Quick need car advice, math dudes..

[newarkhiphop]

Looking to pick up a used car today trying to keep it at $8,000 max, already got a couple of cars in mind but

should i fiance all the money straight from the dealership?

or

Borrow $5,000 from the bank put that as money down and fiance the rest?


any chance my total payments will be under at $250?


trying to pay it off over 2 years

 

[Brown_Pride]

Looking to pick up a used car today trying to keep it at $8,000 max, already got a couple of cars in mind but

should i fiance all the money straight from the dealership?

or

Borrow $5,000 from the bank put that as money down and fiance the rest?


any chance my total payments will be under at $250?


trying to pay it off over 2 years

hows your credit and what can you borrow money from your bank at? (i.e. rate)

Money down is always going to reduce payments AND you wont be financing as much (or paying someone else to use their money).

Is leasing an option?

What car you getting or interested in?

OH buy cash if you can and used. Never new. Makes no damn sense.

 

[Food Mane]

24 months at 250 is 6000

So if you borrow 5000 you're payments will be higher I'm thinking

 

[newarkhiphop]

hows your credit and what can you borrow money from your bank at? (i.e. rate)

Money down is always going to reduce payments AND you wont be financing as much (or paying someone else to use their money).

Is leasing an option?

What car you getting or interested in?

OH buy cash if you can and used. Never new. Makes no damn sense.

credit is ok not great

not sure what rate the bank is going to give me, heading there in a bit . what the avg credit nation wide? or does it vary greatly?

I could lease but am trying to avoid that, do you recommend it? why?

Wish i could buy it all cash but cant and its used so far look at 2 honda civics one a 02, 04 both both with about 85-88k miles and both at about $8,000

 

[Tommy Fits]

02 and 04 civic's w/ 85-55k. I've recently been looking at cars myself and I've seen better deals for your 8k

 

[Brown_Pride]

02 with 88k miles is damn good in terms of mileage...at least for AZ.

...what state you in. I just bought an 02 Accord for 6k in AZ.
2002 HONDA ACCORD AUTOMATIC A/C 99865 MILES $5400 OBO

here's another one. I know this dude at work that used to travel to other states to buy cars because they were cheaper. If you're looking at spending 8k and buy a car out of state for 6k you're saving $$$ plus you get a road trip.

Check this out...
2005 Honda Civic - $4200 for an 05 civic.

with the 4k you're saving you could probably throw a whole new engine in there and still save money...if it even needs a whole new engine.

I'd really shy from financing a depreciating asset, especially new.

i forgot to mention....
if you do buy out of state check the prices at your DMV for transfering out of state titles, some of those fees can be high, especially coming OUT of california...

 

[He Who Posts Well]

Do you have any cash you can put down? If not, see how much money you get approved for at the bank then see if you can negotiate with the dealer with what you get approved for. For example, if you get approved for $7,500, you can begin negotiations there instead of paying $8,000 for a car. It depends where you go though. Some places have no haggle prices.