Please help/ Discuss
Weighing my options

Balloon financing would be a bad idea on a car. It is going to depreciate faster than you are paying the loan value down. When you try to sell it before the balloon payment you will be upside down by quite a bit.


Leasing works well on more expensive cars that you don't want to take the depreciation hit on.

Lease for sure if you don't want to just finance it normally.

pay cash. cant afford it? wait then pay cash. you will thank me later.

Sucks not having credit huh

Paying cash doesn't mean you have bad credit lol.

have enough worth that if i applied for a loan with no fico. they would give it to me based purely on my worth/income. it doesnt suck actually. im really anti debt is all.

This post was edited by Blargfish on Jan 7 2014 08:25pm

Not true at all lol... common misconception.

Just because you have money in the bank or make decent money doesn't = someone approving you for a loan.

Now if you have enough money to put something like 50% of the loan upfront im sure you could do something.

thats just about what you HAVE to do to as a first time buyer now'a'days anyways..

They check credit scores not to see how much money you have, but to see how reliable you are on your payments. And the only way to prove that you're reliable is to establish credit.

If you're good with money, just save up cash, if you don't want to be in "debt". But I hope you're buying used, because if you go buy a new car with cash, you are an idiot.