I plan on taking out $11,000 to finance my EVO.

I did some calculations and my monthly payment will be $296.37
for full coverage insurance (multicar discount) and car payment.

How's that for NYC?

 

Well first off how much are you putting down or how much do you expect for a trade in. Those should be factors into how much you plan to finance. Also that insurance seems kind of low, I know I only pay 465 for 6 months and thats good. It depends on how old you are and your driving record, and I thought NYC insurance was higher then most places. I would check into all this before planning on buying a car. But if you have worked everything out then thats good

 

I'm 25 and i pay $150 a month, and thats with a multi car discount, marrage, homeowners ect.... I live in arizona, they rape you here.
Also financed the whole $28k and I pay $440 a month. Hence the reason why I'm selling the car, I really dont think the car is worth the $$$ due to unreliable motors and plenty of tsb's, and to get treated like **** when I take my car in to the dealer.

 

300 a month sounds like way too much.

 

Read it again.

Loan amount = $11,000
Payment of principle, interest AND insurance = $296.37

$300 a month plus fuel and maint. is not bad at all. The flipside is that you could have a Ralliart for insurance only since it's about $12k less than an Evo. Then you could spend the monthly payment portion of the $300 on mods and probably the insurance portion would be lower as well.

In any event, if I could be in an Evo for $300 / mo. car AND insurance I'd probably do it as well.

 

<----
$524.16 /mo payment
$70 /mo full coverage

 

$560/month payment
$300/month insurance
CA SUCKS!!!

 

I got you beat on the insurance. My car insurance is $140 a month, I am also 25 and live in AZ. I've got multi-car, married, homeowners, etc.

I financed more than you though. lol I will never buy a car again during the "we finance anyone" sale. My car payment is about $580 a month. I only put down $1000 when I got the EVO last April.

So what's that ... $720 a month that I pay. lol

I guess it beats what I was paying before when my car loan was through MMC. They were charging me $800 a month, and at that time my insurance was $200 a month. That sucked, thank God for refinancing.

 

That's not California son that's YOU!

You must either be young or have points on your record. I live in San Diego and only paid $550 every 6 months for insurance. I'm 28 yrs old. My car payment with $5000 down was about $428/month. Got a really low interest rate. But I have a good credit rating and no accidents or points. Now $300/ month for everything is a STEAL!!

Personally I'd wait for the MR to come out if it does. That is one wicked Evo.

 

I'm only gonna need to finance $11,000 for 72 months but will pay more $$$ towards the loan. The rest is a cash downpayment. I'm 26 Male, single, live at home, college grad, banker, work full time. Live in NYC, have a Toyota corolla as a daily driver, liability only. Evo full coverage, $1000 ded.

 

Do you get a special rate on 72 mo that makes it as attractive as a shorter term? All the loans I've ever seen go up on interest rate beyond 60 months at most or even over 48 months term on some. How much does it change your insurance if you go $500 ded.? Congrats and good luck on your new Evo. What color are you getting?

 

i think i've seen this thread before,but where,hmmmm........

 

I dont know, its a bit higher. I plan on financing my EVO thru www.capitaloneautofinance.com, the rate is like 4.69 or 4.99 or so for a 72mo term. The only reason I'm taking a longer term is so that I can make my monthy payments smaller, but in the end I will pay off double or even triple whats due monthly. Thats like a security blanket for me, in case I lose my job or some disaster happens, I wont have to come up with a large payment with going with a shorter term.

I dont know how much it changes my insurance. I'm gonna go with the largest ded possible.

Im waiting for them to release pricing on the 04 EVO 8 RS. I'm getting white. I've been going to dealerships with my checkbook in hand, ready to make a deposit but, w/o official pricing I'd rather wait.

 

Let's see... put $10K down on a purchase price of $28K.

Payments are about $351
insurance is $88/month

Not terrible for a new car......

WH
age 41, Washington state.... multicar discount through State Farm

 

I know a couple of people who do the same. They have the same idea. They can afford a $500 pmt but since only $300 is due they are paying it off much faster. If they have a month with extra orthodontist, tuition, prom dress, etc. they can send just the $300 for that month and use the difference on the one time extras. I do the same when we don't have a zero percent loan or paid off car. I thought I read where you are a banker so I thought maybe you get a special employee rate.