vania-janet/multiturn-rag-retrieval-data huggingface dataset:
The obvious answer for savings costs with a car is not to have a car. Of course that must be balanced against other expenses (bicycle, taxi, public transport) to do things. Generally speaking, if you need a car, ways to contain expense are to buy the least expensive vehicle with the most economical engine that meets your needs, keep it undercover (reduces damage or wear due to exposure), proactively maintain it (maintenance is cheaper in the long run than the costs of dealing with a breakdown and cost of repairs, and lack of maintenance accelerates depreciation), and shop around for a good mechanic who will maintain it at a fair price. If you do a lot of milage, or do a lot of towing, or drive under load, consider a diesel. A diesel engine often costs more each service, sometimes has a shorter service interval, but it also gets greater milage. There may be a differential cost of fuel (diesel is often a bit more expensive per volume). For towing, a diesel is often more economical, due to low end power (greater torque at lower revs) which does result in better fuel economy. It is no accident that most large transport vehicles consume diesel. Do the sums based on your usage before you buy. Accelerate as gently as possible to get to speed within traffic conditions (less fuel to get to a speed). Change up to higher gears as soon as possible as - at a given speed - economy will be better, as long as the engine has enough oomph to handle it (so don't try to start from stationary in a high gear). Don't drive faster than necessary, as drag increases with speed, and hurts economy. Similarly, reduce speed gradually, to reduce undue wear on breaks and reduce fuel consumption (sharp breaking with power assisted breaks does affect fuel economy). Drive close to legal limits if conditions permit. This reduces chances of annoying other drivers (who if they get impatient may throw rocks at your car, or collide, or subject you to road rage - which contribute to damage and insurance costs). It also reduces chances of being pulled over by police and fined for obstructing other traffic. Don't tailgate. This both consumes fuel in keeping up, and means needing to slow sharply. And increases chance of accident.
"Paying in physical cash is almost never a good idea for large purchases (unless you like being audited and/or having lots of attention from law enforcement).  All purchases over $10k in cash need to have special forms filled out for the IRS and Financial Crimes Enforcement Network, so this is not a tinfoil hat conspiracy theory... if you do that on the regular, you ARE being investigated.  When people say ""cash"" for normal purchases, they generally mean a wire transfer (e.g. buying a house ""cash"" = wire transfer between banks).  In this case, purchasing a company ""cash"" is contrasted with purchasing with stock.  So instead of getting $13.7B of AMZN, Amazon takes out a loan (or pulls their money from cash on on hand) and transfers it to the financial institution handling the sale.  Everyone who owns WFM stock gets paid out in cash, as opposed to receiving some number of shares of AMZN."
Here's my take: 1) Having a car loan and paying it on time helps build credit. Not as much as having credit cards (and keeping them paid or carrying balance just enough to be reported and then paying it), but it counts. 2) Can't you set in your bank, not the lender, something to pay the car automagically for you? Then you will be paying it on time without having to think on it. 3) As others said, do read the fine print.
I agree with the consensus as far as getting a cheaper car, paying with cash, getting a more fuel efficient car, etc.  But I'd like to point out, you should make sure you really need a car at all.  I ride a bike to work!  If I need a car, I can use Zipcar or City Car Share or borrow a friend's car, rent a car, take the train, ride a bus, walk.  But mostly, ride my bike.  Burn fat not gasoline! ;)
If and only if by coincidence the car you were already considering from your research includes a 0% finance offer, go ahead a take the financing and save your cash. If however you are being tempted to a different car, or would spend more than you initially thought were wanted to, 0% financing is just another trick to get more of you money. Just be honest why you want the car: is it a good price, or does the financing seem like a good deal?  Even if you are not paying interest, you are paying principal.
People will argue to just pay it off and be debt free, however being debt free does NOT help your credit. And being that you own a home and a car you see the benefits of good credit. You can have a million dollars in the bank but you will be denied a loan if you have NO or bad credit. Nothing wrong with living on cash, I've done it for years, but good luck trying to rent a car, or getting the best insurance rates, and ANYTHING in life with poor credit. Yeah it sucks but you have to play the game. I would not pay down do $1 though because like someone else said they may just close the account. Pay it down to 10 or 20 percent and you will see the most impact on your credit and invest the rest of your cash elsewhere.
1.Charges or Fee: These are only applicable if you buy something use Credit Card and do not payback in time. Otherwise if you just have a Credit Card, most of them are free. There are some that charge annual fee. You will know when you apply for a card. 2a. Depoist Money [Voucher]: You can deposit money on your card account by check, or online transfer or by visiting the Bank Branch. I am not sure what Voucher you are talking about. You will have to find that out from the company that issued the voucher. 2b. Withdraw from ATM: Withdrwals are charged typically 5%, plus fixed Rs 50. Plus interest if you have not paid back in time. Are you are having excess money, there will be no interest charge. Check with the card on the exact charges. 3.Excess transfer to Bank: The excess can be transferred to Bank account by making a request to the Card Company and giving out the details. The Card Company would have a defined timeline for this. Most of the Banks that issue cards have a policy not to keep excess deposits longer. What you are trying to do it not a routine transaction and depends what you are trying to achieve.
The best thing to do is pay off the car. Adding more variables to a negotiation with a car dealer (in this case, a trade in), is always going to go in their favor. This is why people recommend negotiating a price down first, before ever mentioning to the dealer you want to do a trade in or financing.
Nofel. So basically I wanted to know how to calculate that how much should I be paying for car or rent etc? I'm not big on percentages.  Instead, I prefer hard numbers based on what you owe and what you earn. Here are rules of successful budgeting which I developed when deep in debt.  They apply to everyone: After going through this exercise, you definitely might realize that you need to move to a less expensive apartment, or trade your car in for something smaller, drink less, etc. Or even get a second job.
Debit cards are the dumbest development ever. I now have a piece of plastic that allows any yahoo to cause me to bounce my mortgage. Great. Throw away the debit card. Use a credit card and exercise some self control. Take out a sufficient amount of cash to cover your weekly incidental expenses under $50. If you want something that costs more than $50, wait a week and use the credit card. You'll find that using cash at places like the convenience store or gas station will cause you to not spend $3 for a slim jim, lotto ticket, donut or other dumb and unnecessary item.
Don't buy the new car. Buy a $15k car with $5k down and a 3 year loan and save up the rest for your car. A $500/mo car payment is nuts unless you're making alot of money. I've been there, and it was probably the dumbest decision that I have ever made. When you buy a house, you end up with all sorts of unexpected expenses. When you buy a house AND are stuck in a $500/mo payment, that means that those unexpected expenses end up on a credit card.
Update, 2013: this product is no longer available. As of December 1, 2010, Travelex announced a product, the Travelex Cash Passport, which is chip-and-pin protected. You can buy it in the US and then load it up with either Euros or British Pounds. There are a few things to know about this: Right now, it is not available online at the Travelex website. You must purchase it in person at participating Travelex retail locations. I bought mine right downstairs from the Stack Overflow world headquarters! The fees that Travelex charges for foreign currency transactions will take your breath away. I purchased a £300 card for $547.15, which comes out to a 15% service charge. Travelex will give you better rates if you purchase larger amounts. There is a further 3% fee if you use a credit card (I used a debit card to avoid this). Think long and hard about whether to load it with Pounds or Euros. They charged me 5.5% above the interbank exchange rate to spend my Pound card in Euros. You get two cards, which is very convenient. You can refill the card on the web. Due to the high fees, the Chip and PIN Cash Passport is not a good idea for everyday transactions, for getting cash from an ATM, and certainly not for paying for big-ticket items like hotels. You're going to want to reserve it for purchasing things from those automated kiosks in Europe (especially gas stations, ticket machines in train stations, and toll booths) that will not work with a standard magnetic stripe card. The card worked perfectly buying tickets on the tube in London. I haven't had a chance to check it out in other countries.
Each ATM, the machine, belongs to one or more networks. Those networks work with multiple types of cards. Each card belongs to one or more networks. The overlap of the networks the machine belongs to, and the card belongs to determines if the card works and what fees and limits apply. In general if the credit card belongs to one of the major networks (VISA, Master Card, American Express and Discover) you shouldn't have a problem finding a ATM that will give you a cash advance, or even a cash advance without an ATM Fee. Each credit card network should have a web interface to show you where the ATMs are that will work with the card. If it is a store credit card it still might belong to one of the major networks.  If the bank that issues the card is local you can probably get a cash advance at the bank branch. Use the website to see if the ATM/Branch  locations are convenient for you. The actual limits are a function of the card type, and the credit limit that you have been approved for. In my experience the maximum amount of cash advance outstanding is half the credit limit, but you need to check with your card.  Keep in mind unless you have a special offer from the credit card company expect that there will be a fee charged by the credit card company for the cash advance, this is in addition to a fee charged by the ATM.  Also remember that interest starts to accumulate on day one of the cash advance. It isn't  like a regular purchase that might not be charged interest until the cycle closes and the payment is due.  The documentation from the credit card company will describe all the fees and limits.
Everybody on the car title will need to participate in the selling process. The person who is buying the car will need everybody to sign the paperwork so that nobody months later tries to say they never agreed to sell the car. The money will have to be sent to the lender to pay off the rest of the loan. If the money isn't enough to pay off the loan everybody will have to decide how the extra money will be sent to the lender. This will have to be done as part of the selling process because the lender doesn't want you to sell the car and keep the cash. Once the car is gone so is the collateral and they can't take it back if you miss payments.  If the cousin is too far away to participate in the selling of the car, you may need the buyer and the lender to tell you how to proceeded. If you are selling at a dealership they will know what documents and signatures will be needed, the bank will also know what to do. If the loan is almost paid off it may be easier to pay the loan first, and then get the title without the lenders name before trying to sell it.
Depending on the state this might not be possible. Loans are considered contracts, and various states regulate how minors may enter into them. For example, in the state of Oregon, a minor may NOT enter into a contract without their parent being on the contract as well. So you are forced to wait until you turn 18. At that time you won't have a credit history, and to lenders that often is worse than having bad credit. I can't help with the car (other than to recommend you buy a junker for $500-$1,000 and just live with it for now), but you could certainly get a secured credit card or line of credit from your local bank. The way they are arranged is, you make a deposit of an amount of your choosing (generally at least $200 for credit cards, and $1,000 for lines of credit), and receive a revolving line with a limit of that same amount. As you use and pay on this loan, it will be reported in your credit history. If you start that now, by the time you turn 18 you will have much better options for purchasing vehicles.
"I'm sorry to hear you've made a mistake. Having read the contract of sale we signed, I do not see any remedy to your current situation. However, I'm interested in making sure I do not take advantage of you. As such, I'll return the vehicle, you can return my money plus the bank fees I paid for the cashiers check, tax, title, and registration, and I will look at buying a vehicle from another dealership. This seems to be the most fair resolution. If I were to pay for your mistake at a price I did not agree to, it would not be fair to me. If you were to allow this vehicle to go to me at the price we agreed to, it wouldn't be fair to you. If I were to return the car and begin negotiations again, or find a different car in your lot, it would be difficult for us to know that you were not going to make a similar mistake again. At this point I consider the sale final, but if you'd prefer to have the vehicle back as-is, returning to us the money we gave you as well as the additional costs incurred by the sale, then we will do so in order to set things right. Chances are good you will see them back down. Perhaps they will just cut the additional payment in half, and say, ""Well, it's our mistake, so we will eat half the cost,"" or similar, but this is merely another way to get you to pay more money. Stand firm. ""I appreciate the thought, but I cannot accept that offer. When will you have payment ready so we can return the car?"" If you are firm that the only two solutions is to keep the car, or return it for a full refund plus associated costs, I'd guess they'd rather you keep the car - trust me, they still made a profit - but if they decide to have it returned, do so and make sure they pay you in full plus other costs. Bring all your receipts, etc and don't hand over the keys until you have the check in hand. Then go, gladly, to another dealership that doesn't abuse its customers so badly.
I think you are a little confused. If you have 10.000€ in cash for a car, but you decide instead to invest that money and take out a loan for the car at 2,75% interest, you would have to withdraw/sell 178€ each month from your investment to make your loan payment. If you made exactly 2,75% on your investment, you would be left with 0€ in your investment when the loan was paid off.  If your investment did better than 2,75%, you would come out ahead, and if your investment did worse than 2,75%, you would have lost money on your decision. Having said all that, I don't recommend borrowing money to buy a car, especially if you have that amount of cash set aside for the car.  Here are some of the reasons: Sometimes people feel better about spending large amounts of money if they can pay it off over time, rather than spending it all at once.  They tell themselves that they will come out ahead with their investments, or they will be earning more later, or some other story to make themselves feel better about overspending.  If getting the loan is allowing you to spend more money on a car than you would spend if you were paying cash, then you will not come out ahead by investing; you would be better off to spend a smaller amount of money now. I don't know where you are in the world, but where I come from, you cannot get a guaranteed investment that pays 2,75%.  So there will be risk involved; if the next year is a bad one for your investment, then your investment losses combined with your withdrawals for your car payments could empty your investment before the car is paid off.  Conversely, by skipping the 2,75% loan and paying cash for your car, you have essentially made a guaranteed 2,75% on this money, comparatively speaking. I don't know what the going rate is for car loans where you are, but often car dealers will give you a low loan rate in exchange for a higher sales price.  As a result, you might think that you can easily invest and beat the loan rate, but it is a false comparison because you overpaid for the car.
"Unfortunately, it's not unusual enough.  If you're looking for a popular car and the dealer wants to make sure they aren't holding onto inventory without a guarantee for sale, then it's a not completely unreasonable request.  You'll want to make sure that the deposit is on credit card, not cash or check, so you can dispute if an issue arises.   Really though, most dealers don't do this, requiring a deposit, pre sale is usually one of those hardball negotiating tactics where the dealer wrangles you into a deal, even if they don't have a good deal to make.  Dealers may tell you that you can't get your deposit back, even if they don't have the car you agreed on or the deal they agreed to.  You do have a right for your deposit back if you haven't completed the transaction, but it can be difficult if they don't want to give you your money back.  The dealer doesn't ever ""not know if they have that specific vehicle in stock"".  The dealer keeps comprehensive searchable records for every vehicle, it's good for sales and it's required for tax records.  Even when they didn't use computers for all this, the entire inventory is a log book or phone call away. In my opinion, I would never exchange anything with the dealer without a car actually attached to the deal.  I'd put down a deposit on a car transfer if I were handed a VIN and verified that it had all the exact options that we agreed upon, and even then I'd be very cautious about the condition."
"In general, insurance payouts you receive in compensation for damage to your vehicle are not taxable income (see for instance this Nolo page). However, I don't see how that is related to your three bullet points about how your sister should buy her car.  You can transfer the money to her in any way that's convenient to both of you.  Whether the dealership will accept cash is something you'll have to ask them about, but my impression is most dealers are eager to accept cash. As long as the car you are getting from her is not worth substantially more than the $8500 you're giving her, I don't see that you'll be in trouble income-tax-wise.  As mentioned in the question you linked to, you can give each other up to $14k per year tax-free.  So if you give her a $8500 and she gives you a car worth roughly the same amount, no problem.  If you actually do it as a sale, even better, since then the only amount that will count as a gift to either of you is whatever one party gets above and beyond the fair value of the car.  (That is, if the car is worth $10000 but she sells it to you for $8500, she effectively gave you a gift of $1500 in car value.  If it's worth $7000 but she sells it to you for $8500, you gave her a gift of $1500 in cash.) As Rocky pointed out in a comment, if you do a sale it may be subject to sales tax depending on what state you're in.  In practice it is very common for people to not deal with sales tax in informal transactions like this between family members, but you do owe it if your state's laws require it, and the state could theoretically come after you for it. Another edit: I see from your comment you are in Michigan.  According to this page from the Michigan Secretary of State, ""no tax is due if you purchase a vehicle from an immediate family member"".  So you would not owe sales tax if you do it as a sale."
Without access to the ATM/debit card and with almost nothing in savings, you will probably have to visit a branch to make a cash deposit. If it is too far to drive you might be able to turn the cash into a money order and mail it to the bank, but I would check with the bank to see if that would work. Of course mail will take a day or two.
"The question is about the dealer, right?  The dealer isn't providing this financing to you, Alfa is, and they're paying the dealer that same ""On the Road"" price when you finance the purchase.  So the dealer gets the same amount either way. The financing, through Alfa, means your payments go to Alfa.  And they're willing to give you 3,000 towards purchase of the car at the dealer in order to motivate those who can afford payments but not full cash for the car.  They end up selling more cars this way, keeping the factories busy and employees and stockholders happy along the way.  At least, that's how it's supposed to work out."
"I guess I don't understand how you figure that taking out a car loan for $20k will result in adding $20k in equity.  A car loan is a liability, not an asset like your $100k in cash.  Besides, you don't get a dollar-for-dollar consideration when figuring a car's value against the loan it is encumbered by.  In other words, the car is only worth what someone's willing to pay for it, not what your loan amount on it is. Remember that taking on a loan will increase your debt-to-income ratio, which is always a factor when trying to obtain a mortgage.  At the same time, taking on new debt just prior to shopping for a mortgage could make it more difficult to find a lender.  Every time a credit report (hard inquiry) is run on you, it temporarily impacts your credit score.  The only exception to this rule is when it comes to mortgages.  In the U.S., the way it works is that once you start shopping for a mortgage with lenders, for the next 30 days, additional inquiries into your credit report for purposes of mortgage funding do not count against your credit score, so it's a ""freebie"" in a way.  You can't use this to shop for any other kind of credit, but the purpose is to allow you a chance to shop for the best mortgage rate you can get without adversely impacting your credit. In the end, my advice is to stop looking at how much house you can buy, and instead focus on a house with payments you can live with and afford.  Trying to buy the most house based on what someone's willing to lend you leaves no room in the near-term for being able to borrow if the property has some repair needs, you want to furnish/upgrade it, or for any other unanticipated need which may arise that requires credit.  Don't paint yourself into a corner.  Just because you can borrow big doesn't mean you should borrow big. I hope this helps. Good luck!"
Great question, but I'm thinking you'll want to get a professional who can look at your specific situation and do it right.  I wouldn't go solely on advice here.  Having said that, though, my decidedly non-professional advice: The other alternative is to take a bit of a profit hit, and demand that the seller pay cash.  Then the transaction becomes much easier and quicker. But again, I urge you to have a pro look at this!
Credit cards always charge for withdrawing cash, because if they didn't then you could have an indefinite loan and pay no interest simply by withdrawing enough cash each month to pay off the previous month's bill before the due date. It's nothing to do with using an ATM -- they'll charge you for getting a cash advance over the counter as well.