financing - 48 or 60?
financing - 48 or 60?
another question, so much closer now, but have this one more itch in my head regarding financing. i know 60 is good if i want monthly payments, but will that be bad for my credit history? i have heard that 48 months, is more advantageous, but the only advantage i see is saving a couple hundred bucks between the two in interest.
what do you guys have if you are financing the car?
DG 6mt Premium - still saving
what do you guys have if you are financing the car?
DG 6mt Premium - still saving
Guest
Posts: n/a
Re: financing - 48 or 60?
I think 60 months is pretty much the norm for financing these days. With average car prices increasing on an annual basis, I think the majority of people opt for 60 mths.
As long as you pay on time, I think there should be no negative effect on your credit report for choosing 60 over 48.
As long as you pay on time, I think there should be no negative effect on your credit report for choosing 60 over 48.
Re: financing - 48 or 60?
Unless you put a huge down-payment, 60 is pretty standard.
I can't see where 48 is more advantageous over 60 for your credit. You either pay your bills on time or you don't. That's what affects your credit rating.
I have a 60 month on another car, and I'm planning 60 for this one.
I can't see where 48 is more advantageous over 60 for your credit. You either pay your bills on time or you don't. That's what affects your credit rating.
I have a 60 month on another car, and I'm planning 60 for this one.
Re: financing - 48 or 60?
Just make sure that you have no prepayment penalties and get 60 month for the flexibility of a lower monthly commitment and pay down the principal on the loan when you have some extra money. You never know what might happen with your financial situation...
Re: financing - 48 or 60?
As long as your loan is a "simple interest" loan you should have any pre-payment penalties. I agree with everyone else, go with a 60 month loan and pay more when you have the extra cash.
03 CB G35 Coupe 6MT
estimated arrival - 5/6/03
03 CB G35 Coupe 6MT
estimated arrival - 5/6/03
Re: financing - 48 or 60?
thanks for everyones input. i am done with my planning and i am totally gonna get it, now i just want to save a bit more so i can put about 7-9k down. =D i just hope they dont make any changes in the next month, that would chap my hide raw!
DG 6mt Premium - still saving
DG 6mt Premium - still saving
Trending Topics
Thread
Thread Starter
Forum
Replies
Last Post
Jiggerjuice
Buying, Selling & Leasing Discussion
3
Aug 17, 2015 08:41 AM




