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

dmhenderson · 04-02-2013, 10:46 PM

oh OH! You're going from a 6 to a 5? I thought you were going from a 5 to a 6. As long as you're ok with higher payments, you will save money over time. If you've been making extra payments, this may not be a factor at all which makes sense.

Auto loans have a huge APR jump from 5-6 years (oddly enough, not from 3-5 though). Your payments will be higher over 5 years but the interest payments will be much less.

MyKindaGuise · 04-02-2013, 10:51 PM

Quote:

Originally Posted by dmhenderson

oh OH! You're going from a 6 to a 5? I thought you were going from a 5 to a 6. As long as you're ok with higher payments, you will save money over time. If you've been making extra payments, this may not be a factor at all which makes sense.

Auto loans have a huge APR jump from 5-6 years (oddly enough, not from 3-5 though). Your payments will be higher over 5 years but the interest payments will be much less.

Yes this is exactly it. im going for less payments technically. it just works out taht id be at 60months of payments either way the drop from 5%apr to 2.5%apr will be helping not hurting

dmhenderson · 04-02-2013, 10:58 PM

Quote:

Originally Posted by MyKindaGuise

Yes this is exactly it. im going for less payments technically. it just works out taht id be at 60months of payments either way the drop from 5%apr to 2.5%apr will be helping not hurting

Yeah disregard what I PM'ed you. This makes sense. I thought you were stretching the loan to lower payment amounts. Sorry, it's late.

aniceh · 04-02-2013, 11:15 PM

Quote:

Originally Posted by MyKindaGuise

Yes this is exactly it. im going for less payments technically. it just works out taht id be at 60months of payments either way the drop from 5%apr to 2.5%apr will be helping not hurting

Damn, Cody gots this!

dmhenderson · 04-02-2013, 11:18 PM

Quote:

Originally Posted by aniceh

Damn, Cody gots this!

The APR drop from 6 years to 1-5 years is enormous. He's right.

04-02-2013, 10:46 PM	#1 (permalink)
dmhenderson A True Z Fanatic Join Date: Feb 2011 Location: Maryland Posts: 5,930 Drives: AWD TT 370z Rep Power: 27	oh OH! You're going from a 6 to a 5? I thought you were going from a 5 to a 6. As long as you're ok with higher payments, you will save money over time. If you've been making extra payments, this may not be a factor at all which makes sense. Auto loans have a huge APR jump from 5-6 years (oddly enough, not from 3-5 though). Your payments will be higher over 5 years but the interest payments will be much less. __________________

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