Wow, they literally stuck it in her ***

[ls2poweredgoat 5,000+ posts]

So I was talking to a friend of mine at school the other day, she decided she wanted a new car.

She's 20 years old fyi, and financed the car herself.

She bought a 2008 Civic coupe, BONE stripped. That's roughly a $16,000 car right? Give or take $1,000

She put $4,000 down, financed it for 6 years (72 months), and is paying $318 a month.

$318 x 72 = $22,896

So in the long run she's paying $22,896 for a $15,000-$17,000 car.

They could have atleast lubed her up first. //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif

Click to read more...

 

[Buck 5,000+ posts]

That's why it's good to try to pay for everything straight up.

 

[jco1385 5,000+ posts]

buy american.

fckin idiots

 

[nismos14 5,000+ posts]

Thats what happens when you finance. There has to be some insentive for the bank to loan you the money, and it is interest. This is normal.

 

[_DjScrew_ 5,000+ posts]

I'm also 20 and bought my first car off a lot this year. I paid 16,5 and my payment is like 325 a month. I always pay 450 to stay a bit ahead though.

 

[ls2poweredgoat 5,000+ posts]

That's why it's good to try to pay for everything straight up.

...or do some research, get a decent used car with low miles on it, and not pay out the anus.

She had a 2004 Grand Am, beat to hell, with a trashed interior (women drivers FTMFL), and had no car payment. I would have kept it.

So 5 years from now, she's going to be driving a 5 year old car, that's (most likely) going to be trashed and beat to hell, but still be paying $318 a month.

Ouch.

 

[ls2poweredgoat 5,000+ posts]

I'm also 20 and bought my first car off a lot this year. I paid 16,5 and my payment is like 325 a month. I always pay 450 to stay a bit ahead though.

That's smart of you. I need to start doing that with my car. //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

 

[TurdFergueson2 5,000+ posts]

So I was talking to a friend of mine at school the other day, she decided she wanted a new car.
She's 20 years old fyi, and financed the car herself.

She bought a 2008 Civic coupe, BONE stripped. That's roughly a $16,000 car right? Give or take $1,000

She put $4,000 down, financed it for 6 years (72 months), and is paying $318 a month.

$318 x 72 = $22,896

So in the long run she's paying $22,896 for a $15,000-$17,000 car.

They could have atleast lubed her up first. //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif

That's called bad credit or not knowing your shit before you go in. Dealers love buyers that don't do their homework first.

 

[mcsoul 10+ year member]

No.

$22,896 + $4000 = $26,896

 

[sundownz Pro Seller]

If that is a 17k car that is a bit over 10% APR - which is a bit high.

They got me for 8.4% on my VW GTI - pretty average right now.

I have gotten as low as 4.25% before.

 

[_DjScrew_ 5,000+ posts]

That's smart of you. I need to start doing that with my car. //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

Yeah, it took me a while to make the decision to do it. I've always just bought a car out of the paper or off a small lot with cash. I hate owing people money.

 

[ls2poweredgoat 5,000+ posts]

No.
$22,896 + $4000 = $26,896

No. The $4,000 is what brought the payment to where it's at, it's not figured in the price of the car.

...I'm pretty sure.

 

[mcsoul 10+ year member]

No. The $4,000 is what brought the payment to where it's at, it's not figured in the price of the car.
...I'm pretty sure.

They coned her good.

 

[ls2poweredgoat 5,000+ posts]

If that is a 17k car that is a bit over 10% APR - which is a bit high.
They got me for 8.4% on my VW GTI - pretty average right now.

I have gotten as low as 4.25% before.

I have a 2001 Accord EX Coupe, one of the cleanest 6th gen Accords on the road, I payed $8500 for it, put a $1,000 down, and had my dad finance it (4 year loan), because he has flawless credit.

The car had 68,000 miles on it when I bought it (now has 95,000). Car is in fantastic shape, door panels are now trashed thanks to me (but new ones are cheap, thank god).

48 x 200 = $9,600

 

[sundownz Pro Seller]

If that car was 17k and with a 4k down-payment to make it 13k... she did get an incredibly high rate.