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Good car for a college student in Indiana?
Because while cars almost always go down (depreciate) in value, houses almost always go up (appreciate) in value.When a bank loans you money, the only thing they have to guarantee that they will get it back is the title to what you borrowed against. If you pay the loan they get their money and then some, of course... but if you don;t, then they have to reposses and sell whatever you had and get their money back that way. With a car they will probably not be able to get the amount of the loan back, but with a house, chances are better. therefor they will be more likely to loan against a house versus a car.
why are you even thinking about taking out a car loan? just pay cash. especially for something under 5k.
Is the GPS an added option on the Grand Prix GXP or is it standard?
Because the bank always knows where to look for that 200K house. A car, on the other hand, is MOBILE.How long must you hold a job in order to finance a car?
Maybe the bank thinks you shouldn't put a sub $5k car in a $200k house?Seriously, the other answers are correct but if you already have the house loan, you may be considered maxed out (income vs expenses) and as the others said, they do not want to risk losing $$$ on a car.
How hard is it to lease a vehicle when you are trading in a vehicle that you are upside down in?
Because the bank has collateral if the house goes into foreclosure. That means they will not usually lose $$ if they have to sell the house. A car, because it depreciates in value is a losing investment for a bank if you default on the loan. Used cars have a higher default rate than new cars also. The bank looks at which one is the riskier investment.I'll assume you have the house loan already. You put down some cash with the house again I assume. Houses usually increase in value so the bank feels better about their security interest. The car won't be worth much in 5 years but the house will be worth more.
I owe more than my car is worth, How can I get rid of this High monthly payment? car? consequences?
Now, let me offer this, can you get a home equity loan for the car? That way your interest rate will be lower and you will be able to take the interest off your taxes at least up to the amount of the purchase price of the house.
My mom is giving me her old 1980 Mercedes-Benz 300 D should I keep or sell it and buy a newer car?
As a friend explained it to me:I am thinking of buying a full-size pick up truck as my next vehicle.?
The car can move.
The house is not moving anywhere.
So, they prefer to know where their money is.
After moving to a new state, can I buy a car without having a job?
Because as was previously said, property prices can go up and often do, however a car generally depreciates in valueNew toyota car with special offer?
One of the main reasons is the fact that, unlike a car, the property value will probably Never go down and actually increase in value. A car will decrease rapidly in value, so lending on a property is a safer bet, as well as to foreclose, sale and the loan company being basically Always able to get their money back, should you fail to make payments.Is it normal for a dealership to charge you for power windows and door locks?
Evicting you from a house is easier than repo'ing a car.More Questions & Answers ...
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