Paid off my Protege!
#16
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
#18
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.
#19
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...
#20
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.
#21
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.
#23
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
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