If you paid cash for your car, or dumped 20Gs on the car, please don't post.
You have more money than me. I financed my entire car with 1500 down. I could only get the dealer to come down to 33000 on the car. I paid 1500 on that.
I went with 72 months and only 4.9 percent. (You do the math).
The point is, I am curious what everyone else is paying per month?

72 months man?? IMO, if you can't afford to pay off the car in 48 months, you should probably looked at the WRX.

Also, you just bought a 2005 and paid 33K? That's really high considering the 06's are being wheeled onto the lots.

how much are you paying for the car in total after all payments?

didnt pay for an sti but just curious since 4.9 is pretty high plus 72 monthes, thats 6 years. if you can get by it after insurance and mantience plus gas nowdays go ahead and enjoy yourself.

I bought my '05 in March (mfg. date January '05) and paid $32K with the security upgrade, boost gauge, and short shifter. I put down $7500.00 and financed the rest at 3.9%. My payments are $430.00/mo (I think) for 72 months. I'll probably pay it off in 60 months or somewhat less...

WORTH EVERY PENNY!!!!!!! :)

I paid $31,819 ++, put 0 down (actually rolled up ~$750 negative equity from the WRX) and financed for 63 mos at 3.9%. My payment is $596.

I'm not smart.

Put $2,500 down and I pay $587 a month for 63 months. :rolleyes: :mad: :D (I don't know which emotion I really mean... :lol: )

how much are you paying for the car in total after all payments?

didnt pay for an sti but just curious since 4.9 is pretty high plus 72 monthes, thats 6 years. if you can get by it after insurance and mantience plus gas nowdays go ahead and enjoy yourself.

With current rates, 4.9 for 6 years is actually pretty decent. The longer the term, the higher the interest rate.

Mine is also for 6 years, 4.9 at $525 a month. I don't plan on keeping the STI for longer than 3 years so really I don't care as much how long I have the loan for. I'll pay a bit more in interest money and when I sell the car I'll probably have to cover the difference in loan balance vs. actual sale price. It just fits better into my budget at this time. The only real worry is whether the STI's value will be decent enough when I sell it.

$603.month

No offense, but seeing the monthly payment y'all make for an STi makes me realize how happy I am that I "settled" for my WRX.

STi car payment + mod $ + insurance + living > than a teacher's salary

72 months man?? IMO, if you can't afford to pay off the car in 48 months, you should probably looked at the WRX.

A bit elitist, don't you think? Nevermind, I don't want to hear your answer. Few people do 48 month loans anymore, 60 is the norm, and 72 is quite common. So, did you finance your home for 25 years? If you didn't, you should have purchased a cheaper home :rolleyes:.

I don't want to wander too far off topic or start a flame war but joeyb7 is dead on. I'd go a step further, you shouldn't finance a car past the warranty period. In 4-5 years when tons of things start to crap out, you'll be facing significant repair expenses on top of your still hefty monthly payment.

Critizing what people pay for a monthly payment is kind of absurd. What if I make $120,000 a year? If I am bringing in 10k per month in salary, $1000 a month isn't too big of a deal as far as a car payment goes. Your monthly car payment should be measured against your take home monthly salary to determine if someone is overspending.

I guess it's all inpersepective. With rates as low as they are, I would finance a vehicle as long as possible. Also, I assume even the most lowly car is going to run $333 a month (20k/60 months @ 0% = $333) so $500 - 600 a month for a 30k+ car sounds just right.

With current rates, 4.9 for 6 years is actually pretty decent. The longer the term, the higher the interest rate.

Mine is also for 6 years, 4.9 at $525 a month. I don't plan on keeping the STI for longer than 3 years so really I don't care as much how long I have the loan for. I'll pay a bit more in interest money and when I sell the car I'll probably have to cover the difference in loan balance vs. actual sale price. It just fits better into my budget at this time. The only real worry is whether the STI's value will be decent enough when I sell it.

if your making the min payment then nope you will be screwed on your next purchase. People you need to learn to pay keep cars longer. Cars are getting more and more expensive, so when you put little down finace for 6 years and make min payments and then you have the urge to get a new car in 3 years, you are in the red and now you repeat the process, you will have to add what you owe to the next loan, put little down, and make min payments and right away you already owe way more than the vehicle is worth. I kept my first car for 7 years and paid it off in 3 years. I saved up so much money that I bought my 05 RS with cash, and it is my daily driver. It will easly go a good 10 years before I need to get rid of it. I do plan on buying me my fun car soon, but with the way I do this I will always come out ahead

A bit elitist, don't you think? Nevermind, I don't want to hear your answer. Few people do 48 month loans anymore, 60 is the norm, and 72 is quite common. So, did you finance your home for 25 years? If you didn't, you should have purchased a cheaper home :rolleyes:.



It's better to do a 15yr. loan on house. The extra $200-$300 more you pay a month will save you $250,000.00+ depending on the cost of your house. :)


Plus, lets take the first post as an example. $33,000.00- $1,500.00 = $31,500.00.

Now 31,500.00 × 0.049 × 6yr. = $9,261.00 in interest.

So the car will end up costing $40,761.00.

Not that it's wrong, but it kills me that most people only look at the monthly payments instead of what the car is actually going to cost.

A bit elitist, don't you think? Nevermind, I don't want to hear your answer. Few people do 48 month loans anymore, 60 is the norm, and 72 is quite common. So, did you finance your home for 25 years? If you didn't, you should have purchased a cheaper home :rolleyes:.
Except houses generally appreciate and cars generally depreciate :)

IMHO, if you have to do something like that, it's not worth it.. there's a lot of upkeep costs with a car like this as well.

Critizing what people pay for a monthly payment is kind of absurd. What if I make $120,000 a year? If I am bringing in 10k per month in salary, $1000 a month isn't too big of a deal as far as a car payment goes. Your monthly car payment should be measured against your take home monthly salary to determine if someone is overspending.

I guess it's all inpersepective. With rates as low as they are, I would finance a vehicle as long as possible. Also, I assume even the most lowly car is going to run $333 a month (20k/60 months @ 0% = $333) so $500 - 600 a month for a 30k+ car sounds just right.

You have a point if you make plenty of money then go ahead and blow it. However just because you make 120,000 a year doesnt mean you spend 130,000 a year. I dont know how it is in the rest of the states, but here in Texas peole have the worst credit and more people have over extended their credit and spent money they dont have than any other state. When you set the trend to buy a nice 300,000 dollar house and trade in cars every 3 years, you will get screwed fast

Not that it's wrong, but it kills me that most people only look at the monthly payments instead of what the car is actually going to cost.

We live in a "NOW" society, most people will gladly pay more later (in some cases a LOT more) if they can enjoy something nicer from now 'til then. This is about quality of lifestyle, while you may be the smartest man on the planet and save the most money in the end, is your daily lifestyle up to the quality of the guy who is in debt to his eyeballs? Think about it. Hell, you both could die tomorrow, then who had the last laugh?

br93lx i think your calculation of interest is wrong for 2 reasons: 1st interest is not compounded yearly, 2. You work down the principal so you are not paying 4.9% on 30k at the end of the loan because at that point you are only barrowing a fraction of the initial loan.

br93lx i think your calculation of interest is wrong for 2 reasons: 1st interest is not compounded yearly, 2. You work down the principal so you are not paying 4.9% on 30k at the end of the loan because at that point you are only barrowing a fraction of the initial loan.

You are right in the fact my equation is slightly flawed. It doesn't add in tax.

Lets use STirocket since he has all the figures needed.

I bought my '05 in March (mfg. date January '05) and paid $32K with the security upgrade, boost gauge, and short shifter. I put down $7500.00 and financed the rest at 3.9%. My payments are $430.00/mo (I think) for 72 months. I'll probably pay it off in 60 months or somewhat less...

WORTH EVERY PENNY!!!!!!!

Now, his car was $32,000 - $7,500 down payment. This leaves him financing $24,500.00 at 3.9% for 72 months.

So $24,500 × 0.039 × 6 = $5,733.00 in interest for a total of $30,233.00.

Now take his payment $430.00 x 72months = 30,960.00.

Like I said, the only thing mine didn't include was taxes and other b.s. charges.

I don't want to wander too far off topic or start a flame war but joeyb7 is dead on. I'd go a step further, you shouldn't finance a car past the warranty period. In 4-5 years when tons of things start to crap out, you'll be facing significant repair expenses on top of your still hefty monthly payment.

Cars now a days are extremely reliable and it would be stupid to think that after your warranty period is up things start to "crap out". Thats absurd. You should go 100+ with minimal repairs...this is not the 70's. You're talking about people that drive 20-25k a year having pay their cars off in less than 2 years??? Get real.

Critizing what people pay for a monthly payment is kind of absurd. What if I make $120,000 a year? If I am bringing in 10k per month in salary, $1000 a month isn't too big of a deal as far as a car payment goes. Your monthly car payment should be measured against your take home monthly salary to determine if someone is overspending.


If you're pulling in $120k/yr, then you should be saving money, investing it, and buying your expensive toys with a check. Nothing sadder than 30 years of 6 figure salaries with nothing to show for it at the end.

A bit elitist, don't you think? Nevermind, I don't want to hear your answer. Few people do 48 month loans anymore, 60 is the norm, and 72 is quite common. So, did you finance your home for 25 years? If you didn't, you should have purchased a cheaper home :rolleyes:.

That's not elitist, it's practical. A car is a depreciating asset - houses appreciate. The fact is, if you can't buy it in 3 or 4 years, you shouldn't be buying it. Yeah you want it now, but if you wait, it'll cost less and you'll pay less in finance charges.

Remember, $25k at 6% for 5 years = ~$29k total paid + insurance. Have fun, but save for the future.

All these $600 car payments are making me glad I settled for a regular WRX also.. $360 aint so bad.

if your making the min payment then nope you will be screwed on your next purchase. People you need to learn to pay keep cars longer. Cars are getting more and more expensive, so when you put little down finace for 6 years and make min payments and then you have the urge to get a new car in 3 years, you are in the red and now you repeat the process, you will have to add what you owe to the next loan, put little down, and make min payments and right away you already owe way more than the vehicle is worth. I kept my first car for 7 years and paid it off in 3 years. I saved up so much money that I bought my 05 RS with cash, and it is my daily driver. It will easly go a good 10 years before I need to get rid of it. I do plan on buying me my fun car soon, but with the way I do this I will always come out ahead


I understand what you are saying but you also have to understand that each situation is unique. People will try to do what is best for them and their current budget. I'm a DINK and I could have put more money down and gone with a shorter loan term but this situation fits me best. If you are at your utmost limits in making the payment, then I certainly don't advocate that.

I just have better use for the money I'm saving in the short term. I already knew I'd be upside down w/ this length of loan. But I'm prepared for it and as long as the upside down gap is not too great when I sell the car (like greater than $3K), I can handle it. I guess I could've leased too but I like being able to drive as many miles as I want and be able to sell it w/ as little hassle as possible.

This scenario is really not financially respondsible but for most aspects of my life, I'm very good with the savings so I can let this part slide..... Hey for the STI we'd do anything...right? ;)

We live in a "NOW" society, most people will gladly pay more later (in some cases a LOT more) if they can enjoy something nicer from now 'til then. This is about quality of lifestyle, while you may be the smartest man on the planet and save the most money in the end, is your daily lifestyle up to the quality of the guy who is in debt to his eyeballs? Think about it. Hell, you both could die tomorrow, then who had the last laugh?

This is true, but in my case I can't think of just myself. I have a wife and child. When I die I want them financially secure and have the ability to live in the lifestyle they are accustomed to.

Yes I know as soon as my grandson gets his inheritance (whenever he is born) will blow what took me years to save in 6 months on women and cars.... :p

.. a well paying job and the owners of nice Subaru cars or any other cars for that matter. If you take a look at this thread and the other one where somebody posed the question "What is your occupation?", you will very quickly realize that a lot of people who own the WRX's or WRX STI's are people who typically pull in less money that you would think.

This is my opinion and only what I think. It does not reflect on what others think; so, if you are going to bash me, please save your breath.

With that disclaimer above, I think if you are going to make a car payment of $500 - $600, you should typically pull in around $40K (plus minus a few grand based on where you live). Let me try to break down my calculation:

Rent: $7200/year ($600/month)
Utilities+cable: $1800 ($150/month)
Cell phone: $600 ($50/month)
Food/gas: $3600 ($300/month)
Savings: $2400 ($200/month)
Insurance: $1440 ($120/month)
Other misc: $3600 ($300/month)

Total = $20,640 --> $40K (after taxes ~ $28,000)

That leaves $7,360 for other stuff. However, when you take a look at the thread, most people who buy the cars are college students. How are they affording it? :confused:

^
^
Parents are paying for it....duh.

.. a well paying job and the owners of nice Subaru cars or any other cars for that matter. If you take a look at this thread and the other one where somebody posed the question "What is your occupation?", you will very quickly realize that a lot of people who own the WRX's or WRX STI's are people who typically pull in less money that you would think.

This is my opinion and only what I think. It does not reflect on what others think; so, if you are going to bash me, please save your breath.

With that disclaimer above, I think if you are going to make a car payment of $500 - $600, you should typically pull in around $40K (plus minus a few grand based on where you live). Let me try to break down my calculation:

Rent: $7200/year ($600/month)
Utilities+cable: $1800 ($150/month)
Cell phone: $600 ($50/month)
Food/gas: $3600 ($300/month)
Savings: $2400 ($200/month)
Insurance: $1440 ($120/month)
Other misc: $3600 ($300/month)

Total = $20,640 --> $40K (after taxes ~ $28,000)

That leaves $7,360 for other stuff. However, when you take a look at the thread, most people who buy the cars are college students. How are they affording it? :confused:

Heck if you pulled just 40K in my area (D.C.), there's no way you are going to afford a $500-$600 car payment. You'll either have to live at home or put down a hugh down payment. That's probably how they are affording it. I'm also sure that a number of people also mod their cars with their credit cards too ;)

Whatever way a person may take out a loan, just remember that a car loan can be rid of by selling the car. You can't do that with CC debt.

Rent: $7200/year ($600/month)


OMG Where the hell can you rent something decent for $600 a month! It's definitely not in Jersey. I rented a one bedroom for $1200 a month and that was 3 years ago.


Is anyone leasin out there? I'm glad this thread is up because I'm thinking of getting a second car, leasing an STI just for fun, but I have no idea what the lease prices are.

umm... first off... I wasn't asking to justify payment amounts, just how much your payment was... I was curious where I fit within the scheme of things.

2nd.. comparing houses to cars? I've had my newly built house for 5 years and I still owe more than I could EVER sell the house for... I'm about 30,000 higher than some of the other homes in my neighborhood (at the same size) So unless you bought a 250,000 dollar home, houses do not always appreciate. Fortunately I am renting it out now... THANK GOD!

Finally, if we are talking about spending money unwisely... before looking at someone who buys a Subaru... I would suggest looking at all those idiots who buy 50,000+ SUVs that get less than 15mpg (i.e. Hummers). And on top of that, I watch someone with a Hummer scared to drive through water or over a curb.

What I mean is, unless you were born into money(parents who helped you through college), inherited money, or won money... you are going to go into debt sometime in your life. But it's not how much money you spend that is important... it's what you spend your money on that matters!!!

Too far off the thread topic now...

OMG Where the hell can you rent something decent for $600 a month!
Here is Texas. You can get a nice 1 bdr (~700sqft) in a good neighborhood for around $550. CA and some places in the NE aren't the norm.

Now 31,500.00 × 0.049 × 6yr. = $9,261.00 in interest.

So the car will end up costing $40,761.00.

:eek: Wow..... just wow.

i sold drugs through high school :devil: and when i graduated spent it on a down payment on my dream car. 2004 subaru wrx sti. i put down 10,000 cash and im paying 3.5% for 60 months. monthly i pay $300 couldnt love my car anymore....still got my old car 2 which im probably gonna sell here soon. Honda Accord 99' V6 2DR. :banana:

If you paid cash for your car, or dumped 20Gs on the car, please don't post.
You have more money than me. I financed my entire car with 1500 down. I could only get the dealer to come down to 33000 on the car. I paid 1500 on that.
I went with 72 months and only 4.9 percent. (You do the math).
The point is, I am curious what everyone else is paying per month?

look up the invoice price, wait until the end of the month, and then find someone who will sell it to you for a few hundred over invoice. Invoice should be somewhere around 30,140 dollars for the 05 sti. I had $7200 to put down, and 2.9% for 5 yrs puts me at $441 per month (I paid a little too much because I went at the beginning of the month and picked out one right after thay had received a shipment). After taxes, tags and ALL fees, you should pay NO MORE THAN 33,000. That's what I paid ( which, again is a little too much). I have no regrets, but make sure you don't. Good luck.

One of the reasons I like to avoid 7 year car loans is that you never know when you will hit a big pothole or get into a minor accident. The insurance pays to repair the car, but the repair cannot be perfect and the car will be slighty out of alignment for the rest of the loan.

dammmm,, 600 car payments.. Me and my wife just got a 277000 home and we pay 250 a month for her 2000 honda civic.. i have a 92 hatch back that i play around with, which is paid off .. Was looking into a 02-03 wrx for around 14000 to 16000,, put down 5000 and finance the rest.. bout 10,000.. payments around 240 a month.. for 48 months..

...but the repair cannot be perfect and the car will be slighty out of alignment for the rest of the loan.

:lol:

You need to find a good mechanic or a good insurance company or both.

i sold drugs through high school :devil: and when i graduated spent it on a down payment on my dream car. 2004 subaru wrx sti. i put down 10,000 cash and im paying 3.5% for 60 months. monthly i pay $300 couldnt love my car anymore....still got my old car 2 which im probably gonna sell here soon. Honda Accord 99' V6 2DR. :banana:
Way to be proud of that :rolleyes: