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I feel like I'm missing the secret to buying a car. One anon said I should pump money into dividend stocks until I have enough for the loan. Taking longer length loans if need be.
New CR-V (EX model after taxes and fees)
$38,500
Down payment 20% (rounded up)
$8000
Trade in (total guess for 09 Honda Fit)
$4000
>no not doing less of a down payment because of the trade in
Financed
$26,500
$500 a month (60 months / 5% interest)
$500 a month x 12 months = $6000 in dividends needed
Assuming VZ 6.8% dividend yield.
6000/6.8x100 = $88,236 (rounded) stock needed to generate $500 a month in dividends for the loan (ignores taxes and ignores and capital gains).
Thoughts?
