Do you own your car?
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Super Moderator
Joined: Sep 2004
Posts: 6,312
From: Mexico
Originally Posted by V8 SyndicateZ
damn that hurts bro. I have 24 months left to pay. And I pay cl;ose to you...$433.51......I told my fiance that once i send in that LAST payment, I am going to throw MYSELF a party! I will have $433 extra a month to do what ever with. I need it.
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Posts: n/a
I got 4 years of $530.00 per month left.
Then again, i bought her *** brand spankin new. 28k retail, -7k markdown, +4k of overhead from previous loan, plus warranty, not to mention taxes.
All in all, its a lotta goddamn money. <laugh>
Sad thing is my buddy bought his 04 Cobra USED with less than 3,000 miles on it, his payments are 518.00 a month, 12 bucks less than my GT?,....
Where the hell was i when that thing was on the lot?
Luckily my Insurance is only like, 130 a month for full coverage, and my homeowners insurance is included in that.
Then again, i bought her *** brand spankin new. 28k retail, -7k markdown, +4k of overhead from previous loan, plus warranty, not to mention taxes.
All in all, its a lotta goddamn money. <laugh>
Sad thing is my buddy bought his 04 Cobra USED with less than 3,000 miles on it, his payments are 518.00 a month, 12 bucks less than my GT?,....
Where the hell was i when that thing was on the lot?
Luckily my Insurance is only like, 130 a month for full coverage, and my homeowners insurance is included in that.
Thread Starter
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Super Moderator
Joined: Sep 2004
Posts: 6,312
From: Mexico
Originally Posted by slappy
I got 4 years of $530.00 per month left.
Then again, i bought her *** brand spankin new. 28k retail, -7k markdown, +4k of overhead from previous loan, plus warranty, not to mention taxes.
All in all, its a lotta goddamn money. <laugh>
Sad thing is my buddy bought his 04 Cobra USED with less than 3,000 miles on it, his payments are 518.00 a month, 12 bucks less than my GT?,....
Where the hell was i when that thing was on the lot?
Luckily my Insurance is only like, 130 a month for full coverage, and my homeowners insurance is included in that.
Then again, i bought her *** brand spankin new. 28k retail, -7k markdown, +4k of overhead from previous loan, plus warranty, not to mention taxes.
All in all, its a lotta goddamn money. <laugh>
Sad thing is my buddy bought his 04 Cobra USED with less than 3,000 miles on it, his payments are 518.00 a month, 12 bucks less than my GT?,....
Where the hell was i when that thing was on the lot?
Luckily my Insurance is only like, 130 a month for full coverage, and my homeowners insurance is included in that.
...and i thought i had it bad...when my dad traded in his escort they only gave him 5 grand for it and he owed 9....they added the difference to the price of my gt...
Whats that Whining Noise?
Joined: May 2005
Posts: 411
From: South FL
bought her brand spankin new on july 04 with 2 miles. its been a little over a yr and i have less than 3 k left to pay. thank god...my monthly payment is 232 by the way...i also gave a good down payment.
Senior Member
Joined: Dec 2004
Posts: 717
From: Simi Valley, Ca
Originally Posted by slappy
I got 4 years of $530.00 per month left.
Then again, i bought her *** brand spankin new. 28k retail, -7k markdown, +4k of overhead from previous loan, plus warranty, not to mention taxes.
All in all, its a lotta goddamn money. <laugh>
Sad thing is my buddy bought his 04 Cobra USED with less than 3,000 miles on it, his payments are 518.00 a month, 12 bucks less than my GT?,....
Where the hell was i when that thing was on the lot?
Luckily my Insurance is only like, 130 a month for full coverage, and my homeowners insurance is included in that.
Then again, i bought her *** brand spankin new. 28k retail, -7k markdown, +4k of overhead from previous loan, plus warranty, not to mention taxes.
All in all, its a lotta goddamn money. <laugh>
Sad thing is my buddy bought his 04 Cobra USED with less than 3,000 miles on it, his payments are 518.00 a month, 12 bucks less than my GT?,....
Where the hell was i when that thing was on the lot?
Luckily my Insurance is only like, 130 a month for full coverage, and my homeowners insurance is included in that.
Administrator
Joined: Sep 2004
Posts: 6,613
My stang: $280/month
My Suburban: $515/month
My Van: $0/month
2001 20' Boat: $0/month
The Suburban is at 0%. Makes no sense to accelerate payments. Both cars have positive equity. I owe about 6k on the stang and it is worth double. The Suburban has about $5-6k equity in it, but that number is getting bigger at a rabid rate as the payments are out-pacing deprecetiation. Overall, not too bad. Between the two cars I owe about $18K which is extremely reasonable for my income range. On the one hand it would be smart to refinance both cars into one car loan. Use the equity on the Suburban to cover what is left on the stang, but I would loose the 0% interest rate. Even using a home equity loan would be a loss because of the 0% rate.
I will own my house in about 10 years. For some reason, I have prevented myself from buying another house over the past 12 years and have not bought a new car in 3+ years...a new record. I like it that way. No more new cars for me UNLESS it makes sense on paper.
BTW, some of you with large payments that do not own homes, are really missing out on an opportunity and are loosing money hand-over fist.
In the last few years my home has gone up in value by about $30k per year or more. That in an entire years salary for some people. If I were soaked in car payments (ie no money left over for a house) I would be missing out on this opportunity PLUS I receive a large tax advantage. The tax deduction on my home from interest on the mortage is enough to cover the stang payment. The IRS pays for my stang - LOL
You have to look and money in three dimensions.
My Suburban: $515/month
My Van: $0/month
2001 20' Boat: $0/month
The Suburban is at 0%. Makes no sense to accelerate payments. Both cars have positive equity. I owe about 6k on the stang and it is worth double. The Suburban has about $5-6k equity in it, but that number is getting bigger at a rabid rate as the payments are out-pacing deprecetiation. Overall, not too bad. Between the two cars I owe about $18K which is extremely reasonable for my income range. On the one hand it would be smart to refinance both cars into one car loan. Use the equity on the Suburban to cover what is left on the stang, but I would loose the 0% interest rate. Even using a home equity loan would be a loss because of the 0% rate.
I will own my house in about 10 years. For some reason, I have prevented myself from buying another house over the past 12 years and have not bought a new car in 3+ years...a new record. I like it that way. No more new cars for me UNLESS it makes sense on paper.
BTW, some of you with large payments that do not own homes, are really missing out on an opportunity and are loosing money hand-over fist.
In the last few years my home has gone up in value by about $30k per year or more. That in an entire years salary for some people. If I were soaked in car payments (ie no money left over for a house) I would be missing out on this opportunity PLUS I receive a large tax advantage. The tax deduction on my home from interest on the mortage is enough to cover the stang payment. The IRS pays for my stang - LOL
You have to look and money in three dimensions.
But I'm helping pay too. 
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