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Jason Sant
I heard Car rentals auction out their cars for really low prices. One of the workers told me that they sold a Nissan GT which is worth 79k for 21k and the milage was only 12000 but unfortunately they stopped selling them to the public and now sends them to car dealerships. I want to get the best deal for my luxury car.
Answer
No offense but if you want a cheap luxury car, you probably don't have the money to pay for the maintenance of the car. Insurance is going to be higher and average cost of ownership is $10,000 a year or more for luxury cars.
No offense but if you want a cheap luxury car, you probably don't have the money to pay for the maintenance of the car. Insurance is going to be higher and average cost of ownership is $10,000 a year or more for luxury cars.
If you have really bad credit can you get a luxury car like Lexus if you give a good down payment?
Jem
Specifically a 2010 lexus rx350 from a used car dealership also how much would be a recomended down payment?
Answer
Terms vary per lender, depending on the lender. One thing is sure: if you have bad credit, they'll ding you with a higher interest rate (maybe ridiculously high). As for down payment: the more, the better! Cash is "king"! Personally, I don't even like to consider putting down anything less than 25%... But that's just me.
When it comes right down to it, you have to do the math on payments you can afford each month and for how many months. (I wouldn't consider anything more than 60 months, for payments totaling no more than 15% of monthly take-home... But that's just me!) You won't be able to use an online monthly payment calculator (or your own business calculator) until you know all the terms, such as interest rate, term of the loan, etc.
I recommend you not overextend yourself!
Terms vary per lender, depending on the lender. One thing is sure: if you have bad credit, they'll ding you with a higher interest rate (maybe ridiculously high). As for down payment: the more, the better! Cash is "king"! Personally, I don't even like to consider putting down anything less than 25%... But that's just me.
When it comes right down to it, you have to do the math on payments you can afford each month and for how many months. (I wouldn't consider anything more than 60 months, for payments totaling no more than 15% of monthly take-home... But that's just me!) You won't be able to use an online monthly payment calculator (or your own business calculator) until you know all the terms, such as interest rate, term of the loan, etc.
I recommend you not overextend yourself!
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