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

[ShowTime_DW]

How you guys get the FRS? I Finance it for 6 years which I think I will try to get a better rate next year and pay extra in order to own it soon.

[dem00n]

One check.

I was always told to never buy anything unless i can pay it up front right there, right now.

[strat61caster]

http://www.ft86club.com/forums/showthread.php?t=29418

Finance, leasing only makes sense if you're going to get rid of it in a year or two anyway. In my opinion why pay for it if you don't own it? 6 year term, should be paid off in about a year and a half if I budget properly.

[kanundrum]

5 Year Jumbo CD APR 1.85%
Auto Loan 1.49%

Make your Money work for you.

[jwc1971]

I wrote a check for the full amount. I've never financed a car. No car payments for me.

[Dustin]

Financed for 6 years through the dealership at 3.5% APR and got a $500 discount. Waiting 3 months as required to get the $500 discount before refinancing through my bank at 2.5% for the remaining term.

Hope to have it paid off in 4 years. My house will be paid off in 3 and then when I add that payment to my normal car payment I should have it paid off within that year.

Then I will have 1 year left on my truck and I will be debt free!!!!

[fistpoint]

Originally Posted by dem00n

One check.

I was always told to never buy anything unless i can pay it up front right there, right now.

Two checks for me: one deposit, one to finish it off.

[#87]

Seems like compared to you guys I'm living life on the edge YOLO style with my 5 year finance

[Purdue FR-S]

Yeah...

I'm not so sure how wise it is to simply write it off as "only pay cash for cars"

Especially when you can get a low rate. You'd be better off investing it for the 5 years instead of spending it on the car.

I got a 5 year loan with 3% rate.

[Boblhead]

5 year 2.89% interest. I wish i had the money to just pay cash, but as a younger guy i figure its better to get my credit built up

[FreshFRS]

I financed for 2 years after a large down payment, have enough to pay it out but would rather use the payments to maintain and build up my credit rating.

[FirestormFRS]

Make payments. Money is so cheap to borrow now it's ridiculous.

[IntotheOcean]

Originally Posted by FreshFRS

I financed for 2 years after a large down payment, have enough to pay it out but would rather use the payments to maintain and build up my credit rating.

This is what i plan on doing as well

Am I the only one who read that paying off loans early actually hurts your credit score?
.....

[Zaku]

Originally Posted by IntotheOcean

This is what i plan on doing as well

Am I the only one who read that paying off loans early actually hurts your credit score?
.....

I've heard the same thing, not sure if true or not to be honest.