Noob's Guide About Car Financing.

I facepalm at all the financial idiots I've met in Atlanta. Have these guys even watched a Dave Ramsey video, or read a book from Robert Kiyosaki? Even if they haven’t, it doesn’t take a genius to realize how awful their loan terms are, or really how awful most loans in general are. Don't take a loan unless it can MAKE money for you. If you can't make Money make money for you, then go for assets.
Summary
1. Don't Do it if possible and just pay in full on a cheaper car or work harder until you CAN buy the car you originally wanted in full.
2. Alright Mr. or Ms. Impatient, if you want to finance go for Down Payment: 20%-33%
3. APR 2%-4.7%
4. Loan Term 48-72 Months
5. BARGAIN ALL THE NUMBERS!

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[OzMediaOfficial]

The 84 month loan is frightening, considering some modern cars don't even have a lifespan of 6 years.

[pieyield]

I want to buy a McLaren just to have a license plate that says “HI DEBT”

[shawnjames]

Me: god I just love the 1970 challengers, so sleek

My insurance rate: I’m gonna stop you right there

[gwillis]

Biggest misdirection/ lie in car buying dealership: Salesman says "I have to leave to talk to my manager about that" Truth: All they do is go to the bathroom and stare at the ceiling for 15 or 20 minutes

[CarStory]

The best car buying experience I ever had was when I was able to write a check for the full amount. Once you do it, there is no going back to car loans.

[pc-broke]

Short answer: No




Long answer:

[xenragedbarneyx]

I like the new way he’s doing his “noobs guide to...” videos

[camdog]

I just financed a E63 AMG this is the greatest 4 days of my life lmao.

[kevinarzola]

Before I bought my car, I saved enough to pay it up front (around 30k). I financed a car at .9% and I down paid 50%. The rest was all credit building and it really help me get a good mortgage

[jiroweiler]

Here's the best tip you'll ever get about car financing :

-"Don't"

[shaz]

I love how bladed accepts his mistakes and learns from them.

[xTtownThumpx]

I’m okay with financing my ride, my down payment was like 30% and I’m paying extra on my monthly payments so I can pay it off sooner! I’ll be payed off in 2 years 🤘🏼

[Dominickudo]

“Become somebody successful first then buy a dream car” bro I’ve been saying that for a while.

[enqualizer]

"yeah yeah yeah wanna listen to my mixtape"-Aventador

[jointaimbot]

I have 10-12 years to live... I am okay with going in debt to get my dream car before I die

[TPWC-eoui]

Sees new car that I really like
Dealer and banks: I’m about to end this whole mans career

[weatherfan]

If I'm able to drive safely, I want a Crown Vic first.

[penelopeboivin]

Bladed is the type of guy to Rice a car than is already cool and does it well.

Next step: Transform your Corvette into a Countach.

[Michael-jqpf]

This came at the perfect time for me.. I was literally googling "explain APR for car financing for an idiot" yesterday, because I'm thinking about buying my first new car. You answered my biggest question, which is "is this a stupid idea, self?" Lol

[vysyrah]

I started off with a '07 civic. Didn't pay it off fully, rolled 8k onto a '12 wrx and had a 30k loan. Just recently traded that in for a new '19 civic si. Rolled over 11k. 33k loan. It just adds up man. I was smart enough to get the warranty to last the full term this time, so I'm just gonna wait this one out to avoid digging myself into a deeper hole.