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Old 03-16-2017, 06:40 PM   #15
KLR ZL1
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Originally Posted by Mr. Wyndham View Post
I'd have thought you'd sell your soul!

Just....saving...budgeting...sizable down payment, and a good rate on a loan.
Same here. A lot of equity built up through the years with keeping vehicles till paid off.
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Old 03-16-2017, 06:52 PM   #16
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Lease $629 w/$10K down. No more daily Starbucks runs & I canceld DirectTv. $380.00 alone there.
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Old 03-16-2017, 06:53 PM   #17
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This is actually really interesting to know. I just applied for financing through gm so I can get all the current incentives and got pre approved. I haven't received figures yet, but I'm curious to see what apr they will offer me. I have purchased all my cars cash in the past but with this amount of money, I think it makes more sense to finance it at a low rate and try to invest that cash instead.

Who has actually financed with GM Financial and what APR's did you receive?
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Old 03-16-2017, 06:56 PM   #18
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Originally Posted by GarnetRedJuan View Post
This is actually really interesting to know. I just applied for financing through gm so I can get all the current incentives and got pre approved. I haven't received figures yet, but I'm curious to see what apr they will offer me. I have purchased all my cars cash in the past but with this amount of money, I think it makes more sense to finance it at a low rate and try to invest that cash instead.

Who has actually financed with GM Financial and what APR's did you receive?


Standard rates. 3.9% X60 months 4.9% for X72. They lease pretty well FYI. 60% residual. Money factor is 2%
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Old 03-16-2017, 06:57 PM   #19
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Thanks for the responses gents.

I'm thinking of throwing 15-20k on a credit card vs down payment (then pay it off) so I can get the cash back / miles. Was curious if anyone had similar ideas.
Most dealerships cap what you can put on a card at 2-4K. If you want to put more they will charge you the fees they incur, usually anout 3-4%, so not worth it. Many dealerships have signs posted to that effect, and use the credit cards just as a way to get a deposit while you are in the building.
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Old 03-16-2017, 06:57 PM   #20
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I plan to put 10-12k down, get a 5 year loan and pay it off in 3. When I first looked at rates there wasn't any benefit to go 4 or 3 years. At least if I do 5years and something comes up I am not forced in the higher payment.
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Old 03-16-2017, 07:01 PM   #21
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Originally Posted by GarnetRedJuan View Post
This is actually really interesting to know. I just applied for financing through gm so I can get all the current incentives and got pre approved. I haven't received figures yet, but I'm curious to see what apr they will offer me. I have purchased all my cars cash in the past but with this amount of money, I think it makes more sense to finance it at a low rate and try to invest that cash instead.

Who has actually financed with GM Financial and what APR's did you receive?
GM is giving me 4.9 with great credit. I plan to get the $1K cash down payment bonus and either pay off early or refinance with the local credit union with rates as low as 1.99% or 2.99% Depending on term. GM rates currently are not cheap.
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Old 03-16-2017, 07:01 PM   #22
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Originally Posted by IneedAZ View Post
I plan to put 10-12k down, get a 5 year loan and pay it off in 3. When I first looked at rates there wasn't any benefit to go 4 or 3 years. At least if I do 5years and something comes up I am not forced in the higher payment.
that makes sense? anybody persuaded into a down payment? since im not paying the car in full, i would like to do 0 down. Im not sure if dealers/financing even allow that for most people. I know its all in the negotiation. I told my sales rep I want to get figures with 0 down as an example.
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Old 03-16-2017, 07:07 PM   #23
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Originally Posted by GarnetRedJuan View Post
that makes sense? anybody persuaded into a down payment? since im not paying the car in full, i would like to do 0 down. Im not sure if dealers/financing even allow that for most people. I know its all in the negotiation. I told my sales rep I want to get figures with 0 down as an example.
I got zero down again to avoid the need for certified checks, etc.. I plan to immediately kill at least half of the loan right away with the sale of an SUV in May, etc...

Zero down is less of a negotiation play and more how does your income ratio match up with your debt for your house and this car. That and your credit score. In the old days, thay didn't want this monthly payment amount for both the car and the house to be over 38% of your income.
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Last edited by MoreSpeed; 03-16-2017 at 11:39 PM.
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Old 03-16-2017, 07:11 PM   #24
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Originally Posted by le1999 View Post
Thanks for the responses gents.

I'm thinking of throwing 15-20k on a credit card vs down payment (then pay it off) so I can get the cash back / miles. Was curious if anyone had similar ideas.
I tried something similar to that at my dealership for the exact reasons as you, and it was a resounding no-go. I think you can put a little bit on your cc, but not that much.
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Old 03-16-2017, 09:05 PM   #25
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Talking

Just going to spend the grandkids inheritance!
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Old 03-16-2017, 09:09 PM   #26
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I tried something similar to that at my dealership for the exact reasons as you, and it was a resounding no-go. I think you can put a little bit on your cc, but not that much.
I've tried several times to put payment on credit cards for the air miles or even the GM card for the purchase of my next car. No Bueno!

Occasionally, they will let me put the extended warranty on the card if I get one.
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Old 03-16-2017, 10:01 PM   #27
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Paid in full. I hate debt.
Debt = Evil ( most of the time).
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Old 03-16-2017, 10:52 PM   #28
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Cash

Ok not as in Benjimans in a hard case, but instant full payment.
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