Whats better?

[Carloscda40]

To put more down at signing or to pay more on the principle over time?

Next month i'll be searching for an 03 Accord, 17k. Would it benifit me to put $3.500 down or put $1.500 down

and put like 3k towards the principle?

Thanks in advanced!

[Anonymous]

---

@Carloscda40 wrote:

To put more down at signing or to pay more on the principle over time?

Next month i'll be searching for an 03 Accord, 17k. Would it benifit me to put $3.500 down or put $1.500 down

and put like 3k towards the principle?

Thanks in advanced!

---

IMO 17K for an 03 Accord is too much money to begin with. Being 8 years old already it is a very poor investment and good chances it isn''t worth more then 10K and possibly much less. I would look into a much newer car or maybe even a new car in my price range.

[ibmrad7]

I agree with JM-AM..... 17K for an 03 Accord.. Man, no matter even if its Fully Loaded I would still not go for it and if it has really low miles on it even than something could be fishy for an 8 year old car. I am selling my Accord 06 with 53K miles and it still had Genuine Honda Warranty left for 7k miles for on 11500 which I am ready to negotiate. If you are ready to put down 17K I would suggest got a new one or certified pre-owned.

[Carloscda40]

Thanks for the info, need to pass that info to the Dealers here in Philia! From what I've seen they're trying to sell 07 & 08 V6's between 17-21k!

And what about putting more down at signing vs more towards the principle the first yr? 

[MarineVietVet]

---

@Carloscda40 wrote:

Thanks for the info, need to pass that info to the Dealers here in Philia! From what I've seen they're trying to sell 07 & 08 V6's between 17-21k!

And what about putting more down at signing vs more towards the principle the first yr? 

---

Just my opinion but I think it's always better to put as much down as possible. By doing that you might get a better rate, you will have lower monthly payments, and you might be able to lower your payoff terms (for example) from say 60 months to 48.

But I'm probably one of those people who put a smile on car dealers faces when they see me drive up. 

So take my suggestion with the proverbial grain of salt!

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

How much you put down all depends on the rate you get. Some will say it is better to put more down as you pay less in interest while others say put less down and invest the difference to make up for the interest. With-out knowing a rate it really is hard to get others opinions on how you should spend your own money. 

IMO I would personally go shop a new car for several reasons.

1. Purchasing a new car usually has better interest rates overall compared to used cars.

2. Warranty's are included with a new car purchase where as you usually have to pay additional for warranty coverage on a used car.

3. While I would still be upside down in a new car once I drive it off the lot it would be minimal compared to a used car.

4. By time I finish paying for a used car at 17K with a modest interest rate I would have paid enough to buy a new car in the 20K range that I know was maintained properly. 

These are just a few examples as to my reasons why I would choose a new vehicle over the used vehicle you are thinking of purchasing. There are many good choices for new cars in your price range. The choice is ultimately yours to make on what you decide to purchase.

[MarineVietVet]

---

@Anonymous wrote:

How much you put down all depends on the rate you get. Some will say it is better to put more down as you pay less in interest while others say put less down and invest the difference to make up for the interest. With-out knowing a rate it really is hard to get others opinions on how you should spend your own money. 

IMO I would personally go shop a new car for several reasons.

1. Purchasing a new car usually has better interest rates overall compared to used cars.

2. Warranty's are included with a new car purchase where as you usually have to pay additional for warranty coverage on a used car.

3. While I would still be upside down in a new car once I drive it off the lot it would be minimal compared to a used car.

4. By time I finish paying for a used car at 17K with a modest interest rate I would have paid enough to buy a new car in the 20K range that I know was maintained properly. 

These are just a few examples as to my reasons why I would choose a new vehicle over the used vehicle you are thinking of purchasing. There are many good choices for new cars in your price range. The choice is ultimately yours to make on what you decide to purchase.

---

But sometimes the rate will depend on how much you can put down. LOL

It can become a Catch-22 situation.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

---

@MarineVietVet wrote:

---

@Anonymous wrote:

How much you put down all depends on the rate you get. Some will say it is better to put more down as you pay less in interest while others say put less down and invest the difference to make up for the interest. With-out knowing a rate it really is hard to get others opinions on how you should spend your own money. 

IMO I would personally go shop a new car for several reasons.

1. Purchasing a new car usually has better interest rates overall compared to used cars.

2. Warranty's are included with a new car purchase where as you usually have to pay additional for warranty coverage on a used car.

3. While I would still be upside down in a new car once I drive it off the lot it would be minimal compared to a used car.

4. By time I finish paying for a used car at 17K with a modest interest rate I would have paid enough to buy a new car in the 20K range that I know was maintained properly. 

These are just a few examples as to my reasons why I would choose a new vehicle over the used vehicle you are thinking of purchasing. There are many good choices for new cars in your price range. The choice is ultimately yours to make on what you decide to purchase.

---

But sometimes the rate will depend on how much you can put down. LOL

It can become a Catch-22 situation.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

---

So very true.........