You know my story....
- Thread starter jamesA
- Start date
- Replies 47
- Views 2K
We may earn a small commission from affiliate links and paid advertisements. Terms
94RedSiGal
Senior Member
Yup. But he got such a good price on his new car and then the financing package on it was really good too.... that overall, he was happy with the deal. But yeah that sucks. I wish that I could have been standing next to him at the dealership with $7500 in cash to do a quick trade for the title to his old SiR. That was one sweet car, but the dealership wasn't too crazy about it being a Canadian car.
civicgirlracer97
Banned
I'm sure you guys already know this but dealers won't give you squat for a car that has been modified to hell so if you plan on swapping and customizing it I suggest you sell it yourself. I had an 89 accord with close to 200,000 miles back in 2000 and sold it for $2500. The dealer wanted to give me $1000. I didn't have it all souped up but my point is rims, exhaust, ect will not add any value, only decrease it.
smooth_criminal
Senior Member
Originally posted by sleepergtx@Sep 29 2003, 01:32 AM
Myabe. Let's do some math shall we?
(Calesta, stop drooling.ÂÂ )
At 7% interest (which is rather high, but I'm doing that to be on the safe side) on a $14,500 car (if you remember, i'm putting $1000 down), I will end up paying Honda $16,571 for whatever the term is, so lets just say that's a 5 year term, you would divide that by 60 months, and it comes out to $276.18 a month. Expensive? Yes. Necessary? Yes. I need a new car. I can't drive this Escort anymore. The shifter is driving me insane.
NO, No, No you are doing the math WRONG!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
you have a APR... That what you have on cars. you don't add 7% of the total car amount.
This is how you do it. just say the car is 10,000 and you pay 200 a month. you that 12 (the number of months and times it by your payment) so you have 2,400
Now take the 10,000 minus the 2400. give you 7600 then add the 7%. give you 8132 now minus your 2400 again gives you 5732 add your 7% gives you 6133.24 now minus you 2400 give you 3733.24 add you 7% gives you 3994.5668 minus your 2400 gives you 1594.5668 timse you 7% give you 1706.186476 then you only have 8.53 months left at $200
Now do you understand. Your intrest rate is an annual add on. So never just think you can add your intrest to the total number and think you are getting a right figure. Look on that 10,000 you just paid a total of 11,306 and that = to 11.55% of the 10,000.
So if you car is 15,000 and you have 7% your paymnets will be 284.89 for 5 years
a 4 year loan will net you 344.86per month. I have an exel format i use for figuing out payments if you want it let me know and i'll send it to you..
And this nets you paying a total of 17,093.40
Originally posted by sleepergtx@Sep 29 2003, 01:32 AM
Myabe. Let's do some math shall we?
(Calesta, stop drooling.
At 7% interest (which is rather high, but I'm doing that to be on the safe side) on a $14,500 car (if you remember, i'm putting $1000 down), I will end up paying Honda $16,571 for whatever the term is, so lets just say that's a 5 year term, you would divide that by 60 months, and it comes out to $276.18 a month. Expensive? Yes. Necessary? Yes. I need a new car. I can't drive this Escort anymore. The shifter is driving me insane.
Do not mean to be a dick but you also have to put in taxes! <_<
If it was the factory one then it adds only 10 hp! 
94RedSiGal
Senior Member
Plus increased insurance and a good security system... B)
Similar threads
