03-05-2014, 04:53 PM
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#27 (permalink)
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A True Z Fanatic
Join Date: Nov 2011
Location: Houston
Posts: 12,265
Drives: 2011 370ztt
Rep Power: 29539
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Quote:
Originally Posted by YzGyz
No offense but it's a good sign. Buying an expensive car with high interest is a waste of $$
When I bought my car (used), I had and still have over 800 credit score, 10k down cash and they wanted 6.5% to have it under my name. I had just gotten a new job a month ago so that's probably why. I said no to that deal. I told my bro to put it in his name and do his bank thing. He got it for 2.5%. I took that.
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How does that help you in the big picture? Wouldn't it be far better to get it in your name at the higher rate and refi later?
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2011 MB Touring-Sport-6sp-Nav/GTM TT/FI TT TDX/JTran/Kosmic/Eibach/Hotchkis/SPC/CSF/RPS/SoThatsWhereAllMyMoneyWent
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