Down Payment?

[Jeong]

How much did you guys put down as down payment for your fr-s? im looking to get it sometime this year but im not sure whether to wait a few months and save as much as possible or just get it next month and pay it all off through the loan.

[encity5]

If your going to finance it, put as much down as you can afford to. I put about 6k down plus a trade in (which still had payments, added about 3k to the downpayment)

[RRnold]

Since we don't know your financial situation, that's your call. However, putting too much down on a car that will depreciate might not be that good of an idea, esp with on how low the interest rates are going for new cars.

[deucethemoose]

I have always thought a good rule of thumb is 20% of the total cost - Tax, Title, and Licensing included.

With a standard 6MT FR-S going for ~$27500 I would say at least $5500 or more if you can afford to do so.

[denverizzles]

I say Scion stops making the FR-S in 2014, leaving there only 2 years worth of FR-S'. That would really keep our cars from depreciating lol...and it'll make our cars pretty rare =P

[Enilder]

Originally Posted by encity5

If your going to finance it, put as much down as you can afford to. I put about 6k down plus a trade in (which still had payments, added about 3k to the downpayment)

If you are not investing and you can't beat the interest rate (2? 3%?), sure. Otherwise, pretty dumb advice.

[El Diablito]

I only put 2,000 down

[_hollywood]

7000

And didnt add any extra crap like extended warranty, which just adds to the monthly payment

[Griffdawg]

I put $23,233 down and financed $5000. I have bad credit with a score of 505. I would have paid cash but thought id finance some to rebuild my credit.

[m.box.design]

Downed $7,000. Got 2.6% APR for downing over 5k.

[Thunderchicken]

Just a quick ref. for every $1000 you put down you only decrease your financed payment by $10.

[Hawaiian]

Originally Posted by Griffdawg

I put $23,233 down and financed $5000. I have bad credit with a score of 505. I would have paid cash but thought id finance some to rebuild my credit.

Just a few pointers i gave to turbowned. I jumped my credit 100 points in less than a month.

http://www.ft86club.com/forums/showt...?t=7999&page=2

It's just a matter of calling people up and getting them to drop things off your report.

[Norkoastal]

Just got approved for 30k @1.99%... I have a car that i'd be selling for 8.5k.. Wondering what would be the best route to take... I'm thinking of putting it all down to only finance 20k (2 out of pocket). $350 car payments aren't bad at all (60 month note).

My only caveat on this is the depreciation factor and inflation factor... longer notes work in your favor as dollars get cheaper and wages rise. hmmmmmm

[RRnold]

Originally Posted by Griffdawg

I put $23,233 down and financed $5000. I have bad credit with a score of 505. I would have paid cash but thought id finance some to rebuild my credit.

Wow! Is 5K all that you were able to qualify for? Was your 505 based on late/missed payments or because you didn't have any established credit?