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Discussion Starter · #1 · (Edited)
so as you all know i am trying to save 3 grand and then get 3 grand out of my car so i can have six g's going towards the DP. After that my payments will be 550 with the interest rate the lowest it possibly is for me since my mom is co signing and she can get the lowest interest rate cuz of her credit. My question to you guys is even if i take the six g's toward the DP instead of the minimum 10% that is required so i could get the car sooner and i could easily get the 10% if i sold the car i have now. would it make my payments that much of a difference? if so then i am going to save the 3 g's as orignally planned but if it isnt going to make that much of a diff. then i maybe gettin the car sooner than i think. what do you guys think? and for those people who say pay cash i dont have that option :wave: . Obviously it would be cheaper to get a 05 than an 06 but would it make a diff on my payments which year i would get?
 

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Pimpin 420 said:
so as you all know i am trying to save 3 grand and then get 3 grand out of my car so i can have six g's going towards the DP. After that my payments will be 550 with the interest rate the lowest it possibly is for me since my mom is co signing and she can get the lowest interest rate cuz of her credit. My question to you guys is even if i take the six g's toward the DP instead of the minimum 10% that is required so i could get the car sooner and i could easily get the 10% if i sold the car i have now. would it make my payments that much of a difference? if so then i am going to save the 3 g's as orignally planned but if it isnt going to make that much of a diff. then i maybe gettin the car sooner than i think. what do you guys think? and for those people who say pay cash i dont have that option :wave: . Obviously it would be cheaper to get a 05 than an 06 but would it make a diff on my payments which year i would get?
All depends on purchase price/interest rate/term length....a rough estimate is that your payment will usually change about $20 per $1000 in principal...so if you are going to cut your down payment from $6k to $3k you can expect your payment to go up about $60/month.

When I was your age I was working 40hours/week to pay for a used Nissan Maxima....man how times have changed....My folks would have laughed me out of the room if I asked them to co-sign for a $40k car...That being said, more power to you bro, if you can really take care of that payment then go nuts and enjoy your car.
 

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Money

Keep the money in your pocket!
If times get hard, how many payments will that extra $3000. make?
 

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Pimpin 420 said:
so as you all know i am trying to save 3 grand and then get 3 grand out of my car so i can have six g's going towards the DP. After that my payments will be 550 with the interest rate the lowest it possibly is for me since my mom is co signing and she can get the lowest interest rate cuz of her credit. My question to you guys is even if i take the six g's toward the DP instead of the minimum 10% that is required so i could get the car sooner and i could easily get the 10% if i sold the car i have now. would it make my payments that much of a difference? if so then i am going to save the 3 g's as orignally planned but if it isnt going to make that much of a diff. then i maybe gettin the car sooner than i think. what do you guys think? and for those people who say pay cash i dont have that option :wave: . Obviously it would be cheaper to get a 05 than an 06 but would it make a diff on my payments which year i would get?
Hey again Jeff!....What time is it :wave: :drive: :headbang: :nana: :439:

Anyway check your PM's ; my answer is too long for here.
 

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Pimpin 420, this is for u.

Ill be the one to tell you exactly as it goes, cause i was in the same predicament when i bought my 06 300C.
First, i put a DP of $8000, i traded my car in for $4500, i got a $500 rebate. That makes it $13000. The car is under my brothers name and my interest is 10.1%. The car was $36,755 and i got the 7/77 for $2500 or so.
My car came out to about $41,000.
I am now payng $626.47 a month, but for me it is well worth it.
I am trying to Re-Finance the car right now so i can get my interest rate lowered.
Let me know how it goes.
BTW, the car i traded in was a 98 Accord Fully Loaded with about 80,000 miles, what do u got?

Pimpin 420 said:
so as you all know i am trying to save 3 grand and then get 3 grand out of my car so i can have six g's going towards the DP. After that my payments will be 550 with the interest rate the lowest it possibly is for me since my mom is co signing and she can get the lowest interest rate cuz of her credit. My question to you guys is even if i take the six g's toward the DP instead of the minimum 10% that is required so i could get the car sooner and i could easily get the 10% if i sold the car i have now. would it make my payments that much of a difference? if so then i am going to save the 3 g's as orignally planned but if it isnt going to make that much of a diff. then i maybe gettin the car sooner than i think. what do you guys think? and for those people who say pay cash i dont have that option :wave: . Obviously it would be cheaper to get a 05 than an 06 but would it make a diff on my payments which year i would get?
 

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Discussion Starter · #7 ·
i have a 99 Ford Explorer Sport. I think its fully loaded and has about 91k on it. i have seen the same cars with about the same mileage and not as in good condition in auto trader going for about 7500-9000 and my current loan that i have left is 4750 so im hoping that when i save my 3gs and then sell my car i have enough to pay off the loan and put toward my DP as well. also i dont have to necessarily have an 06 even if i could get a BB 05 that would be fine with me.
 

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Pimpin 420 said:
i have a 99 Ford Explorer Sport. I think its fully loaded and has about 91k on it. i have seen the same cars with about the same mileage and not as in good condition in auto trader going for about 7500-9000 and my current loan that i have left is 4750 so im hoping that when i save my 3gs and then sell my car i have enough to pay off the loan and put toward my DP as well. also i dont have to necessarily have an 06 even if i could get a BB 05 that would be fine with me.

Hey Jeff I doubt you can find a new '05, becasue the '06 has been out since March and the 300C is selling too well to be sitting around that long. If you find a used '05 then you could get the 7/70 factory powertrain warranty BUT you have to be the 2nd owner ( 3rd owner can't get it) and you gotta pay $150 to transfer it within 30 days of buying the car.
 

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Pimpin,
I was thinkin the exact same thing about the 05 and 06.
There was a 05 and 06 on the lot, and i was gonna go with the 05 at the time (some time in may) but the only difference was that the 7/77 warranty came with the 05 and not the 06. Then my uncle told me that y would i buy a 05, its already a year old, its been sitting on the lot that long, so i said F*** it, 06 it is for only $2500 more and thats like a couple dollars extra a month, no biggie.
Dont jump into the purchase, get what u want, not what they have.

Pimpin 420 said:
i have a 99 Ford Explorer Sport. I think its fully loaded and has about 91k on it. i have seen the same cars with about the same mileage and not as in good condition in auto trader going for about 7500-9000 and my current loan that i have left is 4750 so im hoping that when i save my 3gs and then sell my car i have enough to pay off the loan and put toward my DP as well. also i dont have to necessarily have an 06 even if i could get a BB 05 that would be fine with me.
 

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Now I'm just saying this having gone through the same perdicment when I was your age and am certain it's not something you'll want to hear. In your mind, it all sounds like it "will" work. Because you want/NEED it sooo much.

When it got down to it and I saved up my hard earned money for a DP and went to talk with the sales guy and started talking numbers, the firgures added up real quickly. Alot of things I didn't account for, as well as my payments being ALOT higher than I thought. But I needed that car and I agreed anyhow and with the help from my mom as a co-signer. And pretty soon I realized I was WAY over my head. You also gotta think, gas and tax, mods and maintainence. I ended up having to give up the car after 10 months, which was rather embarassing. My mother could have bought 3 of them without batting an eye, but she made me learn this hard lesson on my own. Which at the time I thought was cruel, but thank her today for. This was 15 years ago.

All I'm trying to say is be realistic with your wants and needs and don't "force" anything into happening. I litertally had to "slave" to make car payments and even had to take up a second job which was the kiss of death. I had a nice car, first on the block with it, and pretty impressive for a 16 year old (at the time) to have a brand new turbo charged car. But was too broke to drive it, let alone hang out with the rest of my friends going out to movies and trips and such.

It's very nice that you are so ambitious at that age, but part of growing up is fully realizing your capabilities and not overextending yourself. either case I hope you find the knowledge I'm trying to share with you.

Good luck with whatever you decide. My advise, get a touring and save your money for school. Then when you get out, buy what you really want. Beleive me, life is ALOT more fun after highschool, especially when you have money and a college degree no one can take from you.
 

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Ari said:
. Beleive me, life is ALOT more fun after highschool, especially when you have money and a college degree no one can take from you.
So true. this is the best advise given so far. I would say forget the touring - find a used piece of crap and go to school. After school you will have more money and will not have this discussion.
 

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Discussion Starter · #12 ·
could i still do all the mods to a touring that i wanted to do to a C. Like a new grill,exhaust,chrome pillars,chrome door handles,lowering it and getting some 22's on it. pretty much if all i have to do is sacrifice the hemi for the touring can i still do all the mods to it? cuz if that is the case i really dont care about racing on the street i just want to pimp out my ride. so could i still do that w/ the touring even tho i wouldnt have the C?
 

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I don't see why not, but have you heard the magnaflow V6 sound clips? Nice, but it's not that V8 sound IMHO. Why don't you get a Mustang GT?
 

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Pimpin 420 said:
could i still do all the mods to a touring that i wanted to do to a C. Like a new grill,exhaust,chrome pillars,chrome door handles,lowering it and getting some 22's on it. pretty much if all i have to do is sacrifice the hemi for the touring can i still do all the mods to it? cuz if that is the case i really dont care about racing on the street i just want to pimp out my ride. so could i still do that w/ the touring even tho i wouldnt have the C?

Hell yeah you can Jeff! What Ari said was very sound advice. Same advice my dad gave me when I was your age and now I can see how right he was about not getting saddled with car payments. If it's a strain to make the payments on the car you are not going to get any enjoyment out of it anyway and you'll end up hating it. Another thing; No matter how hot these cars are selling, they WILL depreciate. In 1989 I HAD to have a Thunderbird SuperCoupe - - but they were $20,000 which was WAY out of reach for me. Well in 1999 I bought a 'like new' used one for $4000. Drove it for 6 years and just sold it for $2600 when I got my 300C. In 5 years you could buy a used 2005 "C" for less than half what they cost new and from that point on the depreciation is not so severe. So be careful is all we are saying.
 

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Discussion Starter · #15 ·
2 things. marlin i dont like mustangs at all never have and never will. and yea if i did get a touring the payments wouldnt be as bad as of a hassel as a C would i could actually have fun with the car but like i said power under the hood isnt that big of a deal to me just as long as my car is pimped. so what im askin is could i get all that stuff done that i wanted to a C to a touring? if the answer is yes then i will probably get the touring just so as long as you guys dont pass judgement on me cuz i have a touring and not a C :sly:
 

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Pimpin 420 said:
2 things. marlin i dont like mustangs at all never have and never will. and yea if i did get a touring the payments wouldnt be as bad as of a hassel as a C would i could actually have fun with the car but like i said power under the hood isnt that big of a deal to me just as long as my car is pimped. so what im askin is could i get all that stuff done that i wanted to a C to a touring? if the answer is yes then i will probably get the touring just so as long as you guys dont pass judgement on me cuz i have a touring and not a C :sly:

You can make a touring look just as "pimp" as a C. And the 3.5 will definitely get out of it's own way too, hemi or not. I'd probably stay away from the base model as I've heard some "not good" stuff about the 2.7 V6. But yeah, if you aren't hung up on the hemi ( in my case it HAD to have a hemi :) ) then nobody but you will no the difference. It will probably save you some $$ on insurance too, which is a big consideration at your age.
 

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Discussion Starter · #17 ·
no doubt about the insurance i was estimating that if i got the c my insurance would be around 500 or 600 dollars. but yea if i can get the exhaust for a touring and then make it look as pimp as i would do to the C that would be fine with me. what do you think kev as a final answer you think i could make it look like a C and no one but me would know?
 

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Pimpin 420 said:
no doubt about the insurance i was estimating that if i got the c my insurance would be around 500 or 600 dollars. but yea if i can get the exhaust for a touring and then make it look as pimp as i would do to the C that would be fine with me. what do you think kev as a final answer you think i could make it look like a C and no one but me would know?
Well The most obvious differences other than the engine, are the wheels (which you are gonna change anyway even if you get a "C") the headlights (you could change these as well BUT 99% percent of the general public will not notice they are different anyway) and I'm pretty sure the touring does not have chrome door handles. But with some 22's and dark tinted windows nobody but a hardcore car guy will have a clue.
 

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IIRC there are chrome door handle pics. But yes, I'd say the touring is every bit as pimpable. In fact, spend a couple days in the so called golden triangle of washington dc (basically the nice parts of town) and you will see loads of pimped out 300 tourings.
 
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