View Poll Results: How much do you pay a month for your max
Mines Paid off
36
22.22%
0-350
36
22.22%
351-425
39
24.07%
426-501
26
16.05%
501+
25
15.43%
Voters: 162. You may not vote on this poll
How much do you pay a month...
Junior Member
Joined: Feb 2006
Posts: 57
From: Wellesley, MA
I bought this one http://forums.maxima.org/maximas-sal...ed-32k-ma.html
And I paid less than his advertised price.
And I paid less than his advertised price.
Junior Member
Joined: Feb 2006
Posts: 57
From: Wellesley, MA
Quote:
Originally Posted by 04BlackMaxx View Post
They say if you have to get a 6yr loan, you shouldnt be buying the car bc you cant afford it.
I agree with 04BlackMaxx but I see 2LEET4U's point. Here is the reason.
If you have to finance a car for 6-7 years in order to make the payment affordable for you, then you're probably buying too much car. I don't care what car it is, if you're financing for 7 years, you will end up with lots of negative equity in the car, meaning the car will depreciate way faster than you're paying it off. It just isn't a wise financial move.
Originally Posted by 04BlackMaxx View Post
They say if you have to get a 6yr loan, you shouldnt be buying the car bc you cant afford it.
If you have to finance a car for 6-7 years in order to make the payment affordable for you, then you're probably buying too much car. I don't care what car it is, if you're financing for 7 years, you will end up with lots of negative equity in the car, meaning the car will depreciate way faster than you're paying it off. It just isn't a wise financial move.
Banned
Joined: Feb 2005
Posts: 4,269
Its the fact that the car's book value declines and the extra interest you have to pay. Yes, its more affordable on a monthly basis, but it ends up actually costing you much more in the end.
correct, but that allows you to buy a maxie over 6 years instead of sentra in 4 if you get my drift
Joined: May 2005
Posts: 10,197
From: Displaced New Yorker in Southern, MD
Banned
Joined: Feb 2005
Posts: 4,269
you bought a used car for much less than most of these guys paid for brands new wheels. It is understandable to pay less or pay it off faster. Please compare apples to apples.
you're going into extremes to show your point but you aint got one. To pay off S550 would take more than 24 years with the same monthly payments, the car won't live that long. Maxima on the other hands will still be zipping around after 6 years so taking 6 years car loan is nothing out of ordinary. Please make sense when posting.
Newbie just Registered
Joined: May 2005
Posts: 2,795
From: LA/OC, CA
you're going into extremes to show your point but you aint got one. To pay off S550 would take more than 24 years with the same monthly payments, the car won't live that long. Maxima on the other hands will still be zipping around after 6 years so taking 6 years car loan is nothing out of ordinary. Please make sense when posting.
2005 $384.91/ mo w/ $9k down for 60 mos @ 2%. I still owe $7k, but I have some equity if I trade it in tomorrow.
Last edited by RHMax; Sep 30, 2008 at 11:12 PM.
I think you made his point for him. On the 7th year, you're still paying for a $30k car. How much would a 7 year-old 6th gen worth, given it would have over 100k miles on average.
2005 $384.91/ mo w/ $9k down for 60 mos @ 2%. I still owe $7k, but I have some equity if I trade it in tomorrow.
2005 $384.91/ mo w/ $9k down for 60 mos @ 2%. I still owe $7k, but I have some equity if I trade it in tomorrow.
HUH???????????
When did 7 years come into the equation???????? What are you talking about????
Newbie just Registered
Joined: May 2005
Posts: 2,795
From: LA/OC, CA
84 months loan payment = 7 years. 6-year loan payment puts you in a slight better situation than 7, but still a 6 year-old car with about 100k miles, compound with high interest.
Last edited by RHMax; Oct 1, 2008 at 07:08 AM.
Banned
Joined: Feb 2005
Posts: 4,269
you're going into extremes to show your point but you aint got one. To pay off S550 would take more than 24 years with the same monthly payments, the car won't live that long. Maxima on the other hands will still be zipping around after 6 years so taking 6 years car loan is nothing out of ordinary. Please make sense when posting.
Last edited by 04BlackMaxx; Oct 5, 2008 at 08:47 AM.
Supporting Maxima.org Member
Joined: Aug 2007
Posts: 106
Guys on $28k which is what my 07 SE cost principle alone over 5 years is $467 with no down payment. So anyone paying less than this on a 07 or 08 is putting a hefty down payment to get there.
I chose to put nothing down and roll over $4k that I was upside down because they gave me 1.9% financing. There's no way in hell I would put money down at that low an interest rate, it's just not smart business.
I chose to put nothing down and roll over $4k that I was upside down because they gave me 1.9% financing. There's no way in hell I would put money down at that low an interest rate, it's just not smart business.
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Member
Joined: Mar 2008
Posts: 73
From: Boston, MA
525.18 for 5 years! (my first car loan) My first car (01maxima) I paid for in a full in 2004 (15500) But it's only making my credit better! It'll be paid of quicker than 5 years too, I do double payments year round.
