility of being able to manage the cash flow, and at 0% you can't really screw that up.

So that's where I'm at. I actually did a six year loan, because it dropped my payments further, but still on track to pay it off in about 4.5 years. BUT this gives me flex if I need to, that even if I have to slow payments down, I'm still coming out under six years, based on being able to pay more now.

I didn't care to do it, but with my trade-in of the last vehicle, and buying a full size expensive ass truck, it is what it is.

[faftorial]

I just find the 0% at 84 months to be used by people who shouldn't be buying a car they can't afford at the time, as a way to buy the car they can't afford.

Agreed.

[NTP66]

Acura is offering 0.9% financing on a lot of vehicles. That's the rate I paid on mine back in 07.

[Beveridge]

Don't be afraid to go quality used either. Let some other schlub pay for the quick depreciation.

In December, I got a 2018 RAV4 with 8k miles on it for roughly 70% of a new one. Got a few other items thrown into the deal as well.

[DigitalGypsy66]

The issue I have buying used Hondas is they don't depreciate enough to make up for the higher APR for buying used vs. new.

Obviously, it's different with other manufacturers though.

[robbiestoupe]

0% 84 months may work for me as I was planning on starting up a savings account in a couple months to buy cash in a few years. I'll miss out on any interest, but I'm not going to get much anyway.

I'm also one to keep a car until it's on its last legs

[mac5155]

I just find the 0% at 84 months to be used by people who shouldn't be buying a car they can't afford at the time, as a way to buy the car they can't afford.

Agreed.

Pretty much my sentiments as well

[mac5155]

The issue I have buying used Hondas is they don't depreciate enough to make up for the higher APR for buying used vs. new.

Obviously, it's different with other manufacturers though.

My 03 Accord with like 380k+ is still worth almost $2k (somehow)

[Morkle]

Some broke teenager or college kid would easily still buy it, the market is crazy good for them.

[willeyeam]

Don't be afraid to go quality used either. Let some other schlub pay for the quick depreciation.

In December, I got a 2018 RAV4 with 8k miles on it for roughly 70% of a new one. Got a few other items thrown into the deal as well.

Yeah I went certified pre-owned and very much recommend it. I got the dealership's service loaner that was 6 months old with 4k miles on it for about 85% of the new price. The part that sold me was that the original warranty was 3 years and the CPO warranty was 3 years on top of whatever is left on the previous warranty.. so for 15% off I got an extra 2.5 years of warranty

[mac5155]

My wife's 2014 jeep cherokee got a "4wd system unavailable. Service 4wd" message on the dash tonight.

It seems that it's a transfer case (power takeoff unit) and will be several thousand to repair.

Yay me

[dodint]

Not your best week.

[mac5155]

Not by far

It's because I won a $700 raffle the firemen were doing on facebook live.

[mac5155]

In all seriousness, I hope it's an intermittent issue and I can possibly sneak it into a trade at the dealer. I'd rather not buy right now but, yeah

[faftorial]

In all seriousness, I hope it's an intermittent issue and I can possibly sneak it into a trade at the dealer. I'd rather not buy right now but, yeah

Why I don't like the idea of buying a used car.

[DigitalGypsy66]

USAA gave us a dividend credit on the last two months of our car insurance premiums. Nice.

[mac5155]

Erie claimed they were giving the refunds on the premium renewals. Mine is up in July, so I guess I'll see then.

[faftorial]

Didn't see this posted anywhere.

Some dealers are refusing to take back leased cars unless you lease a new one.

Pablo de Miranda, a software engineer San Jose, Calif., said the lease on his BMW expires later this month and he was told a free one-month lease extension was his only option when he spoke by phone last month to a BMW dealership employee. Miranda said he asked if BMW would reimburse him for car registration and insurance, typical costs associated with a lease extension.

The dealership employee "said BMW has nothing to do with the registration and insurance,’’ recalled Miranda, 38. “I told her in this case I didn’t want an extension. She replied to me: 'Do you know we are in a pandemic? You should be less selfish and think about what’s going on in the country!' ”

https://www.usatoday.com/story/money/20 ... UP66e33b6g

[NTP66]

lol, unfortunately for them, there’s a signed contact stating otherwise.

[Morkle]

sounds Like a nice check.

[mac5155]

Any Telluride owners on the board?

[faftorial]