[QUOTE]Originally posted by SilverFog

Quote:

Originally posted by Mindcore
(a tip to you Ontario S2K guys -- I'm a native of Southern Ontario [London] and lived in Ottawa for a year before moving to BC -- Move to BC! Drive your S2K year-round!)

Your killing me! In T.O. we are still waiting for summer (cuz god knows we don't get spring )


rain rain go away, come again.. well... never!

 

Hey Silver, No need to go private.
My deal was this,
$48,000 list
$11,000 down. Including taxes
5 year, 60 month term @ 9.5% paymets are 679.00 month
buy back is $22,500

The kicker here is that Included in my payments are the taxes on the buyback. So when I'm ready to buy it out, I don't pay any more then the 22,5
Also the ownership is in my name, not Royals, or Honda's or anyone elses. Meaning I can do what I like to it. Cancel insurance ( collision anyway ) at my descretion.

The end result adds up to a fair bit of money, 9.5% is a joke but, for a guy like me, who takes alot of risks, some pay, some don't, your credit dosen't exactly show R1. This was the best rate I could get, regardless of how much money I make
But it's worth every dime.

Because it is set up like a typical lease, I can write off the payments just as easlily, whick basicly cuts my payment to a 1/3. The only better way I could have swung it was cash out right. But I decided to lose it in the market instead .
Hope this helps. If you have any other questions Just email, I'd be happy to help.

Mike

 

Yikes. Maybe the market was different in the Toronto area, but that scares me, man.

I've got a variable rate (the Fed has been slashing interest rates since Feb.) putting me at 7.75% right now, and over six years, no buy-out, I'm paying about $850/mo.

I hope you're a contractor or entrepreneur and can write this off.


...ah, I guess you are. In that case, then, sure, that was probably your best deal. Still surprised you couldn't do better than 9.5%. When were you shopping for rates?

I start playing the banks in early March'01, which might explain my rate. The best fixed rate I could have had would have been 8.5%, but with the Fed expected to announce another full point drop at the time, I couldn't bear to lock in at that point.

Is this car intended to be a keeper for you?


[QUOTE]Originally posted by Mindcore
But it's worth every dime.

 

[QUOTE]Originally posted by SilverFog

Quote:

By the way, when family and friends abroad wanted to know what I was getting myself into, the pictures of a silver/black S2K I sent them were yours, exclusively.

What can I say, I'm touched

As for the rate? Like I said, the credit ain't too good. You lose a bit of leverage, but it was still worth it for me. It sounds like you got great deal. Way to go! about $2500 bucks less then me
I bought my car in April of last year. If I remember correctly, market was up, rates high, and everyone thought the gravy train went on for miles funny how quickly things change.
The downside is you just reminded of my 70K+ expenditure!!
This summer better last a LOOONNGGG time

See ya!

 

[QUOTE]Originally posted by geordie

Quote:

Originally posted by SilverFog

Quote:

Originally posted by Mindcore
(a tip to you Ontario S2K guys -- I'm a native of Southern Ontario [London] and lived in Ottawa for a year before moving to BC -- Move to BC! Drive your S2K year-round!)

rain rain go away, come again.. well... never!

He he looks like someone heard my song.