[Ryan_65Stallion]

A 03 Mach 1!!!
I'm looking into how much my interest rates would be on a loan will be. And I'm going to call USAA since I'll be in the military to see how my insurance would be.
So, if I do get it. I might end up for sure selling my '65.
What you guys think?
And what's your experience with first loans and such?

[SLOFOX]

I've got my mustang loan and insurance through USAA, pretty good deals. Insurance is fuckin killer through them, I pay $85 a month for full coverage on the stang and liability on my 99 Ranger, and thats w/ $100 deductibles on the stang.

[Ryan_65Stallion]

Originally Posted by SLOFOX

I've got my mustang loan and insurance through USAA, pretty good deals. Insurance is fuckin killer through them, I pay $85 a month for full coverage on the stang and liability on my 99 Ranger, and thats w/ $100 deductibles on the stang.

Sweet. I might get a loan through chase, but I'll compare rates and see.
I'll get a discount too from USAA on insurance since I'm active military.
I know I'll need a cosigner though

[thatdavidkid]

insurance at your age is gonna kick your ass... count on it being as much as your payment... i was paying almost 300 on my 05 subaru... however, my record wasn't spotless or anything...if you can afford it though... do it, but just remember, paying as much as possible is probably the best thing you can do, because a little extra goes a LONG way ...

[Bigdrumma22]

I got my first and only auto loan through capital one and I only pay $275/month. And under my parents insurance plan, I only pay about $150 for full coverage on the car and liability on my old chevy truck. If I had to do it over again, I definitely would've gotten a Mach!

[Stang6uy]

shit when I first came in the military I was driving my 98gt supercharged that I borrowed the money from kesler fcu....and only paid 100$ a month full coverage through usaa.....

[Ryan_65Stallion]

I just got a quote from USAA, even though I'm not active yet, my mom used to work for them so I was eligible for a quote.
This is without a military discount.
$1914.30 for 6 months for full coverage on the Mach 1

[machgsxr]

I was on my parents insurance for the first 4 years for about 140 a month. When I moved out, I thought shit, my ins. is gonna go up since im under 25, not married legally yet and have the not so perfect record. I have several tickets, but managed to get them cleared off through the courts.

I ended up paying about 50-60 less for full coverage a month than under my parents plan.

Expect a higher loan apr since the car is older now.

Good luck....

[Agent Jones]

Originally Posted by Ryan_65Stallion

I just got a quote from USAA, even though I'm not active yet, my mom used to work for them so I was eligible for a quote.
This is without a military discount.
$1914.30 for 6 months for full coverage on the Mach 1

wow thats high.....i have USAA without the military discount and dont pay anything near that. Did you have them give you the good student discount?

[machgsxr]

Call a few different agents...

Notice agents and not insurance company's. My dad's State Farm ins. wouldn't even insure me on my car, but my state farm agent that insured me on my car gave me a great rate.

[Agent Jones]

with a car that old current rates on a 54 month loan your rates will be

Current Credit Rating
Excellent 6.1%
Good 6.50%
Average 7.60%
Fair 10.95%

just to give you a point of reference compared to a new car im paying less than 4% interest on a one year old car. If you give me the price of the car i can tell you the amount of interest you will pay over the life of the loan. also on average Excellent will be a 730 or higher, Good will be 700 or higher, average will be 650 or higher, and fair will be 575 or higher. The debit to income ratio, along with credit history, and previous jobs will be brought into play also.

[Ryan_65Stallion]

Originally Posted by machgsxr

I was on my parents insurance for the first 4 years for about 140 a month. When I moved out, I thought shit, my ins. is gonna go up since im under 25, not married legally yet and have the not so perfect record. I have several tickets, but managed to get them cleared off through the courts.

I ended up paying about 50-60 less for full coverage a month than under my parents plan.

Expect a higher loan apr since the car is older now.

Good luck....

Well, if I can't find a good quote, I'll see if I can just stay on my parents insurance.

Originally Posted by Agent Jones

wow thats high.....i have USAA without the military discount and dont pay anything near that. Did you have them give you the good student discount?

yeah. I only have one accident too.
no, I didn't have them give me good student discount, I'm not in college right now, lol.

Originally Posted by machgsxr

Call a few different agents...

Notice agents and not insurance company's. My dad's State Farm ins. wouldn't even insure me on my car, but my state farm agent that insured me on my car gave me a great rate.

I'm going to talk to my mom's state farm agent and she what she can get me.

Originally Posted by Agent Jones

with a car that old current rates on a 54 month loan your rates will be

Current Credit Rating
Excellent 6.1%
Good 6.50%
Average 7.60%
Fair 10.95%

just to give you a point of reference compared to a new car im paying less than 4% interest on a one year old car. If you give me the price of the car i can tell you the amount of interest you will pay over the life of the loan. also on average Excellent will be a 730 or higher, Good will be 700 or higher, average will be 650 or higher, and fair will be 575 or higher. The debit to income ratio, along with credit history, and previous jobs will be brought into play also.

Well, tet's selling his mach for 18k, I'm going to ask if he'll take 16k. but if I got a loan for 18k what can i expect?

[Agent Jones]

Originally Posted by Ryan_65Stallion

yeah. I only have one accident too.
no, I didn't have them give me good student discount, I'm not in college right now, lol.

the good student discount is good even if your just in HS, or just recently grad. if you show them you averaged a B in your last year of HS they give you a discount

[Agent Jones]

it really depends on your credit score and interest rate, ill give you high and low...

High - Interest rate is 10.95 on 18k your payments would be 423 over 54 months
Low - Rate is 6.1 on 18k payments would be 382 over 54 months

[Ryan_65Stallion]

oh, well, I had b's and a's so I should be able to get it.

[Ryan_65Stallion]

So you guys think it'd be worth getting a mach 1 and pay about 700 for insurance and car lien?

Through my current insurance I have under my mom, I would be paying $1714 for 6 months. Which is about $305ish/month. And if I can get a loan around 380 like Ray said. with my mom being a co-signer, thats about $700. I think its fesiable.

Your thoughts?

[Agent Jones]

i wouldnt do it with those high of rates right now.....i mean i pay less than 420 and i have a newer car...those rates are kinda high right now

[Ryan_65Stallion]

Tetsu's Mach 1
Thats the one I'm looking at right now. He might budge down on price due to he wants something else and no one has given offers...

[Agent Jones]

whats the kbb and nada prices....with the way the cars are losing values i would pay over private party value

[Ryan_65Stallion]

Originally Posted by Agent Jones

whats the kbb and nada prices....with the way the cars are losing values i would pay over private party value

I did check the KBB listed, and for one in excellent condition, $14,500.
When he replies to my pm I'll talk to him some more. I'd really love to get ahold of it.