Stealership playing games? 10% APR.

Leroydsouza · 05-31-2015, 01:01 AM

YES. Get a Z.
But not that one with those interests.

Good Luck OP.
I am subd so i know when you ask that girl out haha

NRTim · 05-31-2015, 10:10 AM

Quote:

Originally Posted by Digital neOn

Edit, there is a girl i really like--i don't want her to know i have a 1997 Camry with a missing hubcap and unpainted bumper, i need a Z damn it!

Lol....

Good luck with the car purchase OP

Airjago · 05-31-2015, 11:06 AM

OP, as many people have said, get a pre-approval at your bank so you can shove the high APR back in their face after you agree on a car value (although they might say it's only this price if you finance through them). Even then, I think you can just get your bank to pay off your loan (though it might affect your credit if you refinance too quickly(???)).

In my case when I bought mine, they gave me two options...
Low APR, but need to pay for a 3rd party warranty, or
High APR (like 5%) w/o warranty.

Pick low APR with warranty...cancel warranty within 60 days (no penalty/cancellation fee). Also pisses them off because then they'll have to pay back the commission they "earned" from selling an extended warranty. Just for reference in case you run into this tactic in the future.

PhantaPhanta · 05-31-2015, 11:31 AM

Stealership man the stories. Got my brand new 2014 Sports Auto for 29.8k @ 1.5%. Man first time looking around I was scared. Don't know why. But after buying the Z, I now feel like I could take a relative back and act cocky and douchey to the *** manager.

There are many dealership tips on here but the couple best ones I believe are simple:
1. Don't buy first visit & BE PREPARED TO WALK OUT. (These mother#*&@#^ act like saints when you first walk in and when you don't buy, they cuss you out ect. Be prepared to walk)

2. Be firm. Talk final numbers, not payments.

I went shopping around locally first. I wanted a base for 29,000. I thought this was fair because on their website it says "Starting at $29,000." Wtf. Apparently not. This premier nissan dealership laughed at me saying that price is ridiculous and where the hell did I even get that idea and pushed me to buy one of their 2013 touring for 34k.

They stuck at 29,500 and wouldn't budge. I have a very big ego and after being laughed at i'm not budging. Whatever, they lost their sale to me. My parents found a $29000 base in Kansas (Parents live away from me). Had to order Black. The day the car came, they done goofed and ordered a sports.

Dealership had two choice. Give car at a loss or pay for shipping and bring it back to the factory or what not. I couldn't tell if this was legit or it was the bait and switch. My mom who is a kind heart person felt bad and decided to give him another $800. Ended up paying 29800 for the car.

Z-Girl 12 · 05-31-2015, 11:37 AM

Employed guys with good credit in beaters is hot to me. Means he is probably more sensible than I am with his money and has more to spend on me and my car parts. If it goes the way you want it to you may be trading the Z in for a mini van in a few years anyway daddy!!!

axmea? · 05-31-2015, 02:21 PM

Quote:

Originally Posted by Z-Girl 12

Employed guys with good credit in beaters is hot to me. Means he is probably more sensible than I am with his money and has more to spend on me and my car parts. If it goes the way you want it to you may be trading the Z in for a mini van in a few years anyway daddy!!!

Can't beat a lady's perspective.

vtec to vvel · 05-31-2015, 08:06 PM

Quote:

Originally Posted by Digital neOn

So today i inquired about a 370z at a stealership in Tacoma, i recently changed jobs but have a good and steady work history. My credit is pretty good and all i have is a small school loan.

I applied online to see if i would qualify and the dealership calls me and says i would qualify but my APR would be around 10% because i am a "first time buyer".

This can't be normal, can it? Anyways the dealership wanted 22 thousand for a 2010 370z with 66,000 miles. I told them i would give them $20,000 and that their car is overpriced, the salesman said that there is nothing within 500 miles that is cheaper with similar miles/year. That is a lie, After my offer of $20,000 which is still overpriced imo the salesman told me he would talk to his boss but that his boss was in a meeting. Well it's been 8 hours and no call back.

Living in the Northwest sucks, 370z are rare, overpriced and most are automatics.

Edit, there is a girl i really like--i don't want her to know i have a 1997 Camry with a missing hubcap and unpainted bumper, i need a Z damn it!

1. when it comes to credit, there's alot more variables to it than just the score by itself (i.e. longevity, history,etc.).
2. you state you have a steady job, which is good, but the fact that you recently changed doesn't exactly help you, as banks wants to see that you've been at a job for a certain period of time.
3. you state that you are a first time buyer? how old are you? and typically, first time buyers don't get favorable interest rates, and you will most likely need a decent down payment.
4. 22k for a 2010 Z. elaborate on model/trim (i.e. base or sports package, mt or at, etc.), as 66k for a 2010 is under miles if going by the industry standard of 15k/year. if they wanted 22k for a nismo model, i would say that is reasonable.
5. dealerships LIE. they are there to make money, not to help you save money.
6. if you need a car to impress a girl, rather than you getting the girl on your own, then there's something wrong with you, and the girl.

vtec to vvel · 05-31-2015, 08:09 PM

Quote:

Originally Posted by Z-Girl 12

If it goes the way you want it to you may be trading the Z in for a mini van in a few years anyway daddy!!!

f*ck that

ssmoked · 05-31-2015, 08:17 PM

Quote:

Originally Posted by Digital neOn

I am not a fool to agree to 10% APR. I gave them a reasonable offer and only then did they tell me what APR i was looking at. I have never heard of such high rates, so i knew something was not right, i even told the salesman that there is no way i would buy the car with that kind of interest.

Gentlemen, i would never go for a gold digger. The women is someone i have yet to ask out but we seem to 'hit it off' every time i bump into her. The thing is i wanted a Z for a while, now that i am contemplating asking this girl out there is more motivation in getting a Z. Obviously i'm not looking for a gold digger but lets be honest a guy driving a beater will not be very impressive, it will give the girl an impression that i am poor and or i do not care about life.

Truth be told everytime i get in and out of my car i hold my head down so no one can see my face

Just curious, what's your age?

Birdfan67 · 05-31-2015, 08:38 PM

If you are a first time buyer and have never financed a car before...and have limited trade lines...you can be in line for a higher rate as you are a risk to the lender. There are first time buyer programs thru manufactures lenders such as Ford Motor Credit , Volkswagen Credit , Nissan Motor Acceptance , Honda Finance ...ect ect. normally you have to buy a new car...recently got a degree and have a job lined up in the field you studied...you can have NO derogatory credit and have a small downpayment...of 5-8%.

If 10% is the very best you can get, even trying on your own..bite the bullet for 8-10 months and refinance after you have established a history....or get a co-signer with excellent credit.

a big DP can also drive the rate down if you finance below trade value....which puts the bank in an equity position.

Remember...they own the car...you just get to drive it and send money every month.

If you got to drop 22K+ to get a woman...KY Jelly is cheaper..lol

MagmaRed370z · 05-31-2015, 08:50 PM

Anything over 3.5% is ridiculous these days. Talk to them or walk away.

Birdfan67 · 05-31-2015, 08:53 PM

oh...dont be embarrassed on what you drive...it sounds like your of the younger generation.
I've seen very attractive women walking with a significant other many times...he has no car apparently and somehow pulled off getting her attention.

I don't need to know how much you make an hour...but if your whole check is going toward car payments and insurance...and your always stuck at home and can't go out because you have no $$$...you won't keep this girl long anyway.
Buy a Nissan Sentra...if she likes you, she'll get in !

Birdfan67 · 05-31-2015, 08:58 PM

Quote:

Originally Posted by schellingr

Anything over 3.5% is ridiculous these days. Talk to them or walk away.

Sorry but not true...rates are climbing again. most banks are beacon driven as well.

To get the best of best rates...740 and higher.
690 and below can yield a 4-5% and higher
650 and below ...you better start praying

mag_black · 05-31-2015, 09:02 PM

Like others have mentioned, you should get a pre-approved loan from credit union so you can go into negotiations w/ some ammo. Dealerships tack on their percentage as well to your interest.

Be patient; there are thousands dealerships and Z's that are willing to gain your business. You will find one for the right price. Don't sound too desperate when you go to negotiations, be ready to say "no" and put the ball back in their court. If they mention that you can't purchase a Z for this price anywhere near your location -- tell them you're not against purchasing out of state. Typically, when you make your 1st offer, they will respond w/, "we can't go that low". Don't budge from your 1st offer, get them to come down, this will give you an advantage. Be ready to say "no" and walk away.

edit: also, 10% and 22K is too much.

mishuko · 06-01-2015, 07:52 AM

you will pay a higher interest rate on a used car than a new car.

For example my dad got a new is350 and is paying in his 4 year finance the same amount i'm paying in 1 (YES ONE) year of interest. and his car was more expensive MSRP.

That said, 10% is way too much. I'd try to artificially boost your credit score. IE: if you pay 500 bucks a month on your CC / loans, do it twice a month 250/pop. It will inflate it a bit but not much. Maybe enough to make the difference.

Worst of all though, don't over extend yourself. And if you plan on overextending for your car I would seriously look at cutting back on other aspects of your lifestyle to not go into an endless spiral of debt.

05-31-2015, 01:01 AM	#16 (permalink)
Leroydsouza Enthusiast Member Join Date: Mar 2013 Location: Dubai Posts: 265 Drives: Nissan 370z 2014 Rep Power: 12	YES. Get a Z. But not that one with those interests. Good Luck OP. I am subd so i know when you ask that girl out haha AggieDev likes this. __________________ 370z 2014 7AT \|Carbon Signal - GT Edition\|

05-31-2015, 11:37 AM	#20 (permalink)
Z-Girl 12 A True Z Fanatic Join Date: Apr 2012 Location: Florida Posts: 4,105 Drives: Spirited Rep Power: 11716	Employed guys with good credit in beaters is hot to me. Means he is probably more sensible than I am with his money and has more to spend on me and my car parts. If it goes the way you want it to you may be trading the Z in for a mini van in a few years anyway daddy!!! MyZ4U2C, axmea?, mag_black and 4 others like this. __________________ 2012 Z-SOLD 2014 Nismo #565 Fast Intentions CBE/HFC/Swift/SPC/RJM/H&R-15/20mm/Z1 CAI/Headers/Intake Manifold w/Uprev Tune 328.31whp/263.64tq

05-31-2015, 09:02 PM	#29 (permalink)
mag_black A True Z Fanatic Join Date: Mar 2013 Location: Massachusetts Posts: 1,400 Drives: 09 370Z MT6 Rep Power: 666	Like others have mentioned, you should get a pre-approved loan from credit union so you can go into negotiations w/ some ammo. Dealerships tack on their percentage as well to your interest. Be patient; there are thousands dealerships and Z's that are willing to gain your business. You will find one for the right price. Don't sound too desperate when you go to negotiations, be ready to say "no" and put the ball back in their court. If they mention that you can't purchase a Z for this price anywhere near your location -- tell them you're not against purchasing out of state. Typically, when you make your 1st offer, they will respond w/, "we can't go that low". Don't budge from your 1st offer, get them to come down, this will give you an advantage. Be ready to say "no" and walk away. edit: also, 10% and 22K is too much. __________________ fujimura ≠ abbeyRoadCompany ≠ fastIntentions ≠ motordyne ≠ avantGarde ≠ ecutek ≠ nismo ≠ stillen ≠ stoptech ≠ gtm ≠ spl ≠ carbonfiberelement ≠ stance™

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05-31-2015, 11:06 AM	#18 (permalink)
Airjago Base Member Join Date: Jun 2014 Location: MA Posts: 29 Drives: 2014 370z Rep Power: 10	OP, as many people have said, get a pre-approval at your bank so you can shove the high APR back in their face after you agree on a car value (although they might say it's only this price if you finance through them). Even then, I think you can just get your bank to pay off your loan (though it might affect your credit if you refinance too quickly(???)). In my case when I bought mine, they gave me two options... Low APR, but need to pay for a 3rd party warranty, or High APR (like 5%) w/o warranty. Pick low APR with warranty...cancel warranty within 60 days (no penalty/cancellation fee). Also pisses them off because then they'll have to pay back the commission they "earned" from selling an extended warranty. Just for reference in case you run into this tactic in the future.

05-31-2015, 11:31 AM	#19 (permalink)
PhantaPhanta Base Member Join Date: Jul 2014 Location: California Posts: 97 Drives: '14 370Z Black AT Rep Power: 10	Stealership man the stories. Got my brand new 2014 Sports Auto for 29.8k @ 1.5%. Man first time looking around I was scared. Don't know why. But after buying the Z, I now feel like I could take a relative back and act cocky and douchey to the * manager. There are many dealership tips on here but the couple best ones I believe are simple: 1. Don't buy first visit & BE PREPARED TO WALK OUT.** (These mother#*&@#^ act like saints when you first walk in and when you don't buy, they cuss you out ect. Be prepared to walk) 2. Be firm. Talk final numbers, not payments. I went shopping around locally first. I wanted a base for 29,000. I thought this was fair because on their website it says "Starting at $29,000." Wtf. Apparently not. This premier nissan dealership laughed at me saying that price is ridiculous and where the hell did I even get that idea and pushed me to buy one of their 2013 touring for 34k. They stuck at 29,500 and wouldn't budge. I have a very big ego and after being laughed at i'm not budging. Whatever, they lost their sale to me. My parents found a $29000 base in Kansas (Parents live away from me). Had to order Black. The day the car came, they done goofed and ordered a sports. Dealership had two choice. Give car at a loss or pay for shipping and bring it back to the factory or what not. I couldn't tell if this was legit or it was the bait and switch. My mom who is a kind heart person felt bad and decided to give him another $800. Ended up paying 29800 for the car.

05-31-2015, 08:38 PM	#25 (permalink)
Birdfan67 Base Member Join Date: May 2015 Location: Chesapeake Va. Posts: 89 Drives: 2017 NISSAN NISMO Rep Power: 9	If you are a first time buyer and have never financed a car before...and have limited trade lines...you can be in line for a higher rate as you are a risk to the lender. There are first time buyer programs thru manufactures lenders such as Ford Motor Credit , Volkswagen Credit , Nissan Motor Acceptance , Honda Finance ...ect ect. normally you have to buy a new car...recently got a degree and have a job lined up in the field you studied...you can have NO derogatory credit and have a small downpayment...of 5-8%. If 10% is the very best you can get, even trying on your own..bite the bullet for 8-10 months and refinance after you have established a history....or get a co-signer with excellent credit. a big DP can also drive the rate down if you finance below trade value....which puts the bank in an equity position. Remember...they own the car...you just get to drive it and send money every month. If you got to drop 22K+ to get a woman...KY Jelly is cheaper..lol

05-31-2015, 08:50 PM	#26 (permalink)
MagmaRed370z A True Z Fanatic Join Date: Jun 2014 Location: USA Posts: 1,468 Drives: 14' 370z Sport Magma Rep Power: 12	Anything over 3.5% is ridiculous these days. Talk to them or walk away.

05-31-2015, 08:53 PM	#27 (permalink)
Birdfan67 Base Member Join Date: May 2015 Location: Chesapeake Va. Posts: 89 Drives: 2017 NISSAN NISMO Rep Power: 9	oh...dont be embarrassed on what you drive...it sounds like your of the younger generation. I've seen very attractive women walking with a significant other many times...he has no car apparently and somehow pulled off getting her attention. I don't need to know how much you make an hour...but if your whole check is going toward car payments and insurance...and your always stuck at home and can't go out because you have no $$$...you won't keep this girl long anyway. Buy a Nissan Sentra...if she likes you, she'll get in !

06-01-2015, 07:52 AM	#30 (permalink)
mishuko A True Z Fanatic Join Date: Jul 2014 Location: bouncin on tigga Posts: 8,062 Drives: '12 Z Rep Power: 9434	you will pay a higher interest rate on a used car than a new car. For example my dad got a new is350 and is paying in his 4 year finance the same amount i'm paying in 1 (YES ONE) year of interest. and his car was more expensive MSRP. That said, 10% is way too much. I'd try to artificially boost your credit score. IE: if you pay 500 bucks a month on your CC / loans, do it twice a month 250/pop. It will inflate it a bit but not much. Maybe enough to make the difference. Worst of all though, don't over extend yourself. And if you plan on overextending for your car I would seriously look at cutting back on other aspects of your lifestyle to not go into an endless spiral of debt.