Buying a 2011 g37xS right out of college: Good idea?
04-27-2011, 11:41 AM
#31
not trying to beat a dead horse here but I saw this again today and it was interesting so I did a little exercise based on current pricing adn some of Matchan's info above...
Cost of 2010 G37X is $39,150.00
PA sales tax = $2,349.00
Closing cost/registration/etc : $250 (estimate)
Total cost of the car: $41,749.00
Assuming your Escort is the last produced in 2002 with 100k miles. The MAXIMUM value you have in it is: $4,000.00 retail sales.
$41,749.00 New G37x
-$4,000.00 Old Escort
=$37,749.00 LOAN AMOUNT
This loan at 3% for 60 months will cost $678.30/month for the full 60 months.
Total amount paid in 60 months is $40,698.00.
$40,698.00
+$4,000.00 Escort
= $44,698.00 paid for the $39,150.00 car.
= $5,548.00 extra in interest (not terrible).
Then factor your 100% comprehensive coverage (required on a financed vehicle)... Another $210/month with a clean record.
This car will cost you $886.63/ month before you put a gallon of gas in it.
There are quite a few assumtions in here but it's a way to look at the costs and get an idea where you would be.
Cost of 2010 G37X is $39,150.00
PA sales tax = $2,349.00
Closing cost/registration/etc : $250 (estimate)
Total cost of the car: $41,749.00
Assuming your Escort is the last produced in 2002 with 100k miles. The MAXIMUM value you have in it is: $4,000.00 retail sales.
$41,749.00 New G37x
-$4,000.00 Old Escort
=$37,749.00 LOAN AMOUNT
This loan at 3% for 60 months will cost $678.30/month for the full 60 months.
Total amount paid in 60 months is $40,698.00.
$40,698.00
+$4,000.00 Escort
= $44,698.00 paid for the $39,150.00 car.
= $5,548.00 extra in interest (not terrible).
Then factor your 100% comprehensive coverage (required on a financed vehicle)... Another $210/month with a clean record.
This car will cost you $886.63/ month before you put a gallon of gas in it.
There are quite a few assumtions in here but it's a way to look at the costs and get an idea where you would be.
04-27-2011, 01:10 PM
#33
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+ 1...Lease payments shouldn't be bad at all..even with just your trade down
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