Just Curious...Who's still paying on their 5th Gen?
06-02-2008, 11:19 PM
#45
still brewin'
Join Date: May 2005
Location: MA, lost in GA
Posts: 317
I bought my 00 5 spd se in Feb. 06 for $6,400. Put $3,400 down. I paid it off Apr 08 and have the title sittin on my desk. It's parked in the driveway since the transmission retired with only 3 months left to pay. I thought about trading it for an 03 6spd once I get another gearbox, but I lovin a payment free vehicle.
06-05-2008, 01:21 PM
#47
Member
Join Date: May 2005
Location: Phoenix a.k.a. Hell
Posts: 57
Just got mine in feb. 2500 down ( rape ) a lil under 10k out the door with a 3yr unl mile powertrain warranty. It had 99k on the clock but came with some nice goodies. Orig monthly was $267 with a 12% int for 4 yrs ( i dunno how to go about it or if refinancing is worth it or not... ) been payin a lil extra for the past couple of months tryna get under 200 a month. I'd sell it and get another 92 camry ( my long lost love ) if it didn't look so sexy.
06-06-2008, 09:20 PM
#52
I bought my 02 Maxima 6-spd with 97,000 miles on it for $7950. How I actually got a loan for the car is a long story.
I made plans to buy the car on the Friday I received my Capital One Used Auto Loan check for $8,000. When I got to the place I was going to buy the car, my mom (since I am under 18, she had to co-sign) decided to go over the policy included in the Capital One packet. She found a paragraph that mentioned any used car older than 2002 and/or has over 70,000 miles cannot be used with the loan check. Well the car was a 2002, but it had 97,000 miles on it. So the loan check was useless.
Now I had to wait an entire weekend until I could go look for anyone who offered an auto loan for the car. On Monday, I searched around and finally found a place called "First Again" that allowed me to have an auto loan.
Now that I finally got an auto loan, I get to pay $200/month for 4 years to show how much I love and care for my Maxima! The actual payment is $194/month, but I pay $200 just to make things easier. I also have a lower interest rate because I set the loan up with Auto-Withdrawal from my bank account.
Oh, and sorry for the long post.
I made plans to buy the car on the Friday I received my Capital One Used Auto Loan check for $8,000. When I got to the place I was going to buy the car, my mom (since I am under 18, she had to co-sign) decided to go over the policy included in the Capital One packet. She found a paragraph that mentioned any used car older than 2002 and/or has over 70,000 miles cannot be used with the loan check. Well the car was a 2002, but it had 97,000 miles on it. So the loan check was useless.
Now I had to wait an entire weekend until I could go look for anyone who offered an auto loan for the car. On Monday, I searched around and finally found a place called "First Again" that allowed me to have an auto loan.
Now that I finally got an auto loan, I get to pay $200/month for 4 years to show how much I love and care for my Maxima! The actual payment is $194/month, but I pay $200 just to make things easier. I also have a lower interest rate because I set the loan up with Auto-Withdrawal from my bank account.
Oh, and sorry for the long post.
06-08-2008, 10:10 AM
#58
Supporting Maxima.org Member
iTrader: (3)
Join Date: Nov 2004
Location: Baton Rouge, LA
Posts: 5,432
My grandparents bought the car for me in Sept. 2004 for $16k and paid cash for it. I paid them $800 for 18 months to pay for it. I think they ended up paying maybe $1-2k that I didn't pay...
06-08-2008, 11:02 PM
#59
I bought my 2K Loaded GLE in November of '07 with 78,000 miles on it for 8,800. It's now June of '08 and the car has 82,000 miles on it.... but in those 4,000 miles and 7 months I've spent 1,000 on repairs that I've done the work on myself..... like the 02 sensor that went out the first week, or the alternator that went out last month, or the 6 ignition coils, or the new brake rotors and pads it needed this month... I swear I've had the worst luck with this car... oh yeah, I still owe 7,800 on it, sorry I got a little off topic....
06-23-2008, 01:09 AM
#60
Newbie - Just Registered
Join Date: Oct 2007
Posts: 1
well i bought my car Oct 1st of '07 at 98,665 miles for $5995. I had about $4000 saved up since Jan of '07(which is hard as hell for a student) but anyway paid $3000 cash and got a loan on the rest.Monthly payment was $98.74 for about 5 months then paid the bit*h off. Now my baby is now at 100,765 miles.Spent bout $600 on repairs(o2 censor & cv boot) & bout $250 to get some new keys made after mine fell in the storm drain.NOW IM BOUT TO START ADDING STUFF TO IT YAY 
Last edited by RiffRaff; 06-23-2008 at 01:13 AM.
06-23-2008, 06:27 AM
#61
Here is a simple example of where making payments vs. paying something off DOES make sense.
Your current interest rate on your car loan is 4.5% APR with $10,000 to pay off the loan. You have $10,000 in mutual funds bringing in 8% APR (after brokerages fees, load fees, etc.). You can choose to pay off the car with the money from the mutual fund. What would you do?
Would you...
A. Continue making your payments at 4.5% and gaining MORE money from your mutual funds. There is a 3.5% interest GAIN.
B. Pay off the car and be done with it, but also be done with your mutual funds and therefore losing out on the 3.5% interest GAIN.
Best financially SOUND option is A. Most people do not understand this and just do not like having debt. OF course, there are other factors involved such as your credit score, assets to loan ratio, etc. But this is the simple logic that financially smart people apply.
Another basic example is a home loan...who the hell pays off that? Most interest rates are in the 4% to 6% range. With the right investments you can at least make even money interest at 6%.
Do I have enough to pay off my home loan? Yes...but why don't I? Because I make more money off my money in investments than I would in home appreciation.
Your current interest rate on your car loan is 4.5% APR with $10,000 to pay off the loan. You have $10,000 in mutual funds bringing in 8% APR (after brokerages fees, load fees, etc.). You can choose to pay off the car with the money from the mutual fund. What would you do?
Would you...
A. Continue making your payments at 4.5% and gaining MORE money from your mutual funds. There is a 3.5% interest GAIN.
B. Pay off the car and be done with it, but also be done with your mutual funds and therefore losing out on the 3.5% interest GAIN.
Best financially SOUND option is A. Most people do not understand this and just do not like having debt. OF course, there are other factors involved such as your credit score, assets to loan ratio, etc. But this is the simple logic that financially smart people apply.
Another basic example is a home loan...who the hell pays off that? Most interest rates are in the 4% to 6% range. With the right investments you can at least make even money interest at 6%.
Do I have enough to pay off my home loan? Yes...but why don't I? Because I make more money off my money in investments than I would in home appreciation.
06-23-2008, 09:25 AM
#63
Senior Member
Join Date: Apr 2004
Location: Atlanta
Posts: 1,861
06-24-2008, 08:08 PM
#67
Supporting Maxima.org Member
Join Date: Aug 2000
Location: Cherry Hill, NJ
Posts: 387
Still Paying
Bought my 02 SE in April 2004 with about 21K miles for about $17K.
Took out a 5 year loan, paying about $345/month
Still owe about $8K to pay - will finish around the end of 2009.
Car will probably have about 150 miles on it by then....
rgds, Noela
Took out a 5 year loan, paying about $345/month
Still owe about $8K to pay - will finish around the end of 2009.
Car will probably have about 150 miles on it by then....
rgds, Noela
07-03-2008, 05:57 AM
#68
I bought my 2000 in July of '99 and paid it off in July of 04.
Right now I'm financing a Toyota Sienna for the wife. I'll have that paid for in Feb of 2011. Then I can think about getting a new car. The Max should have about 200K on it by then.
Right now I'm financing a Toyota Sienna for the wife. I'll have that paid for in Feb of 2011. Then I can think about getting a new car. The Max should have about 200K on it by then.
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