af11791

Whats up people,
I went to look at an ISF a couple days ago in Jersey. Im sure you guys remember. Today the dealer gave me a call and let me know how the math is going to work out. The car runs perfect no problems. I test drove it and it was amazing. The monthly payment is coming out to be 689/Month with my ****ty car as down which they are buying for 4500.00. My question too you guys is what would you do if you were in my situation. I can afford it but its a lot if you think about it.
Any advice would help
Thanks

LBmtb

I wish my payment was $689/month. Is that for a new ISF?

af11791

No its a used 2008 with 59000 miles. I really want the car but then i dont wanna end up getting ****ed over in the future. I know its a stupid *** question but im like going crazy thinking about it lol

Murph145

give me some more info how much are they wanting for the car how many years is the payment for and whats your interest rate.... wihtout this info how can we help?? if its 689 a month for 1 year awesome deal if its 689 for 7 years *****ty deal so help us help you decide

LBmtb

Without knowing more info I would probably say wait since the next gen is just around the corner. That may give you some negotiating leverage on the current gen ISF.

cremaster

iTrader: (1)

you know your own financial situation better than any of us. personally, i wouldn't be dropping nearly $700 a month for a car w/ 60k miles on it. if you can't afford to put more as a down payment, i'd wait till you can.

OneSiCkF

iTrader: (9)

Sounds like your not getting too bad of a deal but it's also not a fantastic one. OTD including your DP is ~$45,840 based on the info provided, TTL&interest included.When you subtract all the interest and tax fees it appears as though the price of the car might be around 37-39K. I would hold off and look for an F with lower mileage. GL

UCrazyKid

So many other variables that we don't know. What % of your income is that payment? Personally I feel if you cannot pay cash for a car you really cannot afford it.

When I was 20 I was driving a 15 year old car and spending all my money on College. Make sure your priorities are in the right place.

Murph145

^ most people dont have that kinda cash to drop on a car including myself... doesnt mean we cant afford it just means we pay over time lol

OneSiCkF

iTrader: (9)

I def would have to agree with you but what UCrazyKid is probably trying to say something to the effect of don't put your eggs all in one basket. Basically saying if you can barely afford this car it's probably not a good idea to purchase it. Cars are not good investments

ISF4life

iTrader: (30)

59k miles is too much , here in socal there are few F selling with under 35k miles... u might want to check it out.

Murph145

lol very true i have never made $ on buying and selling cars haha i always take it in the shorts i agree do not buy something if you can not afford it easily.... no need to stress every month on making the payments

melbitoast

iTrader: (1)

I'm about to refi mine from 5.79% down to 2.49%, so my pmt is going to drop from $718 to roughly $682 with no change in remaining term, so $689 does not sound bad depending on your term length.

Mitch08ISF

iTrader: (8)

Mine is 586 with 4.2% I put around 7,000 down and car was 40+ttl I pay around 650-700 per month so sounds right to me.

caymandive

iTrader: (2)

To the OP. I've been in your situation before and from past experience if you have to think so hard about it then that's a sign you should hold off until you have no hesitation.