Crap, just found out from my credit union that they do not give loans for out-of-state cars!
05-17-2004, 09:26 AM
#1
Elder Member
Thread Starter
Join Date: Jun 2003
Posts: 11,377
Likes: 0
Received 0 Likes
on
0 Posts
Crap, just found out from my credit union that they do not give loans for out-of-state cars!
This is bad news, they offer a 3.9% APR on used cars, which is great. However, they won't give me a loan if I want to buy a car out of state (like Chad Block's). Anyone know of another source to get a loan?
Now that I think about it, I could possibly buy the car with cash, but I'd be a little poor for a couple months. Should I just try to do that?
Now that I think about it, I could possibly buy the car with cash, but I'd be a little poor for a couple months. Should I just try to do that?
05-17-2004, 09:33 AM
#3
AudiWorld Expert
Join Date: Oct 2001
Posts: 30,401
Likes: 0
Received 0 Likes
on
0 Posts
Try any peoplefirst or e-loan, and then refi with your credit union. Didn't you say you were saving
for a house? If you are, finance the car, and save for the downpayment. Financing for three-five years is better than financing for twenty-thirty years.
05-17-2004, 09:36 AM
#4
Elder Member
Thread Starter
Join Date: Jun 2003
Posts: 11,377
Likes: 0
Received 0 Likes
on
0 Posts
Along the same lines, can I refinace a car that I already own?
Meaning can I buy with cash, then get a loan out once it's registered in CA? I suppose you are right though, I can get a loan and then refinance once the car is out here.
I am saving for a house, not anytime soon, but I need to have a lot saved up if I want to get one within in the next few years in the Bay Area. Thanks for the advice...
I am saving for a house, not anytime soon, but I need to have a lot saved up if I want to get one within in the next few years in the Bay Area. Thanks for the advice...
Trending Topics
05-17-2004, 11:10 AM
#8
AudiWorld Uber User
Join Date: Mar 2000
Posts: 66,965
Likes: 0
Received 0 Likes
on
0 Posts
I would.
As ritter-san pointed out, one is a depreciating asset, and the interest is not tax deductible, while the other is an appreciating (hopefully) asset, where interest is tax deductible.
The point is, if you're going to have to be saddled with debt (most of us will), the mortgage is the lesser of two evils.
The point is, if you're going to have to be saddled with debt (most of us will), the mortgage is the lesser of two evils.
