Any Pontiac Dealers in the Forum??? [Archive] - GrandAmGT.com Forum

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5-lO
04-24-2003, 05:37 PM
Ok, your all gonna be like "why get rid of the GA" ... but I really like the new GTPs. Plus my parents are gving me crap about the fact that they are paying for my car, so I offered to pay... well for some reason I got yelled at more (even though I can easily make payments) But now Im thinking of buying myself a car, and jsut asking them to co sign, since its required by law. But any who, If I put 10% down on a almost fully loaded 04 GTP (prince Quote almost 30k) .. would 400 a month be sufficient for payments on a 5 year smart buy, then finance after that? Thank you for your help.

Jon

Oh and dont worry, the GA will be given to my mom, but she never uses it, so itll still be "mine" :-p

iceman
04-24-2003, 06:34 PM
Jason E is a salesman, so is gtguy I believe.

Greed4Speed
04-24-2003, 09:03 PM
Better find out if you can even refinace a car loan after it is 5 years old. If you're looking at a balloon payment, don't. Go to a credit union or someting and get a better deal. Do you realize how much interest you'll be paying on that car over 5 years then howmany more years after you refinance? You'll end up owing more than the car is worth. Get in an accident the insurance will only pay what the car is worth or the balance of the loan, whichever is cheaper. You'd be far better off not getting instant gratification on a current GTP, saving that money and getting a GTP in a couple of years and making a huge down payment.

Another thing to think about, how much is the insurance going to be for a GTP? You said you can do the $400 for payments but insurance at your age it will probably equal that.

Just some things to think about.

Not2OLD
04-25-2003, 06:51 AM
I'm not a dealer....but I did some quick ciphering here


$30000 Quoted price
- 3000 10% down
_______
$27000 Financed w/ 0%
/ 60 months
_______
$ 450 per month


Of course, any rebates/discounts will reduce the amount financed as well.

GrAm962001
04-25-2003, 10:55 AM
yeah and thats at 0% and chances are you won't get that unless your parents have the best credit in the world cause your the main signee you have basically non so count on about 7-10% which could put you up in the 500's easy....I was a dealer for Pontiac thats how and why I bought my GA, invoice baby ;)

lucky13rme
04-26-2003, 10:41 PM
Also the lowest rate you can get on the 04 GP is 5.9%, so unless your welling to wait a while the payments will be up there.

red rocket
04-28-2003, 07:23 AM
If you are 17, then your parents must be paying through the nose for your insurance. With a GTP, they'll paying through other body parts as well. I hope my kids don't want cars like this before they are even out of high school. Maybe I'm out of touch, but I didn't even have a car until I graduated college, and then I had a POS for a few years. And I was working 2-3 jobs.

SonoLoCo
05-12-2003, 11:04 AM
It seems like this thread has died down but I'll give you what I know...

I worked financing cars during the first six months of 2002 and I learned that unless you make 4000/mo and your parents have perfect credit and make 100k+ combined/year, your interest is going to be at a minimum 12-14%. I would even go to say that it would be more like 20-24%. The smart choice is to go with Greed4Speed and almost everyone else on the board and wait a while. If you're under 18, your credit history is so short that you would probably not even want to be on the loan(since it'll make the int rate higher)... which puts all of the liability on your parents. It sounds like this is the last thing they will want.

You also mentioned that your mom won't even drive the GA, so then you'll have two cars. From what I see, LL GA's, so just pimp that for a few more years and save some cash for when you're going to be poorer than hell during college, unless you plan on staying in 24/7 or working about the same between classes and a job.

My suggestion: Keep the GA (hook it up!)... forget the GTP, you don't need it. Save your money for college and for taking ladies out. If you want any more advice with loans, feel free to PM me or to respond on this string.

Mike

I'm still wondering how buying your own car instead of reimbursing your 'rents for the GA payments is going to make the situation better...