Evo X car payments???
if i am not smart, then how did i buy my 31200msrp evo for 28xxx otd with 1.9 at south cost
where are you at on your evo??smart guy
no its not because if you sell the car a year later, you didnt pay XX amount of interest. OTD means the bottom number on your contract.
mine was around 40k. Thats 35,874$ msrp + 8.625% tax + regi/plates + GAP ins
I put 0$ down.
payment is 706 x 72
total (if i keep it for 6 years and make exact payment amount) is 50,832$
So I paid 50,832$ OTD according to your math? but I didnt even pay that yet so how do you consider that to be OTD?
If I sell the car in 12 months for what I owe, then I paid around 8472$ in payments I'll owe around 35k. Then I paid 43,472$ OTD?
What if I sell it in 16 months? or 6 months? it always changes man. You never know. OTD is the final price of the car on the bottom of the contract
mine was around 40k. Thats 35,874$ msrp + 8.625% tax + regi/plates + GAP ins
I put 0$ down.
payment is 706 x 72
total (if i keep it for 6 years and make exact payment amount) is 50,832$
So I paid 50,832$ OTD according to your math? but I didnt even pay that yet so how do you consider that to be OTD?
If I sell the car in 12 months for what I owe, then I paid around 8472$ in payments I'll owe around 35k. Then I paid 43,472$ OTD?
What if I sell it in 16 months? or 6 months? it always changes man. You never know. OTD is the final price of the car on the bottom of the contract
you are a vendor...you should know this, if I bought rims from you for $2000 on my CC at 12% and i end up paying it off in 5/6 years....did i really buy those rims for $2000?
should i just lie to myself and tell people i got them for $2000 even tho i put in $3100? the real price that i paid for them
Last edited by redteam22003; Apr 16, 2008 at 05:58 PM.
if you keep your car, 50832 is your otd price (do you agree?) but if you sell it then the total spend is your otd price...how ever much money you put into it is WHAT YOU PAID FOR. "thats your new otd price"
you are a vendor...you should know this, if I bought rims from you for $2000 on my CC at 12% and i end up paying it off in 5 years....did i really buy those rims for $2000?
should i just lie to myself and tell people i got them for $2000 even tho i put in $2700? the real price that i paid for them
you are a vendor...you should know this, if I bought rims from you for $2000 on my CC at 12% and i end up paying it off in 5 years....did i really buy those rims for $2000?
should i just lie to myself and tell people i got them for $2000 even tho i put in $2700? the real price that i paid for them
if you keep your car, 50832 is your otd price (do you agree?) but if you sell it then the total spend is your otd price...how ever much money you put into it is WHAT YOU PAID FOR. "thats your new otd price"
you are a vendor...you should know this, if I bought rims from you for $2000 on my CC at 12% and i end up paying it off in 5 years....did i really buy those rims for $2000?
you are a vendor...you should know this, if I bought rims from you for $2000 on my CC at 12% and i end up paying it off in 5 years....did i really buy those rims for $2000?
Out the door refers to the amount paid for the car plus any fees and taxes. It is a simple and straight forward number reflecting how much cost was incurred as of the date of sale. interest is not a part of this calculation. Using your logic you would also need to factor in the net present value of your future payments which includes a whole bunch of estimates regarding inflation interest rates etc to arrive at a truly meaningful number.
Yeah what he said.
Evolved Member
Joined: Oct 2007
Posts: 860
Likes: 1
From: Bay Area
Me too. I wish I could misappropriate words and phrases with the same conviction as redteam, but I'd never be able to keep a straight face. Insisting that the out the door price is something other than the amount it takes to get the car out the door is amusing to me.
I can't believe all of these bad deals that I am seeing. No offense guys, but I know it's not my money... I had been there before on making some horrendous deals on cars, but I have learned along the way.
The dealer over here is demanding MSRP (originally posted at $5000 markup) or "possibly" a little lower. I am in no rush and will not pay any more than 500 to 700 over invoice.
I am happy with my Subie but will jump on the X when the terms are right.
PATIENCE is the key!
The dealer over here is demanding MSRP (originally posted at $5000 markup) or "possibly" a little lower. I am in no rush and will not pay any more than 500 to 700 over invoice.
I am happy with my Subie but will jump on the X when the terms are right.
PATIENCE is the key!
Evolved Member
Joined: Oct 2007
Posts: 860
Likes: 1
From: Bay Area
I can't believe all of these bad deals that I am seeing. No offense guys, but I know it's not my money... I had been there before on making some horrendous deals on cars, but I have learned along the way.
The dealer over here is demanding MSRP (originally posted at $5000 markup) or "possibly" a little lower. I am in no rush and will not pay any more than 500 to 700 over invoice.
I am happy with my Subie but will jump on the X when the terms are right.
PATIENCE is the key!
The dealer over here is demanding MSRP (originally posted at $5000 markup) or "possibly" a little lower. I am in no rush and will not pay any more than 500 to 700 over invoice.
I am happy with my Subie but will jump on the X when the terms are right.
PATIENCE is the key!
Plus, 4%ish interest rates are dirt cheap. I'll probably end up making a net profit on the money I have invested but didn't use to buy the Evo outright.
Wait... would that make my "out the door" price go down?
Exactly
The reason it is called "OUT THE DOOR" is because if u had enough cash right at that moment that would be the price u would pay for the car and take it out the door.
Notice hoe OTD "out the door" sounds nothing like "total price payed for the car over the life of the loan" ... in fact if u wanted to include all the interest payments u should also include maintainence and repairs over the life of the car and gas. Those are all factors in the cost of owning a certain car (a MBZ or BMW is going to cost significantly more in those factors than a hyundai sonata).
Thing is, people like this guy who is arguing that OTD includes interest are the reason why some people believe we never landed on the moon and 9/11 was an inside job. These people will ignore all facts and common knowledge or sense and then get beligerent when u throw the BS flag on their nonsense.
The reason it is called "OUT THE DOOR" is because if u had enough cash right at that moment that would be the price u would pay for the car and take it out the door.
Notice hoe OTD "out the door" sounds nothing like "total price payed for the car over the life of the loan" ... in fact if u wanted to include all the interest payments u should also include maintainence and repairs over the life of the car and gas. Those are all factors in the cost of owning a certain car (a MBZ or BMW is going to cost significantly more in those factors than a hyundai sonata).
Thing is, people like this guy who is arguing that OTD includes interest are the reason why some people believe we never landed on the moon and 9/11 was an inside job. These people will ignore all facts and common knowledge or sense and then get beligerent when u throw the BS flag on their nonsense.