I wish car payments were like credit card payments

Foxrac said:
*whisper* point at Ambrosia - she's crazy and smiley *whisper*

I don't understand why Derek used Target layaway and his post confused me.
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Reread post #3, that might clear up your confusion about Derek's post about layaway payments, Derek's post made perfect sense in context.
 
ChicagoBlue2 said:
He was using it as an example. Many bicycle stores around here do not let you walk out with the bike until you have paid in full; Target and Walmart do this, as well. However, there are a few that do, and their rules are really strict.
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Ok, I think Walmart only have layaway during holiday season so unsure about Target.
 
Here is caveat about no payment for x months, don't forget that!!!

Don't believe me? Go ahead read the damn fine print, hope your eyes can see tiny fonts, otherwise get damn magnify glass and see for yourself. Not understand the language, ASK somebody else to translate for you.

Supposed you were able to pay off within 6 months, sure no interest charges on you, BUT, I mean seriously BUT if you failed to pay within 6 months, you will be charged interest from the day 1 that you took out the loan! So with automobile loan, I don't see how this is possible for average buyers, unless they refinance their auto loan WITHIN 6 months. Used car dealer technically can do that, but government could view this as shark loans and can consider them illegal so likely it won't happen.
 
diehardbiker said:
Here is caveat about no payment for x months, don't forget that!!!

Don't believe me? Go ahead read the damn fine print, hope your eyes can see tiny fonts, otherwise get damn magnify glass and see for yourself. Not understand the language, ASK somebody else to translate for you.

Supposed you were able to pay off within 6 months, sure no interest charges on you, BUT, I mean seriously BUT if you failed to pay within 6 months, you will be charged interest from the day 1 that you took out the loan! So with automobile loan, I don't see how this is possible for average buyers, unless they refinance their auto loan WITHIN 6 months. Used car dealer technically can do that, but government could view this as shark loans and can consider them illegal so likely it won't happen.
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No, an introductory interest free period, not a no payment period. What you're talking sounds more like the deals you can get buying furniture......
 
OP didn't mentioned introductory period and he mentioned fast payment so....

The difference between credit card and auto loan is that credit card isn't short term accounts like auto loan where it has fixed term to the point where it must be paid off and closed.

ambrosia said:
No, an introductory interest free period, not a no payment period. What you're talking sounds more like the deals you can get buying furniture......
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diehardbiker said:
OP didn't mentioned introductory period and he mentioned fast payment so....

The difference between credit card and auto loan is that credit card isn't short term accounts like auto loan where it has fixed term to the point where it must be paid off and closed.
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yup he did, he said " You know that many credit card companies give you 6 months of interest free payments. After that, it is high interest payments."

but I imagine it's just like credit card companies, if you miss a payment or or late deals off.
 
ambrosia said:
I sure as hell wouldn't make 3 years of car payments before I got possession of my car.......yeah no bueno.
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We don't do that here but I think that's how it used to be in the Soviet Union. You had to pay full cash up front or make all the payments first, then the dealer put in the order for the car (a Volga). Then, the buyer had to wait for it to be made and delivered. I think it took like another year. And the Volga was an El Crappo car (made in the USSR).
 
Reba said:
We don't do that here but I think that's how it used to be in the Soviet Union. You had to pay full cash up front or make all the payments first, then the dealer put in the order for the car (a Volga). Then, the buyer had to wait for it to be made and delivered. I think it took like another year. And the Volga was an El Crappo car (made in the USSR).
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Good gravy what a monumental pain in the ass!!
 
dereksbicycles said:
This isn't about using credit card to buy a car. You know that many credit card companies give you 6 months of interest free payments. After that, it is high interest payments.

I wish that car dealers would give customers option of doing 6 month interest free payments. That is if customers can pay fast. I wonder if car dealers do something like this only that I don't know about it.
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I know on my car loan I had 3 years interest free payments. The car before this one was 1 year interest free. :dunno2: Honestly I think it would be harder to get interest free on a credit card if you were carrying a balance that is... :dunno2:
 
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