BallPlayer13
BallPlayer13 OP t1_jeeklev wrote
Reply to comment by BoxingRaptor in Unsure if a car loan is the best or if paying in full is better. Nor is havibg a impulse buy to cover the off chance i dont find a deal later on. by BallPlayer13
This model of vehicles has been “sold out” for two years, going into it's 3 year of being sold. I am not sure if the “hype” for this vehicle will die down. I understand your outlook.
What is your outlook on not spending all my cash, and receiving a auto loan at the 7%~ interest rates for $20k?
BallPlayer13 OP t1_jeeika3 wrote
Reply to comment by BoxingRaptor in Unsure if a car loan is the best or if paying in full is better. Nor is havibg a impulse buy to cover the off chance i dont find a deal later on. by BallPlayer13
I agree. The issue is this car has been hard to get for MSRP. So, many people have been paying over sticker (craziness to me). So I am unsure if meeting an MSRP vehicle pass is the best move since it's not a 100% guarantee I will find another one at MSRP.
What are your thoughts on taking an auto loan for 20k at this 7 % apr?
BallPlayer13 OP t1_jeelksq wrote
Reply to comment by alexm2816 in Unsure if a car loan is the best or if paying in full is better. Nor is havibg a impulse buy to cover the off chance i dont find a deal later on. by BallPlayer13
I agree. I do plan on waiting a couple of months at a minimum. The main issue I foresee is if I wait too long, I could be rushed into needing a new vehicle and given if I do not have one spoken for at the end of the year.
What are your thoughts on keeping some cash and receiving a loan for $20k with the current interest rates?
The little back story is I have a 2013 chevy cruze that needs about $5k in repairs to pass inspection for registration. The vehicle is only worth about $2k. It doesn't make sense to repair the car when I already don't fully trust its longevity.