{ "media_type": "text", "post_content": "I’m looking to buy a used Audi Q3 (in about a year when the used car market cools down.) for around $32K. I will be getting my banked bonus at the same time for let’s say $18K (after tax). Audi offers 1.99% APR for used cars. How much should I put down on the car from my banked bonus, considering the APR is so low? - (first time buying a car)", "post_id": "619b9da1aa5871002f122f59", "reply_count": 12, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

I’m looking to buy a used Audi Q3 (in about a year when the used car market cools down.) for around $32K. I will be getting my banked bonus at the same time for let’s say $18K (after tax). Audi offers 1.99% APR for used cars. How much should I put down on the car from my banked bonus, considering the APR is so low? - (first time buying a car)

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I would put the minimum you can put down while keeping that APR That’s free money (10Y bond is 1.5% now)

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I did the exact same thing you did but with a used A4. I used maybe 15-20% of my bonus for the down payment which was somewhere between 15-20% of the purchase price.

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Yeah that’s so low I’d put down a small amount. 3-5k? Your money is better off working elsewhere

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Exact same setup on BMW X3 about a year ago before car market blew up. I put 7k down and bought the warranties. This was to keep my car payment the same as my old one.

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At that interest rate the difference is probably pennies a month

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I bought a used Volvo XC60 3 months ago for 1.49% at DCU; my trade in was valued at 14k, I put 0 down on my car and invested it all. I made some great buys like TTD, NVDIA, QQQ that have boomed significantly making it totally worth it.

Thanks everyone for the advice! I was thinking the same general idea (around $4K down). Also is there any pros/ cons to doing a 60 month vs 72 month finance? It seems like a pretty small difference between payments. But was curious since I haven’t bought one before. Also, dumb question - is the 1.99% on the total loan or remaining balance calculated each month?

If they’ll keep it at 1.99% for 72 months then go for 72months Remaining balance calculated monthly

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Buy something better

Used Macan if you can swing it. Lower end Audis are kinda cheap (plastic interior) and just aren’t fun to drive

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