about to go to local dealership, i think somethings up

just yesterday, i went to the dealership, looking for 05 gt wagon, they had none, so i say ok, sedan then, gt, they had it at 27k, he said theres a $2,000 rebate, i say ok, but ive seen cheaper prices on other dealerships (fitzmall), and on top of that, im kind of nervous cause my credit score is 597, and the only thing i have is a 2000 dakota truck to trade (they quoted 4k for it )

so i tell the salesman this, ok, this is what i want to do, i want 72 months and $350 or lower in monthly payments (so that means that he has to finance for me 20k, and the truck takes care of everything else)

this happened yesterday night, it took him quite a while cause he had to go thru a couple of banks, so he said he calls tomorow then and see wut happens,

just 30 ago, he calls and tells me can i swing by, he dont wanna tell me why, but i think he found a deal for me

so ya think is a good deal??

Base or Limited?

You should be able to get it for less than 26 grand.

People chime in.

Base or Limited?

 

You should be able to get it for less than 26 grand.

 

People chime in.

well i kinda did, remember, 350 x 72 monts is 25,***, so that means that the tax and everything gotta be included in those 350 x72 payments

well, im kinda bummed out, for my credit score, it was way too high, i guess i gotta wait till my credit gets better, (its 597)

they said that what i can afford is the base "i", and he said somewere in 360-380 per month, 72 months, (riiiiiiiight, like im that stupid)

so i guess i just browse in here till my credit gets better and afford a gt

I leased mine it was $29,998 limited and auto fully load and I pay $335 a month for 48 months at the end it will be like $12,000 to buy it not to bad other then I was in an accident with it at 4,000 miles front end shit long story don't want to bore any one:dm:

when you lease, does it matter your credit score much, and also is it true that when leasing, auto insurance is not needed??

when you lease, does it matter your credit score much, and also is it true that when leasing, auto insurance is not needed??

umm...YES! and NO!

Credit score for a leased vs. a financed vehicle is the same...they will check your credit for the best possible/worse rate.

Insurance...yes, of course you need insurance...(unless you live in New Hampshire). However, GAP insurance is also recommended with leased vehicles...helps you recover the loss that you would ordinarily pay when you go to return the vehicle.

However, GAP insurance is also recommended with leased vehicles...helps you recover the loss that you would ordinarily pay when you go to return the vehicle.

or would owe if the car was totalled and the insurance valued it less than what the leasing company was expecting.

changing the subject, theres something i need to ask

does it dramaticly decrease your credit score if you apply for financing at different dealerships??

is there a number per month or something that i could do this without damaging my credit score??

so far, ive sent application to 3 places, 2 subaru dealerships, and a online application at capital one

The more the 'inquiries' on your credit, the more the top number drops off. I think it's like 5 or less points for every inquiry...so don't go silly, and fill out applications everywhere...you'll be sorry!

1 or 2 won't hurt that much...but if it's more than that a year, I am sure it will.

Leasing is for those that like to return cars every three years, and get newer ones. It's a total LOSS I tell you! It's like driving a rental car, then returning it, after x amount of years. Plus, you get tagged with the 'mileage per year' which I think is also stupid...because once you go over that limit, you pay! At the end of the lease, you walk away, and maybe have to pay for wear/tear on the car...and with the paint as bad as it is on the leggy, u might just get hosed some more.

I dunno, I wouldn't lease...but that's just me. I financed for 5 years...put 500 down...and will recoup most of the value, when I go to trade it in.

If you have to finance for 72 months and $20K, then you can't afford the car.

If your credit score isn't stellar, then that's even more reason not to buy this way.

IMHO, you should set your sights on something more modest, and save your $$$s for a future fun purchase.

No offense intended, BTW.

just yesterday, i went to the dealership, looking for 05 gt wagon, they had none, so i say ok, sedan then, gt, they had it at 27k, he said theres a $2,000 rebate, i say ok, but ive seen cheaper prices on other dealerships (fitzmall), and on top of that, im kind of nervous cause my credit score is 597, and the only thing i have is a 2000 dakota truck to trade (they quoted 4k for it )

 

so i tell the salesman this, ok, this is what i want to do, i want 72 months and $350 or lower in monthly payments (so that means that he has to finance for me 20k, and the truck takes care of everything else)

 

this happened yesterday night, it took him quite a while cause he had to go thru a couple of banks, so he said he calls tomorow then and see wut happens,

 

just 30 ago, he calls and tells me can i swing by, he dont wanna tell me why, but i think he found a deal for me :D

so ya think is a good deal??

Yeah no offense from me either but a 597 credit score does not even get you the special financing from Subaru unless you have a bunch of money down to cover any negative equity and your loan to income ratio is above average.

Basically the lower your credit score, the higher the interest rates. This is a bank decision and not the dealer trying to rip you off.

Subaru grades credit under the tier system, Tier 1(FICO 700+), Tier 2 (FICO 660-699) and Tier 3 (FICO 659 & below). So for 63 months at Tier 1 it would be 3.9%, then 4.9% & 5.9%.

just yesterday, i went to the dealership, looking for 05 gt wagon, they had none, so i say ok, sedan then, gt, they had it at 27k, he said theres a $2,000 rebate, i say ok, but ive seen cheaper prices on other dealerships (fitzmall), and on top of that, im kind of nervous cause my credit score is 597, and the only thing i have is a 2000 dakota truck to trade (they quoted 4k for it )

 

so i tell the salesman this, ok, this is what i want to do, i want 72 months and $350 or lower in monthly payments (so that means that he has to finance for me 20k, and the truck takes care of everything else)

 

this happened yesterday night, it took him quite a while cause he had to go thru a couple of banks, so he said he calls tomorow then and see wut happens,

 

just 30 ago, he calls and tells me can i swing by, he dont wanna tell me why, but i think he found a deal for me :D

so ya think is a good deal??

That's great that it has a $2000 rebate on it. Negotiate a price, and THEN the $2000 rebate off of the negotiated price.

I worked in credit counseling, and 597 is pretty bad (sorry, man), so be careful of the APR that they get you. Also, do some leg work and check www.kbb.com, for the value of your 2000 Dakota. Check the section that lists what the truck would list for IF YOU SOLD IT INDIVIDUALLY, and then what the trade-in retail value is. Don't settle on a trade for less than an average of what the costs are together. For example, if the truck lists for a $2000 trade-in value, and a $4000 value if you sell on your own, tell them you want $3000 for the truck.

Don't let your excitement get in the way of making wise purchasing decisions.

word of advice: my subie dealer tried to screw me on trade in, ended up getting 2x what they offered me by selling myself

All dealers will try to screw you on trade-in.

It's always more beneficial to sell yourself, if you can.

Well, I leased my car. I got it for $24,500. I put $4k down and did a 48 month lease. Monthlies are $324 and at the end, I will owe just over $9k. The reason I leased was because when I originally looked at straight financing, I was getting around 8-9% and monthies around $450 for 60 months (not great credit either). On the lease, I got 2.4% or 2.7% and 15k miles per year. My intentions are to buy the car at teh end of teh lease anyway, so i am paying more than the minimum monthly to get teh totasl down at the end of the 48 months. Not the best deal out there but definately not a stinker. Just my .02,

Kyle

Well, I leased my car. I got it for $24,500. I put $4k down and did a 48 month lease. Monthlies are $324 and at the end, I will owe just over $9k. The reason I leased was because when I originally looked at straight financing, I was getting around 8-9% and monthies around $450 for 60 months (not great credit either). On the lease, I got 2.4% or 2.7% and 15k miles per year. My intentions are to buy the car at teh end of teh lease anyway, so i am paying more than the minimum monthly to get teh totasl down at the end of the 48 months. Not the best deal out there but definately not a stinker. Just my .02,

 

 

Kyle

If I can make a suggestion, don't overpay your lease! The 2.4% rate is pretty low, and there IS a chance you will turn the car in at the end of the lease. By paying off early, you are not saving much money at that rate, so you are no worse off by putting the money in the bank (try not to spend it, ok?)

GL, just a suggestion.

If I can make a suggestion, don't overpay your lease! The 2.4% rate is pretty low, and there IS a chance you will turn the car in at the end of the lease. By paying off early, you are not saving much money at that rate, so you are no worse off by putting the money in the bank (try not to spend it, ok?)

 

GL, just a suggestion.

You know what, you're right. I don't plan on turning it in, but you never know what is down the line 4 yrs from now so, thanks,

Kyle

Never ever tell the dealer that you are looking to spend X amount of dollars per month. EVER. Calculate out ahead of time all those kind of things, and then ONLY negotiate the selling price. If you tell the dealer you just want payments less than $350 a month, but the actual deal could be done with you only spending $300 a month, guess what the dealer and the bank just got? A sucker...because when he comes in and says "Good news, we got you in at $340 a month!", they are actually screwing you with the rates.

If you are bad at numbers, and calculating out different rates, etc, get someone to help you! You must have a friend or family member who would be willing to help make sure you get a good deal.

And these other people are right...if your credit is that bad, don't try to finance a new car over 72 months. You are just asking to make your credit WORSE. But a complete beater car, and work on bettering your overall credit before you jump headlong into a long car deal.

']Never ever tell the dealer that you are looking to spend X amount of dollars per month. EVER. Calculate out ahead of time all those kind of things, and then ONLY negotiate the selling price. If you tell the dealer you just want payments less than $350 a month, but the actual deal could be done with you only spending $300 a month, guess what the dealer and the bank just got? A sucker...because when he comes in and says "Good news, we got you in at $340 a month!", they are actually screwing you with the rates.

 

If you are bad at numbers, and calculating out different rates, etc, get someone to help you! You must have a friend or family member who would be willing to help make sure you get a good deal.

 

 

And these other people are right...if your credit is that bad, don't try to finance a new car over 72 months. You are just asking to make your credit WORSE. But a complete beater car, and work on bettering your overall credit before you jump headlong into a long car deal.

How true, how true! They may even tell you, "Good news! We got the monthly payments to $349.99!" You will get RAPED.

I sold cars for for about 2 months (I wasn't sleazy enough to continue....), and normally you could talk about $2400 off of a new car sales price. There is much more room to negotiate on a USED car than on a new car. On a USED car, don't settle for a deal of less than $4,000 off their asking price. If a car is stickering for $20,000, you can get it for $16,000. Don't let them tell you otherwise. If they don't want to give you the deal, thank them for their time and take a walk. It's almost guaranteed the salesman will chase after you.