Smith-02

buying a new car is a joke. theyre only there to make profit for the company and the dealership makes wealthy employees. even with decent sales i saved 4300 outside of the rest i saved to buy my rodeo outright. no interest, no bank profit, rates raise, and the dealership makes more.


also doc, you replied while i was replying. look nig, if you put money down, you only save when you SELL AFTER A FEW YEARS. learn to read.

if you put money down you pay LESS per month but you STILL accumulate interest on each payment. for every 1000 financed at the national average rate of 6.9% for new car buyers, it's going to be approx $20 per 1000, on 60 month. see the ------- simple math? 6 years is $18@1000, 4 years is 24. you make less payments, you pay less interest. you make down payments, you pay less interest.

Dr.Boost

Dude, you make no ------- sense. Are you high? You still pay interest on a loan no matter how much you put down. YOU PAY LESS IN INTEREST WHEN YOU PUT MORE DOWN AND YOUR MONTHLY PAYMENTS ARE CHEAPER, THEREFOR YOU SAVE.


WTF are you even trying to say? Are you agreeing with me at this point or not?


WHAT ARE YOU TRYING TO SAY??
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Smith-02

DOMESTICS have a naturally LOWER interest rate because they flood the ------- market with cars, lowering their value and needing to push VOLUME to make any sort of recouperation from the cost of making millions of taurus's a year.

if you were QUOTED 10% then use 10%, stop pulling numbers for bad credit scores into a figurative intenet arguement for an average loan.

honda/toyota/nissan will average a few dollars MORE per $1000 financed because they do not have 0.0% interest that ***** the banks, like domestics do. over supply, demand lessens. do you at all understand where this leads? you must sell VOLUME FOR PROFIT. it's not a bmw 7 series that costs $1000 more per car to tool over a 5 series, yets sells for how many thousands of dollars profit higher for bmw.




show me where i said 'down payments make you pay more'.

interest doesnt magically lower itself over time. if it did, it would state on the buyers order the tiers of interest rates per year, month, whatever.

you can't tell me domestics don't have more of year end model clearances than imports do. simple reason, and i've stated it several times.




alright, more replies from you.

car cost = it's a 15k car. you're still paying for the car, you just pay the BANK when you finance. the ---- random hero said about 'needing a downpayment' or whatever is the dealership taking pocket cash.



look. if you put down 5000, on a 20k car, you have paid 5000 on a car in the first month, plus an additional ~$300 every month after. 3 years is the average someone keeps a car.
36mos (3 years) x $300/mo = 10800. you add the $5k dp you made, you just paid $15800 for a car in 3 years.

lets say, no down payment, and you trade it in after 3 years.
36mos (3 years) x $400/mo = $14400.





back to hot coffee and cold pizza time.

scottsi

im confused, who is right.

Smith-02

right on what?

you're half asian, half redneck. not only do you have an std, you also have a small *****

Dr.Boost

Dude, NOBODY is talking about domestics, imports, go-karts or anything. Why do you bring that up? We're talking about ONE SIMPLE CAR LOAN. NOTHING ELSE. One interest rate, one one principal balance. The argument is that a down payment(ON THE SAME VEHICLE, SAME ORIGINAL LOAN AMOUNT, SAME EVERYTHING EXCEPT THE DOWN PAYMENT) won't save you any money. Ok, no more talk about different models of cars. That has absolutely NOTHING to do with this.

You said putting more money down WILL NOT save you any money. I disagree. That is what we're talking about here. Ok?

No ----, I never said the original cost of the car was going to be any different. Where did you get that from?


Ok, that actually made sense. Yes, if you buy a car and trade it in within 3 years you're going to lose your ***. You forgot to factor in the fact that you will be paying $100 LESS for 3 years of that loan which saves you $3600 in that 3 years. You also forgot to factor in the fact that the principal balance at the end of that term is going to be WAY lower when you put $5000 down and pay on it for 3 years.

$20,000 loan after 3 years of payments puts your principal balance at $8860 and you have paid $425/month for 3 years so you paid a total of $15,300.

$20,000 loan with $5000 down after 3 years of payments puts your principal balance at $6645 and you have paid $319/month for 3 years so you paid a total of $11,484 + your original down payment of $5000 for a total of $16,484.

So after 3 years you paid $1184 more and your principal balance came out to be $2215 LOWER after 3 years so you saved $1031 at the 3 year mark EVEN AFTER FACTORING IN THE $5000 DOWN PAYMENT.

So even if you trade your car in after 3 years(which is going to cost you alot more money) you're still better off putting down more money.

You can't possibly argue with THE SIMPLE FACTS.
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Random Hero

Doc boost is right complex, your dumb.

I'm putting the downpayment on it to keep my payments under 400 a month, and i will be saving an extra 3500..

and the money i'm putting down is going to make my loan less.

Truck is 27,900 and i'm trying to put down 3K, making what i have to get a loan for 3k cheaper, so if i ever sell the truck and its not paid off, thats that much i get back in my pocket because i dont have to pay 3k more towards the loan, i think you have to be the dumbest salesmen i've ever heard of.

Random Hero

on a 20k loan, then you would only owe 4200 instead of 9200, so you get more back, did you even pass any basic math classes?

Dr.Boost

You know those car salesman, can't trust them any farther than you can throw them. :P

I think he's forgetting to factor in the principal balance which is what it comes down to.

More downpayment=Lower monthly payment, lower total interest paid, lower principal balance

Less downpayment=Higher monethl payment, higher total interest paid, higher principal balance

If you keep the vehicle for 4 years of that 5 year loan you're going to see a HUGE savings. I'd do the math, but I'm ------- tired and it's time for bed. :P
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J-SMITH69

complex thinks everyone trades their car back in after 3 years in which if you don't put a downpayment on you will save money...