Do Not Buy A Used car!!!!!

[Ebm]

These threads always turn into pissing matches. Someone flexes on what a great deal they got on their house or car or girlfriend's breast implants and then another Alpha comments and says how much better of a deal they got. Then another person one-ups the last person and it is a never ending cycle.

Who cares, it's only money. You'll make more...

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[LSchicago]

3.125%
Just taxes and insurance down
Closing costs were rolled into the loan
No points

15 year loans are around 2.5%

I got my 15 year refinance in 2019 at 2.9% before the rate dropped. We pay extra every month so it will be about 9 years max.

 

[dafuture]

So glad I got my '20 GT 301A last August. Even managed to get money off MSRP! Definitely not trying to brag about the deal, just love the car and extremely happy I have it. It was always my dream to own a Mustang, and given the rough year or two I've had, it's been a big bright spot for me.

 

[LSchicago]

So glad I got my '20 GT 301A last August. Even managed to get money off MSRP! Definitely not trying to brag about the deal, just love the car and extremely happy I have it. It was always my dream to own a Mustang, and given the rough year or two I've had, it's been a big bright spot for me.

Last August was a completely different time to buy a car. Prices didn't get crazy until April-May of this year.

 

[dafuture]

Last August was a completely different time to buy a car. Prices didn't get crazy until April-May of this year.

Absolutely, I'm well aware. Just relieved I didn't bite myself in the ass. I'm helping my parents find a new car for my younger sister and the market's absolutely brutal right now.

 

[shogun32]

it's only money. They'll make print more...

fixed

 

[DougS550]

OH, my ex got 90 months in 2018. Its been here. Since then, she decided to not get the oil changed (20K miles since last) during COVID and blew the engine.

Sorry to hear about the engine.

 

[Davy_Baby9]

I picked up a leftover 2019 GT at the beginning of the pandemic and got an unbelievable deal. With used car pricing the way it is I’m tempted to trade it in but there’s no inventory here and it’s hit and miss depending on dealer what they’d offer me trade in. I’d probably never get the same deal but I could trade up (wanted a manual but couldn’t find any). Buy low and sell high to get what I want. Or just keep it because it was so cheap.

 

[shogun32]

I picked up a leftover 2019 GT at the beginning of the pandemic and got an unbelievable deal.

then sell it IMO and use the 'winnings' to pad your next purchase tier.

 

[Cobra Jet]

then sell it IMO and use the 'winnings' to pad your next purchase tier.

LOL @ winnings…. Yea, buying a used or new car now is like paying ADM “just because”, along with also paying the higher taxes…. Ford is barely if at all, offering any incentives or discounts on new S550’s….and that’s if you can even find what you’re seeking..

I’m really not seeing how folks think they’re making out by selling high AND buying high…. Unless, they’re just high…

 

[JUNQDAWG]

I wasnt trying to get into a pissing contest. I was simply stating the rate for 15 years isnt good compared to TODAY'S rates.

I misspoke as my closing costs were paid for by the builder if I chose the 30 year loan with their lender, along with a 20k discount on top of that. This was 4 years ago.

I'm not married to a real estate agent but I did stay at a holiday inn last night.

4years ago this was a WHOLE DIFFERENT WORLD !!! ALL THIS back and forth has been for naught !
Apples to Oranges would be a generous comparison . Of course Rates were lower 4 yrs ago ,I agree with that . But if Inflation rears its UGLY HEAD as it did in "<My 16 1/2 %" > back in 1983 .IT MIGHT BE CHEAPER TO KEEP STAYING IN THAT HOLIDAY INN . BE sure its got a pool though .

 

[JUNQDAWG]

I got my 15 year refinance in 2019 at 2.9% before the rate dropped. We pay extra every month so it will be about 9 years max.

Smart move with "That Extra Monthly Principal Payment " !! People have no idea how much $$$ they save with that scenario . Like you are doing when I had that crazy rate ,The only reason I took it was I had 2 yrs. to reinvest in a more expensive home after I sold my old home . That was the tax laws back then so I had no choice but to get what I could because time had run out on 2 year "window" . I did same as you and paid $500 on principal each month extra and cut my loan time in half . Glad to see you are doing same . good luck . Buying a new home is as close to getting a divorce as you will ever come ! It really works on your nerves , Junqdawg

 

[shogun32]

Yea, buying a used or new car now is like paying ADM “just because”, along with also paying the higher taxes

only a blithering idiot is buying anything today. The 'winnings' are perfectly spendable in 8 months time when the prices are back to rational levels.

 

[5.Oh Crush]

only a blithering idiot is buying anything today. The 'winnings' are perfectly spendable in 8 months time when the prices are back to rational levels.

Yep, and if more people realize that, the prices will go down. Should only get car out of serious necessity now.

 

[sk47]

Hello; One other thing. The folks who are buying now are keeping the prices high. As long as people keep walking in and paying it the price will stay high. I also have a gripe with shopping for payments compared to actual price.
If you are in a bind and have no choice right now that is bad luck. If you can wait then wait.

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