Future value financing a car?

Dora

New Member
I am looking to buy a car and some car dealerships are offering a financing plan called 'Future Value Financing'. What does that mean? Is it a good thing or marketing ploy? Thanks!
 

Gatsby216

Rookie
LOL. Car dealers are amazing. I have never heard of that. No matter what it is READ the contract. Every word, don't skim it, ask grandma if she thinks it is ok, pray, text your BBF, or listen the sales rep.

Ask them for a copy of the contract that they want you to sign. They may not let you take it with you, which is OK. Just sit in the service waiting area and read it, all by yourself. Take 30 minutes or whatever it takes.

My advice, get a shorter term loan, 60 months max on a new car and 48 months max on a used car. What matter is real simple, the price of the car, the fees, and the interest rate.

Just guessing maybe that loan is a balloon payment? Bad idea.
a>
 

Gatsby216

Rookie
LOL. Car dealers are amazing. I have never heard of that. No matter what it is READ the contract. Every word, don't skim it, ask grandma if she thinks it is ok, pray, text your BBF, or listen the sales rep.

Ask them for a copy of the contract that they want you to sign. They may not let you take it with you, which is OK. Just sit in the service waiting area and read it, all by yourself. Take 30 minutes or whatever it takes.

My advice, get a shorter term loan, 60 months max on a new car and 48 months max on a used car. What matter is real simple, the price of the car, the fees, and the interest rate.

Just guessing maybe that loan is a balloon payment? Bad idea.
a>
 

Gatsby216

Rookie
LOL. Car dealers are amazing. I have never heard of that. No matter what it is READ the contract. Every word, don't skim it, ask grandma if she thinks it is ok, pray, text your BBF, or listen the sales rep.

Ask them for a copy of the contract that they want you to sign. They may not let you take it with you, which is OK. Just sit in the service waiting area and read it, all by yourself. Take 30 minutes or whatever it takes.

My advice, get a shorter term loan, 60 months max on a new car and 48 months max on a used car. What matter is real simple, the price of the car, the fees, and the interest rate.

Just guessing maybe that loan is a balloon payment? Bad idea.
a>
 
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