Tried to buy a car.

I was THIS close to buying on 05 OBXT tonight but the sales mgr wouldnt budge on the price. I was budging either so no go. Funny thing is after I pretty much lowballed them on the price to get them to come down they dropped their original quote -$2000 on the dp, and -$50/mo on the payment. I was like WHOA, were your trying to rip me off with the first offer????

If it was a big dealer go back at the end of the month, they will take your offer if they still have the car.

 

If it is a small dealer, go back in a week, during a slow time for them. If they are busy with a profitable sale they won't bother with a low offer.

With a Costco Membership I got about $450 below MSRP. Perhaps this doesn't help you when buying a used vehicle, but who knows...

 

Edit: after looking at the vehicle order, it's 450 below the dealer invoice. Much much better...

they dropped their original quote -$2000 on the dp, and -$50/mo on the payment. I was like WHOA, were your trying to rip me off with the first offer????

 

Is this the FIRST time you've tried to buy a car? They are ALWAYS trying to rip you off with their first offer... Did you also tell them your trading in a car? That always makes the price higher.

Don't EVER negotiate the down payment and monthly payments. Sure, they drop the payment $50, but they added 12 months onto the loan while you weren't paying attention.

 

Negotiate the price of the car, PERIOD. If you have done your homework, you will know how much $$ down you will need for your credit score and how much your payments will be. With an older used car, you will be best off to get pre-approved by your bank or credit union anyway.

 

Oh, good luck with your car search!

 

-- Steve

Is this the FIRST time you've tried to buy a car? They are ALWAYS trying to rip you off with their first offer... Did you also tell them your trading in a car? That always makes the price higher.

nah, not trading in a car. no its not the first time. Ive bought 5 or 6 cars.

Don't EVER negotiate the down payment and monthly payments. Sure, they drop the payment $50, but they added 12 months onto the loan while you weren't paying attention.

 

Negotiate the price of the car, PERIOD. If you have done your homework, you will know how much $$ down you will need for your credit score and how much your payments will be. With an older used car, you will be best off to get pre-approved by your bank or credit union anyway.

 

Oh, good luck with your car search!

 

-- Steve

Well, I already had financing set up. Rate set in stone, 60mos PERIOD, thats the highest my credit union would go. I also was firm on 0 down payment so from there negotiating the payment was really essentially negotiating the price of the car. we were about $30/mo apart which is about $1200 on the price. I came up $15/mo and they still said no so i walked out.

 

I know what you're saying about not negotiating the payment, Ive never done it before. But when you are putting 0 down and the apr and term are already set the only thing left to negotiate is price. Even though it didnt work out I felt as if it was working in my favor. Its easier to explain to someone that you can only afford $XX/month as opposed to lowballing them on the price to get the payment where you want.

why 0 down? not exactly the best financial choice when getting into a car.

why 0 down? not exactly the best financial choice when getting into a car.

 

do you have to ask? I have no money.

 

Worse of a decision on a new car than a used car that your are trying to buy for $7K< kbb. not like Id be upside down on it anytime soon.

I guess I have a different thought process but if you cant put down at least 500-1000 then maybe its a bad time to be buying a car.

do you have to ask? I have no money.

 

WTF are you doing buying an OBXT then? Save some cash and buy a 1-2k Honda or Subaru on craigslist. No need to be overindulgent when you don't have the means.

Someone that does not have money can always purchase a $1-$2K car, but I don't think that is very wise either. Those cars tend to break and have very large fix it prices unless you can fix it yourself. You will more than likely have to come out with an extra $1-$2K per year to keep it running.

 

You purchase a car based on monthly payment expectation with a warranty, etc. and you can learn how to manage your monthly finances. No surprises this way. There is no reason to drop money for a down payment if the credit union is offering excellent rates. I know mine is 2.9% right now for a used car. That's not bad at all.

WTF are you doing buying an OBXT then? Save some cash and buy a 1-2k Honda or Subaru on craigslist. No need to be overindulgent when you don't have the means.

 

nah, i can afford a $250/mo payment just dont have $2000 laying around.

lol, the salesman keeps calling me every other day to see if I bougght a car yet. No, not to lower the price, just to see if I changed my mind and want to give in. I dont think so.

I drove to Chicago a couple of summers ago to buy a car from Lucky Motors, a 2003 G35 Coupe w/ Aero Package and Brembos. They tried to completely screw me with financing since I drove all the way from Cincinnati, so I walked away. My gf and I spent an awesome weekend in Chi-town with no regrets. Then I bought my Leggy :-)

BTW check out Lucky Motors' website. They stock up on BALLER cars, pretty sure they're all mafia, and they were all Italian creepers and were related. STAY AWAY.

http://www.luckymotors.com/web/inventory

yeah, that place looks pretty shady, just by the looks of the website./

This is the best part of their website:

 

http://www.luckymotors.com/web/vehicle/581840/2002-Mazda-Protege-CUSTOM%20PR5%20Wagon-Addison-IL

 

I guess somebody wished Mazda made a Pimpmobile Del Sol...

This is the best part of their website:

 

http://www.luckymotors.com/web/vehicle/581840/2002-Mazda-Protege-CUSTOM%20PR5%20Wagon-Addison-IL

 

I guess somebody wished Mazda made a Pimpmobile Del Sol...

lol, that car has been for sale for YEARS...by different owners I think. Used to see it all the time when I was a part of the mazda community and had a Mazdaspeed Protege.

Car loan for 60 months on a car that's out of warranty?

Unfortunately I may recommend finding a used corolla, civic, saturn, or impreza (if you need awd).

I went with $0 down on a 48 month loan for $15,000 and some things that I didn't really think about at the time were the costs of repair and maintenance (insurance was about what I expected since I priced ahead of time).

But given the economy and how companies are being bought, sold, and closed down fairly frequently still, a payment for 60 months (especially for a car that could in theory break down a week after you bought it) would freak me out quite a bit.

I drove to Chicago a couple of summers ago to buy a car from Lucky Motors, a 2003 G35 Coupe w/ Aero Package and Brembos. They tried to completely screw me with financing since I drove all the way from Cincinnati, so I walked away. My gf and I spent an awesome weekend in Chi-town with no regrets. Then I bought my Leggy :-)

BTW check out Lucky Motors' website. They stock up on BALLER cars, pretty sure they're all mafia, and they were all Italian creepers and were related. STAY AWAY.

http://www.luckymotors.com/web/inventory

 

Damn they have some hard to believe prices on a few of those cars, AM Vantage for 64k and a Bentley CGT for 73k, granted they're all high mileage (as exotics go.) I really woudn't mind that S6 tho...

Car loan for 60 months on a car that's out of warranty?

Unfortunately I may recommend finding a used corolla, civic, saturn, or impreza (if you need awd).

I went with $0 down on a 48 month loan for $15,000 and some things that I didn't really think about at the time were the costs of repair and maintenance (insurance was about what I expected since I priced ahead of time).

But given the economy and how companies are being bought, sold, and closed down fairly frequently still, a payment for 60 months (especially for a car that could in theory break down a week after you bought it) would freak me out quite a bit.

car repairs dont bother me, I can do it all myself. This isnt a matter of having money or not. Its more a matter of convincing my wife where to let me divert it,lol.

lol, that car has been for sale for YEARS...by different owners I think. Used to see it all the time when I was a part of the mazda community and had a Mazdaspeed Protege.

 

That car was just in Danville PA last month. Was in a dealership right down the road from my house. I looked at it because I couldn't figure out what it was