new and have some questions..
- Thread starter juelz518
- Start date
I did $5k and I'm paying $400/month for 6 years.... but I LOVE my car, so it's worth it (cool)
MD tax tags etc was about 5 grand, so my downpayment pretty much covered everything except the car!!
You can always see if you can find something used you like from a dealership. Look on ebay or autotrader, a lot of dealers list cars on there! Even without paying insurance it gets pricey, and the mod bug will bite. I thought having boost would be enough for a while coming from a base auto RSX, I bought the car roughly a month ago and already have a spoiler extension, FMIC in the process w/ other goodies from M3M, and a Short throw shifter... No matter the car though, the mod bug will bite regardless. I say if you think you can manage go for it, the car is amazing.
Super Unique
Member
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- 2008.5 Mazdaspeed 3 Black Mica
Everything depends on your credit rating, especially right now with credit sources drying up and becoming more selective. New cars always can get a cheaper interest rate than used. One of the best places to go is your local credit union, they offer very low rates, but may be more demanding on size of downpayment etc...
You save money up front on a used car, but pay a slightly higher rate, and run the risk of still driving a car that is worn out before the payments are finished. Pick your poison well
Super Unique
Member
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- 2008.5 Mazdaspeed 3 Black Mica
exactly, you would be paying 70% of the price, with around half the usable life consumed already.
I hate to rain on your parade, but if you have limited credit you will have difficulty securing a loan, and if you do the interest rate will be high enough to push you over $400 per month.
Just think man... you are only 18. Do you plan on having a family? I have 3 kids and a wife now, and I can tell you that $9.50/hr won't take you far. I make $90,000 per year (my wife doesn't work) and once the bills are paid there isn't a whole lot left after saving for retirement. (I'm only 28).
You will be shocked once you move out, buy a house (or rent) and start racking up living expenses. You will be paying on this car most likely until you are 25. Do you plan on living at home until then?
Just think man... you are only 18. Do you plan on having a family? I have 3 kids and a wife now, and I can tell you that $9.50/hr won't take you far. I make $90,000 per year (my wife doesn't work) and once the bills are paid there isn't a whole lot left after saving for retirement. (I'm only 28).
You will be shocked once you move out, buy a house (or rent) and start racking up living expenses. You will be paying on this car most likely until you are 25. Do you plan on living at home until then?
yea i understand what ur saying..i thought about all those things aswell..but like i said early this wouldnt be for another 5-6 months..and thats if i was to do it..all of the things you listed will be taken into further consideration when i actually have the money and can say ok do i want to or not..dont get me wrong, i appreciate your in-put as everyone elses..but who knows..and the 9.50/hr isnt my career (sure you knew that tho)..we'll see..as of now the ms3 is my goal..
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Unkillable2
Member
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- Mazdaspeed 3 (True Red)
you can always join the military(not trying to promote it)!!! GREAT job secerty unless you are retarded (not trying to offend you) lol i'm 20. joined when i was 19 and only had 300 dollars in the bank. bought an brand new 08 speed 3 2 months ago! i putted 16k down and do a monthly payment of 276and 106 for insurance(spotless record, those sucka never catch me lol). i serously think putting 5k down is way too little and beside... how much credit can you possibly have? lol just sharing my story! =)
SubieKiller3
Banned
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- 2008 black mica mazdaspeed mazda 3
$312 a month, $76 a month insurance(yes, full coverage) 5.9 percent interest rate. 27 years old. decent credit. clean record.
