car payments??

car payments?? Group: alt.autos.ford Date: Mon, Sep 22, 2003, 5:00pm (EDT+4) From: snipped-for-privacy@cfl.rr.com (edb352) Just 95 more payments and... What's next for U.S. consumers looking to cut car payments? Believe it or not, in some areas, 96-month car loans are bubbling up.

Actually the longer the term of the loan the HIGHER the interest, not less.

mike hunt

Eric Tol>

You obviously have never worked in retail auto sales, if you did you would know a big majority of sales involve a trade that has a finance balance due on the previous vehicle that must be carried over on the next contract. Seems a lot of buyers love to go with four year finance contracts then trade again in less than four years. ;)

mike hunt

Sean wrote:

Re: car payments?? Group: alt.autos.ford Date: Mon, Sep 22, 2003, 9:36pm (EDT+4) From: snipped-for-privacy@mailcity.com

Actually the longer the term of the loan the HIGHER the interest, not less. mike hunt ============================= What part of what I wrote didn't you understand? The TOTAL monthly payment of principal and interest will be less over 96 months than 48 but the total of all moneys paid will be more.

Eric

---------------------------- Eric Toline wrote: car payments?? Group: alt.autos.ford Date: Mon, Sep 22, 2003, 5:00pm (EDT+4) From: snipped-for-privacy@cfl.rr.com (edb352) Just 95 more payments and... What's next for U.S. consumers looking to cut car payments? Believe it or not, in some areas, 96-month car loans are bubbling up.

I say you need only look as far as the home mortgage industry for creative ideas on how to finance car. I see interest only home loans,

The homes don't usually lose value. Vehicles do.

You can even get an unsecured loan (a.k.a., credit card, student loan).

Jeff

A friend uses a different approach. Never negotiates price.

1. chooses car.

1. tells dealer, " I have xxxx dollars for down payment I want a 48 month loan at xxx dollars a month, you work out the details."

Of course the "xxxx$" are realistic.

Eric