Car finance help!?

[phatkid77]

Ok. I'm in Canada.

Ok.. Frm CANADA.... Need experience I'm going t get 2015 EXL. List is 33500 or so plus freight. Tax. Ect. Unhaggle.com said the invoice is 31500 or so. .. What SHOULD I pay OTD?? What did fellow Canucks pay? I hate negotiations. I play hockey with the GM and he said will give me good deal. Thanks a lot!


aj84
Nov 16 - #52

MrJones said:
Original post
I used the Costco Auto Program to buy a 2015 AWD Touring for $31,581. The price is the invoice price (including delivery). That is $2K off the 2015's when they are just showing up at the dealerships and not being discounted much. I had to order mine to get the copper sunset. I am happy with the price especially since it had to be built.
Ordered the same car for $32500 but added remote starter, cargo tray, mats, hood air deflector, wheel locks and mudguards...not confident I got the best deal


Phatkid
online

now - #53

I need help. I'm an idiot. Awaiting my friends breakdown Originally msrp $33500 and my trade 14000. (Owe 8500 still) plus current incentives deducted equals $420/84mnth Today texts bumped trade $14500 an payment is 405/84 My numbers (which I like! Lol) varies from 360-385. For instance. Tax save on trade in is like $2017. So judging by attached chart and using $6000 down (equity from trade) something doesn't add up. I think $400 over aledged invoice has me at 405. But that's $4000+ tax. My trade should negate over 2000 in savings. ? CAN ANYONE HELP ME?
**broken link removed**


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[ronnieron]

just wondering... why would you finance a car for 84 months? that rate they are showing is the average rate.

 

[biffnbash]

Don't buy anything on finance that is a liability, if you can't pay cash, you can't afford it.
You asked for help- this is the straight talk man

 

[phatkid77]

Don't buy anything on finance that is a liability, if you can't pay cash, you can't afford it.

You asked for help- this is the straight talk man

That's stupid talk lol
Sorry , not sure many here that can pay CASH for new vehicle. Unless well off or own a lab
That's straight talk


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[flexdurden]

I've gone to classes by a guy who does big time negotiations... he wrote a book called "Negotiate to Win" and it includes a chapter on negotiating car prices.

The deal invoice is an arbitrary number. Tell the dealer you want the care for $29,000. They will likely laugh... then you walk out.... they may call you back in few weeks with an offer. If they don't, drive by the lot and see is the vehicle is still there. If it is, give them a call and ask why they haven't sold it yet.

They'll give a BS response...

Put your offer out there again, $29,000. They will likely counter. Ask how much room they have to work with. Then make your biggest jump in price first, after that make very small jumps, but NEVER go over your target price.

The problem is this won't work if you have to order it special....

 

[ronnieron]

like mental said... paying msrp is crazy. I would try working with the internet fleet manager first... online. have your car built for YOU... that way your not paying for a bunch of shit you don't want... like $600 tint, 300 mats, etc.
If you want the mats, tint etc... get them to throw it in on the deal @ cost

 

[cardealer]

How much rebate is on car?My firm sell 51 under invoice and you get the rebate or low finiance rate everyday.

 

[phatkid77]

500 after tax I think


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[cardealer]

I would then offer invoice minus rebate and dealer cash plus taxs.Dealer will still make holdback of about 1300 bucks.Would be a good deal for both.

 

[phatkid77]

Haven't saw actual numbers. Came down abit. Looks like my math might be 4-700 over invoice? Not sure tho


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[phatkid77]

399/84 with 14500 trade


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[richiec]

I wouldn't do a 7 year finance, that's just me tho.
Like MF said, offer them what YOU think is fair value for the vehicle, if they laugh or say no way, get up and leave. When my wife and I bought our last car, the salesman kept pushing my wife on this one car, which was above our talked about monthly price. I told him that we weren't interested as it was too much and I'm not wavering from my decision. He copped an attitude and asked "well how much do you want to pay a month"?! I told him, he looked at me and said, "well we don't have anything on our lot for that price". I stood up and told him, "then why have you wasted my time for the last hour when I told you that from the get-go"?!
Told my wife to get her stuff, we were gone. We were trading a car in, and they still had the key from inspecting it. I asked for the key, he gave me some run around, I told him if he didn't give me the key in 10 seconds they'd cart him off in an ambulance as I was tired of their BS games. Lo and behold, he pulled up a vehicle on the lot that fit into our budget. We bought the car and he says "no hard feelings right"? I told him he's lucky I don't live anywhere near that dealership or I'd make sure he never sold another cart there ever again and how much of a scumbag he was, in front of his sales manager.
Good luck

 

[ECB]

Don't buy anything on finance that is a liability, if you can't pay cash, you can't afford it.
You asked for help- this is the straight talk man

This is absolutely not true. Financing can be advantageous. If you have good credit you can get 0-1.9% interest on a new car. I can EASILY invest that money, and make 10-20x that interest a year.

I wouldn't do a 7 year finance, that's just me tho.
Like MF said, offer them what YOU think is fair value for the vehicle, if they laugh or say no way, get up and leave. When my wife and I bought our last car, the salesman kept pushing my wife on this one car, which was above our talked about monthly price. I told him that we weren't interested as it was too much and I'm not wavering from my decision. He copped an attitude and asked "well how much do you want to pay a month"?! I told him, he looked at me and said, "well we don't have anything on our lot for that price". I stood up and told him, "then why have you wasted my time for the last hour when I told you that from the get-go"?!
Told my wife to get her stuff, we were gone. We were trading a car in, and they still had the key from inspecting it. I asked for the key, he gave me some run around, I told him if he didn't give me the key in 10 seconds they'd cart him off in an ambulance as I was tired of their BS games. Lo and behold, he pulled up a vehicle on the lot that fit into our budget. We bought the car and he says "no hard feelings right"? I told him he's lucky I don't live anywhere near that dealership or I'd make sure he never sold another cart there ever again and how much of a scumbag he was, in front of his sales manager.
Good luck

One thing you can't do is get hung up on monthly payments. That is a sales tactic. Monthly payments are irrelevant. You need to negotiate the price of the car itself, and you should already know going in, if you can afford it or not. Monthly payments are very easy to manipulate by stretching the loan.

As far as how much you should pay for the car, and in relation to invoice, that always depends on the desirability and production of the car in question. Regular production cars, that are easily found sitting on lots, it is easier to negotiate a deal on them.

The main thing with negotiating is your expectation has to be realistic. You can't just offer $3000 for a $30k car, as it isn't going to get you a car. You need to be reasonable. I think invoice minus rebate is a good deal, if the car is readily available.

 

[richiec]

One thing you can't do is get hung up on monthly payments. That is a sales tactic. Monthly payments are irrelevant. You need to negotiate the price of the car itself, and you should already know going in, if you can afford it or not. Monthly payments are very easy to manipulate by stretching the loan.

THIS is asinine. Like most people, my wife and I base what we do on our monthly budget. So, when we say we want to spend $XXX a month on a car, selling us something that will go over that amount ins simply not going to work. Even IF you "stretch the loan", it's all about the amount of money spent in the end. If I want to buy a vehicle for $15k total after putting some money down and I want my monthly payment to be $250-$275, then that's what I'm going to do. I'm not going to buy a $18k vehicle and stretch the loan so I can fit it in the monthly budget. The salesman I dealt with said the same thing as you, "Monthly payments are irrelevant". I laughed in his face just like I laughed when I read your comment. The overall cost matters, but the monthly cost matters just as much. I see idiots all the time buy a car because they can afford the monthly payment, but end up getting raped with interest in the long run

 

[jt7]

THIS is asinine. Like most people, my wife and I base what we do on our monthly budget. So, when we say we want to spend $XXX a month on a car, selling us something that will go over that amount ins simply not going to work. Even IF you "stretch the loan", it's all about the amount of money spent in the end. If I want to buy a vehicle for $15k total after putting some money down and I want my monthly payment to be $250-$275, then that's what I'm going to do. I'm not going to buy a $18k vehicle and stretch the loan so I can fit it in the monthly budget. The salesman I dealt with said the same thing as you, "Monthly payments are irrelevant". I laughed in his face just like I laughed when I read your comment. The overall cost matters, but the monthly cost matters just as much. I see idiots all the time buy a car because they can afford the monthly payment, but end up getting raped with interest in the long run

he's saying that monthly payments are irrelevant because a lower payment with a higher rate stretched out over more time doesn't make it a good deal.

 

[Archer]

401k loan if available...pay the low interest to yourself

 

[ECB]

he's saying that monthly payments are irrelevant because a lower payment with a higher rate stretched out over more time doesn't make it a good deal.

BINGO..... Or show you a cheaper car, that you might still be overpaying for. Monthly payments are a function of loan terms, car price, and down payment.

THIS is asinine. Like most people, my wife and I base what we do on our monthly budget. So, when we say we want to spend $XXX a month on a car, selling us something that will go over that amount ins simply not going to work. Even IF you "stretch the loan", it's all about the amount of money spent in the end. If I want to buy a vehicle for $15k total after putting some money down and I want my monthly payment to be $250-$275, then that's what I'm going to do. I'm not going to buy a $18k vehicle and stretch the loan so I can fit it in the monthly budget. The salesman I dealt with said the same thing as you, "Monthly payments are irrelevant". I laughed in his face just like I laughed when I read your comment. The overall cost matters, but the monthly cost matters just as much. I see idiots all the time buy a car because they can afford the monthly payment, but end up getting raped with interest in the long run

Again....Monthly payments are irrelevant to the deal. You should know what you can afford, per month, and stay within those confines sure, but it is irrelevant when negotiating on a car and you should never use it or mention it. You should already know what overall price of car you can afford, before stepping foot in a dealer. Use a loan calc.

You are negotiating the price of the car, not a monthly payments. Dealers LOVE LOVE when you talk in monthly payments, because it means they are winning. PERIOD.

So when they bring out a different, cheaper car, that now magically fits into your "monthly payment budget" it doesn't mean shit other than you just bought a cheaper car. Doesn't imply you got a good deal for said car.

Obviously I am not telling you to buy a car you can't afford..lol

It is a fact, not really up for debate.

 

[cardealer]

Dealers make big profits on finiancing.See what interest rates are for your credit score.Don't buy any add ons gap,ext warranty,life all are big profit centers for the dealer.Go to 72 mth finiancing or you will be sorry when it's time to trade.Professional advice from GM of to factory franchise stores in US

 

[ronnieron]

have you shopped elsewhere? Buying a car from someone you know can get you a good deal some of the time, but most of the time you will end up losing out.
Also have you priced your trade so you know what it is worth? You could probably sell your trade private party for at least 2k more than what the dealer is offering.

 

[biffnbash]

That's stupid talk lol
Sorry , not sure many here that can pay CASH for new vehicle. Unless well off or own a lab
That's straight talk


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Sorry my man, I mean no offense.

You should be looking at used cars that fit your budget. How much extra will you pay on interest on the new car?
Learn how to manage your money and you will be buying better cars.....just facts man