Quote:
Originally Posted by jdb_
Hey guys, first post here.
So close to getting a GT86 Manual 2014 on finance ready for their arrivals late this year.
I plan to use the Toyota Access Finance program (Car has guaranteed future value after 4 year term and Toyota will buy it back as a balloon payment or I can sell privately/keep the car and pay the rest of the loan. This is based on condition of the car at the end of the contract period and an agreement is made on how many km's will be driven over the period.)
Since I have never been in a payment contract for a car or any large purchase before, could you take a look at my situation and tell me whether you would make the jump or not if you were me?
Details:
8.75% Interest over 4 year term
$6000 deposit
My weekly salary $450 (When I finish my degree in just over a year this will be somewhere between $600 and $750).
Expected Car repayments including insurance $130.
I will sell my current car after the loan starts for ~2k.
Cheers  |
I doubt you'll find a lower Interest rate on the 86 mate. i tried and couldn't get under 8%.
If I were you I'd save a little more and try to put down 50% Deposit.
Do you pay rent or board at all? If not I'd think about whether you will be in the future if within the loan repayment period.