Is it a bad idea for me to buy this car?

[dnieves]

Originally Posted by Dadhawk

The Nissan Loan Officer sold you a bill of goods so he could make more money off of you. Car dealerships make more profit off loans than they do the car, he just came up with a better story than most.

You "lost" the money to depreciation just by purchasing a new car, it doesn't matter whether you paid cash for it up-front or made payments.

You also aren't factoring in risk. A paid-for car (or anything) is no financial risk to you. One with a payment is. If you had driven off the lot with the car with a loan and lost your job the next week, you are stuck. If you've paid for the car, you can now sell it, even if at a "loss" and be done with it, and have the money to cover your gap. Or you can drive the car without having to worry about "losing it" back to the bank.

Just a different point of view.

Finance managers at banks drool when they hear: I need to finance, I'm trading in, and I'm not putting much down.

[Mooseknuckle44]

I guess all the guys here who like the traditional way of doing loans just refuse to look at the flip side of the loan capability.
No real reason to change how you do it. I've been doing it my way for years, thru 4 vehicles, and l still have a beacon nearing 800. Gotta be something about it that works, right?


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[Dadhawk]

Originally Posted by Mooseknuckle44

How did the dealership make more money off of us? ...

You financed a higher amount, so they made more money on flipping your loan (remember, the dealership doesn't carry the paper). In addition, if you had to have gap insurance because you didn't put down enough, then they also made money off of that portion.

Bottom line is any product (a loan, including "zero interest" loans, gap insurance, extended warranties, etc) all have some level of profit margin built into them. The dealer makes the least amount of total money on a car purchased for cash without all the add-ons.

I should clarify, I'm perfectly OK with a dealer making a profit, that's what they are in the business to do. You just need recognize that anything the dealer offers you has some level of profit, and therefore additional cost to the consumer, associated with it. They might give up some of the margin to close the deal, but very deals end up with the dealer really losing money.

[Dadhawk]

Originally Posted by Mooseknuckle44

I guess all the guys here who like the traditional way of doing loans just refuse to look at the flip side of the loan capability.
No real reason to change how you do it. I've been doing it my way for years, thru 4 vehicles, and l still have a beacon nearing 800. Gotta be something about it that works, right?

Sure, what it means is you have a great history of servicing debt, that is what a high beacon score means.

If you pay off all your debt, close all your accounts, your score will be zero in about 12 months. The score has everything to do with how much debt you have and nothing to do with how financially responsible you are.

You could have $50M in the bank, but because you don't borrow money the score would be zero.

[ZionsWrath]

Originally Posted by Dadhawk

Sure, what it means is you have a great history of servicing debt, that is what a high beacon score means.

If you pay off all your debt, close all your accounts, your score will be zero in about 12 months. The score has everything to do with how much debt you have and nothing to do with how financially responsible you are.

You could have $50M in the bank, but because you don't borrow money the score would be zero.

Exactly. Credit scores don't mean how good you are at handling finances. It just means how good you are at making payments. That is why someone who finances things and pays them on time will have a higher score than someone who buys everything cash.

[SubieNubie]

Originally Posted by Mooseknuckle44

I guess all the guys here who like the traditional way of doing loans just refuse to look at the flip side of the loan capability.
No real reason to change how you do it. I've been doing it my way for years, thru 4 vehicles, and l still have a beacon nearing 800. Gotta be something about it that works, right?


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There is no flip side. Your not getting the car any cheaper than someone who does it the "traditional" way. This thought of getting over on the system is just completely false. But hey, if it works in your mind, go ahead. Its your money, not mine.

[paiceyfan]

I have had the BRZ for six months now and zero issues...absolutely love it.

Before that I had a 2007 Civic SI Sedan for 6 1/2 years.

Having had no issues with the BRZ, it is hard to say what the ultimate quality will be somewhere down the line, but I see that Subaru engines are typically very robust and Subaru owners around me all have good things to say.

The Civic was a great family car with the added bonus of putting a smile on my face back and forth to work.

The BRZ is too small for family and is strictly a two-seater in my opinion with just enough space for the groceries.

If you have the money already and are just asking about reliability, I think you will be fine. The build quality is not quite up there with the Civic, but it is fine.

Good luck and enjoy whatever choice you make...they are both great cars.

[irocz0r]

Well, I took the plunge.

[Natheria]

oooh! Shiny!

Looks good man!

[Drive]

Congrats!

[Harvey]

Originally Posted by irocz0r

Well, I took the plunge.

Sure looks good. Mine is black too. Funny I just noticed my 2013 model has the exhaust stick further out (they extend the bumper by 4 or 5 cm), whereas on this pic they seem recessed. Is this a 2015 change? If so I find it looks a little better like it was before (could see them better)...

[paiceyfan]

Congratulations...you made the right choice for you and that is what matters!

I nearly got the black...love the look, but trying to keep it clean is what concerned me, but then again I wash my WRB every week anyway, so maybe I should have got the black

[ClifraJones]

Originally Posted by Mooseknuckle44

Housing market must not be too good? I'm in a 2900 sq ft, 3 car garage in a cul de sac for $135K??? But l have heard the COL is low out there. They gotta lure em in with something. It damn sure aint the weather. Lol.
No offense OP.


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Your in north Georgia! Houses here are way below national average. Primarily because they are built like shit! I moved here from Florida and was shocked at the absolute lack of quality assurances and adherence to building codes.

Now that I am moving back to Florida I have to buy a much smaller house for the same money.

Ok, back on topic, sorry for the rant.

[ClifraJones]

Originally Posted by Mooseknuckle44

Lol. Keyword-Bay Area.
I guess l should've mentioned l'm n crapass Ga.
Albeit a nice-ish part of Ga. Still Ga. I hate it here. So damned miserable. ESPECIALLY the weather.


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Haha, sorry bro. Didn't see this. Yeah, I hate it here too. I'm so glad I talked my company in to letting me return to Florida.