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Those of you with nice $25k+ cars

J

Jumpem

Lifer
We were looking at a Forester XT yesterday, and even at $500 under invoice ($27,128) the payments were coming out to $623 for 48 months.

And $27k doesn't seem all that high of a price as far as new cars, that aren't econoboxes, are concerned.

So what is everyone here paying for all the nice cars that are always posted?
 
I bought a 2008 Outback last year. My payments on a 24 month, 20,000 loan at 5.9% are $899. I had some cash on-hand and I don't have any payments due until July 😀

Edit: I got the loan to build my credit.
 
that's why it's important to buy a car with good resale/trade in value, even at 0% interest, for a $27k car, your monthly payment is around $452 for 5years with nothing down. That's why I will never buy a Jeep again, and those that told me who cares about resale value in the thread in the garage category I just keep my mouth shut and let them learn this lesson themselves.
 
Originally posted by: keird
I bought a 2008 Outback last year. My payments on a 24 month, 20,000 loan at 5.9% are $899. I had some cash on-hand and I don't have any payments due until July 😀

Edit: I got the loan to build my credit.
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That's more than my rent & utilities. :Q
 
Consider using a balloon note if available. I used that once. You make payments on 1/2 or 3/4 of the amount and have a balloon balance that comes due after 5 years. At that point you turn in the car or pay off the balloon.

Better than a lease.
 
Originally posted by: JLee
Originally posted by: keird
I bought a 2008 Outback last year. My payments on a 24 month, 20,000 loan at 5.9% are $899. I had some cash on-hand and I don't have any payments due until July 😀

Edit: I got the loan to build my credit.
Click to expand...

That's more than my rent & utilities. :Q
Click to expand...

To be honest, it's more than my rent, too. I'm starting a family and needed a family car, not a 91 Nissan pick-up that needed to be fixed. I think the value of the Nissan was $800 on my excise tax bill.

I should have it paid off soon, but now I have to make $500 payments consitently before July arrives. Then I'd have to make the $899 payments, which would be difficult.

 
Originally posted by: Capt Caveman
No down payment or trade-in?
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Trade in will be hoping to get close to what I owe on my Fit. Down payment wouldn't be enough to substantially affect the payments.
 
Originally posted by: CRXican
go 60 months
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That's how we've ended up a little bit upside down with our Fit. We drive too much, 30k annually, for the payments to keep up with depreciation.

We'll try 48 months this time and hopefully not have the same problem.
 
Originally posted by: richardycc
that's why it's important to buy a car with good resale/trade in value, even at 0% interest, for a $27k car, your monthly payment is around $452 for 5years with nothing down. That's why I will never buy a Jeep again, and those that told me who cares about resale value in the thread in the garage category I just keep my mouth shut and let them learn this lesson themselves.
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Some people NEVER learn. That's why Jeep is still around.
 
Originally posted by: MaxFusion16
buy used
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If the payments for a NEW car are too high...buy a good used car.
(remember, most new cars lose more than 20% of their value the second you drive off the lot.
CPO vehicles aren't a bad deal if you can find what you're looking for.
The car biz is hurting so badly now that good deals can be had, IF you know how to negotiate with them.
 
Originally posted by: Jumpem
Originally posted by: AnonymouseUser
Some people NEVER learn. That's why Jeep is still around.
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Yup. Depreciation is one reason I refuse to buy an American car.
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Then why buy a new car? A 2 yr old domestic will depreciate far less than a new import. Pick up a lightly used car with the bulk of the remaining warranty and let someone else take the big hit.
 
Originally posted by: BoomerD
If the payments for a NEW car are too high...buy a good used car.
(remember, most new cars lose more than 20% of their value the second you drive off the lot.
CPO vehicles aren't a bad deal if you can find what you're looking for.
The car biz is hurting so badly now that good deals can be had, IF you know how to negotiate with them.
Click to expand...

I'd be interested in a used car if I could find something with ~3k miles on it and 2/3 the cost of a new one.
 
Originally posted by: Jumpem
Originally posted by: BoomerD
If the payments for a NEW car are too high...buy a good used car.
(remember, most new cars lose more than 20% of their value the second you drive off the lot.
CPO vehicles aren't a bad deal if you can find what you're looking for.
The car biz is hurting so badly now that good deals can be had, IF you know how to negotiate with them.
Click to expand...

I'd be interested in a used car if I could find something with ~3k miles on it and 2/3 the cost of a new one.
Click to expand...

Youre going to be in Kia, Daewoo, Land Rover, Ford SUV territory with requirements like those.
 
Originally posted by: Slew Foot
Youre going to be in Kia, Daewoo, Land Rover, Ford SUV territory with requirements like those.
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No.

My wife's 04 Forester XT had a $31k window sticker and she got it for $21k with 3k miles on it. My 05 STi was $26k with 7k miles on it.

I'll buy very slightly used if the right car at the right price comes up.
 
Could probably negotiate pretty well on a slightly used 2008 or newer Tribeca. Definitely want the newest possible as it got the better 3.6l engine.
 
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