Worst mistake I've every made with a car.
#16
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well the Truth is, almost every other lancer owner out there has the same problem..that 0-0-0 thing was the best marketing tool they could have ever come up with...sucker peope in, hay we'll give you a Cool New Lancer today...don't give us ANY money, and give us a payment 12 months from now........Sucked in a lot of unsuspectiong Firts time buyers...
#17
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not me... i dropped 5,000 down, and paid the rest off after that 12 month period, not that everyone has the money to do that, but i highly suggest trying to give them as much as you can when buying a car, just my opinion
#19
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I'm in a similar situation, but I knew it going into it. The car is new to the US market, so the resale value is likely to decline quickly. And I knew that a 0-0-0 financing would put me upside down on the loan for a while. I don't wanna know what my balance is on my 2 year old lancer with 28k miles on it, but I know I won't be selling it soon, and in only 2 more years I will own it completely... something I have never done to a car to date. So I'm actually quite happy with the Lancer. This should make you feel a little better. Despite body roll, my Lancer is constantly passing higher horsepower cars on the race track and autocross courses. It handles better than many people think.
#22
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best way to go about car payments is giving the most in one shot
dude.. i originally owed 16 grand flat... new car not used... i've had it for a year and some change... meaning i knocked off some sweet *** off of the amount i originally owed...
what i ended up doing was pay for half of it (yeap i did! lol) got a loan for the other half and now i'm paying that off... which isn't bad at all... i over pay to make the apyments go way faster![Smilie](https://www.evolutionm.net/forums/images/smilies/smile.gif)
i know this car isn't the best, but it's my car, it's my toy, i'm gonna make the best of it![Smilie](https://www.evolutionm.net/forums/images/smilies/smile.gif)
LANCERS RULE!!!
i've had ONE late payment which was nothing, they totally waved it cuz i always pay a lil extra more, sometimes even 200 MORE than what is due that month...
what i ended up doing was pay for half of it (yeap i did! lol) got a loan for the other half and now i'm paying that off... which isn't bad at all... i over pay to make the apyments go way faster
![Smilie](https://www.evolutionm.net/forums/images/smilies/smile.gif)
i know this car isn't the best, but it's my car, it's my toy, i'm gonna make the best of it
![Smilie](https://www.evolutionm.net/forums/images/smilies/smile.gif)
LANCERS RULE!!!
i've had ONE late payment which was nothing, they totally waved it cuz i always pay a lil extra more, sometimes even 200 MORE than what is due that month...
Last edited by oz-e; Jan 7, 2004 at 04:24 AM.
#25
what were you thinking buying that car at that price and with that interest rate? i only pay 100 dollars per month more for my evo not to mention the fact that the standard lancer is a sh** box of an old ladies car you could have gotten an rsx for less. didnt you shop around? good luck live and learn then get evo.
#27
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Have you ever thought about refinancing? I took the no payments for a year, which is what I really needed to get me out of college and into a new job so I could start making payments. I got a 7.9% interest rate through
and my first payment is due at the end of this month. I've been saving and will drop a huge first payment, make a few more, then refinance at a lower interest rate. I'm lucky enough to have one of the highest credit ratings so I can get a really low interest rate, but I suggest you try out the refinancing market and knock your interet rate down a bit.
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#28
Always price 3-4 cars with insurnace before buying. Shop for insurance first. I'd rather put an extra 100/month into a loan than a high-risk insurance premium.
0-0-0 after 1 year and 20-40% depreciation = upside-down
Hope you have gap insurance.
0-0-0 after 1 year and 20-40% depreciation = upside-down
Hope you have gap insurance.
#29
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I paid $8100 for my 2002 with 9996 miles used with remainder of factory warranty. I put it on a credit card with 0% until July and then 3.9% until it is paid off.
Those "0-0-0" type deals are the worse thing you could ever do. You lose $2k just by driving the car off the lot plus you are not paying it down untila year later..........
Those "0-0-0" type deals are the worse thing you could ever do. You lose $2k just by driving the car off the lot plus you are not paying it down untila year later..........
#30
I feel the same way, I simply purchased the car with it being slightly out of my means to do so, somewhat hurting my cash flow. It's a stretch, but when I'm driving it I'd never give it up. I pay $157.10 (CAN Dollars) Bi-Monthly which fits better with my salary & other bills, and I get insurance free through my company - I think I pay more for my cell phone - but I can certainly say that if I could turn back time, I'd have kept my old car to make my life/debt that much easier. It's hard to see the value of good cash flow when you're test driving a fancy new car! I would see it differently if I was debt free from credit cards and stuff, but I was extremely stupid and didn't pay those off before I bought a new car. If there's any advice I have it's don't put off/ take into account other debts before taking on more, which was a mistake for me personally.