Y’all brehs laughing but right now this is the absolute best time to get a new vehicle.. low intersect rates 0% apr financing, this car manufacturers literally giving away these shyts now. I don’t like car notes either but afte suffering catastrophic engine failure on my car when I was driving home 2 weeks ago changed my mind.. my car was in perfect condition and I stayed on top on the maintenance.. I’m driving and my engine just cut off no warnings no nothing.. had the shyt towed to a shop and the next day they said my engine hydro locked smh wtf I had no warranty or nothing as it was a 9 yr old vehicle and it was my family mover.. I locked around to source used engines and the cheapest for one was 10gs.. I wasn’t spending 10 stacks and then another 2 stacks to install a engine that only had a 1 Ye warranty I was not gonna do it.
so I ended up trading in the vehicle for a 2019 INFINITI QX60, my credit union gave me a 0.9 apr financing and my payments are $285 a month.. Then a week ago I went dodge and copped me a New 2019 Dodge Charger Hellcat with 0% apr for 72 months along with getting dodge cash that knocks another 8gs off the price and I put down 12gs for a total down payment of 20gs.. so the price of the car came out to $35k and monthly payments are $440
Guess what tho I ain’t never got to worry about maintenance or catastrophe failure again.. If them shyts fukk up it’s the dealers problem they have to let me know when the shyt is finished... I loved used old cars that I can fix up and drive but at the same time I got 3 young kids and I can’t have them in something unreliable or my wife getting stranded because I’m being cheap, I make enough where car notes are not an impact on my finances.. But honestly if it wasn’t for this corona shyt I prob wouldn’t of even financed anything and just bought the Infiniti outright but since these institutions giving away interest free money I had to take advantage
No hate against you at all, it's your money breh, but you basically went from having no car note, to having 2 car notes that quick?
The 2019 Infiniti QX60, that's a $35-40000 vehicle, even with 0.9 financing, at 285/month how long are you financing it for? Gotta be at least 7-8 years, if not more. I can't imagine you got that much from your trade in w/a blown engine.
And your Dodge Hellcat, you dropped 12gs down ( I understand Dodge gave you 8gs extra), and your payment is still 35000, 440/month? So that's gotta be for at least 7-8 years too.
Those are both long commitments on vehicles that quite honestly do not have a good reputation for reliability. Nissan been unimpressive since the Renault merger, and Dodge, well lets just say Chrysler and Fiat aren't known to bring quality to the table.
So you're looking at 750+/month in car payments for at least 7,8, if not more years, on an expense (cars are not assets, they are basically an expense) plus you gotta do full coverage on both of those vehicles during the duration of your financing, and I imagine the property taxes are exponentially more than what you had before.
What car did you have before that cost 10gs for an engine replacement? That seems high for most cars, unless you had a German car like an Audi/BMW/Mercedes (all of which become huge money pits as time passes).
You said you were going to buy the Infiniti outright, so it sounds like you make a good income and/or you're good at saving money. So if these purchases didn't affect your living that much, more power to you and I can understand the logic of borrowing money at rock bottom interest rates. But unfortunately most live above their means, and these types of purchases can put a lot of pressure on people to keep up...
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