Mustang Evolution Forum banner

1 - 5 of 5 Posts

·
Registered
Joined
·
28 Posts
Discussion Starter #1
ok, im not saying im getting one now, im just wondering. so theres this car i want, its a 2002 ford mustang, its price is $8,500 and say i only have $2,500-$3,500, how much would i have to pay a month (down payments to pay the rest of it)? and whats the best car insurance?

thanks!
 

·
Registered
Joined
·
45 Posts
You should also consider that such a car may be expensive to insure. Check your insurance rates before buying one, for example here - autoinsurance.hotusa.org
 

·
Registered
Joined
·
33 Posts
1st insurance depends alot on your age and driving record.

if your 21 or younger and you get insurance by yourself and don't have previous insurance or DL over 3 years and want a full coverage don't expect to pay less that 200 monthly just for insurance.

now most isnruance comapnies ask for a down payment of the first 2 months of premium.

i would suggest to get and older car if you are yunger than 21.
 

·
Registered
Joined
·
51 Posts
It depends on several factors. Say, you put down $2500 and finance $6000 for 60 months. Depending on the interest rate you could get from the bank (e.g., 4.99%, 6.99%, etc..) your payment would be between $120 and $150, roughly. You'd have to work out exact numbers with the bank. You can also estimate payments using auto loan calculator from www.bankrate.com, for example.

In regards to the insurance company, you'd need to shop around. I found that AAA and Progressive are on the expensive side compared to Esurance or Geico. Typically, the younger you are, the higher is the insurance premium, plus it also depends on the type of car. Mustangs are considered sports cars and are more expensive to insure.
 

·
Registered
Joined
·
40 Posts
Interest rates on a used car are very high. Insurance (im assuming you are young) will be expensive for you since its a sporty car, and because you are financing it. Your best bet is to save your money, over 8,500 or however much it costs. Right now call up some insurance companies, tell them your situation and see how much they qoute you. Call a few companies, they will be more than happy to help. GL.
 
1 - 5 of 5 Posts
Top