Quote:
Originally Posted by Ant
I only have 1 payment left on it, it's a lease.
And for those asking if I was approved for the loan or if I am just assuming, the answer is yes, I was approved by PenFed.
This is pretty much my dream car, so I do plan on keeping it for as long as possible. I had to get rid of my 2010 Aqua Blue 2LT/RS right after I got it because I was going to school and have been dreaming of getting another medium blue Camaro ever since.
I still live at home, but I am single so I don't see marriage/kids anywhere in the near future lol. I am employed full time and actually just picked up a second job to make a little extra cash on the side.
Also, I believe PenFed offers gap insurance with the loan.
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So you are just out of college, already employed full time, and have a second part time job but
only have 3500 to put down on the car? What the hell are your other expenses that you are employed full time, have a part time job, living at home (assuming rent free) that you only have 3500 to put down?
Now back to the original question, yes it is a terrible idea. IMO anything over 60 months is a bad idea. 60 is the most I would do, and I don't even know how I feel about having a car payment for 5 years, let alone 7. You are going to owe much more on that car than what its worth you would have to know for sure that you would be keeping for a long long time to make it worth it.