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Old 06-01-2011, 01:40 PM   #26
Bronco85
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Default Re: Normal Length of a car loan?

I'd like to start low because I plan to have it along time. 10+ years. Thats why I'm also thinking new. I kinda go for the drive it till it dies idea.

Plus I'm looking for a 4 door short bed truck. I don't wnat a super long one.
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Old 06-01-2011, 02:06 PM   #27
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Default Re: Normal Length of a car loan?

I am with ya on having it a looooong time. In the past 22 years I have onlt bought 3 trucks 95 New regular cab...got married and kids came and went to the 97 in 2001...Just bought this one yesterday and expect to have it a loooong time.
And if you want a shorter truck you definately have no interest in mine....lol 40 acre turning radius.
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Old 06-01-2011, 06:53 PM   #28
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Default Re: Normal Length of a car loan?

Quote:
Originally Posted by Josh View Post
Interesting thread. I have been thinking the same thing. Up until this point I have paid cash for every vehicle I have and currently have the cash to buy what I am looking for but...

...I really dont want to tie up my cash when I can use it for other things that can make me money. So I have been contemplating getting a loan and getting a new base model regular cab Tacoma to beat around in for a while. But at the same time I really don't want a payment, my mortgage pisses me off enough already....
Josh, a Lease might be more your speed. Lots of benefits to a lease. I totally see your point in not tying up your cash. You could use that 30-50k to do some pretty good things right now in this market.

Your situation is different than the guy going out to get a car with less than 1 years living expenses in the bank and a guy who is not maxing out his 401K or IRA or equivalent (16.5K/year).

My money doesn't sit in the bank in a savings account that is no good either, but paying someone else to use money that is easy to save with a little patience is crazyness.

I understand buying a house on loan. Although I regret doing it. 250k-350k is a lot of scratch for our social class.
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Old 06-01-2011, 06:56 PM   #29
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Default Re: Normal Length of a car loan?

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I use a credit card for almost everything because I get airmiles. Flew to Maine this winter for almost free.
Also I like having the "protection" vs using cash or check.
BUT when the bill comes in every month, it's paid in full.

Phil switch over to the commercial sales desk. They will have a plain white wrapper with crank windows, rubber floor and most any engine/trans package.
Nate, you are surely the exception and not the rule.

I get points with my debit card. Has the same security as your credit card and is accepted everywhere your CC is, most likely (unless you are discover, AA or DC).

I have not written a check in a long time. I use cash or card, that is it.
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Old 06-01-2011, 07:08 PM   #30
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Default Re: Normal Length of a car loan?

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Originally Posted by Alaska ZJ View Post
Bad decision.
I had a long written response but figured I'd just ask a question instead.

Did you pay cash for your house?
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Old 06-01-2011, 07:11 PM   #31
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Default Re: Normal Length of a car loan?

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Originally Posted by Alaska ZJ View Post
Josh, a Lease might be more your speed. Lots of benefits to a lease.
LMAO, you serious? If you don't buy out the lease in the end, your making payments on a vehicle you'll never own. Go ahead and pay $300 a month to rent a truck for 3 years.
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Old 06-01-2011, 07:39 PM   #32
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Default Re: Normal Length of a car loan?

Quote:
Originally Posted by nate View Post
I use a credit card for almost everything because I get airmiles. Flew to Maine this winter for almost free.
YEP, same here. Like Alaska ZJ said we are called the exception, but I know alot of these 'exception' people... I do believe more do not pay off their CC monthly than do though...

Quote:
Originally Posted by Niko View Post
LMAO, you serious? If you don't buy out the lease in the end, your making payments on a vehicle you'll never own.
I agree with Niko...leases are bad well over 90% of the time...
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Old 06-01-2011, 09:01 PM   #33
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Default Re: Normal Length of a car loan?

Quote:
Originally Posted by Niko View Post
I had a long written response but figured I'd just ask a question instead.

Did you pay cash for your house?

ahhh, yes. I financed the land, 10 yrs and paid off in 3.
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Old 06-04-2011, 09:41 AM   #34
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Default Re: Normal Length of a car loan?

credit is a joke , they extend it all over the place once you hit a "magic" number .. I use credit card for internet / mail order only and pay it off . that way IF or when credit card fraud comes up then its not attached to my checking /savings. also most rental car companies told me that they will not rent me a car with a visa debit card. that it had to be an "unsecured regular credit card" .. that was Avis , hertz and dollar rental car in the great lakes area
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Old 06-04-2011, 12:38 PM   #35
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Default Re: Normal Length of a car loan?

Almost every major rental car agency WILL allow you to reserve a car using a debit card(as long as it has the mastercard/visa/amex stamp). Most, however, will place a “hold” on your debit card in the amount of the full rental price plus, in some cases, a pretty healthy deposit percentage. Some rental agencies do not accept debit cards for reservation or have very strict policies. they are usually the very small or local agencies that you don't generally want to use anyways.

Only had it be an issue 1 time, when the desk clerk was unaware of their own policies.

I use my debit card for most of my purchases. i only pay cash for large purchases, or when out of state.

Only had 2 loans ever:

1. College: roughly 1/2 of which i payed cash every semester. payed my own way, motivated me to finish quicker and do well since it was my own money. The balance of which i had payed off in under 5 years.

2. House: payed roughly 1/4 down in cash. paid roughly 10% under assessed value. best rates in seen in years right now by the way.

Never had a credit card, never had a car loan. You can't borrow yourself into prosperity.
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Old 06-04-2011, 02:04 PM   #36
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Default Re: Normal Length of a car loan?

why not just simplify completely..? no money in, no money out... alot can be said for a monastic lifestyle
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