Deal I Got on My 2015 FR-S Raven Stock 6MT

[MurderRider]

Hey All,

I'm new to the forum. After a painstaking, dealership-fatiguing week of exploration and half-deals and broken deals, I finally pulled the trigger on the FR-S. I went from looking at used 2013s priced around 22k, to looking at new 2014s, to finally settling on the 2015 when they suddenly came in at a local dealership. Here's the deal I got for comparison with others:

This is an NJ deal btw.

Car price: 24,479.64

Out the door price: 25,787

After down payment of 1,000 and trade in of 2970, I am financing 21,875

My loan is 2.70% over 72 months, with the monthly payments at 329

I'm paying about 80 bucks more a month than I was with my 2012 Elantra 5MT. I am hoping the extra money will be worth itself in fun. I am thinking yes after only having the car for one day.

Let me know if this is an average/good deal I got. Again, it's the base model 2015.

[airjonny]

Sounds like a good deal to me. Congrats! Did you get any college/military discounts?

[Turbo95eg6]

Cool deal, bro.

[MurderRider]

No college or military discount. I would have qualified for the $750 incentive for college, but for some reason the dealership decided to instead just up my trade-in to meet that incentive. I think at first it was because I was using a credit union and had my financing approved through them before heading into the dealership. In the end, the dealership got 2.70 percent versus the 2.49 of the credit union, so I just saved time and went with the dealer.

In fact, the leverage of having the credit union financing helped TREMENDOUSLY and was thanks to this forum. I read a post somewhere on here about someone using Penfed credit union, and how all it takes to join is $20.00. So I said hey it's worth a shot. They have awesome rates and once I was in they approved it that night. This comes against my call to Wells Fargo who offered 10.00 interest rate. Ridiculous. So thanks to someone on here for posting about Penfed, it really took the haggle out of that part of the deal.

[Mr. Banana]

Originally Posted by MurderRider

No college or military discount. I would have qualified for the $750 incentive for college, but for some reason the dealership decided to instead just up my trade-in to meet that incentive. I think at first it was because I was using a credit union and had my financing approved through them before heading into the dealership. In the end, the dealership got 2.70 percent versus the 2.49 of the credit union, so I just saved time and went with the dealer.

In fact, the leverage of having the credit union financing helped TREMENDOUSLY and was thanks to this forum. I read a post somewhere on here about someone using Penfed credit union, and how all it takes to join is $20.00. So I said hey it's worth a shot. They have awesome rates and once I was in they approved it that night. This comes against my call to Wells Fargo who offered 10.00 interest rate. Ridiculous. So thanks to someone on here for posting about Penfed, it really took the haggle out of that part of the deal.

+1 for PenFed. Legit and straightforward, while providing a low APR for multiple terms.

I've become a member as well and will definitely anticipate using them in the future.

Good luck and enjoy your new FR-S.

(Btw, let's see some pics!)

[Eurasianman]

Originally Posted by MurderRider

In the end, the dealership got 2.70 percent versus the 2.49 of the credit union, so I just saved time and went with the dealer.

So, the credit union had a lower interest rate, but you went with the dealership to avoid less hassle? Or did I misread that

Edit: If my math is correct, you 'could' have saved $142.42 over the life of the loan going with your credit union. In that case, and I would have probably done the same, going with the dealer was not that big of a deal.

[Vincenttam]

Good buy buddy. I got mine for about 27400 otd last september after clearance mark down.

[MurderRider]

Quote:
Originally Posted by MurderRider View Post
In the end, the dealership got 2.70 percent versus the 2.49 of the credit union, so I just saved time and went with the dealer.
So, the credit union had a lower interest rate, but you went with the dealership to avoid less hassle? Or did I misread that

Edit: If my math is correct, you 'could' have saved $142.42 over the life of the loan going with your credit union. In that case, and I would have probably done the same, going with the dealer was not that big of a deal.

Yeah, that sounds about right. A little under 2 bucks a month would have been the difference (I think--not the best with numbers here.) As I said though, I was so done with the process (after 5 days on the hunt and going to several places and sitting for hours only to have the numbers change at the end of the deal) that I wasn't willing to wait another day for the draft check. Call it impatience on my part more than anything else

[Jyn]

$100-$200 is nothing, you can make that up by selling some junk on Craigslist if you really wanted to. Congratulations on your new car!

[ntron1]

Impossible to tell. If you traded in a mercedes valued @ $10K you were shafted. If you traded in a POS you did fine.

[MurderRider]

traded in a Hyundai Elantra 2012 with 26.5k, a stock 6 speed manual base model. According to Bluebook, the trade-in was good.

[TCGMark]

Couldn't you just go to the credit union and get a loan for what you owe Toyota with their lower interest rate? It's like refinancing.

[FRS_FIEND]

I thought there wasnt any haggling when purchasing new cars with scion?! Im confused as at to what numbers were changing?

What other options did you get ?


CONGRATS ON JOINING THE FRS CLUB! ;]

[TJ3000]

I went through Navy Federal Credit Union for mine. My credit isn't so great but if you go through a credit union specially if you have a strong credit union, 90%of the time they will approve you with a way better interest rate. Toyota wanted to give me 27% on my loan! Navy Federal gave me mines for let's just say < 3% getting a loan through them helped me repair my credit.

For anyone that wants to buy this car in the future consider a Credit Union. If you buy the BRZ (which I didn't) you can keep haggling the dealer tell them your paying cash, then when it comes down to the loan SLAP THE CHECK FROM THE CREDIT UNION IN THERE FACE! In my case (Scion) I just told the dealer this is what I want fetch me my car.

Credit Unions > Corporate Banks