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The Car thread

boogenman

boogenman

Turbo Monkey
Nov 3, 2004
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maxyedor said:
If it's super low interest, why not do the long ass loan terms? Some of the used car loans I see are dumb, and rolling debt from one car to the next is dumb, but a new car at 0-1.5% for whatever period you plan to keep the thing makes some sense, to me anyway. Especially on trucks that retain value reasonably well.
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I have not seen a long ass loan below 5.9% since last June.
 
maxyedor

maxyedor

<b>TOOL PRO</b>
Oct 20, 2005
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boogenman said:
I have not seen a long ass loan below 5.9% since last June.
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I suppose they're not super long term loans, but apparently it's truck month around here and everybody has .9% for 60. Galpin (the big dealer around here) was advertising 1.2 for 72. Then again places like CarMax are in the 6s for used cars, that are already hilariously overpriced, that's where I see a lot of people getting themselves into trouble.

Only 1 Lariat in stock, dodged an expensive bullet for now...
 
Jeremy R

Jeremy R

<b>x</b>
Nov 15, 2001
9,698
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behind you with a snap pop
It is fairly amazing that so many people out there are willing to pay $66000 for a truck on a 72 month loan at 6% interest.
They are paying $12,754 in interest over the loan. Imagine doing that and then not really using the truck as a truck. Most don't. :homer:
 
sunringlerider

sunringlerider

Turbo Monkey
Oct 30, 2006
3,659
6,466
Corn Fields of Indiana
Jeremy R said:
It is fairly amazing that so many people out there are willing to pay $66000 for a truck on a 72 month loan at 6% interest.
They are paying $12,754 in interest over the loan. Imagine doing that and then not really using the truck as a truck. Most don't. :homer:
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I think we’ve discussed similar to this in the past. But 90+% of trucks sold are oversold. How many dudes driving around in the lariat f250 really need that truck, I would say most do not.
 
E

ebarker9

Monkey
Oct 2, 2007
850
243
maxyedor said:
If it's super low interest, why not do the long ass loan terms? Some of the used car loans I see are dumb, and rolling debt from one car to the next is dumb, but a new car at 0-1.5% for whatever period you plan to keep the thing makes some sense, to me anyway. Especially on trucks that retain value reasonably well.
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I didn't do a long ass term loan, but I put more or less zero money down on my last car purchase. The sales guy kept trying to convince me that it made sense to put more money down to "lower my monthly payments". I'd gladly pay the 1% or whatever to keep an extra $10k/$20k/etc in hand.
 
jimmydean

jimmydean

The Official Meat of Ridemonkey
Sep 10, 2001
41,281
13,396
Portland, OR
sunringlerider said:
I think we’ve discussed similar to this in the past. But 90+% of trucks sold are oversold. How many dudes driving around in the lariat f250 really need that truck, I would say most do not.
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My '08 Silverado was $7k and works for my needs. It's not lifted because it's hard enough to load the quad now. :rofl:

I would have a Tacoma or similar but I can fit both the moto and quad in the bed of the Silverado and not need a trailer and I get about the same mpg.
 
boogenman

boogenman

Turbo Monkey
Nov 3, 2004
4,317
991
BUFFALO
ebarker9 said:
I didn't do a long ass term loan, but I put more or less zero money down on my last car purchase. The sales guy kept trying to convince me that it made sense to put more money down to "lower my monthly payments". I'd gladly pay the 1% or whatever to keep an extra $10k/$20k/etc in hand.
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Your sales person and/or the manager and finance manager are just retarded, most of them are. If you are not taking advantage of a subsidized loan with the manufacturer the dealer will make more money in reserve from the lender based on the amount financed.
 
Jozz

Jozz

Joe Dalton
Apr 18, 2002
5,894
7,440
SADL
boogenman said:
Your sales person and/or the manager and finance manager are just retarded, most of them are. If you are not taking advantage of a subsidized loan with the manufacturer the dealer will make more money in reserve from the lender based on the amount financed.
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Indeed. They are highly disappointed when you buy a car cash in hand.
 
dump

dump

Turbo Monkey
Oct 12, 2001
8,235
4,496
All this talk of financing perpetually. What happened to buying what you can afford and owning it outright? That’s more my style.
 
Jozz

Jozz

Joe Dalton
Apr 18, 2002
5,894
7,440
SADL
dump said:
All this talk of financing perpetually. What happened to buying what you can afford and owning it outright? That’s more my style.
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When you can finance a mountain bike for 24 months, you know something's not right. Aside the stupid price of bikes of course.
 
Jm_

Jm_

sled dog's bollocks
Jan 14, 2002
19,024
9,683
AK
kidwoo said:
fun fact: historical blizzards then wet snow and rain will in fact bottom out the rear suspension with what fills up the bed on a base model 2008 tacoma with roll up windows
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Which means it wont ride like a brick the 98% of the time, when the bed isnt filled.
 
maxyedor

maxyedor

<b>TOOL PRO</b>
Oct 20, 2005
5,496
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kidwoo said:
fun fact: historical blizzards then wet snow and rain will in fact bottom out the rear suspension with what fills up the bed on a base model 2008 tacoma with roll up windows
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What won't bottom out the suspension of a Tacoma?

The nice thing is that once you bottom it out, the load capacity becomes infinite, unless you bend the axle, then maybe back it off a tad.

dump said:
All this talk of financing perpetually. What happened to buying what you can afford and owning it outright? That’s more my style.
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If somebody wants to finance a car for me for free/cheap and let me put the cash I otherwise would have spent on the car into pretty much any investment you can name and make significantly more than any interest I'm paying, why would I not?
 
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