Owners Ages
#561
45 here 3rd stang had a 66,67 an currently 12 boss
im a ford guy went through 3 explorers a 94 and 96 turbo t-birds and the current fam is a 09 edge with over 200K and 0 issues
back in the day i did sneak in a dodge stealth rt turbo
DD is a 03mitsu
im a ford guy went through 3 explorers a 94 and 96 turbo t-birds and the current fam is a 09 edge with over 200K and 0 issues
back in the day i did sneak in a dodge stealth rt turbo
DD is a 03mitsu
#562
#564
Legacy TMS Member
#568
Bullitt Member
#569
I'm 21, I've worked two jobs since I graduated while going to school full time. Sucked but now I have an amazing job with the best benefits you can find, oh, and a 2013 gt
#570
Bullitt Member
I have a longer term with a low interest rate and my payment is around $600 or so. I am, however, making $1,000 payments to cut down on the principal amount.
#571
Banned
Join Date: July 4, 2012
Location: Washington, DC
Posts: 2,983
Likes: 0
Received 0 Likes
on
0 Posts
Shelby would have been over 1k a month (65k for an optioned vert the way i wanted it) and I'm feeling a little stretched as is, only because little things here and there, days off, vacation have hurt my bottom line in 2013. should be a non-issue in 2014, but i don't want to jump into a Shelby quite yet especially if my spouse will be getting a Mini Countryman at some point.
#572
My gt is welllll under 800 but, mine is a base model, with a bunch of aftermarket lmao.
I pay well over 1,000 each month, but in the back of my head I know I don't HAVE to pay that so it makes life so less stressful.
I pay well over 1,000 each month, but in the back of my head I know I don't HAVE to pay that so it makes life so less stressful.
#573
Cobra Member
Just a thought for those of you making larger than required car payments. If you are blessed with an auto loan with a really low interest rate (as in, below what you could earn on investments), you are better off taking that extra money and plowing it into your investments.
#574
Bullitt Member
Just a thought for those of you making larger than required car payments. If you are blessed with an auto loan with a really low interest rate (as in, below what you could earn on investments), you are better off taking that extra money and plowing it into your investments.
No. 1, because money is good right now, might as well sink I little extra in while I still can. If hours get cut back or something else happens, I can free up ~$400 a month without even noticing.
No. 2, my credit score is really good, but it could be much better. This is my first large item financed on my credit, and proving my ability to pay on the item will help my relationship with the credit union immensely
No3, partly tied into the previous, with a better score, I can get a much better interest rate, plus, If I get the principal paid down I can refinance it if something were to happen to free up more income.
No4, if in a few years, I decide I want another car, or another mustang, etc, I will have enough equity, or maybe even have it paid off, which will greatly help.
No5, I plan on financing my own home in a year or so. I'm already stashing away to have at least 10-20% down for when I go to get it, plus I can then refinance at a much better interest rate and lower my car payment drastically(if I need to for budgeting reasons, the option will always be open. Plus better credit never hurts.
#575
Like Father...
I ♥ Sausage
I ♥ Sausage
Seeing as how a Mustang isn't usually a commuter car like an Accord, etc. and tends to be a toy, why would anyone finance it unless they were getting an extremely low interest rate on it so they could use the money somewhere else?
For that matter, why would anyone take on car payments at all unless the interest rate was 0.9% or something so they could make money off of the cash in another place like I mentioned before.
Financing a car and paying interest on it is stupid unless you're in a position where that is the only option. And if that is the only option, a Mustang probably isn't the best car to be buying if your financial situation is that bad off.
For that matter, why would anyone take on car payments at all unless the interest rate was 0.9% or something so they could make money off of the cash in another place like I mentioned before.
Financing a car and paying interest on it is stupid unless you're in a position where that is the only option. And if that is the only option, a Mustang probably isn't the best car to be buying if your financial situation is that bad off.
Last edited by Rather B.Blown; 2/9/14 at 12:24 AM.
#576
Banned
Join Date: July 4, 2012
Location: Washington, DC
Posts: 2,983
Likes: 0
Received 0 Likes
on
0 Posts
why can't i finance a Mustang? So you're saying just because i can afford to finance a 60k car, i should finance a 25k accord even if i don't like or want it?
i wanted a Mustang, i had little for a downpayment, but i had a trade-in that was paid off.
It's my only car. I commute. it's already got over 30k on it, and I've only had it 18 months.
Why can't my fun car be my commuting/dd car, my toy/weekend car, and be my winter beater all in one?
In the end it's just a car.
By your logic, Buying a house and paying interest on it is just stupid. Guess next time we should save up half a million and just pay cash.
i wanted a Mustang, i had little for a downpayment, but i had a trade-in that was paid off.
It's my only car. I commute. it's already got over 30k on it, and I've only had it 18 months.
Why can't my fun car be my commuting/dd car, my toy/weekend car, and be my winter beater all in one?
In the end it's just a car.
By your logic, Buying a house and paying interest on it is just stupid. Guess next time we should save up half a million and just pay cash.
#579
Bullitt Member
Seeing as how a Mustang isn't usually a commuter car like an Accord, etc. and tends to be a toy, why would anyone finance it unless they were getting an extremely low interest rate on it so they could use the money somewhere else? For that matter, why would anyone take on car payments at all unless the interest rate was 0.9% or something so they could make money off of the cash in another place like I mentioned before. Financing a car and paying interest on it is stupid unless you're in a position where that is the only option. And if that is the only option, a Mustang probably isn't the best car to be buying if your financial situation is that bad off.
I'm young, don't have a spouse or kid, and my financial decisions don't affect anyone but myself.
#580
Seeing as how a Mustang isn't usually a commuter car like an Accord, etc. and tends to be a toy, why would anyone finance it unless they were getting an extremely low interest rate on it so they could use the money somewhere else?
For that matter, why would anyone take on car payments at all unless the interest rate was 0.9% or something so they could make money off of the cash in another place like I mentioned before.
Financing a car and paying interest on it is stupid unless you're in a position where that is the only option. And if that is the only option, a Mustang probably isn't the best car to be buying if your financial situation is that bad off.
For that matter, why would anyone take on car payments at all unless the interest rate was 0.9% or something so they could make money off of the cash in another place like I mentioned before.
Financing a car and paying interest on it is stupid unless you're in a position where that is the only option. And if that is the only option, a Mustang probably isn't the best car to be buying if your financial situation is that bad off.
For my interest I'm paying right over 2,000. To me, that's not bad.
Not many people can save up 45-60k just to get what they want. Besides, the way it is now, if you don't pay for interest rates, finance, get loans, exc. you will be behind. I'm only 21 and my credit score is higher than 87% of all credit karma users.