If you can pay that comfortably, DO IT.
Wait.... insurance isnt free.

Looking at my check book, at the end of the 60months I have payed $16,976.
IDK if thats good..... either way its what I have to pay.

 

and OTD, it was only 16k,
thats pretty good, but i f-ed it up with my loan lol
so OTD, doesnt help in my case... boo owell

 

yeah, the total price, after taxes, title, gap insurance, extended warranty, yadda yadda lol. *head assplodes*

 

so it seems strange to me that so many fit owners have theirs entirely paid off. i don't want to start a flame war or anything, but seriously, how many people have $16-17,000 to drop on a brand new car? i sure as hell didn't when i bought mine, and i still don't now.

i don't know ANYONE that has ever paid cash for a car. big down payment, sure. but never a huge lump sum.

unless having a fit is a sign of good fortune or something and will lead me to win the lottery

 

lol yeah, it's strange that someone would have $17k cash just sitting around

 

lol, no comment

I went to pay cash, but they had a 1.9% financing rate offered... being that my mortgage rate will be higher (once it starts up), I financed about 6K and threw the extra 6K into my mortgage. It saves me a couple hundred bucks over 4 years.

 

I owe nada!! cash purchase ftw.

 

drop the dough and ran out the door. i don't owe anything and the "Fit is MINE."

 

paid in full.. LX MT 200 over msrp

 

Yeah, I paid cash, too. Basically, I knew what my quarterly bonus was going to be and looked for a car that would cost less than that. Fortunately, my top choice (the Fit) was one of them.

My assistants laughed when I got the Fit. "Get a Mini, get a BMW, get a Lexus...just not the Fit!" they said. Now they all wish they had my car.

 

IDK if I had $17000 in cash to dump on a car I know I sure as hell wouldn't have gotten a fit. Not that I don't love my fit but shit I could have gotten something quiet a bit nicer with a 17k down payment and the payments would still be affordable.

But I see where some of you guys are coming from you have other payments you need to make so not having another one makes sense

 

Im wondering this also. And the majority of them have STOCK Fits. Hahha
If my car was paid off Id have a lot more ish then I have now.

Id probably be overly modded. :-/ Ewww

One of the top reasons why I got my Fit is because it was cheap. As said above, if I had 17-18k cash for a new car, I wouldnt have got the Fit. I love it though.

 

well i had a show car sitting around and the wife wanted a to start something new a felling love with the fit after couple buddy got one and since price was so cheap and we didnt want a payment sold the show car and paid cash for fit. and yeah mines stock but if i dont have the cash to buy something i save up and pay cash for it. easier, less stressful and smarter.

 

owe 8,075.31

 

Yea, I paid cash for my Fit also. Screw owing someone money on a loan. I effectively drove a beater Altima around for the 1.5 years or so it took me to save up for the Fit. I'll make the interest on the cash that I saved during that time and not them making interest on my monthly payments. I had that money in stocks and CDs as I accumulated it. I did well and had about an 8% return over the year. Not being in a rush to get a car is a useful thing in the long run.

Granted, I probably could have gotten a nicer car and used that 15k as a downpayment. But, this is my daily beater/commuter and the Fit fits (hehe) that bill perfectly. I have the Impreza for the fun.

Thats my own personal reasons though and I'm sure someone else did it their way for a reason.

 

Not to contribute to this straying off-topic, but to "defend" my position a bit...

I paid cash for my Fit because I could, and I saw no reason to have a loan I don't need. I have no need for a luxury car, or a "race" car for that matter. I'm a married guy in my thirties with two kids. The Fit is a great, dependable car for my day-to-day travels to work. It gets great MPG and is still fun to drive. It remains basically stock (*gasp* heaven forbid!) except for tint and slight drop in the future because the money that could go toward a worthless intake or exhaust system goes to my kids' 529 accounts or my retirement fund. You guys with your $2k+ wheels and such don't have those responsibilities, and more power to you...ten years ago, I was one of you. But to look down on those of us who simply didn't wish to buy more car than we truly needed, or don't wish to throw money into a car knowing that it's a poor investment to do so? That's harsh, guys.

I don't want to come across as a prick, but I don't think it's any coincidence that a lot of us who had the money to pay cash for our cars are the same folks who don't see a lot of value in customizing them with expensive parts that don't do much for the car's value, and thus leave them stock.

 

I paid cash for a new '06 Scion xB, and six months later paid cash for my new '07 Fit, which is well modified. I also don't have to work, take orders from a boss, waste gas commuting, go to school, or pay rent. That's what education, a successful career, and savings/investments will do for you. I bought both cars for the interior space, performance of the Fit, and in preparation for $5.00 per gallon gasoline.

 

I've been saving up for a down on a house and when I decided that I didn't want to feed my WRX anymore, I researched for a bit and test drove a Fit and a Civic. If they had a Civic wagon/hatch, I would have gotten that, but I use the Fit to transport bikes enough that I want a hatchback. I was out on a lunchbreak and saw the truck pull into the dealership with 2 silver Fits on it. I went back that night and walked out with the Fit being mine, free and clear. I then sold the WRX and recouped most of the Fit. Other than power, I don't miss anything yet about the WRX.

 

I paid cash for mine... sometimes I wish I financed 1/2 and used the other 1/2 of the $$ for mods!!.... But no pmt is nice!!!

 

i think your scenario in this economy is absolutely what everyone is striving for. but that's exactly it, it's extremely surprising to me that everyone is in the same situation as you are. i know many people that have high paying jobs, college education, savings, etc. and still have to finance their vehicles.

i'm not saying i look down on anyone at ALL for paying off a car in full, in fact i highly respect that you're able to do so.

FWIW (and to keep this on topic ), i drive a stock AT with VERY minor mods (the most expensive being the body side moldings which were for practicality's sake, not appearance). and my payments are $300/month for a 6 year term. i am too young to have much in savings or stocks or anything, and need to build my credit, and also needed a good reliable car for work, so that is my reasoning for buying the fit.

i'm just saying that this car was basically created as a (relatively) cheaper intro to the honda line, and i'm surprised that more people on this board are not in the same situation as i am, where financing is your only option to have a new car.