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A place for Get Rich Slowly readers to ask questions
and exchange ideas
It is currently Fri Jul 25, 2014 6:51 am




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 Post subject: Re: Buy a car with no downpayment?
PostPosted: Wed Sep 26, 2012 8:00 pm 

Joined: Fri May 04, 2012 2:23 pm
Posts: 810
just the messanger...borrow what you are comfortable with. then refi with someone like penfed, 1.49% APR auto refi's 60 months and under.

https://www.penfed.org/refinance-auto-loan/

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Bichon Frise

"If you only have 1 year to live, move to Penn...as it will seem like an eternity."


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 Post subject: Re: Buy a car with no downpayment?
PostPosted: Tue Oct 02, 2012 5:47 am 

Joined: Mon Mar 19, 2012 11:09 am
Posts: 36
I once bought a "slightly used" car that I later found out was returned by the original owner as a lemon. It had MAJOR transmission issues and had the transmission replaced several times. From what I learned, the original owner negotiated with the dealer to get a new car. The dealer, in a loophole, never reported the car as a lemon. So despite my car fax check, it wasn't flagged as a lemon when they sold it to me. Since I was not the original owner, I couldn't claim the car as a lemon. But I had a case under the Magnuson Moss Warranty Act. I settled for some money on it. But the entire thing was a horrible decision for me and a HUGE financial drain. I was right out of college and this was the first car I ever bought by myself. For being an almost new car, it had more mechanical problems than my previous beater car.


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 Post subject: Re: Buy a car with no downpayment?
PostPosted: Mon Oct 08, 2012 7:34 am 

Joined: Mon Jul 30, 2012 3:59 pm
Posts: 28
By the way, I share a link from Edmunds on a inside info and advice on how to buy a car at my G+ page - story is titled: "Where Does the Car Dealer Make Money".

https://plus.google.com/u/0/b/113845064648789465859/113845064648789465859/posts

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www.dontgopoor.com
SOLD: Don't Go Poor and Miserable Being Sold Happiness - teaching consumers how to buy


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 Post subject: Re: Buy a car with no downpayment?
PostPosted: Mon Oct 15, 2012 5:23 pm 

Joined: Fri Jun 25, 2010 3:06 pm
Posts: 81
Buy a cheaper car and pay cash.


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