rick81721
Lothar
This is correct. Nobody checks tho.
Unless you get audited. Bad advice.
This is correct. Nobody checks tho.
CorrectNope. HELOC interest is only tax deductible if the money is used for home improvement.
Thanks guys.
I talked it through and did some math. Based on the Down payment and the fact he doesn’t plan to run the course of the loan and will pay it off early (72 months but payoff within 2 years or so) the rate may not even really matter.
The idea was to help boost his credit more but get him in a better car that’s not 10 years old with 90K miles - and the newish one also is a 2021 AWD with only 7500 miles
(Mazda3 hatchback Premium plus turbo)
Thanks yup checked those both off the list already but I will double check and tell them Pat sent me.make sure there isn't an early payoff penalty, or that the interest is pre-calculated into the principal. so an early payoff actually costs you money.
Thanks yup checked those both off the list already but I will double check and tell them Pat sent me.
make sure there isn't an early payoff penalty,
10 years old with 90K miles
In NJ a pre-payment penalty cannot be applied to a consumer loan. Business loan is a different story.make sure there isn't an early payoff penalty, or that the interest is pre-calculated into the principal. so an early payoff actually costs you money.
Yeah he’s been saving for a “newer” car if it was me I’d keep the one he has.I'm about 90% sure this is illegal in nj. (feel free to prove me wrong, i like learning new things)
ok 10 years old is some age, but 90k is nothing for most cars made this century (ok the century is only 2 decades old, but still)
I am in the market for a van or a truck as I am driving a car I inherited that was in an accident. The car runs and drives fine, just limited as to what it can haul and looks like I should be driving to an ER or body shop.Im not looking seriously, but im get all these ads for 0.9% on toyotas, hondas, etc.....not sure what thats about. For example.
View attachment 222902
Unless someone gives me something below ~3%, id pay cash.....NFW id ever take out a 6-7% loan on anything
Im in a similar boat...my focus I bought new 11 years ago now has 182k on it and while it runs perfect....someday it is going to die and id rather not have to find another car while my only car is dead.....so I have been looking at used f150s as an extra vehicle. Get me thru a few more years....I think there will be a correction in time. Plus electric cars are sucking less and less everyday.I am in the market for a van or a truck as I am driving a car I inherited that was in an accident. The car runs and drives fine, just limited as to what it can haul and looks like I should be driving to an ER or body shop.
That being said I am sitting on the sidelines longer, the used car market keeps dropping monthly and the car lots are filling up. Just looking at Jeep gladiators, they have come down an additional $5-6k compared to when I looked three months ago, when they were dropped by several thousand then as well.
In the past month or so a good amount of used vans have hit the market at reduced pricing. Unfortunately I think we are only in the beginning of a size-able correction.
i dislike the tactics that they use -
Sales guy: Are you considering financing
W1f3: Yes, 100%, we want a 0% interest rate
Sales guy: I don't think we can get it to zero.
W1f3: try.
I just sit back and watch - i'm in charge of panel gap inspection.