Purchasing with Cash or Financing

[suaveflooder]

Originally Posted by strat61caster

Maybe there aren't sedans that can run away from the FRS but there are a few that could give a Toyobaru a run for it's money, in the same price bracket (<$30k), returning equivalent or slightly better fuel economy, with 4 doors.

Mazda 6 comes to mind since suave came up empty handed.

Mid to low 7 Seconds 0-60 time for the 'sport' version in MT
http://www.zeroto60times.com/Mazda-0-60-mph-Times.html

FRS Auto is mid to low 7s
http://www.zeroto60times.com/Scion-0-60-mph-Times.html

The Mazda 6 is a large 4 door sedan with a 4 banger with better mpg than the Toyobaru:
http://www.fueleconomy.gov/feg/bymod..._Mazda_6.shtml

Ford Taurus EcoBoost ~7 seconds 0-60, 26 mpg mixed
http://www.caranddriver.com/reviews/...st-test-review
Ford Fusion with nearly identical numbers:
https://www.fueleconomy.gov/feg/noframes/34086.shtml
http://www.zeroto60times.com/Ford-0-60-mph-Times.html

Of course, the always touted V6 Camry with a 5.7s 0-60 and 25mpg combined:
https://www.fueleconomy.gov/feg/noframes/34292.shtml
http://www.zeroto60times.com/Toyota-0-60-mph-Times.html

Nissan Altima with 3.5L V6 is about 6 seconds 0-60:
http://www.zeroto60times.com/Nissan-0-60-mph-Times.html
https://www.fueleconomy.gov/feg/noframes/34248.shtml

Lol, I hardly came up empty handed. It is simply amazing to me how lazy people are when it comes to finding information. It is freely available with a simple search. Why would I waste my time doing the work for him? A mini van can outrun an FRS. They aren't designed to be fast


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[strat61caster]

Originally Posted by suaveflooder

Lol, I hardly came up empty handed. It is simply amazing to me how lazy people are when it comes to finding information. It is freely available with a simple search. Why would I waste my time doing the work for him? A mini van can outrun an FRS. They aren't designed to be fast

If you make an argument without evidence not only are you not proving anything but devaluing your future postings, imho.

The internet is too full of people spouting bullshit.

[suaveflooder]

Originally Posted by strat61caster

If you make an argument without evidence not only are you not proving anything but devaluing your future postings, imho.

The internet is too full of people spouting bullshit.

All I do, good sir. Just spout bullshit.

[FT86.ca]

Originally Posted by Chad86

I was surprised I could not get any lower as well. The Monogram was at a set 3.99% rate and yet the base FR-S could go as low as 1.99%

I might call up Scion and see if this is legit, as I ran the figures through Scion.ca and I was able to do 1.99 on a 3 year and 2.99 on a 4 year loan. I asked the dealer and they said those rates do not apply to the Monogram and it was lowest at 3.99%

I will definitely be shopping around and if I find a lower rate at the bank I will pay out the loan with Scion.

Coast Capital could only get me prime +2.5 which ends up being 5.5%
My credit history is perfect and have been building a credit history since I was 19. (Just turned 34 today!)

Let me know if you have any other advice.
I think the dealer might have been screwing me around, so I will check it out directly with Scion as nowhere on the site does it says fixed rates on Monogram edition.

Hi Chad,

Congrats on your car! I noticed that you are BC. The houses are crazy expensive here. Who knows what's going to happen to the prices in Vancouver this summer.

My 2 cents

The other option "was" (if you weren't in too much of a rush to get the car), is to make as much down payment on your home. Then get a line of credit from TD, BMO, Royal etc.. and use that to buy your car. The rates would be lower than 3.99% for sure.

Remember, you'll need to put down at a minimum 20% downpayment in order to avoid the CMHC insurance fees when buying a home.

In my personal experience, financial institutions start opening more options for you when you own a home and have equity in it.

Anyways, the "bigger" question is... what are you going to do with your Celica? I will have my 2000 Celica GTS 6speed and it's still running strong.


Victor
CelicaGarage.com

[Chad86]

Originally Posted by FT86.ca

Hi Chad,

Congrats on your car! I noticed that you are BC. The houses are crazy expensive here. Who knows what's going to happen to the prices in Vancouver this summer.

My 2 cents

The other option "was" (if you weren't in too much of a rush to get the car), is to make as much down payment on your home. Then get a line of credit from TD, BMO, Royal etc.. and use that to buy your car. The rates would be lower than 3.99% for sure.

Remember, you'll need to put down at a minimum 20% downpayment in order to avoid the CMHC insurance fees when buying a home.

In my personal experience, financial institutions start opening more options for you when you own a home and have equity in it.

Anyways, the "bigger" question is... what are you going to do with your Celica? I will have my 2000 Celica GTS 6speed and it's still running strong.


Victor
CelicaGarage.com

My purchase of this car was a must right now. Sold my home a year ago to get out of the market and I will be renting until the dust settles in this unpredictable housing market.

My Celica only has approx. 94,000km and does not burn any oil. I have always had this car outsides and plan to garage keep my FR-S. I plan to keep my Celica as my daily driver and winter car as she drives fine, is great on gas and I own her completely. Bought her brand new in 2003. I test drove a GTS before I got my GT, but could not afford it at the time. If you are thinking to get an FR-S, you should definitely get the Monogram if there are any still available. This car is simply amazing!

[ZionsWrath]

Brb trading in my car for a v6 camry because its faster, more fuel efficient, and more practical. Cant wait to take it to the track day i signed up for, some autocross, and some canyon runs. The best part is going to be heel toeing hearing that glorious power

[suaveflooder]

Originally Posted by ZionsWrath

Brb trading in my car for a v6 camry because its faster, more fuel efficient, and more practical. Cant wait to take it to the track day i signed up for, some autocross, and some canyon runs. The best part is going to be heel toeing hearing that glorious power

Lol. I should borrow my parent's and do the same


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[gily25]

Would you borrow against the house to buy the car? Essentially that's what you'll be doing if you have more mortgage so you can own the car. Also since the mortgage faces amoritization you're not only paying the upfront APR but the compound interest as well. Lastly $25k could be the difference between PMI or not, you could be paying additional fees (PMI) if you don't have an 80/20 ratio on the mortage.

[chadstyle]

Chad, if you have the cash then buy it outright. If you have awesome credit and can get an EXTREMELY low rate and your money is making you more elsewhere then finance it. I paid cash in full for mine as I hate payments and I don't regret it for a second but ymmv. -Chad