Quote:
Originally Posted by monstar369
I'm 21 years old as well and I make about $2000/mo. Just picked up the Brz last week and I ended up putting 3k down and got an interest rate of 4.49% (due to short credit history). My monthly payments are $435 for 72 months.
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never ever ever agree to a 72 month loan...
Also, later in thread this guy says not to put 7k down.
Monstar may be a smart guy, but his financial advice is shit.
A rule of thumb on on 60 month loans is...every thousand dollars will equal about 20 dollars a month.
So, 7k down saves you 140$ a month in payments. Also avoids interest.
As a younger person, you most likely will get a bad interest rate...we all have been there.
It sucks, but you should pay interest on a car you like and will enjoy...not a POS.