36 months?

48?

60?

Mine's 84.







(but I make monthly payments like it's a 48 month loan)

 

36 months. 84! Yikers.

 

I thought 60 was stupid- considering I've been making payments for 48 months already and my car is now worth about half waht I owe on it, all I can tell you is to get it paid off as soon as you can.

 

w3rd.

I have 60 payments cause I put nothing down. ;x
I too, am upside down.

 

Wow. People actually get 84 month loans? I mean - damn.

 

my last two cars were both 60-month term. but I sold my first after 1 year and second after 2 years. My first one I lost a little, and I made some with my second. I am on my thrid one now, but since it's an used car, I didn't take out a loan for it.

 

mines 42 months. weird huh

 

it is very simple just think how much you paid for the car at the dealership and then think of how much you will pay for the car when you are done with the 60-84-100 payments. The name if the game is interest. I would always suggest if the only way to afford the car is to finance it for longet than 3-4 years, then you really cannot afford the car and you should try something less expesive.

Now if you can finance with 0% interest do it since you are borrowing money for free.


Nick

 

I'm 19, no co-signer, bought my 01 2.5RS 5spd with 66,000 miles for $11,996, credit history less than 2yrs old and no blemishes/late payments/etc. good FICA score of 700-760. I signed on for a 36mo term with 8.95% intrest at $222.68/mo. and put down $6150. To be honest for me...I could have probably gotten a 05 Mustang GT (what i ORIGINALLY wanted) but I couldn't see myself surviving and going for a 48-60mo term on a $24-28k car and I would never think twice about putting myself in that sorta situation...point is...its your life...and credit scores/history unfortunately dictates where you end up alot

 

This is one reason it MAY be better to buy new. You can get 1.9% financing on a civic or similar $15k car and probably pay less interest. Some mathmatician want to crunch the numbers on this one?

 

63 months at 2.9%. I'll probably be done with payments in ~48 months and I'll only have paid between 1k-2k in interest alone. Not the best, but not too shabby IMO.

 

with that score and down payment you should be able to do better on your rate. Check your local credit union.

 

yea but the thing is iBlueVirus....im 19 and less than 2yrs worth of credit history, only one credit card....the main factor is that i had very little credit expierence...my intrest i think was like 800$ or somewhere around there...which i didnt mind for the car i really wanted let alone hard enough to find in my area lol...also i had a search for different credit lenders and everyone of them sent me a letter back of denial based upon my little credit expierence since im young and a liability, the dealer was the only one i could get picked up on.

 

48 here.

84? Damn lol.

 

84 is rediculous if you only pay the minimum.

There is no early payout pentalty on my loan, so I pay just pay $500/month. Minimum payment is $330. The intention was that if I fell on hard times, it'd be alot easier to come up with $330 than $500.

I was essentially hedging the bet in my favor.