necrogami

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.

stinksause

iTrader: (5)

Id say that not bad

necrogami

Insurance is going to be $1500/6months Payments are $460/month

elle

How long are you financing it? 60 mos?
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.

monchie

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.

xexok

Yea payments and insurance price is nuts.

Bladecutter

Well, before we assume this is too much money, how about you let us know how many accidents and tickets you have on your recent driving record, along with where you live, and what your credit score is.

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.

necrogami

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.

elle

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!!

Bladecutter

So I was pretty much spot on.

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.

9krpmrx8

iTrader: (46)

Not horrible, Pay on it for a year and then you shoudl be able to refinance for a much better rate.

necrogami

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

nycgps

iTrader: (1)

holy **** 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

Bladecutter

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.

RIWWP

iTrader: (2)

9.3% isn't really robbery. My first car getting financed at 19.9% interest WAS. (I was young, dumb, etc...)

nycgps

iTrader: (1)

i lost all my respect to u dude rofl

wtf how could u sign something with 19.9 % apr. ... its not credit card dude. lol

RIWWP

iTrader: (2)

I think I answered that question in the post you quoted

I learned quite a lot, the very very hard way with that.

elle

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.

Jake33

iTrader: (2)

i mean...does it have vtec?

Are-Ex-Eight

iTrader: (1)

Price is solid. Rate sucks. Insurance is what it is.

What color 8?

necrogami

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.

Spectre722

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.

elle

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.

Spectre722

I'm aware that utility companies don't report anything to credit bureaus unless bills charge off.(I work for an electric utility company) Most people don't even know that though so props to you.