Cash for mine. You get the best deal that way and you avoid making the banks rich at your expense. No treat like this car for me until I could pay cash for it.

Financed 35k @ 1.9%.

No other debt at this time so the plan is to double payments for 30 months and get it paid off ASAP.

Thought it would be best to finance and use cash for other "fun" purposes since the worlds going to end anyway in 2012. :icon17:

Not me. I will be honest, if I could have paid for my Z in cash, I would have bought a GT2 or something and financed the difference. While interest rates are low and the economy is shaky, I think now is the time to take on debt as inflation will only help me.

Most good checking accounts will earn you 4.25% these days, and if you put that $35K into a 4.25% checking account and financed at 1.9% you would be making 2.35%. So basically, you lost out on the bank PAYING you 2.35% of that purchase price. If, at any time, you want to pay it off, just pull the money out of that account and put it into the other.


Basically, you lost $800.

Cash is cash, and the dealer doesn't care if your name, or Chase's name is on that check. Same deal is same deal.

Lots of misconceptions out there about credit-cards, financing, etc. People are losing big bucks by not hammering their credit-cards and the like. It's only bad if you're ignorant and irresponsible. Otherwise, I make a few hundred bucks cash a year just off my little gas/food credit-card. Kinda nice to have the bank pay me to use their card.

wat?

Show me a checking account making 4.25%

Yeah, the best you can do is a money market account at under 2% which most are at 1% today I believe.

paid for
 

One payment.:ughdance:

Show me 4.25% in a chqing acct. I'd be all over that and I don't even live in the US

4.25%? Sounds like one of those Nigerian Scams on craigslist

I got one of those yesterday. A really nice lady was offering me $120,000,000 because God led her to me.

So nice :bowrofl:

The best part is the way he picks specific numbers to add credibility. It's not 4%, it's 4.25483827377938262$2%.

A quick survey of local banks shows current rates between .85 and 1 percent for amounts between 10k and 50k.

:werd:

I need to get me one of those!

Bought mine for $28k and paid $17k down. I'm 21 and still go to school while I work part time. Make enough money to pay for my car and all my other bills. Should have the Z paid off soon after I graduate and start working as a full time chemical engineer. :happydance:

I wouldn't have paid cash for mine even if I had it all at the time.

Mine is paid for. Bought October last year, paid off last month.

I didn't pay cash, but put a large amount down (like 40%) and financed the rest. I then paid large bulk sums every other month. In the end I get to keep the cash in the bank just in case, but pay the car off so fast that I pay very, very little in interest.

Once I paid off my first financed car I've been doing this and it works out pretty well. Benefits of both sides, no real penalties.

All over the place where I live. Here's a link to just one:

4.25% FREE Checking Account Called Lagniappe Checking at Campus Federal Bank- Current Rates, News and Information about Checking Accounts | Go Banking Rates

Open up 2 accounts for a total of $50K at 4.25%. Easy as pie. Seems like half a dozen institutions around me offer it based on the signs I see going down the road passing in front of them.

No, the best part is how I'm right. 4.25% up to a balance of $25K. Bank's numbers, not mine. You mad? The south sucks in many ways, but in this way, it's beating the crap out of wherever you live, lol.

This great checking account rate offer is for locals only living in Louisiana.

:facepalm:

Where to Find the Best Savings Rates - SmartMoney.com

Look at the bottom, and I promise you that's not all the banks doing 4%+. Look around.

Different banks run different "promos". what they do is offer great rates to attract customers so that they can lend more. Find a bank with a shitty checking interest rate, and they are going to be more happy to issue you a loan. Find a bank with a great checking interest rate, and vice-versa. Back in 2010, for example, my googling reveals that there was a bank in TX that was open to all TX residents that offered over 4% up to $25K. Currently, they have dropped down to 2%. Did you get in on that? Why not?

Well never fear, I did your homework for you just to prove to you and others that if you look around you can put your money to work for you: http://www.banktexas.org/currentrates.htm

There you go. 3.25% up to $10K. Open and available to YOU! But you know what? You probably won't do it anyway, so I'm wasting my time other than to prove to you what you're pissing away in interest with low rates.

Don't generalize government-subsidized interest rates that aren't applicable to anyone outside of the immediate area :facepalm:

And yes, the south beats the **** out of where I live... In Alabama.

I feel for you :ugh2:

Was looking at VA on your profile. I consider the South to be any state touching the southern coastline to the east of and including Texas.

I bet I could find a bank you could join in Alabama that would give 3% or higher, but I've reached my quota for free financial hand-outs today with my response to Dreamer.

Free financial adivce? Sorry but that is pretty 'meh' advice.
Did some digging on the sources used to find those 4.00% rates, there might be a bank in a state that will offer it, but they also require you meet certain requirements. Nothing major for certain people, but not everyone can meet the requirements hurting the chance even more. Honestly getting the 4.00% rate seems more of a gimmick to get you into their bank and then they bottom out the rate in 6 months.

I financed about $30k when I bought it and then paid it off within a year... Then invested countless $$$ into the car lol

lol you sound like me, just not as much money.

Very possible, and then you pull your $$ right back out like a day-trader and find the next pump-dump. I enjoy making my bank pay me, it's pay-back for how much of a hassle they can be at times. Right now I'm getting 2% cash-back on my CC purchases and always pay it off so 0 interest goes to them.

Want a refund on my advice? I'll give you twice what you paid me for it.

Great, well here's an example of a southern state that doesn't have any decent interest rates....at least from your site.

http://i36.photobucket.com/albums/e3...6at85957PM.png

There are some available to guys on the arsenal (that don't come up online), but none to an average guy.

:inoutroflpuke:

interest rates now in Singapore is low for car financing. its about 1.88%/annum.

with inflation goin at abt 5%, even if you did have money to buy the car outright, it actually makes more sense to borrow and reinvest the spare cash somewhere else...

Im only financing $14000 on a 4 year loan

Paid cash for mine!!

Does writing a check count? That's how I got mine.

Sorry, I disagree with that. Paying cash is the safest way to go. Unless you have an insured account that can beat the interest rate of the borrowed money. Even then, things can happen; i.e. layoff, family crisis, etc. that suddenly requires a commitment of your cash.

I know that may seem counter-intuitive for many, but after 30 years out of college and being debt free for the past ten years, I can attest to the idea of "living within your means". A lesson sorely lost in our society today.

That's not to pass judgement on how anyone leads their lives, and I truly acknowledge that you have every right to do what you want within reason, but I'm a CPA with an MBA and I can attest to the notion that "sh1t happens", and you never know when.

That little sermon will do nothing but to piss a lot of people off, so sorry.

Lecture over!

That being said, I've got cash burning a hole in my bank account waiting to be exchanged for a new Z. I'll know by this weekend whether the search may extend into the Spring after bonus time.

Wish me luck.

Writing a check is usually taking cash out of your bank account (checking or savings) so yes it is the same thing.

Thanks. I was being facetious.

Impressive that they took a check.

I think an 838 FICO score helped a little.

financed my used nizzie (2010 1700 miles) at 3.5% with $1000 down. Plan on keeping it till the wheels fall off, so I can pay off higher interest stuff like my house and student loans. have a 95 saturn as a dd to keep the miles down.

:tup:

35000 for the car 20000 down took a loan for 15000 for 5 yrs but if the upcoming income tax is good paying it off =))

I put 15k down cash money on the table

Paid cash and it felt GREAT!

My dealership took personal checks. However, we verified with the bank that the funds were there before the customer left in the vehicle.