Save your cash and don’t get a credit card cash advance. I have a line of credit (not a home equity line of credit) through pc financial at %5.25. On $5k, monthly interest is around ~$25.00… minimum payment is less then $200.
I’ve been re-arranging my household to minimize monthly expenses, ie, pay insurance in one lump sum, buyout the rented water heater, etc… I wouldn’t recommend taking a loan to buy a car, I’ve done it too many times and never again.
Jokes aside, my advice: do not EVER get credit cards, line of credit, or loan money from a bank ever.
If you’re smart buy only when you can afford something AND save your money by yourself. Honest advice.
Do not live the life with a mentality of “you know what I’ll get it now but I’ll pay later” and have it sum up on you… ever! It’s a lie and curse on the individual and the whole of society. This is why everyone is in unsurmountable and unrepayable debt all the time; no one truly ever owns anything, it’s all in the banks’ possession. It’s literally self-conscious indulgence of being a slave. Actual historical slavery began with debt that people had to pay, but because the debts were unpaid it carried on generation to generation where people were born as slaves until slavery itself became a business (buying & selling slaves).
I only have one visa and one line of credit but stupid none the less.
i have a visa no problems im good with my money i dont want any type of cash advance same as line of credit i dont want that becuase i will have money to spend as soon as i pay it off so i may just do a basic car loan and pay it off with-in one year
No one knows your situation but you… just be smart about it.
If this was a loan for 10k or more for a vehicle I do not suggest it. If you do however bring in 2k-3k or more a month without any major bills… 5k is nothing to pay off. If your barely getting by or rocking min. wage, forget about it and start saving your pennies.
I know people that have taken small credit to buy a vehicle when they found a terrific deal, however their situation was different, they were in a situation to easily pay it off quicktime but they also understood their finances and paid jacked shit in interest. They actually had money in high interest accounts and was making money with their money. So instead of taking their money out they got a cash advance with basically 0% interest.
It all depends on your situation.
Straight talk though you seem like you have no clue about finances, honestly from what you wrote you seem like you haven’t really looked into the costs or anything and it seems more like an impulse buy. Your looking at around an extra 1500-2k+ in further costs to import and currency conversion.
Credit is credit, a basic car loan is 10x as bad the interest rates alone you’d be paying insane amounts.
I would suggest you continue saving and not get a loan after reading what you wrote. Be real and don’t let a nice shiny car cloud your judgement.
I agree with not getting a car loan, or any kind of credit. I paid cash for my kouki, cash for the swap then cash for any upgrades. I dont pay anything per month. Except my insurance to drive it.
That took me 5 months to save, where some people would make a loan like that for 5 Years.
ok fair enough i mean i would want to pay off the 5gs with a one year loan or w/e ive saved about $3500 car cost 7g area plus duties and what not just dont want a rusted out car i think with this advise i will wait until after winter and just pay the majority in cash with very little on a low intrest loan/credit card what have you thanks for the advace guys
You can use credit, but not for things you love like a “toy” car. You can lease a daily, beater etc… That’s different. When you mix money and pleasure, it ruins it. Only buy your toys in cash, always. It’s like the golden rule #1.
i think thats what i`m going to do around spring time when i can pay cash