Descent credit -- new car???

1) What s your monthly payment ( based off interest and amount financed)

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Don't have one //content.invisioncic.com/y282845/emoticons/tongue.gif.6130eb82179565f6db8d26d6001dcd24.gif

Own both of my cars free and clear.

2) Will my honda dealer be able to give me a better rate than my cr union?---- Which at this point is 11.2%

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Possibly, never hurts to shop around though.

Your credit union can't get you a better rate than 11.2% ?? They typically have a little higher rates...but a score of 640 isn't horrible (I've seen much, much worse...640 is pretty "average") to only be able to give you a rate that high.

3) Do ppl with 72 mth loans on this car think its worth it.. ( 6 yrs is along time, especially for a civic

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If you have to stretch a loan out to 72 months in order to afford the payments, then you are purchasing a car that's beyond your financial means.

Well here s the deal .. Ive had nothing but a good credit record for the past 3-4 years, now my credit is at 640 ish ( yea i really messed up a few years ago ) And i dont want to go through my credit union for a few reasons , mainly even if my credit was 750 the lowest rate i would have is 6-7% .. I ve fully made up my mind that the si is what i want, and was wondering a few things from everyone
1) What s your monthly payment ( based off interest and amount financed)

2) Will my honda dealer be able to give me a better rate than my cr union?

---- Which at this point is 11.2%

3) Do ppl with 72 mth loans on this car think its worth it.. ( 6 yrs is along time, especially for a civic

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1. My Expy is paid off but I bought a boat and pay 170 a month..

2. 11.2% isn't bad you can always refinance, in a year or so if you have made all your payments on time.

3. 5 years is the most you want for any car..

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Your credit union can't get you a better rate than 11.2% ?? They typically have a little higher rates...but a score of 640 isn't horrible (I've seen much, much worse...640 is pretty "average") to only be able to give you a rate that high.

If you have to stretch a loan out to 72 months in order to afford the payments, then you are purchasing a car that's beyond your financial means.

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Typically, CU offer lower interest rates than that of competiting institutions because they do not pay income tax, among other reasons.

Also, x2 on the second part. I would finance a car for 3 years though.

that's not correct

Well here s the deal .. Ive had nothing but a good credit record for the past 3-4 years, now my credit is at 640 ish ( yea i really messed up a few years ago ) And i dont want to go through my credit union for a few reasons , mainly even if my credit was 750 the lowest rate i would have is 6-7% .. I ve fully made up my mind that the si is what i want, and was wondering a few things from everyone
1) What s your monthly payment ( based off interest and amount financed)

2) Will my honda dealer be able to give me a better rate than my cr union?

---- Which at this point is 11.2%

3) Do ppl with 72 mth loans on this car think its worth it.. ( 6 yrs is along time, especially for a civic

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1) ~$205 a month (I dont remember exact interest under 6% though, but amount financed was $10k)

2)When I went in to buy my truck they started me at 10% interest. I held up my $6k down payment and said I am walking unless then can get me in under 6%. They came back at 9% and I actually left the building and got to my car. The salesman stoped me and said that they can get me in where I wanted. I also use to sell cars. TRUST me. The make money off you for getting you in off a higher rate //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

3) with 72 months you will be so upside down. When you do get ready to sell it you had better have it paid off. Plus by then it wont be worth anything at all. Used cars are honestly the way to go. I have never bought a new car and wont ever.

I orginally had a number, but I think it is wrong now.

I keep getting 424.94

424.94*60=$25,496 which sounds right but I am thinking I am overthinking it

20000 / 60 = 333/month .. where did i go wrong?

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For every $1000 you finance you are looking at $20 added to the payment. For a $20k car with no downpayment you are looking at a $400 payment.

EDIT: This is a quick guess...not 100% on the dot.

How do you find out your credit score?

Yes, $424.94 is correct.

For every $1000 you finance you are looking at $20 added to the payment. For a $20k car with no downpayment you are looking at a $400 payment.

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A little more due to monthly vs annual compounding

look online for a payment calculator or an amortization(sp) table.

*edit GOOGLE rocks in less than 1 sec. I found this. http://www.edmunds.com/apps/calc/CalculatorController?mktcat=carcalculator&kw=car+payment+calculator&mktid=ga9911315

How do you find out your credit score?

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I use http://www.mycreditinform.com