Best way to save up and buy a s2k
#1
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Join Date: Mar 2011
Location: Cresskill, NJ
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Best way to save up and buy a s2k
I've been trying to figure whether to save up all the money to buy a s2k, get a loan from bank or other company. Or to save up some money and finance it at a dealership. What do you guys think is the best way to go about buying one with minimum headache. Thanks in advance
#2
Don't rush into buying an s2000 wait patiently for a good looking one with low miles. I would save up some money until you find the s2000 you want to buy and then at that point finance it if you have to. Remember you will probably get a high interest rate (financers see an old and used car thus the increase in interest rate). Good luck! I was in your shoes for months
#4
You're in a much stronger negotiating position with cash.
And financing a used car from a private seller can be a headache and some credit unions and banks... I've heard of some that won't do it, or make it a real hassle to do it.
My vote is save up. It'll make you appreciate it that much more, plus you only have 1 car payment!
And financing a used car from a private seller can be a headache and some credit unions and banks... I've heard of some that won't do it, or make it a real hassle to do it.
My vote is save up. It'll make you appreciate it that much more, plus you only have 1 car payment!
#5
if you can, safe the money a head of time as it will give you more negotiating power. it definitely makes the sale much easier and again, gives you more control of the transaction. with a loan your fist stop should be a credit union, although car dealerships offer very attractive financing options sometimes, financing for a used car will be a ripoff, plus they overcharge on the sale price to begin with.
bottom line - safe your cash!
bottom line - safe your cash!
#6
I've been trying to figure whether to save up all the money to buy a s2k, get a loan from bank or other company. Or to save up some money and finance it at a dealership. What do you guys think is the best way to go about buying one with minimum headache. Thanks in advance
Good luck
#7
You're in a much stronger negotiating position with cash.
And financing a used car from a private seller can be a headache and some credit unions and banks... I've heard of some that won't do it, or make it a real hassle to do it.
My vote is save up. It'll make you appreciate it that much more, plus you only have 1 car payment!
And financing a used car from a private seller can be a headache and some credit unions and banks... I've heard of some that won't do it, or make it a real hassle to do it.
My vote is save up. It'll make you appreciate it that much more, plus you only have 1 car payment!
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#8
You guys are incorrect about the leverage you think you get when paying cash. Its actually the opposite . When you finance a car the dealership is going to make more money from you financing then paying cash. How do i know ? Im a sales rep. @ Honda, and its slow , so im on S2ki !!
#9
Former Sponsor
If you have good credit and can get a really low interest rate I'd just finance one. I'd rather finance at a low rate then pay cash.
I just bought a daily driver few months ago. Got it for 15k. I was going to pay cash for it but with an interest rate of 2.5% on it I just put 5k down and financed the rest.
I make much more money off 10k then I would lose paying the interest over a few years.
Plus it also helps your credit out by paying a car loan off over a few years.
I just bought a daily driver few months ago. Got it for 15k. I was going to pay cash for it but with an interest rate of 2.5% on it I just put 5k down and financed the rest.
I make much more money off 10k then I would lose paying the interest over a few years.
Plus it also helps your credit out by paying a car loan off over a few years.
#10
Registered User
Work. Save money. Nothing wrong with financing a car in my opinion, but you want to be able to put as much down on it as possible. Also wait for your favorite color, low mileage, etc. - don't rush into it.
Enjoy it when you get it!
Enjoy it when you get it!