need advice on financing

>>17679826
advice: don't buy shit you can't afford.

>>17679833
thx anon <3

>>17679826
>i don't know my interest rate yet

Figure this shit out before you go in. The dealer will likely fuck you over; check with your bank, local credit unions, etc. for a 4k auto loan.

>>17679826
This is how the poor stay poor. Why would you sell your car if you didn't already have a replacement lined up? Buy a civic for 2500 cash. borrow money from your parents or other family. and if you can't do that your should probably just kys.

Well first off it's not a speed 3. If you have decent credit your interest rate should be bearable 3-8%. I would see what the dealership can do on financing for a 13 year old car the top for financing might be 2-3 years so roughly for 4K for 36 months financing with 8% interest is like 125ish. If you have pre established credit and loans with a bank or credit union I'd go to them first to get a quote. If it's a big dealership they might be able to find better options from a wider area of loaners. The 3s are that bad just cramped and last a while they are pretty cheap to work on and mod

>taking out a loan on a 13 year old car with 140k miles on it

you deserve whatever happens to you

File: mazda_3_mps_1st_hatchback5d-56.jpg (646KB, 2217x1663px) Image search: [Google]

646KB, 2217x1663px

What's the general consensus on the Mazda 3's? I've been looking to sell my nb miata recently and upgrade to something bigger and I think the mazda 3 hatchback would be the perfect replacement. I've also been considering the speed 3 but they're a bit pricey and I worry about maintenance/reliability issues later down the road. I know it won't be near as fun to drive as my miata but I guess that's the sacrifice I'll have to make. What are the common problems with the mazda 3 other than the engine mounts?

I've always financed my cars. I don't know why retards on here think you're poor if you finance them. Yeah sure I could save up to buy some shitbox after a few years or I could jut get whatever the fuck I want now and pay a tiny bit of interest. My wife and I combined make close to 200k a year. Doesn't mean I want to spend 40-60k outright on a car.

>>17679826
The only reason you should ever get a loan is to buy an investment, that way the extra money you spend on interest *can* be offset by the increase in value (property value rising) or the revenue from the investment (renting a house out).

CARS ARE NOT AN INVESTMENT!
Infact they depreciate in value at a considerable rate AND they cost money to maintain. There is almost no reason to finance a car (unless maybe it's a work van), you would have been much better off to keep driving your Camry until you can affod to buy the Mazda with CASH.

How hard is it to save 5k like seriously......

>>17681337
If someone is supporting themselves on near minimum wage it's pretty hard to. Rather it takes a long time to. But if he's making enough to save up then he can get a loan and get it now especially if he needs it now and can't wait.

>>17681337
>can supposedly afford 5k
>can't also afford 5.5k
Really joggin my noggin here. Even a 10% interest rate on a 4k loan is only fucking 400 dollars extra. You retards acting like it's going to add on another 50,000 and put him in the poorhouse.

>>17679826

Most used car dealerships are a terrible deal, assuming you are planning on letting them "finance" you. Interest will be high, and the car was probably totalled out and then sent through a salvage auction, niggered back together and offered to you right there on the lot.

If you can put 1K down then just save some more and buy something without financing that grandpa drove four times and daughter is selling because they are putting his ass in the nursing home.

IF you absolutely need to finance a fucking car right now for whatever reason, try and get the loan yourself from wherever you bank or a decent credit union in your area that has good interests rates, I assume you are probably too young to have fucked your credit and old enough that you might just get a signature close to $5k mark with a fair interest rate.

>>17681368
>it's only $400
Said no rich person ever.

When you're buying used over five years old, it's almost never a good idea to go through a dealer. Just get something on Craigslist.

>>17679826

Don't. Never finance anything.

>>17681235
If you're considering a first gen mazdaspeed3 then this forum post should be pretty helpful.

http://www.mazdaspeedforums.org/forum/showthread.php?t=125030

>>17681235
Trannys are weak on these, I have dealt with numerous 3's that have had various transmission problems. Other than than, solid fucking cars, I really like the feel of the shiftknob.

>>17681382
Are you rich? Are you somehow rich now by not spending that extra 400 dollars? I love seeing this argument because it's completely fucking retarded. Rich people don't get rich by working wage slave jobs making anywhere from 9-40 dollars an hour. They get rich by other means. Creating, selling, investing, etc. Not working a shitty job like you. You won't ever be rich so stop saying stupid shit like that.

>>17679826
Financing a car that old is unfortunate. It's a decent car if you're not in a rust-prone area, but you're likely to owe more money than its worth and that's always risky.

Get a competing quote from a credit union, they can often get a better interest rate than dealerships.

>>17681404
It's a mindset, you poorfag. That 400 dollars alone isn't much but a poorfag (like you & OP) that takes a fucking car loan will definitely be a fuck up in other aspects of managing money.

>>17681404
>rich people get rich by investing
Dingdingdingdingding!
Now explain to me how a clapped out old Mazda is an investment.

>>17681398
Afaik they need better transmission cooling if you drive them hard in city, and being the sportiest compact shitbox people beat on them.

>>17681413
400 dollars isn't going to break my bank. I have more than a few hundred thousand saved since I've been living alone and making 90k a year since I was 22. I'm not rich and I won't ever be rich. I make good money and I have money saved for whatever I want but I'll still finance. I don't care about paying a few hundred more on a car. But if you need that 400 to live then that's fine but don't act like some get rich quick guru or some bullshit like that. It's just money. If you have a job it comes back to you. Spending a little more on something to get it now is just how things work.

>>17681423
This is a non-post. Unless you're buying a 500 dollar car or riding the bus you might as well call any vehicle a poor investment and waste of money. Don't be dumb.

>>17681430
One time I couldn't figure out what the Transmission problem was, The car would not recognize it was in Drive. Turns out a tiny wire was spliced so I ripped it out and put a new one in and fixed it.

File: 1405912720366.jpg (10KB, 292x215px) Image search: [Google]

10KB, 292x215px

>>17681433
Sure thing buddy.

>>17681449
>someone makes more than me!
>better post a reaction image!
Fucking retard. I'm a hardware engineer working for a good sized company given military contracts.

File: 1406710434730.jpg (27KB, 327x382px) Image search: [Google]

27KB, 327x382px

>>17681512
& I'm the prince of England

Knowing the people who post on /o/, it wouldn't surprise me one day if one of these troll threads are actually legit.

>>17679826
>financing a $5k car
>I don't know my interest rate yet

This can only end well.
.

File: tumblr_nd9zhvwCaI1rcktu3o1_500.jpg (50KB, 500x310px) Image search: [Google]

50KB, 500x310px

You would be better off paying in cash. Should have saved at least 5k to put down on a car no more than 5 years old for no more than 10k. That's a lot of miles and of course at that point you'll begin encountering typical issues that pop up in later car life. Along with paying off a loan (it will be personal, you'll never get an auto loan on something that old so prepare for 10+ APR) you're going to be in the shit. I'm sorry, OP.

Fucking retard. Enjoy seeing the repo men next month or settling for a Geo Metro.

>not abusing your shitbox while you save for another car
>not buying a new car, then D slapping and offroading your shitbox
>not saying goodbye to your cars at the wrecker