Comments by "wtfserpico" (@wtfserpico) on "Zac Rios" channel.

  1. The biggest mistake people make when buying new cars is negotiating the monthly payment rather than the purchase price + interest rate. The dealership will extend your loan out all the way to 84 months and beyond to get you the monthly payment you are after, all the while laughing about the 7% or higher interest rate you'll be paying for the life of that loan. Take it from me, figure out your total price budget and interest rate first. Use a payment calculator yourself to see what you can actually afford and THEN go look at cars. If they ask you what your monthly payment goal is tell them you don't have one and refuse to even talk about it until you've already agreed to purchase price + interest rate.
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  2. These are the same people constantly bellyaching that they'll never be able to afford a house. These are the type of people that will tell you not to worry about how much a car costs because you can get lower payments if you just stretch the loan out to 84 months, interest rate be damned. Edit: That "mortgage lender" lady is crazy. The "advice" she gave is absolutely false. She wants people to pay it off in closing because people like her make their real money by selling your loan after closing. It absolutely counts against your DTI. You don't even get to closing until you've already been approved. What a snake.
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