Paid off my Protege!
January-10th-2003, 06:20 PM
#16
2002 RX-7 Spirit 'R'
Join Date: Jul 2002
Location: Brampton, Ontario, Canada
Posts: 872
Originally posted by douggie
So when does the interets "Kick in"? To my understanding, he got the 0% APR for 60 mths financing, so basically his monthly payment is the final car price divided by 60. And for the next 60 mths, he's going to pay 0% interest. And at the end of 60 mths, he would have paid off his car, so I really don't see anything "kicking in".
But of course, I might be wrong...
So when does the interets "Kick in"? To my understanding, he got the 0% APR for 60 mths financing, so basically his monthly payment is the final car price divided by 60. And for the next 60 mths, he's going to pay 0% interest. And at the end of 60 mths, he would have paid off his car, so I really don't see anything "kicking in".
But of course, I might be wrong...
on the last 12 months your rate would be higher than if you chose 1.9%APR or some thing even higher than that.
I dunno...I might have it totally wrong...but that has always been my take on it
January-10th-2003, 10:18 PM
#18
Protege Enthusiast
Join Date: Jun 2002
Location: Mississippi
Posts: 70
That's right about the 0%
I financed my P5 for 0% for 48 months. I don't see a point in paying extra payments for my car.
Now for my wife's Millenia (4.9%, the best Mazda was offering at the time), we pay extra every month to pay down the principal faster.
I financed my P5 for 0% for 48 months. I don't see a point in paying extra payments for my car.
Now for my wife's Millenia (4.9%, the best Mazda was offering at the time), we pay extra every month to pay down the principal faster.
January-10th-2003, 10:37 PM
#19
Hooray for Zoidberg!
Join Date: Sep 2002
Location: Silicon Valley, CA
Posts: 491
Put it this way... do you wan't to be paying off a car for 5 years or for 2? Me, I'd go with 2. I can afford to. In 2 years the car will be MINE and I would be able to drive it off a cliff if I so intended. Now, if I were to do that it'd be complicated...
January-10th-2003, 10:45 PM
#20
Protege Enthusiast
Join Date: Oct 2001
Posts: 484
Originally posted by KpaBap
Put it this way... do you wan't to be paying off a car for 5 years or for 2? Me, I'd go with 2. I can afford to. In 2 years the car will be MINE and I would be able to drive it off a cliff if I so intended. Now, if I were to do that it'd be complicated...
Put it this way... do you wan't to be paying off a car for 5 years or for 2? Me, I'd go with 2. I can afford to. In 2 years the car will be MINE and I would be able to drive it off a cliff if I so intended. Now, if I were to do that it'd be complicated...
Last edited by douggie; January-10th-2003 at 10:48 PM.
January-11th-2003, 07:46 PM
#21
Protege Newbie
Join Date: Dec 2002
Location: louisiana
Posts: 39
Personally I could have afforded a more expensive/luxurious car. But I refused to pay insurance on such a car. I'm under 25 and have a ticket on my record. Bought my car in december financed it for 3yrs should have it paid off in less than 2.
January-12th-2003, 04:14 AM
#23
Hooray for Zoidberg!
Join Date: Sep 2002
Location: Silicon Valley, CA
Posts: 491
Originally posted by douggie
I dunno. Seems to me that if you could afford to pay off a Protege in 2 years, you could actually afford a more expensive/luxurious car with good finance rates. An Audi A4 would be nice
I dunno. Seems to me that if you could afford to pay off a Protege in 2 years, you could actually afford a more expensive/luxurious car with good finance rates. An Audi A4 would be nice
Thread
Thread Starter
Forum
Replies
Last Post
TitaniumMSP
3rd Gen Protege/MazdaSpeed/P5/MP3
12
March-22nd-2005 12:47 PM
Zirguy
How-To's
2
October-4th-2003 12:24 AM
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)