help!!

[Anonymous]

 howdy folks,

                 I need your sage advice. A year ago i ordered an audi R8($130,000) car. Im' worried with todays credit market i wont get financing. A major porblem is I own my own business with three jeeps on my credit that are active accounts and my personal vehicle a 08" M3. Perfect payments on all acounts with several paid off cars(12 or so). one 30 day late 4 years ago. My fico's are around 680ish, they would be higher but new accounts are hurting my score.

I plan on $14,000 down payment.. I had a paid off audi already.

Thoughts? thank you.

[Anonymous]

Geez, that is 3 times of what I am paying for my new Mercedes. My 2010 GLK will be in the end of this month and it was $38,200.

If I was spending over $100,000 it would better have a fireplace, a kitchen sink and 2 bathrooms

Message Edited by Mark-MD on 12-19-2008 07:58 AM

[Anonymous]

And a maid to clean those 2 bathrooms!

[Anonymous]

haha, it's funny. I do have the above. but im not loeaded or anything. Man i love that silly car. the us gets only 300 a year.

I was in their today and they would hose me  on my 08 m3. It's not even close.

If I don't get I'll blow it up so no else does.

[Anonymous]

Really, just think about your montly payment.  Wouldnt it be best to put that monthly amount away in a savings account for your retirement and drive a car that costs lets say hmmm , under $50,000

Do you read the newspaper at all? watch the news on TV?

Even if your business is doing well today it can be hit by the economic downturn in the future.

My job is recession proof yet I am watching every dollar that I spend.  It is not pretty out there right now.

[Anonymous]

Not to be rude, but no you are NOT loaded.....if all you can "afford" to put down on a $130K car is fourteen thousand dollars.....

again.......not to be rude, but when all hell hits the fan and you owe 4 car loans (at say $20K each) and then the Sh** load owing $116K..................you will lose it all.

Say bye bye to the car and have a merry holiday and a happy new year in knowing that by saving that $14K this could hold you over for 1 month in reserves...(maybe) considering you are spening money like this....

[Anonymous]

Didn't say I was loaded but I was saving as much cash as possible. My business jeeps are seperate from my personal income.

$12-20K is what is was hoping to put down. But your right that with the economy as it is I'm not too eager. They offered so little on my M3 i"m looking to back out now.

I love the car but in the end it's just a car. It's hard at times but never love something that doesn't love you back.

[Anonymous]

DONT BUY THE CAR  with $14,000 that will just cover the sales tax and registration fees.

The car will depreciate $30,000 as soon as you drive it off the lot.

You will be upside down on the loan until the very end.

It is only a car.  Never get in over your head for a car.

Just buy what you can afford and what turns you on. 

There are plenty of great cars out there for a quarter the price of this car.

Remember if you default on a car loan, they will sell the car for pennies on the dollar and then come after you for the balance.

Tell the dealer to put the car where the sun doesnt shine