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Hi everyone new to the forum and I bought my first Accord today. Question is I have a 2019 Accord Sport 2.0t and my monthly payments are $585. Is that too much, just wondering what is everyone else paying?
 

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Payments are going to be dependent on how much you put down and your credit rating. Don't fall into the trap of the salesperson asking you how much you want your monthly payment to be.... if you do that they will meet that goal but no telling what interest rate you will get and how long (years) you will be paying. I start my research on how much I want to pay for the vehicle and how much I will put down (if I plan on financing vs buying outright). I know ahead of time what my credit score is and if financing what my interest rate would/should be. One other thing I'll do if I finance is make payments bi-weekly which will pay the vehicle off in less time.
 

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  1. Payments are going to be dependent on how much you put down and your credit rating. Don't fall into the trap of the salesperson asking you how much you want your monthly payment to be.... if you do that they will meet that goal but no telling what interest rate you will get and how long (years) you will be paying. I start my research on how much I want to pay for the vehicle and how much I will put down (if I plan on financing vs buying outright). I know ahead of time what my credit score is and if financing what my interest rate would/should be. One other thing I'll do if I finance is make payments bi-weekly which will pay the vehicle off in less time.
    I thought it was better to make your monthly payment and save that 2nd payment every month and then pay it every 6 ish months towards the principal? Idk
 

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I thought it was better to make your monthly payment and save that 2nd payment every month and then pay it every 6 ish months towards the principal? Idk
With me paying bi-weekly I'm paying off a five year loan in three years. My bi-weekly payments are not the full monthly payment so it's not really a "2nd payment" (but the total paid at the end of the month is more than the monthly payment). By paying 26 times a year it greatly impacts the principal which in turn lowers the interest paid over the term of the loan.
 

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Yeah 100% gotcha! I also am planning to do the same, dont wanty
With me paying bi-weekly I'm paying off a five year loan in three years. My bi-weekly payments are not the full monthly payment so it's not really a "2nd payment" (but the total paid at the end of the month is more than the monthly payment). By paying 26 times a year it greatly impacts the principal which in turn lowers the interest paid over the term of the loan.
Yeah i get you 100%. I also dont want a car note for 6 years nor do i have any interest in paying all that interest either so im definitely going to be paying more a month this time around
 

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  1. I thought it was better to make your monthly payment and save that 2nd payment every month and then pay it every 6 ish months towards the principal? Idk
Interesting approach. I'm used to having higher payments, so I've just been doing extra on the principal monthly(probably max of 500.) I have the loan with Honda Financial, not sure how they would do it if I paid online every couple weeks.
 

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Interesting approach. I'm used to having higher payments, so I've just been doing extra on the principal monthly(probably max of 500.) I have the loan with Honda Financial, not sure how they would do it if I paid online every couple weeks.
Does it give you the option to pay on the principal? Im just in fear that any extra money paid with my monthly will go straight to my interest instead of principal. Thats why i was going to save up whatever extra and pay that directly towards the principal every couple of months.
 

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Does it give you the option to pay on the principal? Im just in fear that any extra money paid with my monthly will go straight to my interest instead of principal. Thats why i was going to save up whatever extra and pay that directly towards the principal every couple of months.
It does give you the option to add principal only. But I also haven't tried to make more than one payment in a month

I had a truck financed with a stupid credit union and the interest charges seemed to vary quite a bit. I didn't understand and they weren't much help with anything lol... Pretty sure they were screwing me
 

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It does give you the option to add principal only. But I also haven't tried to make more than one payment in a month

I had a truck financed with a stupid credit union and the interest charges seemed to vary quite a bit. I didn't understand and they weren't much help with anything lol... Pretty sure they were screwing me
Damm yea i feel you. I traded my 18 si in for my 19 sport 2.0 and all in all, as long as i pay the car off within the next 3 yrs i dont think it was a bad deal
 

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Hi everyone new to the forum and I bought my first Accord today. Question is I have a 2019 Accord Sport 2.0t and my monthly payments are $585. Is that too much, just wondering what is everyone else paying?
That entirely depends on your income/budget. Personally I believe if you HAVE to finance more then 3-4 years than you should probably get a cheaper car. Some people take longer length loans and pay it off early, but just like low payments just in case something goes wrong.
 

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$299 a month!!!! But that's with a leftover 18 Sport 1.5 for $24.5k OTD and $14.5xx for my trade-in and so I financed ~$10k for 36 months @ 1.9%. It's all perspective and context when it comes to monthly payments.
 
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