so i got a call from my dealer today.

somatic · 02-20-2012, 09:26 AM

Quote:

Originally Posted by UNKNOWN_370

When I negotiated my loan... that's how I got it. The rate was 17:90 per $1000 the 3 year loan was $20.9p per $1000. The difference in interest was :09 percent which was a difference of only a few bucks. The finance charge savings added up to more than the interest savings going longer if I paid double. If I would pay in the normal amount of time of a 6 year loan I would pay more, but since I'm knocking it out in half I'm paying less.
You forgot that I'm paying my 6 in 3. Ur the one being dumb because, you're making comments and not seeing the whole pic.

Some one on a 3 year loan pays a few dollars more per month in finance and marginally lesss in interest. What kills the 6 year loan is time, not rate. Interest raked marginally higher finance charges a few lower. Knock it out in half the time and you can the overages of both loans.

so what you're saying is that your bank is so retarded it actually gave you a better rate on a longer loan? thats then most bass ackward thing ive ever heard lol. if so, then go with it and take advantage of their stupidity

UNKNOWN_370 · 02-20-2012, 09:32 AM

Quote:

Originally Posted by somatic

so what you're saying is that your bank is so retarded it actually gave you a better rate on a longer loan? thats then most bass ackward thing ive ever heard lol. if so, then go with it and take advantage of their stupidity

No... god... what I'm saying is... over 6 years you pay slightly lower finance, BUT if you pay over 6 years it will be a almost couple grand more than the 3 year. If you pay a 6 year in 3 years or less. Its cheaper than taking a 3 year loan for 3 years. Make sense?

Its like you guys forgot I'm paying a 6 yr in 2.5 to 3 years vs someone who is on a 6 year for 6. Or a 3 year for 3. You put way more money to the principle and keep finance charges down. The difference in interest is so marginal that you barely save money. Its in finance charges where therres a big difference.

somatic · 02-20-2012, 09:38 AM

Quote:

Originally Posted by UNKNOWN_370

No... god... what I'm saying is... over 6 years you pay slightly lower finance, BUT if you pay over 6 years it will be a almost couple grand more than the 3 year. If you pay a 6 year in 3 years or less. Its cheaper than taking a 3 year loan for 3 years. Make sense?

Its like you guys forgot I'm paying a 6 yr in 2.5 to 3 years vs someone who is on a 6 year for 6. Or a 3 year for 3.

oooooooo i get it now

i was over thinking it lol
3 year loan paid in three years = paying all interest
6 year loan with similar interest paid off in 3 years = half the interest paid

UNKNOWN_370 · 02-20-2012, 09:49 AM

Quote:

Originally Posted by somatic

oooooooo i get it now

i was over thinking it lol
3 year loan paid in three years = paying all interest
6 year loan with similar interest paid off in 3 years = half the interest paid

Yeah... 3 year loan guy at 3 years pays 800 more than 6 year guy at 3 years.
6 year guy pays equal at 4 years to 3 year guy.
Years 5 and 6, 6 year guy begins to pay more.

Knock it out it out in 2.5 or 3 on a 6 year and pay less than both. Especialy if you make the. 2.5 deadline. Your. Second payment is totally to the principle. You save on interst, taking a long term finance and making it short term rather than paying a banks short term loan which a facad of lower payment if you do it like me. Understand?

gbrettin · 02-20-2012, 10:03 AM

Quote:

Originally Posted by UNKNOWN_370

No... god... what I'm saying is... over 6 years you pay slightly lower finance, BUT if you pay over 6 years it will be a almost couple grand more than the 3 year. If you pay a 6 year in 3 years or less. Its cheaper than taking a 3 year loan for 3 years. Make sense?
.

People totally missed the point you double up on payments. My guess is that you can make a low payment if you don't have the extra cash. On the months you are flush with cash you put a few extra thousand against the loan.

Personally I think you should hold on to your car. Drive the car while it's paid for and save the extra cash that you would be using on the payment and then trade up later.

UNKNOWN_370 · 02-20-2012, 10:08 AM

Quote:

Originally Posted by gbrettin

People totally missed the point you double up on payments. My guess is that you can make a low payment if you don't have the extra cash. On the months you are flush with cash you put a few extra thousand against the loan.

Personally I think you should hold on to your car. Drive the car while it's paid for and save the extra cash that you would be using on the payment and then trade up later.

Mustang has a way of subtle trolling and people jumping on the bandwagon. Meanwhile they are not reading everything. They are just looking to argue and insult.

I thought about it... I'm going to keep my Z. I'll just mod as planned. When I'm done paying this one I will get either a used EVO or GT-R next. If the next gen Z goes turbo I won't trade. Ill will just buy another too Z.

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