Whats your monthly Payment?
#17
after 25 months the payment on the 2009 GT500 is 0.00. When I had payments they were in the neighbourhood of 519.00 @ 6.0% over 5 years but the misses went in last week and gave the bank (well actually transferred) 20,000.00 to pay Snakebite64 off. The 2005 GT was paid off exactly 5 months to the day we purchased it (Apr 13th-Sept 13th 2005) I am not sure how guys do it but the thought of a 800.00 payment for 5/6 years would drive me around the bend. I have an aquaintance who has a 06GT vert with that type of payment and he is forever saying he is broke, I guess so.
My personal plan regarding the purchase of a new vehicle (18 new vehicles in 20 years of marriage) is a minimum of 1/3 down and pay the rest off asap. Even when 0.0% is in play I hate payments so it's pay it off quick quick quick. When a vehicle is paid off the only one that can take your car is a thief. The other problem with people putting down the minimum or nothing is you are upside down right off the bat which is twice the hit as the car depreciates the second it leaves the lot.
Anywho happy motoring folks.
My personal plan regarding the purchase of a new vehicle (18 new vehicles in 20 years of marriage) is a minimum of 1/3 down and pay the rest off asap. Even when 0.0% is in play I hate payments so it's pay it off quick quick quick. When a vehicle is paid off the only one that can take your car is a thief. The other problem with people putting down the minimum or nothing is you are upside down right off the bat which is twice the hit as the car depreciates the second it leaves the lot.
Anywho happy motoring folks.
#18
well.. my 07 is 470 /month, and im trying to sell it. If i get enough for it my payments should be in the neighborhood of 420/month on the new 2012. the sad thing is, instead of having it paid off at the end of 2012 i'll be looking at another 5 years.. just seems so far now, but i wouldn't pay it off early.
to you people who say pay cash for it, that is poor financial advise if you can make an investment that is greater than the finance cost of the vehicle, for example, right now there is 1.9% financing available. my average annual return on my stock investments thus far has been 400%..(i'm into tech stocks, AMD @2 sold for $10 and OCZ at $2 im holding till $9, it's at 8 right now, currently looking for another cheap tech stock) it makes a lot more sense for me to invest my money than to spend it on a car. or there are plenty of no/little risk investments that are greater than 1.9%. Even if i could pay off my house right now I wouldn't do it, my interest rate is way too low.
HBOMB44's payments dont really make sense unless he over paid for the car or it's that crazy canadian money(which shouldn't be that far off from the USD right now), or he is incluidng his insurance or some other crazy canadian thing.
to you people who say pay cash for it, that is poor financial advise if you can make an investment that is greater than the finance cost of the vehicle, for example, right now there is 1.9% financing available. my average annual return on my stock investments thus far has been 400%..(i'm into tech stocks, AMD @2 sold for $10 and OCZ at $2 im holding till $9, it's at 8 right now, currently looking for another cheap tech stock) it makes a lot more sense for me to invest my money than to spend it on a car. or there are plenty of no/little risk investments that are greater than 1.9%. Even if i could pay off my house right now I wouldn't do it, my interest rate is way too low.
HBOMB44's payments dont really make sense unless he over paid for the car or it's that crazy canadian money(which shouldn't be that far off from the USD right now), or he is incluidng his insurance or some other crazy canadian thing.
Last edited by Mishri; 02-15-2011 at 05:21 PM.