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Just in case, I actually got a warranty for 5 years/100,000 miles on the car. I want to be sure everything will be ok for at least that long. This one might actually be around long enough to be paid off.
Don't get me wrong, the Jetta's a nice car. But my credit wasn't the best when I got it, and the interest rate reflected that. I got a Chrysler because I work for them and got a killer deal first, but I do like the vehicle alot. I also needed more room (for my dog and my niece and nephew as they grow up) than the Jetta provided.
Enjoy the NEW car!
I could have gotten 0% for 60 months, and it would have still been less than the Jetta's payment I had. I wanted to stretch it out a little though because I wanna use money for other stuff as well as the car. The car was also about $2500 less than MSRP and $250 below even dealer invoice, so I have some equity to 'play with' there.
I can always pay it off early if I want to. Also, with the interest rate, it shouldn't be upside down. I also drive alot less than I used to as well, so that will come into play.
What is "GAP" insurance? (GreatAutomobilePerformance, GreenAccessoryProtection ;-)
Why not finance for as loonnnggg as possible if the rates are exceptionally low AND one plans to keep the vehicle for over 12 years?
Is it not irrelevant what the "bluebook value" is on a vehicle if one does not plan to sell it?
Should I have paid CASH for my Jetta? (although I plan to keep for over 12 years) I thought it was best to put my CASH into higher-yeilding returns if the loan rate was below that. (It takes me 12 years to save up enough money to purchase the next vehicle 8-)
The only financial benifet I can see to purposely shortening an auto loan is that it would allow one to remove that pesky, expensive collision insurance and only carry liability.
Am I missing something else here?
think about this:
How can the NEON have such mediocre reliability while the PT crewzer does not?... is it the clientele that purchase the PT are less critical of the vehicle? Are the clientele that purchase the NEON harder on the vehicles?
The base 2.4 liter engine came from Chrysler's minivans.
The early Pronto concept cars were based heavily on the Neon's floorpan and mechanicals, but as the Pronto evolved into the PT, Chrysler found that it just couldn't get the Neon platform to work with the twist beam axle and Watts linkage. So, someone logged onto the CAD station and whipped up a new platform, which borrows from Mopars past and present, but shares very few parts-bin bits with them.
the cranberry looks nice. do me a favor - DO NOT PUT WOLFSBURG STICKERS ON THIS ONE, haha.
just think, you can also use cheap gas now!!
oh, and don't be fooled. you don't have any equity in that car. in order to have equity, you would have needed to pay about $14k for it. "equity" and "brand new car" are terms that don't ever mesh, unless you put down thousands and thousands. in which case, you lost money anyway.
keep this one - my mom keeps her American cars until they die. her 95 Grand Am has 300k miles on it now, her 95 Stratus 100k miles. no engine rebuilds, only maintenance and lots of brakes.
You're correct. I keep beating my friends over the head with this. One person stated she had 20k and she was going to buy a new car. Straight out! Uh, if you can get a 0% loan for 5 years and you plan (as she did) to keep the car for 7, then finance it! People just aren't very good with money. Simple as that.
BTW, I'm fairly certain the PT and Neon share a platform.
http://www.automotive-technology.com/projects/pt_cruiser/
http://autoreviews.com/chrysler/pt-cruiser_2000.html
http://www.edmunds.com/new/2004/chrysler/ptcruiser/100288269/road- - testarticle.html?articleId=44277&tid=edmunds.e.roadtests.cont- - ent...Chrysler* "Its Neon beginnings shine through in the Cruiser's excellent suspension tuning, responsive turn-in and minimal body roll."
Um, excellenting suspension on a Neon? To each his own.
That's a lot different than saying "it's a Neon" as if it was simply a re-skin.
The last words that come to mind when driving a Neon are "good suspension." On a scale of 1-10 (dumptruck being a 1 and racecar being a 10) i'd place the Neon at around a 3. Maybe a 4.
Of course my displeasure with my few neon rentals resides mostly in the engine, drivetrain, transmission and interior materials/refinement. How that car is sold is still beyond me.
The platform was originally based off a modified Neon platform, but is generally considered to be a "new" platform, often referred to as a "tall wagon" or "light truck" platform. (I think they might have been able to squeak it in as a light truck, which relaxes the CAFE requirements) There may be some shared bits here and there, but the engine came from the minivan line (although the new turbo engine may be similar to that in the SRT-4, I'm not sure) and overall there is enough difference that it's really not fair to say the PT is a Neon.
So you work in Chrysler Finanacial now, eh? I work as a Finance and Insurance Manager for a Chrysler dealership
The PT is a very nice car, and the limited is nicely equipped. Saving 125 a month on payments has to feel like the best luxury.. Chrysler have some great cars, if only because they are Diamler Chrysler now and share a lot with MBZ. If I would guessed which car you would have chosen from Chrysler aftwer the Jetta my money would have been on the Liberty. Lately I have noticed the same people who lease Jetta's trade them in for a Liberty lease.
I think the PT comes with a 7/70 powertrain warranty now too, so you're good..
so interesting to hear you are a big believer in Gap insurance..I sell it all the time to clients, but have just recently found out some insurance companies automatically give it with their policies.. it's worth talking to your insurance agent everyone and finding out if your policy has it..leasing contracts always include gap insurance..
anyway enjoy your new car..
I am still in the 02 Jetta 1.8t.. can you beleive only 8900 miles after 1` year of ownership.. oh the benefits of working close to home..
next car is the NB Cabrio or Audi TT or Crossfire if all goes well.. ha ha fun to dream..
Donna
Donna: Surprising you work for DCX as well. Look at the prices you get for working there. That's mostly why I chose the PT, it's alot cheaper to own and buy than the VW is/was. The added bonus was the reliability data I found in Consumer Reports magazine. How about the 02 PT has a higher reliability rating than the 02 Camry OR Altima? I found it as a shock too, but it's right there in black, white, and red.
Thanks for the well wishes.
I hope its next owner loves it more than I did.
Suck it up, learn a lesson and move on I guess.
Got nothing to complain about tho. Jetta is good.
Vocus glad you are enjoying the PT. It has a lot of style for the dollar..I am pleasantly surprised by the market who are attracted by that car.. a lot of young Gen X'er types, and a few older people who have had Jags and Cadilliac for years and are just attracted to the PT's retro look.. I kid you not. It really does cross boundaries across the board in the marketplace..I am also surprised that the PT Limited is the biggest seller, and the PT GT (turbo) rarely sells at all..though performance is increased.. I guess people feel the PT look is enough of a statement and don't work to fork over the extra $$ for more power..VW is the only company I know of that was able to introduce different engines in the same body style with any real success I know of.
I work at a Chrysler and Ford dealership, so I will proably end up getting a Ford Mustang convertiable (GT if I can afford the extra $$ of stepping up to the better engine at that time.) Luckily I am eligable for the A plan through Ford which is about 3000 behind invoice) and Chrysler only offers us invoice pricing plus 750 employee rebate..so Ford is going to get my business next time around.
I Love the NB cabrio and think they will hold their resale well, but the Mustang has classic American style and is attractive too, and in GT clothes it is all mean machine..
Best,
Donna
You getting a new Mustang or the current body?
How's the Jetta holding up?
You gave up a $2500 extra rebate to take 1.9% for 5 or 6 years?
On a 20k car subtract 2500 and do a peoplefirst loan for 72 months at their rate of 4.75 = $279.81. $20,000 car loan for 72 months at 1.9 comes out to $294 a month! I nearly killed a friend who called me saying she was about to buy a $15400 elantra and take 60 months at 0% instead of 4% on a $13000 loan with the rebate.
as for me Vocus still love the Jetta, and have another two years on the lease..my neice loves my jetta too, so if I do switch into a ford will proably let her have the jetta at cost. It really is a good car..I just like cars so much that I want one of everything.. lol, so I talk about my next car (whatever that will be) alot..I think in my imagination I have owned the Crossfire, Thunderbird, for image, the PT for going to the beach, and the mustang for driving on the coast..who knows what will be next..but if the NB conv. base edition ends up costing the same as a Mustang conv for me, I think it would be smarter to go with the Ford. IN 2005 they will be introducing a Mustang GT, that almost looks exotic race car..we shall see..
by the way Vocus you should feel proud that you qualified for 1.9 over 72 months, kudos..the only time I have seen someone choose a rebate over subvented rates (0% and 1.9% APR) is when they are paying cash in full for their purchase.. main motivation for people choosing to spend that much cash instead of taking advantage of the low interest rates and investing that money for a better return is hating monthly bills, they don't want to be bothered. Even with automaatic debit they still feel it is not worth it.. to each his own..
Cheers,
Donna
Um, everyone I've directed toward peoplefirst has received loan notification within 20 minutes. Always at the site's rates.
If you can get a 4% loan, then taking a 1.9% loan on a 20k car over $2500 off is downright silly. Do the math...
A 20k car loan at 1.9% for 60 months = $349.68
A 20k car minus 2500 so a $17,500 loan at 4% for 60 months = 322.21
Heck, even a 7% APR on $17,500 comes out cheaper!
As long as your credit is decent take the rebate when it's thousands of dollars and the car is relatively cheap.
Also what is a realistic price on a gls 1.8T w/leather?
Thanks
Dennis
i qualified for the lowest rate advertised at peoplefirst.com.
What dealership were you taking your Jetta to when you had all these problems?
Stohlmans may or may not be any better. I took my GTI there when I bought it, and they were awful. However, since then all the service advisors and service managers have been booted and new people have taken over.
Seems to be a bit better....