Hey whats going on everyone? I currently have a 2G TL. Ill be leaving to Afghanistan soon and ill be leaving the 2G to my sister. When i get back i plan on getting a 3G Type S. What would be a good down payment for the car? My sister will be keeping the 2G.

 

a good down payment? the full price of the car. lol jk. im not good with this business stuff so i buy my car in full, i dont like owing money.

 

Haha if i had the money i would buy the car in full. Unfortunately the military doesn't pay me enough. haha

 

Well, have you done the basics?
whats your budget? how much are you willing to spend on a car.
how are you going to finance the car?
etc etc etc etc etc...

if you dont know these basic steps, I suggest you should research and learn on what steps need to be taken before buying a car.
we shouldnt have to do this for you. its your homework.

 

Fixored!!

 

put down as much as u can ... ideally u should put down enough where the amount of interest u pay at the end of the loan is less than the amount of money u can make by investing the money u didnt put down at the beginning

numbers would be best to show u what i mean

car is 20k

u put 15k down for example

5k left on loan

if on that 5k interest is say 1k

somehow invest 5k and make more than 1k

then u played it smart IMO

 

If you need to borrow money to buy the car think 24-36 month loan. You don't want to be still making payments on a car that is 8-12 years old.

Try to put down at least 50%. With "combat pay", you should be able to put away a few extra bucks.

 

I seen the TL-s I want on autotrader. but there different prices. It all depends on which ones are still there when I get back. The max spend is 25k because i dont want to be paying for the car forever.

 

the next step would be to talk to a bank or a credit union to see if they would loan you *at max 25k*
do you have good credit?

 

Hopefully i can find a bank with not too high of an interest rate.

 

^that all depends on your credit score.

 

Got ya. I should be good when i get back then.

 

3G TL-S 6MT for the win.

 

Thats exactly what it is. With the Navi. When i got my TL i was looking for a 6MT. I was mad when i found out that 2G didnt exist in MT. So i bought it. 3 days later i found out about this site and i discovered the 03 CL 6MT. I was so mad. Im still mad till this day.

 

If your max is $25k, you should have no problem finding a 07 TL-S. I've been seeing some for around $20k give or take $2-$3K. I initially put down $3500 when I bought my car and it put the interest rate at 7.9%. My bank brought it down to 4.8% after reworking it, still not that great but better. Obviously the more you put down the better, but my guess is $5k+ would be a good down payment.

Thanks for your service by the way & stay safe!

 

We do, what we do for the people we never knew. lol i hope that makes sense.

 

Credit union, such as Navy Federal should give you a good rate. Keep your head down over there and thanks for your service. Retired Navy myself.

 

i put down $8k cash and financed the remaining $16k at 4.3% for the next 60 months. payments are under $300 a month.

i'm going to try and refinance soon tho, the girlfriend just got promoted to an FSR (loan officer) at the bank.

good luck to you OP. try and get your interest rate down as low as possible. don't settle for what the dealership offers, check around first.

 

+1 on Navy Federal. When I got my TL (about a year ago), I got a better deal through a local finance company than I could with NFCU at the time. A few months later, I checked the rates again and noticed they dropped. NFCU has a '2nd Chance Auto Loan' program where they'll take over the financing. I ended up lowering my payment around $25/mo and my interest rate slightly.

(I could've lowered my interest rate a lot more, but I need the lower payment for the immediate future... when I can I'll just end up paying extra towards the payments).


Anyway, good luck, and thanks for helping protect our country

 

I was recommended to Pentagon Federal Credit Union on this forum. HIGHLY recommended!! Excellent customer service and hands down the best rate I have ever seen on a used car. Its currently at 2.49% and its not based on your credit. Either you get approved or you dont and if you do its 2.49%.
As others have said its always best to put down as much as you comfortably can, but at the same time you dont want to empty out your bank account either. With such a low interest rate I would go too crazy with the down payment. Get yourself started with a nice comfy loan, then as you want you can always apply more money to each payment.

James

 

thats's whats up