How much payment on ur ride?
10-16-07, 08:44 PM
#47
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damn....a 10% interest rate?!?!! are you kidding me?..good lord...
4k down/ 616 a month at 5.29% for 5 years..
is350 /lux/navi
feel sorry for u guys with that kinda rate...
4k down/ 616 a month at 5.29% for 5 years..
is350 /lux/navi
feel sorry for u guys with that kinda rate...
10-16-07, 11:25 PM
#50
Lexus Fanatic
900bucks a month for a car.... dude i got 2 words for ya, Credit Union.
*ppl ive noticed got some crazy money for monthly paments, even 500 a month is crazy, imo*
*ppl ive noticed got some crazy money for monthly paments, even 500 a month is crazy, imo*
10-17-07, 06:43 AM
#53
Lexus Test Driver
your payment doesnt compute.. unless you got a used car or a 250 because 616 a month for 60 months = 36,960 with no interest rate factor, 4k down means the sticker was about 40k you either had some equity in a trade or your interest rate is better than that.
10-17-07, 07:34 AM
#54
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I couldn't afford the 400-500 bucks a month that it would have been had I financed it right now. I'm most likely going to be buying it out after the lease term because I keep my mileage below 10k a year. In 3 years I will be much better off to be able to afford the higher payment.
10-17-07, 08:02 AM
#55
Lexus Champion
Some 'interesting' payment schedules in this thread. I think it shows people nowadays shop predominently on 'monthly payment' rather than what the car's total cost will be. We have indeed become a nation of 'payment minimizers', regardless of what the end cost is, just so we can get the most car or house for a set payment. Many of the people are paying ridiculous TOTAL sums of money for their cars either through high interest rates, stretched out payment terms, or poor lease structures. It really shows why the finance business is such a money maker opportunity for the dealers and manufacturers. Customers are often twisted around and pay more than they have to because the focus is always on the magical 'monthly payment'. The total cost seems irrelevant for most buyers.
10-17-07, 09:28 AM
#57
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damn, im in the market for an 06 IS 250 and ive seen them going for $28-29k. looking to pay about $2k down and $500/mo for 60-66 mos. think its possible for one at that price??? i have good credit....
10-17-07, 10:11 AM
#58
Pole Position
What I mean is, you can't get Luxury and sport together, not even special order. Just curious, that's all.
10-17-07, 10:28 AM
#59
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because it's been asked 10 trillion times. basically, if you pay cash for your car, you have no idea how to manage money, because that cash could be invested to make WAY MORE CASH than whatever interest lexus financial is currently offering.
meaning.... just because you CAN pay cash for the car, it would be a dumbarse idea to do so....
meaning.... just because you CAN pay cash for the car, it would be a dumbarse idea to do so....
You Sir obviously have no freakin clue about how to manage finances. Wealth is built by OWNING everything you have and not financing it. If you pay cash for a car you essentially got about 7% annual back on that money. Why? Because you are not paying 7% or more APR. Buying stuff interest free is the smart thing to do. If you think everyone has the ability to get a 7% or more return on their investments annually then you are a fool, not everyone is a Warren Buffett. You also have to take into consideration the commissions paid on trades, as well as the taxes. Basically to beat the percentage you would pay on the average auto loan you would need to turn 10% annually on your investments, which is about where the index sits. There is many a good financial advisor that can just barely match the index each year. If you think the average guy/woman can do the same you are wrong. Many an investor losses their a$$ in the market, whereas if one pays for a car cash they just guaranteed whatever interest rate they would have paid as a return on their funds, as opposed to paying over $5,600 in interest on say a 30k loan at 7% over 5 years. That’s money in the bank man. Now I know this sounds hypocritical since I financed, however I just did not have the cash to buy it outright and my desire for the car kicked the crap out of my frugal side.
10-17-07, 10:35 AM
#60
Some 'interesting' payment schedules in this thread. I think it shows people nowadays shop predominently on 'monthly payment' rather than what the car's total cost will be. We have indeed become a nation of 'payment minimizers', regardless of what the end cost is, just so we can get the most car or house for a set payment. Many of the people are paying ridiculous TOTAL sums of money for their cars either through high interest rates, stretched out payment terms, or poor lease structures. It really shows why the finance business is such a money maker opportunity for the dealers and manufacturers. Customers are often twisted around and pay more than they have to because the focus is always on the magical 'monthly payment'. The total cost seems irrelevant for most buyers.
who cares? if you can afford the monthly payment and you love your car...go for it
obviously in a perfect world, everyone would live within their means and pay cash for their car.
you only go around once. enjoy it
