Well, just figures that we pay my 2007 Honda Civic Si Sedan off November 2011, a year early on a 5 year note the wife's car becomes a hassle with repairs needed.
We picked up a 2010 Honda Civic LX Sedan with 22K miles for $14,300. We paid cash for the taxes, licensing fees etc, so we just financed the price of the car, $14,300 for 4 years @ 3.49%. The payment is $321.xx/ mo. We could have done 3 year loan, but figured the lower payment would be nice incase something happened with positive cash flow. I already have a pre-payment plan of 18-24 months payoff my tossing an additional $300/ mo. toward the principal.
We also decided to sell the old car privately and hopefully get about $500 more then what the dealer wanted for trade.
I had to adjust the monthly budget to reflect the car loan and additional in auto insurance. Even with the extra $300 to the car and $600 to the mortgage a month we still have $800+ positive cash flow to savings.
Auto Loan...Again
December 15th, 2011 at 11:06 pm
December 20th, 2011 at 07:38 pm 1324409931
We can't sell the car until we receive the title as my wife changed her name as we got married a couple months ago. Hoping to get like $1,000 - $1,300 for it. Hope that comes soon so we can list it!
January 14th, 2012 at 02:20 pm 1326550836