How much is the monthly payment of your fit?
 

asking this because my dad is paying $500 per month for the fit. very expensive.

There's many other factors to arrive at a number.

How long is the loan and for how much to start with.

More important than monthly payment is the interest rate and terms of the loan. $500 a month is not "expensive" if the interest rate is low and the loan is for a shorter term. Plenty of people get car loans that look "inexpensive" on a monthly basis, but in a few years they owe much more than the car is worth.

Mine is...
 

Just under $400 financed entire deal over 7 years...I make a weekly payment of $100. which gives me 4 extra weeks of payments per year. Anything additional to your monthly payment goes to pay principal instead of interest. So by rounding up and paying every week instead of monthly I am paying off the car faster so there is no need for gap insurance, and if money is tight I can miss a payment because after 19 months of paying this way my next payment isn't due until April...car should be paid in 5 1/2 years and my effective interest rate is even lower than the 5 year rate...

Jeeez. 7 years at 400/month? That seems REALLY wrong.

That's like 30k +

I'm assuming the amount OWED is less than that, but that's the payment he makes so that he can pay the loan off early.

Which is a good idea, but not in the spirit of the thread :p

I would gladly post what my monthly payment is and for how long...but then you would see that in the end, I let Renton Honda violate my anus :(

$279/mo x5 years

I pay about 100 bucks a month.

298/month x 60 months @ 0.9%. My checking account pays better rates than that.

$288 a mo for 5.5 years

I am paying 192.00 a month on a five year loan that I am getting ready to pay off in full as soon as I get my tax return. I traded in a 1996 Ford Ranger XLT on the deal with around 130,000 miles and put $5,000.00 down plus paid my taxes. I got a really low interest loan through my credit union which helped but the best part is they were able to break up the payments so I only paid $96.00 every 2 weeks. I checked on the pay off the other day and to pay off in full it will be $570.00 which will save me nearly 300.00 if paid off early.

A lazy bit of checking shows that a loan of 17500 @3% for 3 years works out to about 500 a month. If that's about what your situation is, then it's not wrong to be paying that much. If its a longer term or the loan balance (ie amount you paid for the car) was lower then something is up.

$0 down, 0.9% financing, $333.32/month for 5 years

I had a HUGE down payment... $13.5k (it was the most I could put down, because they won't finance less than $5k)... which left me with about $140 per month payment over 5 years. Yeah, I had originally added an extended warranty... and of course I had close to 10% apr due to my credit (originally 12% before adding the warranty).

Eventually, I cancelled the extended warranty (refunded DIRECTLY into the principal), and paid $500 every chance I got... and my last payment, only 5 months after getting the Fit was just over $1k (to finish it off). Overall, I paid $200 in interest... instead of the $2,000 it would've been had I let it go all 5 years. My interest technically went up once I cancelled the warranty, as that was part of the financing deal (lower apr with the warranty). But, by then... I had paid enough off, that the difference was minimal.

$377 a month for 5 years. $2k down payment. Plus $200/month for insurance.

$0 down, 0.9% financing, 60 month term. About $15800 the Fit Sport 5mt.
$311.18 per month including full coverage insurance.

$3000 down, 1.9% financing, 60 months, $314 a month. Car was about $18k after tax / license minus the down.

$247 a month (sometimes I pay more, sometimes less). 3.9% APR through Honda. I think it was 36 months but I could be wron on that since I plan to pay it off after 12 or 13.

I put $9,500 down and financed the rest, partly because my money was tied up in a CD at the time but mostly to establish some credit, since I have almost always bought everything in cash (have had a $500 credit card for a while, but hardly use it). I figure someday I will need a morgage so I should work on it.

By the way, it is funny to see the sales peoples faces when a 21 year old walks in, wants to buy a new car and put almost 10k down. :D

I would love to see their faces, haha. This is the best way to buy things - with the money you have.

$252/mo, 60mo term. zero down & no trade.


some of you are paying for a 30k+ car. yikes.

$0 down, equal trade in, $375 x 6 years, 5% interest rate. Insurance $200.

I send $500 a month in for the car.

I live with my parents still so I can afford it. :o

Thank goodness, I have good credit, can negotiate for a car... now I know how dealers can still stay in business with me buying cars for under invoice with my own financing..haha..

Just kidding but true..

Relying on monthy payment to determine a good deal is just plain retarded and plays into the dealer games using the 4 square method..Google it...

It's like those BMW ads that say they can give you a $300 a month payment, never mind the $10,000 deposit they require or the extra long terms in fine print.

$149/mo --- 5 yrs @ 2.99% but I put down $9250. :)

2012 sport 325.

Yep...
 

It was wrong...I forgot the bank only gives 7 year loans on $20K and above...so it is 5 years...and the actual payment is $351.62 per month...and my next payment isn't actually due until the end of May...original amount was $17,926.05 and currently I owe $11,847.79 after 18 months of payments. Should be paid for in under 4 years...

https://www.fitfreak.net/forums/2nd-...tml#post886631

PAID OFF,bought 7/09,$241 month pymts.doubled pymts for almost 2 1/2 yrs.SHE'S ALL MINE.:wavey::wavey::wavey:

$130 a month for 5 years

i'm being raped at $360/mo for 5 years.

i love the car at least and i am always looking for excuses to drive her.

Just around where fit freak member Trunglam is at, 283 a month for 5 years (60 months) 2000 down, got it around 17-18K out the door 2010 sport white and i think 0.9APY (its under mom's name) did that for the low interest rate.

$0. I paid cash. Nice to be old and retired somedays. I can vaguely recalled those painful car payments.

So instead of monthly payments I piss it away on mods.

At 0.9%, I'd rather the monthly payments.

You'd rather pay interest than zero interest? Wat.

Given that inflation > 0 and my checking account pays 2-3% interest, yes. Money in the future is cheaper than money now, by a predictable amount.

Eh different strokes for different folks. Having bought 4 vehicles with cash and 4 vehicles with loans in the past 4 years I can say I HATE having loans.

13 years ago I bought a Mazda Protege. The dealer told me that Mazda was offering something like 3% financing on 4 years. I asked what 3 years looked like and he said zero percent. I asked why he didn't tell me that up front and he said almost nobody who bought a Protege could afford a three year loan. ??!?

I generally pay cash for cars now. I did take a small loan on the Fit and paid $290/mo for a year, and then paid off the loan.

I understand the low interest rates, etc., argument, but I think the bottom line is that some people - particularly younger folks - are buying cars that they really cannot afford.

$179/mo 4.9 % 5yr using cash back on credit cards(that are PIF every month) to pay down loan and will have it paid for this year. Amex blue cash pays 5% cash back on gas and Groceries after spending $6000+/-. BP Visa pays 5% cash back but that's changing. Its adds up fast.

'09 fit sport

i pay
 

my wife got a 2007 fit brand new, and put $1000 down... Her payment is $279/mo. for 6 years

I pay $298/month. $2,000 down payment and I'm paying it for 5 years.
I bought a 2011 Fit base MT

Some of you are including insurance in your payment. That throws it off.

I only have to pay $184/month for 60 months, but I pay $260, so it should be paid off in around 42 months. (12 down 30 to go)