Looking to buy a 2009. Is this a good deal?

LaSeeno · 01-25-2010, 03:44 PM

Wow, that is way too expensive.

72x713 = 51k

What astronomical interest rate would you be getting? NM, saw it's 15%

There is nothing wrong with financing IMO, as long as you get a decent deal.

Chances are that Nissan is gouging you because they think you will take this ridiculous interest rate because you want this car so badly.

Tell them you want a 5.5% interest rate and see what happens.

Quote:

Originally Posted by tjlazer

OK I want to buy this new 6MT 2009 370Z Base with Sport Package. Dealer is willing to sell for $31,900. MSRP is a little over $33K. I might be able to get them a little lower as the car has over 300 miles on it and they cannot sell it. They say the color is not too popular. (Monterey Blue)

So here is my deal. I have fair credit. My payment will be $713 a month for 72 months with Nissan Credit. The lease is looking much better. $536 a month for 38 months. $2K down. ($1,800 Credit for promo) 10K miles a year. Buyout after term is $18K...

I did some numbers and it seems I am way better off doing the lease than financing the $32K at 15.5%! I could finance the 18K and try to do better than 15% and it will be like several K less total cost. (and I have the option to walk if I don't want the car at that point)

Thoughts?

RavenRonnie · 01-25-2010, 03:52 PM

Nothing wrong with financing, but I would definitely buy the gap insurance as recommended above... as for the deal, no, not a good one, I got a better deal Saturday on a 2010! 2009 already have an extra year of depreciation, make them work it into the deal...

invoice on mine was 34120 and paid 31586 for a 2010!

spinhead · 01-25-2010, 04:21 PM

Quote:

Originally Posted by RavenRonnie

Nothing wrong with financing, but I would definitely buy the gap insurance as recommended above... as for the deal, no, not a good one, I got a better deal Saturday on a 2010! 2009 already have an extra year of depreciation, make them work it into the deal...

invoice on mine was 34120 and paid 31586 for a 2010!

According to Edmunds, your invoice is $31,500ish. MSRP is $33,800. Not sure where you got 34k+ from.

tjlazer · 01-26-2010, 11:24 AM

Ok got my Z! I got it for $30,948.

10.4% @ 72 months. I am happy.

I walked and told the dealer I am not paying 15%. They called me a few days later with the 10.4%. I need to get my credit score up that's for sure...

spinhead · 01-26-2010, 11:49 AM

Congrats!

01-25-2010, 03:52 PM	#17 (permalink)
RavenRonnie Base Member Join Date: Jan 2010 Location: La Vergne, TN Posts: 38 Drives: 2010 370z M6 w/sport Rep Power: 15	Nothing wrong with financing, but I would definitely buy the gap insurance as recommended above... as for the deal, no, not a good one, I got a better deal Saturday on a 2010! 2009 already have an extra year of depreciation, make them work it into the deal... invoice on mine was 34120 and paid 31586 for a 2010! __________________ 2010 Base w/Sport Pkg 6sp man

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tjlazer A True Z Fanatic Join Date: Dec 2009 Location: Tacoma Age: 52 Posts: 2,496 Drives: Z34, R35 Rep Power: 19	Ok got my Z! I got it for $30,948. 10.4% @ 72 months. I am happy. I walked and told the dealer I am not paying 15%. They called me a few days later with the 10.4%. I need to get my credit score up that's for sure...

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spinhead Base Member Join Date: Nov 2009 Location: N. Bethesda, MD Posts: 162 Drives: 09 370z BS 6MT Rep Power: 3387	Congrats!