Survey: U purchase? Lease? or Finance ur FRS? How long is the Term?

[Xenith]

Originally Posted by TommyFive

It's criminal what our interest rates are. Mine are 6.8% with one at 7.8% through Uncle Sam. What are you looking at?

Mine are the exact same, with a total of just under $70k.
I think it is absurd that I can get below 2% interest on a car loan, but have student loans around 7-8%.

[TommyFive]

Originally Posted by Xenith

Mine are the exact same, with a total of just under $70k.
I think it is absurd that I can get below 2% interest on a car loan, but have student loans around 7-8%.

Seriously. I can get a joe-schmo loan from my bank for 3%. I considered doing this to pay off my student loans cheaper and faster.

The high interest rates come with a wonderful benefit though: Super-low risk. Can't make a payment? Fine! Want to lower payments? That's okay! Just let us know when you can! No repossessing, no debtors calling you every night with threats (unless you fail to work it out with the loan agency). It's pretty awesome, but that interest....

[DSlayerZX]

fully finance 66 month For 3.25% from Toyota. Will refinance later.

I have better plans for my money right than paying down payments.
aka saving a bit more to pay downpayment for a house, so I don't have to pay rent, and interest on mortgage can be use as tax write off anyway.

Also, to Xenith,
you might want to reconsider on paying up the student loan first.
Since student loan interest are tax deductable as well.

[CamryDS]

5 year loan at 2.65% -- going to have this paid off in 2 1/2 years. shouldn't be too bad.

[norsamerican]

Financed about 22k low APR, will be refinancing in May with USAA to get lower rate, in prep for a home purchase.

[Braces]

This issue whether or not to pay CASH or finance really depends on your financial situation. Paying cash for the car really feels good ... if you can swing it. Nothing like owning a depreciating asset and owing zero on it. A sense of financial well-being. But ..... if you run a small business and cash flow is an issue ..... then financing or LEASING makes sense. I recently purchased another car with a large down payment and financed the remaining through PenFed at 1.49% for 5 yrs. This is cheap money. It is easy to become a member of PenFed. Just go to the website PenFed.org and follow the instructions on becoming a member. You can also refinance your current auto loan with them.

[DSlayerZX]

Originally Posted by Braces

This issue whether or not to pay CASH or finance really depends on your financial situation. Paying cash for the car really feels good ... if you can swing it. Nothing like owning a depreciating asset and owing zero on it. A sense of financial well-being. But ..... if you run a small business and cash flow is an issue ..... then financing or LEASING makes sense. I recently purchased another car with a large down payment and financed the remaining through PenFed at 1.49% for 5 yrs. This is cheap money. It is easy to become a member of PenFed. Just go to the website PenFed.org and follow the instructions on becoming a member. You can also refinance your current auto loan with them.

agree, It honestly depends on your plan your life. Paying upfront might not be the best option for everyone.