how'd you finance your car
05-26-2007, 11:58 PM
#21
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I sold my original unrestored and # matching 69 RS/SS Camaro that also happened to be a highly optioned and very rare orange/orange collor combo
. I also sold a very rare one owner #s matching low mile 69 Z10 Indy accented coupe
I cut my home loan in half and dumped the rest into another car.
. I also sold a very rare one owner #s matching low mile 69 Z10 Indy accented coupe I cut my home loan in half and dumped the rest into another car.
05-27-2007, 12:05 AM
#22
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I made a deal with my citibank card. Got it in the form of a bank check at 3.99% APR until I pay it off (don't ever pay late!!!!) into my account, then paid the car with cash once it cleared.
05-27-2007, 12:17 AM
#24
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You guys who are all about paying cash, yeah that can be great and car payments do suck, but ya gotta think about the bigger picture.
If you are able to get a loan for ~6%, you're better off taking the loan and keeping your cash. Why? Because it's not that hard to make a 10% annual return with secure investing if you have that kind of cash laying around. I'd rather take a 6% car loan and make a 10% return rate on my cash, that way I'm up 4%.
If you are able to get a loan for ~6%, you're better off taking the loan and keeping your cash. Why? Because it's not that hard to make a 10% annual return with secure investing if you have that kind of cash laying around. I'd rather take a 6% car loan and make a 10% return rate on my cash, that way I'm up 4%.
05-27-2007, 12:45 AM
#25
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I went through my local bank and took out a "personal" loan.
Borrowed $7500 for 36 months at about 6%. This was the amount I needed to go along with all the cash I saved up for my Camaro SS.
Good luck!
Borrowed $7500 for 36 months at about 6%. This was the amount I needed to go along with all the cash I saved up for my Camaro SS.
Good luck!
05-27-2007, 02:39 AM
#26
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I'm 19 i got my car 2 months ago and I went to a credit union and my dad co-sign for the car and i put zero money down and my intrest rate was alitte over 6%. Also my loan was alittle more then 14k 
05-27-2007, 06:30 AM
#27
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Well, I got everybody beat....
Borrowed $16k for my 2002 had 33k miles on it.
I paid TT&L up front ($1,000)
Almost embarassed....
17.1% for 48 months. (paying $400/month)
Owie, but there is a reason why it's that high. Low credit score BUT, when I needed the car we had just finished closing on a house three months prior. So, obiouvlsy I had a $108k giantic debt on my credit report with not enough payment history on it.
Not sure if it's worth to refinance tho....any ideas?
Borrowed $16k for my 2002 had 33k miles on it.
I paid TT&L up front ($1,000)
Almost embarassed....
17.1% for 48 months. (paying $400/month)
Owie, but there is a reason why it's that high. Low credit score BUT, when I needed the car we had just finished closing on a house three months prior. So, obiouvlsy I had a $108k giantic debt on my credit report with not enough payment history on it.
Not sure if it's worth to refinance tho....any ideas?
05-27-2007, 10:50 AM
#30
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I bought my old 99 Z28 in Aug 2005(Age 20), Zero down, 6.5% interest, no co-signer. Last December, I bought a 98 Formula for $5500, Zero Down, No Cosigner, 8.5% interest. I've financed 5 cars, the first was a 2000 Malibu(back in 03) My Father Co-signed me, had a 3.9% Interest rate, put Zero-down. I bought a couple trucks as well(Chevy 99+ 1500's.)
05-27-2007, 11:12 AM
#31
Originally Posted by RPM WS6
You guys who are all about paying cash, yeah that can be great and car payments do suck, but ya gotta think about the bigger picture.
If you are able to get a loan for ~6%, you're better off taking the loan and keeping your cash. Why? Because it's not that hard to make a 10% annual return with secure investing if you have that kind of cash laying around. I'd rather take a 6% car loan and make a 10% return rate on my cash, that way I'm up 4%.
If you are able to get a loan for ~6%, you're better off taking the loan and keeping your cash. Why? Because it's not that hard to make a 10% annual return with secure investing if you have that kind of cash laying around. I'd rather take a 6% car loan and make a 10% return rate on my cash, that way I'm up 4%.
05-27-2007, 12:45 PM
#33
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I agree. By paying cash, I don't have that constant worry that I'm going to keep paying on a car I won't have. It's paid for. Done with. No problem. Now let's break stuff! LOL!
05-27-2007, 01:04 PM
#36
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Bought mine about 2 months ago, 2001 Z28 18k miles on it. Got it got 13k and went through Wescom credit union, no money down 9% interest, 290 a month for something like 52 months, but I have been putting 400 a month on it because there is no early paid fee or whatever they call it so it should be paid off in just over 2 years 
unless I get some big bunches of cash for some reason every now and then.
unless I get some big bunches of cash for some reason every now and then. 
