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You could sell the car yourself, and get financing from a bank. Then its only price (fixed), and addons.
by syrrim 4y ago
You could sell the car yourself, and get financing from a bank. Then its only price (fixed), and addons.
- kube-system 4y agoI've found (in the US at least) that automaker financing on new vehicles is usually better than any other banks. I'm now wishing I put zero down on my last car, because it's looking like my loan is way cheaper than inflation is going to be over the life of the loan.
- hansvm 4y agoLast time I thought financing might be a good idea, the dealership asked who I banked with, applied for a loan in my name without my permission, and presented it to me +0.5% extra profit for them. They were just going to insert themselves as an intermediary.
- kube-system 4y agoHard to do that with automaker financing when the rates are listed directly on their website.
- pnutjam 4y agoI had financing lined up and the dealer still blasted an app out to a dozen different companies and dinged my credit.
- Dylan16807 4y ago> I'm now wishing I put zero down on my last car, because it's looking like my loan is way cheaper than inflation is going to be over the life of the loan. Would you have invested that money in something that is currently growing at least as fast as inflation?
- kube-system 4y agoYeah, I have about the same invested in I-bonds at the moment as I have outstanding on my car note. But either way, the rate on the car note is lower than inflation, so I'd be ahead just by spending the cash on something else.
- bluGill 4y agoThe automaker financing is often subsidies. In the past you could choose a rebate or their low interest financing, if you ran the math the rebate was basically the difference between the interest rate they offer and what a little more than what a fair market value interest rate would be. I seems the rebate option as disappeared though, so financing is probably your only option to get these rates. Of course in the end if you have options you need to run your own numbers. Things change far too often to give general advice.
- kube-system 4y agoRight, the automakers' finance divisions make money by selling cars, not loans. If you can get a loan under the prime rate, it's definitely subsidized.
- taneq 4y agoIf you're going that far you might as well buy privately and avoid their shenanigans altogether.