highest monthly payments
Evolving Member
Joined: Nov 2006
Posts: 132
Likes: 0
From: Palo Alto
I pay for my own clothes and yes I paid for my laptop. Honestly, what kind of parent makes their kid pay for rent and food? Well the thing is, im helping my dad with his workload in order for him to help me with the shipping business we are starting (Shipping overseas). I do all of the computer work, graphic design and things like that. I forgot to mention, I airbrush shoes sometimes for money =]. So i kind of have a job, my own small business. I dont need to worry about college because I can get a scholarship somewhere. Not trying to sound, idk, stuck up or anything but I have over a 4.2 GPA and i take 3 AP classes as a sophmore. My future is financially sounds with the business I am starting with my dad and other things. I pay for gas but insurance wil be partially voered by me. My parents pay what my sisters A4 is (who has gotten in 3 crashes at the ripe age of 18) and I pay the difference. It will be on my mind when im driving because if something happens, I pay the price. As far as tuning and body work if any, my uncle owns a shop in michigan. All other little things will be split in cost by me and my parents. They could buy me the car and pay for everything as my Bday, Xmas and reward for performance in shcool but they said I have to pay for some of it to somewhat learn responsibility.
Again, you sound like a great, responsible person and I'm not trying to take any of that away. I could care less if your parents handed you the cash and said buy whatever you want with it. I'm just trying to show where older people are coming from. It's awesome that you're in business with your father, but where would you be if he didn't own his own business? Didn't want you in with him? That's the point. You're getting helped by your parents, (and I emphasize again that this is fine, great, even) but when people see that, they say "Wait, the 16 year old didn't actually buy it for himself" and that's why people usually call BS when teenagers proclaimed they bought something themselves.
Newbie
Joined: Dec 2006
Posts: 79
Likes: 0
From: Columbus, Ohio
It's not that you should have to pay rent and food, it's just what a lot of people are thinking when they see a 16 year old claim that he or she paid for an Evo on his or her own.
Again, you sound like a great, responsible person and I'm not trying to take any of that away. I could care less if your parents handed you the cash and said buy whatever you want with it. I'm just trying to show where older people are coming from. It's awesome that you're in business with your father, but where would you be if he didn't own his own business? Didn't want you in with him? That's the point. You're getting helped by your parents, (and I emphasize again that this is fine, great, even) but when people see that, they say "Wait, the 16 year old didn't actually buy it for himself" and that's why people usually call BS when teenagers proclaimed they bought something themselves.
Again, you sound like a great, responsible person and I'm not trying to take any of that away. I could care less if your parents handed you the cash and said buy whatever you want with it. I'm just trying to show where older people are coming from. It's awesome that you're in business with your father, but where would you be if he didn't own his own business? Didn't want you in with him? That's the point. You're getting helped by your parents, (and I emphasize again that this is fine, great, even) but when people see that, they say "Wait, the 16 year old didn't actually buy it for himself" and that's why people usually call BS when teenagers proclaimed they bought something themselves.
. But yeah hes starting the business for me so he has something to leave me.
Newbie
Joined: Aug 2006
Posts: 44
Likes: 0
From: South Jersey
$475 @ 7.9% for 75 months w/ almost 4k down. Yeah I know, 75 months is weird but that's what they offered. I feel like I should have gotten a better A.P.R. I have very good credit and this was a brand new car. I'm still like W.T.F.?!?! I probably should have tried to find my own financing. F**k me! 
Newbie
Joined: Dec 2006
Posts: 79
Likes: 0
From: Columbus, Ohio
$475 @ 7.9% for 75 months w/ almost 4k down. Yeah I know, 75 months is weird but that's what they offered. I feel like I should have gotten a better A.P.R. I have very good credit and this was a brand new car. I'm still like W.T.F.?!?! I probably should have tried to find my own financing. F**k me!
Evolving Member
Joined: Nov 2006
Posts: 132
Likes: 0
From: Palo Alto
75 months is a pretty long term, which is why the interest rate is so high. Prime is pretty high right now, so it's hard to get low. Depending on your credit, you probably could have gotten down to around 7%
Newbie
Joined: Nov 2006
Posts: 89
Likes: 0
From: Florida
not really, on a 72 month car loan 6.9% is the current rate. Alot of the 0% and really low stuff happens by factory incentives from the car finance companys, and you usually have a much shorter term with a much higher payment. on a bank loan for so long on a car its hard to do much better right now.
don't feel bad EVOIX_thousand. You drive freakin EVO!
Newbie
Joined: Dec 2006
Posts: 79
Likes: 0
From: Columbus, Ohio
not really, on a 72 month car loan 6.9% is the current rate. Alot of the 0% and really low stuff happens by factory incentives from the car finance companys, and you usually have a much shorter term with a much higher payment. on a bank loan for so long on a car its hard to do much better right now.
don't feel bad EVOIX_thousand. You drive freakin EVO!
don't feel bad EVOIX_thousand. You drive freakin EVO!
Evolving Member
Joined: Nov 2006
Posts: 154
Likes: 0
From: LA
I bought a Silver Evo IX back in October for $31,872.55 out of the door. Did I pay too much? I don't know.
Down payment: 8000 (not sure if I made the right decision putting so much down)
Net trade-in: 1665.34
Total downpayment: 9665.34
Amount being financed: 22207.21
Financing -- 9.490% interest, 5 years, 480.88 monthly payment.
I ran my credit score the night before the purchase and it was 590 but the next morning when the dealership ran my credit it was 660 (my old credit score) and they gave me 9.49% I dont know why I think that wsa kinda high for my 660 credit but I took it coz I called two other places before and they were offering me no less than 10% interest so the mitsu dealership got my bizz.
I noticed that after I made my first payment of 480.88 only 332.01 went to the principal and 148.87 interest
so I guess they gonna make at least 450 before I refinance my loan because I will credit by then should be 700 at least, I know coz my credit score's been increasing every month.
Down payment: 8000 (not sure if I made the right decision putting so much down)
Net trade-in: 1665.34
Total downpayment: 9665.34
Amount being financed: 22207.21
Financing -- 9.490% interest, 5 years, 480.88 monthly payment.
I ran my credit score the night before the purchase and it was 590 but the next morning when the dealership ran my credit it was 660 (my old credit score) and they gave me 9.49% I dont know why I think that wsa kinda high for my 660 credit but I took it coz I called two other places before and they were offering me no less than 10% interest so the mitsu dealership got my bizz.
I noticed that after I made my first payment of 480.88 only 332.01 went to the principal and 148.87 interest
so I guess they gonna make at least 450 before I refinance my loan because I will credit by then should be 700 at least, I know coz my credit score's been increasing every month.
Last edited by tYPE-r; Dec 14, 2006 at 01:14 AM.
