390interest on 6k is 6.5%, that isn't a good deal if you have good credit.
Is Capital One the best way to buy a used car?
- Thread starter Black Radical
- Start date
390interest on 6k is 6.5%, that isn't a good deal if you have good credit.
Jagu you have it wrong. Those lawyers and doctors are thousandaires and not
millionaires..Are you a millionaire? No..What is the cost of an average Luxury
Car? $65, 000? Real millionaires negotiate the best purchase price and write a
check. Carrying a car not on such a small amount of money is incovenient. ... But
the average millionaire, the one who lives modestly, does not go out buying fancy
cars. He is like Ross Perot: He has a reliable car or two that are paid off, like a
Buick Regal or Toyota Avalon....spends modestly, and you never know that he is
worth $4million until the day he dies and his financial numbers come out......The
reason why many lawyers, docs and other high income earners lease or buy at
low rates is that, normally, they have low cash reserves... If they buy a luxury car
it takes a serious dip into the $150, 000 they have on hand. It makes more sense
for them to lease a $44,000 Acura MDX at $550/ month, than pay full installments
for purchase at $983.00 per month.....
So finance you dumb ass nigga
Man you brothas on BGOL can't answer a simple question. The OP does not care about how you would buy a car
With capital one they will send you a check with about 30 days to use it. I can't remember the time frame exactly. You will just go to the dealership, pick out the car you would like, contact Capital one and they will approve the sale and you then can hand over the check.
With capital one they will send you a check with about 30 days to use it. I can't remember the time frame exactly. You will just go to the dealership, pick out the car you would like, contact Capital one and they will approve the sale and you then can hand over the check.
cash is better!!!!!
I am not a Nigga... fuck you. Just because you have low self respect does not
mean I do. Just because you so hate yourself that you call yourself a Nigga
does not mean you should call me one
Personally, I was answering Jagu and not the OP...SorryMan you brothas on BGOL can't answer a simple question. The OP does not care about how you would buy a car
With capital one they will send you a check with about 30 days to use it. I can't remember the time frame exactly. You will just go to the dealership, pick out the car you would like, contact Capital one and they will approve the sale and you then can hand over the check.
Key statement highlighted.
Dam!!! This is by far the best thing you ever said in any thread zinga! I applaud you.
Key statement highlighted.
Dam!!! This is by far the best thing you ever said in any thread zinga! I applaud you.
So u co signing a cac who is posing as a African on a porn board?
Ok, it appears that you just failed to read my post because you just mirrored my sentiments. My post already suggests that Millionaires can buy what ever they want.
I then went on to say that rich professionals have to account for their cash, thus financing is better for them.
And please all this talk about Ross Perot driving a Buick is bullshit. Tell me how many times has he ever traveled coach or eaten at golden corral? Most of those millionaires have very wasteful toys like boats , jets, $300k wrist watches, etc, shit that makes a Benz look like a waste of time.
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That's a shame becuase there are many working wealthy people. My father in law is very wealthy but he only made $60k a year when he was working. He owns a lot of land, etc.maybe it's me, but i don't consider a working stiff (even if they make a handsome salary) wealthy
i only know one older decamill who drives a benz from the 80s
There are many wealthy working professionals who became wealthy because they are able to think instead of following BGOL's philosophy of spending $100k cash on a new Benz.
His question has been sufficiently answered early in the thread.Man you brothas on BGOL can't answer a simple question. The OP does not care about how you would buy a car
With capital one they will send you a check with about 30 days to use it. I can't remember the time frame exactly. You will just go to the dealership, pick out the car you would like, contact Capital one and they will approve the sale and you then can hand over the check.
I guess, you're not aware that you can buy miles for 15c/mile and still be cheaper than buying a $80k car.
I lease my current car and it has 48k miles on it. I was allowed 35k miles. No problem, I will pay the extra miles and tax deduct it.
I know my Credit Union some bullshit
Don't pat him on the back, he only stated the obvious.
Apparently, the OP doesn't have cash to drop on a used car, hence the thread.
Comprende?
If your father in law was making 60geez back in the 70s and 80s hes not the norm. You're not the norm either.
Hey OP, That credit union information is the truth. I wish I knew about that before.
Anyway, I have bought two cars with Capital One and the process is as easy as indicated in this post. Except someone said Capital One had to approve the sale once you decide on a car, that did not happen with me. They sent the check and I could write it to what ever car dealer I wanted as long as they are listed as lien holder, knock yourself out.
Good info in this thread about using the blank check as a bargaining tool also -- but I doubt the dealer would be able to beat Capital One's rates.
Negotiating the best cash price and hitting them with a credit union check might be the best approach.
Good luck
Anyway, I have bought two cars with Capital One and the process is as easy as indicated in this post. Except someone said Capital One had to approve the sale once you decide on a car, that did not happen with me. They sent the check and I could write it to what ever car dealer I wanted as long as they are listed as lien holder, knock yourself out.
Good info in this thread about using the blank check as a bargaining tool also -- but I doubt the dealer would be able to beat Capital One's rates.
Negotiating the best cash price and hitting them with a credit union check might be the best approach
.Good luck
Thank you.Don't pat him on the back, he only stated the obvious.
Apparently, the OP doesn't have cash to drop on a used car, hence the thread.
Comprende?
So, a regular person with a sub $50k income buying a $23k car in cash is the norm?
Exactly, so why do we care if they spend cash on cars instead of financing it like regular people.Thats the purpose of becoming a millionare ain't it?...
You can't compare incomes over time and not put an asterisk. I once met a guy that made $25K a year during the depression.
my point exactly
if you're father in law does not have to go to work everyday (figuratively speaking)/depend on the state, and is able to live off of being a rentier capitalist, then he is in fact wealthy
income does not always equal liquidity
I wouldn't say all that, if someone who doesn't work owns property and make around $3k a month off it, would you consider that person wealthy? Just because someone might have a high net worth due to their property value doesn't make them wealthy.
Credit Unions have the best rates. My credit is not the best, but I do have a good relationship with my CU. I went in for a pre-approval for my car loan. When the officer brought up my credit I brought in some proof that I was cleaning that shit up and she approved me for 2.9% apr.
depending on where they live, if they don't have to work or be on the dole? sure...
part of your argument makes snese,BUTTTTT
wealthy people also lease becasue they want new vehicles every 2-3 years
The easiest way to answer the question is, go with the lowest possible interest rate you can get. If capital one gives you the lowest rate go with that. If you think you can beat that, shop around.
I walked into a dealership with a loan from my credit union in hand and they were like "we can beat that", drove off the lot the next day in my new joint with a note that was 1.5% lower.
I walked into a dealership with a loan from my credit union in hand and they were like "we can beat that", drove off the lot the next day in my new joint with a note that was 1.5% lower.
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