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Ok guys here is a little back ground. I'm a 21 year old college student attending PSU. Last year I was the first to test drive a cool vanilla 300c. The first one that the town had seen. As soon as I turned the key I was in love. And as most of you can understand I've wanted one ever since. Fast forward to the present and I've come up with a plan to get an SRT8.

Finance thru CapitalOne 72 months at 5.85% Unless the dealer could beat it.

I'd put 20% down along with my trade in....a 96' Toyota Camry.

I do not have $9000 for the down payment so I'd take out a student loan.

The one I've been looking at is here: www.cfsloans.com

I'd take out roughly an $18,000 loan this would pay for the down payment along with 18months of the Capital One or dealer financing. This way during my last year of school and a few months after I'm paying just for the student loan. Saving me the big payment now.

Ok guys let me have. What do you like about this idea? Anything I didn't make clear? I know I would be paying a good amount more but I think it would be worth it for an srt8....hopefully an 05.
 

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Man am I glad I don't hafta do this with my kids yet. My daughters are 4 and 7 so I have a few years yet. Let me tell you what I think of your plan in one word : WRONG! I know we don't know each other and you are excited about the car ( I bought the 2nd MR2 in the country, I would not listen to reason) Borrowing from peter to pay paul is rarely a good Idea (transfering high interest balances on CC's has some merit). Doing it on a student loan is never a good Idea. For one even in bankrupcy that debt will never leave you. Fall behind and you may not be able to get any federal or state jobs. More importantly You are accumulating a ton of debt before you even get out school. Student loans were designed to help finance school and living expenses for those who could not afford them otherwise. This is not going to change the way you feel and you will do what you are going to do ( I know because I too would have sold my soul to buy my MR2) Only later in life do you have the ability to see what mistakes you made in the past. I have learned if you have to use "creative finacing" to purchase a car, your in over your head and you will never grasp the brass ring in life. Just in the last few years, im almost 40, have my wife and I accumulated enough finacial security for us to buy at will. We have been together for ten years, our first year of marriage we combined for $220K increasing slightly yearly until the last three years around $450k. We are just this year paying off all our debts. Mostly student loans and consumer debt (of coarse kids can be pricey :rolleyes: ). To do it over I would have been a little more conservative in my 20's and I would have come to a better place alot earlier. So does that sound enough like a lecturing father? Or a ranting Loon :D
 

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Discussion Starter #3 (Edited)
Ok so you talked me out of it....father ;) I had talked to my dad about it but it was one never to give a straight answer. But this was a pretty good answer. Only one more year of school left...I think I can wait.
 

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Great advice from the Saint. Brilliant is the man who will listen to that advice without getting aggravated and throwing the advice away.
 

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Discussion Starter #5
I kind of knew it would get shot down. But had to ask that way having some one just tell me "WRONG" I can give it up for now.

As a side note how is insurance looking for the srt8?
 

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Listen to the Saint. Don't start this part of your life in the hole for a car.
 

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JMatt said:
Brilliant is the man who will listen to that advice without getting aggravated and throwing the advice away.
This is where my brilliance has failed me several times :D
Good advice and I have made a few bad moves in my life and it always takes MUCH longer to right the wrong move than to not make the move in the first place.

Todd
 

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bts161 said:
As a side note how is insurance looking for the srt8?
It is 32% higher than my 2002 Navigator, even with a 30% safety discount. State Farm just got it added on Friday.
 

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TheSRTSaint said:
It is 32% higher than my 2002 Navigator, even with a 30% safety discount. State Farm just got it added on Friday.
Mine was $1395/year CDN, through York Fire & Casualty Insurance. My "pink card" lists it as "300C Limited"?? All they're offering is $2000 deductable for both comprehensive & collision. Their explanation was they want to cut down on frivolous claims. Guess I won't go through insurance for a windsheild, or hardly anything else for that matter. Sucks to be me sometimes. :mad:

Rambit
 

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I went to a dealership 3 days ago to look into ordering an srt-8 and they told me that they would contact me as soon as they had pricing. After reading these forums it looks as if pricing is already out? I understand that this car is in high demand, however, I'm wondering If it will be a waste of time to shop for a deal. Are all the dealership's pricing the same for a car like this. I'm a little leary of getting taken. MSRP is around $39k. I want it loaded so I was thinking I'd be paying around 45k. But I read one guys pricing details here in the states and it was around 56k!!! Also, can you lease this car?
 

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I believe that O’Brien in Indy has an SRT-8 that’s unspoken for. XCITsNU picked up an ’05 SRT from O’Brien and harrysam and I have an ’06 on order there. The ’06 can be order to your spec and it will be at MSRP. If you’re in an area that’s charging over MSRP I would suggest looking else where. Personally, I’d drive several 100 miles before I’d pay over MSRP.

I would assume you could lease the car, I’ve yet to hear of anyone that has though.
 

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bts161 said:
Ok guys here is a little back ground. I'm a 21 year old college student attending PSU. Last year I was the first to test drive a cool vanilla 300c. The first one that the town had seen. As soon as I turned the key I was in love. And as most of you can understand I've wanted one ever since. Fast forward to the present and I've come up with a plan to get an SRT8.

Finance thru CapitalOne 72 months at 5.85% Unless the dealer could beat it.

I'd put 20% down along with my trade in....a 96' Toyota Camry.

I do not have $9000 for the down payment so I'd take out a student loan.

The one I've been looking at is here: www.cfsloans.com

I'd take out roughly an $18,000 loan this would pay for the down payment along with 18months of the Capital One or dealer financing. This way during my last year of school and a few months after I'm paying just for the student loan. Saving me the big payment now.

Ok guys let me have. What do you like about this idea? Anything I didn't make clear? I know I would be paying a good amount more but I think it would be worth it for an srt8....hopefully an 05.
bts161,

you already got some great advice.

here is my 2cents (if you don't mind)

the camry should be good for some time to come...

i would recommend the 1st money you spend (less than $15 or FREE from library) should be on a book:

Andrew Tobias/"The Only Investment Guide You'll Ever Need".

Do NOT be tempted by ANY "get rich quick" book you may spot in this section, get only Andy's book & read it. Full of stuff you need to know NOW (and not wish you knew 10 yrs from now).

time is on your side.

it works - i read it some time ago & will be paying cash for my 300C. (as soon as they hurry up & build it already!)
 

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Be responsible but don’t wait too long. Start saving now and buy one in a year or two. You might find that when you’re ready to buy a nice car that the Firepower http://www.chrysler.com/autoshow/firepower/ is available.
 

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hemi-ngway said:
I went to a dealership 3 days ago to look into ordering an srt-8 and they told me that they would contact me as soon as they had pricing. After reading these forums it looks as if pricing is already out? I understand that this car is in high demand, however, I'm wondering If it will be a waste of time to shop for a deal. Are all the dealership's pricing the same for a car like this. I'm a little leary of getting taken. MSRP is around $39k. I want it loaded so I was thinking I'd be paying around 45k. But I read one guys pricing details here in the states and it was around 56k!!! Also, can you lease this car?
Pricing is out for the '05s which are all pretty much spoken for unless you can find one unsold at a dealership. I would consider a 'deal' to be MSRP for these. The MSRP is the same for all cars out of the factory. It's then a matter of whether or not the dealers choose to mark them up. Some do, some don't. MSRP is no longer 39K because of the $2,100 gas guzzler tax. And rumor has it that there will be a price increase on top of that for the new model year. Leasing? Not too sure.

Best of luck!!
 

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Discussion Starter #15
WOW...I'm insurance is pretty pricy....good thing I'm waiting ;)

raka- I'll have to get my hands on the book.

indycoder- the firepower is very nice but I'm more of a big sporty luxury sedan kind of guy. For the longest time I've wanted a 740Li or S55 but those both being way out of my price range the 300 is the next best thing. And I love the styling of the 300 more than just about anything else out on the road.

Also I see that you have an 06 on order, how much did the msrp go up?
 
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