Had a few car loans done in the last month and they were only around 3-4%
Come today and it's about the 6% mark.
Loan is about $70-90k
Has anybody gotten a decent fixed rate in the last week or so?
Mine is over 60 months no balloon payment
Loans for Cars What Rate Are You Guys Getting?
CalmLemons on 25/05/2022 - 23:33
Comments
Maybe a Ford Raptor on business expense and then for causal bicycle carrying. https://www.ozbargain.com.au/node/543560
Will also need to cater for that $3000 fine as well https://www.ozbargain.com.au/node/521404
90k loan … to buy a raptor… dudeeee
Loan is about $70-90k
For a depreciating asset ?!
Obviously a high yield AMG or a soon to be money printing self driving Te$la. Duh.
Going buy post covid resale value , its not really depreciating asset these days.
*Covid resale value.
Secondhand car prices have been dropping for a while now.
Are you not the Time Lord victorious? Just go back in time and short some stocks.
I'd personally stick with your TARDIS though. Where you're going, you don't need roads. 😏
If you can time travel, why get an extended warranty? lol
Buying a toy with other people's money is better than paying with cash.
*Buying a
toyheavily depreciating asset (especially if an ICE) with other people's money is better than paying with cash.https://carbuzz.com/news/used-teslas-officially-costs-more-t…
Used Teslas Officially Cost More Than New Ones
APR 29, 2022 BY GERHARD HORN
Expect to pay a premium if you want a Tesla right now.You might have noticed that the used car market is currently out of control. The problem is now so bad that even used EVs are retailing for more than new cars.
Buy a new $TSLA and profit.
That's america let's not forget
And an EV
Internal combustion cars are going down the sh1tter
@Drakesy: The prices of new $TSLA are global.
https://zecar.com/post/tesla-model-3-price-increases-again-i…
2022 Tesla Model 3 price increases again in Australia, up to $4000
By Henry Man April 4, 2022$TSLA can continue to pamp the price of new cars which will affect the used car market.
Actually certain common ICE cars have skyrocketed in price, have a look at low kay Subaru WRX STI. Decent ROI, I'm closing on 100% gain now
Then certain JDM $#!Tboxes have gained way more.
Yep the 1% of the market that has been hyped, supras, skylines, sti's etc.
The other 99% of the market is returning to the depreciation norm.
if you cant afford a car outright to impress your buddies, then you shouldnt
Paid cash, no loan.
If you have to loan, consider extending mortgage but be aware of long term costs and pay it down appropriately
Cashout refinance and pay it down ASAP would be the only type of financing you should consider.
NEVER get a loan for a car
Offset account? Similar effect when drawing from there.
Funniest post on seen on this site for awhile.
Here I'm driving a Kia turbo I bought from selling my old Nintendo games.
what is a kia turbo lol
I reckon should stretch it out to $150k, given inflation has hit the car market pretty bad.
obvious no one on here as ever owned a business lol
It's common knowledge that most ozbargainers earn 300k+ through an employer.
I am not surprised, there are a few medical registrars on here from what I have read, so 150-200k is not unusual.
Then there are the ones that uses to be registrars and are now a specialist. So, 300k+ definitely exist.
In terms of salaried employees, a few high income earners that I know are OzB regulars.
Of coz, it is a still short of the 500k+ Maserati crowd on whirlpool and OCAU.
Depends on size of the business. Most small set ups will drop cash upfront.
Have you considered buying a Camry with cash instead?
Oh. How dare you mentioning Camry when the heart is set on the AMG.
90k loan for a car? Dangggg