in canada they want 4.9% and when you pay cash they will give you a good discount! better to pay if all off if you can. if they said 0% over 4 or 5 years i would of done it.

By next month I will officially own my Z, :hello:

Must be nice for all of you that have your cars paid off! I'm not hating OK.

I think if mine would be paid off I get the urge to get something else like a GTR.

But I have a comfortable payment and it should be paid in the next few years, so I feel fine with mine. ;)

just be happy you have one...lots of people cant even get into a car of this class! some of us payed it off and some make payments...it all about what your first priority is and how you look at it.

You took the words right out of my mouth Papo! My story is the same! I'm not hating either but maybe just a little envious. However, I wonder how many of those who have paid off their Zs use them as their only car. Not wanting to put junk miles on my Z driving 2 hours each day to and from work, not to mention living in the northeast, I have an '03 Toyota Matrix for my daily drive and I do own that car. Maybe I don't own my Z (yet), but it's an 07 with only 13,000 miles on it and in mint condition. So there is another side to "REALLY owning your Z." :tiphat:

Perfectly said Jazz, perfectly said! :tiphat:

Got it in July 2010 and paid it off yesterday. No, it's not my DD yet (1900 miles) but I'll be retired soon and then it will be my everyday car.

my daily driver is an 2002 tt 225...was my good car for years

LOL. The rest of the balance on my Z which I financed after the down payment went to tile, glue down wood flooring, and nice carpeting // installed.

Not too many flooring/contracting places that'll give you 2.99% financing over 5 years. :p

When i do pay it off, I'll be dropping a TT into it, and then (wife permitting), handing it over to the son when he's old enough to drive (and wins my trust). It's GT-R time (or comparable) then. :eekdance:

On an auto loan of $35,000.00, with an interest rate of 2.5% for 60 months, your monthly payment is $621.16. At the end of your term, you will have paid $35,000.00 in principal and $2,269.46 in interest for a total payment of $37,269.46.

A 2.5% CD with $35,000 in it will become $39.655.04 after 5yrs.

That's at the same exact rate, because the interest you pay on a loan is based on what you owe at the time, where your interest in investement compounds on itself. Compounding interest is your friend.

Personally, even taking that $35k and putting it towards my mortgage would be better for me (and probably almost everyone else as well). My mortgage is 30yr fixed at 3.75%...which is pretty damn low for a house that's not an ARM, but still higher than my car.

But over five years you had to spend $621.16 a month to make $2385.58, or about $40/month.

I'd rather have the $621.16 a month.

If you put the $35000 in a savings account at 2.5% (where can I get one?) and withdrew the $621.16 a month to pay the loan, I don't think you'd be making as much - would you even be ahead?

Added:
While I haven't use the 12C in a while (or ever, I was a TVM on the 41CX person), it looks to me like you'd have made 0.15 in your savings account at the end of five years.

If I save the $621.16 over the next five years, I end up with the same net worth, but with the flexibility of spending on something else some month's if necessary (tires?). Along the way, I bet my net worth is simlar as well.

I feel the flames coming already!

My heart exists in my right foot. 0 down, rolled in 10k of my audi... $800 a month payment. 30k base price +10k from my audi, 40k loan... Purchased the car at 29 years old. Good thing I'm an aerospace engineer, i pay around $2000 per payment per month. I always have cash for a down, but i was more interested in getting mods going :roflpuke2:

:eek:

Bought it sooner than I expected so didn't have all the funds available in checking. I do plan to pay it off in the first 3 months though. Financed 18k, going to do 6k each payment to get it don't and not waste money on interest.

borrow 29k with 3.25 for 5 year in march, interestingly I have 800+ credit score with 7 years of credit history(25 years old), could not get any loan from the big bank due to not enough credit history, got a loan from credit union. plan to pay it off in 3 year.