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Buying Brand "New" From Dealership As INVESTMENT


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Up until 18 months ago it had been nearly 20 years since I  just caught the "Year-End" clearance sale at a "Dealership"...

 

Now my CREDIT being in the "$h!Ter" at that point I hadda put nearly 7k "DOWN" just for "Financing"..

 

That was at "BRUTAL" 11.75" APRY streched out for 60 months...

 

By making "over-payments" for a year I was able to use that to qualify for 2 credit cards and just started buying Groceries and Gasoline and "PAID" in-full basically cut em a check as soon as it hit the MAILBOX...

 

Ive now got a 680 "Credit Score" refinanced and cut my Interest Rate in HALF.

 

Better yet if I keep "over-paying" every month as I did at double the interest in less than 3 years its PAID in full and I got another year maybe 18 months before the Standard Factory Warranty "expires" 

 

So I can still drive it around another year or so WITHOUT any PAYMENTS. 

 

 

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35 minutes ago, Karl Childers said:

Up until 18 months ago it had been nearly 20 years since I  just caught the "Year-End" clearance sale at a "Dealership"...

 

Now my CREDIT being in the "$h!Ter" at that point I hadda put nearly 7k "DOWN" just for "Financing"..

 

That was at "BRUTAL" 11.75" APRY streched out for 60 months...

 

By making "over-payments" for a year I was able to use that to qualify for 2 credit cards and just started buying Groceries and Gasoline and "PAID" in-full basically cut em a check as soon as it hit the MAILBOX...

 

Ive now got a 680 "Credit Score" refinanced and cut my Interest Rate in HALF.

 

Better yet if I keep "over-paying" every month as I did at double the interest in less than 3 years its PAID in full and I got another year maybe 18 months before the Standard Factory Warranty "expires" 

 

So I can still drive it around another year or so WITHOUT any PAYMENTS. 

 

 

Okay the "Investment" part...

 

For the last 15 years Ive been driving "JUNKERS"...

 

Ya well ya gotta keep FIXING Em too..

 

Mabee the Motor n Tranny are good but she needs Brakes and Struts...

 

As soon as ya get that done its the Radiator...

 

And NEXT its something ya cant even do yourself like a SENSOR or something ..

 

After that its TIRES ...

 

Then its INJECTORS...

 

At my age  SCREW that...

 

I dont wanna be spending my "precious" OFF TIME jacked up on in the Driveway on blocks the middle of January 

 

"Brand" NEW ya COVERED and get a LOANER

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Shade tree mechanics never do the job right. I have bought new since the early seventies. If you are rigorous with the maintenance schedule all will be well. I am driving a 2007 Chev. Cavalier with 95,000 miles and only had one problem in the very beginning. There was a problem with the injectors after about 3000 miles and GM replaced the entire system under the warranty. No problems since. I just follow the maintenance that is listed in the original owners manual. 

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47 minutes ago, XavierOnassis said:

It has been 40 years since I made my last car payment. It is not hard to find a decent car with under 25K miles at 3/4 of the new price or less. You can buy a warranty as well.

 

 

 

Not in my area...

 

The difference between 2/3 years old and 10/20k "USED" for similar is about 2 or 3 k...even tried shopping "online"

 

For 2/3 grand difference ya can catch the YEAR END with all the discounts and rebates get "BRAND NEW"..

 

In many cases the USED was "MORE" than BRAND NEW

 

 

 

 

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The only new car(s) I've ever purchased have been for my wife. She's never asked for, nor expected them, yet for some reason I do it anyway. Her present car is a 16" Audi Q7 S Line. I traded in her other car I bought new for it - and she's made sure I don't buy new again. Get back to the "let someone else drive it off the lot new and instantly lose 10k theory". We pay cash for cars, but she's right - and admittedly she doesn't like hearing me bitch about the cost of "her" cars. Sometimes I gotta just shut the phuck up. The one redeeming factor is they're always warrantied - yet we've never had to use the warranties.....go figure.

 

Credit is a necessary evil. Decades ago when I was young and thought I knew it all - I had low credit. I've been 800+ for years now, but it takes awareness and dedication. These days it also takes the "right" credit mix to get above 750, and it took me a long time to accept that I actually had to use credit cards to gain credit. Being raised that - other than a house - if you can't pay cash for it you can't afford it - I'm often at odds with how the "system" works. The past couple of cars, I've paid full price minus $500......and then get a 36 month loan on the $500. I know, pretty stupid - but that's the credit rating game.

 

Anyway - glad you're getting your credit restored and are out from under that absurd interest rate. That kind of Bad word is like a debtors prison....

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