[Buzz]

Since there are so many of us in line to spend upwards of $75000 for the most part, it might be interesting to see what kind of deals are out there and the % of cash purchases compared to financing, and if there are any inducements for one or the other.

 

[mjw930]

The biggest inducement for me was 1.74% financing with PenFed on a payment saver loan. I rarely keep cars more then 3 years so the lower payments are great and residual is well below what it should be worth in 36 months so I'll build some equity as well. Current investments netting almost 10% so using someone elses money was a no brainer.

 

[glen e]

The biggest inducement for me was 1.74% financing with PenFed on a payment saver loan. I rarely keep cars more then 3 years so the lower payments are great and residual is well below what it should be worth in 36 months so I'll build some equity as well. Current investments netting almost 10% so using someone elses money was a no brainer.

Pen fed payment saver here as well.....

 

[regguy1]

Pen Fed here also, why sell investments paying a higher rate than the low loan rate?
I didn't take the payment saver, just the basic 1.99%

 

[TwoDoggs]

For me it was a trade plus cash to get about 50% equity. I used Houston Federal Credit Union at 1.99% for the balance.

 

[Sciros]

I'll be leasing through a credit union, 48 months at 10000 miles/year. Figures to be an "affordable" monthly payment.

 

[smajicek]

Cash, cash is king, no monthly payments, no interest payments, just gas expenses and fun driving it.

 

[urrtoast]

Cash, no monthly payments, no interest payments, just gas expenses and fun driving it.

x2 same But its a cheque If I ever get it.

 

[Rsmith]

It'll depend on the markets and the state of my investments along with what auto loan rates are like, but I plan to pay at least 50% in cash if not more.

 

[55tireman]

Good question, but beware, I tend to over-analyze!

Stocks and bonds aside, as those investments will go up and down over the next 5 years. But the Market certainly lost a "round" today. But should be much better than 2% per year, we would all hope!!

But then, I Retired early and keep cash parked too, so if I look at cash, it's almost a push. With 5 year CD's barely at 2% and the loan rate at Penn Fed at 1.99%. Makes no real difference...so with idle cash sitting, I prefer to have it in the garage where I can see it, touch it and wash it!

BUT...Last thing to consider for most is the fact if the cash is spent, it's gone. Can't go back and get a $75K loan on a then used Corvette! But then if you sold stock to buy your Corvette and the market takes a hit, you can smile anyway for your little peace of heaven that you bought with the money the market didn't get to cheat you out of!!

SO....think I'll sell stock and pay cash or just use the cash and pay cash...I think...

 

[luky7]

Sold my 07 and used savings to pay cash,,never dreamed it would be such a challenge to spend that kinda money , local dealer tried there hardest to get me one at a fair price but ended up outa town buying ,, still best money ever spent !

 

[Woody]

I've been saving for a year or so, and with the sale of my 07, I'll be paying cash when the new one arrives.

 

[TNSQUIRE]

1.99% @ credit union


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[JS1977]

My best friends call me CASH...

 

[dhomoney]

1.99 loan for me.


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[rdslon01]

My thoughts were to pay with a credit card, then pay off the credit card at the end of the month. In that way, I would get some cash back from the card. But Mark and Glen give some very compelling ideas which deserve further consideration.

 

[Milliwatt Rob]

I plan on using money that my recently deceased uncle left to me in his will, when that money finally arrives.

The way I view it, my uncle left me a new Corvette in his will.

 

[docjb]

Cash, no discount, and no trade in. Ouch.

 

[Mobius]

My thoughts were to pay with a credit card, then pay off the credit card at the end of the month. In that way, I would get some cash back from the card. But Mark and Glen give some very compelling ideas which deserve further consideration.

Funny you mention that, since I decided to use an AMEX for the deposit as well as a portion of the purchase. That particular card gives 2% back on all purchases, which was a bit over $100 in this case. The rest was financed through PenFed at 1.99%.

Although I could have paid cash for the C7, why bother when the money can sit in Muni bonds earning tax exempt interest that is effectively over twice the loan's interest rate.

 

[grilloz]

Cash


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