14%!!!!
Holy **** you are getting raped!

 

Definitely a good point. I did something even worse though. A few months after buying my Lancer I bought a 1986.5 Supra for a project car when I really didn't have much money flowing in. I spent about $500 fixing it up and ended up selling it before winter hit for $200 less than what I paid for it. But I guess you always have to pay for having fun.

One thing I also did during the "no payment" period was put away money into a savings account to act like I was making payments. So when my no pay period is up (the end of this month) I'll have a nice chunk of change to make for the first payment. Then I'll refinance and get my payments down to something a lot more reasonable and start making a dent into credit card payments.

 

Oh, and I never did that 0-0-0 thing, started righjt away @ 3%

 

You must not understand how interest rates are calculated. If you have no loan history it's not likely you'll get a decent interest rate unless the dealership is doing the nice "deals", which you also have to qualify for. My one friend has a used S4 at something like 14% and my other friend has his Mazdaspeed financed at 17%, just because they don't have enough credit history. I had a smaller loan for the car I traded in, which made my credit rating shoot right up to the top because I never had a late payment. That's how I got the 7.9% from , but when I refinance I should be able to get something around 4% or 5%.

 

I understand - I just have good credit, so I qualified for the 3%

 

wow, i don't understand how some of you are seeming to pay like 20,000 on this car, i got mine for like 15,000 i pay like 173.00 a month, payments suck but i love my car, and there is definitly a whole world of performance options available for our lancers. your never going to get your money back out of a car anyways, once you drive that sucker off the lot its instantly downpriced some rediculous percent. oh well, i love my car.

 

Good that someone understands, not many people do. But for some it is impossible to get a decent interest rate because of lack of credit history or poor credit rating.

 

damn!!! i thought i had it bad w/ my 11%...oops, sorry 'bout that!!! yeah, like almost everyone here, i too got played like a "biatch" w/ that damn 0 down 0 payment ****!!! but , like what my friend told me, given my situation at the time, its what i had to do...so i guess i was destined to have my car...tee hee!!!

 

Wow, look at everyone coming out of the woodwork...looks like we were all too proud to start this thread! LOL
I did that 0-0-0 thing too...........killing me.
I am paying this ***** off with this year's tax return.

 

Damn, I only paid 14,500 for my Lancer and sold my Jeep Wrangler for 12,000... Actually right now my car is pretty much paid for. As far as the car being weak and sluggish, it sucks but then again I don't race (save for the random civic that revs its engine at me) so I don't really car. I bought the car for the looks and the gas milage.

How the hell did you guys pay over 14,500... for what you guys paid you could have got a way better car.

Fox

 

I'm reading this post in a bit of a nostalgic way. The insurace thing is the real pain. I remember when my parents were paying for insurance how they screamed about the cost. At least they owned the cars. But once you hit 21 the price goes down, Then when you hit 25 it really goes down. Now, I'm 38 and pay $93 per quarter. For two cars. It's good to be young, but sometimes getting a little older has it's perks too.

I got crap interest too, but I bought used ($9600) and my payments are only $206 @60mos. I will either refinance, depending on fees, or just start adding $20 to each payment. That should take off 4 payments that much sooner.

Don't sweat the small things. Drive the car and enjoy it. I get more looks than I ever did before driving. Makes the ole' ego feel good. So, my Lancer is a great little car. Espcecially since all I've ever driven before was used Pontiacs, Antique Chryslers and 1 ton vans with rust.

 

lol, yeah im payin more for this 02 Lancer 4dr ES than i did on my 95 Grandam 2door.

yeah the sticker price on my car was 7,495. than after it was all done and the HUGE interest rate and title, tax, etc etc i think its around 10k for it all. ive made 3 or 4 payments, and i made the loan for 5 years...i pay $191.95 a month, and 204.11 for insurance...it sucks, when i was driving my moms 2000 impala 4dr, my insurance was $220+ a month, my girlfriend drives an 01 mustang v6, and shes payin 235 a month(shes 18, i'll be 19 the 25th of Jan!)

im thinking about refinancing possibly, even though my rate was only 8.9%, thats still a lot of money, money that could goto making my car better!

 

15k was worth it when i got it.... and it's still for the most part worth it (to me anyway ) today. it's a great car.. dependable.. and i think it has a lot of potential. weed out the bad **** (ie: pistons), and you have a solid vehicle.

the looks are great except the rb, but a good body kit will take care of that. we have a very stout transmission.. can't go wrong there. i'm sure if you try to think about it, you can come up with plenty of reasons that this is a great car. just uh... don't sell it.

 

damn..i thought i was the only one that pays $20k for this car...lol...i felt stupid after i asked my dad to buy me that car too...i purchased this car cuz i thought the insurance would be low on a sedan..but damn...not on the lancer....i could of bought a rsx or celica....n' also...the 0-0-0 thing was another reason y i choose a lancer...all i can say is dont trust sales rep....all they want is ur money...bastards!! man....$20k on a 120hps single SOHC engine car....wut a rip...

 

wow....... did anyone do that 0-0-0 for 60 months?