Anyone doing Carlisle this spring? P&S and/or Import & Kit Nationals?

dmhenderson · 04-02-2013, 10:07 PM

The ONLY way you'll end up paying less in the long run is if you get a lower rate over the same period of time. If that's not the case, you're getting scammed.
Tell you what, run the numbers yourself:

1) Take your original loan with original payment amount and run it for the course of the lien - pay special attention to the time it takes to pay it off. Now add up the interest payments you're making vs principle.

2) Now take the re-fi lower payment and run it for the course of the lien and do the interest vs principle thing again.

I would be shocked if 2) was less than 1)

****DO NOT FORGET THE MONEY YOU HAVE ALREADY PAID INTO YOUR ORIGINAL LOAN (excluding down payment)***
If you really want to save yourself money, make extra car payments and pay it off early.

MyKindaGuise · 04-02-2013, 10:09 PM

Quote:

Originally Posted by dmhenderson

The ONLY way you'll end up paying less in the long run is if you get a lower rate over the same period of time. If that's not the case, you're getting scammed.

OK.

04-02-2013, 10:07 PM	#1 (permalink)
dmhenderson A True Z Fanatic Join Date: Feb 2011 Location: Maryland Posts: 5,930 Drives: AWD TT 370z Rep Power: 28	The ONLY way you'll end up paying less in the long run is if you get a lower rate over the same period of time. If that's not the case, you're getting scammed. Tell you what, run the numbers yourself: 1) Take your original loan with original payment amount and run it for the course of the lien - pay special attention to the time it takes to pay it off. Now add up the interest payments you're making vs principle. 2) Now take the re-fi lower payment and run it for the course of the lien and do the interest vs principle thing again. I would be shocked if 2) was less than 1) **DO NOT FORGET THE MONEY YOU HAVE ALREADY PAID INTO YOUR ORIGINAL LOAN (excluding down payment)* If you really want to save yourself money, make extra car payments and pay it off early. __________________ Last edited by dmhenderson; 04-02-2013 at 10:15 PM.

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Forged Performance: Import Alliance Spring Meet Coverage	ChadB@Forged	Member's 370Z Gallery	0	04-24-2012 01:08 PM
Anyone going to Spring break Nationals?	RonRizz	Audio & Video	8	03-10-2012 07:40 PM
1st Annual East Coast Z Nationals -Carlisle, PA - May 22-23	Quidproquo	North East Region	5	05-19-2010 08:28 AM
East Coast Z Nationals-Carlisle, Pennsylvania	Pats300zx	North East Region	9	04-22-2010 06:41 PM
Spring Break Nationals 2010	ohmanitsmason	The Lounge (Off Topic)	1	02-18-2010 07:27 PM