Sad Day ....wrecked my new mustang :(

[Falconetti]

Is this the wrecked car thread or the finance thread...im confused now

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[wireeater]

Is this the wrecked car thread or the finance thread...im confused now

Don't worry. Clearly 6G is full of registered financial advisors!

 

[EcoSwag1990]

Send me $50 if you would like a detailed assessment of your financial decisions

 

[kapiteinlangzaam]

Send me $50 if you would like a detailed assessment of your financial decisions

LOL

 

[HoosierDaddy]

Send me $50 if you would like a detailed assessment of your financial decisions

Send me all your account numbers and passwords and I'll do it for free.

 

[wireeater]

People also need to know:

You can cancel GAP at anytime (but check the fine print of what you are signing...). If you get it through the bank in which you got the loan, depending on how your pay, you will be reimbursed the difference.

You can purchase GAP through your insurance, always have. And it is usually a lot cheaper than going through a dealership. Now they just make it more obvious by advertising it as car replacement as the same value crap.

If you are buying a NEW car you will always want GAP insurance until you've balanced out the loan VS the depreciation of the vehicle. Unless you traded in or put down a large down payment, which have taken you well bellow the depreciation level.

My Mustang is probably the WORST depreciating vehicle I have owned new. Anyone who is taking a loan on a car will always be under at first unless they put a LARGE down payment and that is stupid if you are getting in on a low interest rate. IMO, the only time a car purchase is a bad idea is when you are getting high rates, then yes you should be buying something that you can actually afford.

Some people come online trying to act like they're Warren Buffett and are some sort of financial prodigy when I can bet realistically, there credits and investments would prove otherwise...:lol: Stop trying to make yourself feel better. We all work hard for the things we own. The way some people choose to purchase their cars might work for them, there isn't a terribly wrong way to do it unless it's quite obvious a stupid financial move.

 

[stoli]

I'd rather finance it all with gap insurance than put a huge chunk down and risk
'loosing' that down payment should something go wrong in the first couple of years.

40,000 car
10,000 down
--------
32k loan with all the bs.

If it's totaled in first year or two out your 10k. The same thing financed 100% with gap and that 10k is still in my money market account.

To each their own...

 

[wireeater]

They can pull phone records and compare them to the time of the accident. Easy peasy.

Pretty sure they would need a warrant to do that, LOL... They will not be serving a warrant for a petty, minor accident.

 

[CMonsterGT]

I guess this is a bad time to say I financed mine for 72 months @ 2.65% and bought GAP to help mitigate the 2k neg equity from my former car?

 

[wireeater]

I guess this is a bad time to say I financed mine for 72 months @ 2.65% and bought GAP to help mitigate the 2k neg equity from my former car?

As long as you can afford the payment, who cares. :shrug:

 

[Coolmanfoo]

I guess this is a bad time to say I financed mine for 72 months @ 2.65% and bought GAP to help mitigate the 2k neg equity from my former car?

You're my hero

 

[obgod3]

Send me $50 if you would like a detailed assessment of your financial decisions

My financial decisions are frigin EPIC...but no one wants to use them....LOL

 

[EasyBeingGreen]

You should NEVER get GAP. If you do then that means you're making a bad financial move because as others have stated, you should never be upside down on a $40k car....you should have bought a cheaper car.

So what are your thoughts for those of us who got 0% financing?

 

[moto111]

jeez shut up and take my money and invest it. not go eat a bag of huge whale ... vaginas lol

 

[Falconetti]

jeez shut up and take my money and invest it. not go eat a bag of huge whale ... vaginas lol

Mmmmmm, whale vaginas

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