$263/$1,000 down/0% interest Corolla 2010 bought it Dec 2009, will be paid off in Dec. I was lucky I got 0%, it was when Toyota was getting bad publicity with the whole brake pedal getting stuck. They started at 15% APR and went all the way down to 0%
$0 a month. Car notes help keep the poor and middle class from becoming financially stable. The average car note in the U.S. is $500 a month..that's $6,000 a year. Instead I Paid $6,000 cash for a minivan with 65,000 miles on it. I'll drive it a good 6-7 years and save at least $25,000 (that assumes I spend $1,000 a year in repairs which isn't really likely to actually happen - I'm estimating on the high side). My last car was a 98 Saturn SL2 that Had almost 200,000 miles on it - I owned it for 15yrs and rarely had issues with it. Sure, it won't impress the people in the car beside me at the stop sign, but if I really car what strangers think of the car I drive, then I have bigger issues in my life anyway. The average millionaire buys a USED Honda or Chryslers. They don't buy new or flashy cars. They let the High-income-Low-Net-Worth people buy those (or the middle class lease them)
. How about you just answer the question instead of preaching to me how bad payments are on a car. I don't need your damn ideologies and thoughts on how I should spend my money If I want to buy a Corvette and pay the 500 a month note on it, I ****ing will. Not some damn Minivan or other bull**** for 6k. Why? Because I can afford it
I refuse to have a car note. Old school dude used to work where I had my trucks leased on to did it like ur supposed to do. He wanted to buy his wife a escalade or navigator for their 55th aniversity. Now he told me this like 3 yrs ago. So one day I come to check on my rig and he asked me to take him to the dealership. He walked in david taylor and told the dude he wanted that escalade and he was going to pay 50k cash for it. He said before you walk off, if you don't take it,I'm going to get the navigator. Salesman called his boss over,they said cool , eventhough the escalade was like 60 something. Mr Charles pulled out his checkbook and wrote it for like 55k. Talked to Mr Charles later that day and he said he saved that money up for 3yrs. He has no note,no mortgage,kids grown,paid for their colege all while not accumilating debt. I haven't had a car note in like 15 yrs. If you want it bad enough,save up and pay for it in cash. I know it sounds old fashioned,but it works.
Probably put a nice down payment with a low interest rate. Sounds good to me. To answer OP, I don't have a note. I've driven nice cars, 3 over the past 7 years. My last car was a 2011 GTI, costing me about $600 a month with insurance. In October 2012 I was in an accident and totaled the damn thing. Thank the Lord for that. Now I drive a 98 Saturn I bought for $2000 cash, but really tempted to pick up the 2015 GTI. L We'll see. Good morning everyone
$900/month. I could just pay it off, but for 1.9% financing, I'd rather invest that money at a higher rate elsewhere. S&P 500 was up almost 30% last year, as an example. debt isn't always bad, you just have to be smart about it
$0 I bought a 2000 Mercedes ML for cash in 2000 when money was cheap and stocks were expensive. Been driving it for 13 years, 175,000 miles. There's no ego left in it though. That all ran out at about at about 100,000. I'm not saying it's wrong to get an ego stroke by driving something new and nice; it was fun. But I knew going in I'd need to drive it 10 years to make good economic sense out of it. It's beat now but I'm really trying to get 200,00 out of it before I move on, I mean, it still has a cassette deck.
You're losing a lot of sleep and you feel the need to ask the advice from the collective idioacracy of the internet. Me thinks you can't afford that. And if you can, you should find a financial advisor, not a bunch of bafoons from Teh Interwebz
This. It isn't always best to pay it off. This is the same reason I pay the minimum on my student loans. The interest rate is so low, and I get the tax deduction, so I'm better off putting the money elsewhere. To answer the OP's question - I lease because I like having a new car every few years, and avoiding any additional charges like oil changes, new tires, etc. Yes, I know this goes against what I said earlier, but oh well. $216/month, $0 down, for a 2013 Camry.
The best thing to do is pay cash after the car takes a 40% hit the first two years and you have a nice used one. If you have to drive new do a 48 month lease and set it up proper instead of taking the 12k per year dealer special in Houston where we all drive more than that
