cash back on cars

[SNEAKY]

can the buyer actually receive that cash back and do what they wish with it? bank it, pay another vehicle off,ect........


we owe about six months on our car, and i am really wanting a larger truck. my little nissan just gets worked a little hard sometimes. i really had hoped that the mahindra truck would be around by now.

[YALE]

Why would you want to? You'd be financing that cash.

[Damnittsteve]

cuz he's stupid

[mustangguy289]

Depends on what he does with it. If he pays another car off that has say 7% and the new car only gets a 4%... then he would be smarter to take the cash and pay the higher interest loan off.

[6.7dually2009]

Yes u can

[TexasDevilDog]

Why would you want to? You'd be financing that cash.

I heard that borrowing money is always the way to become a millionaire.

[SNEAKY]

I heard that borrowing money is always the way to become a millionaire.

not looking to become a millionaire......

i have actually done good, the newest car i have owned in the past decade is a a 2000 frontier, which is what i am driving now. have considered another used car/truck, but am really wanting a new one. my wife has always had the new cars and she is still happy with her currant car, and it is almost paid off. may even go see Skip to look at a gently used one, but the 2010 trucks are going pretty cheap right now.

[0 GT 2]

Depends on what he does with it. If he pays another car off that has say 7% and the new car only gets a 4%... then he would be smarter to take the cash and pay the higher interest loan off.

Interest isn't accumulated on the average daily balance of car loans. It is added in the beginning of the term and the initial payments that are paid pay off the insurance.

Once you sign your name on the paper the amount of interest you pay is already determined throughout length of the loan.

[6.7dually2009]

No the interest is not added to the loan in the beginning it is a simple intrest loan with a daily intrest acured.

[Denny]

Be a pimp and just pay cash.

[0 GT 2]

hmm, learned something new.

[mustangguy289]

Interest isn't accumulated on the average daily balance of car loans. It is added in the beginning of the term and the initial payments that are paid pay off the insurance.

Once you sign your name on the paper the amount of interest you pay is already determined throughout length of the loan.

I am pretty sure you are wrong.

[0 GT 2]

I am pretty sure you are wrong.

Got it, thanks.

I don't know where I got that from, it's been a few years since I had a car payment.

[SNEAKY]

it's been a few years since I had a car payment.

solid brag.

[0 GT 2]

Well my car is 8 years old so it is what it is. It's reliable enough to get me where I need to go so I'm going to stick with it.