Child Care is Expensive, or Why I Bought My Mother-In-Law a Car

[rookster]

@brandonhi Really glad my kids are grown

 

[tom56wat]

@brandonhi OP, irrespective of whether you’re buying a new or used car, please consider querying at least 3 local credit unions for an auto loan. Their interest rates are so much better. Please please please DO NOT borrow money from dealership’s lenders. I beg you to invest some time in this process. You’ll thank me later.

 

[brandonhi]

@tom56wat I don’t think anyone is going to match 0% for 36 months lol. I’ve bought lots of cars in my time, I always shop around unless the manufacturer is offering sick deals like that. Plus I got an E plan through a family member so I’m paying invoice plus taxes.

 

[tom56wat]

@brandonhi Fair point! But it makes me wonder if the “0% for 36 months” deal comes with a hefty down payment. If yes, it might still be worthwhile to compare the credit union loans while you put the deposit money into a nice high yield CD. If not, congrats on getting a sweet deal.

 

[brandonhi]

@tom56wat No down payment was needed, but I still threw a couple thousand down which covered the taxes and fees. Credit unions in my area, along with NavyFed and USAA, were around 4.99% for 48 months.

 

[tom56wat]

@brandonhi Sounds like you got a great dealio there

 

[mrdann]

@tom56wat Yeah 0% interest during times like these is an incredible deal!