Monthly Payment

[Salgonzalez]

Hello everyone new member here. I Know this is kind of a personal question. But I'm really wanting a '12 but doing the math. I'm looking at an almost 800$ payment. Does that sound right?

 

[Maxx2893]

Sounds right to me. I pay 700 and i have a 2010 that was 10 grand less than the newer ones

 

[pat'sRAPTOR]

holy shit man i pay almost half that for my 2010 loaded. i pay 463 a month, my total came out to just under 49,000 but i did put 12,000 down on it and i have pretty amazing credit so my interest rate was WAY low

 

[Smokinjo]

Personally I paid Cash for my 2011. However, it just kills me when I see one of these threads on Payment. It's very simple-- good credit = lower interest rate which =lower payment. And the more down payment you make drops
the payment even lower. A simple financial calculator can tell you exactly what your payment will be with the above mentioned variables.

 

[SPRSNK]

I pay cash for everything. Car payments suck.

 

[RaptorScrew]

I pay cash for everything. Car payments suck.

One day I hope to be there!!! Good for you. (Do you need a stepson, StepDaughter and 2 great grandkids?)

...Don't let the fact that we're the same age deter you from making a rational ( or irrational ) decision...

 

[Maxx2893]

Credit will make a huge difference. I put down 10 grand and i have good credit, good enough to get the loan, but being only 18 I don't have alot of credit. I have a score of low 700's but that's only from a credit card for 2 years. So I didn't get a very low interest rate for that reason.

 

[Raptoyd11]

Credit will make a huge difference. I put down 10 grand and i have good credit, good enough to get the loan, but being only 18 I don't have alot of credit. I have a score of low 700's but that's only from a credit card for 2 years. So I didn't get a very low interest rate for that reason.

Unfortunately lenders do take advantage of young people because they can. It is almost assumed that your parents will pick up the slack should any kind of financial distress occur. The more you put down coupled with a higher credit score the more likely you are to get a decent rate. I have very high credit rating and put 15k down and was able to get a 2.9 rate for up to 72 which even then is about a 550.00 payment so 800 sounds about right.

 

[whtrapta]

Credit will make a huge difference. I put down 10 grand and i have good credit, good enough to get the loan, but being only 18 I don't have alot of credit. I have a score of low 700's but that's only from a credit card for 2 years. So I didn't get a very low interest rate for that reason.

Wow, you bought your own truck!? what do you do?

 

[Salgonzalez]

I always forget about the 72months. Last time I bought a car was 2002 and I don't remember there being an option for that long. So everyone is avg. About 10k down. That is what i was thinking about putting down.

Another question. When you had the car built. Did you have to put the whole thing down then wait the 3-4 months for the car. Or all the financing had to be done before they made the car? I've never had a car built before either.