gsrthomas

iTrader: (1)

Had my car for about 9 months now. Puchased 12/16/06.

My balance is $13,800. I'm starting to HATE having a car payment. I have been car payment FREE for about 4-5 years before purchasing my IS. And I LOVED it. Don't get me wrong I can afford making the payments. I just wonder I can be saving that $330 a month for something else.

Probably in a year or two I will sell my IS and add that to my down payment for a house.

Sometimes I just want to sell my IS and pocket the $16,000 or so and drive around a cheap car and just save money. Who is with me.

Shoyuu

I'm with you. Haven't had a car payment in 5 years. With my order, that will drastically change. My insurance payment will slightly go up also.

is4fsr

prioritize. i'm not saying you should not drive a car you enjoy the most. but what's more improtant to you? Nice car or house? i'm pretty sure you can drive a nice car at a decent lower price. the thing is with lexus you get some nice features that we don't really need.ie, 6 disc cd, ventilated seats. AFS, etc. just my 2 cents.
Hopefully you can keep the car and afford a house since home prices are dropping.

Drunkebuda

Hummm zero car payments the way i do it is pay off the car outright and then put about 200 in a cd account soo i can buy another car in about 4 years :P

t.is350.h

iTrader: (3)

I'm not.......because I paid it off already, and I'm not going to sell my car...I love my is...

sportsfan8

I hear ya on the car payments. Lexus better live up to their reputation, because I plan on driving their cars until the wheels fall off.

TorontoIS

Paid cash for my IS350, so no car payments at all now.

RXISF

I plan on paying mine off in December or January '08 and want to keep it for 6-8 years. Looking forward to not having to pay a car payment.

DiauR1

iTrader: (3)

With the real estate falling in most areas i'd say put that money towards a house and make your mortgage payments like i did! =)

gsrthomas

iTrader: (1)

Yeah I plan too. Prices in OC are still quite high.

Flipsonic

Ditto...real estate appreciates (especially when you enhance it) and cars depreciate (no matter how much you mod it). I know someone who took out equity from his house to buy a car. How dumb is that? You take out money from something that appreciates and put in on something that depreciates. I wish more people would read Money or Fortune magazine.

Joeb427

iTrader: (1)

Why is that dumb?
Cheaper interest rate with an Equity loan and you get a tax writeoff.
A 8-9 point car loan is smarter?
Toyota is at I believe 7.99 on their loans.

kickin8

iTrader: (1)

I hear you.....car payments ain't funny.....

let me know when you wanna sell your car

hahahaha......

Shoafb

I did it. I am about to fix the loan for around 7% and the interest is tax deductable.

Nothing wrong with it as long as you know you can get out from under it if you had to, no need to risk your house.

your house doesn't stop appreciating just cause you take out an equity loan?

PaPaHoFF

iTrader: (19)

Paid cash upfront for that reason of the payments.