I am asking because I just got married and my wife has a civic and that is what she pays. Thanks!
2007-08-26 15:09:04 · 16 answers · asked by mastab0323 1 in Cars & Transportation ➔ Car Makes ➔ Honda
Yes it was purchased brand new and she didnt put anything down. It was her first car to purchase.
2007-08-26 15:44:23 · update #1
What did she pay for the car?
$350 a month doesn't answer anything.
2007-08-26 23:09:46 · answer #1 · answered by bestonnet_00 7 · 0⤊ 1⤋
In my opinion that is not a lot for most any car. I have a 2006 Civic which I pay over $500 for. It is a hybrid and I do save in gas (about 45 MPG). We need to know if this was purchased new or recently used and what the price was at the time of purchase, the interest rate and the length of the loan. The main thing is the price and if it was fair at the time of purchase. If the interest rate is less than 8% and the length of the loan is 5 years or less, then the monthly payment is quite fair, considering many cars lease for that amount and you have to either buy or surrender the vehicle at the end of the lease period.
2007-08-26 22:20:14 · answer #2 · answered by Boomer 5 · 0⤊ 0⤋
WOW, a lot of people here don't know how a car payment works and what OTD pricing to TC means.
Anyways...350/mo for 60mo comes to 21k and if she has the 5yr term then she is fine. I hope it is the EX though. 66mo would be decent too with 0 down, but 72mo would be too much.
I pay 340 for my 07EX for 6 years with 0 down.
But with the sale of my old car I will make the finance charge back in stocks in 5 years and pay the car off in 5 years, not 6.
2007-08-27 12:31:05 · answer #3 · answered by k g 3 · 0⤊ 0⤋
I think it is. I have a 2005 CRV and I pay 333 per month. Are you leasing or financing? I am finacing and I made a down payment of about $5000.
2007-08-26 22:12:51 · answer #4 · answered by Jimmy 3 · 0⤊ 0⤋
Sounds a little high. But I'm guessing since she didn't put a downpayment that could be part of why it is so high. It also depends what payment plan she is on, because monthly payments change depending on how many months she has to pay it off. It also depends what "extras" she had put on her car.
2007-08-27 15:03:29 · answer #5 · answered by sun_shinevt 6 · 0⤊ 0⤋
did she by it new? 350 is about right depending on how much she put down and the intrest rate on the loan. If it is two much of a problem, she may be able to refinance for a lower rate. I would shop around and see if thats an option.
2007-08-26 22:13:45 · answer #6 · answered by gearnofear 6 · 0⤊ 0⤋
Depending on the length of the loan, that could be a very high amount. If it was recently consolidated, that's a little more reasonable, but generally, yes, that is A LOT per month.
2007-08-26 22:13:18 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Depends on the down payment and even the interest rate. It sounds pretty good unless it is fir 8 years or something like that.
2007-08-26 22:12:47 · answer #8 · answered by Jody D 6 · 0⤊ 0⤋
Monthly payment amounts don't matter as long as you can afford them. The important ? is 'How much did she agree to pay for it, and what is the interest rate?' These will determine how much the car costs overall, which is the important thing.
2007-08-26 22:17:45 · answer #9 · answered by Bonzai Bob 1 · 1⤊ 0⤋
yes that would be but like you said she didnt put anything down, and im gonna guess that she made a finance and what looks lik to be around a 7% apr on aprox. 17000 dollars
2007-08-27 11:09:14 · answer #10 · answered by big H 4 · 0⤊ 0⤋