Right.

At 4% interest (my loan), getting a 84 month loan and paying it off in 48 months, versus a 48 month-only loan, is a matter of $1-2 dollars more interest per month.

And for me, that flexibility is worth the price of a cup of coffee.

 

48 @ .9% put $10k down so payments aren't bad.

 

$10k down???


THAT'S nutty! If I actually saved that much, the last thing I'd do with it would be disinvesting it in a car. As you can imagine, I'm not a big fan of down payments.

I don't know, maybe you're rich, but for most people it takes a long while to save up 10 grand. To see it disappear (depreciation) in 2 years would be a heartbreak.

 

well if you own a car (which is paid off) and sell it for, say $10k, there you go. $10k downpayment for a new car.

 

36 mnth, 1.9%

 

Mine is 1.9% for 36 month.
Figure it is pinch, but it will be done very soon and interest is much lower than anything else out there.

 

OHH yeah.

I haven't had my first cup of coffee yet today. Sorry.

 

i know what you are saying though. if i had $10k in cold hard cash, it would be hard to just throw it at the dealer. $10k could go a long way with some simple low maintenance investments. if you were really on top of your game, you'd invest the $10k at a higher rate of return than the interest on a $10k loan. in the end, youd have earned more on the investment than paid back on the loan. the problem is looking longterm rather than being happy now.

 

well i believe in putting at least 1\2 down or a little under...ESPECIALLY if ur young and dont have much of a credit history or its maybe a little messed up...but hey thats ur choice in life to not pay the bills lesson learned for most people...pay ur bills on time, and dont buy ur way into debt like a moron :P

 

My 01 V6 accord was paid off and I sold it for $17K, I wanted to keep my payments low but not have an absurd term so I put the big down, 3 more years it will be paid off and I won't have anything to worry about. I could have taken the 10K and gambled with the market, but I already have way too much money wrapped up in the market, so I opted to make the car life a bit easier, with the .9 financing I could hve just left it in the bank and earned interest, but again I was more interested in a lower monthly. If you keep a car long enough to pay it off it just depends whether you want to pay now ot later and I opted for more now.