PatC79

Just got back from the dealer.

'05 TL with Navi
$35,478 out the door (taxes, title, tags)
$18,000 down
Payments are $350 a month

How does that sound?

I think I want to try to get them down to $330 a month

What do u guys think...opinions are very welcome!

-Pat

PatC79

With 8% APR after 5 yrs the car ends up costing $36,876

Masta120

I am guessing you are paying 8.5% for tax.......so your car was around $32600....
Not bad at all.

But the 8% sounds kind of high. Did that 8% APR come from the dealer? With 8%, you are going to pay $3785.40 in interest across the 5 years.

I got a quote from Capital One for 4.9% for 4 years (includes a discount for being a Costco member). I am actually going to go with a 4.2% for 3 years. Probably will put down $15K or so.

Doubtit

Dealing with too maney unkowns to say. What is the cost without taxes, title, and tags, as this has to be your starting point? Also what is the APR? How long is the loan? Payment per month is not the key other than for your budget.

PatC79

Yes the 8% APR was from the dealer...and it is a little high
Starting price was $34000...which seems a little high...others have gotten $33K as a starting price. I'd be financing for 60 months

chill_dog

Great price, bad rate...call a credit union...put $5 into an account and get a loan there...or check BANKRATE.

Loco

I just got a price of $31,999 (before T&T) for a fully loaded '05 TL M6 this mirning

rbf351

thats kinda high for both

i paid 32,500 my a 05 TL with Navi
i got 4% APR
and pu about 18,000 down

AdamNJ

Pat,

What is your location? Price varys by location.

FYI w/ capital one:
Loan Rates 30-36 mos/37-60 mos/61-72 mos
Dealer Purchase: New 4.55%/5.25%/5.85%

Masta120

Loco, you are in the NJ area? Which dealer did you use?

caball88

whoa 8% interest is kinda high. the price on the car is great but i think the dealer is trying to rape you in the financing to make the deal look better. go get your own financing from the bank instead. even if you get 5% it will save you alot of money.

PatC79

Just got a call from the dealer.

I told him the most I would pay is $300 a month and they actually said okay.

Should I jump on it?

-Pat

caball88

for how many months? it might still be 8% or close to that for about 72 months. have them put everything in writing so you can compare the numbers and see how much you are actually forking over. don't play the monthly figure game with them as they are going to try and screw you in financing. negotiate a price for the car and not a monthly price. i would not tell them if i was financing or not until i am ready to buy the car. dealers play alot of games and fudge with monthly figures to try and get you into a car but in reality the total amount of money they will squeeze out of you is the same or more than the starting negotiating price.

ndx2

imo, buying a car by negotiating the montly payment amount is a bad idea. the best way to settle on a final price... wear 'em out if you have to. there's so many things the dealer can play with in order to meet your monthly payment amount. for example, a typical question dealers often ask is: "well, how much are you trying to pay a month?" after all, the dealer's not going to give you a huge discount just because you want to pay less a month. in their eyes, they're providing you with their service to meet your monthly budget, thus they get to charge more.

-settle on a price. 32.5k is a good price for a TL w/ navi. get them to throw in some free goodies - be firm about it. i.e "i'll pay 32k" dealer: "sorry, the lowest i can do is 32.5k" you: "fine, 32.5k, but with all season floor mats and spoiler" or whatever. it's a good time of the year to negotiate.

-settle on APR/loan term 4-5% for 5 years with decent credit.

-settle on extra costs/fees (dealer extortion fees?) i.e. NONE. or close to none.

-make a deposit

-examine "YOUR" car thoroughly, take it for a quick spin

-finish up paperwork and be on your merry way.

Masta120

I just put down a $500 deposit for a Black with Quartz leather TL (Automatic w/ Navi).

The car price was $32,751 (including destination), plus $1300 for an extended warranty and $699 for a 2 way pager remote start alarm. Total is $34,750 without tax or title.

The whole thing depends on them locating a Black with quarts auto with navi.......anyone think the dealer will find one this late in the season?

vp911

I completely agree with what ndx2 said. I had paid $32,800 with the pro pack back in November with 4.1% apr for 60 months.

Phillyboi

if your really not in a rush, check other rates from credit unions. Alliant has rates at 3.9% for up to 72 months! for new cars. Dealers have ways of dealing down interest rates. Trust me I know...my dealer lowered my interest rate twice. Just yesterday I signed my third contract after voiding my second one and I had the car for 4 weeks already.

I didn't really get an awsome price... NBP with Ebony with Navi in a Chicago Market.

adrianp

Pentagon Federal Credit Union is offering 4.25 on 60 months.

www.penfed.org

Steel

After taxes my car came to 35400, anthracite Navi auto prior to a spec'ing the car.

I wouldnt take anything above 3% on a new car rate so I guess it's good I paid cash.

Loco

Sussman in Maple Shade NJ

meathead

pat, you need help with this deal. contact a friend that knows how to deal with car people immediately.