CAR DEALERS ARE IN TROUBLE: Never Pay Cash For a Car Again
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- Опубліковано 14 тра 2024
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
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I have a 750 credit but ask dealership to give me the highest interest rate so I can get the best price for the car. Then when I have to make my first payment, I pay off the entire loan.
Yeah, alot of people dony know that game
🤔
So im curious. When you get the highest interest rate the price goes down? Just trying to understand
@@Dakid015 Yeah, because the rate makes the payment higher and most dealerships get a kickback for lack of a better word. So, the dealer is like we will reduce price on this person because what is the possibiliy they can get financing to pay this off. Ultimaely the will make money on the backend
People don't understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments don't match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I've been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
Sofia demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I'm surprised that you just mentioned and recommend Ms Sofia Rachel. I met her at a conference in 2018 and we have been working together ever since.
Sounds interesting. I was planning to invest some few £ in some coins, stack them up and leave them for a few years, but seeing this changed my mindset. Thank you very much
I bought me a new Honda civic in 2020 with 0 percent APR with a 800 credit score 😊
Nice! Congrats! I plan to be in that position soon!
@@Dakid015 Great deal! Just surround yourself with positive and smart people and you will get there!!!
Well explained. Thank you for sharing your knowledge.
Ive been driving cheap price cars all my life. Now that i have good credit why not finance and save money in the long run.
Keep driving cheap cars 🚗
Car dealers don’t allow you to pay cash for car, anymore. When you tries to pay cash, they tell you the price that you see is for people that is financing the car. Cash price is a different price.
Not all dealers, but I do agree that many do. Their scumbags !
I just went through the same thing.
Sounds like they punish people for paying off a financed car early
I was able to buy a car with cash pretty recently. So some still are cool with it
Sounds like a car salesman told you that and not the owner of the dealership.
The other thing you forgot to mention in these pros and cons is insurance. When you Finance a car you have to pay full coverage. where is a paid off car you do not. That also will be up to the individual if he wants to gamble by having full coverage insurance or not. myself I pay cash for a car sometimes and sometimes i don't. I never really invested money in the stock market but I know with this economy like it is you can make a ton of money in the stock market right now if you just get the right investment. I'm more of a hands-on investment guy. Flip homes and buy property or whatever else I can buy and sell to make a profit. I teach my children to never use the word retirement. You can always stop physically working but you never retire from making money with money.
I finance my 2023 chrysler 300 SRT but adding more each month towards the principal. If I were to pay cash for the vehicle. Let's say 65K that car would immediately deappreciate. 15 to 20% the second i drove it off their lot, Resulting in almost a 15k negative loss immediately! I took the money. I was 22 put a big down payment with and bought nvidia, tesla and spy. Cars are the worst investments. Anyone could throw their money at, they put most people under water immediately I'd rather have the majority of my money sitting in stocks and etf's rather than being buried in a negative loss that I will never recoop the full dollar amount of.
I think this is good information and everyone situation is different so it's not really a right or wrong answer (depending on the individual's situation) both could be good/bad as you suggested
🙂
Yes, exactly what he said and how he explained it.
I thought dealers didn't like cash they'd rather have you financed it through them
The bank is going to make you carry comprehensive car insurance, and possibly gap insurance if you do an auto loan.
I think what you should do is go and see the price of your monthly payment and add full coverage insurance to the monthly price and see if you can afford that total payment. Now if you can I would invest that monthly and then invest that amount and keep your money that you possibly would’ve paid in cash in a high yield savings account. Win win.
I think I follow this. It's actually pretty genius🤔
Mr. Fain.... Do you like gold and silver as long term investments? I never hear you talk about gold and silver. Copper? Palladium? What say you
Instead of paying cash, would it be better to finance the vehicle and then pay it down or off early?
Good morning, we’re almost at 700,000
If I’m buying a car worth $30000 how much do I put down or what should I do first?
You have made your fortune on a one way street financially speaking (Fed Put) and are still making assumptions that it will continue. Get ready for the sharp u-turn ahead.
employees suffering but shareholders are benefiting tremendously… something is awfully wrong with that picture… watch the u turn
I started buying some more stocks at the beginning of the year, but nothing big. Why am I treating this so harshly? I still want to be the first person in my polygamous family to make a million dollars despite the fact that others in my field make six figures per person. I am well aware of the costs associated with working more to get more money.
If the market has taught me anything, it's that it usually makes a comeback, but I can't seem to concentrate on the long term, especially because important things like my retirement and my reserve are having a disastrous impact on inflation. I need a solution and a data trajectory that I can trust as soon as it is practicable.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Due to the significant falls, I need advice on how to rebuild my portfolio and develop more successful tactics. Where can I find this teacher?
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I was unable to open moo account under this link so I did not do it
Not good to finance anything! If you are an everyday Joe like me this would be suicidal. As soon as the car leaves the lot your value is depreciated.
Why go upside down in a car loan? The car industry is in the worst era 5:05 ever with astronomical repossessions - the worst ever!
I disagree totally with your PIV!
Opened Moo Moo account. How do I get your navigation info?
CHINA HAS YOUR INFO NOW.....GOOD LUCK! MAX PAIN GIVES ZERO FUCK$ WHAT THEY DO WITH IT..HE GOTS HIS FEES! FOOL...
He said send him an email I believe
Thanks! Rep responded from IG
😊
Well explained, The incompetence and corruption that runs through this administration in our Government are getting more risky and ridiculous, i feel the sympathy and empathy of the citizens not getting the due help they deserve, thank you Citadel Moore; imagine investing $4,000 within 4 days of your investment you're profited with $7,300 wow, thank you Jesus❤
Getting Citadel Moore to help me really helped me clear all my debits. I started with what I have left and it's been the best decision I ever made
This is correct, Citadel Moore's strategy has normalized winning trades for me also and it's a huge milestone for me looking back to how it all started
Same here, with my current portfolio made from my investment with my personal financial advisor I totally agree with you
I'm new at this, please how can I reach her?
SHE'S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME
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The inflation has lost it and the sad fact is, It's pretty obvious we are headed for hyperinflation. I think stores better have tight security because when people can't afford to feed their families, things might get ugly.I appreciate Sharon Fogg alots, you’ve helped my family with your advice! Imagine investing $2,500 and receiving $12,300 in 5days 🇺🇸
Biggest lesson of 2023 in the stock market Nobody knows what is going to happen next, all we need is the right advice on how to invest in crypt0 and we will be set for life.
I'm from Denver Colorado USA, I usually worked as a software developer for a small startup i was living paycheck-to-paycheck, Don't have much money to pursue my dreams. One day, my friend introduced me to Sharon Fogg , ever since then my life have not remained the same.
Spot on! Ms Fogg is all about simple techniques that are highly profitable.
Having someone like Ms Fogg. mentorship, who's not only a great innovator but will also put the best effort into getting the work done so well beautifully, She is the best ever.
PLEASE Can someone Guide Me?? HOW TO CONTACT HER?????????????
Moo moo head!
Lol
You forgot the ahhh 😂
🫡 Richard