I know I'm off-topic but I pay $400 a month, for 60 months @ 5.5%.

Got a used 04 with 23k miles for $23k. About 2k down.

 

my payment is 500$ with 12029.13 ( I think) down payment lol for 60 month with 5.9% APR

 

Damn, I can't believe people would want to have a car payment that high every month.

My Evo payment was $398 a month with a crappy interest rate.

 

MSRP: $33,929
Purchase Price: $31,600
Positive Equity from WRX: $710
Down-Payment: $6,000
Payment: $399/72 mo

Oh wait, this is on my STi .

You EVO guys have some damn high payments!

 

Werd. I'd never pay that much - it's why I get one slightly used and save 10-15k.

 

Why? You are at 0%. I am at 0%, but I put down 11k and I pay $356/mon. I should have put down less and upped the monthly to $450.

You have no reason to pay more than the monthly when you have ZERO % financing.

 

Let's say that someone puts $15K down on their new Evo IX MR and finances the rest at a decent rate (5.5-6%) for 60 months. They'd have a payment, then, of about $400/month. It's rather silly to then disparage someone who bought the same car at the same price at the same rate (with a payment of about $695/month with nothing down) by saying "Gosh. I would never have a payment that high." Well maybe not, but the person who put $15K down is out $15K while the other person is out nothing up front. Yes, there's the fact that putting more down will decrease the interest paid over the life of the loan (in this case about $2600) but that $15K could be invested, saved, or whatever. Some people chose not to part with a lot of cash just to have a low car payment. It does not mean that they got screwed.

 

Mathgeek is weak with teh math.

How much interest over 60 months is saved by that 15k down?

 

How am I weak with the math? $400 x 60 = $24,000 + $15,000 = $39,000 paid for the car. $695 x 60 = 41,700. So about $2,700 is saved by putting $15K down. $15K, if invested wisely, could yield more than $2,700. I think that you forgot to add the $15K onto the total of the 60 payments at $400/mo.

 

You payments can go down if you refinance your loan.

 

Yah, I have to pay $0 every month. It's really killing me.

 

Obviously.

 

+1. $0 a month is having me considering selling a kidney.

 

me i put 25, 000 down paid 34,650 paying 480 x 72 nice!!

 

Yeah, that makes zero sense- try again.