Buying a car in the Air Force?
Both. There is no point in buying a car right now. You will be at basic and then in tech school. I know when i went through tech school, we weren't allowed to drive until quite some time into training. I would recommend waiting until you get to your permanent duty station (this would prevent you from having to drive it from your tech school as well). Additionally, what if you get picked up for an assignment like Korea or Japan? What will you do with your new car then? You can ship it over there I suppose, but there's really no need. Also, unless you are very good at managing your finances, a vehicle that expensive is probably not the best of ideas. As an E-2, you are not going to making *that* much money. Literally, more than half of your check will end up going to car payments and insurance. I would seriously wait to buy a new car. There is a big pay increase once you get E-4 (it won't be that long) and you should be able to afford it better at that time (again, providing you are good with your finances). If you are set on getting one right now, or even when you finish training, I would go with something cheaper. There are also good "first time car buyer" seminars that the AF offers as well as special financing for military. :) EDIT: As an E-4 you will have a lot more flexibility... I drive a Lexus and have several friends (E-4s) who drive bad-@ss cars (Titan, G35 coupe, RX-8, 350Z). EDIT: To the poster below me, I don't know why you can't afford it... I have other debt besides my car payment (well, not anymore cause being in Iraq since January has allowed me to pay everything else off) and yet I could still afford over $500 a month for my car payment, $200 for insurance and $800 for rent. And I was still able to contribute over $200 a month to my TSP. No I'm not married, but I "live as married" and when we actually DO tie the knot next year, that is just more money I will make so what does that have to do with it?
Buying my first car at a dealership what do I need to know?
Iv been working at my job for over a year now and I make 15 dollars an hour. I have bad credit but I just want to have an idea of what it's going to be like. Will the dealer sell me a car that day if I find one I like? I'm thinking about a used car 15000 and under maybe 10000. I can put like 2000 down. What do I need to take with me besides my money?
If i can buy a car today for $5000 and it is worth $10000 in extra income next year to me because it enables m?
It depends on the fine print. For one thing, a loan at 90% could easily cost you more in interest than the amount of principal due to compounding, how long you need to repay the loan, etc. The expected future cash flow will give you a clue: You would be expected to receive $5000 in loan proceeds now, you would be expected to receive extra income ($10,000 total over a one-year period), but you would have to pay back the loan somehow: would this repayment add up to more than the extra cash receipts from the loan proceeds plus the extra income. Also, factor in the reputation of the loan shark. The steroetype of a loan shark is that of someone using brutal collection techniques. Consider what would happen, for instance, if the car broke down or you had a medical problem and you lost the expected income from the job. I can make a case for legal loan-sharking: It provides funding to people who have no other means of getting the funding. However, it only benefits society if the people who use these services are well informed about the costs involved, what their options are, and don't get caught in a trap where they constantly have to take out more such loans in order to pay for the previous ones.
Do I need a down payment to buy out my leased car?
Do I need a down payment to buy out my leased car?Maybe, maybe not. It all depends on your credit rating and if the buy out of your car is in line with the value of the car today. The only way to find out is to apply for credit to purchase the car. I would suggest you go to your bank with your lease agreement and tell them you want to buy the car plus taxes and tags; then go to the dealer and tell them the same thing. They will tell you if you need to make a downpayment and, if so, how much.I have purchased an off-lease vehicle with no money down because the residual was a lot less than the value of the vehicle at lease end.
What to do after buying a car with no title? (FLORIDA)?
THANKS for all the answers, you guys really are right. I knew better, but yet the guy was honest with me from the get-go about everything good and bad about the car and about the title, so I guess I just trusted him. Not that this has much of a point, but the guys spouse was a man, not a woman...men do things a little different than a man/woman couple. His partner put it on craigslist before saying something to him about it and he didn't think someone would respond so quickly and want to buy it right there. I bought it within 2 hours of him posting it online.
In the UK, if I buy a car can I tax and insure it there and then so I can legally drive it home?
Yes - when you buy the car you are given the ‘new owner’ section if the previous owner’s v5 doc which has the details required to tax the vehicle which you should do immediately after purchasing the vehicle and before driving off. I had to do that when I bought my motorcycle from the Kawasaki dealership and they set it up for me (works the same for bikes and cars). If you are buying privately then simply go on the government site on your phone and do it there and then. Also, tax does not get passed onto new owners like it used to and must be done by each new owner.For insurance, if you buy (new or used) from brand dealers (I.e. Mercedes or Ford etc) they tend to offer free drive away insurance which usually lasts about 7 days allowing you to get yourself insured. But this is not always the case depending on the vehicle and your age, and whether or not their insurer is willing to insure you. For example my parents bought a used Mercedes from a Mercedes dealer but I could not be included on the drive away insurance as the insurer refused to insure me (being an 18 year old and the car being relatively fast).If the dealer is privately owned then some offer drive away insurance but the conditions and whether or not they offer it depends on who the dealer is.If you are buying from a private buyer then I suggest you prepare an insurance quote in advance, and if you do end up buying the car then you can log back on with your reference number to the quote on your phone and pay for the insurance which usually starts covering you as soon as you pay, and then you can drive away.In no circumstance can you drive away without taxing and insuring the vehicle. You have the option to get temporary insurance if you need to before getting yourself long term insured as well.
Car gurus: Should I buy this used car?
Its a 2000 Celica GT. Owner posted it online for $2000, then reduced it to $1600. I offered all I had which was $1000. The owner said she needs the money so she will accept that offer if I buy it today. She gets off work in a couple hours so I have 2 hours to decide If I'm going to go for this car. I complimented her on the paint job and she said thank you, that she just got it done last week and it costed her $950. The car has decent miles on and from the pics it looks good and well kept cosmetically. Only one part needs fixing/replacement according to her. Its her daily driver but she just bought a newer car that she's picking up after work, which is why she says she's selling it. I asked for the VIN and she sent a copy of the title which includes the VIN. My brother ran the VIN and it says its only had ONE owner but no accidents or anything of concern. He found it odd that the car would have one owner for its age. The other thing is that for the "Issue Date" on this title, it says 2016. Underneath that it says "date of issue" and it was just last month 2019. So... what does that mean? Did she just buy this car and is selling it already?? Also she mentioned that she received a higher offer for what she was asking for, and was even receiving more offers, but was going to sell it to me (even though she'd get less money) because she wanted to keep her word. What do you think? Can the dates on the title be explained? Does the VIN history sound fake? Would you buy?
What paperwork do I need when buying a car from a Private Owner?
There are two simple but very important things you need to get from the seller *today* -- a title and "bill of sale". The title is proof that a) the seller legally owns the vehicle and 2) is making you the new legal owner. The seller should fill out and sign the section of the title that transfers ownership to the buyer (you). Without a completed title, you will be unable to register your vehicle with your state. An old bill of sale or receipt from when the seller originally purchased the vehicle is not legal proof of ownership nor will it be enough to get the title in your name. The bill of sale is basically just a hand-written (or typed) receipt. It is important because it is the seller's acknowledgement that you have paid the agreed purchase price in full. It should also describe the vehicle you have purchased, the VIN (vehicle identification number) and the terms of the sale (usually "as-is"). You may also be asked to show the bill of sale when you register your vehicle. Paying in cash is perfectly safe as long as you get the bill of sale. In fact the seller probably will not accept a check for his/her own protection. Once you have completed your purchase and have a title and bill of sale, simply bring them with you to your state's Motor Vehicle office. You will receive a new title with your name on it (or, more likely, they will give you a "temporary" paper and tell you approximately how long the real title will take to arrive in the mail). Once you receive it, keep it in a safe place at home or in a safe deposit box. Do not keep the title in your car (only the registration). Never attempt to complete a purchase without these two documents. The only exception would be if you were providing a small deposit to secure the vehicle, and make sure to get a receipt. Otherwise, if the seller offers to complete the purchase without documents and mail them to you later, politely end the transaction and ask them to contact you when they have everything in order. Most people are honest, but you never want to take a chance with something as big and important as a vehicle! Best of luck and congrats on your new vehicle!
Can I buy a car on unemployment?
I lost my job recently and am collecting unemployment. I'm looking to trade-in my current car, which I can't afford, for something cheaper. Will I be approved if I am unemployed? Also, I heard that unemployment can cancel payments if you buy a car. Is this true?