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A home can easily be an asset that doesn't appreciate. Having negative equity in a home or losing a home because of over extending yourself are real possibilities. Most of us who lived through 2008 and the housing bubble are only too aware of how fickle the real estate market can be.

Where I worked a number of people who lost their jobs in California when a major manufacturer shut down transferred to our workplace, also had a terrible situation when they had to sell their home for a loss. As people flee places in our country for various reasons their real estate prices are affected. In places like Detroit and Chicago you can buy homes for a $1.

On a local level I was a mechanic in industry and now supplement my income by correcting wiring and plumbing in homes for a realtor.
In our sister city there was a construction of a new school and redistricting of the area, which made certain areas not as desirable to live. These property values fell considerably. Rezoning in an area also can negatively affect property values. Other factors that affect real estate could be a neighborhood dynamics change as the homeowners age, properties in the area transition to rentals and far too many other factors to mention.
I suspect you already knew the many factors affecting real estate not appreciating and just wanted to yank the chains of people who foster the idea of financial responsibility
 

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Discussion Starter #22
Went in to see a Toyota dealer here in the East Coast. Test drove the 2019 SE. I love how smooth it rides and handles.

The Dealer's offer is as follows:
0 downpayment, $844 for 72 months.

What do you guys think? Does this price seem fair? This is for the 2019 FWD SE Standard package. Thanks!
You're Asian... how come you didn't do the math?... I can say this cause I am Asian, too...
I did the math. I just wanted to have a realistic offer/counter offer. The salesperson did mention that the vehicle's price was $44,650 (+tax)..which would roughly be $51k+.
Factor in the interest then that would be higher.
 

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Hello, I recently purchased the 2019 SE with preferred package and I was able to get Toyota’s special financing that ends on 2/4/2019. I did the 72 months at 1.9% they also have 60 months for 0.9% right now.
 

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According to my licensed Certified Public Accountant wife, the only appropriate down payment on a depreciating asset such as a vehicle is 100%.
On the other hand, if one is taking a GAP insurance, the downpayment defeats the whole purpose of the GAP insurance, as one would never recoup downpayment.
 

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On the other hand, if one is taking a GAP insurance, the downpayment defeats the whole purpose of the GAP insurance, as one would never recoup downpayment.
I suppose a down payment could be seen as "defeating" the purpose of gap insurance to some extent if the buyer is certain that his vehicle will be a total loss during the loan term, e.g. if the buyer plans to push his vehicle over a cliff.

My comment about the only acceptable down payment being 100% was meant to be somewhat "tongue in cheek" although the financially conservative approach is to avoid borrowing money in order to buy depreciating assets for personal use.
 

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According to my licensed Certified Public Accountant wife, the only appropriate down payment on a depreciating asset such as a vehicle is 100%.
That's why I don't buy a new car, but always a used car. 100% down and no monthly payment and no big insurance car payment because I only have liability, no comp, no collision.
 

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Went in to see a Toyota dealer here in the East Coast. Test drove the 2019 SE. I love how smooth it rides and handles.

The Dealer's offer is as follows:
0 downpayment, $844 for 72 months.

What do you guys think? Does this price seem fair? This is for the 2019 FWD SE Standard package. Thanks!
I would recommend to get an electric or hybrid car, a new one, but as loan. It will be cheaper to maintain this car in the future + you save money on gas. It is really up to you, from where to loan money. There are a few options how you can do it: bank, dealership or 3rd party financial companies. I personally decided to work with the last option, since they have clear contract and no hidden fees. As example, check this article https://plscashadvance.com/california-loan-rules-practical-guide.html. It is showing that these 3rd party financial companies are even better than banks. Good luck friend!
 

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Buying a new car with loaned money is a mistake. Buying a car with loaned money and not buying insurance is a disaster. After all, it's better to buy a second-hand car and in the end, invest some money in it and sell it.
 

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The value of a car depreciates the minute you exit the dealer's shop. So it's a very bad thing to borrow money for which you'll to pay some extra for an item that loses his value in the first minutes.
 

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I think a bank would make a better offer for that sum. Have you tried to ask? Most banks have credit calculators on their website so you can check it out. It would be a horrible mistake to pay an extra pf 20k for a loan from the dealer. These are easy money for them and a lot of people are fooled by the small money amount and the long period of time. An online calculator you can find on this site.
 
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