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Posted

 

Yes, its theoretically plausible IF you keep the 50k in the whole time and you make the 5.5% for the whole 7 years. do you know how to do this? if its in the stock market, he's just as likely to make 0$ or lose money.

 

If anyone has a way to guarantee that return, please share with all of us so we can all become rich.

I'm not a money guru. I have been very lucky though. Of course the returns are not guaranteed but to me 5.5% is much lower than my returns have been. My timing could not have been better but it's definitely better to be lucky than smart.

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Posted

50K over 84 months with an annual rate of growth of 5.5% would be nearly $73,000. Not sure why you guys think that's so crazy.

 

 

Are you high? Serious question.

 

If everyone could do that we would all be rich. The reality is far far different especially in today's economy. Please remove head from rectum before posting in the future.

 

 

I'm not a money guru. I have been very lucky though. Of course the returns are not guaranteed but to me 5.5% is much lower than my returns have been. My timing could not have been better but it's definitely better to be lucky than smart.

Better to be lucky than smart? No way he just said that! PFFFFFTT! ROFLMAO!
Sorry to burst your reality and let you know you got a poor deal on purchase but it is no ones fault but your own. Next time when something looks like a gimmick take the time to realize why it may be. And always pay cash for your car if you want best price.
Go to GMC.com right now and look at the offer and note the fine print!
1. At participating dealers only. On 10% of select vehicles in dealer stock while stock lasts. Not compatible with special finance, lease and some other offers. Tax, title, license, and dealer fees extra. Take delivery by 9/30/16. See participating dealer for details.
Posted

I live in a city where house prices have gone from under $400k when we bought in 2001 to over $2mil today. We pulled all of our savings, every cent in 2007 and bought a rental property and avoided the crash in 08'-'09. Once we had income coming back in again in '09 we were reinvesting our money at extremely low prices and have gotten huge rates of return as the markets have bounced back.

 

We were able to do this not because of financial genius but pure dumb luck. I don't know much about money, I pay a company a percentage to handle my investments. So do you think it's better to be smart like you or lucky like me?

Posted

I live in a city where house prices have gone from under $400k when we bought in 2001 to over $2mil today. We pulled all of our savings, every cent in 2007 and bought a rental property and avoided the crash in 08'-'09. Once we had income coming back in again in '09 we were reinvesting our money at extremely low prices and have gotten huge rates of return as the markets have bounced back.

We were able to do this not because of financial genius but pure dumb luck. I don't know much about money, I pay a company a percentage to handle my investments. So do you think it's better to be smart like you or lucky like me?

smart like me. I paid 38500 cash for my truck. Made the dealership buy it from GM and do an in house lease at cash price wih 6% interest but paid whole lease upfront so paid $0.0 in interest and owe 21.5k residual value. TODAY it it worth 35.5k so 3k less than I paid and driven since april 28 2015.

http://www.canadianblackbook.com/black-book-values/mobile/index/display/neworused/used/year/2015/make/GMC/postalcode/v8v1h3/model/Sierra%201500/mode/tradein/trim/SLE/style/Double%20Cab%20SWB%204WD/selectedoptions/_/currentkilometers/12000/iiyear/2017/iimake/GMC/iimodel/Undecided/interval/0-1%20Month

 

I could walk in today and get nearly 14k back of the 17k i paid initially or put it towards my next car.

 

P.S. Congrats for living in Vancouver I am from Victoria which is a literal stones throw away. No way you got $20k off on truck month that is a flat out lie bub.

Posted

 

Not compatible with special finance, lease and some other offers.

 

Alpine,

OK, we get it, try to take a breath. Can I just point out one thing?

 

Your fine print doesn't exclude "any and all" financing, only SPECIAL financing. That means the dealer will still offer you to finance for the same price you paid for in cash. I tried asking my dealer for a cash discount and he laughed. They don't want your cash, they want you to sign a payment plan with them raping you on interest.

Congrats on being able to buy with cash as not many people can do that. But I don't believe you got a lower price than any Tom Dick and Harry would have gotten right after you left the showroom. You saved interest on the back end and that is great. If everyone did what you did, then no one would be upside down on their automobiles.

 

But I'd take a little luck on my side any day.

Posted

I prefer the on star app because I can send a address to my my link screen from it.

 

You can do this with the MyGMC and MyChevrolet apps too ...

Posted

 

Alpine,

OK, we get it, try to take a breath. Can I just point out one thing?

 

Your fine print doesn't exclude "any and all" financing, only SPECIAL financing. That means the dealer will still offer you to finance for the same price you paid for in cash. I tried asking my dealer for a cash discount and he laughed. They don't want your cash, they want you to sign a payment plan with them raping you on interest.

Congrats on being able to buy with cash as not many people can do that. But I don't believe you got a lower price than any Tom Dick and Harry would have gotten right after you left the showroom. You saved interest on the back end and that is great. If everyone did what you did, then no one would be upside down on their automobiles.

 

But I'd take a little luck on my side any day.

 

 

 

https://www.mortgagechoice.com.au/car-loans/truth-about-zero-percent-car-finance.aspx

 

 

 

 

 

 

Posted

 

 

I really wanted to understand what you are getting at so I listened to most of these. What they all assume is:

A) you are financing at a gimmick 0% rate, not a normal rate

B) some manufacturer rebate or incentive magically disappears if you finance that you would get only if paying cash.

 

If those two conditions are true, only a fool would take the dealer financing.

 

Now, When I bought my truck, I asked if there was a discount for cash. the saleman told me NO. So was he lying to me? I got every advertised incentive and discount. The price would have been the same if I emptied my bank account on the spot or financed the whole thing. I didn't get any gimmick interest rate, but they offered me 1.9% because my credit score is over 800. I ended up paying about half down and financing the rest, only to pay it off 9 months later.

 

So if you are only cautioning people to avoid 0% interest offers, then please clarify that. But if you are trying to say that cash always gets a better price than any finance deal, I don't believe it.

 

I can find articles online to agree with my statement as well:

http://www.carprousa.com/will-get-better-deal-paying-cash-car-car-pro-commentary

Posted

Is this another one of those financing vs cash threads or an app thread?

 

I wasn't aware of the My Chevrolet app, I'll have to give that one a try. My onstar app takes a couple minutes to start or lock the truck.

Posted

The My Chevy app is the same. It still takes time for yoyr phone signal to make it up to the big bird in the sky back down to your OnStar receiver.

 

Is this another one of those financing vs cash threads or an app thread?

I wasn't aware of the My Chevrolet app, I'll have to give that one a try. My onstar app takes a couple minutes to start or lock the truck.

Posted

How did a thread about OnStar turn into a financing vs buying outright with cash thread? Can you make your car payments in the My Chevy app? I never noticed that.

Posted

How did a thread about OnStar turn into a financing vs buying outright with cash thread? Can you make your car payments in the My Chevy app? I never noticed that.

 

The last line in post #10 started all the finance crap. No payments with the app that I'm aware of either.

Posted

No matter how the numbers are twisted buying a NEW vehicle is financially stupid. Yes I am guilty too, just make sure your financial situation can easily afford some stupidity and go get what you want.

Posted

No matter how the numbers are twisted buying a NEW vehicle is financially stupid. Yes I am guilty too, just make sure your financial situation can easily afford some stupidity and go get what you want.

 

smartest guy in the room ... spot on !

 

so the mychevy app is just a replacement for the onstar app ,,,, my 15 has free 5 year plan

Posted

Is this another one of those financing vs cash threads or an app thread?

I wasn't aware of the My Chevrolet app, I'll have to give that one a try. My onstar app takes a couple minutes to start or lock the truck.

If you are close enough to truck to notice time lag, why not just use key fob?

 

I've only truly needed app once to unlock truck. We were 75 miles away camping and BIL needed trailer key from my truck. I have no clue if it took 2 seconds or 10 minutes but it was nice to use app to unlock truck. He texted when he had key and I then re-locked truck.

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