Screwed or not?
2010 8 GT Loaded minus Navigation.
6Spd. I paid $22800 for it. It has 3600 miles and only has 1 defect a small 1/4th in wide 1/8th tall chip in the plastic surround of the 6disc changer. It still has 33k and 15 months on the warranty. |
Id say that not bad
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Insurance is going to be $1500/6months Payments are $460/month
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Originally Posted by necrogami
(Post 4247972)
Insurance is going to be $1500/6months Payments are $460/month
If so, at $22800 financed, your interest rate seems a little high. Have you tried getting pre-approved somewhere first (besides at the dealer) to see what rate you qualify for?? & $1500/6 mos on insurance seems quite high. To me, anyway. I'm only 23 & mine is much less. |
Originally Posted by necrogami
(Post 4247899)
2010 8 GT Loaded minus Navigation.
6Spd. I paid $22800 for it. It has 3600 miles and only has 1 defect a small 1/4th in wide 1/8th tall chip in the plastic surround of the 6disc changer. It still has 33k and 15 months on the warranty.
Originally Posted by necrogami
(Post 4247972)
Insurance is going to be $1500/6months Payments are $460/month
The price of the car is okay. But, the payments on the monthly and insurance is too high. You need to do some searching for cheaper rates, or you'll regret paying those payments. |
Yea payments and insurance price is nuts.
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Originally Posted by necrogami
(Post 4247972)
Insurance is going to be $1500/6months Payments are $460/month
If all of those things suck (you have 2 accidents, 3 tickets, you live in Detroit, and you have a 615 credit score), then that's what you should be paying. If you have a clean record, you live in a nice sleepy suburb of Georgia, and your credit score is 782, then you are paying way too much. BC. |
1 Accident, 3 Tickets and Indiana... Credit Score of 716 .. No history of Loans so most weren't willing to give me a loan .. this was the only place i could find that would give me a loan for the car. Without a co-signer.
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Originally Posted by necrogami
(Post 4248313)
1 Accident, 3 Tickets and Indiana... Credit Score of 716 .. No history of Loans so most weren't willing to give me a loan .. this was the only place i could find that would give me a loan for the car. Without a co-signer.
I guess that's not so bad. Kind of mediocre. That insurance payment still seems crazy to me. Congrats on getting the car! & your first car loan @ over $20k w/out a cosigner is very good!! |
Originally Posted by necrogami
(Post 4248313)
1 Accident, 3 Tickets and Indiana... Credit Score of 716 .. No history of Loans so most weren't willing to give me a loan .. this was the only place i could find that would give me a loan for the car. Without a co-signer.
What is the APR of your loan, anyway? About 5 to 7 %? Shop around at a couple of credit unions to see if you can get a better rate. BC. |
Not horrible, Pay on it for a year and then you shoudl be able to refinance for a much better rate.
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Yeah that's the plan Also come fall 2 of my tickets roll off and ill have 1 ticket and 1 accident on my record. Also APR si 9.3% .. bleh
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holy shit 9.3%?
7 years ago i dont have much credit i got 6.9. .. u got ripped, well, u should have got an auto loan before u go into dealership. remeber that next time |
9.3%?
Holy Crap, dude, that's highway robbery. Either start searching for a new company to refinance it for you, or pay for 3 months, and then refinance. You shouldn't be paying that much interest, even if you never had a credit history before, that's ridiculous. BC. |
:lol:
9.3% isn't really robbery. My first car getting financed at 19.9% interest WAS. :) (I was young, dumb, etc...) |
Originally Posted by RIWWP
(Post 4251671)
:lol:
9.3% isn't really robbery. My first car getting financed at 19.9% interest WAS. :) (I was young, dumb, etc...) wtf how could u sign something with 19.9 % apr. ... its not credit card dude. lol |
I think I answered that question in the post you quoted :)
I learned quite a lot, the very very hard way with that. |
a lot of people have to start their credit out with a high interest loan, unless you get a solid cosigner to help you out.
9.3% is really not that bad for a first car loan, but with his score being in the 700s, it is kinda high. You have to establish credit somehow. |
i mean...does it have vtec?
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Price is solid. Rate sucks. Insurance is what it is.
What color 8? |
5 Attachment(s)
Some photos of the car.
In the interior shot. Between the Head Unit and The Drivers Side Vent there is a nick in the plastic. That is the only defect on the whole car. |
Originally Posted by elle
(Post 4248567)
If you've had no loans how did you get a 716? Just a couple credit cards? Still, interest rates are based off scores, you should've got a better rate. What is it, 7.9%?
I guess that's not so bad. Kind of mediocre. That insurance payment still seems crazy to me. Congrats on getting the car! & your first car loan @ over $20k w/out a cosigner is very good!! |
Originally Posted by Spectre722
(Post 4258302)
I'm not so sure about that. My credit score is nearly 750 and I've never taken a loan. By the time I was 22 my credit score was 730. It's possible if you have a credit card and keep good payment histories with the companies you pay bills too.
Yes, you will have a good score if you have at least one credit card w/ a low balance, in relation to the limit, & on time payment history; even if you have had no other loans, & assuming that there are no defaulted or charged-off accounts reporting. |
Originally Posted by elle
(Post 4258379)
Utility companies & such don't report to credit bureaus unless you screw up(unsure if that is what you were referring to).
Yes, you will have a good score if you have at least one credit card w/ a low balance, in relation to the limit, & on time payment history; even if you have had no other loans, & assuming that there are no defaulted or charged-off accounts reporting. |
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