home equity loan vs car loan

[NutBucket]

You can do better on the new car rates...non-promotional too assuming you have good credit.

 

[ponyo]

Toyota is offering 0% financing for 60 months on 2014 Sienna. That would be my pick.

 

[dabuddha]

Toyota is offering 0% financing for 60 months on 2014 Sienna. That would be my pick.

I looked into it today but its just too much for me. I want to avoid getting into a loan that I just can't afford

 

[Jimzz]

I looked into it today but its just too much for me. I want to avoid getting into a loan that I just can't afford

:thumbsup:
Buy what you can afford, not what the Jones drive.

Me and my wife could afford to buy new cars but we buy used. The extra money pays the house off faster.

 

[dabuddha]

Thanks again all for the help/info/tips. I ended up getting 2.49% for 72 months through the dealer (via capital one) I made sure there was no pre-payment type penalties since I'll be paying it off in 2 years). First time purchasing a car from a dealer so it was an experience but I think I walked away ok. Took about 7 hours because I kept whittling away at the fees they were attempting to charge me.

One was a $895 "get ready" fee. They claim they cleaned/detailed the car, changed the oil, fluids etc. I got them to bring it down to $200
The other was a $499 "processing" fee which I could only get down to $400.

The one thing I'm still on the fence about is the bumper to bumper warranty. They said it was $2900 for 5 years/60k miles (this is a 2010 dodge grand caravan so all that was left was about 1 year on the powertrain warranty). I got him to lower the warranty price down to $2000 but I'm not sure I should keep it or not. I plan on driving this van into the ground (like I've done with my previous vehicles). I made sure there would be no "penalty" or cancellation fee if I decide to drop the warranty and I have 30 days to decide.

 

[cabri]

$200 could be considered to be reasonable to the changing of oil/filter; changing fluids and a true detail.

Make sure that they actually did change all those things and not just check/top off fluids.
Coolant
Brake
Washer
Oil
Transmission
A/C Freon

Get a list and then talk to the person that signed off on the work as to what they actually did.
Checking fluids is not changing them. Any oil change center would also do such as part of the service.
W/ respect to detailing; ensure that it was properly vacuumed, look under the seats for trash/dirt. Look for stains that should have been removed by the detailing.

The processing fee is their justification to have extra profit and help cover their overhead.

If you can not get it lowered directly and feel that it is excessive, then have them lower the vehicle cost.