How i've only made 1 payment in 6 months

Santent · 01-20-2010, 11:34 AM

i hate yall

6MT · 01-20-2010, 11:36 AM

Only in the USA. Wow, no wonder financial institutions got into trouble.

RavenRonnie · 01-20-2010, 11:38 AM

not to mention that if you ever wanted to trade the car in you would have to pay on it at least 3 1/2 years just to come close to breaking even... not for me!

370Zsteve · 01-20-2010, 11:38 AM

I hope you start making payments on the car soon as you are putting on lots of miles, the value is declining, and your loan is getting more under water daily.

m4a1mustang · 01-20-2010, 11:39 AM

Quote:

Originally Posted by 6MT

Only in the USA. Wow, no wonder financial institutions got into trouble.

Yeah, seriously. Holy crap.

mick · 01-20-2010, 11:43 AM

i made one payment too, first and last payment

m4a1mustang · 01-20-2010, 11:44 AM

Quote:

Originally Posted by mick

i made one payment too, first and last payment

radio5boro · 01-20-2010, 11:54 AM

Quote:

Originally Posted by mick

i made one payment too, first and last payment

i wish i had that luxury.

6MT · 01-20-2010, 12:00 PM

Quote:

Originally Posted by mick

i made one payment too, first and last payment

me too

j.arnaldo · 01-20-2010, 12:01 PM

Financial institutions have us in trouble! Except for the high risk mortgage ones, all other banking institutions manipulated Bush's govm't to "lend" them (i.e. "bail them out") $120 BILLION taxpayer dollars! Now, they're trying to avoid paying it back! As someone said: "Only in America"!

mick · 01-20-2010, 12:04 PM

Quote:

Originally Posted by radio5boro

i wish i had that luxury.

ah but if you guys had the cash to pay off a nissan, some of you probably would want a more expensive brand

for me it was a no brainer: the bank is paying me 2.35% interest rate on my money but they wanted 3.99% for a car loan. i just withdrew my money and paid off the car.

6MT · 01-20-2010, 12:09 PM

Quote:

Originally Posted by mick

ah but if you guys had the cash to pay off a nissan, some of you probably would want a more expensive brand

for me it was a no brainer: the bank is paying me 2.35% interest rate on my money but they wanted 3.99% for a car loan. i just withdrew my money and paid off the car.

Good choice. Now if only the financial institutions thought that way.

Soygen · 01-20-2010, 12:24 PM

Quote:

Originally Posted by Santent

Hopes this helps someone that might be able to pull this trick off!!!

Far be it from me to tell people how to handle their finances, but this really isn't a "deal". You're still accruing interest and it's just pushing out your payoff date while the car is losing value from when you actually started driving it. If you can't afford to make payments for a few months, you're probably better off waiting on the car and having even more money to put down on it in a few months, instead of doing this.

m4a1mustang · 01-20-2010, 12:31 PM

Quote:

Originally Posted by Soygen

Far be it from me to tell people how to handle their finances, but this really isn't a "deal". You're still accruing interest and it's just pushing out your payoff date while the car is losing value from when you actually started driving it. If you can't afford to make payments for a few months, you're probably better off waiting on the car and having even more money to put down on it in a few months, instead of doing this.

+1. And a 72 month term is pretty killer, especially at 4.75%.

Money Shot · 01-20-2010, 12:42 PM

I actually want to do the opposite of what the OP is doing as I would like to pay off the car in no more than 42 months to save some interest while having financial flexibility about 5 years down the road.

01-20-2010, 11:34 AM	#1 (permalink)
Santent Base Member Join Date: Jun 2009 Location: Ft. Worth, TX Posts: 79 Drives: 09 Mont Blue 370z Rep Power: 15	How i've only made 1 payment in 6 months i hate yall __________________ Tickets are on sale for the QQ train, im in first class, where's your a$$? Last edited by Santent; 01-21-2010 at 07:55 AM.

01-20-2010, 11:36 AM	#2 (permalink)
6MT A True Z Fanatic Join Date: May 2009 Location: ITU Zone 2 Posts: 22,459 Drives: Reliant Robin Rep Power: 1789	Only in the USA. Wow, no wonder financial institutions got into trouble. __________________ Andrew 2009 370Z Sport/Touring 6MT sold 2013 Honda Civic Si coupe D/D

01-20-2010, 11:38 AM	#3 (permalink)
RavenRonnie Base Member Join Date: Jan 2010 Location: La Vergne, TN Posts: 38 Drives: 2010 370z M6 w/sport Rep Power: 15	not to mention that if you ever wanted to trade the car in you would have to pay on it at least 3 1/2 years just to come close to breaking even... not for me! __________________ 2010 Base w/Sport Pkg 6sp man

01-20-2010, 11:38 AM	#4 (permalink)
370Zsteve A True Z Fanatic Join Date: Sep 2009 Location: Gold Coast CT Posts: 10,599 Drives: 2019 Corvette G.S. Rep Power: 42	I hope you start making payments on the car soon as you are putting on lots of miles, the value is declining, and your loan is getting more under water daily. __________________ SOLD MY Z MARCH 2018 - another Core OG moves on - new ride 2019 Z Corvette Grand Sport - no mods necessary but already have eyes on HFC and intakes LOL IT NEVER ENDS.

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01-20-2010, 11:43 AM	#6 (permalink)
mick Track Member Join Date: Jan 2010 Location: California Posts: 903 Drives: Used to drive a 370z Rep Power: 16	i made one payment too, first and last payment

01-20-2010, 12:01 PM	#10 (permalink)
j.arnaldo Banned Join Date: Oct 2009 Location: Puerto Rico Posts: 937 Drives: Nissan 350Z, 2004 Rep Power: 0	Financial institutions have us in trouble! Except for the high risk mortgage ones, all other banking institutions manipulated Bush's govm't to "lend" them (i.e. "bail them out") $120 BILLION taxpayer dollars! Now, they're trying to avoid paying it back! As someone said: "Only in America"!

01-20-2010, 12:42 PM	#15 (permalink)
Money Shot Base Member Join Date: Feb 2009 Location: Bay Area Posts: 18 Drives: Z Rep Power: 16	I actually want to do the opposite of what the OP is doing as I would like to pay off the car in no more than 42 months to save some interest while having financial flexibility about 5 years down the road.