He should say also you can only make these demands if you have all the cash or good credit

@jamesdawny1855

9 ай бұрын

He didn't say anything about making any demands. He clearly states that this is if you have super super low intrest Wich you only get with GREAT EXCELLENT CREDIT

@surveytestmoney2550

4 ай бұрын

​@@jamesdawny1855Why get hung up over 1 word when what he says was absolutely correct? You *can* make demands when you hold all the right cards for the upper hand. The wealthy and well connected do it all of the time.

I bought my Lexus with no money down at 0%. I had the money to buy cash, but I decided not to give up my cash and instead just pay the monthly payments over three years.

@jml9550

Жыл бұрын

We are going to pay cash on our Lexus Hybrid arriving next month. Interest rate is too high and we have cash available anyway.

@shadowk4718

Жыл бұрын

How lol?

@jml9550

Жыл бұрын

@@shadowk4718 take out a credit card with introductory rate of 0%, pay through that 18 months, then balance transfer into another credit card with 0%……or borrow money from mama with 0% interest over the next 3 years……He or she didn’t say how much the Lexus was though, it could be a $10k Lexus or $52K Lexus, in theory they are both Lexuses.

@jml9550

Жыл бұрын

Back in 2017 i bought my 2017 Lexus ES350 in cash, Lexus were offering $3k rebate in lieu of 0% interest. I took the $3k and pay it in full.

@lionessrising

Жыл бұрын

@@jml9550 telling someone to buy a car with a credit card is a terrible idea!

You should put down 0% down and pay cash. Even if you have cash never finance. If the market drops it’s nice to know you’re debt free and no stress.

@Platinum-Ninja

Ай бұрын

There is no stress to financing something unless youre an idiot who buys stuff you cant afford. Let the bank take the risk with the money. I'll keep my cast invested.

@rossta3949

3 күн бұрын

​@@Platinum-Ninjafinancing things that go down in value isn't making you more money than the market. After you calculate depreciation and capital gains you're losing money. That's why banks have nicer buildings and furniture than you.

Man, you are doing such a great public service. Keep up the good work. Next time I'm in the market for a vehicle, I will hit you up.

just get your credit score up to700 and not only do you not need money down but your APR will be under 4% in any state.

@bdm8960

2 ай бұрын

Not true with today’s interest rates.

@matthewsanchez114

Ай бұрын

What if you have a 700+ score but only 2years worth of credit history

@silent8989

Ай бұрын

I got a score of 797 can I get a whip with zero down

@davidrodriguez5280

27 күн бұрын

I just got approved for a car loan. 5.99% for 48 months. My credit score is 829.

@austinmerrival927

24 күн бұрын

⁠@@davidrodriguez5280How much you putting down and how much is the loan for? If you don’t mind me asking.

I got a new car right before Covid hit at 2.75 APR. Not looking at another new car for a while until rates start coming down.

The interest rates to finance are too high to not pay cash.

It about your credit score

Absolutely not one dime.... it's against the law to even be asked for a down payment..but they ask because they know you don't know it's against the law..

What people seem to not understand is that the more you put down, the less you pay in interest over the life of the loan, which makes the financed vehicle cheaper.

@deshonedrummond

8 ай бұрын

You may not understand opportunity costs if interest on the car is your only measuring stick

@CK-1000

8 ай бұрын

@@deshonedrummond opportunity cost is a fair argument, as a person could put $20,000 into $SPY or $VTI vs a down payment and earn 8% over the next 30 years. But it depends on the persons overall financial situation. But it should be noted that money in the market is a gamble and returns are not guaranteed during a particular market cycle. And bonds are paying high yields right now but they won’t always

@CK-1000

3 ай бұрын

@@ricardobarrientos2830 the apr only applies to the amount you have left, since that’s the amount you’ll borrow

@bdm8960

2 ай бұрын

Better yet, save that down payment cash just in case of a life emergency and just extra towards the principal every month

@Platinum-Ninja

Ай бұрын

or...you pay no money down, finance it out as long as you want, no penalty for early payoff and pay 3 payments a month and pay it off quick...and still not pay much in interest

Or go to your credit union and pay no money down and obtain the best rates 😊

@familybusiness1417

Жыл бұрын

​@@mr.gamewatch8888 Yup... The fact you ask means you don't know

@familybusiness1417

Жыл бұрын

@@mr.gamewatch8888 Sorry I thought you trolling... Yes your credit union will give you the best interest rates... Go get pre-approved and they will give you a bank draft and you take that to a reputable dealership to buy a car... You will already know your interest rate and how much money you can spend...

@NoOne-zo6gj

Жыл бұрын

Did that last car I bought, check in hand, went to dealer and they gave me 0% for 60 months crushing the CU Rate.

@fdoprod.

11 ай бұрын

@@NoOne-zo6gjholy

@dragonman2068

10 ай бұрын

​@@NoOne-zo6gjCompletely agree with you. Depends on the situation though, if you are getting a used car, definitely go with CU. If it's a new car, the dealership typically can provide the lower rate

Really depends on your cash flow, taking a loan just breaks up the price into installments. Use the whole 48 installments or pay it in 5, it just frees up cash to be used elsewhere. But if you wipe your a$$ with $100 bills it really don’t matter what the loan terms are. 5 bills 3x a day and you’re only spending half a million on tp a year!

Awesome man, was wondering if I should put down 10k or not, now that I know I’m probably gonna have 10-13 percent interest (first time buyer/ no credit score) I think it’s best I put down the 10k

And a good paying steady career helps 👍

Facts 💯🔥

Thank you for helping the average consumer to buy a car with more knowledge. ❤❤

Never put money down in most states. If you want to and owe money on your current ride, put the money on your current loan. This way you wont pay sales tax onthat amount

@jamesdawny1855

9 ай бұрын

Explain ? Wouldn't you still pay sales tax cause you are putting money torward the loan after you already pick it. I'm confused. I thought putting more money down was a good thing ?

@jakimmixon1461

7 ай бұрын

@@jamesdawny1855it is. These aren’t smart with it or they’re just trying to find awkward “loopholes “ which rarely works out

@gursidaksingh40

4 ай бұрын

Definietly putting more money down is a good thing, because your down payments gets subtracted from the price of the vehicle. Then that difference gets sales tax on it. It is always beneficial to have more money down. Usually more than half of it comes back in the form of positive equity.

Thank you brother for sharing your knowledge ❤️

U could also ask the dealership if they do interest free auto loans and if they say no then do ur research if they’re lying or not. And there’s a website that can provide which car models u can get without interest fees.

This is A1 info. Thank you for this.

@DeshoneTheAutoAdvisor

Жыл бұрын

Appreciate it. Just getting started 💯🙏🏾

Thanks for your content

I’m paying 2.99 interest I get 4.35% in high yield saving. I rather finance always. And when decent rates return to near zero financing almost is a no brainer.

Ideally you want to pay as little interest as possible but how much interest is too much to pay say for. 15k car? Like what % of the price of the car is you got scammed territory ?

Same thing with a mortgage. Years ago. The good days

Great Video. Thanks!

@DeshoneTheAutoAdvisor

9 ай бұрын

Lots more coming. We're just getting started 💯 Thanks!

This Man 👨🏽 knows what he is talking about and I will listen to him and I don’t even drive a car 🚘 never driven a car in my life I let the New York City 🏙️

Great advice 👍

@DeshoneTheAutoAdvisor

11 ай бұрын

Lots more helpful tips coming 💯

Absolutely right!

@DeshoneTheAutoAdvisor

10 ай бұрын

💯🙏🏾

Thank you

@DeshoneTheAutoAdvisor

Жыл бұрын

I got you 💯🙏🏾

Yeah it’s against the law to put money down! PERIODT!!

Nice love it

@DeshoneTheAutoAdvisor

Жыл бұрын

🫡☝🏾🙏🏾

When a random KZreadr provides more responsible advice than Dave Ramsey.

20% Don’t pay interest on the taxes and fees. Pay them upfront

shopping for a new car now and my credit score is A1 so no worries here but always make sure u see the out the door price on that vehicle never use imma pay cash always use your trade in as a last result and double check that out the door sale if theres add ons ask the sale rep to have them remove or one is walking 💯

Nothing. Pay cash for a hooptie. Then, sell and upgrade with cash. Black folks, stop paying car notes for a depreciating liability.

@handleyobusiness

Ай бұрын

I swear. The dealerships take advantage of our ppl smh

Great video ❤ was stress asf getting bank statements and paystub for my car loan until I ended up getting it from a vendor online

You are correct if your a non business entity, I’m self employed so it is indeed deductible…

I just got approved for a car loan. 5.99% for 48 months and no money down.

My hero

It's illegal for the dealership to require a down payment ONLY THE BANK CAN ASK FOR IT MAKE SURE YOU KNOW YOUR RIGHTS THATS WHY THEY BE GETTING US

Never ever ever put money down on a depreciating asset. If you must put money down to get the payment to a certain point, you're already paying too much for the car or buying too much car. Period.

@andrewclark145

10 ай бұрын

What should you do instead?

@thegodblogger3812

10 ай бұрын

@andrewclark145 Make sure you can buy it and afford the payment without a down payment. If not you're buying too much house, car, or whatever. Of course you need the disposable income and credit scores.

@Lagann0

10 ай бұрын

That makes no logical sense. You should never buy depreciation assets ever by that logic and only buy appreciating assets. And why would you want to pay more by taking a loan on a depreciation assets versus just paying it out right.

@thegodblogger3812

10 ай бұрын

@@Lagann0 Only in a fantasy land would no one ever finance a depreciating asset. Serious discussion only.

@Lagann0

10 ай бұрын

@@thegodblogger3812 how do you think the world works? Things are based on savings so you can borrow from the bank ..

My credit union rates suck right now new car is 7.5% for excellent credit. I will go with manufacturer instead.

0

I have heard that a down payment on a car is not a requirement to purchase a car. I have actually heard that when a car dealership requires you to make a down payment, the car dealership is breaking the law. Is this true?

@acienagolden30

Жыл бұрын

I've heard the same

@JohnJohn-bi6lh

Жыл бұрын

@@Ezvy I know that you are not referring to me in your comment, correct?

@lionessrising

Жыл бұрын

@@Ezvy here you are again can’t comment without trying to insult. That’s the 3rd comment I saw from you and it was negative. That tells me everything I need to know about you. Sad 😞

@JohnJohn-bi6lh

Жыл бұрын

@@Ezvy Listen jacky, you don't know me so I would suggest that you keep your negative comments to yourself.

@JohnJohn-bi6lh

Жыл бұрын

@@Ezvy You are obviously one sad excuse for an individual. It’s a real shame.

I got an 850 credit score. I put zero down. I usually the car off early anyway

Free game 🔥🔥🔥

@DeshoneTheAutoAdvisor

Жыл бұрын

Lots more on the way 🫡💯

Risk is left out of the equation.

Take off blind fold buy cash

Same is more true for mortgages (potentially being loaned money at very low interest rate) plus u get a tax break. For some it’s much better to never pay off their mortgage if they are otherwise investing that money and getting a better return. Most people though do t actually invest and are probably best just not paying interest even if the rate is low. Definitely a person to person bias…and good u mentioned that.

I don't put money dwn or pay sales tax on a vehicle

@user-up4zi1do6p

Жыл бұрын

How?

@JohnJohn-bi6lh

Жыл бұрын

Yes. How?

@shadowk4718

Жыл бұрын

@hott rod of course you don’t you buy in cash from Craigslist or other sites not dealerships but if you go to a dealer you will pay taxes

@cherylbroadenax1006

2 ай бұрын

U still paying sales tax.

Zero. You don't need or want to put money down on a car. It's actually not required...

@jamesdawny1855

9 ай бұрын

Why wouldn't you tho? I don't get it

@jenninemorel7693

9 ай бұрын

@@jamesdawny1855 Save your money to actually pay down the principal. There's no need to put cash down up front. It's a scam.

@jcooksey19

4 ай бұрын

Exactly, it’s actually illegal for them to tell you to do so

I would advise no one to put available cash on a depreciating non asset…use it for those absolute emergencies, buying a vehicle is not and emergency! I have never and will never provide a DP!, hell folks, your interest is deductible at tax time in some cases!, let the lender provide the funds…if the payment is to high your shopping for the wrong buggie!

@jamesdawny1855

9 ай бұрын

Y'all giving bad advice. If you buy a 26,000 car at 8% 72 months 700 a month. but you can put down 1000 and that lowers your monthly

@iamlegendaryfitness

4 ай бұрын

That interest is not deductible on a 1040… what are you talking about 🤦🏾‍♀️😂

I’d rather buy outright, especially considering that it’s a depreciating asset. I’ll take the opportunity cost of that money being able to be invested elsewhere.

The higher the rate, the faster that you want to pay that loan off. The lower the rate, the slower you pay it off.

Do not use Ally Bank

What junk fees I shouldn’t pay for when financing a car

It’s important to consider arbitrage, but if you just don’t want car payment, then I would save the struggles and hurdles and just pay cash. Yes, it might not be the best mathematical decision, but it might be best for what you wanna do.

What do I need to finance a car and how much money do I need to earn annually to pay a car costing 65k?

i need help. .lol, my credit crashed due to job loss, so i dont have many options. I'm being asked for at least $2500 down.

@Yoomaro

10 ай бұрын

What car?

It’s not the bank money tho Let’s start there

There are two zero down payments, from decade and half experience. On a rate higher than .9% put zero down towards the car equity/balance with only applicable taxes and fees out of pocket. If you keep a car less than 8 years fully paid off or not, it's best to lease the car you like when the manufacturer is doing both a subvented lease with an inflated residual. This will save you approximately $15k on maintenance for nonluxury and $25 on entry level luxury car every 8 to 10 years. With the added bonus of being approximately 40% cheaper than buying and owning that car over 10 years

@dcameron7736

11 ай бұрын

Forgot the other zero down, only on zero percent interest do you finance taxes

Do you have a !simple purchase plan Money just sitting in bank.

I dont put a dime down. they'll either give me a good final price, a good APR and all the rest of my demands, or i'll go somewhere else. I have perfect credit and either they WANT to sell a car....or they dont

Never buy out right cause then the dealership can't package and sell your debt for their own profit.... Keep making payments on a depreciating non-asset, cause arbitrage. 👀

One hundred percent. Because car payments are poor people moves.

So I don’t have to make a down payment when I’m financing through my credit union this is my first time with all this and no one around me with the knowledge wants to help me so I’ve been trying to get the information on my own I assumed I needed money for a down payment regardless of taking out an auto loan and financing

I had an auto loan from credit acceptance, Made perfect on time payments for 5 years from May 2013 - Oct 2017, How can I leverage that?

But does it also depend on your credit that determines how much u need to put down?

Need a help on a question, If I paid by check or bank check, does the dealer have the right to ask you for your social sercuity to run you credit even if I am paying by check or bank check

How much can you get a car or truck for by just purchasing it out right

What if your credit score is bad and you have no co signer?

No such thing as free money. Usually, it's a discount or zero percent with no discount. Do your financing. Save, shop then buy. Do not get more than you can afford. Don't forget taxes, maintenance, insurance.

@lanac7974

27 күн бұрын

Actually everybody has money in their trust

I heard in California that u can't pay off cars if u get one now because of interest they don't let u pay of car faster do u know and what is a good van or truck a few years old

12 USC 1431. I don't see lending...🤔😔

Could i get back lash if a deal wasnt finalized. Bank told me to return the it to dealer

How do you get these sub vented rates?

Smart

Doesn't your credit score mean anything? I never hear anything mentioned about it.

Dealer dude was giving me crappy rate like 6%. What to dk about that??

Go buy a car outright - stop financing

Why when calling dealers asking prices on a vehicle listing on inventory they refuse to give prices over the phone just to tell you to come to the dealer and see

@cherylbroadenax1006

2 ай бұрын

Face to face they can brier beat ya. I ain’t leaving until u buy this car. Sit down. Shut up and sign. Smiles.

Nothing unless you just got the money.

✨🙆🏽👀❤️‼️🔥🔥🔥Would LOVE The HELP🆘

@DeshoneTheAutoAdvisor

Жыл бұрын

Appreciate it! Watch my videos or come to my free online Masterclass. You'll learn how to get the BEST DEALS on your car, SAVE MONEY and learn how to car shop FROM HOME without buyer's remorse. Register for FREE at www.carsfromhome.com/car-shopping-masterclass ⚠ Only 250 FREE slots available! So register now so you don't miss out!

You do not want to try to figure this out at a dealership

Why do people put money down on cars? I got a 13k out the door car at 2.9 interest and put $0 down. Monthly payments of $220. The car had 47k miles and it’ll last me about 9 years until it reaches 200k. Only thing I need to do is oil changes which take me about 1 hour every four months and cost me $30 dollars from Walmart (filter and synthetic oil).

@familybusiness1417

Жыл бұрын

1st person in history that doesn't need brakes, tires, wipers, fluids, etc

@notoriousLSGshow

4 ай бұрын

Not all cars last 200k -y mechanics son sentra transmission blew @105k & my wife's co worker rouge blew @ 130ish - I'm assuming they weren't driven hard , but idk - but imo it's a big assumption a car can last 200k plus here in central NY cars rust out after 10 years due to salt & some counties use sodium chloride which is worse + the extreme cold & heat during the yearskes parts contract & expand which leads to breakdowns - that's y when I'm down south visiting & see a 2004 maxima that's clean I do a double take bcuz that year car would never last up here

@Dailyfunctionalprogramming

4 ай бұрын

@@familybusiness1417 the mirage is 2500 pounds and average cars are 4000 pounds. The front brakes might be replaced every 100k (might). Tires are 400 to replace the entire set and only at 60-80k miles. Transmission can last the 200k assuming you’re not driving like a teenager. Wipers are 20 dollars… Coolant is 20 dollars… But tell me again how buying a new 30-40k car is required.

@Dailyfunctionalprogramming

4 ай бұрын

@@notoriousLSGshow you got me with the rust. I’m on the west coast so I don’t come across that issue. But if you bought a small car then there would be no issue since it would be light on the transmission. I also had a busted Sentra cvt at 80k. Sold for a mirage and now I have a simple reliable car that cost next to nothing to upkeep at home.

Help

Obviously those subvented rates are only offered to 700 & above scores?

In regards to the 20/4/10 car rule I genuinely don't understand how that rule would work for the vast majority of the population. If I'm making $3,000 a month then I can only put $300 towards gas, repairs, insurance, and payments? That's literally impossible.

I have question I don’t have all the cash to purchase my car but I have a big portion I have 10k and the car cost 15 what should I do? (I’m 18) any advice?

Getting a "low rate" is usually scam. I can sell you Toyota Corolla at 0% interest for 100K all day but it isn't a good deal.

Nothing!!!

One on one session please I have some questions I believe you maybe able to help me with.

@DeshoneTheAutoAdvisor

7 ай бұрын

Hope you’re well. I don't offer one-on-one services or consultations. For car shopping help and free resources, open the Cars From Home Toolkit here ➡️ www.CarsFromHomeToolkit.com. God bless 💯

I want to pay cash for my next car.

What if u pay the initial fee to fet a bussiness permit( u just kinda ignore the bussiness ) put put a decal on your leased car & write off miles & car payment - idk a tshirt biz where u just outsource ur orders online so investment in stock & payroll - sounds to easy imo but def intrigues me -is thier a way to pull it off legally?

@cherylbroadenax1006

2 ай бұрын

What if they audit u and see there is no business. Just pay the amt and be done. Speaking from a 60 yr old plus.

I would never put cash into a depreciating asset as expensive as a car. I would put cash into a TV, cell phone, microwave, and so on…

@SuperWearethed

10 ай бұрын

I get your point but at the end of the day you’re still putting cash into a depreciating assest. You’re just doing it indirectly…

@takenusername

10 ай бұрын

@@SuperWearethed making payments and “putting in cash” aren’t the same thing. Instead of putting $5000 down on a car to lower your payment by $100, put nothing down and each month, grab that $100 from your savings to make the payment. If you ever have a total loss of the car, some of your down payment will also be lost. This is mainly an issue early on in the loan.

@SuperWearethed

10 ай бұрын

@@takenusername Like I said you’re just doing it indirectly…you can use whatever fancy term that make you feel better. It doesn’t change the fact you’re still paying money into a depreciating asset.

@SuperWearethed

10 ай бұрын

@@takenusername that’s not always the cases. If you total your car and it’s worth 20,000 the insurance company will pay you that amount, however your outstanding loan amount is 24,000, you’re $4,000 in the hole. Using edge cases to make a point is not a valid argument Regardless you’re still putting money into a depreciating asset.

@takenusername

10 ай бұрын

@@SuperWearethed I feel you’ve resorted to semantics. I clearly define “putting money into” as a down payment. You’re trying to define it as paying for a good. Of course you have to pay for goods. That’s not what I am referring to when I say “putting money into”.

You never said how much to put down

@Flightscurryshoes

Жыл бұрын

Like he said it depends, it’ll vary depending on what YOU want. A flat percentage wouldn’t work for everyone especially with different credit scores and what you’re willing to pay in interest over time

Show me I was thinking about putting 10.000 down

A large part of the population will not pay themselves back. That’s why I take long because I will never pay myself back.😊

Always put a down payment on your car. It will make your monthly rates. Cheaper vehicle payments are expensive enough as it is and the sooner. You can pay the vehicle off the more to the principal the less paid to interest

Zero. If you can’t pay it off on 60 months you cannot afford the vehicle. Leasing or put another way renting is for wealthy people. Do not lease!