** It's Killing me! **

[Andres]

I understand you can refinance for a rate as low as 3.5 to 4%. Mazda Credit is not that good hooking you up with a nice interest...

The way I see it, I would keep the MP3 lowering payments by refinancing it. That car is going to be pretty unique later on. Then save for a bigger down payment on your next car, which by that time may be a Mazda6 AWD ( ) or a nice 2nd hand EVO or STi...
From what you say by the MSP being basically a nice deal/package, I think you may be bored later on by driving the same car interior for more than 6 years if you switch from MP3 to MSP. I would target the real car of my dreams...

Just my 0.02
Later,
Andrs.

 

[nate0123]

I understand you can refinance for a rate as low as 3.5 to 4%. Mazda Credit is not that good hooking you up with a nice interest...

Maybe I got lucky (uhm)

Mazda gave me 0% for 60 months, no cosigner, and I was 20 at the time.

 

[YuYuRena]

what do you want to do with the mp3? do you want to part with it If you want a new car is feel for how much money you can get for your mp3 (considering you talked about trading it in or selling it) and calculate how much extra this is going to cost you. MSP is nice but you have most of what we have except a turbo and few other comestic things.

If you want both, I say go all motor with your mp3 and make it a track car, hehe perfect for running around circuits and stuff. And you have a daily driver as possibly msp or something else. but 3 yrs to go is still a while for payment to pay it off.

Mazda gave you the 0% apr I think is b/c of reading your info you bought a Protege ES. That's not applicable for Mazdaspeed. If you want to refinanice ask around, bank and credit union. See if you can get home equity loans, tax write off benefit, but you need a home, or a co-signor who owns a home, i.e. parents .

 

[gjmoreo]

I understand you can refinance for a rate as low as 3.5 to 4%. Mazda Credit is not that good hooking you up with a nice interest...

The way I see it, I would keep the MP3 lowering payments by refinancing it. That car is going to be pretty unique later on. Then save for a bigger down payment on your next car, which by that time may be a Mazda6 AWD ( ) or a nice 2nd hand EVO or STi...
From what you say by the MSP being basically a nice deal/package, I think you may be bored later on by driving the same car interior for more than 6 years if you switch from MP3 to MSP. I would target the real car of my dreams...

Just my 0.02
Later,
Andrs.

Yeah, If i can get a lower payment I may just do that ... I'm not sure how much the bank would reduce my rate.

 

[gjmoreo]

Maybe I got lucky (uhm)

Mazda gave me 0% for 60 months, no cosigner, and I was 20 at the time.

0% for 60 months! wow .. i have never seen a deal like that.

I have seen 0% for 3 years though.

 

[gjmoreo]

bump

 

[shinzen]

Another thought for you is to refi at the lower rate on a shorter term, keep your payments the same, but pay it off in 1 or 2 years instead of three..... call the banks!! Save some money!

 

[gjmoreo]

true, true ...

So everyone seems to agree with the fact that I should just keep it and put more money into it?

If I go turbo I will need .., exhaust, motor mounts, LSD, clutch, THE TURBO! etc.

 

[gjmoreo]

still looking @ 3500.00 easily after all that's done.

 

[BinaryRotary]

You can get 0 for 60 if you give up the rebate.

 

[hayula]

think of all the $$ you blow on essentially useless stuff (cds, smokes etc) what's the big deal with another 3 bux a day. enjoy the car!

 

[gjmoreo]

?? 3 bux a day ??

 

[daperspeed]

DSM
as a drag/fast car.
The money you'd lose trading for a MSP will be more than the cost of a used 1G DSM, getting it into the mid 12's and paying for MANY good dinners celebrating smoking LS1's/EVO's/STi's.


My next car will be 1 of those.

keep the MP3 as a daily driver.

BTW--which handles better an MP3 or MSP???
Do you know?

 

[gjmoreo]

I'd say both the same, or maybe the MSP 51% and the Mp3 49%
The MSP is supposed to have a little stiffer shocks, the shocks and springs are the same as the Mp3 (tokico, Racing beat etc.)

 

[Inspekdah]

im only 20 and i wanted the loan in my name and i got a high ass APR, they made up for it by offering me $3000 for a 95 Eclipse on its 2nd engine with 90k on it, electronics falling out under the steering wheel, and 4 horrible alloys/tires and the car plain ran HORRIBLY. I would have felt guilty selling that to someone who was in my position 2 years younger (thats when I bought it (18))...

Like I said though I got a high ass APR around 8.2%, partly because I went with 6 yr financing over 5 (save 40 bucks... figure I need it now while in school full time but can easily afford when im out for an extra year and probably would try to pay it off earlier...

How can I re-finance, it was a Mazda/Ford dealership and I financed through one of their Ford banks... when I turn 21 and get out of college my credit should be even better... Thanks for any information. I figured I signed a ammortized loan and I'm locked into paying that interested for the term of the loan.

I'm a finance major too, I should know this stuff

 

[Newf]

I was in the same boat......take a guess what I did

All in all, my payments went up about 20 bucks., my insurance about 3 bucks. Canadian remember. It Was a lot cheaper then adding a turbo myself, and now my warranty is new again.

 

[gjmoreo]

newf, you kept the mp3 though right?

 

[gjmoreo]

RIGHT?

 

[rktktpaul]

By the looks of his sig, I'd say nope - MP3 gone!

 

[LaserBlue]

Keep the mp3. Refinance it for a lower payment. Dont mod it. Keep it until published trade in value is at least 2500 more than your payoff. Sell it. Move on to the next great thing.

Debt is worse than Syphilis AIDS herpes and gonorrhea combined and it sounds like your thinking of taking on a ton.