Is waiting worth it? (more time=lower price?)

IgotstahaveaZ

me too man. i wanted one so real badly. i just sold my 07 gixxer 600 last month so i have 20g total to put down right now. i wanted a base no sport for 30g but no dealer would give it to me. i guess i have to wait til next yr to buy it out right.

imag

Was that a credit issue? They're being brutal right now. Still, with 20K down, I would think they'd take that. After all, they basically can't lose, even if they had to repo your car...

I'm trying to do financing with 8K down. It's brutal when financing is on the edge, because even if you get a good cash price, they can always stack on the interest to make money off you...

IgotstahaveaZ

yea i dont have good credit. i will do 20k down but they wont give me good apr and when i was willing to do it they wont tell me exact number to the how much i owe left and exact per month i pay and how many months. i did it by phone. i will wait til 2010 comes out then i will buy it out right. hopefully that is fall or winter

tvfreakazoid

I read that it's not good to tell the dealer how much your putting down. IS this true?

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MightyBobo

You do NOT tell the dealer how much you are putting down cash, until you have negotiated your FINAL PRICE on the car in writing! And even THEN if you tell them before you have signed your finance paperwork, you need to beware of them jacking your deal with things like $450 documentation fees and ****.

Personally, I wouldn't tell them until you have gotten to the finance guy and when he asks how much you'd like to put down, you tell him then.

The only things you should talk to your salesmen about are how much the final price of the car will be (and any addons if you so desire), and what other **** he wants to charge (IE, doc fees). Everything is negotiable really, except for the destination fee and tax. A ridiculous doc fee is NOT required, and I would pay NO less than $100 for that. Even then, you can argue that you do not want to pay for any of it at all, and just keep getting up and leaving. You will get your way on that, I promise.

BTW, people for some reason think that if they walk into a dealership with $30000 cash, they will be treated like a king. Not so much. The dealership will get their cash no matter what, even if its through a loaning company. Now, if you use their bank to finance, they get a very nice kick back on the deal, depending on how bad they hose you on the APR. If you pay cash, they get nothing at all lol.

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I don't own a car anymore.

tvfreakazoid

What are doc fee consist of?
Is it better to get a loan through the bank or the dealership? I assume if you get a good interest rate with the bank, then in turn i guess you can negotiate a lower interest rate with the dealership. Is that a good idea?

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MightyBobo

The doc fee is supposed to cover how much it costs for them to pay for their super custom papers (you know, those REALLY LONG forms that you don't see anywhere else but dealerships), and the documentation guys work. In reality, its just a way for them to cover some overhead. $100 is more than enough.

Your 2nd question can get complicated really fast, but in the case of the 370Z right NOW, whoever offers the better rate is most likely, the best candidate. That'd be Pentagon Federal, if you have the credit.

BUT, lets throw a wrench into the gears and give you an example where going with the dealerships loan may be better and/or easier.

- 0.0% financing is offered (no bank will ever offer that...)
- The dealership can match the rate offered by your bank, or sometimes beat it (rare for that, because the higher the rate they can get you, the more money they get as a kick-back. Also, PenFed's rates are so good, I mentioned them to the dealership and they simply laughed and said, "Yeah, we cant beat that - go with them".)

And here's a good example of a situation where going with a bank loan may be better

- Assume 0.0% financing is offered from the dealer. BUT, on the other hand, they also offer a $5000 cash off but with the standard shitty rate. You get to choose only one. Well in this case, its very likely that going with a lower APR bank loan may be better, and take that $5000 cash off rather than take the 0.0% loan through the dealership, and lose the $5000.

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Greg

OP if your credit is less than good. You should wait.. It's just a car, making rash choices is never a good thing. Don't forget there will be other sales and or discounts down the road. If you can afford to drop a large chunk of change I would buy outright or finance the least amount as possible.. Im from the "why pay them more than Im supposed" or "APR sucks" school of thought.

Just take your time. Good luck


It would depend on the car make. They don't kiss ***.... Because they know that you have the advantage or upperhand.

Buying the car in full is not really about getting treated like a king.. Paying cash just means, Your in charge of entire buying process. You may not get treated like a king, but you'll damn well feel like one.

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