What kind of interest rate for car loan

[rcpratt]

Nuh uh.

Let's have a contest.

It actually would be interesting, but people would lie. I want an age vs. income scatterplot.

 

[Tweak155]

Car loans aren't terribly hard on consumers from my experience. With 575 I'd suspect you could still get under 10% (even though thats pretty high for a car loan, its not the worst that could happen).

 

[Fritzo]

I probably make more $$ than everyone else on here, and having a car payment is the worst thing. I look at that 700/mo and it feels like money down the drain. Buy something safe, and drive it till it breaks.

Oh yeah??? I make three fiddy. Beat that!

 

[blinblue]

Let's have a contest.

It actually would be interesting, but people would lie. I want an age vs. income scatterplot.

How about we do hourly wages instead. The work I do is paid per "unit" that I complete, I set a new record today, $585/hour. Too bad it was only for 6 minutes 🙂

 

[rwhoward5]

how about we scan our paychecks

 

[D1gger]

how about we scan our paychecks

That wouldn't work for me, as a very large percentage of my income is paid in the form of a dividend or a shareholders bonus from my company. We would have to scan our tax returns to show a full years' income. 😉

 

[rwhoward5]

That wouldn't work for me, as a very large percentage of my income is paid in the form of a dividend or a shareholders bonus from my company. We would have to scan our tax returns to show a full years' income. 😉

alright i'm in

 

[BoberFett]

8 years isn't old.

Yeah, an 02 I'd still consider a relatively new car. My wife's car is a year old because I want a reliable vehicle for her but my cars are 12 and 14 years old and I plan on driving them for years to come.

 

[iGas]

One of the main reason that I got the Camry is because it is cheaper on fuel than my 10 years old mini van. A smaller car wouldn't do it for me because my commute is 2+ hours per day to/from work.

$450~$500/month for fuel Ford Windstar.

$280~$340/month for fuel Camry V6.

Payment were $323.81 for 48 months (the payment is lower now because I thrown some additional money at it recently). Total interest is $542.88 ++ $45 processing fee.

My justification for the Camry is that it worked out to be around $150 a month for me for 4 years and it is much more pleasant to commute in than the Windstar.

 

[CRXican]

just about anything is better than a Windstar but that's not what this thread is about

 

[iGas]

just about anything is better than a Windstar but that's not what this thread is about

Sorry, I got off track.

IMHO, it doesn't make financial sense for the OP to buy a new car at the moment, but it is his money and his decision to make.

 

[Nda]

0% on my 2010 Camry LE, bought around $22K this January.