2006-09-21 15:14:26 · 13 answers · asked by __HELLO__ 2 in Cars & Transportation ➔ Buying & Selling
Well, say you put down 14,250, you'll have 10,000 to invest. A basic cd will get you over 4% per year, which would be $400 /year or $1200. Any less down payment would be more to invest and more interest. Take the 0%, but invest the rest, if you'll still be able to make payments. Otherwise, leave 6 months worth of payments available and buy 6 month cd's. You'll easily make more than the $1250 extra that you'll spend.
2006-09-21 15:57:46 · answer #1 · answered by Papa John 6 · 0⤊ 0⤋
If you have the money on hand, you should pay $23,000 cash
to buy the Toyota Sienna rather than get a loan for 3 years and
end up paying $24,250.00.
People who borrow money or take a loan from banks/finance
companies to purchase cars, usually will find themselves in
the habit of taking more and more loans to buying anything
which they may not necessarily require and they end up not
able to settle their installments fully.
So, to avoid such a situation, it's best to pay for cash fully
and if you don't have it, don't buy it, or wait until you have it,
then buy it.
2006-09-21 21:36:36 · answer #2 · answered by steplow33 5 · 0⤊ 0⤋
What a deal !!! This is your chance to cash in big and become wealthy...
First, pay cash for it and immediately save $1250.
Then, save the payment each month @ $673 each month
Voila, you have $24K in the bank at the end of 36 months
An earlier reply suggests the 0% deal, but what happens if you accidently miss a payment? I'll bet there's a clause in there that ZAPS you if that happens. As Dave Ramsey says, "if you play with snakes, you're going to get bit"
www.daveramsey.com
2006-09-21 15:22:17 · answer #3 · answered by snvffy 7 · 0⤊ 1⤋
the borrower is always slave to the lender. if cash is an option for you, GO WITH CASH! paying cash, you ALSO have 0% APR, lol but it's true. and you'll own it and not have a monthly payment. if you pay cash up front, all your income each month will still be yours from now till you get a new car!!!! sounds great, huh?
2006-09-21 15:18:27 · answer #4 · answered by Hot Lips 4077 5 · 0⤊ 1⤋
What % return are you getting on your money?
Will you make the $1250 back in interest over that time period?
Remember, if you have to take a little out of the bank every month to make the payment, the balance that you are getting interest on is dropping every month.
If yo are thinking of keeping the money in the stock market or other volatile investment, you could lose a lot of it...
2006-09-21 15:25:00 · answer #5 · answered by Anonymous · 0⤊ 1⤋
I would invest the $23,000 and take the 0 percent if I could afford the payments.
2006-09-21 15:22:52 · answer #6 · answered by Anonymous · 0⤊ 0⤋
i would go for the 24250 at 0%.....you could invest the 23000 and make some money on it over the next three years.....having the loan is like compulsory saving......all the best
2006-09-21 15:16:14 · answer #7 · answered by askaway 6 · 0⤊ 1⤋
Pay $23000 and not have to get full covered insurance which is cheaper.
2006-09-21 15:16:58 · answer #8 · answered by ozniwellman 3 · 0⤊ 1⤋
if you have the cash on hand pay the cash now.
otherwise do the 3 yr plan.
2006-09-21 15:16:52 · answer #9 · answered by ♪ ♫ ☮ NYbron ☮ ♪ ♫ 6 · 0⤊ 0⤋
how bout u dont get a sienna.? they are so freakin ugly. if ur gettin a minivan ... get the honda oddysay , that shuts off 3cyls while cruising, looks alot better too. if not i would get a huyndai entourage.
2006-09-21 15:37:22 · answer #10 · answered by milkiboi 2 · 0⤊ 1⤋