 LOANS, need advice |
 Oct 24, 2008 - 9:43 PM
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Enthusiast Joined Oct 5, '08 From massachusetts Currently Offline Reputation: 0 (0%)  |
Hi , im currently in the process of trying to purchase a celica, but the thing is i was gonna take out a loan for it since im in need and i really need a car.
Is it a good time to take out a loan since all these problems with the stock market and other crap? |
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Replies
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Oct 25, 2008 - 3:31 PM
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 Enthusiast  Joined Feb 7, '07 From Portland, Oregon Currently Offline Reputation: 67 (96%) |
IMO a 6gc is too old of a car to be worth car payments, unless it's either a '99 or in prestine condition/very low miles. It's still a 10 year old car even. Plus, interest rates for used cars that are older and w/higher mileage are higher. Basically you pay more interest for a $7k or $8k loan than you would for a loan on a new car. Figure in full coverage (required if you've got a loan out) and you're easily looking at $400/mo for that ten+ y.o. car. And that's all ASIDE from the current credit crunch. W/a crappy economy and jobs being less than stable to say the least, I think it's a terrible time to take on something like that. Just my .02
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Posts in this topic
Supramanecko LOANS Oct 24, 2008 - 9:43 PM
Galcobar Credit crunch means it's hard to get a loan, a... Oct 25, 2008 - 3:50 AM jjbenzo Only people with the best credit will be approved ... Oct 25, 2008 - 9:26 AM Random_Stranger QUOTE (Supramanecko @ Oct 24, 2008 - 7... Oct 25, 2008 - 10:18 AM
SoDo QUOTE (Random_Stranger @ Oct 25, 2008 - ... Oct 25, 2008 - 3:44 PM Rayme What do you mean "your in need"..?
Doe... Oct 25, 2008 - 1:16 PM Supramanecko oh well im buying myself a 10-speed bike! Oct 25, 2008 - 4:15 PM |
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