Quote:
Originally Posted by FR-Shred
Dont do this. If the price is right and the interest and terms are right the payments will be right.
Cause they can get you $350 monthly but you are paying for something like 8 years and still over paying for the car. Salesman always say "what payments were you looking at?" and "what if we can lower the payments by $xxx a month?"
The only way to have a lower payment is.. 1. lower the price of the car (which doesn't change the payments a lot unless its a huge drop in price / downpayment) 2. lower the interest rate. 3. increase the payment term (more years). So haggling over the payments is the assbackwards way to negotiate the price of a car.
You should look at the price and the interest outside that its just simple math to come up with payment cost. You first work on the cars price (if you want to haggle) and then you see what interest you're getting. If the price is fair and your interest rate/terms is good.. your payment will be good.
EDIT: The monthly payment is really the least important part of buying a car. Its the easy way to trick people into buying cars which is why dealers use it in negotiating. "we can get you driving out of here at only $325 a month" but they arent telling you the length of the loan or interest rate.
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ah forgot to clarify that, i meant at the same terms as the 450 @ 5 years when paying the 350. Its alot easier for me to calculate total interest by doing it this way. I guess thats the best way for me to haggle things. OP need to find a way that suits his style. these are just tips
