If it wasnt for the 4.9 rate I would have used my MBNA card. took advantage of 1.9 and in 12 mos I would have refian at CU for 6.24

 

I usually steal my vehicles, I don't like bills either. It also allows me to try all kinds of vehicles that I normally could not afford.

When that is not practical, I use extra money from my drug business. I do find some dealers willing to negotiate when I have a stack of $100's in my hand...

 

This could be a touchy subject.

$11,500 trade-in (owned free and clear)
$9,236 cash (personal checks, $1K deposit w/balance at close)
$10,000 financed through Honda Credit at 2.9% for 36 months

It's a great rate, but I still intend to pay the van off in the first few months for the same reasons Coleman_lot provided.

audreym, I doubt your dealer would have accepted payment in full via credit card, as this would cut another two or three percent off their take. And if I'm not mistaken, MBNA charges their customers a certain percentage of the face value to use their credit card cheques.

Rahal Honda wouldn't accept a credit card for my deposit. It was either a debit card or a personal check. I went the personal check route knowing that if the deal soured, I could always stop payment. I would have rather used a Visa or MasterCard, as their dispute resolution features would have protected me further.

 

I do not carry any credit cards. I carry only one American Express corporate card and my own personal debit/credit card.

The draw back is I having less money in the account. But pay off the car payment makes life simpler and easier.

 

We put almost $10K down and then financed the rest through our own bank financing. At the time, Honda wasn't having any finance promotions going on and couldn't match the rate we got from another bank.

We've often wondered if we should have taken out a home equity loan and just made double payments ....

 

I put 16k down cash and financed the rest.

Honda had NO deals at all. Best rate that I got
was through statefarm insurance.

I dont plan on having this financed for more than a year.

All my other cars I own outright. Hate owing money myself.

 

We could have taken money out of our investments, but chose to get a 5 year home equity loan instead. Our interest rate is only 5.3% and we are making much more than that on our investments. Since the dealer treated it as a cash deal, the actual transaction was a simple, 10 minute process. (Also, the van is in my name alone. Since I don't work, the only way to get it solely in my name-without having to transfer the title again-is to use home equity financing or just pay cash.)

 

I have to pay for this van?

I knew there was a catch...........

No cash down 4.8apr x 60 months = big payment!

 

Sold my old car, then use the cash and put some more cash in, then financed the rest.

 

i had to put $1k down to "reserve" the ody since the dealer had none on the lot. that was paid with credit card to get the end of the year rebate my visa offers, but i paid it off in cash right away. the dealer said they would not accept credit card payment over $2k due to the credit card company's fees.

the rest i financed with my auto insurance USAA, got a 4% rate for 60 months (they matched the new auto rate my local credit union was offering also).

all the accessories i got was paid for in cash.

 

100% Placed upon CC.

Had to pay17K when bill came and transferred 13K to another CC at 0%apr. That balance has been juggled a few times all at 0% with no balance transfer fees.......since Oct 31 2003

I got til July..then I got to flip it or pay it

 

Paid cash, but really really regret that. Should have taken the Honda financing, and used that cash to pay off my home equity loan which is at a higher interest rate... /sigh

 

I have to pay for this van?

I knew there was a catch...........

No cash down 4.8apr x 60 months = big payment!

what are you trying to do to me!!! Remind me to never read while drinking PEPSI

Yeah your right.... $707.51 for me

 

Paid cash, but really really regret that. Should have taken the Honda financing, and used that cash to pay off my home equity loan which is at a higher interest rate... /sigh

Yes next time taken the AHFC deal as you can always pay it off whenever....

 

I took out a home equity loan, now I’m getting ready to write off the interest.

Payment is super low and I get all my interest money back.

"To each his own" but I would never invest cash in a depreciating asset.

 

what are you trying to do to me!!! Remind me to never read while drinking PEPSI

Yeah your right.... $707.51 for me

Ouch..! I'm sorry to hear it. If you multiply it by 3, it can be a house payment. Talking about house, you got to love it. It is climbing like craziness. It slowed down quite a bit starting late last year. I hope that I can find home loan with low interest rate in June. I am moving to our new home in June. My mother in-law will be staying with us. I have to build a house with Casita. She'll stay there. I hated moving, but I got no choice. We'd see how it turns out.

 

I usually steal my vehicles, I don't like bills either. It also allows me to try all kinds of vehicles that I normally could not afford.

When that is not practical, I use extra money from my drug business. I do find some dealers willing to negotiate when I have a stack of $100's in my hand...

I like to give the dealers my Intimindating Black Man look when my wife is'nt looking, so of course when she sees it she just gives me "The Look" wacks me upside the head. I give them the credit union check and sign the paper work. Plus I really screw things up when I give the sales person my heart warming smile my wife loves so much. So next time you see a big black guy in a Honda dealer pratcing his intimindating look at the sales staff don't worry its a Honda dealer and his wife will keep him in line.

 

One month at a time.....until 2013.... or most likely earlier...

 

Small amount of cash down and then took advantage of the 2.9% financing (shorter time period).

I could have paid for the whole thing but, with interest rates that low, I can make more than that in investments.

 

Financed with "O" down. I'd rather invest my cash to accounts that will give me enough profit to pay my monthly auto loan and a little for my other expenses.

 

Have a 2003 4 runner...still owes around 20+K..Honda paid it off then gave me 2005 Touring R&N with 0 money out of pocket and 2.9% for 60 mos. ended up with a $621.00/month....will be mine in 2010...wahhhh thats 4 more years!

 

All, just want to say if you financed, you are in the majority who do not just have $30some K laying around to fork out. Even if you did, if you can get a interest rate low enough, why give up cash that could be useful say if you lose your job or something else happens. Dont take me wrong, those with the cash flow to "buy" a vehicle outright, KUDOS, just look at the big picture if you can find a low rate.

 

I like to give the dealers my Intimindating Black Man look when my wife is'nt looking, so of course when she sees it she just gives me "The Look" wacks me upside the head. I give them the credit union check and sign the paper work. Plus I really screw things up when I give the sales person my heart warming smile my wife loves so much. So next time you see a big black guy in a Honda dealer pratcing his intimindating look at the sales staff don't worry its a Honda dealer and his wife will keep him in line.

I've got a mental picture going of this...Especially the wife giving you "The Look" and whacking you upside the head! If you've got to practice your "Intimidating Black Man" look on someone, it might as well be a car dealer!!!!!!

coleman_lot, Holy Cow!!! Just the thought of a $2100 house payment gives me the chills!!!!

 

$2100 a month is cheap!!!

 

$2100 a month is cheap!!!

Yes, $2100 a month is cheap, but it is in my dream. It is more like $2500 a month. I'll need a lot of payments up front to get to $2500 a month.

My current saving account is on the 3.8%. If the interest rate of the car payment is on the 2.9%, you still can profit 0.9%. Nontherless, I would rather have less bill and less headache.