by "mazda616" (mazda616)
Published 04/02/2017 at 20:27
by "mazda616" (mazda616)
Published 04/02/2017 at 20:27
Tags: Car Loans
STARS: 1
My post about my friend taking out a 96-month loan on a new Tacoma got me to thinking. What types of car loans are there on Oppo? Post what you drive, when you got it, what your loan term is, and what your interest rate is. You can post your monthly payment if you want.
Me, I have a 2016 Mazda6 i Touring. Has the automatic transmission (shut up) and the Bose/Sunroof package. Bought October 2015 with 6 miles on the odometer. My loan is 75 months at 2.99% with monthly payments of $296.79. We got $5,500.00 for my trade-in and put $1,000.00 down. It stickered for just over $27,000.00.
I pay $300.00 each month so it’s even. Eventually, I’m going to make some double payments here and there, but that’ll just depend on other circumstances (I.E. my darling son, one of the reasons I bought the car).
I understand if you’re anti-car payments or anti-debt. That’s cool. Congrats! No need to brag about that, though.
"Jordan and the Slowrunner, Boomer Intensifies" (jordanwphillips)
04/02/2017 at 20:28, STARS: 5
Fiesta ST, 60 months at 0% interest.
"TheHondaBro" (wwaveform)
04/02/2017 at 20:30, STARS: 1
NO BANK OWNS MY CAR I OWN IT
"E90M3" (e90m3)
04/02/2017 at 20:30, STARS: 1
M3 - 60 months at 4.5%, 40% down plus taxes
328i - 60 months at 5.5%, nothing down. (The high rate is because it’s a 2009)
"mazda616" (mazda616)
04/02/2017 at 20:30, STARS: 0
Ugh. I wanted 0%. They were only offering that on 36 or 48 months at the time.
"mazda616" (mazda616)
04/02/2017 at 20:33, STARS: 1
40% down?! Nice.
"Jordan and the Slowrunner, Boomer Intensifies" (jordanwphillips)
04/02/2017 at 20:33, STARS: 0
It’s part of Ford’s first time buyer program.
"mazda616" (mazda616)
04/02/2017 at 20:33, STARS: 0
Nice. Do you still like your Fiesta?
"mazda616" (mazda616)
04/02/2017 at 20:33, STARS: 0
CONGRATS.
"Honeybunchesofgoats" (honeybunche0fgoats)
04/02/2017 at 20:33, STARS: 0
2001 XJ8L. My monthly payment is variable based on what breaks each month. If I average services from the start of the year, then my monthly payment is $500 (oil change, transmission fluid change, rear suspension, brake discs and pads, broken interior door handle).
"The Crazy Kanuck; RIP Oppositelock" (jukesjukesjukes)
04/02/2017 at 20:35, STARS: 0
60 months @ 4.99%, $313.83/month (made 8 payments so far). $0 down, & lost $1,600 on trade. That $1,600 lost on trade is paid back, I’ll have the interest paid by the end of the summer. I thinking of re-financing as soon as the interest is paid.
"Jordan and the Slowrunner, Boomer Intensifies" (jordanwphillips)
04/02/2017 at 20:35, STARS: 7
Yes, I’ve gotten over the quality issues for the most part. I’ve come to the understanding that they spent all of their development money on cocaine and chassis tuning.
"TheTurbochargedSquirrel" (thatsquirrel)
04/02/2017 at 20:36, STARS: 1
My car isn’t nice enough for a payment. Bought it for $3000 and 2 old kayaks.
"Dr. Zoidberg - RIP Oppo" (thetomselleck)
04/02/2017 at 20:37, STARS: 0
Nothing until I pay off our student loans, but planning on putting 50-70% down on something under $20k.
"Honeybunchesofgoats" (honeybunche0fgoats)
04/02/2017 at 20:37, STARS: 2
PLS NO STEP ON HONDABRO
"Nibby" (nibby68)
04/02/2017 at 20:41, STARS: 1
Banks pay *me*
"jimz" (jimz)
04/02/2017 at 20:41, STARS: 0
took out a 48-month note on my 2011 Ranger (bought used in 2013) and paid it off in about 2.5 years.
didn’t finance the Harley.
"E90M3" (e90m3)
04/02/2017 at 20:41, STARS: 1
My company had been paying for housing and since I wanted an M3, I had been saving all my extra funds. I couldn’t get financed on the first M3 I tired to buy , so I didn’t want to let one get away again. Even with 40% down, some banks wouldn’t finance me. My goal was to pay it off in 2 years, so I figured the more I could put down, the better.
"Highlander-Datsuns are Forever" (jamesbowland)
04/02/2017 at 20:43, STARS: 2
2013 Subaru Outback, 60 month term at $300/month 1.9% APR. It will be paid off this fall.
"Aaron M - MasoFiST" (amarks563)
04/02/2017 at 20:45, STARS: 0
My 128i was 2.1% for 60 months, but I repaid in 12 because I’m allergic to debt. It was only 230 a month, so it might have been better to keep the payment and have a bigger house down payment fund...
"Ram_Riot_6" (tony-ram-riot)
04/02/2017 at 20:45, STARS: 2
2016 Mazda6 GT, 60 months at 2.39% with ~45% down. Bought it last May and plan to have it payed off by the end of 2018.
"Dr. Zoidberg - RIP Oppo" (thetomselleck)
04/02/2017 at 20:46, STARS: 5
Banks HATE him! Find out how one community college dropout is ruining the auto loan industry!
"Nibby" (nibby68)
04/02/2017 at 20:48, STARS: 0
who says I went to community college/
"Dr. Zoidberg - RIP Oppo" (thetomselleck)
04/02/2017 at 20:49, STARS: 4
Find out how one GED recipient is ruining my joke!
"Nibby" (nibby68)
04/02/2017 at 20:49, STARS: 0
I have a Master’s!
"lone_liberal" (token-liberal)
04/02/2017 at 20:50, STARS: 0
My DD is paid off and the POS Camaro was an $800 basket case paid for in cash but my wife’s G37x is on the very last bit of a 60 month note with a 3% rate. Payments were in the $500 range.
"Dr. Zoidberg - RIP Oppo" (thetomselleck)
04/02/2017 at 20:51, STARS: 1
That’s offensive
"Nibby" (nibby68)
04/02/2017 at 20:52, STARS: 0
truth hurts
"ADabOfOppo; Gone Plaid (Instructables Can Be Confusable)" (adabofoppo)
04/02/2017 at 20:52, STARS: 0
16 GTI; 60 months at 1.9%, $5k down.
"Jack Does Cars" (jackdoescars)
04/02/2017 at 20:56, STARS: 0
We bought my 2001 Volvo V70 because it’s worth about $3.50, but she’s financing the 2006 Audi A3 3.2 Quattro for 48 months, $1,500 down, with 2.9% interest. We got it in 2014 but it should be payed off by the end of this year which is great.
"Wobbles the Mind" (wobblesthemind)
04/02/2017 at 20:57, STARS: 0
Hope you all are sitting down:
2006 Kia Amanti, July 2014. Was for 48 months at 2.89%. Came out to $183 a month.
2012 Jeep Grand Cherokee Laredo X, Sept 2015. Is for 84 months at 2.99%. Comes out to $373 a month.
2012 Jaguar XF Base, Feb 2016. Is for 84 months at 3.24%. Comes out to $444 a month.
"DipodomysDeserti" (dipodomysdeserti)
04/02/2017 at 20:58, STARS: 0
2013 CPO BMW X1 for 60 months at 1.9%. Picked it up for around $22k with 30k miles.
"Nerd-Vol" (Nerd-Vol)
04/02/2017 at 21:01, STARS: 1
I feel like I was responsible, despite going a bit longer on terms.
2016 Mazda 3i Sport, 6MT.
72 months financed at 2.54%. If I would have waited I could gotten 0% from Mazda, but I was growing concerned with the reliability of my Mazdaspeed 3.
I had about $6500 down and my payments are about $212 a month. I try to pay about $230 a month. I’m happy. Once I get a better paying job I will start making bigger swings at it.
"Spaceball-Two" (spaceball-two)
04/02/2017 at 21:08, STARS: 1
CX5- 60 months at .09
F150- 48 months at 2%
"deekster_caddy" (deekster_caddy)
04/02/2017 at 21:12, STARS: 2
Honestly I feel like anything more than 60 months and you are at major risk of being underwater for most of the life of the loan. 96 months? Insanity. He had better get gap insurance!
I bought my ‘13 Volt new in December 2012 on a 0% 60 month loan thanks to Ally/GM. Because it was at 0% I financed the entire thing. Payments are $600/mo and almost done (only 9 payments left woohoo!). I also got $7500 back on my tax returns for buying an EV, that went straight into the bank account I make my car payments from. No gap insurance needed thanks to that $7500 in the bank, and I’ve been underwater until this year.
"mazda616" (mazda616)
04/02/2017 at 21:13, STARS: 2
I agree. I feel the same way. I’m still ahead by a decent amount (not close to being upside down), so I’m okay with it. That, and my wife’s car (‘13 CX-5) is paid off. And of course my ‘95 S-10 was bought with cash. So my car is the only loan we have besides our mortgage.
"BahamaTodd" (bahamatodd)
04/02/2017 at 21:14, STARS: 0
How much lower was the price if you didn’t take the 0% option?
"yamahog" (yamahog)
04/02/2017 at 21:14, STARS: 2
nice try, FBI
"Jordan and the Slowrunner, Boomer Intensifies" (jordanwphillips)
04/02/2017 at 21:16, STARS: 0
As a first time buyer, with no credit history, the option was that or pay cash.
"yamahog" (yamahog)
04/02/2017 at 21:18, STARS: 6
*in shitposting
"Old Red Wagon" (wr10)
04/02/2017 at 21:19, STARS: 0
2016 VW GTI, $16,500 down, 60 month term, at 2.43%. Payments are $216 a month. I’ve been doubling up on payments here and there. Owe less than $5k on it so i’ll pay it off in the next year probably.
"Danger" (dangerray)
04/02/2017 at 22:00, STARS: 0
2014 KTM 690 Enduro paid off. 4% I think? Paid $8k off in a year.
2005 4Runner paid off. 3% Paid $17k off in 18 months.
"Levitas" (levitas)
04/02/2017 at 22:17, STARS: 0
2016 Fiesta ST, $0 down, 72 months at 0% due to employee pricing. Hedged my bets and rolled the remainder of my lease into the loan so I’m at $363ish a month.
"Stephenson Valve Gear" (stephensonvalvegear)
04/02/2017 at 23:00, STARS: 0
Darn it Zoidberg! Here... just take all my stars! :D
"Z (ND + Cancer Fighter)" (roadsterzach)
04/02/2017 at 23:24, STARS: 1
2016 Mazda MX-5 Miata Sport Manual - Only option AKE - MSRP $25880 - Paid $23880
Rolled in $3k negative equity on trade-in after they dicked us around on its value. With taxes, equity and fees, the out the door price was $29980. Put down $7.5k plus taxes, so total of $9.8k down.
Financed for 72 months at 3.49% interest rate (only 36 months had a better rate), with a monthly payment of $311. We pay $625 minimum each month, throw extra money at the principal when we can and should have it paid off by the middle of the third year of the loan.
2017 Fiat 124 Spider Classica Manual - No Options - MSRP $25990 - Paid $23250
Rolled in $3k negative equity because EcoBoost Mustang values suck. With taxes, equity and BS, the out the door price was $28850. Put down $8.5k total (only wanted to put down $5k, but I covered the unexpected negative equity from the Mustang). Financed for 75 months at 2.9% interest rate with a monthly payment of $293. I pay $550 minimum each month, throw extra at it when I can, and should have it paid off by the end of the third year of the loan.
"FTTOHG Has Moved to https://opposite-lock.com" (alphaass)
04/03/2017 at 00:04, STARS: 0
Damn. This is same year, model, rate and term as one of my loans.
"FTTOHG Has Moved to https://opposite-lock.com" (alphaass)
04/03/2017 at 00:10, STARS: 0
2013 Outback, new, 60 months at 1.9% and a 2014 Forester, CPO in 2015, 60 months at 1.65%. I’m going to have the Outback done in about 6 months - so 6 months early. I’m on fence after that about throwing extra at the Forester or just letting it ride and putting extra towards the second note on my house that I did an 80/15/5. I plan to keep the Outback forever, so I’ll also need to be putting more away for maintenance since the warranty is coming to an end.
"Baskingshark" (Baskingsharks)
04/03/2017 at 00:13, STARS: 0
2017 Fiesta ST
I put $2500 down and am at 60 months @ 0.9% financing through Ford. I think my payment is right around $417. I have not made my first one yet.
I also bought out our leased 2014 Honda Pilot at 48 months at 4.74%, the payment is $458 a month. We had a 36 month lease that ended, we were over on miles by a little bit, and I really liked the truck so I decided to stay with it.
"Highlander-Datsuns are Forever" (jamesbowland)
04/03/2017 at 00:25, STARS: 0
But this is a manual six speed with a new short block!
"pip bip - choose Corrour" (hhgttg69)
04/03/2017 at 04:21, STARS: 0
no loan when i bought my car, i paid cash.
"FTTOHG Has Moved to https://opposite-lock.com" (alphaass)
04/03/2017 at 07:19, STARS: 1
lol. PS I have an appointment to drop off my Forester for the short block job today at noon.
"merged-5876237249235911857-hrw8uc" (merged-5876237249235911857-hrw8uc)
04/03/2017 at 10:37, STARS: 0
$1700 for using someone else’s money for that long of a period doesn’t seem too bad.I had done worse in past car purchases. I’ve Jason my share of 60 month terms with no downpayment, so I’ve lived the gap covered life for a couple cars. No longer though. We stick to a 3 year and out policy. If we can’t swing the payments to get what we want in three years, then we don’t purchase. We picked up a new pacifica his past year and financed it for 3 years for under a point in interest. If we added a year to the payments, we added a point per year. It’s a big payment for sure, but worth it to stay ahead of the depreciation curve. This is actually the first new vehicle I’ve ever owned too. I’m more a fan of the 2-3 year old lease turn ins. Much better value. My current daily driver is an 09 S8 that I was able to pay cash for after we sold off my previous daily driver 12 S4 that was financed for 3 years. Again, that one was financed for less than a point for interest too. Then we put a bunch down from the sale of our previous car. All said, we only financed 20k for a 40k car last time around.
I thought my cousin was nuts for financing a vehicle for 72 months, well he still is, as he’s not getting a low interest rate either....but I digress. If you’re smart with the payments and know what you can really afford, go for it. I’m just cautious when it comes to long terms on vehicle purchases. I’ve been on both sides of it, so I can safely comment that the shorter term works much better. Especially if you’re in the used car purchasing game. Stretching a used car purchase out to more than three years seems irresponsible and a bit silly. Now you’ve got a vitually worthless ride at the end of your loan payoff, whereas if you go with a 3 year term, or less, you still have some value at the end of the payoff. Now new cars, that’s a bit different, because it will still have some value at the end of the day.
As long as you’re respnsible about it, and more importantly, can liquidate it if you had to and not lose cash, then go for it. And as long as you don’t fool yourself into thinking you need something new and expensive to be happy, and you can actually afford it, then more power to you.
Cars aren’t an investment, normally, so be smart about it, but you still need to be able to enjoy the drive. Just don’t lose your head. It took me three cars to finally payoff the first car I bought back when I was young and foolish. Negative equity is a bitch.
"merged-5876237249235911857-hrw8uc" (merged-5876237249235911857-hrw8uc)
04/03/2017 at 10:40, STARS: 0
Free money is the best money.
"merged-5876237249235911857-hrw8uc" (merged-5876237249235911857-hrw8uc)
04/03/2017 at 10:42, STARS: 1
Hell, if they’ll give you free money, then take it as long as possible. Nice.
"WiscoProud" (wiscoproud)
04/03/2017 at 12:03, STARS: 0
I always thought the Mazda6 was such a nice looking vehicle, shame they didn’t give it the power it deserved. It just looks sporty.
As to your question, 2004 Land Cruiser, financed for 4 years, around $17-18k initial loan balance at 6% or so. I refinanced with my credit union and brought it down to 3.24%. The high initial rate was due to the age of the vehicle. For some reason that matters more for a new loan than a refinance.
"mazda616" (mazda616)
04/03/2017 at 14:49, STARS: 0
The rumor mill is spinning and saying that the 250 horsepower turbo SkyActiv motor from the CX-9 will be in the 6 soon.
But, for my needs, it has more than enough power.
"WiscoProud" (wiscoproud)
04/03/2017 at 14:51, STARS: 0
I think that would be a good start, although I would love to see a MazdaSpeed 6
"deekster_caddy" (deekster_caddy)
04/03/2017 at 15:41, STARS: 0
that’s what I figured. 0% loan is like free money!