Question About Car Down Payments

[Brother Numsi]

So I plan on getting a new whip this year probably in the later Spring. I have a good idea what kind of car I plan on getting (feel free to offer any suggestions anyway) I was thinking about putting down a few grand for a down payment on my vehicle so the monthly costs won't be as high.

But my buddy says to me that down payments on cars are pointless because it really doesn't decrease your monthly payments and if it does it would only be by like 30 dollars or something to that nature. He's bought way more cars than I have so I'm kind of taking his word for it. I only bought one car and I paid for it flat out with no monthly payments.

You guys agree with my boy about car leasing? Yay or Nay? Oh and the car or truck I plan on purchasing will probably be in the 25k-35k range so nothing fancy. I'm still paying student loans and shit LOL

 

[SFMMA]

Depends on what you put down versus the cost of a car and the interest rate you’re paying. It’s called math. Sure those student loans were worth it?

 

[ToxicShocker]

If you are unable to understand APR and weigh different types of loans, you're an idiot.

 

[Midnighter]

Leasing is a good idea if you're stupid.

 

[Deleted member 484047]

If you can't figure this kind of stuff out, don't take out loans. What you are talking about is pretty basic stuff.

Hell, you can find calculators for this kind of thing online if math isn't your strong suite.

 

[HARRISON_3]

What kind of car do you want to get and why?

 

[Brother Numsi]

If you are unable to understand APR and weigh different types of loans, you're an idiot.

Yeah, I went to college so I'm not a total idiot

 

[DaleBoca]

It all depends on the lease specials. Sometimes the special will need you to put a few thousand for you to quote on quote for the special. It also depends on your credit history and etc.

Here is an example. My sibling went to lease an Infiniti a couple years back and these were the rates. The first side of the bracket is with zero down, the term and the next is with a down and the following with a down and the next with another.

 

[Brother Numsi]

What kind of car do you want to get and why?

Finally an actual question. Damn...lol

I was thinking about getting a 2019 Honda Accord. Good gas mileage and affordable. I was also looking at the Toyota Tacoma

 

[DaleBoca]

Leasing is a good idea if you're stupid.

You can always turn that lease into a buy at the end of the term.

 

[Brother Numsi]

It all depends on the lease specials. Sometimes the special will need you to put a few thousand for you to quote on quote for the special. It also depends on your credit history and etc.

Here is an example. My sibling went to lease an Infiniti a couple years back and these were the rates. The first side of the bracket is with zero down, the term and the next is with a down and the following with a down and the next with another.


View attachment 499143

Yeah. See this is what my guy was talking about. Not too much of a difference in monthly payments with cash down. Most car dealers just want down payments to make their commission which is understandable.

Thanks for feedback homie

 

[Brother Numsi]

If you can't figure this kind of stuff out, don't take out loans. What you are talking about is pretty basic stuff.

Hell, you can find calculators for this kind of thing online if math isn't your strong suite.

You know sometimes I forget this is a Sherdog Forum and everybody on here knows everything about anything and I'm just a dumbass trying to make conversation.

 

[DaleBoca]

Yeah. See this is what my guy was talking about. Not too much of a difference in monthly payments with cash down. Most car dealers just want down payments to make their commission which is understandable.

Thanks for feedback homie

Yea, those dudes will always want you to put down some money. Not only that, they’ll say that you’ll have to have an extended lease, from 36 months to 48 and with low miles, 10k per year.

You said you wanted an Accord? Those are easy to negotiate for, you can always find a deal. Shop around the town with different dealers and take a picture of the paperwork (even though they’ll say you can’t) and let them fight out for your business.

 

[HARRISON_3]

Finally an actual question. Damn...lol

I was thinking about getting a 2019 Honda Accord. Good gas mileage and affordable. I was also looking at the Toyota Tacoma

Why not save a few grand and get one that's just a couple years old?

You can easily find a certified pre-owned model (low miles, excellent condition) for much, much less.

Years ago (2014 and somewhat related to the Accord) I found an '06 Acura RL with approx. 16K miles on it for right about $16K all-in. That thing was in absolute pristine condition and was fun to drive (fast, all-wheel drive, premium sound system, leather, etc.)

I wasn't even in the market for a car at the time, but it was such a good deal I had to get it.

Point is, you can find a steal of a deal if you shop around.

 

[Revolver]

Open excel and figure this out for yourself.

 

[Michaelangelo]

Finally an actual question. Damn...lol

I was thinking about getting a 2019 Honda Accord. Good gas mileage and affordable. I was also looking at the Toyota Tacoma

just guessing but you’re looking at $1500 down and $250 a month. Negotiate from there.

 

[MoparOrNoCar]

Why not save a few grand and get one that's just a couple years old?

You can easily find a certified pre-owned model (low miles, excellent condition) for much, much less.

Years ago (2014 and somewhat related to the Accord) I found an '06 Acura RL with approx. 16K miles on it for right about $16K all-in. That thing was in absolute pristine condition and was fun to drive (fast, all-wheel drive, premium sound system, leather, etc.)

I wasn't even in the market for a car at the time, but it was such a good deal I had to get it.

Point is, you can find a steal of a deal if you shop around.

If he can't even take the time to figure out how a down payment works, he sure as hell isn't going to put in the time it takes to research and find the great deals that are out there.

 

[Brother Numsi]

Why not save a few grand and get one that's just a couple years old?

You can easily find a certified pre-owned model (low miles, excellent condition) for much, much less.

Years ago (2014 and somewhat related to the Accord) I found an '06 Acura RL with approx. 16K miles on it for right about $16K all-in. That thing was in absolute pristine condition and was fun to drive (fast, all-wheel drive, premium sound system, leather, etc.)

I wasn't even in the market for a car at the time, but it was such a good deal I had to get it.

Point is, you can find a steal of a deal if you shop around.

Yeah, I'm weighing all the options. Nothing is written in stone.

The car I'm driving now was pre owned and it still runs very well. I want to give it to my niece when she gets her driver's license because it's such a gas efficient and reliable car. I don't really want to get rid of it but I need something a little bit roomier after driving my Corolla for 8 years

 

[DaleBoca]

Why not save a few grand and get one that's just a couple years old?

You can easily find a certified pre-owned model (low miles, excellent condition) for much, much less.

Years ago (2014 and somewhat related to the Accord) I found an '06 Acura RL with approx. 16K miles on it for right about $16K all-in. That thing was in absolute pristine condition and was fun to drive (fast, all-wheel drive, premium sound system, leather, etc.)

I wasn't even in the market for a car at the time, but it was such a good deal I had to get it.

Point is, you can find a steal of a deal if you shop around.

You can always find deals from older cars. My only hestitation would be that some cars have higher miles than it is showing. Cars like Honda, Toyota’s and other less expensive cars, the mileage has been could’ve rolled back since they’re easy to do so. I’d personally want to have a car that has met with normally services for those years and the mileage is consistent. You don’t want a car that has only been serviced in its first year and the mileage shows 14k and a couple years later the car is only sitting on 20k with no service history. The due diligence needs to be done on all pre-owned(even certified, miles can still be hit back or even an accident that hasn’t been reported).

But nothing like that new car smell.

 

[rearnakedchoke]

Yeah, I went to college so I'm not a total idiot

Not sure if serious.