Originally Posted by 6MT (Post 367796)

Only in the USA. Wow, no wonder financial institutions got into trouble.

Originally Posted by mick (Post 367810)

i made one payment too, first and last payment :)

Originally Posted by mick (Post 367810)

i made one payment too, first and last payment :)

Originally Posted by mick (Post 367810)

i made one payment too, first and last payment :)

Originally Posted by radio5boro (Post 367820)

i wish i had that luxury. :shakes head:

Originally Posted by mick (Post 367834)

ah but if you guys had the cash to pay off a nissan, some of you probably would want a more expensive brand :)

for me it was a no brainer: the bank is paying me 2.35% interest rate on my money but they wanted 3.99% for a car loan. i just withdrew my money and paid off the car.

Originally Posted by Santent (Post 367792)

Hopes this helps someone that might be able to pull this trick off!!! :tiphat::tiphat:

Originally Posted by Soygen (Post 367859)

Far be it from me to tell people how to handle their finances, but this really isn't a "deal". You're still accruing interest and it's just pushing out your payoff date while the car is losing value from when you actually started driving it. If you can't afford to make payments for a few months, you're probably better off waiting on the car and having even more money to put down on it in a few months, instead of doing this.

Originally Posted by In2Deep (Post 367985)

Also no offense.....but I'm putting my money that next post from Satent is...
"How I managed to only make 1 payment in 7 months....before getting my car repossessed"

Originally Posted by m4a1mustang (Post 367991)

Definitely seems that way.

A lot of people tend to psychologically eliminate interest from the equation when they are making big purchases. The only thing that matters to them is the monthly payment. These are the kind of customers that banks love.

Originally Posted by Division (Post 367988)

I think your forum handle sums up this thread better than any of us could.

Originally Posted by Santent (Post 367792)

Yes, it's quite true. But there are restrictions.. and most wont qualify. Here is how I did it (and yes,i had it planned out for several months).

When purchasing a vehicle from Nissan and financing through the Nissan Motor Acceptance Corporation, if you can prove you have graduated from College within the last 12 months you can hold off on payments for up to 3 months. Yes, some interest does accrue from this and your payoff amount goes up, but i was not in the position to start payments immediately.

So, time flys by, about 11 weeks later i Refinance my vehicle through PenFed for 72 months at 4.75% apr. They usually automatically give you about 2 months till your first payment will be do... i got the woman on the phone to give me about 2 and a half :-D So here it is, ive had the car about 8 months, a little over 10,000 miles and i've only made 2 payments on it.

some things to note:
A. You have to be a recent college graduate.
B. Most college graduates cant ge financed for a vehicle because of their student loan debt.. my students loans were in deferrment till december, when i purchased the car in July they did not show up (or something like that).

Ahh on a last side not, Nissan gave me 6.75% apr at 60 months when i bought the vehicle. Hopes this helps someone that might be able to pull this trick off!!! :tiphat::tiphat:

Originally Posted by m4a1mustang (Post 368160)

Well, if you think about, he hasn't really scammed anyone but himself. :)

Originally Posted by ZKindaGuy (Post 368166)

Point is though he is of that mind set.....

Originally Posted by zmyride (Post 368176)

Does the original poster realize that he is just stretching his car payments 8 months longer?

Not paying for 8 months now means you have to pay 8 months longer later. Thats a foolish thing to do because your car depreciates and you could owe more than the car is worth.