Theolodian3d ago
Anon Opin
Think we've reached the point where it's more of a flex to have a crappy old car than a shiny new one. Shows you have your priorities straight. I work in car insurance and can confirm that the vast, vast majority of people with fancy cars have them on ludicrous finance deals
Mar 23 at 11:55amanon_opin
Show threadJen4d ago
@anon_opin all car finance deals are ludicrous.

Source: I used to have a job helping to build quote sites. I did a fair bit of training to understand the various types of finance, how they worked, etc.

My biggest takeaway was never get car finance. If you're eligible for finance, you can probably get a bank loan for the same amount on much, much better terms.
Show threadJohn Maxwell3d ago

@jetlagjen @anon_opin I have bought a few cars in my life in cash. I will accept dealer financing if I intend to pay it off immediately (after checking the contract carefully for landmines).

It simplifies the process. Most dealers are discombobulated by just buying a car with no financing of any kind.

Show threadJen3d ago
@jmax @anon_opin every car I've ever bought has been a cash purchase.

Dealers love me, because I take the trade-ins nobody else wants. Then I run them until they die.
Show threadHoward Chu @ Symas3d ago
@jetlagjen @anon_opin the two previous cars I've bought (Ford Escort GT, Ford Probe GTS) had dealer financing at rates far below what my banks or credit union offered (2.9%, 0.9%) at the time. The last car I bought (Ford Focus ST) with cash. But my experience has been, with a good credit score, the dealer's financing always beat the banks. With a poorer credit score I think you get screwed no matter whose financing you choose.
Show threadMichael Vilain3d ago
@anon_opin There's also the aspect of any car made prior to ~2015 will be much more repairable with more dependable analog stuff. Newer cars are enshitified with plastic parts that degrade much faster and touchscreens rather than mechanical buttons and knobs.
Show threadEnola Knezevic3d ago
@mvilain @anon_opin Also, older cars don't spy on you https://nypost.com/2023/09/06/nissan-kia-collect-data-about-drivers-sexual-activity/
Nissan, Kia can collect data on drivers' 'sexual activity' and 'sex lives': privacy watchdog

Your car may be keeping tabs on your “sex drive.” Car makers Nissan and Kia can collect data on their drivers’ “sexual activity” and “sex lives” — an…

New York Post
Show threadMichael Labowicz3d ago
@anon_opin love this. I pay for all my cars in cash and run them into the ground