They would have to be. It just amazes me when I think about it because I look at it differently. My priority was get a house, then worry about the toys and cars.
Finance vs paying cash?
Discussion in 'Ask An Owner Operator' started by magellan, Feb 17, 2016.
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Lone Ranger 13 Thanks this.
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New car purchases are a slightly different animal, because of the volume out of a dealer you have in house financing that is willing to take a bigger risk, in a situation like that the lender is more worried about payment history than debt to income ratio, I know it doesn't make sense, but that is what is happening in those situations, plus they are probably paying 15-20 percent interest.
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Ya its crazy nowadays. I've seen 96 month car/bike financing around. Usually on higher end cars and bikes. They convince them the vehicle's higher residual value makes it work.
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AModelCat Thanks this.
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