Mshukayr Posted August 12, 2003 Report Share Posted August 12, 2003 I know there is no doc and niv loans for homes, is that type of loan also available for autos.If I am not going to go thru the hassle of being self employed and showing all the docs for a home, why would I do this for a car?Would it just be better to walk in and pay cash for a car (even though this ties up a lot of cash) or do an auto loan? Link to comment Share on other sites More sharing options...
Watsonsbag Posted August 21, 2003 Report Share Posted August 21, 2003 If you can pay cash for a car, in my opinion then do it. Or put the most down you can comfortably afford. Cars depreciate extremely rapidly and so you end up paying the principal plus interest and, unlike a home, the auto will not be worth anything near what you paid for it.Most of us have to get some kind of auto loan, and dealers love this because they get a kickback for arranging financing. The best bargains right now are used cars with low mileage. You save thousands and get a decent car. With the 2004 models coming out, fleet cars are becoming available and they're a great deal.Just my opinion--others may differ. Link to comment Share on other sites More sharing options...
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