How much are you guys putting down on your BRZ? - Page 6 - Toyota GR86, 86, FR-S and Subaru BRZ Forum & Owners Community

tranzformer · 03-22-2012, 01:23 PM

Quote:

Originally Posted by ubersoph

Woah where are you guys getting 1.99? I'm getting quoted 2.9 and I have excellent credit...

PenFed. 1.99% 48 months.

A Gomez · 03-22-2012, 01:28 PM

I think this question is relevant since this is about how much down payment you would make or whether or not to take out a loan at all to begin with. I just am curious what other "costs" are associated to have a car loan (I have never had one throughout my life). Here are the items I think I know from talking with some other people or reading posts in multiple threads of this forum.

- Loan application fee(s)
- Liability insurance (is this an additional charge to your insurance premium?)
- Transaction fee(s) - does monthly payment automatically taken out from your account or do you need to pay some kind of transaction fee(s) to make each payment?

tranzformer · 03-22-2012, 01:30 PM

Quote:

Originally Posted by A Gomez

I think this question is relevant since this is about how much down payment you would make or whether or not to take out a loan at all to begin with. I just am curious what other "costs" are associated to have a car loan (I have never had one throughout my life). Here are the items I think I know from talking with some other people or reading posts in multiple threads of this forum.

- Loan application fee(s)
- Liability insurance (is this an additional charge to your insurance premium?)
- Transaction fee(s) - does monthly payment automatically taken out from your account or do you need to pay some kind of transaction fee(s) to make each payment?

No loan application fee for me
No transaction fee for me (pay the monthly payment online each month)
Liability insurance- would get this on a new car anyways. Would never have a brand new car with no liability insurance, but that could just be me.

A Gomez · 03-22-2012, 01:36 PM

Quote:

Originally Posted by tranzformer

No loan application fee for me
No transaction fee for me (pay the monthly payment online each month)
Liability insurance- would get this on a new car anyways. Would never have a brand new car with no liability insurance, but that could just be me.

Maybe I misunderstood something what I read in other threads. When I said liability insurance, I assumed liability = debt, so I thought there was some additional insurance charge to a car you do not own (the fianancing company has the lien, right?). I did not mean the general liability (property damage, hurting/killing persons, etc).

tranzformer · 03-22-2012, 01:39 PM

Quote:

Originally Posted by A Gomez

Maybe I misunderstood something what I read in other threads. When I said liability insurance, I assumed liability = debt, so I thought there was some additional insurance charge to a car you do not own (the fianancing company has the lien, right?). I did not mean the general liability (property damage, hurting/killing persons, etc).

The only thing they required was auto liability insurance of at least 100k/300k/100k which I would have had anyways.

Turbowned · 03-22-2012, 01:52 PM

Quote:

Originally Posted by ubersoph

Woah where are you guys getting 1.99? I'm getting quoted 2.9 and I have excellent credit...

I know, right? Sign me up! I'm expecting 4-5% with my good but limited credit. Poopie!

Longhorn248 · 03-22-2012, 01:55 PM

Some lenders actually offer a lower interest rate if you set up recurrent payments online. Saves them money so they give you a break. It won't be huge, something like 0.25%, but every little bit helps.

Canibuz · 03-22-2012, 02:42 PM

Quote:

Originally Posted by Turbowned

I'd like to do ~$5,500 down. ~$1800 of that will go to the great state of Taxachusetts (6.25%, assuming MSRP of $28,500 after destination), so the remaining $3,700 will come off what's left. Doc fees and registration should be about $500.

I just hope I can swing 60 months and don't have to stretch to 72. With my $300/mo vehicle allowance through work ($230/mo after tax) I know I can afford the remaining $220ish/mo. If it comes out to more I'll go to a dumb phone and cut my phone bill in half - f**k phones! I fully expect to make more money in the upcoming years, but then I need to start thinking about a house, too. F**k housing, too! It's all about cars.

Worst case scenarios: I lease one and buy it outright at lease end (not the best financial decision but...) or I save a couple grand going with the Scion... I really hope it doesn't come to this, though.

I am buying in Taxachusetts but I am from RI so I'll get hit with the 7.0%. I have up to 11k I could put down as cash. But right now my loan offer expired through my bank and rather than try again I am going to sit down at the dealer when it comes in. Show them what I was offered in the past, if they can't beat it I will have a loan offer in 10 minutes online... LOVE USAA!

86design · 03-22-2012, 03:10 PM

Quote:

Originally Posted by TylerD951

6,000 + trade in or I may sell my car privately if trade in value is very low.

what type of car are you selling? have you seen what kelly's blue book has to say?

Turbowned · 03-22-2012, 03:34 PM

Quote:

Originally Posted by 86design

what type of car are you selling? have you seen what kelly's blue book has to say?

KBB is a rubbish resource if you're trading at a dealer. Dealers don't use it and swear against it. If you want an accurate value, your best bet is National Auto Dealers Association - nadaguides.com

engee · 03-22-2012, 03:52 PM

Quote:

Originally Posted by Turbowned

KBB is a rubbish resource if you're trading at a dealer. Dealers don't use it and swear against it. If you want an accurate value, your best bet is National Auto Dealers Association - nadaguides.com

Some dealers use galves as well.

Draco-REX · 03-22-2012, 03:54 PM

I'll be trading my car for the BRZ even though I owe the majority of the value. The reason is because in OH, the full value of a car being traded in (regardless of any loans) is subtracted from the value of the new car to calculate tax.

86design · 03-22-2012, 08:15 PM

Quote:

Originally Posted by Turbowned

KBB is a rubbish resource if you're trading at a dealer. Dealers don't use it and swear against it. If you want an accurate value, your best bet is National Auto Dealers Association - nadaguides.com

good to know

hooge · 03-24-2012, 06:35 AM

1000$ preorder fee
probably 5k down the day it comes out
can't sell my car before buying a new one due to work, so going to swing it with the dealer to drop off 5k more when my car sells.

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03-22-2012, 01:28 PM	#72
A Gomez Senior Member Join Date: Dec 2011 Drives: Celica Location: USA Posts: 143 Thanks: 0 Thanked 0 Times in 0 Posts Mentioned: 0 Post(s) Tagged: 0 Thread(s)	I think this question is relevant since this is about how much down payment you would make or whether or not to take out a loan at all to begin with. I just am curious what other "costs" are associated to have a car loan (I have never had one throughout my life). Here are the items I think I know from talking with some other people or reading posts in multiple threads of this forum. - Loan application fee(s) - Liability insurance (is this an additional charge to your insurance premium?) - Transaction fee(s) - does monthly payment automatically taken out from your account or do you need to pay some kind of transaction fee(s) to make each payment?

03-22-2012, 03:54 PM	#82
Draco-REX Corner Junkie Join Date: Feb 2012 Drives: 13 BRZ, 11 STI, 99 RS Location: Ohio Posts: 2,908 Thanks: 129 Thanked 1,521 Times in 702 Posts Mentioned: 11 Post(s) Tagged: 0 Thread(s)	I'll be trading my car for the BRZ even though I owe the majority of the value. The reason is because in OH, the full value of a car being traded in (regardless of any loans) is subtracted from the value of the new car to calculate tax.

03-24-2012, 06:35 AM	#84
hooge Junior Member Join Date: Mar 2012 Drives: 98 civic b-18 swap, JRSC. Location: calgary Posts: 7 Thanks: 0 Thanked 0 Times in 0 Posts Mentioned: 0 Post(s) Tagged: 0 Thread(s)	1000$ preorder fee probably 5k down the day it comes out can't sell my car before buying a new one due to work, so going to swing it with the dealer to drop off 5k more when my car sells.

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