Did I Get A Bad Deal From The Dealership?

[86Ryan]

I financed for 19k with 23.9% apr and 4k down my credit was the lowest it could be and i am locked in for 52 months. I think your deal was pretty good.

[Bives]

I was going to go with my credit union, but the dealer beat their rate. I went into negotiations with the credit union rate quote.

Oh, I forgot to say that I also got the Kicker subwoofer in that deal. If you have good or better credit rating, you are in a good position to negotiate. Also, it seems to me that now (not necessarily 2 yrs ago) that you can get them to throw in a couple pricy options that you want for free. I've been read somewhere online that the so-called "dealer invoice cost" is bullshit; there is a built-in profit even if they sell at their so-called invoice cost. BRZ sales last year were down from about 6,000 cars in the US to about 4,100 from 2015 to 2016. What is surprising to me is that do not advertise BRZs much at all compared to the other Subaru models. I don't know about the Toyota 86 in that regard. Dealers are, as we all know, very pushy, when you're dealing with the sales or finance manager. It took me about 2 hours to get out of their office to close the deal, and I just kept saying no, no, no, when it came to all those maintenance packages they try to sell you...some very expensive. I had already decided going into the deal that I wasn't going to buy any extended warranties or enhanced maintenance packages...just rely on the basic warranty. I hope this helps someone out there, because it can be bewildering and high pressure when you're sitting there in their office and they are trying to wear you down...first the most expensive maintenance add-ons, then down one level, etc, etc. I was so happy to walk out into the open air afterwards and drive away in my new BRZ! Jeez, I just wanted to give them $30k for the car, and that's how it ended up!



Sent from my iPad using Tapatalk

[Bives]

Also be sure to check Edmund's and Kelly for true market value.


Sent from my iPad using Tapatalk

[Razgriz]

Originally Posted by 86Ryan

I financed for 19k with 23.9% apr and 4k down my credit was the lowest it could be and i am locked in for 52 months. I think your deal was pretty good.

Are you serious? There was an article on jalopnik the other day about a guy who bought a truck for 20k with 20-something % APR and eventually couldn't keep up with the payments within two years. At the very least I would look into refinancing that ASAP as you are going to be paying around $10k on interest alone.

I paid MSRP-Factory Cash and I may have been able to get a better deal if I really wanted. But living in Alaska it's kind of tough to play dealers against each other when the second closest dealer is 500 miles away owned by the same group and the next is 3000 miles in Washington. I did get good value on my trade-in and 0.9 APR so I left satisfied.

[mokee92]

I had zero credit and was able to get a loan from a union only because my uncle has an excellent track record with them. I put 10K down and now 14K to go. My payment is $300/month but I'm doing $1K a month in the hopes to pay minimum interest and pay it off quickly. It is a 60 month loan but it looks like I should pay it off Next August or so. When I pay half of it off, should I still look into refinancing?

[p1l0t]

Originally Posted by mokee92

I had zero credit and was able to get a loan from a union only because my uncle has an excellent track record with them. I put 10K down and now 14K to go. My payment is $300/month but I'm doing $1K a month in the hopes to pay minimum interest and pay it off quickly. It is a 60 month loan but it looks like I should pay it off Next August or so. When I pay half of it off, should I still look into refinancing?

If the savings outwieghs the cost of the closing, than go for it.

Sent from my SM-G920P using Tapatalk

[jonchinn]

I financed a new 2017 86 at 25K, $4k down with a 1.9% APR for 5 years. not bad

[Timmy_Jones]

Drive a beater car for a few years and make payments to yourself. When it comes time for the new car, drop down cash and tell them to pound sand, no financing necessary.

[luxzje86]

got my 2017 86 with a down of $500 and a interest rate of 1.9% for 5 years financed at 25k, 27k after taxes etc.