Down payment?

Cjanik · 08-22-2009, 09:19 AM

Im putting 30k down, financing 11k (41k OTD)

FuszNissan · 08-22-2009, 09:30 AM

Yes that is a good down payment.

FuszNissan · 08-22-2009, 09:31 AM

Quote:

Originally Posted by Cjanik

Im putting 30k down, financing 11k (41k OTD)

Are you going through a bank or credit union, cause some banks finacing that low of amount will give you a higher rate because it isn't making them much money in intrest.

Hi-TecDesigns · 08-22-2009, 06:49 PM

Quote:

Originally Posted by FuszNissan

Are you going through a bank or credit union, cause some banks finacing that low of amount will give you a higher rate because it isn't making them much money in intrest.

In line with what Lou is saying... if you can't get the lowest rate with that mount, I would finance $15-20k, and then pay an extra $4-9k in the first payment. You don't pay any more in interest over the course of the loan, and the only downside is your monthly payment will be larger (but the loan will be paid off more quickly).

FuszNissan · 08-22-2009, 07:48 PM

And most loans there are no pre-paid penalties

boomboom · 08-22-2009, 10:02 PM

Will dealers still get you qualified and then raise your interest rate to make more money on you?

FuszNissan · 08-22-2009, 10:05 PM

Yes, we are allowed to mark up the rate. Rates are negotiable. Most states cap it at 2% max mark up

havasuwiley · 08-23-2009, 05:40 PM

pd cash ,hate to finance my toys ,but in my younger "military" days 10% or whatever the min was.

08-22-2009, 09:30 AM	#32 (permalink)
FuszNissan A True Z Fanatic Join Date: May 2009 Location: St. Louis Posts: 14,275 Drives: Pure Sex Rep Power: 542	Yes that is a good down payment. __________________ Mods: Too Many to list! LouFuszNissan ZDAYZ 2012

08-22-2009, 07:48 PM	#35 (permalink)
FuszNissan A True Z Fanatic Join Date: May 2009 Location: St. Louis Posts: 14,275 Drives: Pure Sex Rep Power: 542	And most loans there are no pre-paid penalties __________________ Mods: Too Many to list! LouFuszNissan ZDAYZ 2012

08-22-2009, 10:05 PM	#37 (permalink)
FuszNissan A True Z Fanatic Join Date: May 2009 Location: St. Louis Posts: 14,275 Drives: Pure Sex Rep Power: 542	Yes, we are allowed to mark up the rate. Rates are negotiable. Most states cap it at 2% max mark up __________________ Mods: Too Many to list! LouFuszNissan ZDAYZ 2012

08-22-2009, 09:19 AM	#31 (permalink)
Cjanik Track Member Join Date: May 2009 Location: Las Vegas Posts: 578 Drives: N/A Rep Power: 16	Im putting 30k down, financing 11k (41k OTD)

08-22-2009, 10:02 PM	#36 (permalink)
boomboom Enthusiast Member Join Date: Aug 2009 Location: WI Posts: 438 Drives: 09 NISSAN 370Z Rep Power: 15	Will dealers still get you qualified and then raise your interest rate to make more money on you?

08-23-2009, 05:40 PM	#38 (permalink)
havasuwiley Base Member Join Date: Jul 2009 Location: lake havasu city az Posts: 131 Drives: 09 370z, 03 z06 etc Rep Power: 15	pd cash ,hate to finance my toys ,but in my younger "military" days 10% or whatever the min was.