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Old 02-07-2001, 09:48 PM   #1
Eric SS
Sooby Guru
 
Member#: 1914
Join Date: Jul 2000
Chapter/Region: SWIC
Location: 2013 335i, 2011 G37 coupe
Vehicle:
2000 2.5RS w/ EJ22T
swap and N20. gone. : (

Post Just making sure my fellow AZ guys see this

Make sure you read my thread on this. Even if you are half way into your loan, you can benefit from this. Just trying to save everyone as much money as possible...
http://www.i-club.com/ubb-files/Forum1/HTML/018855.html

Eric
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Old 02-08-2001, 06:40 AM   #2
Red-Imp
Scooby Specialist
 
Member#: 1742
Join Date: Jun 2000
Chapter/Region: SWIC
Location: Gilbert, AZ, USA
Vehicle:
2000 Imp 2.5 RS, SRP
& a fast red car ;)

Wink

Paying your loan principle down early (however you do it) is always a good idea. The problem is that most people buy the most expensive car (house, whatever they're financing) they can afford, so it's very hard to pay any extra. I say, put as much down as you can afford (hell, pay cash if you can). It really cuts the interest expense.

-Red
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Old 02-08-2001, 09:19 AM   #3
Eric SS
Sooby Guru
 
Member#: 1914
Join Date: Jul 2000
Chapter/Region: SWIC
Location: 2013 335i, 2011 G37 coupe
Vehicle:
2000 2.5RS w/ EJ22T
swap and N20. gone. : (

Post

With my way of paying the car loan, you don't pay any extra except your first payment!

Eric
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Old 02-08-2001, 09:40 AM   #4
slidewaysmike
Scooby Specialist
 
Member#: 3517
Join Date: Jan 2001
Location: Ohio
Vehicle:
2005 Legacy GT
Silver

Post

Good point Eric, that does sound like a good little plan, perhaps I will start doing that on my car loan. You can just pay the initial double payment any time right? Then start the bi-monthly payments after that? I have auto-payment right now, I wonder if I can get them to do that for me.

Mike
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