How Much Do You Pay A Month For Your Car?
#16
#17
Three Wheelin'
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Purchased for 105K with payments of $1750/mo with $10,000 down and paying it down at $3000.00/mo. When I calculate how much interest I will pay if I carry the loan to term it makes me sick; hence, the reason this vehicle will be paid of in another 15 months. In addition, I keep my 911 cars for a very long time.
#18
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There are endless discussions and opinions on this forum about lease versus finance versus cash versus swap versus rent versus borrow versus steal versus build-it-yourself. As always, you need to figure out what works for you and what you are most comfortable with.
For lease calculations, www.leasecompare.com is a good site. For financing calculations, www.bankrate.com works well. Another financing option that Porsche offers is the balloon approach (lower monthly rates, but probably typically not recommended because the interest rates are really high) - more info on the website.
When playing with the numbers, depending on the approach you choose, don't forget to include other costs such as sales tax, gap insurance, acquisition fee, etc.
Also, keep in mind costs such as depreciation, fuel, insurance, and maintenance. If you search this forum for terms such as cost per mile, cost of ownership, insurance, leasing, finance, tires, and alike, you'll get a better idea of what you'll be looking at in total monthly expenses.
All the planning and considerations for your first Porsche, there's nothing quite like it, and you will always remember it. Have fun!
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P.S.: Russo, I think you are the first one I've seen on here from the Valley. I lived down there for 6.5 years (Edinburg/McAllen).
#19
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Wolfgang - GREAT call on the Bankrate Auto Calculator. I've used for my past 4-5 cars and it is typically within pennies of my actual payment. I like it because it tells me I can afford a Turbo.
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#20
Three Wheelin'
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Soulteacher. There are a couple of us Porsche boys on this board from the valley. Curious, where are you living now? I will be honest with you, I absolutely hated this place when I first moved down here 10 years ago. However, know its my home, heck it has blessed me with a successful practice that allows my indulgence in Porsche's.
#21
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Ferrari, sorry for hijacking! Chris, bankrate.com rocks! It told me I could afford more house and so I started building...
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#22
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#23
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Guys!
Cut the OP a break here!
If he really owns a Ferrari F430, as his screen name would imply (nothing in profile), he has already suffered ~$100,000 loss over the last several months. OUCH!
It would appear he now wants to FINANCE a new 997! Slow learner.
Cut the OP a break here!
If he really owns a Ferrari F430, as his screen name would imply (nothing in profile), he has already suffered ~$100,000 loss over the last several months. OUCH!
It would appear he now wants to FINANCE a new 997! Slow learner.
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Uhm....... is leasecompare.com using FULL sticker price to quote er what?
According to the numbers I ran it's off anywhere from $115 to $310/mo. ouch. On a ML.350 09.
According to the numbers I ran it's off anywhere from $115 to $310/mo. ouch. On a ML.350 09.
#25
Instructor
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As said before, there are numerous posts about cash buy vs. finance vs. lease. There are also, unfortunately, lots of threads on what is deemed affordable and who can afford what.
There is no answer to your question that can really serve you any good. The real "cost" of anything is what you give up to spend it. If a cash buy drains your bank account or if a monthly payment leaves little margin for other fixed expenses and others things you normally buy, then the cost is too high. If not, well then it's probably OK.
Simply learning other people's monthly cost or how much cash they parted with up front, is really of no value other than just pure curiosity. The better question that has also been addressed several times is what % off of MSRP people received at various times. That gives you what you need to populate the calculators and come up with a monthly $$ figure or a pure upfront buy number.
Good luck.
Kevin
There is no answer to your question that can really serve you any good. The real "cost" of anything is what you give up to spend it. If a cash buy drains your bank account or if a monthly payment leaves little margin for other fixed expenses and others things you normally buy, then the cost is too high. If not, well then it's probably OK.
Simply learning other people's monthly cost or how much cash they parted with up front, is really of no value other than just pure curiosity. The better question that has also been addressed several times is what % off of MSRP people received at various times. That gives you what you need to populate the calculators and come up with a monthly $$ figure or a pure upfront buy number.
Good luck.
Kevin
#26
GT3 player par excellence
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it depends on
credit history
equity contribution (capital cost reduction)
money factor that you got reamed for
annual mileage
lease term 1, 2, 3, 5 years
#27
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and it's not always smart to write a chk to buy a car. have you seen bmw rates now? why would ANYONE pass up 1.9% financing even if you had $700B sitting in the bank?
#28
#29
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Whoaaaaaaa there, sport.
Buying a membership is not a requirement for posting here. It's only a requirement if you wish to post items for sale and take advantage of other benefits that full membership provides. But it's free to post here as long as you want to without needing to pay, in case you were misinformed.
Rennlist is no longer a mom-and-pop operation but one of many automotive communities owned by a major corporation called Internet Brands who happens to own a large number of these online communites: http://www.internetbrands.com/ib
Paying for a membership is a pure waste of money if you don't intend to take advantage of the benefits that premium membership offers.
Buying a membership is not a requirement for posting here. It's only a requirement if you wish to post items for sale and take advantage of other benefits that full membership provides. But it's free to post here as long as you want to without needing to pay, in case you were misinformed.
Rennlist is no longer a mom-and-pop operation but one of many automotive communities owned by a major corporation called Internet Brands who happens to own a large number of these online communites: http://www.internetbrands.com/ib
Paying for a membership is a pure waste of money if you don't intend to take advantage of the benefits that premium membership offers.
#30
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Or they want to leave that impression on the Rennlist.