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#1 |
![]() ![]() ![]() ![]() Drives: 2009 Yaris--3dr MT Join Date: Jan 2011
Location: Ohio
Posts: 542
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Car payments SUCK.....
Car payments SUCK! Can't wait until I pay off my Yaris, and when I do, I'm going to drive it until the wheels fall off.....
Did I mention that car payments suck? |
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#2 |
vroom vroom
Drives: lil red 5-door Join Date: Sep 2006
Location: Bangkok, Thailand
Posts: 7,744
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what's the alternative? got $10K+ in cash to spend? :D
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The price of freedom of religion, or of speech, or of the press, is that we must put up with a good deal of rubbish. - Robert Jackson ![]() Bye bye 1NZ... |
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#3 |
Nothing beats a Toyota!
Drives: 2013 Yaris 5 dr liftback Join Date: Jan 2009
Location: Indianapolis, Indiana
Posts: 564
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Excellent post.....my Dad always told me that once you pay off you car, keep paying yourself for it and when the time comes to buy another one, you will have all or a great part of the down payment in bank.
This is a similar concept in airplane ownership. The cost of use needs to be estimated and each hour of operation has a cost that needs to paid up front. If you pay yourself for your use, you will have some money on the new car side of the deal.
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Big Dave Indianapolis, IN Synthetic Oil....its in my car.....for at least 10,000 miles! ![]() ![]() |
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#4 | |
USAF_SrA_E-4
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Yes car payments sucks but the more you pay the faster it's paid off
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#5 |
DWEED
Drives: 3DR 2008 Metorite Metalic Join Date: Oct 2008
Location: Arizona
Posts: 1,161
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Not sure how much interest you pay. Your credit union would have a better rate than if you got dealer financing. The cost of transportation isn't cheap. The Yaris is one of the least expensive ways to get from point A to point B over the long term. Put the money for upgraded tires, sound systems, wheels, and other items against the loan.
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Making a decision without following it with an action is still a fantasy. |
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#6 |
![]() ![]() ![]() ![]() ![]() ![]() Drives: 2008 Yaris Liftback (Sprocket) Join Date: Oct 2008
Location: San Antonio, Texas!
Posts: 2,799
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Well, writing a check for $18,900 for a Jeep wasn't a pleasant experience either!
As long as you can afford the payments, and take good care of the car; you can minimize the impact of the cost of the loan (the "interest"). I try to keep a car for a minimum of ten years, and that means finding cars that will last a decade; which is why I chose a Toyota. I honestly think that in the long run the cost of ownership will be nominal, especially compared with other cars. In the Yaris we have a simple car that is economical, functional and enjoyable. Cars are usually not a financial investment, but the more use you can get out of them for the money invested means you can mitigate the cost in the long run. So quit worrying about the payments as long as you can meet them. Enjoy the car and take good care of it, and you will find you did the right thing in buying the car! Cheers! M2
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#7 |
![]() ![]() ![]() Drives: 2010 5 door hatch w/5 sp man. Join Date: Jan 2011
Location: Coventry, CT
Posts: 160
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My Yaris payments actually don't suck. At 0% I get to pay with slightly inflated dollars. I guess they had too many 2010s.
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#8 |
![]() ![]() Drives: 2011 Super White 5 door hatch Join Date: Aug 2011
Location: Fullerton
Posts: 82
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i definitely feel you on this one. as this being my first new car having an extra monthly payment digs deep into the budget. but i was lucky enough to get a pretty decent rate. the college grad program got me a good percentage even though i didn't deserve it... so without having to put a down payment my monthly is about 320. i don't know how that compares to some of you guys, but i thought it was a pretty decent monthly for me.
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#9 |
![]() ![]() ![]() Drives: Black '08 Yaris Hatch S Join Date: Aug 2011
Location: Johnson City, Tennessee
Posts: 320
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I'm hoping something will happen like my friend had with his ford festiva.
He bought it for $300, put about $400 into it over the course of a few years, as well as getting 40+ mpg. Then he gave it to his parents to drive for a 3 years; then they sold it for $1200. So while his car was extremely ugly. . . he made money driving it. It'd be real nice if 5 years down the road people are like "OMG A YARIS BY ALL THAT IS HOLY I BID $15000!" Yea. That's what I'm hoping. :D
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-Will- |
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#10 |
![]() ![]() Drives: '08 HB Join Date: Nov 2008
Location: Allyn
Posts: 71
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Paying my '08 off with the tax return, then dumping all the required loan insurance coverage - down to the liability stuff only - and driving it until the wheels fall off!
Oh ya.....and with the wife's car financed at ~5%, we're gonna refinance that one through the C/U and get a lower rate and lower payments, and then take the savings from not having to make a Yaris payment and pay off that one mo-quiker :-) |
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#11 |
advocatus diaboli
Drives: 07 Yaris hatch Join Date: Mar 2011
Location: San Jacinto California
Posts: 1,126
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I've never had a car payment...but I've owned 8+ cars over the last 10 years. :)
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-Type 07 FFL- ![]() My odometer 03/11 http://i205.photobucket.com/albums/b...a/2843ed85.jpg |
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#12 | |
Only Happy When it Rains
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payments do suck, which is why i saved up to pay for the Yaris. Debt sucks too, big time. I just finally finished paying off $10k in debt from when i had a garbage job with no future.
Think of it this way though, you can afford those payments, you aren't homeless living in some cesspool in the middle of a city because you literally can't think straight. At least you have the smarts to know debt suck. just think of the 80% or so of humanity that will never get that. Quote:
Or even worse, it is raining and you miss hitting the brakes by a one thousandth of a second and you rear end a 1960's Mercedes Benz convertible worth half a million or more. That is really when insurance comes in handy.
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Colin Chapman disciple |
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#13 |
![]() ![]() ![]() ![]() Drives: 2017 Yaris IA, Pulse Red, Auto Join Date: Jun 2010
Location: Indianapolis
Posts: 538
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Car payments don't suck as much as a lease payment would. I got 0% financing and it's great to watch that balance go down $248.00 a month with none of it going to interest.
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#14 |
![]() ![]() ![]() ![]() Drives: 2009 Yaris--3dr MT Join Date: Jan 2011
Location: Ohio
Posts: 542
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Thanks for the comments, guys and gals.
why?, well put. DebbyM, wish I would have bought a manual transmission. Envy you.... |
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