Honda Financing

#126
#126
GAVol said:
It's not for everybody but personally, I've never understood the glory in paying cash for a rapidly depreciating piece of machinery. I enjoy using other people's money for close to free.
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I see you point.. I sleep better oweing nothing
 
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#128
#128
Nerd-Vol said:
Whatever makes you comfortable buddy. I just think you annoy people when you barge in trumpeting elitist opinions on how much better your methods are than other folks.
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I never thought paying for things at the time of the purchase was elitist...just being financially responsible.
 
#129
#129
Nerd-Vol said:
No no no! At your funeral, they will say "here lies Yankee, a loving father, strong American, supporter of Kyle Busch, and debtor."

Your family will weep at the shame of knowing that you had ever taken on debt on a depreciating asset. How selfish of you Yankee.
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They'll have more than enough money to pay off my debt 50 fold at least.
 
#131
#131
Biopsyman said:
I never thought paying for things at the time of the purchase was elitist...just being financially responsible.
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What's the difference between paying now, and a 0% loan? I think I'm being fiscally responsible by managing my future cash flows rather than having a significant one time expense.
 
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#132
#132
CanadianVol said:
What's the difference between paying now, and a 0% loan? I think I'm being fiscally responsible by managing my future cash flows rather than having a significant one time expense.
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The difference is that by using their money, you don't tie up a wad of your own cash in an investment that you can't hope to get a return from other than some utility.
 
#133
#133
GAVol said:
The difference is that by using their money, you don't tie up a wad of your own cash in an investment that you can't hope to get a return from other than some utility.
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Come on now. Common sense says that if you don't have that wad of cash, you should just ride the bus. That's the fiscally responsible decision. Only suckers use 0% interest loans.
 
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#134
#134
jjay2518 said:
Come on now. Common sense says that if you don't have that wad of cash, you should just ride the bus. That's the fiscally responsible decision. Only suckers use 0% interest loans.
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I'd think you were being sarcastic, but I don't see any blue font :)
 
#135
#135
GAVol said:
The difference is that by using their money, you don't tie up a wad of your own cash in an investment that you can't hope to get a return from other than some utility.
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I could take that extra cash at the start, and invest it in something that would have a lot better return than the 1.9%
 
#139
#139
GAVol said:
It's not for everybody but personally, I've never understood the glory in paying cash for a rapidly depreciating piece of machinery. I enjoy using other people's money for close to free.
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Yeah, I think there is a lot of latent conventional wisdom about paying cash or paying it off quickly, but in a time where interest rates can be this low, I think it is reasonable for responsible individuals to take advantage of financing rates that are less that the rate of inflation and close to or equal to 0%.
 
#140
#140
CanadianVol said:
What's it about? You are going to pay a whole bunch of money on an asset that depreciates in value quickly. If I can use that cash to make a positive return I'm going to do it every time
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Often when paying cash you can negotiate a much lower price for a vehicle. You have to figure that on your return on investment calculations. Also you need to make sure you have the disciple not to spend the money you are planning on investing on something else.
 
#141
#141
Ace said:
Often when paying cash you can negotiate a much lower price for a vehicle. You have to figure that on your return on investment calculations. Also you need to make sure you have the disciple not to spend the money you are planning on investing on something else.
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Not at a dealer. We make more on financing than cash.
 
#142
#142
Ace said:
Often when paying cash you can negotiate a much lower price for a vehicle. You have to figure that on your return on investment calculations. Also you need to make sure you have the disciple not to spend the money you are planning on investing on something else.
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Here I go again ... With money being free or nearly free, does it really matter what you do with the money as long as you can cash flow the payment without being on the edge of going broke?
 
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#143
#143
GAVol said:
Here I go again ... With money being free or nearly free, does it really matter what you do with the money as long as you can cash flow the payment without being on the edge of going broke?
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Exactly. The nice thing about financing is it frees up cash. Sinking $35,000 cash at once can put a bind on things for even folks of ample means.

In my ideal situation, I would put 1/3 cash down and take advantage of 0.0-2.9% financing. That way there is no real risk of being upside down(Chrysler, jaguar, Land Rover, excluded) and you would have a very reasonable payment that you could pay off early if need be.

One problem is that a lot of folks don't have the luxury of saving up for a big down payment. Circumstances can change quickly for a person and they need a vehicle on short notice.

The biggest thing I would advise for any purchaser is to avoid being upside down in a car as much as possible especially when trying to trade. That begins with buying right the first time, and getting a car you are confident you can live with at least 65-70% of the loan term.

Like I said before, sometimes you can't forsee what happens in life that demands you get a new car. That said, I get A LOT of folks trading in just because they didn't like the car. With the amount of information available, you owe it to yourself to make an educated purchase.

I'm no expert by any means, but these are my observations from working as a sales consultant.
 
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#144
#144
I had a dealer turn down an offer the other day that shocked me. I offered to pay exactly what was on the sticker. I asked them to take care of the taxes for me and i would write them a check right then. They declined. I was shocked. Not only that, this will be the third time the dealer has sold the truck. The truck sold new there and the first two owners traded back in there. Im still surprised.

Nerd, does it make a huge difference between haggling on phone or in person. Like if someone made a reasonable offer over the phone that was declined by the sales manager, would actually going there and making the same offer make a difference?
 
#145
#145
TennVOLS93 said:
I had a dealer turn down an offer the other day that shocked me. I offered to pay exactly what was on the sticker. I asked them to take care of the taxes for me and i would write them a check right then. They declined. I was shocked. Not only that, this will be the third time the dealer has sold the truck. The truck sold new there and the first two owners traded back in there. Im still surprised.

Nerd, does it make a huge difference between haggling on phone or in person. Like if someone made a reasonable offer over the phone that was declined by the sales manager, would actually going there and making the same offer make a difference?
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price negotiation in person is the way we do things at my dealership. What any dealer wants to see is that they have a committed buyer. I personally try to avoid talking about price over the phone. Why? You will simply take my number and go to my competitor and aske them to beat it. You can't sell a car over the phone. That said, a lot of high volume lots will negotiate over the phone.

You also have to consider if your offer is reasonable, see what kbb, nada, and edmunds have to say. Depending on the price of the vehicle, the tax could be $2500. Not every used car on the lot has $2500-4000 of mark up. You have to remember, that a certain point, if the vehicle has been on the lot a while the dealer will discount it to where they will break even. Just because the vehicle has been on the lot a long time does not mean the dealer is going to take more of a loss than they would at the auction house.

Also, the whole writing a check or paying cash to get a deal done does not work.
 
#146
#146
Nerd-Vol said:
price negotiation in person is the way we do things at my dealership. What any dealer wants to see is that they have a committed buyer. I personally try to avoid talking about price over the phone. Why? You will simply take my number and go to my competitor and aske them to beat it. You can't sell a car over the phone. That said, a lot of high volume lots will negotiate over the phone.

You also have to consider if your offer is reasonable, see what kbb, nada, and edmunds have to say. Depending on the price of the vehicle, the tax could be $2500. Not every used car on the lot has $2500-4000 of mark up. You have to remember, that a certain point, if the vehicle has been on the lot a while the dealer will discount it to where they will break even. Just because the vehicle has been on the lot a long time does not mean the dealer is going to take more of a loss than they would at the auction house.

Also, the whole writing a check or paying cash to get a deal done does not work.
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As a buyer I disagree. I don't have time for all the bs so if I can't get the deal done over email and phone I'll go elsewhere.
 
#147
#147
hog88 said:
As a buyer I disagree. I don't have time for all the bs so if I can't get the deal done over email and phone I'll go elsewhere.
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I absolutely understand. If you are dealing with a vehicle that is readily available then by all means go about negotiate over the phone. You don't want to waste your time.

That said a deal is more likely to happen, on your terms if you are there in person.

out of curiosity, have you sold a home before? Either yourself or with a realtor?
 
#148
#148
Nerd-Vol said:
I absolutely understand. If you are dealing with a vehicle that is readily available then by all means go about negotiate over the phone. You don't want to waste your time.

That said a deal is more likely to happen, on your terms if you are there in person.

out of curiosity, have you sold a home before? Either yourself or with a realtor?
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Yes I have with a realtor.
 
#149
#149
hog88 said:
Yes I have with a realtor.
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Cool, I never have sold a house myself, so let me know if what I'm saying isn't so.

I imagine the two goals you need your realtor to achieve are get the house sold in a timely fashion, and as close to the asking price as possible.

Wouldn't you as the seller be a bit irked if you found that your realtor was simply giving out the very minimum you would sell for to every person who called up? Wouldn't you prefer that your realtor entertain reasonable offers from serious buyers, as opposed to hitting the number of a person you may never see?

I know I don't come from the side that garners any sympathy or trustworthyness, but hopefully that illustrates my position a little bit.

Please let me know if the analogy does not work
 
#150
#150
Nerd-Vol said:
Cool, I never have sold a house myself, so let me know if what I'm saying isn't so.

I imagine the two goals you need your realtor to achieve are get the house sold in a timely fashion, and as close to the asking price as possible.

Wouldn't you as the seller be a bit irked if you found that your realtor was simply giving out the very minimum you would sell for to every person who called up? Wouldn't you prefer that your realtor entertain reasonable offers from serious buyers, as opposed to hitting the number of a person you may never see?

I know I don't come from the side that garners any sympathy or trustworthyness, but hopefully that illustrates my position a little bit.

Please let me know if the analogy does not work
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I understand. I just don't have time to deal with the bs that comes along with buying a car. I usually know what I'm paying and make an offer, it's accepted or not.
 
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