Payment ?
Le Mans Master
Joined: Jul 2003
Posts: 8,455
Likes: 1
From: Offical CFOT MustangChick Texas
hate to tell you, but you're not going to get much of a response to a thread like this. at least not here.. and for a number of reasons.
the first of which is many of the people here paid cash. ergo, one payment.. ALL of it.
beyond that, "payments" really aren't representative, for comparison purposes, of anything.
how much your trade-in was valued at...
how much cash you put down..
what the taxes/fees are in your state/locality...
the final negotiated cost of the car...
the interest rate/time financed for the note...
whether you buy/lease/smartbuy...
ALL affect what your "payment" would be. in other words, me simply replying and saying, "oh i pay $XXX/month" gives you absolutely NO useful purchasing information.
Good luck on your purchase and make sure you post pics when you get it... we love to see happy new owners!
the first of which is many of the people here paid cash. ergo, one payment.. ALL of it.
beyond that, "payments" really aren't representative, for comparison purposes, of anything.
how much your trade-in was valued at...
how much cash you put down..
what the taxes/fees are in your state/locality...
the final negotiated cost of the car...
the interest rate/time financed for the note...
whether you buy/lease/smartbuy...
ALL affect what your "payment" would be. in other words, me simply replying and saying, "oh i pay $XXX/month" gives you absolutely NO useful purchasing information.
Good luck on your purchase and make sure you post pics when you get it... we love to see happy new owners!
Burning Brakes
Joined: Apr 2005
Posts: 944
Likes: 2
From: Greater Detroit MI
Originally Posted by Violet
hate to tell you, but you're not going to get much of a response to a thread like this. at least not here.. and for a number of reasons.
the first of which is many of the people here paid cash. ergo, one payment.. ALL of it.
beyond that, "payments" really aren't representative, for comparison purposes, of anything.
how much your trade-in was valued at...
how much cash you put down..
what the taxes/fees are in your state/locality...
the final negotiated cost of the car...
the interest rate/time financed for the note...
whether you buy/lease/smartbuy...
ALL affect what your "payment" would be. in other words, me simply replying and saying, "oh i pay $XXX/month" gives you absolutely NO useful purchasing information.
Good luck on your purchase and make sure you post pics when you get it... we love to see happy new owners!
the first of which is many of the people here paid cash. ergo, one payment.. ALL of it.
beyond that, "payments" really aren't representative, for comparison purposes, of anything.
how much your trade-in was valued at...
how much cash you put down..
what the taxes/fees are in your state/locality...
the final negotiated cost of the car...
the interest rate/time financed for the note...
whether you buy/lease/smartbuy...
ALL affect what your "payment" would be. in other words, me simply replying and saying, "oh i pay $XXX/month" gives you absolutely NO useful purchasing information.
Good luck on your purchase and make sure you post pics when you get it... we love to see happy new owners!
Race Director
Joined: May 2003
Posts: 13,507
Likes: 0
From: Beer. The cause of and solution to - all of lifes problems
St. Jude Donor '09
Originally Posted by C6Matt
Also you would need to know how many months... and if there was an extended warrenty or anything else financed with the car... go to a dealer, they will be more than happy to work out an expected payment for your situation...also look at any car auction on ebay, they have a neat little payment calculator that works pretty well..
I have excellent credit and received a .00194 (about 4.5%) for money factor and my purchase price was $47049 plus taxes and license - I think the residual was like $23220.
I could've paid cash but I can make more money with it vs having it tied up in my vehicle. I tend to like to trade in every couple years anyway.
Hope this helps.
Last edited by Wicked_C6; Jun 14, 2005 at 02:38 PM.
Drifting
Joined: May 2005
Posts: 1,476
Likes: 0
From: San Diego CA
GM has a loan calculator on their website, as do most banks. I know almost all of the credit unions have them on their website.
You key in the out the door price of the car, your down payment, trade in if you had one, and loan percentage. It then spits out loan payments for 36 48 60 or 72 months.
Nice tool
You key in the out the door price of the car, your down payment, trade in if you had one, and loan percentage. It then spits out loan payments for 36 48 60 or 72 months.
Nice tool
Race Director
Joined: May 2005
Posts: 13,787
Likes: 0
From: . [Rotorhead] "You seem to be a douche. What I'm getting at is just STFU" [/Rotorhead]
St. Jude Donor '06 & '09 & '11
When leasing, the nunber of miles per year is also relevant as it affects the residual value.
Melting Slicks
Joined: Mar 2005
Posts: 2,838
Likes: 0
From: Buena Park, CA I seem to have left my electrolytes with your daughter
I answer your question:
Financed somewhere around 16K of the car for 24mos at 4.3% (not sure about that %) and am paying $706.28/mo....gets pulled directly out of a slush slavings account.
Financed somewhere around 16K of the car for 24mos at 4.3% (not sure about that %) and am paying $706.28/mo....gets pulled directly out of a slush slavings account.
Instructor
Joined: Nov 2004
Posts: 192
Likes: 0
From: I want to be on loiq's Buddy List!
I would go to http://www.bankrate.com/brm/calculators/autos.asp
and work numbers based on your scenario.
and work numbers based on your scenario.
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Team Owner
Joined: May 2004
Posts: 82,175
Likes: 1,319
From: McKinney TX
St. Jude Donor '21-'22-'23-'24
Originally Posted by ridinls1
Was about to get a c6 and was wondering for those who already got one how much are your payments if you don't mind wiht the lease and smart buy. Wondering if there are any deals out there
I didn't pay cash for mine, but made a down payment and had a trade-in, so I've got my balance financed at 3.9% through my credit union.
Intermediate
Joined: Apr 2005
Posts: 48
Likes: 0
From: cincinnati ohio
Two ways to look at it
There are two different things to consider when making a major purchase. The first is what is your true cost to own the car. You buy it for a price and a few years later you sell it for a lesser amount. the difference is your true cost of ownership. No matter how you pay for it, the change in value is your real cost. Now many people have assets that have gone up in value a great deal in the last few years (real estate). If you get a line of credit that is less than prime and you pay interest only, you can drive a $64,000 vette for less than $300 per month cash flow. Plus you may be able to write off the interest.
If you have good discipline with your assets and cash flow--owning a vette is not that much of a problem. Interest only @ 4.5 % interest is $240 per month--Finance it for 5 years and your payment is $1,193 on $64,000.
Most people confuse cash flow and the true cost of a car. I borrow my money as cheap as I can. It is the same as buying the car for the cheapest price. Remember what the true cost is-- purchase price minus selling price --not the payment. Many buyers of new cars are upside down as soon as they leave the dealer --they owe more than the car is worth.
If you have good discipline with your assets and cash flow--owning a vette is not that much of a problem. Interest only @ 4.5 % interest is $240 per month--Finance it for 5 years and your payment is $1,193 on $64,000.
Most people confuse cash flow and the true cost of a car. I borrow my money as cheap as I can. It is the same as buying the car for the cheapest price. Remember what the true cost is-- purchase price minus selling price --not the payment. Many buyers of new cars are upside down as soon as they leave the dealer --they owe more than the car is worth.
Instructor
Joined: Apr 2005
Posts: 191
Likes: 0
From: Altamonte Springs/Tampa Bay Florida
Actually bought the car in Canada. Through Landmark Leasing, it works out to $11K down, $1280.00 a month for 60 months, $17k buy out at the end. Not too bad considering the car is $83K CDN on the road. This was a Lease/Purchase as opposed to a lease/trade in. Chances are if you go with the later, the buyout gets ballooned and the payments are smaller per month. If you do that, you wind up in the "Upside Down" mode.......the car is worth less than the buyout. The prices are in Cdn dollars which why many of you might think its a high payment.
Instructor
Joined: Dec 2004
Posts: 244
Likes: 0
From: Sunnvyale CA
Here is what I can get in CA....
Credit Score over 720
36 months/12k miles
49500 cost (MSRP-3500)
5.x interest
52-54% residual
min cash out (1500 I think it will be)
good income to dept ratio (for example my all my costs are less than 50% of my monthly gross income)
Most will allow car to be 20% of gross income but I prefer to stay under 10%
750-820/month is what I am looking at with taxes.
36 months/12k miles
49500 cost (MSRP-3500)
5.x interest
52-54% residual
min cash out (1500 I think it will be)
good income to dept ratio (for example my all my costs are less than 50% of my monthly gross income)
Most will allow car to be 20% of gross income but I prefer to stay under 10%
750-820/month is what I am looking at with taxes.
