FCPHA: Big Table in the Back

[dolfan 0]

I thought they were bankrupt?

No idea.

[crazyIvan 0]

This is similar to the situation we are in. We are looking to pay mostly if not all cash for this vehicle. However, Honda is offering 2.9% financing for 36 months. We can take that and put the cash back in a CD with ING making 4.5% interest. Instead of paying cash, I think we will finance it for 2.9 and get 4.5 on our cash.Are there hidden pitfalls to this plan I'm not seeing?

just cash flow. you will be getting the interest (I haven't had money in a CD in quite a while, don't remember if you can withdraw interest or if it has to stay for the term of the CD) at a higher rate than your loan, but you need to pay Honda interest plus principal, so the principal needs to come from somewhere.

[goldie79 0]

Yep, it rocks.As far as I know, they pretty much just fly to and from Vegas. They're usually pretty cheap flights, too. And since they fly out of Fresno, I'll be using them every time I make a trip to Vegas. Which is cool because once you fly with them a few times they start sending you promotional offers that make the flights even cheaper.I recommend them.

Cool thanks.

I thought they were bankrupt?

Was that Horizon?

[Cool Runnings 0]

This is similar to the situation we are in. We are looking to pay mostly if not all cash for this vehicle. However, Honda is offering 2.9% financing for 36 months. We can take that and put the cash back in a CD with ING making 4.5% interest. Instead of paying cash, I think we will finance it for 2.9 and get 4.5 on our cash.Are there hidden pitfalls to this plan I'm not seeing?

They'll sometimes charge you for the great rate they're "giving out". This is standard on the "0% financing" that's often touted. Kind of like points on a mortgage. One way to avoid all the hidden costs is by telling the salesperson to stop dealing in terms of your monthly payment. Tell him the only number you want to hear is the bottom line price of the car. The monthly payment should make no differenc if the rate is set.

[crazyIvan 0]

Cool thanks.Was that Horizon?

No, it wasn't Horizon, they are a "subsidiary" of alaska. And I think I'm wrong about allegiant. There was some "start-up" carrier that was focused on Vegas a couple years back, i'm thinking. Can't think of the name.

[renaedawn 1]

just cash flow. you will be getting the interest (I haven't had money in a CD in quite a while, don't remember if you can withdraw interest or if it has to stay for the term of the CD) at a higher rate than your loan, but you need to pay Honda interest plus principal, so the principal needs to come from somewhere.

Yeah, cash flow won't be a problem. Financing the whole thing for 36 months still puts the payment at an amount that is not a problem with regards to living expenses and savings amount budgeted per month.Of course, this is all assuming we buy the Civic and not something more expensive.What about your thought about leasing though? Why would you lease a car? Doesn't that always put you in a negative equity situation?

[crazyIvan 0]

Found it. National Airlines.

[dolfan 0]

I would appreciate any/all comments about buying or leasing a vehicle.Any thoughts?

Without offering any useful information or defense for my opinion, I would never lease.

[renaedawn 1]

They'll sometimes charge you for the great rate they're "giving out". This is standard on the "0% financing" that's often touted. Kind of like points on a mortgage. One way to avoid all the hidden costs is by telling the salesperson to stop dealing in terms of your monthly payment. Tell him the only number you want to hear is the bottom line price of the car. The monthly payment should make no differenc if the rate is set.

Right.The loan calculators on the web show a 36 month payment at 2.9% interest on 20K at somewhere between $550 and 600. That's completely doable so the only thing I'm concerned about is the bottom line of that car which should be around 20K since sticker is 21,500 or so and invoice is 19K or so.

[crazyIvan 0]

Yeah, cash flow won't be a problem. Financing the whole thing for 36 months still puts the payment at an amount that is not a problem with regards to living expenses and savings amount budgeted per month.Of course, this is all assuming we buy the Civic and not something more expensive.What about your thought about leasing though? Why would you lease a car? Doesn't that always put you in a negative equity situation?

Leasing, in my case, preserves my capital in investment money. Cars are a rotten investment, in most cases. The capital erodes as the value of the car decreases. If an investment can mostly cover the cost of the lease, then it's like renting a car. You pay as you drive it, when you're done driving it, you give it back. I would then theoretically have all (or most) of my capital. And, this way, every 3 years or so I pick out my next toy to drive for a while.

[Smacciemac 3]

Found it. National Airlines.

I flew on that airline my very first time going to Vegas. The plane was tiny, old and dirty.. there were still dirty ashtrays built into the armrests.. lol

[crazyIvan 0]

Right.The loan calculators on the web show a 36 month payment at 2.9% interest on 20K at somewhere between $550 and 600. That's completely doable so the only thing I'm concerned about is the bottom line of that car which should be around 20K since sticker is 21,500 or so and invoice is 19K or so.

The market may be different in OKC, but my son just bought the civic coupe at 2K below invoice (17.2K). I would lower your sights a bit in terms of what you can get the car for.

[goldie79 0]

I flew on that airline my very first time going to Vegas. The plane was tiny, old and dirty.. there were still dirty ashtrays built into the armrests.. lol

Ashtrays on airplanes? Wow. Oldschool.

[Smacciemac 3]

Ashtrays on airplanes? Wow. Oldschool.

Hence the fact that they are out of business lolThey were cheap as hell though flying out of Newark to Vegas!

[tall0n 1]

1. Yes I do but I give a shit because like all major decisions, I get sucked into it. I can't stay out of it because it affects a major major major chunk of money.2. Because you have no idea how frustrating it is to have discussions about cars for months on end with no resolution. I'm an action girl. Quit talking about buying a car for months if you're not going to buy one. Once we decide to buy a car, then let's buy one. Let's not linger about it for 6 months.3. Yes but I can't not care.

1. Once you agree to a price as long as you don't go over that price. you are OUT! yes, it's a major MONEY decision. And the PRICE should be talked about. not what brand he's getting. sheesh! 2. I do know how frustrating it is. I agree. i'm an action person. i think of something i want and i get it. 3. Yes, you can "not care!" You just choose to care in real life. No one is holding a gun to your head saying, "CARE DAMN IT!" And if they are, Let me know. I have bigger guns!And yes, all of us are saying the same things. Ozz and Dan, Quit being pusses and get what you want!

[tall0n 1]

Thanks. Best vehicle I have driven so far. Handles nice, drives quietly. Leather seats, sunroof, power everything. Chicks love it.

But then ya'll would have the same vehicle. what if he bought the same color as your shoes! The HORROR! The HORROR!

I would appreciate any/all comments about buying or leasing a vehicle.I've never leased a car before. I've always been in a strong equity position on whatever vehicle i have, so trading it in on a lease just doesn't make sense. Now, however, I'll have cash in the bank. I could buy a car with little or no loan, or lease something, making interest off the money that probably would pay 1/2 the cost of the lease.Any thoughts?

I know little of this. but i always heard, if your willing to drive the same vehicle for years, buy. but if you want a new shiny vehicle every year or so, lease.

[Ukosumu 0]

Buy vs Lease

[crazyIvan 0]

Thanks. Best vehicle I have driven so far. Handles nice, drives quietly. Leather seats, sunroof, power everything. Chicks love it.

There's just something women like about a Pickup Man

[mulhs82 2]

I don't see why it's a problem either.I understand Dan being a little perterbed because we didn't like the car last week, he did and we had kind of an unspoken agreement that we wouldn't be buying the same thing. In his mind, he called dibs on it without any argument or anything because according to our last conversation we didn't even like it. Then out of the blue (again, from his perception) our position has been completely reversed.

There are 2 things with the bolded part...First the fact that it was unspoken. You all need to verbalize more. Second, is what is your definition of the "we" is it you and them or you oz and them?Anywho, I say find a car that fits everything he is looking for and make that the car. If anything you can get basically the same car but a different make (honda vs chevy vs ford....etc.)My Sonata looks just like a handful of different cars on the road and I'm sure that they have a lot of the same features.

[goldie79 0]

Is this the car?

[goldie79 0]

There's just something women like about a Pickup Man

Well church girl loves the truck. So does her sister. Will I let them drive? Probably not.

[crazyIvan 0]

Well church girl loves the truck. So does her sister. Will I let them drive? Probably not.

the correct response is "bend over baby, I'm drivin'!"

[goldie79 0]

the correct response is "bend over baby, I'm drivin'!"

haha. That too.I think I might start going to church.Umm no.Maybe.

[renaedawn 1]

The market may be different in OKC, but my son just bought the civic coupe at 2K below invoice (17.2K). I would lower your sights a bit in terms of what you can get the car for.

If it's even lower that would be even sweeter.How do you get below invoice price?

[crazyIvan 0]

If it's even lower that would be even sweeter.How do you get below invoice price?

I went to www.edmunds.com, then used them to request a quote from dealers in the area. Without any haggling, they all responded with the 17.2K price (or within 100 or 200 of it). Normally I wouldn't settle for a dealer's initial price offering, but with the internet pricing, and it was well below listed invoice, I suggested my son just take the price and be happy.