Monthly payment TRX?

Bambi

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My credit score is 768, what rate is good base on this score?
2% or less. Maybe 2.5 if it’s a long term.

I financed the full amount less 3k because 1.79% is better than inflation. I put the money I would’ve spent on the truck into investments that return way more. Doesn’t make sense to pay cash with interest rates this low. Put the money into a stable growth investment that returns more than your interest rate.
 

Tom488

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I’m bringing buckets of nickels
Roughly 87 5 gallon buckets, weighing 10 and 3/4 tons (making each bucket weigh about 250lbs). I'd put them on pallets, 12 buckets to a pallet, 3000lbs. each, in a semi trailer. Hope they have a loading dock and a forklift.

Take video :)
 

Bambi

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If you're paying cash, just go to your bank and get a certified check.

That way the dealer knows it's legit.
Just because I wanted to feel like a baller when I was younger, I went to the bank and pulled (a lot of) cash for a car. Paid in banded stacks at dealer from a duffel bag. They wigged out. :cool:

After about 15 minutes I offered to show them the withdrawal slip from the bank lol.

Ended up getting audited but was worth it.
 

Raven

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Straight cash homey.
 

grapple22

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I will be paying cash for my TRX! However this will be my first rodeo . . . there is a bank up the street from the dealership I'll be buying at. How does that work usually? If I fly in to buy the TRX do we go to the bank together and I get a cashiers check? Do I just write the dealer a personal out-of-state check?

. . . how does that typically work when paying cash?
Either a wire transfer or cashiers check will work. A dealer will not go to the bank with you, this happens when you are buying/selling from a private transaction so the seller can verify funds.
 

Bambi

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So would I just ask for a loan to my bank for just a down payment?
You go online. Search who has the best rates. If you don’t have a fico score above 700/750 AND Auto payment history for a vehicle of similar price you probably won’t qualify for their lowest rates.

Pick a few that are reputable and have the best rates. If I wasn’t sure I would qualify I would go to a branch in person and speak to a human but all this can be done online or by phone.

So submit your details to the bank so they can check your credit history. These are hard hits on your credit profile so don’t do 20 banks. Try to keep it to 3 or less (I just made up this number…. 4 is fine. 36 isn’t). The credit agencies don’t give you a black mark for multiple hits in 30 days because it looks like you are shopping for a new car. They get nervous when it looks like someone is maxing out their credit.

You tell the bank the details of the truck you want and out the door price. They tell you how much financing you qualify for. Higher risk borrowers (no/little/non-comparable auto financing history and/or “bad” credit) get less $ available to finance and worse rates.

once you choose a bank, they will provide you with an authorization letter. When you buy the truck you provide those details to dealership. If you want to be cagey, negotiate the price pretending you will just take their financing. They get a cut of all financed vehicles done through them. Then once price is in writing you use your bank.

Make sense?
 
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Sub-zero

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You go online. Search who has the best rates. If you don’t have a fico score above 700/750 AND Auto payment history for a vehicle of similar price you probably won’t qualify for their lowest rates.

Pick a few that are reputable and have the best rates. If I wasn’t sure I would qualify I would go to a branch in person and speak to a human but all this can be done online or by phone.

So submit your details to the bank so they can check your credit history. These are hard hits on your credit profile so don’t do 20 banks. Try to keep it to 3 or less (I just made up this number…. 4 is fine. 36 isn’t). The credit agencies don’t give you a black mark for multiple hits in 30 days because it looks like you are shopping for a new car. They get nervous when it looks like someone is maxing out their credit.

You tell the bank the details of the truck you want and out the door price. They tell you how much financing you qualify for. Higher risk borrowers (no/little/non-comparable auto financing history and/or “bad” credit) get less $ available to finance and worse rates.

once you choose a bank, they will provide you with an authorization letter. When you buy the truck you provide those details to dealership. If you want to be cagey, negotiate the price pretending you will just take their financing. They get a cut of all financed vehicles done through them. Then once price is in writing you use your bank.

Make sense?
Yes definitely make sense I appreciate all the info
 

timinnd

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Just because I wanted to feel like a baller when I was younger, I went to the bank and pulled (a lot of) cash for a car. Paid in banded stacks at dealer from a duffel bag. They wigged out. :cool:

After about 15 minutes I offered to show them the withdrawal slip from the bank lol.

Ended up getting audited but was worth it.

Audited by whom?
 

Bambi

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Audited by whom?
The IRS. When you pay more than 10 grand in cash (or deposit into a bank) the retailer files a report on the cash to the gov.
 
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