azzkikr19tl

hey just wanted 2 make a thread to see how many people have financed or leased their car, and if they have paid it off or still oweing moneyyyy come on in and post your situation ( i owe another 7grand) stressssfullll

lights

iTrader: (1)

what year is your TL? $7000 is nothing man....you must have put a real big down payment eh.

Delta Nomad

06 TL MT with 23K miles. Paid cash for it, baller style.















Feels good man.

azzkikr19tl

my tls a 04 i only put 3 grand down i paid 18,000 altogether with 3 year warrenty 100k

boomersooner02000

'06 w/nav paid cash.

WRXtranceformed

7 grand left isn't bad, I think I still owe like $22k :P

azzkikr19tl

ahha yeah i guess that aint to bad , damn 22k left . i would b working my ass off for a while to pay tht off

Rugel

I got 06 A spec TL and I still owe $9500 which I will pay it off this year. I'm looking to get 08 TL Type S..not sure if I want to do it.

D's Up

I think I got about 2-3 years left of payments. $300 a month, and I make probably $500 a month after taxes. Sooner I pay it off, the better. Time to hop into something with a manual transmission. maybe a RSX type-s.

JOSER408

i got a 04 and still ow 14k

Oswald Vater

36 month lease on 08/Navi. Zero down and $450/month payment. 11 months left to decide if I buy it or trade it.

lusid

13k left.

LaCostaRacer

3 years @ 2.99% in 2006- paid off early and now just saving $400+ a month towards the next car or repairs. My car runs and looks like new and I have no intentions on another car for some time. Meanwhile the savings account is increasing rapidly. The 2.99% was too sweet to pass up in 06 and that was the only reason for taking a loan in the first place. I like to buy cars with cash usually.

VQPower37

i have an 07 tl-s ... paid cash for it

Souljah

finance

D's Up

how would I go about selling a car that I'm currently making payments on (to the bank)? Is this even possible?

Jiggy2dmax

iTrader: (1)

Very possible although a bit more legwork. Essentially, when you find a buyer and you guys agree on a price you pay the bank off, get the title and give it to the new owner. Suffice to say buyer will have to be patient as it would take a few weeks to complete everything.

I'm sure theres more details but overall thats usually the process. I'm sure it varies depending on the bank though.

as for this thread... Tl is paid for

cjTL

iTrader: (2)

Dad paid for the car in cash upfront when he bought it. And for that I am thankful.

azzkikr19tl

lucky lucky haha

bigBLACKTL

paid off in cash, was a graduation present back in 06!

MpegtwoTL

Paid cash. Why would you finance a $33,000 car? If you can't afford it don't buy it. Make a logical choice. I find it odd that so many people pay $550+ per month on cars under $35k. Some guy posted that he makes $500 per month and pays a $300 car payment. Does that make any reasonable financial sense whatsoever?

Whatever it takes to drive a nice car i guess.

boomersooner02000

My guess would be a lot people do not want to take the time to save the money to buy the car they want. Thankfully I was raised if you dont have the cash for it then you cant afford it. Obviously buying a home is different but for a small purchase like a car cash is always the best option.

cjTL

iTrader: (2)

Not many people have $30K+ sitting in the bank at their disposal. I'm sure many people who do are also afraid of the depreciation loss they'll take the second they drive off the lot.

Roger555

iTrader: (3)

Even if I had the cash to buy a car out right I would still probably just put a good chunk down and finance the rest just incase to keep some of my money liquid. Unless I was really balling and had more then enough to buy a car cash and have money in the bank. I put 6,000 down on my 19,000 TL and I make around 4,000 a month before taxes I should be fine but i'm nervous I have never had a car payment. I really don't think you can say someone cant afford a car unless they have the cash in hand to buy it. Big purchases like this are not meant to necessarily be purchased outright. I'm an engineer and work in manufacturing, our company doesn't always purchase new equipment outright because it just doesn't always make financial sense.

MR1

All good points. Amazing so many try to judge everone else and tell them how to conduct their business. Personal circumstances vary, there is no one best solution.

Jiggy2dmax

iTrader: (1)

In the last year or so, financing deals have been pretty good. It would make more sense to invest 33k and pay 0.9 interest for a year than to buy the car cash. Even if your getting 2% on at your bank, you still made out in the end.

I personally had the cash to buy my care upfront, however I choose to take advantage of the 0.9 financing. I reinvested in my business with the rest of the cash and at the end of the the 1st year paid of the car in full and made about 10k using the money I would have paid for the car.

For the year, I paid a total of 257.37 in interest. This is just my case but just to prove a point that you cant lump everyone into the same circumstances.

LaCostaRacer

^ agreed. But for every person like Jiggy and MpegtwoTL, there are 10 other people buying a car that they probably shouldn't buy just because they can make the payments (assuming they always have a job). The problem is if they lose the job they will quickly need to 'downgrade' because they really can't afford the car in the first place. People shouldn't sacrifice reasonable 401K contributions or rainy day savings just to own a TL or any other nice car. If they're doing that, they can't afford the TL.

The nice thing about being a cash buyer is sales price and options is everything and it doesn't get muddied with residual values and payments. The other nice thing is cash buyers tend to keep their cars longer and they save a ton in sales tax, depreciation and other expenses over the years.

princelybug

iTrader: (16)

I financed my purchase at 3.9% for 3 years, and that was in Nov. '06. So I've been payment free since Dec. '09.

MpegtwoTL

Sorry if I offended everyone. Good points in the above posts.

MpegtwoTL

There are always better more sensible solutions.

D's Up

haha I was the guy who posted that I make around $500 a month. The thing is, (fortunately) my dad makes the car payments for me. . However, this ain't a free ride gentleman. I still have a pretty little $900 insurance coming out of my own pocket every 6 months. . But in essence, I make payments on my insurance too. Every two weeks, my employer pays me. And every two weeks, I give my father $75. 2 checks a month = $150. $150x6 = $900. $900 = Insurance payment! . The rest of each check is split up into 2 categories; savings and on hand money. Hey, I gotta' get it done somehow right. Might as well learn to budget while I'm young and I have parents to fall back on/learn from if I mess up.

BTW, someone offered to pick up my TL with 101k on it for $11k. If that happens, I've got my eyes on a nice (yet still salvage titled) '05 SSM RSX Type-S. Lowered on tein springs with a Greddy Evo-2 exhaust. 55,xxx miles for $8,500. Oh the joy. lol

Jiggy2dmax

iTrader: (1)

Your father's a smart man learning those lessons at a young age really is asset to yourself.