She actually has $17k in savings, just wanted to allocate $10k~ towards a car. Test drove the Rio today, she does not like it lol. Now she likes this 2015 Kia Optima for $12k. I’m thinking $6k down and finance $6k @ 10% for 60, pay it off around year 2, then get a better car.
KIA dealership was super pushy. Literally just said hi and they flop the credit app on the table.
Is that the advertised price or the negotiated price? How many miles? Are the remaining years on the warranty being transferred to the new owner?
Good for her. I still recommend saving her cash. What will the interest be for say a 36 or 48 month loan?
She and you will forever pay the price for this. Student loans do not discharge easily, even in bankruptcy. I think you have bigger worries than which car to get? Mortgages will be impacted down the road…
Back to car, I think a lease may be too much. Used, well maintained car from a private party may be the best bet.
If these are federal student loans she should look at rehabbing them.
Let me be the devil’s advocate with your down payment…
Imagine (and we’ve have those such users and discussions here) she gets the car, the loan, etc. Drive’s off the lot and a month later car gets totaled. Flood, hurricane, tree fell, drunk driver, etc.
Car is gone so as down payment. Her move?
Kia has a 5yr B2B warranty so I don’t think there is anything left to transfer
It’s ludicrous to be picky in this situation. New car warranty and new car APR are much more important than vanity.
@endo1234 - I would suggest telling your girlfriend to think this over before making a final decision. Has she test driven any other car? Check out pricing on base 2020 Toyota corolla. She could drive it for 10 years.
50% Equity and 10% Interested damn I’ll loan her the money LOL. I would secure own financing through credit union first before going into the dealer.
As predicted, this thread was a giant waste of everyone’s time. The actual buyer doesn’t GAF about what y’all think, she’s going to do her own thing.