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Originally Posted by foff667
fwiw 40k loan for 5 years at 5.99%=773.13 roughly with 60 monthly payments
that same 40k loan for 5 years at 5.99 with biweekly payments=$356.42 payments...so its like a $70 savings every month...which might allow you the room to do a 4 year loan for just about the same price.
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That's kind of my point. $773 a month car payment plus a $1500-2000 a month mortgage payment! Add new car insurance plus gas and it must mean that most of these people driving new $35-40K cars/trucks are making $200K a year! Oh, and a lot of them have new toys like WaveRunners and ATV's. I'm just keeping my fingers crossed that my 4Runner keeps running well until I can get my JL8 done. I guess the bad situation for me is that the only running vehicle I have is worth $2500 so if I did want to buy something newer it would mean I'd have no real trade in.