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ok, just wondering. i priced my car (2ss with the rs option. thats it) it came to be about 34.000. my question is, what should be a good down payment? i was thinking aobut 10gs.
 

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ok, just wondering. i priced my car (2ss with the rs option. thats it) it came to be about 34.000. my question is, what should be a good down payment? i was thinking aobut 10gs.
I would put down whatever you can afford without totally draining your savings. 10k isn't bad at all.
 

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I'm sure there are many on this site who would say "$34,000." For your situation, POWERFREAK's suggestion is probably the best.
$34k would be ideal...although in most cases not realistic.;) :rolleyes: :D
 

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ok, just wondering. i priced my car (2ss with the rs option. thats it) it came to be about 34.000. my question is, what should be a good down payment? i was thinking aobut 10gs.
I always try to put down enough to get the payments down to about $300/month, that's what works for me. Figure out what the largest monthly payment is you can reasonably afford and use an auto loan calculator to play with the numbers and get the down payment that works.

Btw, my mantra is if you can't afford the down payment to get monthly payments you can afford, then don't buy a new car... but that's just me.
 

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Well another twist is if you can put your downpayment in an investment that makes more than your interest rate on the car note then finance the entire amount.

Right now with good credit you can get 4.75% at some credit unions.
 

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I got locked in at 3.75% yesterday for 60 month pre-approval at my credit union. They were having their fall loan "sales". I'm happy about it. I think we're going to finance around 19K or so. Payments will be around 365 or so. Something like that. We usually pay cars off in a bit over 3 years anyway, and the rate is for loans up to 60 months, so it doesn't matter about shortening that much. Difference between 48 month and 60 month interest is approx 1 payment.
 

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Well another twist is if you can put your downpayment in an investment that makes more than your interest rate on the car note then finance the entire amount.

Right now with good credit you can get 4.75% at some credit unions.
That is the dumbest idea in this thread :lol:
 

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I got locked in at 3.75% yesterday for 60 month pre-approval at my credit union. They were having their fall loan "sales". I'm happy about it. I think we're going to finance around 19K or so. Payments will be around 365 or so. Something like that. We usually pay cars off in a bit over 3 years anyway, and the rate is for loans up to 60 months, so it doesn't matter about shortening that much. Difference between 48 month and 60 month interest is approx 1 payment.
I admire your discipline. Of course I was looking at almost exactly the same thing and ended up going with 60 months, 'cause that extra $65 or so would cover my monthly cell phone bill :)
 

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ok, just wondering. i priced my car (2ss with the rs option. thats it) it came to be about 34.000. my question is, what should be a good down payment? i was thinking aobut 10gs.
Does that include tax and license? Or are you going to cover that separately? Most people price the car without taking these into consideration. Just a question, not an accusation. :D
 

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I was going to pay cash but lost $61,000 in the stock market:mad:
so, instead I am putting $17,000 down on a 37,500 note (minus 500 for the order down payment which rolls into the 17,000):D
Car is in the railyard in kirby texas waiting to be delivered to the dealer:(
 

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I was going to pay cash but lost $61,000 in the stock market:mad:
so, instead I am putting $17,000 down on a 37,500 note (minus 500 for the order down payment which rolls into the 17,000):D
Car is in the railyard in kirby texas waiting to be delivered to the dealer:(
Wow Lou!!! Any day now :D Excellent !!
 
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