Financing

[KaliKev]

Who is typically better, Scion or Subaru?

Figuring out best way to use my money, pay cash for the Ft86/BRZ or finance it and invest.

Thoughts/ what are you planning?

Assuming the vehicle is up to our specs.

[Neutral_Eyes]

Subau's VIP is probably better, but Scion's Pure Price applies to everyone. If I buy, it'll be cash. Payments just drag me down, and you can usually get a better deal when you're offering cash.

[Laika]

Only car on the block paid cash!

[RRnold]

Of course cash is the best route but also make sure you have enough of your savings. Rule of thumb was about 3 months to cover all of your bills.

APR's can change from now until next spring so it depends but damn the rates are pretty damn good right now.

[NESW20]

depends on on what kind of interest rate you can get vs. what kind of returns on investments you can get. that said, i'll almost certainly finance, especially if they offer a 0% or 0.9% APR.

[Dave-ROR]

Originally Posted by Neutral_Eyes

Subau's VIP is probably better, but Scion's Pure Price applies to everyone. If I buy, it'll be cash. Payments just drag me down, and you can usually get a better deal when you're offering cash.

Actually you get a better deal financing through the manufacturer's financial institution because the dealer gets some of that interest so they'll lower the purchase price a bit more.

I'll likely finance, although with the current market.. I'll just make that decision when the car is being sold based on current conditions.

If I do finance it'll likely be through my CU which has better rates unless Subaru/Toyota run a financing special.

[keiri]

Originally Posted by Dave-ROR

Actually you get a better deal financing through the manufacturer's financial institution because the dealer gets some of that interest so they'll lower the purchase price a bit more.

I'll likely finance, although with the current market.. I'll just make that decision when the car is being sold based on current conditions.

If I do finance it'll likely be through my CU which has better rates unless Subaru/Toyota run a financing special.

I also plan to finance through my CU as they great rates compared to Subaru/Toyota and it'll leave more of my savings intact just in case.

This'll be my first sizable car payment for my first new car - if the FRS is worth it that is.

[tomaifauchai]

Anyone bundled a new car into a mortgage in the past? Would it be a good idea if i plan to pay the mortgage within a 10-15 years timeline?

I mean, interests on mortgages are quite low (2-3-4%) and it give the advantage to pay the car cash and negotiate it. So at the end, i might save a few grands but i'd have to pay some interests on it.

What you think about the idea ? I want a house and i also want this beast !

[keiri]

Personally, I wouldn't want to add another 20K or so into my mortgage to be financed over 10 years - I'd just finance it individually if I had to have both.

Realistically, the house is the better bet; if I were in your position no matter how much I wanted the car if I could only afford one I'd get the house.

[Giccin]

Anyone else in So Cal that wants to go in a mob and tell the subaru dealer.. "Hey Guy! All <insert large number> wants to buy the BRZ. Gief Deal. Or all <insert large number> leave."

I wonder if that works...

Aside from that.... I'd turn in my car.. + top it off with cash and pay whatever is left asap. Can't stand paying monthly and adding interest. :/

[switchlanez]

If you have cash to buy the car upfront, it could be better to make a small down payment and invest the rest in CDs or MMAs (so you have liquid cash just in case) as you pay the car off monthly. You might have to shop for the best loan APR and APYs on the CDs/MMAs and figure out how much to put down, but play the numbers right and your investment earnings can offset what you lose on the loan interest. If you find good rates, you can even end up spending less than if you were to pay cash upfront for the car! All with the assurance of having cash in the bank!

It also works out well if you happen to total your car with full coverage insurance while still making payments. Whatever you owe on the car is still safe in your bank. Insurance pays out the true market value of the car which tends to be the same or greater than what you owe. So you don't lose anymore on interest. And the money you lose due to depreciation is based on what you paid on the loan which is smaller than depreciation of the whole car if you paid for all of it upfront! (I think? ...if that makes any sense lol)

Cash is king when it is in my bank, not in my car. Paying for my car as I use it and having cash on hand while interest is offset by investments gives me more peace of mind.

[dookie11]

So a few days ago, a dealerguy at my local Hyundai emailed me about the Velosters they had in stock. He said they were selling 'em at $3000 above MSRP. I'm assuming that's cuz it's a newly released car, right?

So with Toyota/Scion's "Pure Price" thingy, are they gonna over-priced too? Or will we see them sold @ MSRP when it's released?

[Sony]

Cash, in full, up front, best way to do it no question. That's my plan, I already have the money ready.

[Slide]

I think its best to get a loan and pay off early so intrest doesn't build up.