[Z06] 84 month loan-best place
01-29-2008, 07:57 PM
#41
Burning Brakes
Member Since: May 2006
Location: Woodbridge Virginia
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01-30-2008, 07:08 AM
#42
Safety Car
I bought a 2006 Focus with 54K miles on it for my daughter for $2500 from our local Ford dealer, we actually traded it in to the dealer from my business for what we owed on it and then bought it back personally for $2500.
Of course this was well under the $6500 trade in allowance I got for it when I traded it for a 2007 Mustang GT at another dealership.
Four weeks later the state demanded about $400 in sales tax due to the stated value of $10,000 compared to the $2500 purchase price.
Needless to say, even with legal paperwork I didn't fight it and paid the $400.
****AS FOR 84 month financing*****
I just traded my 2007 Z06 in and bought a Porsche 911 Targa.
I financed the car through Chase for 4.89% for 72 months
Rates are going to go even lower, but this gives you an idea of what you can expect.
Howard
01-30-2008, 03:16 PM
#43
Burning Brakes
Member Since: Apr 2005
Location: River Vale, NJ & Ft. Myers, FL
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St. Jude Donor '09-'10
i am not the most humble guy in the world obviously, i drive a vett lol, but i am always open to advice, maybe i should reconsider, i plan to put a little down, get the payment as low as possible and pay a little more each month than my monthly payment requires so that around 30 months from now, i will not be more than 5000 upside down, at which point, my gm card will have some earnings on it again, and i might only be 3000 upside down after figuring those earnings in-
Assume you can get a 2008 $78,000 Z06 for $75,000, including fees and tax. If you put down $10,000 and financed $65,000 at 7% over 84 months, your payment would be $981.02 per month. At the end of 30 months, you would still owe $45,330.53--which is 58% of the original MSRP. I've had mine for about 27 months and I think I could still get at least $50,000 and my MSRP was $70,300--about 71%. So I don't think you'll be upside down at all.
