Now isn’t that based on the fact that you didn’t own the vehicles for the full 60 months ? Id have to assume after 60 moths even at 4% at the end you would still be paying quite a bit more than you should. the way I see it, your way seems to be the only smart way to finance for that long. If you bought a car and paid it of for 5 years 1. you would have paid way over sticker in interest and 2. (depending on what it is) its probably wont be worth dick and you loose, correct me if Im wrong.
Eh, not really, because if you look at the amortization of the loan, about 1/4 of the payments in the beginning of the loan go toward interest. The longer you keep it, the better…
Beck did say his work was going to be paying for about 475 of his payment, so that would put him right around $500/mo with insurance. So as long as he didn’t lose that job, that’s essentially getting 50% of the vehicle paid for so very doubtful to go upside down on it.
Getting upside down on it will be harder is all I was saying.
If you look at it the way he is, a 50k car payment is really a 25k car payment when it comes down to his own money.
When he turns around to sell it after 2 years how much has he paid in personal finances about 10k, thus making it easier to make money when he sells it rather than owe. (This is all if the IS-F has a decent resale value, obviously if in 2 years the IS-F tanks it’s a different story)
Thanks for teaching me about financing and automobile loans. I’ve actually never had a clue what I’m doing at work and just hit numbers on a key board and hope everything works out. :uhh:
You’re taking into account that I’m financing $45k. Now you’re just assuming.
Total amount I’d finance on a $45,000 car after Tax, title, license, trade in, payoff, and money down…will be just over $26,000. I’m not just blindly buying a $45,000 car with no money down or equity in my trades. I do this everyday for other people, ten times a day.
@ 3.9% x 60 months i’m ~$479/month
@ 2.9% x 48 months i’m ~$580/month
Is it stupid to finance $26k if you make $60k? Not to mention, I’ll have it paid off within 18 - 24 months.
On front heavy amortized loans, like mortgage’s and auto loans…the first half of the loan is packed full with interest with a small amount of your payment going to the actual principle.
Doing bi-weekly half payments can reduce the amount of “effective interest” you actually pay, and it will shorten the term. However on loans with incentives (0%, 1.9%, 2.9% etc etc) it isn’t very benficial.
Meh, maybe somewhat compared to other Lexus’ or Toyota’s?
Even trucks and suv’s that tanked 90 days ago, are starting to come back up and stabilize.
The stuff that killed dealers were hybrids. Used Prius’ w/ 15k on them were going for thousands more than they were new. However, once the truck market stabilized and people got used to $4/gallon. They crashed heavily.
I just don’t really think the IS-F has proved that is can compete with its so-called “competitors” and thus resale on it will not be as high as it otherwise might be.
Other than being faster than the IS250/350, what are the differences?
You should know by now how people on here can only look at things one way.
I dont see what the problem is here that he wants this car. Has anyone actually read/watched reviews on this thing. IT IS FAST, IT IS LUXURIOUS, IT IS SPORTY, IT IS AS PIEEIMP AS HEAALL…
What 22 year old wouldn’t want one of these if it was in his means (which he says it is)
Im with ya on this one Beck… Toyota > Any other make… the fact that they are making huge power in luxury form too, is just one more reason to buy if you got it in your pocketbook.
