Maple50175 : 2004 Pontiac GTO

[Tippey764]

Holy shit

I just bought a VW Rabbit and our interest rate was 2.64%

I guarantee Maple just told them the monthly payment he could do and let them handle the rest

My m3 has a 4.69% interest rate lol

[deevergote]

I had 6.5% or something on my Fit. I didn't care, since I planned on paying it off so quickly (which I did.)

[SOHC-FTW]

Wow.... by the time you get that paid of it will be a real classic goat.

[deevergote]

That 22.9% interest over the span of 5 years for $10,250 is going to add up to $17,301.82

In the end, that's a $21,500 decade-old GTO!

[SOHC-FTW]

Why i never plan to go in debt, i'll stick with buying cars i can pay cash for or get with a small loan.

[deevergote]

It's better that way. Payments suck, especially with something that depreciates as quickly as a car!

I "financed" my CB7 through my stepfather. He owned the dealership that I bought it from, and I made payments directly to him.
I made payments on my GTP, and ended up owing $5000 more than I got on the trade-in when I bought the Fit. So essentially, my $15,000 Fit was $20,000.
The Fit was my first brand new car. I paid that sucker off in under 3 years!
I had intended to finance my CTS-V (half down, half financed... paid off quickly.) But I ended up finding the perfect one at the perfect price before I could secure a loan... so I just paid cash.

[gloryaccordy]

Why i never plan to go in debt, i'll stick with buying cars i can pay cash for or get with a small loan.

The interest on my loan is something like $400

I will prob finance my next car and bike too if I can get good rates. They are pretty much giving it away... $400 for $6000 over 3 years, thats a terrible return, Im surprised they are doing these loans at all

You just have to know what you're doing and make the system work for you

[crazymikey]

I'm quite certain his credit is shite too...


Maple, an 04 WRX is going to be a headache and a half. Gas mileage is pretty bad, due to the turbo and AWD. A used WRX will most certainly be either beaten on or neglected. One that is nearly a decade old is going to give you a TON of trouble.

If you want something older, that's still sporty and fun... get an S2000. Or a Miata.
Or just keep up with the GTO. Any car that offers worthwhile performance is going to require compromise. You seem to have a habit of buying cars, getting sick of them, and just digging yourself into a hole.

Don't worry, I have the same problem. 2 cars paid off in 3 years, on my 3rd financed car since 2010. I pay 5.9% on the SI, which is a pretty standard used car rate around here. My payments are $310/mo, with $90/mo full coverage insurance.