But anyone know if I'll be able to afford this car with a $120/month and a less than $700 down pay ? [IMG]But anyone know if I'll be able to afford this car with a $120/month and a less than $700 down pay ? http://www.itr-nc.com/images/members/snopass.jpg ? [/IMG]

 

and can someone tell me the exact model, year, setup of this car? thx

 

its a 98+ type R, i couldnt tell you the setup of the car just by looking at it, looks pretty much stock except for the clear corners and it might be dropped.

 

there you go

 

pretty picture. nice car, too.

 

Uh...what are you asking here? It sounds like you have a certain amount you can afford, and if this car exceedes that amount, you can't have it. Well, first of all, what is the asking price of this car? Is it a private party or dealer?
With your budget of $120 per month, even if the car was sold for $15,700 (which is probably far under what the true price is), you would be paying for 10.5 years to pay it off. That's NOT including interest, which would make these numbers much worse. I don't know of any bank that's willing to do a loan for that long of a period. Either come up with more for a DP, find a way to make higher monthly payments, or look for a cheaper car.

 

I don't think a Type R is the car for you.

The odds of that car being $120 a month, with less than $700 down are pretty slim.

 

ok, let me try to help you out a little here. At an interest rate of 5.9% (Honda Certified cars qualify through American Honda, I sell them) you're looking at $20-22 a month for every $1000 on a 60 month loan. That means that your looking at a car that will be around $6700 after taxes, tags, and a doc fee (if it's a dealer). Now, consider that 5.9 is lower than most banks have and you're pretty much out of luck. Also consider that Hondas have the highest resale value of any car and you can figure that you're going to be buying an early 90s model at best which is going to be hard as hell to get financed (most banks do not like to finance a car more than 5 years old depending on mileage so you'd be looking at a '97 or so). Hate to say it man but you need to save up some more cash or try to rebudget so you can pay more a month.

 

Also - don't forget the outrageous insurance rates on Integras because people like to steal them - and Honda makes it easy for them to accomplish this.

 

125 month loan anyone?

realistically speaking, look for more closer to 330/month, with only 700 down, 60 month loan.


[Modified by 00-0187, 10:25 AM 5/6/2002]

 

ok i got a 94 LS payed like 6800 put 1500 down and still pay 135 a month for 4 or 5 yrs i dont remember, at 9%interest i believe

so i would say hell no to the 120 a month 700 down

 

Jeez I don't think I could stand to pay for a car for 5-6 years unless it was brand new. I had to get a $4500 loan for my car and I'm paying it off in only 15 months, due to my work/school situation. It is somewhat taxing on my income but I get by. Only 5 payments left!

 

Hell, if that were possible, every integra you'd see on the road would be Type-R's.

Unless it's salvaged, has no motor....etc or such flaws, you'll never be able to afford one at that rate.

 

i just needed a car, who cares how long i pay the lower the payment the beter...cause im just gonna get a new one once i graduate

 

who cares? well if you are rich and you dont mind the extra amount of money that you will through away at the loan % rather than the car...then i guess you wouldnt care

 

well, you see, there's this little thing called interest. If you don't care how much you pay for the car then go ahead and get it. One thing you should know 1st: YOU WILL NEVER SELL IT. Well, at least without putting some serious cash out of pocket to pay off your 10 year loan. The car will be worth 1/3 of what you owe on it if you get a loan for <$200/mo. with $700 down. Think about it some. No, actually go talk to somebody who can tell you how stupid an idea this is.

 

what ITR? all i see is snow

 

uh, no. I pay $370/month for a $16,700 GSR with a 5 year loan. My interest rate isn't great because I had little credit. $120/month gets you maybe a $4000-6000 car?

 

that if you have good credit

 

Try this.... www.duncanauto.net. Click on Finance, then on Calculator.


[Modified by ebelp, 3:55 AM 5/7/2002]


[Modified by ebelp, 3:56 AM 5/7/2002]

 

then what kind of car can i get? are there any good somewhat okay sports cars that are in $6k-8k range?