Automotive News Discussion

[JPolen01]

Nailed it with the adjusted inflation price. A W/T should be under $20k in my opinion.

Even Chevy is over $22k on a 2018 W/T - https://www.cars.com/vehicledetail/detai.../overview/.

[D_Eclipse9916]

Trucks and especially used trucks are hot right now. 84 month loans are not helping.

[JPolen01]

I would see people stretching themselves on used cars at Mid Atlantic when I worked there all the time. Taking out 72 month loans. I thought that was insane. 84 is even worse.

[ViPER1313]

Relevant - https://www.caranddriver.com/features/wh...ck-feature

[ViPER1313]

I would see people stretching themselves on used cars at Mid Atlantic when I worked there all the time. Taking out 72 month loans. I thought that was insane. 84 is even worse.

Want a 108 month term? http://www.greatmeadowfcu.org/personal-b...uto-loans/

[BLINGMW]

Lord. Anything beyond 4 years is a bad idea, especially given that interest rates are usually higher on the 60 month and up offers.

[rherold9]

Diesels are about the only trucks worth a longer term loan if you don't care about pay more interest. They'll most likely hold their value.

I've had my truck for over a year and have put about 13k miles on it. Still worth the same amount as when I bought it.... So yeah may as well buy new and wait for incentives. I'm seeing 8-12k off brand new 2018-2019 trucks for year end deals...

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[Sijray21]

wow... 9 years on a new car and 7 on a used car... wtf...

[.RJ]

that's bonkers, but I dont even have a car payment so....

[ScottyB]

wow... 9 years on a new car and 7 on a used car... wtf...

gotta pay to play the Look Successful Even If You're Underwater game.  its a national tradition.

[Senor_Taylor]

I have a 72 month on the Gti...

[JPolen01]

I have a 72 month on the Gti...

Not even we believe this. You've had better trolls...

[rherold9]

I have a 72 month on the Gti...

Not even 84 months?

[Senor_Taylor]

I have a 72 month on the Gti...

Not even we believe this. You've had better trolls...

I'm dead ass serious. Wanted less obligation on the monthly payment. I'll pay extra when I want.

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[Sijray21]

i can believe 72mo for the loan. if the interest rate is low it makes some financial sense. a very fiscally conservative coworker took out a 72mo loan on his Accord Coupe 6spd because it was 0% interest.

i took out a 60mo loan on my GTI when i first bought it. The interest rate was low and after that was when i learned how important it was to not take out car loans that long (hell, it didn't even really hit me how important that was until a few years ago). It was nice having a nicer/new car though with the latest tech.

Different strokes for different folks though. i now prefer positive monthly cashflow, which makes me very hesitant to take out another loan.

[.RJ]

long loan terms at low interest are fine IMO. higher interest over 5+ years means you're spending a lot of extra money to own the car.

But the 84-96 month loans seem too far? But maybe if you do the math and its fine, and you have a decent down payment and yore never upside down on it?

[ViPER1313]

I would definitely take out a 96 month loan @ 0% interest. Too bad that is not a thing.

[JPolen01]

I'd like to see the difference in interest rates from a 60-72 month loan.

[Jake]

The thing is, I bet a lot of people who are doing these 84+ month loans are putting as close to $0 down as possible. I'm in a Facebook group and we've seen it there a LOT with members or their siblings. One guy's sister bought a brand new Jeep Renegade a few years back for not-much down, 84 months, and proceeded to both run it into a bunch of things and rack up like 30k miles a year on it. It now has high mileage, is beat to death, is dirty as fuck inside, and she wants to buy a new car but cannot comprehend why it's worth almost nothing.

[ViPER1313]