Down payment, how much?

[hognutz]

Originally Posted by fiascoes1

I think everyone is basing it off of scott's quote where he voted the reasonable price would be 57,500. add around 6k for taxes, 2k for GG tax, and financing

ohh okay. yeah no tax in oregon can pay cash so no finacing. 57,500 I think I will pass. 55k I would be on the fence. 52,500 and Under I am I will buy I think. got the local dealer to aggree to MSRP if they get an allocation.

[fiascoes1]

Originally Posted by hognutz

ohh okay. yeah no tax in oregon can pay cash so no finacing. 57,500 I think I will pass. 55k I would be on the fence. 52,500 and Under I am I will buy I think. got the local dealer to aggree to MSRP if they get an allocation.

will you have to pay the gas guzzler tax? lucky for you, I might have to take a drive and buy one there

[hognutz]

Originally Posted by fiascoes1

will you have to pay the gas guzzler tax? lucky for you, I might have to take a drive and buy one there

no sales tax but yeah gas guzzler is nation wide can't avoid that without buying used.

good reason to wait a year and buy used though. didn't have to worry about the guzzler tax on my corvette. that is 100% money lost right out the gate.

[Barry626]

Originally Posted by Z4me

No I have a line of credit like a credit card with my
banker. The rates are typically lower then a car loan
would be at the dealers. There is no penalty on paying
it off early, and I can declare the interest accued as
a tax benefit as well. I plan on paying that loan off
in about a year to a year and a half.

That is were you are wrong & better read the fine print!
I have $100.000.00 line of credit on my house @ 2.34% for 10 years.
There is a penalty if you try to pay off before three years @ least with Citizens Bank there is!

[BiggFoot]

I have planned all along to put half down and finance the other half, but honestly, if the stock market continues this recent rebound through the end of the year then I will sell some stock in early Jan and just pay cash.

[Z4me]

Originally Posted by justa25thTA

So your going to be financing a car on a house note? Like a 15 or 30 year note?

Originally Posted by Barry626

That is were you are wrong & better read the fine print!
I have $100.000.00 line of credit on my house @ 2.34% for 10 years.
There is a penalty if you try to pay off before three years @ least with Citizens Bank there is!

Wronge I have used my home equity 3 or 4 times
over the past 10 years. there is no time period
involved at all, as long as I pay the minium the bank
is happy. If I want to pay off in full there is no penalty
for doing this. It sounds like your talking about a
traditional second mortgage which has alot more paper
work, and processing fee's which I don't have with
my home equity loan. I have a line of credit which is
backed by the equity in my home.

[BiggFoot]

Originally Posted by Z4me

I have a line of credit which is
backed by the equity in my home.

Nice thing about home equity loans is . . . you can typically write off the interest!!! If I end up borrowing any money, I am considering this route as well.

[Z4me]

Originally Posted by BiggFoot

Nice thing about home equity loans is . . . you can typically write off the interest!!! If I end up borrowing any money, I am considering this route as well.

Indeed that' another reason I use it

[fiascoes1]

Originally Posted by fiascoes1

The reason I say 60k out the door is; say the car costs 54k add about 5k for taxes, add another say 2k for GG tax, and if you finance, add another 5k, therefor your right around 66k.

I was really close I said 54k