How Much Do You Owe?

[GraysonF]

Like the title says, how much do you guys owe on your cars? i'm sure some of us here are younger and have car payments, so post them up!

On the Acura Im planning on trading in for an A4, I owe 9200, but my payment is only 250 a month.

[initiala4]

Mmm paid it since the day I picked it up!

[absolutegtr]

paid in full!

[pondside36]

Only a couple payments left at $400 a month..

[a2gtinut]

payments, not me. I only buy things if I can afford them

[gq9]

Mmm paid it since the day I picked it up!

+1

[junkie1.8TQ]

13500 left $560 per month

[n7plus1]

way too much...around 12k

[Squadra Corse]

About 20K left lol. Payment is about $500.00 a month but I pay $700.00 to end the loan sooner.

[zbrock06]

about 17k, i pay 325 a month.

[SlappyB6]

Nadda. The dealership actually owes me like $450.00 from my trade-in.

[n7plus1]

lol, nice...my payments are 242 a month...which is really low compared to what everyone else is paying

[pondside36]

I know mine is higher since I got a shorter term loan and paying double payments to end it even earlier... damn I hate paying intrest..

[pyro]

$2800 left. w00t!

[manhertm]

$7K, had it for a year and some months.

[zemun2]

payments, not me. I only buy things if I can afford them

I guess I'm stupid for getting a 5 year loan at .75% APR...lol

Theres nothing like using someone else's money at low interest rate.....bwahahaha

Cash is used for investing and credit is used wisely for buying things you can afford...

[audi314]

Well I have about 17K left on mine. I have only owned it for 6 months. Well 4.5 years to go!!!

[italian a4 1032]

paid in full!

+1

[HeHateMe]

Mmm paid it since the day I picked it up!

+1

[Elliott]

Cash is used for investing and credit is used wisely for buying things you can afford...

X2. I can spend my $ much more efficiently than blowing on a car all at once. I would have lost money doing it that way.

[ComfortRacing]

owned it for 2 years, and owe $15,200 and pay $425 per mo.

[AudiBama]

paid cash when i bought it

[HeHateMe]

X2. I can spend my $ much more efficiently than blowing on a car all at once. I would have lost money doing it that way.

what about the interest paid over the life of a loan?

[texasboy21]

$$$000000 bitches paid cash the day i got her

barrett

[AudiA4Turbo22]

$0

[47Ronin]

I guess I'm stupid for getting a 5 year loan at .75% APR...lol

Theres nothing like using someone else's money at low interest rate.....bwahahaha

Cash is used for investing and credit is used wisely for buying things you can afford...

Yes because your current investments are really netting you more than .75% adjusted APR? - right

Unless you actually know wtf you're doing most people in the last few years are better off not going that route.

I mean yeah I invest my money and use the extras to pay the interest payments on a lease payment ... but shit - if everyone knew how to do that - the market wouldn't work - u need losers for there to be winners

[04TurboB6]

$O paid cash from my insurance check from my old benz..

[zemun2]

what about the interest paid over the life of a loan?

Do you not know that inflation in US is some 3% on annual basis and my loan is .75%...

.75% interest over 5 years on $30K loan is aprox. $600, so give me one good reason why would I want to dump $30K cash and not pay $30,6K over 5 years...

[zemun2]

Yes because your current investments are really netting you more than .75% adjusted APR? - right

Unless you actually know wtf you're doing most people in the last few years are better off not going that route.

I mean yeah I invest my money and use the extras to pay the interest payments on a lease payment ... but shit - if everyone knew how to do that - the market wouldn't work - u need losers for there to be winners

Even if you dont invest you're still better keeping the cash...

Simple math one post above....

And if you dont feel like investing just dump money into some CD and you'll have at least 3% return on it

[HeHateMe]

Do you not know that inflation in US is some 3% on annual basis and my loan is .75%...

.75% interest over 5 years on $30K loan is aprox. $600, so give me one good reason why would I want to dump $30K cash and not pay $30,6K over 5 years...

what about people that didn't buy new and couldn't get that kind of rate? what if your rate was say, 10 percent?

[47Ronin]

Well the thing is not everyone gets a 0.75% rate as I pointed out. The bank would be stupid to give you money at 0.75% and get money from depositers at 3% ... that's asking to lose money.

Sure there will be some winners and some losers -

[jettman]

zero

[zemun2]

Well the thing is not everyone gets a 0.75% rate as I pointed out. The bank would be stupid to give you money at 0.75% and get money from depositers at 3% ... that's asking to lose money.

Sure there will be some winners and some losers -

You can get 60 month CD @ 4% from WAMU right now, I'm sure you can get better loan than that, but even if your car loan is at 5% you still only loose 1%

if you put your money into 4% CD and get a 5% car loan interest paid on 1% difference on $30k is aprox $800..

no matter how you look at it cashing out $30K when you can get sub 5% loan is just plain stupid in investment world...

[ewytt]

1,100, can't wait

[absolutegtr]

for those who are leasing...yes it CAN be the smarter move.

But for me being 20 yrs old with 2 speeding tickets, having a lease would mean having full insurnace (which would be about $2600 every six months)...but with just liability...only $400 every six months

[Gondi Stylez]

Paid in full.

[Stearnsy]

~$10k on an '04 USP

[A4Avant02]

ZEERO, nadda, zilch...

Buy used, pay cash...

Invest wisely and you can always afford to 'pay to play'......

[jojoampt]

0$ for the first time in my life!!

[Kerschera4]

like zemun2 said a little financial savviness can go a long way..

i bought my car used and paid in full. Bc that is not always the best decision financially, i decided to finance some of it so i could have some money in my pocket at school. my loan interest rate is 4.75% (not much more than inflation which is ~3%) and i took more than half of the money i got and invested it risk free into a 5 month CD yielding 5.25%.

when i roll that over, not only am i making plenty of risk free interest to cover the interest on the loan, but i am actually making a few hundered bucks on money that was never mine from the beginning