Quote:
Originally Posted by Matt Monson
I personally put financing a used $25-30k car in a different category than financing a $45-50k one. Though it seems pretty common with what I see posted elsewhere. Ultimately, it's their money to spend how they see fit. I just find it daft.
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Good point, and I agree. In fact, I probably could not have realistically financed a $45-50K car (not talking about cash advances on multiple credit cards, etc., to make up the difference
).
I've seen people here, and in other threads, mention classic car loans - I didn't know those even existed. My financing was a simple, signature loan from USAA for x amount, and then I covered the difference from savings (probably about 1/3 of the purchase price, If I'm remembering correctly). I then paid off the five year loan in about two years, so interest was minimal.
Quote:
Originally Posted by David Borden
I think one of the biggest issues is if you can't afford to buy the car, or the vast majority of the purchase in cash... and something goes wrong with it. I.E. Needs a trans, engine build or seal etc... they are in deep $h1t.
. . .
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And then shiit piles really high if the owner is not a mechanic/DIY guy (or woman . . . or both!).
I would not even consider owning a car like a vintage 911 if I were not a mechanic; for one, I couldn't afford to pay a shop to work on it, and along with that, many shops seem to be staffed with knuckleheads, slow as molasse bums, and/or crooks . . . all it takes is some steady watching of the 911 tech forum to realize that the options for good, timely, non-ripoff work are slim.