Current Events > Is 800 dollars a month

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GateOfDoom
01/12/22 11:19:47 PM
#1:


For a car payment to.much?
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Ushiromiya
01/12/22 11:20:29 PM
#2:


Yeah

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TreyFlowers
01/12/22 11:20:35 PM
#3:


close to 10k a year, how long is the loan?

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Dakimakura
01/12/22 11:20:35 PM
#4:


Nah a Ferrari is probably worth it.

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Jetblackmoon
01/12/22 11:20:36 PM
#5:


Depends on how much you make, but personally I'd say yes.

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#6
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VipaGTS
01/12/22 11:22:01 PM
#7:


Yes. We're you not able to put anything down or have any bit of collateral?

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Veggeta_MAX
01/12/22 11:23:05 PM
#8:


I paid like 280 a month for my Corolla for 7 years.

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GateOfDoom
01/12/22 11:23:50 PM
#9:


It's for 6 years didn't put anything down vehicle was about 50000 intrest rate 5.39. Can I go back amd put 20000 down and get this thing lower?
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Deleted-
01/12/22 11:23:51 PM
#10:


Anything over 550 is too much
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#11
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#12
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VipaGTS
01/12/22 11:25:33 PM
#13:


GateOfDoom posted...
Can I go back amd put 20000 down and get this thing lower?
did they not discuss this with you while in financing?

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#14
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TreyFlowers
01/12/22 11:27:33 PM
#15:


GateOfDoom posted...
It's for 6 years didn't put anything down vehicle was about 50000 intrest rate 5.39. Can I go back amd put 20000 down and get this thing lower?

Have you already signed the contract?

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MacadamianNut3
01/12/22 11:28:17 PM
#16:


Try putting 10k down instead of 20k

But yeah 800 a month is insane. My max would be $600 but I'd feel like an idiot for 5-6 years. I still want a Lexus NX450h+ tho

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Axiom
01/12/22 11:29:05 PM
#17:


GateOfDoom posted...
It's for 6 years didn't put anything down vehicle was about 50000 intrest rate 5.39. Can I go back amd put 20000 down and get this thing lower?
Doubtful. If you could put that much money down in the first place why didn't you
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The_Critic
01/12/22 11:29:16 PM
#18:


Depends on what you prioritize. Id never have more than 10% of my take home on transportation. If youre making after tax and 401k more than 10k, go ahead. Remember insurance and tax as part of the transportation cost.
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GateOfDoom
01/12/22 11:30:04 PM
#19:


TreyFlowers posted...
Have you already signed the contract?
Yes
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Axiom
01/12/22 11:31:09 PM
#20:


GateOfDoom posted...
Yes
Only thing you can really do at this point is pay that on the loan. Hope you didn't get it from a place that penalizes early payments
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#21
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tripleh213
01/12/22 11:31:39 PM
#22:


Way too much bruh. You screwed up bad.

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Deleted-
01/12/22 11:31:54 PM
#23:


68k? Wowzers
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TreyFlowers
01/12/22 11:32:59 PM
#24:


GateOfDoom posted...
Yes

Is there any penalties to paying ahead on the loan? ie can you put your 20k into the loan right now?

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GateOfDoom
01/12/22 11:33:21 PM
#25:


[LFAQs-redacted-quote]

But can't I refinace and get it lower?
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Dakimakura
01/12/22 11:33:39 PM
#26:


You can pay ahead of the loan to lower the total interest you pay.

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ncsonic
01/12/22 11:39:54 PM
#27:


damn my last car loan was only 2.5%

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GateOfDoom
01/12/22 11:44:59 PM
#28:


Looks like I'm screwed
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Buzz Killjoy
01/12/22 11:45:57 PM
#29:


Holy shit man, what kinda fucking car did you buy

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kingdrake2
01/12/22 11:46:07 PM
#30:


GateOfDoom posted...
Looks like I'm screwed


oh well. we'll learn from this.
i made mistakes too. i overspent on a POS computer.

overpayed by 50% in my younger years.

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Rapid99
01/12/22 11:47:22 PM
#31:


Any criticism at this point wouldn't do much so I'll just say this:

Bruh

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SauI_Goodman
01/12/22 11:47:56 PM
#32:


good grief

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Prismsblade
01/12/22 11:58:07 PM
#33:


GateOfDoom posted...
But can't I refinace and get it lower?
If you can find a new bank willing to take on the loan. Yes. But it's a risk I doubt many will take. When i was young and dumb I had a car payment of around $550 a month.

Managed to refinance it to around $340, but I was in the army then, through Navy Federal.

If I was in that predicament in the real would I probably would have been fucked.

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GateOfDoom
01/13/22 1:17:57 PM
#34:



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AngelsNAirwav3s
01/13/22 1:20:08 PM
#35:


You should have just leased a car

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I4NRulez
01/13/22 1:32:29 PM
#36:


do you have bad credit? The only time ive seen payments that high for average people is when dealers take advantage of bad credit and have them pay stupid interest rates with high monthlys. My exs friend was duped into a 600 dollar a month payment for a Scion TC

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Talib_21
01/13/22 1:44:12 PM
#37:


I thought 300 plus 100 for insurance was outrageous, and thats for four years.

How much is your insurance a month?

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Cobra1010
01/13/22 2:12:55 PM
#38:


You're letting people profit off you for just letting you pay in installments.

If you are rich enough, just pay the lot in full.

Money lending is the scummiest business in existence.

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