Mitsubishi Lancer Evolution Forum banner
1 - 20 of 33 Posts

·
Registered
Joined
·
271 Posts
Discussion Starter · #1 ·
hey guys, im brand spankin new to the forums registration wise, but ive been reading discussions for well over a month now. Ive chosen to buy a new Evo when i get home from my deployment and in all honesty im kinda dead set on it. problem is, im married. the wife wants me to get what i want to get, but she is stressin out big time about the monthly payments. i know yall have discussed insurance payments and wut not, and i know loan payments are dependant on each individuals interest rates, but i still would like to toss the question out to see how much you guys/girls are payin monthly as far as auto loans are concerned. if i can get sum good figures (which im leanin towards not) then maybe i can ease her mind a lil bit and make her feel like we wont be struggling just bc i want my Evo. Any input helps, so i appreciate it.
 

·
Registered
Joined
·
111 Posts
thats really gonna just depend on how much the loan is for and how much you put down.

figure you are doing 37k over 60 months with 0 down, 10% tax and licensing and 7% interest rate, then you are looking at 800 a month

you put 10% down youd be around 730 a month

20% down and now its 650 a month...

so really, it just depends on you
 

·
Registered
Joined
·
271 Posts
Discussion Starter · #6 ·
Welcome to the forums. Which branch of service are you in?
Thx, im in the Marine Corps. And right now im set to re-enlist so there goes sum re-enlistment bonus money for a down payment...i just am not sure how much im ready to put down...figure i got my very first car, a 00' celica in great condition for trade in, as i dont expect to get too much from it, it still helps a bit. so...i dunno.
 

·
Registered
Joined
·
4,623 Posts
USN here.I got back from Afghanistan months ago. I used some of that deployment money for a downpayment on the EVO. 500/month payment. I also have a Chrysler Pacifica. Married with 3 kids. Bought a new house too - 1450/month.



and oh yeah...nearly perfect credit score ...789
 

·
Registered
Joined
·
271 Posts
Discussion Starter · #8 ·
USN here.I got back from Afghanistan months ago. I used some of that deployment money for a downpayment on the EVO. 500/month payment. I also have a Chrysler Pacifica. Married with 3 kids. Bought a new house too - 1450/month.
hate to ask, but you rly struck my curiousity. im a sgt (e-5) and im married with no kids and a house payment of roughly $930/m. wife brings in an extra 1k a month from her job as she also goes to school, but wut rank are you if you dont mind me asking. if your an Officer, then thats all you gotta say, i understand :)
 

·
Registered
Joined
·
4,623 Posts
hate to ask, but you rly struck my curiousity. im a sgt (e-5) and im married with no kids and a house payment of roughly $930/m. wife brings in an extra 1k a month from her job as she also goes to school, but wut rank are you if you dont mind me asking. if your an Officer, then thats all you gotta say, i understand :)
E-6 and soon to be E-7. My wife is currently unemployed.
I am a linguist(4 languages):thumbup:
 

·
Registered
Joined
·
10,007 Posts
1500/month (NZ) next 3 years.
 

·
Registered
Joined
·
8 Posts
I couldn't imagine paying $5-600 a month for this car in 5 years from now. Sure, at first it is worth it, but I couldn't stomach the payments when its old and beat up!

I'm guessing that the people who didn't put anything down and have these super high payments are going to sell after a few years?
 

·
Registered
Joined
·
939 Posts
I couldn't imagine paying $5-600 a month for this car in 5 years from now. Sure, at first it is worth it, but I couldn't stomach the payments when its old and beat up!

I'm guessing that the people who didn't put anything down and have these super high payments are going to sell after a few years?
I make almost 100k a year at my current job and am paying roughly $800 canadian a month. I don't plan on selling the car after a few years because rightnow and for at least the next 3 years the car will be garaged with maybe only 5000kms put on each year as I live in the arctic and there is no way I'd bring the evo up here. Btw single with no kids and my rent is cheap cheap cheap.
 

·
Registered
Joined
·
8 Posts
I guess I just assumed people put big down payments on expensive cars. I remember when I was in high school I bought a 1994 Chevy Cavalier for $10,000. The payments were high for me at the time at $250 a month for 48 months. But, when I looked at the car I fell in love with it and the payments didn't seem that bad. Three years in I was still paying that high payment and it was much harder to justify.So, when it came time to buy a $38,000 car I put $20,000 down and ended up with a ~$350 a month payment on a 60 month loan. My plan is to pay $500 a month and try to pay it off in 36 months.I, too, make a good living (married, no kids, wife makes decent money). $800 a month doesn't seem bad for a car that is shiney and new, but like I said that's a lot for a car that has some years and miles on it. I'm just surprised people arn't putting more down, that is all. What kind of interest rates are you people seeing with no money down and 6 year loans??? To each his own!
 
1 - 20 of 33 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top