why on earth would you be putting down a 16g downpayment at 19? that is not very smart, however, if you have spare money to pay for monthly payments, gas, insurance, then go head. its your money.

 

i put down $13,000. $3,000 cash back

 

He would be alot better off if it were 9% as he is currently at 17.22%

 

i may have maid a mistake but right now im happy with the G. in 2012 when i finish paying the car off hopefully i can get approved for a big loan. thats my goal. my credit will be good. if i dont then i have a problem.

 

Here is what may help you out tremendously. If you have the financial mean, make double payments. Make sure the extra money goes toward the principle of the loan. If you can do this it would cut down on the amount of interest paid over the course of the loan. I did this with my last car although it was only a $15K loan for 6 years at 9.8%, I had the thing paid off in two years. Took that and got my G37s. My plan is to pay of the G in two years from now and use that to trade up to a GT-r or an M3.

The reason why this helps out alot is that the loan company makes money on the longevity of the loan along with the rate. The longer you have the loan out there the more money they make on a monthly basis. For example. Say you paid off the loan this month, they can't make any more money off of you. Now the more and more you knock down the principle of the loan the less your monthly payment goes toward the finance charges and the more goes to the principle.