Longest month of my life....

Polymorphic · 02-17-2012, 08:47 PM

So... I just made a deal for my 370z about an hour ago. I told them I wanted to wait a month so I get a decent sized down payment on it.

Let the longest month of my life begin....

LakeShow · 02-17-2012, 08:55 PM

Oh man by next month they'll jack the price up. If you aren't ready to sign the contracts when you walk into a dealer, don't go. They will tell you anything and make you promises for you to come back. Will they hold your deal and your promises, probably not. Had it happen to me and I even put a deposit.

sonic370 · 02-17-2012, 09:05 PM

great but are they going to hold the car a month for you.
did you put down a deposit........... good luck

Polymorphic · 02-17-2012, 09:23 PM

Yeah my friends dad owns the dealership and they are hooking me up. They told me they'd hold it for 5 weeks for me and I'm getting it otd below invoice. Well, they are making $40 off me on the car. They are transferring the car next week. I told them I'm not paying anything over 30800 for a brand new 2012.

Polymorphic · 02-17-2012, 09:25 PM

So if they raise the price, they will be sitting on it for a couple months for someone else to buy. They assured me it wouldnt be over 30800 besides tax which I said was acceptable. Which is about $900.

MattP725 · 02-17-2012, 09:26 PM

Dude that makes no sense... unless they are going to drop your rate or the car price based upon your DP, just get the car now and put that money towards the principle next month... even if you put another 10k (which I'm sure isn't what you're doing) at one month and say 6%, you are only paying an extra 50 bucks in interest and that is again assuming you are somehow coming up with 10k... go get that thing!

Polymorphic · 02-17-2012, 09:26 PM

Quote:

Originally Posted by sonic370

great but are they going to hold the car a month for you.
did you put down a deposit........... good luck

No, I told them I won't put one down until I'm ready to receive the car.

Polymorphic · 02-17-2012, 09:28 PM

Quote:

Originally Posted by MattP725

Dude that makes no sense... unless they are going to drop your rate or the car price based upon your DP, just get the car now and put that money towards the principle next month... even if you put another 10k (which I'm sure isn't what you're doing) at one month and say 6%, you are only paying an extra 50 bucks in interest and that is again assuming you are somehow coming up with 10k... go get that thing!

If I wait a month for a down payment the total interest/payments will be lower. If I just get it now and put it towards the principle the interest will be based on a higher amount.

MattP725 · 02-17-2012, 09:33 PM

It is all in the terms of the loan... the interest should be reduced if you make an additional principle payment.. some loans penalize you for early payoffs of principle though.

It is still splitting hairs in my opinion... you could just as soon put that large payment in and either have them recalculate the payment over the life or just make the payments based upon what they would be with the bigger DP (meaning you will be ahead of schedule on your payments and will catch up towards the end of the loan).

If it makes you feel better to wait and be more organized, I am all for it but I don't think it will make much of a difference cost wise.

Polymorphic · 02-17-2012, 09:34 PM

Quote:

Originally Posted by MattP725

It is all in the terms of the loan... the interest should be reduced if you make an additional principle payment.. some loans penalize you for early payoffs of principle though.

It is still splitting hairs in my opinion... you could just as soon put that large payment in and either have them recalculate the payment over the life or just make the payments based upon what they would be with the bigger DP (meaning you will be ahead of schedule on your payments and will catch up towards the end of the loan).

If it makes you feel better to wait and be more organized, I am all for it but I don't think it will make much of a difference cost wise.

Yeah, if I make a larger down payment the interest is lower, along with the monthly payment.

Polymorphic · 02-19-2012, 11:12 PM

Quote:

Originally Posted by MattP725

Dude that makes no sense... unless they are going to drop your rate or the car price based upon your DP, just get the car now and put that money towards the principle next month... even if you put another 10k (which I'm sure isn't what you're doing) at one month and say 6%, you are only paying an extra 50 bucks in interest and that is again assuming you are somehow coming up with 10k... go get that thing!

You're right, got the car.

TheGreatOne · 02-19-2012, 11:15 PM

Quote:

Originally Posted by Polymorphic

You're right, got the car.

Haha, nice, congrats!

What colour and options did you go with?

Polymorphic · 02-19-2012, 11:23 PM

I got a GM base. I didn't feel the need to spend the extra on t/s at this point in my life, got illuminated sides and mats with it. I'd like to make it my avatar but can't seem to figure out how to do it. haha

and thanks! I'm loving it.

Polymorphic · 02-19-2012, 11:26 PM

Just figured the avatar out.

alcheng · 02-20-2012, 12:45 AM

Quote:

Originally Posted by Polymorphic

I got a GM base. I didn't feel the need to spend the extra on t/s at this point in my life, got illuminated sides and mats with it. I'd like to make it my avatar but can't seem to figure out how to do it. haha

and thanks! I'm loving it.

Congrats on your new ride and Welcome to the forum.

02-17-2012, 08:47 PM	#1 (permalink)
Polymorphic Base Member Join Date: Feb 2012 Location: Albuquerque Posts: 51 Drives: 370z GM 6MT Rep Power: 13	Longest month of my life.... So... I just made a deal for my 370z about an hour ago. I told them I wanted to wait a month so I get a decent sized down payment on it. Let the longest month of my life begin....

02-17-2012, 08:55 PM	#2 (permalink)
LakeShow A True Z Fanatic Join Date: Dec 2010 Location: L.I., NY Posts: 5,307 Drives: Everything Rep Power: 25	Oh man by next month they'll jack the price up. If you aren't ready to sign the contracts when you walk into a dealer, don't go. They will tell you anything and make you promises for you to come back. Will they hold your deal and your promises, probably not. Had it happen to me and I even put a deposit. __________________ \|2013 Audi S4\|Ibis White/Black\|S-Tronic P+\| \|2013 370z\|PearlWhite/Persimmon\|Touring/Sport/Nav\|F.I. CBE 18" CF\| \|Sold\|2011 370z\|Gun Metallic\|Touring/Sport/Nav\|

02-19-2012, 11:23 PM	#13 (permalink)
Polymorphic Base Member Join Date: Feb 2012 Location: Albuquerque Posts: 51 Drives: 370z GM 6MT Rep Power: 13	I got a GM base. I didn't feel the need to spend the extra on t/s at this point in my life, got illuminated sides and mats with it. I'd like to make it my avatar but can't seem to figure out how to do it. haha and thanks! I'm loving it. Last edited by Polymorphic; 02-19-2012 at 11:27 PM.

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02-17-2012, 09:05 PM	#3 (permalink)
sonic370 A True Z Fanatic Join Date: May 2010 Location: Orange Texas Posts: 1,574 Drives: 09 370Z Sports PGK Rep Power: 17	great but are they going to hold the car a month for you. did you put down a deposit........... good luck

02-17-2012, 09:23 PM	#4 (permalink)
Polymorphic Base Member Join Date: Feb 2012 Location: Albuquerque Posts: 51 Drives: 370z GM 6MT Rep Power: 13	Yeah my friends dad owns the dealership and they are hooking me up. They told me they'd hold it for 5 weeks for me and I'm getting it otd below invoice. Well, they are making $40 off me on the car. They are transferring the car next week. I told them I'm not paying anything over 30800 for a brand new 2012.

02-17-2012, 09:25 PM	#5 (permalink)
Polymorphic Base Member Join Date: Feb 2012 Location: Albuquerque Posts: 51 Drives: 370z GM 6MT Rep Power: 13	So if they raise the price, they will be sitting on it for a couple months for someone else to buy. They assured me it wouldnt be over 30800 besides tax which I said was acceptable. Which is about $900.

02-17-2012, 09:26 PM	#6 (permalink)
MattP725 A True Z Fanatic Join Date: May 2011 Location: Toms River, NJ Posts: 1,904 Drives: 2010 40th Rep Power: 16	Dude that makes no sense... unless they are going to drop your rate or the car price based upon your DP, just get the car now and put that money towards the principle next month... even if you put another 10k (which I'm sure isn't what you're doing) at one month and say 6%, you are only paying an extra 50 bucks in interest and that is again assuming you are somehow coming up with 10k... go get that thing!

02-17-2012, 09:33 PM	#9 (permalink)
MattP725 A True Z Fanatic Join Date: May 2011 Location: Toms River, NJ Posts: 1,904 Drives: 2010 40th Rep Power: 16	It is all in the terms of the loan... the interest should be reduced if you make an additional principle payment.. some loans penalize you for early payoffs of principle though. It is still splitting hairs in my opinion... you could just as soon put that large payment in and either have them recalculate the payment over the life or just make the payments based upon what they would be with the bigger DP (meaning you will be ahead of schedule on your payments and will catch up towards the end of the loan). If it makes you feel better to wait and be more organized, I am all for it but I don't think it will make much of a difference cost wise.

02-19-2012, 11:26 PM	#14 (permalink)
Polymorphic Base Member Join Date: Feb 2012 Location: Albuquerque Posts: 51 Drives: 370z GM 6MT Rep Power: 13	Just figured the avatar out.