so i got a call from my dealer today.

UNKNOWN_370 · 02-20-2012, 11:08 AM

Quote:

Originally Posted by gbrettin

People totally missed the point you double up on payments. My guess is that you can make a low payment if you don't have the extra cash. On the months you are flush with cash you put a few extra thousand against the loan.

Personally I think you should hold on to your car. Drive the car while it's paid for and save the extra cash that you would be using on the payment and then trade up later.

Mustang has a way of subtle trolling and people jumping on the bandwagon. Meanwhile they are not reading everything. They are just looking to argue and insult.

I thought about it... I'm going to keep my Z. I'll just mod as planned. When I'm done paying this one I will get either a used EVO or GT-R next. If the next gen Z goes turbo I won't trade. Ill will just buy another too Z.

m4a1mustang · 02-20-2012, 11:18 AM

Quote:

Originally Posted by UNKNOWN_370

Mustang has a way of subtle trolling and people jumping on the bandwagon. Meanwhile they are not reading everything. They are just looking to argue and insult.

I thought about it... I'm going to keep my Z. I'll just mod as planned. When I'm done paying this one I will get either a used EVO or GT-R next. If the next gen Z goes turbo I won't trade. Ill will just buy another too Z.

Haha, I don't troll anyone. I'll admit when I'm wrong and it appears that I missed the early payoff part. So if your loan structure allows the longer term to come out cheaper as long as you pay it in half the time, more power to you.

You know what happens when someone is too stubborn to admit they're wrong... I think we've dealt with that before

. I certainly won't do anything like that... if I'm wrong I will admit it openly.

And bandwagon? You are talking out of your ***.

m4a1mustang · 02-20-2012, 11:19 AM

Quote:

Originally Posted by somatic

oooooooo i get it now

i was over thinking it lol
3 year loan paid in three years = paying all interest
6 year loan with similar interest paid off in 3 years = half the interest paid

That's what I was thinking too.

UNKNOWN_370 · 02-20-2012, 11:28 AM

Quote:

Originally Posted by m4a1mustang

Haha, I don't troll anyone. I'll admit when I'm wrong and it appears that I missed the early payoff part. So if your loan structure allows the longer term to come out cheaper as long as you pay it in half the time, more power to you.

You know what happens when someone is too stubborn to admit they're wrong... I think we've dealt with that before

. I certainly won't do anything like that... if I'm wrong I will admit it openly.

You know what?? I don't care if you think you are wrong or right. You always miss the point on my posts cuz all you look for is an argument and to insult. The stupisdest thing you ever heard???? You don't even ask for clarification. You just went on a rant.

You were wrong even if you were right. You create tension and are becoming a negative influence on the forum. Those kind of premature insults aren't necessary.

This is what's wrong with this country. No tolerance and ignorance. And yes you can know everything about cars but still be ignorant mustang... Your insecurities preclude you with the way you talk to me on this forum. Next time just ask instead of insult.

m4a1mustang · 02-20-2012, 11:31 AM

Quote:

Originally Posted by UNKNOWN_370

You know what?? I don't care if you think you are wrong or right. You always miss the point on my posts cuz all you look for is an argument and to insult. The stupisdest thing you ever heard???? You don't even ask for clarification. You just went on a rant.

You were wrong even if you were right. You create tension and are becoming a negative influence on the forum. Those kind of premature insults aren't necessary.

This is what's wrong with this country. No tolerance and ignorance. And yes you can know everything about cars but still be ignorant mustang... Your insecurities preclude you with the way you talk to me on this forum. Next time just ask instead of insult.

Sorry if I offended you.

I don't think there's any tension between me or anyone else though. You think I'm out to get you all the time.

Red__Zed · 02-20-2012, 11:32 AM

Red__Zed · 02-20-2012, 11:39 AM

Unknown, I still don't get where your numbers are coming from...any chance you can spell it out? Maybe in excel?

UNKNOWN_370 · 02-20-2012, 11:39 AM

Quote:

Originally Posted by Red__Zed

Where one goes, the other follows. Why not the two of you get married.

gbrettin · 02-20-2012, 11:40 AM

It sounds like you two (mustand and unknown) need to put on sumo suits and wrestle it out.

And what is this "Char-Burger" I hear of?

m4a1mustang · 02-20-2012, 11:43 AM

Quote:

Originally Posted by gbrettin

It sounds like you two (mustand and unknown) need to put on sumo suits and wrestle it out.

And what is this "Char-Burger" I hear of?

I'd still buy anyone on this forum a beer if they ever wanted to meet up.

And charburgers... gotta talk to Ken about that.

UNKNOWN_370 · 02-20-2012, 11:48 AM

Quote:

Originally Posted by gbrettin

It sounds like you two (mustand and unknown) need to put on sumo suits and wrestle it out.

And what is this "Char-Burger" I hear of?

Naaah.... ufc cage match to the death... I play for keeps. Lol.

bloodo · 02-20-2012, 11:51 AM

It is good that you have your payments planned out. I have seen many cases where people don't stick to it and get the short end of the stick. So good luck to you sir.

Red__Zed · 02-20-2012, 11:57 AM

Quote:

Originally Posted by UNKNOWN_370

Where one goes, the other follows. Why not the two of you get married.

Or you could just answer my (completely legitimate) question, rather than risking a ban with insults.

Based on the number when I got my Subaru, there's usually at least a percentage point difference between a 3 yr and a 6 yr loan. Let's go with 2% and 3% to keep the math easy.

A $30,000 loan at 2% for 3 years will results in monthly payments of $859.28, and total interest paid of $933.99.

The same amount, at 3% over six years results in payments of $455.81, and total interest of $2818.34. Double up on payments, and you have monthly payments of 911.62, and total interest paid of $1345.61.

In sum, unless you pay more than $411.62 extra in finance charges (find a new bank), this six year loan scheme doesn't seem to work.

To add insult to injury, there's usually more than 1PP gain going from 3 to 6 years...furthering the spread.

UNKNOWN_370 · 02-20-2012, 12:07 PM

Quote:

Originally Posted by Red__Zed

Or you could just answer my (completely legitimate) question, rather than risking a ban with insults.

Based on the number when I got my Subaru, there's usually at least a percentage point difference between a 3 yr and a 6 yr loan. Let's go with 2% and 3% to keep the math easy.

A $30,000 loan at 2% for 3 years will results in monthly payments of $859.28, and total interest paid of $933.99.

The same amount, at 3% over six years results in payments of $455.81, and total interest of $2818.34. Double up on payments, and you have monthly payments of 911.62, and total interest paid of $1345.61.

In sum, unless you pay more than $411.62 extra in finance charges (find a new bank), this six year loan scheme doesn't seem to work.

How is it an insult??? I'm just sating the both of you end up in the same thread backing each other up... that's a fact not an insult and this thread is now dead... you're late to the party. Good day.

To add insult to injury, there's usually more than 1PP gain going from 3 to 6 years...furthering the spread.

How is it an insult??? I'm just saying the both of you end up in the same thread backing each other up.. you can follow all my posts where mustang argues with me and you are right there inciting and backing up his statements... . that's a fact not an insult and this thread is now dead... you're late to the party. Good day.

m4a1mustang · 02-20-2012, 12:07 PM

As long as the spread is close enough (and it's possible depending on who you are financed through and what your credit is like) you can save a bit on interest. It's not much... I figure around $200 or so comparing a 36 month $20k loan vs a 60 month paid in full at the same rate, but perhaps the most important thing is that it gives you the flexibility to pay later if you need to.

My guess is Unknown has good credit. If you have good credit the rate curve can be much flatter than someone with not so great credit.

Anyways, I really do apologize for jumping on you, Unknown. I missed the double-payment part and just assumed that you were using the full terms on both loan comparisons. I was wrong. I mean it when I say I'm sorry.

02-20-2012, 12:07 PM	#90 (permalink)
m4a1mustang A True Z Fanatic Join Date: Feb 2009 Location: Northern VA Posts: 55,385 Drives: on two wheels Rep Power: 6962	As long as the spread is close enough (and it's possible depending on who you are financed through and what your credit is like) you can save a bit on interest. It's not much... I figure around $200 or so comparing a 36 month $20k loan vs a 60 month paid in full at the same rate, but perhaps the most important thing is that it gives you the flexibility to pay later if you need to. My guess is Unknown has good credit. If you have good credit the rate curve can be much flatter than someone with not so great credit. Anyways, I really do apologize for jumping on you, Unknown. I missed the double-payment part and just assumed that you were using the full terms on both loan comparisons. I was wrong. I mean it when I say I'm sorry. __________________ - Steve Zs & Coffee - Saturdays at 10AM in Fairfax, VA and Columbia, MD (Click the banner!) LIKE us on Facebook! Last edited by m4a1mustang; 02-20-2012 at 12:10 PM.

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