Since Official Pricing is released, what do you guys think about...

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Aug 4, 2007 | 06:40 PM

#46

muscarel

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Joined: Mar 2003

Posts: 424

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Quote:

Originally Posted by Heat

Well, I am not self-employed so it wouldnt work out as a tax break. Also, sales taxes is a write-off now. My payments are for 72 months, and I am only financing 40k. Anything over I am putting money down. I do plan on keeping this car for a while (considering I am very picky and it has taken me 3 years just to decide on which car I want) and I plan on paying it off much sooner because I hate having car payments. So buying works for me.

You do what is right for you. Like I said previously, if you drive your cars for a long time, buying is the way to go.

Just looking at your numbers though - 72 months x $675 = $48,600. So, you are paying about $8,600 in financing interest PLUS anything you are putting down. Add all that up PLUS lost interest on the money you put down and see what the total payments are. Then see how much you can get for your car (realistically) 3,4,5 or 6 years down the line. That will tell you what your total outlay is.

Aug 5, 2007 | 07:24 PM

#47

Heat

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Joined: Jun 2007

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From: DFW, TX

Quote:

Originally Posted by muscarel

Yeah, I prob wont end up paying that much in interest because I will pay it off sooner. But I just dont think that I would want to give up my car in three years. I will be modding it and I get emotionally attached to my cars too. This will be the first new car that I will be buying (I am only 22) as well so it means alot to me to be able to own a car that I will know everything about its history. Its a start. I can understand where you come from though. It isnt a bad idea to be able to drive a new car every 2-3 years.