Argh

[bertine]

Cars are so expensive. I wish I liked fixing cars or had my own garage so I could fix my own cars because it would be so much cheaper.

All the cars I am looking at are around 25k. With a 5 year loan that would be $500 a month! How do people buy new cars and have mortgages? I am going to go hide my head in the sand right now.

Comments

[seattleforge.livejournal.com]

Well.. the interest rate you pay on a used car will likely be much higher than the rate you'll be charged on a new car given all the deals out there. So unless you're married to a particular badge or model you should be able to secure a much lower interest rate.

[bertine.livejournal.com]

THIS IS SO COMPLICATED.

I didn't know that. Good point. I have great credit and I am pretty sure I can get the best deals around right now. Well... if I can get a really low interest rate than it drops my price by a lot.

I can't wait until Zach gets back in town and we can start shopping around for this stuff. I know I can afford a new car, I changed my 401k savings rate from 12% of my income to 6% which should free up a car payment. Ha!

[seattleforge.livejournal.com]

There is some blood on the street right now. Usually car ads come out in the paper on Wed and Sun. Don't fall for the "3 in stock" loss leaders. You're really looking for the specials that the manufacturer's have on.

Or you can just look at the local incentives the OEMs have: http://www.fordvehicles.com/incentives/

[bertine.livejournal.com]

I'll buy a paper tomorrow and look at the Sunday paper tonight. I have never bought a car like this before. My current car (my first) I bought from Jenni.

The funny thing is that if we were talking about buying a house I wouldn't have a problem with it at all. I know houses and how to buy them.

[seattleforge.livejournal.com]

And check the incentives online. Just looking here I see that F has 3.9% financing on 60 month loans on most of their models.
I'm sure the other OEMs are in the same boat. Generally you're looking at 9-12% for a loan on a used car.

[bertine.livejournal.com]

Actually, looking at my credit union, it looks like I might be able to get a good used car loan.

http://www.affinityplus.org/pages/CurrentRates/Loans.aspx

[seattleforge.livejournal.com]

Good luck!