uglybastard
Autocross Champion
i'll still try it, honestly. after a few minutes of not getting anything i'll concede. i think last year when i did this i had cleared a CEL before trying to force it.
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ChiChat19: 10k Posts Achieved In Revived Dead Thread
- Thread starter uglybastard
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KollinWithaK
Autocross Champion
Not exactly mod related, but still car related.
Was able to refinance the R and got a much lower rate, and got quoted a new insurance rate for both cars and will be saving collectively over $200/month between both changes which is sweet. More mods and computer parts hopefully.
Posting this cause I'm proud of myself for getting that done lol
Was able to refinance the R and got a much lower rate, and got quoted a new insurance rate for both cars and will be saving collectively over $200/month between both changes which is sweet. More mods and computer parts hopefully.
Posting this cause I'm proud of myself for getting that done lol
jay745
What Would Glenn Danzig Do
Nice! Before I paid off my gti I refinanced it twice. Saved almost $1k total over a 1.5 year period.
sterkrazzy
Autocross Champion
I want to do that with my R soon too. Payments are like $515 a month right now and my apr wasn't that great. If I knew a pandemic was coming I would have waited a few more months for one of those 0% apr 0 payments for 6 months Rs.
I just started making payments ahead of time, so right now I'm only a couple months ahead, and at the same time I'm putting money into savings and once I have a couple thousand saved up I'll put it towards the principal. I want to get my loan below $25k owed before I refinance. I'll still end up paying it off early with the refinance, but I'd like to lower that $500 payment a little bit.
I did something similar with my GTI and still paid it off a year early.
KollinWithaK
Autocross Champion
Thanks, it seemed like a good adult thing to do and was pretty intimidating as a young adult (I'm only 22 for any who didn't know) to be honest. I waited a year of paying into it before I tried refinancing.
I'd like to pay off early, but I don't seem to understand how people budget for that yet. I have never missed a car payment (for any of the last 2 vehicles or this one) since I was 18, but I've always paid maybe a week or two in advance. I still save money every month for savings and pay all my other bills, but I don't put any extra into the loan. But I guess any amount I put into it will pay off in the long run, right? I guess I always thought people would double up on their payments or something. But even $50 bucks extra a week or month would add up
uglybastard
Autocross Champion
but then you wouldn't have an R because you'd be dead...
sterkrazzy
Autocross Champion
My car is really my only payment so it makes it a lot easier for me to do that. I'm not making a lot of money, I just have very low expenses. Then I can see how much of my payment goes into interest, and that kinda motivates me to correct that.
I think a year wait is about the way to do it though. I waited around a year to refinance my GTI. I bought my R 11 months ago and it'll probably be refinanced in a couple months. If you wait too long then you're making payments for too many years. That's another reason I try to pay it off early. I don't want to be making payments for 7 years because it was originally financed for 6 years and then after a year refinanced for another 6 years. I want payments to be over within 6 years of the original purchase date.
When you get that loan closer to $0 I bet you start putting more into payments. I know when my GTI loan had about $5k left I started focusing on paying it off a lot quicker.
jay745
What Would Glenn Danzig Do
sterkrazzy
Autocross Champion
Financing cars for 7 years is hella adulting
Sorry sterkrazzy :wub:
lol, *shrug* I bought something more expensive than I probably should have. I've always had shitty spending habits, but my car is the only debt I have. I'll still get it paid off before 6 years even if it's financed for 7.
The boat loans we do for people are typically 12-15 years. Should see the interest on just a $70k boat after 15 years.
jay745
What Would Glenn Danzig Do
Oh I bet they are insane. You end up paying the price of 5 boats by the end of it
KollinWithaK
Autocross Champion
Well I got into a lot of shit when I had a Veloster Turbo when I was 18, and it caught up to me insurance wise lol (read: wrecked it in a fender bender), so I learned early on where to have my fun and where to keep control.
Yeah, this is my longest loan term at 4 years, my others have all been 3. But the others got paid off in lump sums. First one got wrecked and had a payout, the second I sold it and paid the loan off with money from the sell. I hate having a loan though.
Also my only debt (not counting the odd $100 for gas/groceries on the CC), no student loans, don't own a house, etc.
I'd never buy a brand new boat lmfao
uglybastard
Autocross Champion
i usually go for 5 *iono*Financing cars for 7 years is hella adulting
Sorry sterkrazzy :wub:
brat_burner
Autocross Champion
Not sure who you financed with but they likely will let you make a principal only payment in addition to your regular payment. If they don't disclose this to you then it's likely they would rather you not lol. So yea tacking on another 50 or whatever you can afford isn't a bad idea. Paying early may not be helping much.