Purchase new car 2014 - 426$ month payment, ok or not?
Ok, i just got my new crd honda crv awd 2014
i'm no credit good, and my brother co-sign for me
8 % interest, that hight,
and monthly i make payment 426 dollar for 72 months
how is that, ok, good, no good,
i never have credit before,
426 months
how is it
If you want to be rich someday, don't buy new cars.
$426x72=30,672 + insurance for a car that might be worth $5000 when you finish paying for it.
Really bad idea. 8% is too high and 6 years is too long.
http://www.daveramsey.com/article/drive-free/
Not. New car for one thing; 1st owner has to pay the hidden cost of depreciation, often 10% of the vehicle's cost.
2-3year old car often has the depreciation paid off.
so look for used in excel condition, mi <30k. That'd prob be under FACTORY [not 3rd party] warranty. Usually you can extend the warranty timewise & coverage wise.
it's almost always best to get the bumper to bumper level warranty, not lower level drivetrain/powertrain w/ many exclusions.
save more $1000s buying the above type car from private seller.
talk to Honda dealer finance managers abt warranty details; 2nd opinion at least. Try to get copy of current warranty.
What is "426$?" In the USA the dollar sign goes before the numbers. Based on your writing this was a mistake. A big costly mistake. This is $5,000 a year just on the car payment alone. You seem not old enough to drive.
No one can tell you that. Its whatever its worth to you now, since you and your brother apparently already signed the dotted line.
We don't know what the vehicle cost and what other things were factored into the deal, downpayment, etc. Nor your financial situation and ability to pay the monthly note. Your interest rate is high at 8%. Meaning your brother's credit ain't the best either.
I bought a honda 2 yrs ago. Fully loaded v6 honda accord 4door. 421/mo @1.9%. 8yr/120k mile warranty, car care, GAP, and all services paid for up to 3ys/30kmiles. Maybe that will give you an idea of how good a deal you got. Don't go into dealerships looking thirsty or desperate. They see you coming a mile away.
So I hope you really love your car, and be making double payments, and try to shop around for a refinance to a lower rate if you can in about 9 months.
- Which car to buy: Hyundai Elantra 1.6 HIgh spec 2014 vs Honda CIty 1.5 E 2014? Hi. Considering whether which is a better car? A Honda City E or Hyundai Elantra Gamma 1.6L high spec or Hyundai Elantra Gamma 1.6L standard auto? I know each has its own strength and weaknesses but would like to hear each expert own opinions. Price range are not far. Elantra Rm 98 k ( discount 8 k, after rm 90 k ++ ) CIty rm 83 k ++Thanks.
- I have just changed the battery in my honda cbr1000rr after one month and it not firing up? It a honda cbr1000rr 2008 model. The bike's battery has been dead for more then a month… And it was parked in the sun for two months. The battery is good now but the bike won't start. It just keeps trying but it doesn't.
- What is a good monthly lease payment for new 2015 Honda CRV exl AWD- 36 month lease/12k miles? What is a good monthly lease payment for new 2015 Honda CRV exl AWD-- 36 month lease/12k miles? thanks for the reply… My credit score is excellent. I referred to monthly payment since its my first time leasing and I not familiar with terms like money factor and residual. I simply look at the down payment and the monthly payment that I have to make per month.
- Purchase new car finance 8% interest 72 month good or not? I just get honda crv 2014, brother co-sign for me honda.com website show 2 % , but when they check credit and finance is 8 % is that a lie, how come website show 2 % they told me 2% for exelence credit but website doesn't say that, i though 2 % is for everyone when credit approve so 8 % is it good or no good to get, i feel like that too much