Did Anyone Actually Get 0% Fin.. On A Evo
#17
Originally Posted by markeddy
My wife and I got our 2005 GSR w/SSL with 0% financing and then 1 month later Mitsubishi sold the loan off to another company.
685 was the taget score for the 0%.
685 was the taget score for the 0%.
#18
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I turned down the 0% for $2000.00 in free gas, put 15K down and financed the ballance @ 5.6% for 72 months. I'll pay it off in a year or less(Deo Volente!), my interest would be less than $800. $2000.00 free gas was way better than the 0%!
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My credit score is 688 and I only had credit a little over a year. No loan payments, mortgage or any of that stuff. I don't pay off full balance every month either. Bought my used 03' two days before I got word of 0% financing though. Probably wouldn't have gotten it anyways since I only work part time through college.
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Personally, putting 15k down on a car is a horrible idea since a car is NOT something that appreciates in value. You'd of been better of investing that kind of money.
0% if FREE money regardless.
0% if FREE money regardless.
#22
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I would've put down less, and taken the financing. It's always great to put down as much money as you can for a down payment, but at the same time, there are a lot of "What Ifs."
Ok, if you live at home with your parents, "What Ifs" aren't as big a deal, but let's say you're out on your own, married, with children and a mortgage. What if you get laid off? What if one of you obtains a serious injury that all of health coverage isn't going to cover? What if you need a new roof or HVAC system? You have to plan, and look ahead. But, like I said, if you don't have these things to worry about, then that's great. But at the same time, "WHAT IF you want to move out, and you have no saved moiney because you dropped it all on a car?"
Ok, if you live at home with your parents, "What Ifs" aren't as big a deal, but let's say you're out on your own, married, with children and a mortgage. What if you get laid off? What if one of you obtains a serious injury that all of health coverage isn't going to cover? What if you need a new roof or HVAC system? You have to plan, and look ahead. But, like I said, if you don't have these things to worry about, then that's great. But at the same time, "WHAT IF you want to move out, and you have no saved moiney because you dropped it all on a car?"
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Yeah, but I didn't want a huge payment(would've been arround 750.-800 per month!) and I wanted the free gas. I'll get a 5700.00 deduction this year since I'll be using it to make sales calls. The 0% was only 60 months when I bought it. My payments are around $260. now. I suppose I could take the cash balance and invest that rather than paying off the loan in a year, but I'd rather eliminate any debt.
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Originally Posted by Sgt Blamo
Yeah, but I didn't want a huge payment(would've been arround 750.-800 per month!) and I wanted the free gas. I'll get a 5700.00 deduction this year since I'll be using it to make sales calls. The 0% was only 60 months when I bought it. My payments are around $260. now. I suppose I could take the cash balance and invest that rather than paying off the loan in a year, but I'd rather eliminate any debt.
What you could've done was put down LESS, take the financing, and have the same $260/mo payment, just because of no interest.
Either way, $260 isn't bad at all. I put down $11,000 on my 05 STi, and financed for 6 years at 1.9% apr. My payments are $331/mo, which is about $20/mo more than my 2002 1.8T GTI cost me at 5 years, and 4.9% apr. I financed around $16,000 on my GTI, compared to $20,000 on the STi. It's clear how much of a difference that interest can make........
#26
Originally Posted by Sinister Subaru
...Ditch store credit cards. Ditch cards you don't use. Don't have too many cards ... but the credit bureau doesn't like to see an over-abundance of cards, or open unused credit.
My advice: Have maybe 2 or 3 open cards. DO NOT MAX OUT. Pay off your card debt EVERY MONTH.
My advice: Have maybe 2 or 3 open cards. DO NOT MAX OUT. Pay off your card debt EVERY MONTH.
Last edited by binarysleep; Oct 23, 2005 at 06:29 PM.
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If I was really thinking, I would have invested the money and saved up untill I could pay cash in full. But, alas, I wanted the car badly enough that I made the less wise decision.
The danger with this car is you can easily loose your objectivety very quickly! It's SO much fun! I actually look forward to driving now! I was bored this afternoon, so I went out for a drive. About an hour ago, I figured I wanted something to drink from wallyworld and away I went, only bummer was "johnny law" was near by so I couldn't have much fun!
On another note, you know you have Evoitis (pronounced "Evo-eye-tis") when you slow down before entering or exiting freeway onramps so the slow cars aren't in your way, thus allowing you to work those tight curves!
The danger with this car is you can easily loose your objectivety very quickly! It's SO much fun! I actually look forward to driving now! I was bored this afternoon, so I went out for a drive. About an hour ago, I figured I wanted something to drink from wallyworld and away I went, only bummer was "johnny law" was near by so I couldn't have much fun!
On another note, you know you have Evoitis (pronounced "Evo-eye-tis") when you slow down before entering or exiting freeway onramps so the slow cars aren't in your way, thus allowing you to work those tight curves!
#29
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Originally Posted by EVIL EVO 8
How could your credit be that good??? I have never known anyone that got 0% financing
Generally, it's smart people that have good credit and get 0%.
Cabo
#30
You should find a new loan officer!
Originally Posted by Sgt Blamo
PS.
Having too much credit CAN hurt your beacon score! That's not oppinion, it's fact, I was just talking with a loan officer about the very subject.
Having too much credit CAN hurt your beacon score! That's not oppinion, it's fact, I was just talking with a loan officer about the very subject.
Here's an article you should read. (Scroll down to the second article) Here's a quote:
"...Fair, Isaac & Co. of San Rafael, says it unequivocally: Closing credit accounts can never help a credit score and might hurt it."
More info on manipulating your score
Last edited by binarysleep; Oct 21, 2005 at 11:03 PM.