When I finally think i convinced my dad to get a cool sporty vehicle, for a change, the dealers just shove it in our face with their horrible prices.



First he liked the Ford Flex. But our dealer wouldnt even budge under $500 / month!
Then he considered an Explorer, but even those are now $800/ month for a lease!

Then he liked the Lincoln MKX, and our dealer wouldnt drop below $590/month for a lease. Meanwhile they had that same Lincoln sitting unsold intheir showroom for over 5 months!!

Then I convinced him to check out the new Challenger srt8. We already knew how high the msrp was, but he was still into it. First of all, the dealer wouldnt even let us test drive it because its limided edition. ALL THOSE "collector buyers" dont want any miles on em so they can sit in their garage for 30 years! YAH RIGHT, not in Long Island New York buddy! He made it seem liken this hapens all the time, meanwhile these guys have the same cars sitting there for months and months unsold.
Then he breaks it to us that the payments range anywhere from $700-$1000 per month, with our offer of $10,000 down! Thanks but no thanks, thats like top o the line BMW money!

Then for laughs we go into the Nissan dealer to check out the new 370z which i like. As
big as my dad is, he actually fit in it and really like it, especially cause the price was like $30,000. We were gettin excited hoping for that salesman to come up with a nice price, after we told him we wana put $10k down, and want it for 5 years. He comes back and says "dont run". The monthly payments came up to be $995 !!!Right away my dad tells him SEE YA!
If u wanted to lease, the monthly payments would be around $1,500 per month!!! Plus there is a $4,000 markup over msrp because its so new.

So now my dad's head is spinning and now doesnt wana get anything! How can these car companies be goin outta business and still dont wana move their cars? Arent they pricing out 98% of Americans!?
Back in the day when my dad made $25k a year and had the worst credit possible, he was still able to afford a caddy.
And before that, a few years outta highschool, he was able to work his *** off, to be able to afford his own corvette. But now adays, he makes better money and has perfect credit, it still would be near impossible! Whats the deal? The normal guy is struggling to pay his little bills. We can afford these astronomical prices anymore! When will these companies get it thru their heads?

For these prices we can get Audis and Benzes! And those companies actualy advertise for alot lower monthly payments and at better 0% rates!

 

Why do you think they needed a bailout, its not the company's fautls, the dealers are just ***** who want theyre part of the money.

 

Don't buy Audis or Benz's - just overpriced trash. Go ahead and try the dealer if you don't believe me. Their prices will be even more outrageous.

I'm thinking you pricing has more to do with you geography then anything else. $600 monthly with $10,000 down with put you in just about anything you want over here. Have you tried other dealerships, maybe in more "rural" areas?

 

Check out my reply to your other thread. I suggested an all wheel drive, 3.6L direct injected, Cadillac CTS, MSRP of just over 40K, and 0% financing. THAT's his new car!

 

wow. you gotta deal better than that. for the nissan, just by my calculations you said it was 30K for the car, with 10K down, thats only 20K your financing for a period of 60 months. thats about 335 a month without financing. assuming your dad has good credit a new car should finance right now around 4.5%, finance rates are down a little now especially for better credit scores. so with financing, you should be somewhere around 385 a month. now if you are saying they are going for 995 a month, i would shut them down and yell at them, make them listen that you know your math and thats bs.

originally, my chevy dealer wanted 5 years and 300 a month for my car. after i pulled out my phone and did some basic calculations, i made the guy feel like a dumbass and he got his manager. i told the manager where i should be based on my credit score and i walked out the dealer with 240 a month for 4 years. never do 5 years on a used car, but your not buying one ayways. they are fighting for business, and they will take anything they can get.....but of course they always start high so they get the best price. so you start wayyy lower than what you actually think the car is worth. just because the pricetag says 30k doesnt mean its worth 30k to you. and now more than ever, dealers will negotiate on new cars.

 

We got a pretty decent deal last night. Got a 2006 Honda Odyssey to haul the kids in. The dealership was going to give us 5500 for our 2006 Saturn Ion (Kelly Blue Book was 6500) and wanted a $680 monthly payment.

After 3 hours (yes that friggin long) they finally gave us 10,000 for the car (pays off the GMAC loan completely) and we got the vehicle for the auction price - which is currently sticker price - $22,000. Friggin Odysseys are going for 2-3 grand over excellent condition on blue book prices - great gas milage, features and well built.

This is now my 11th car I've ever purchased and first car outside of GM. I'm have to admit I love everything about it -backup camera, nav, dvd, side doors automatically open/shut and it came at a decent price.

Anyway, keep an eye out on the dealerships. To get the best deal for the car you want, know the value of said car, figure out the difference of your trade in and the new vehicle. DO NOT GET SOLD ON LOW MONTHLY PAYMENTS!!! Dealerships always try to push the payment schedule of what you can afford - this is what got our economy in trouble in the first place when mortgage loan officers took a page out of the dealer manual - do not be influenced by the payment. Look at what the total cost figure will be in the end. Who really cares if your car payment is $200 if in the end you will be paying $7000 more for the car in interest payments!!!

 

very true and well said 04 intimidator. dealers will often "negotiate" a longer term (instead of 5 years, go 6) to meet what you want to pay as a monthly payment. you cant afford 300 a month for five years and want to be at 275? no problem, lets go 6 years for 275! they get a lot of people like that, just by telling people you can pay it off early with no penalties.
300x60 months = 18,000
275x72 months = 19,800

thats just the principle, what your actually paying for the car. you also are now paying an extra year of interest so expect another grand(could be more or less depending on credit) in interest on top of that, just for that year.

i actually went to the bank about 2 weeks ago and got my finance rate reduced on my car. when i bought the car finance rates were wayyy up on used cars, even through my credit union so i got 6.95 apr, with a 700+ credit score. went into the bank, had my loan restructured and now since apr's are down on used cars, had it lowered to 5.34 percent. kept my payments the same, but it shortened my payments by 2 months! dont be afraid to ask your bank if thats what your loan is from.

 

The loan I just got is at 8.7% and that's with a score North of 720. I'm afraid of what people with average credit around 640 are paying.

Anyhoo, my fiance is going to have it put under her name at the bank she works for where she can get it for 4.5%.

I'll be happy then.