Mustang Evolution Forum banner

1 - 20 of 62 Posts

·
Registered
Joined
·
31 Posts
Discussion Starter #1
Okay decided I'm gonna go ahead with my purchase and I'm doing this purchase on my own no co-signer this time..... Pending I can get good rates and price... But my question is if you were to finance how long would you finance your car for ? What is the longest you would?
 

·
Banned
Joined
·
3,606 Posts
I don't do longer then 5-6 yrs. Just depends on what my interest and payment is. But defiantly if you can swing short months do it. Its paid of quicker and they usually give best interest rates for lower months you go.
 

·
Registered
Joined
·
151 Posts
If u can swing an extra $100 a month, then it will really make a difference when u try to sell it. Nothing worse then a paying for a car for six years and still being upside down. The longer the term the higher the interest usually.
 

·
Registered
Joined
·
565 Posts
6 years is a long time to make payments... I wouldn't go any longer than you can afford. I have gotten 6 year loans on 2 cars and I would only do it with a car I am sure I am going to keep for a long while...

It is easy to be upside down on a 6 year note, and that sucks if you are trading it in..
 

·
Registered
Joined
·
173 Posts
For a new car i would say 5 to 6 years, but the least amount of years you can comfortable afford is best obviously. You end up saving interest in the long run and like one of the other guys said you won't be upside down for so long. Another thing to consider is insurance also because depending on all the factors involved, full coverage for you may be expensive!
 

·
Registered
Joined
·
31 Posts
Discussion Starter #13
Well I'm I'm 21y/o and I have two speeding tickets 1 drops off this year and the other the end of next plus I have two not at fault accidents which I don't think those hurt my rates
 

·
Registered
Joined
·
532 Posts
If your worried about and wondering about how to finance a vehicle id look for a cheaper vehicle. Ive paid cash for all my rides. But of course they were used.
 

·
Registered
Joined
·
31 Posts
Discussion Starter #15 (Edited)
03GT88 said:
If your worried about and wondering about how to finance a vehicle id look for a cheaper vehicle. Ive paid cash for all my rides. But of course they were used.
Oh I'm not worried about it my dad was just telling me not to finance anything over three years but I was telling him that's easy for you to say wham your making 200k a year after bonuses. And I wouldn't buy a 2011/2012 used for the simple fact they were more likely a used and abused
 

·
Registered
Joined
·
173 Posts
NightMare5.0 said:
Well full coverage for me will be about 150/month given I can stay out of the throttle
Imo, $150/m isn't bad for a 21 yr old mustang driver. Hell i used to pay more than that for a grand am gt I use to have. Now that I'm a lil older I pay a lot less for insurance :)
 

·
Registered
Joined
·
702 Posts
5pointOh said:
Imo, $150/m isn't bad for a 21 yr old mustang driver. Hell i used to pay more than that for a grand am gt I use to have. Now that I'm a lil older I pay a lot less for insurance :)
Agreed not bad at all considering ur age
 

·
Banned
Joined
·
3,606 Posts
Oh I'm not worried about it my dad was just telling me not to finance anything over three years but I was telling him that's easy for you to say wham your making 200k a year after bonuses. And I wouldn't buy a 2011/2012 used for the simple fact they were more likely a used and abused
Not necessarily. I know guys that have traded a 2011 5.0 manual for auto after 3 months. Or traded a 2011 auto for a manual. One guy local traded his 2011 5.0 in on a 2012GT500SS. Another traded his 2011 5.0 in on a truck after finding out his wife was prego.
 
1 - 20 of 62 Posts
Top