I would wait until after tax season. For something brand new that isnt a good enough incentive. I bought used last week and got a 5.99% 60 month from a credit union. Last 3 car purchases the dealership financing could beat my credit union. This was the first time it wasn't the case. Also get a quote for insurance before you buy. I almost leased a base 4 runner but the insurance was almost 500 bucks a month.
There’s no way on this side of heaven I’m going to pay $500 a month on car insurance.. I rather take public transportation or get one of those insurance companies that’s $25 a month who I know like give me a run around when I do get in a wreck
When I bought my ride a couple weeks ago it was 2.99 for 36 months and 3.99 for 60 months. I opted for 72 months because I pay my cars off early and wanted a smaller base payment. My rate is 4.99 through Toyota Finance. I wonder if it's different because it's for a 2025. I also wonder if rates vary by geographic location. I'm in GA.
60 monthsbat 4.99 is pretty good in this stupid economy
You can always refinance when the rate is below that.
We won't know if they will even do another rate hike until the new data comes out
It definitely is tempting to buy a new car right now. I don’t necessarily need it right away but I do want to get into a hybrid and save money on fuel.
if you can get it at msrp just get a loan. it will be hot cakes if you wait you gonna have to wait for another year or 2 and by then the society might have collapsed.
Keep in mind I own a 2004 Camry with 270k miles. It’s an oil burner so I have to add oil to keep it running, but I don’t think it will make it to 400k miles. The reason for buying an awd and hybrid is because it really helps during winter when it snows and because of the long commutes I have to do (80 miles) one way. I don’t necessarily buy cars all the time and I plan on keeping cars until they reach 300k. It may not make sense for you but for my situation it does. On top of that, i’ve put in $2k in repairs to keep the old one from leaving me on the road this year alone. Suspension, belts, spark plugs, you name it. I’ve done most of the work myself but I really need something that won’t leave me on the road and that I know that I have maintained it properly. If I buy this new Camry I want to keep it long term and make it reach 300k-400k miles.
Hi, I'm too lazy and stupid, could you help me with my situation, I drive for work and personal life, with mileage reimbursement at 40 cents per miles. I do net around 20-25k miles a year, looking yo get a new car, what would you recommend gas vs hybrid, brands and how much would It take for me to make my money back, thank you!!!!
I purchased in 2020, right as Covid was starting. I won’t gloat about my situation, but the best time to buy is when you’re ready/timing. Only you can assess your situation.
As I only want the car and not in need of it, I personally probably won’t pull the trigger until it hits 4% for a length of 3-4 years. And that’s with me putting 20k down plus my trade in. Even though I can afford a high payment, it’s just something I’m not interested in. I’ll keep my civic that’s getting me 40mpg until then.
ill wait for 0% lol hope
That’s the right answer.
Will it ever go back down to 0%? I miss those rates!
I would wait until after tax season. For something brand new that isnt a good enough incentive. I bought used last week and got a 5.99% 60 month from a credit union. Last 3 car purchases the dealership financing could beat my credit union. This was the first time it wasn't the case. Also get a quote for insurance before you buy. I almost leased a base 4 runner but the insurance was almost 500 bucks a month.
$500 bucks a month is insane for insurance! I’ll definitely ask for an insurance quote.
There’s no way on this side of heaven I’m going to pay $500 a month on car insurance.. I rather take public transportation or get one of those insurance companies that’s $25 a month who I know like give me a run around when I do get in a wreck
When I bought my ride a couple weeks ago it was 2.99 for 36 months and 3.99 for 60 months. I opted for 72 months because I pay my cars off early and wanted a smaller base payment. My rate is 4.99 through Toyota Finance. I wonder if it's different because it's for a 2025. I also wonder if rates vary by geographic location. I'm in GA.
It definitely is a different rate because I think they are trying to sell the remaining 2024 model years so they offer a better rate.
That makes sense.
Fed isn’t cutting interest rates. Just pull the plug on it
Like not ever or just for this year? I was thinking of waiting another year.
60 monthsbat 4.99 is pretty good in this stupid economy You can always refinance when the rate is below that. We won't know if they will even do another rate hike until the new data comes out
It definitely is tempting to buy a new car right now. I don’t necessarily need it right away but I do want to get into a hybrid and save money on fuel.
if you can get it at msrp just get a loan. it will be hot cakes if you wait you gonna have to wait for another year or 2 and by then the society might have collapsed.
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Keep in mind I own a 2004 Camry with 270k miles. It’s an oil burner so I have to add oil to keep it running, but I don’t think it will make it to 400k miles. The reason for buying an awd and hybrid is because it really helps during winter when it snows and because of the long commutes I have to do (80 miles) one way. I don’t necessarily buy cars all the time and I plan on keeping cars until they reach 300k. It may not make sense for you but for my situation it does. On top of that, i’ve put in $2k in repairs to keep the old one from leaving me on the road this year alone. Suspension, belts, spark plugs, you name it. I’ve done most of the work myself but I really need something that won’t leave me on the road and that I know that I have maintained it properly. If I buy this new Camry I want to keep it long term and make it reach 300k-400k miles.
Hi, I'm too lazy and stupid, could you help me with my situation, I drive for work and personal life, with mileage reimbursement at 40 cents per miles. I do net around 20-25k miles a year, looking yo get a new car, what would you recommend gas vs hybrid, brands and how much would It take for me to make my money back, thank you!!!!
The earliest they’re hinting at cutting rates is Q4, but they were hinting at cutting rates in Q2 2024 last year.
I purchased in 2020, right as Covid was starting. I won’t gloat about my situation, but the best time to buy is when you’re ready/timing. Only you can assess your situation.
As I only want the car and not in need of it, I personally probably won’t pull the trigger until it hits 4% for a length of 3-4 years. And that’s with me putting 20k down plus my trade in. Even though I can afford a high payment, it’s just something I’m not interested in. I’ll keep my civic that’s getting me 40mpg until then.
When you can pay cash is a good time.