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Old 06-13-2006, 10:53 PM   #1  
SN95Stang
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Default 03 Cobra Monthly Payments

How much do you guys pay for you 03 Cobras a month? im thinking about financing a used 2003 Cobra with $5000 down how much do you think my payments will b? fOR SAY A 36 MONTH OR A 48 MONTH PAYMENT PLAN?
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Old 06-13-2006, 10:58 PM   #2  
03SilverGT
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Default RE: 03 Cobra Monthly Payments

Well how much is the car and how good is your credit. I didnt put anything down on mine and financed a little over 25,000 and my payments are 445 a month, i have excellent credit though. If you do it for 36 or 48 months i think your payments will be 550-600 a month if not more. Give us more info like car price and what kinda credit you have if you want a more accurate guess.
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Old 06-14-2006, 12:02 AM   #3  
SN95Stang
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Default RE: 03 Cobra Monthly Payments

ill hav my dads credit cuz he will sign for me, so the credit will b excellent. If i put down enough cash so that my loan is only 20,000 what do u think the payments will be? How many months did u finance yours for? How many months should i finance for?
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Old 06-14-2006, 12:40 AM   #4  
03SilverGT
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Default RE: 03 Cobra Monthly Payments

If you only finance 20,000 with say 5% intrest the total of your payments would be around 25000 for 5 years making your payment around 416 a month. 500 a month for a 4 year loan 638 for 3 years. This is just a guess because i dont know what itrest rate you will get. I did mine for 6 years and 7% intrest and its 445 a month this was 2 years ago and i didnt have a cosigner and i was only 22 at the time, I dont think 7% is a bad rate but your dad might dissagree also my beacon score or credit score was 752 at the time, thats a real good score. Your dads becon score will decide the intrest rate you get. Hope this was helpfull and let me know if you get it and how much your payments are. Also get some pics. also the length of the loan will affect your payments, the shorter the loan the more the payments but you will have it payed off sooner, the longer the loan the less your payments will be but you wont have it payed off as soon. its always better to do the shortest loan term possible if you can afford to because you wont pay as much intrest.
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Old 06-14-2006, 12:49 AM   #5  
SN95Stang
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Default RE: 03 Cobra Monthly Payments

thx bro. ill let u kno if i decide to get one or not. For now i hav my 95 Gt to play with but i wanna get the 03 by august
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Old 06-14-2006, 12:41 PM   #6  
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Default RE: 03 Cobra Monthly Payments

Go to Yahoo. Search car payment calculator. You can choose from several web sites that will calculate exactly what your payments will be. All you need is the amount to be finianced, interest rate, and number of months. Currently on an 03 model car with good credit the interest rates are between 6 and 9 %. I know. Am about to buy an 03 Cobra myself.
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Old 06-14-2006, 01:51 PM   #7  
Mt Twigbert
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Default RE: 03 Cobra Monthly Payments


Quote:
ORIGINAL: brwafl

Go to Yahoo. Search car payment calculator. You can choose from several web sites that will calculate exactly what your payments will be. All you need is the amount to be finianced, interest rate, and number of months. Currently on an 03 model car with good credit the interest rates are between 6 and 9 %. I know. Am about to buy an 03 Cobra myself.
+1

There are programs out there that will tell you exactly.. If the loan is in your name and your dad is co-signing then the intrest rate will still be high if you have little to no credit.. If he puts it in his name and you make the payment then it will be much lower..
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