Unfortunately you are correct Wanderer. Mortgages and car payments are just a fact of life. It's just after not having one for so long......you know what I mean. This should be the last car I purchase though if all goes well. It's for personal use and long trips.

In following your journey I understand your desire to not take on long term debt commitments. However, vehicles and residential dwelling seem to hit the prime list of needs so one may have to flex on the issue of debt (speak with experience). As you are well aware it is hard to be employed without a reliable means of transportation (unless you live by a rail or bus line).

We haven't had a car payment in over 30 years......until now. There was 300,000 miles on the one we traded, 230,000 on the one we kept and we needed something reliable "just in case." The dealership checked my credit score, found out it was fantastic and financed a 2013 vehicle with 17,000 miles on it @ 5% for 72 months through a local bank. I hate a car payment but it's what we had to do this time. It should build my credit score even more.

Oh boy you ask a good question? I used to buy vehicles that the different car manufacturers got back from lease turn ins or Ford Rep vehicles with most of them around 9,000 to 23,000 miles and factory warranties left. The pricing was good and the depreciation loss was already factored into the sale price (could check Kelly Book or the NADA Book value) of the vehicle. Did real well with used former lease units (reliability). Unfortunately, the interest rate often ran 2%+ to 6.75% as used. Never used a Credit Union for a vehicle loan but I have been a CU Member and their rates were good.

Thinking about new versus used when it comes to vehicles. do you think getting a 0% interest loan offsets the depreciation that new vehicles experience? The immediate depreciation has been my main reason for purchasing used, but I wonder if that type of loan would negate the difference.

Oh ... did not realize ... my loans were on new. Used is a whole 'nother market for interest rates. Note, you may still be well advised to visit with Credit Unions as they are very relationship based and could toss you good rates.

I've been wondering about the online auto loans myself. I don't usually qualify for 0% financing because I always buy older vehicles. My husband and I own four big trucks and SUVs and I have a $15,000 limit in my head that I am not willing to exceed. Call me cheap.

Hear tell that Credit Unions are really good for auto loans and they often times have sharp pencils. For me over the years ... Ford Motor Credit has given me many 0% loans at 60 months so I don't even shop (how can you beat 0%?).

How many people have ever tried to take out an online auto loan before? When I was searching for a loan to get my car, I looked around the internet for local banks. I got approved by all of them, since my credit score is great, just not for the amount that I was requesting. Are there other online places to look at for auto loans that I don't know about?

:scared:Hello, I'm the newbie who just, with Meya's help, learned how to start a new thread; and i'm hoping i started this one in the right place.