View Poll Results: how is monthly payment?
$0-$50
13
4.98%
$51-$100
0
0%
$101-$150
0
0%
$151-$200
1
0.38%
$201-$250
2
0.77%
$251-$300
10
3.83%
$301-$350
18
6.90%
$351-$400
27
10.34%
$401-$450
32
12.26%
$451-$500
49
18.77%
$501+
109
41.76%
Voters: 261. You may not vote on this poll
Who is leasing their EVO?
Originally posted by MSP-EVO
im in ma Insurance for me is 6k the insurance is mopre than on my S4 and the insurance is more than the car payment
Car= 545
insurance=760
im in ma Insurance for me is 6k the insurance is mopre than on my S4 and the insurance is more than the car payment
Car= 545
insurance=760
If that is a month daaaamn. BTW location makes a HUGE difference, at least in my age range. Here in Flagstaff (50k) population, it would be 140 a month and in Phoenix it would be 230ish a month
marked up?
Originally posted by GotBoost25psi
myn is $625 at 6.9% for 72 months!!! it hurts insurance is under my dad and is lil over $150 a month
myn is $625 at 6.9% for 72 months!!! it hurts insurance is under my dad and is lil over $150 a month
625 x 72 = $45,000
holy **** man.... was that cause of a markup????
maybe i should have waited for a few repossessed evo's.. some of you guys pay way way too much...
Originally posted by SXYGRLRACER
well i pay 500 a month 0$ down and insurance is $88 a month, its all well worth it!
well i pay 500 a month 0$ down and insurance is $88 a month, its all well worth it!
I think it would be worth having a vagina if I could get insurance that cheap....
And who says girls don't always get what they want??
Josh
In Timeout
Joined: Oct 2003
Posts: 427
Likes: 0
From: Kennesaw Ga
wow, so the extra $50 is for a dinner 1 time a month? I don't know and really don't car about any one else and what they spend I used to spend about 25% of my income on cars now I spend less then 40% on everything AFTER tax. It helps with the stress, I would say keep it less then 10% of your gross would be a good idea. so if gross is 6,000 a month then 600. You will always be safe.
Originally posted by 97ESi
i'm not sure of all banks, but the way our banks do it is like this:
take your gmi (we'll use 2k as a hypothetical).
2000 gmi
you then lose 40% for col (cost of living - gas, food, clothes, etc)
40% of 2k = 800
that leaves you with 1200.
then you lose a rough guesstimate of your tax bracket. for someone making 2k, that would amount to about 25% (fed, state, soc).
25% of 1200 = 300 (leaving you with 900)
of the 900, they now deduct a standard 100 for insurance (no matter whether you pay more or less).
that leaves 800. what about rent? if you share a place, then let's say your share is 300. that leaves 500.
$500 seems like it might be enough, right? now the banks check your credit - how much do you owe, etc. they deduct all that from the $500. let's say you owe about 150 to all your credit cards per month.
that leaves you with 350. if the car you're trying to buy costs 300, you're cool. if it comes close to 350, then they may think you're stretching yourself (and they'll show this in the form of an interest rate).
you can plug in your own gmi to see how it may work out for you.
anything under 12% is generally good. first time buyers typically see somewhere in the 10%+ range, based on credit.
once again:
gmi
- 40% col
- tax (use paystub to figure yours out)
- $100 ins
- rent/mortgage (your legal share)
- minimum monthly debt obligations
voila. there you go for your maxpay.
questions, comments? reach me online.
i'm not sure of all banks, but the way our banks do it is like this:
take your gmi (we'll use 2k as a hypothetical).
2000 gmi
you then lose 40% for col (cost of living - gas, food, clothes, etc)
40% of 2k = 800
that leaves you with 1200.
then you lose a rough guesstimate of your tax bracket. for someone making 2k, that would amount to about 25% (fed, state, soc).
25% of 1200 = 300 (leaving you with 900)
of the 900, they now deduct a standard 100 for insurance (no matter whether you pay more or less).
that leaves 800. what about rent? if you share a place, then let's say your share is 300. that leaves 500.
$500 seems like it might be enough, right? now the banks check your credit - how much do you owe, etc. they deduct all that from the $500. let's say you owe about 150 to all your credit cards per month.
that leaves you with 350. if the car you're trying to buy costs 300, you're cool. if it comes close to 350, then they may think you're stretching yourself (and they'll show this in the form of an interest rate).
you can plug in your own gmi to see how it may work out for you.
anything under 12% is generally good. first time buyers typically see somewhere in the 10%+ range, based on credit.
once again:
gmi
- 40% col
- tax (use paystub to figure yours out)
- $100 ins
- rent/mortgage (your legal share)
- minimum monthly debt obligations
voila. there you go for your maxpay.
questions, comments? reach me online.
Evolving Member
Joined: Oct 2003
Posts: 226
Likes: 0
From: Norman, OK
$26500 Down
3.8% for 36 months.
The insurance is killing me though. 22, no tickets,damage..etc, USAA, and still $1350 every 6 months in freaking OKLAHOMA... eh...
Oh, and the $1000 for the tag sucked too.
3.8% for 36 months.
The insurance is killing me though. 22, no tickets,damage..etc, USAA, and still $1350 every 6 months in freaking OKLAHOMA... eh...
Oh, and the $1000 for the tag sucked too.
got mine for 31,000
put down 5,000
paid 460 a month (no clue what my intrest was)
insurance : 260 a month
im 24, 1 accident and a ticket
then 2 months later, TOTALED THE CAR :x
now im gonna buy another one for 29,000 (hopfuly)
no clue onthe downpayment,
put down 5,000
paid 460 a month (no clue what my intrest was)
insurance : 260 a month
im 24, 1 accident and a ticket
then 2 months later, TOTALED THE CAR :x
now im gonna buy another one for 29,000 (hopfuly)
no clue onthe downpayment,
Newbie
Joined: Aug 2003
Posts: 25
Likes: 0
From: Denver
Originally posted by zTargeTz
got mine for 31,000
put down 5,000
paid 460 a month (no clue what my intrest was)
insurance : 260 a month
im 24, 1 accident and a ticket
then 2 months later, TOTALED THE CAR :x
now im gonna buy another one for 29,000 (hopfuly)
no clue onthe downpayment,
got mine for 31,000
put down 5,000
paid 460 a month (no clue what my intrest was)
insurance : 260 a month
im 24, 1 accident and a ticket
then 2 months later, TOTALED THE CAR :x
now im gonna buy another one for 29,000 (hopfuly)
no clue onthe downpayment,
if you totaled the car, dont you still have to pay for the old one? im guessing you are basically paying for two lancers then? ...that would suck....
