IA-SteveB

I paid cash. I already had a small 0% loan on my 2016 Rav4 daily. I had the cash sitting around from a previous car sale though. I wouldn't have pulled money out of savings for a toy.

rpg51

Cash.

Say Chi Sin Lo

Umm... holy crap, you just gave me a grand idea!

Toyota/Honda are always having 0% loans as their promotional sales (free money!)

I could sell my Mazdaspeed 3, and use that towards a Honda S2000 instead. I could use a REAL daily. Mazdaspeed 3 is kind of punishing (It's on Mazdaspeed (rebranded KW V3) Coilovers + motor mounts). And I could use the AWD for snowboarding season as well.

Thanks for the idea man!

Car Analogy

I hafta admit I was confused for a moment there. So your plan is:

- sell Mazda, use proceeds to buy an S
- Buy a new awd dd at favorable new car financing

So instead of trying to figure out how to finance an S, you'll finance a new dd instead. A creative solution, if perhaps a bit fiscally questionable.

But then, what is money for except to fund whats important to you...

silenc3x

I financed mine from Honda in 2008. 2005 Berlina Black with 30k miles for $22k. Put $2k down and then bent over for Honda and their loan terms. 25k in total over 5 years for 20k loan... came out to $450 a month for 5 years, but it's all I could get since I was pretty young and no real credit (21 years old)

It's been paid of for 5+ years now and still my daily driver. I'd do it all again if I went back in time. Love my car.

The best feeling was getting my title in the mail after paying it all off.

vortamock

Not a baller here.

I completely financed my first one through a credit union. It was an 03 in 09 for 15k and was my new dd replacing my broken down turbo Miata dd. Paid it off as quickly as possible while working at Wal-Mart. About 3 years I think.

Totalled it and used the insurance money plus savings as a down payment on a brand new off the lot Juke Nismo RS. Was a fantastic car, but missed the s. Sold the Juke before ever paying it off and used that money plus borrowed 3500 from a friend to buy my current s. Lost a lot of money on the Juke, but at least I can say I've bought a new car before I guess.

Say Chi Sin Lo

Haha, I don't blame you for the confusion. Financing a new daily was never in my plan until earlier today, thanks you @IA-SteveB.

My original plan was to keep my 2009 Mazdaspeed 3, even though it's aging, and use it as my daily. But, 0% financing is very attractive.

NOTHING IS SET IN STONE, I just know that an AP2 is in my not-to-distant-future.

Say Chi Sin Lo

Ooooh ouch man

But... you have a S2000 and I don't, so you win!

Say Chi Sin Lo

Thank you for your input! It's good to see other purchasing options. It sounds like you would do that again if you had to?

silenc3x

Yes. I felt comfortable with the monthly payments compared to the amount of money I was making. And it was the car I really wanted.

If you can afford it, and it's the car you want, go for it. If you decide to finance, shop around for the best rates you can find. Not everyone has $20k cash available.

... Every single car is a depreciating asset. And speaking of depreciation, the S2000 depreciates ridiculously slow compared to most other cars. Keep her in good condition, take care of her, and she'll keep her value surprisingly well.