Did I Get A Bad Deal From The Dealership? - Toyota GR86, 86, FR-S and Subaru BRZ Forum & Owners Community

IDFWU 420 · 07-24-2017, 08:44 AM

Went to my dealer to buy my first car not knowing what's going to happen..
Wanted a White stock FRS, but they had only a White TRD FRS, so I said fuck it and walk out the door paying $31k with a 7% APR for 5 years

(Included TRD springs, swaybar, and exhaust.)

It's been a good 2 years crying, but I think I'm over it now.

Anyone else think they got a bad deal from their dealership?!

Tcoat · 07-24-2017, 08:48 AM

Wasn't a great deal but wasn't horrible for 2 years ago either.

You did get raped on the interest though.

allowe · 07-24-2017, 09:34 AM

I'm doing 6 years open loan on 5.99% you could've argued like I did. They wanted to give me 7.99, I told them to eat a ****. They got me a down to 5.99

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StraightOuttaCanadaEh · 07-24-2017, 09:44 AM

Quote:

Originally Posted by allowe

I'm doing 6 years open loan on 5.99% you could've argued like I did. They wanted to give me 7.99, I told them to eat a ****. They got me a down to 5.99

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That's kinda high. Did you do $0 down? I got 3.49 on 7 years, and I thought even that was high

g e · 07-24-2017, 09:45 AM

Look into refinancing the loan. If your credi is halfway decent you should be able to get a rate for half what you have now. Maybe less. Check with credit unions in your area.

Tcoat · 07-24-2017, 09:46 AM

allowe · 07-24-2017, 09:53 AM

Quote:

Originally Posted by StraightOuttaCanadaEh

That's kinda high. Did you do $0 down? I got 3.49 on 7 years, and I thought even that was high

That's pretty good! Was it new? I did 0 down but I'm paying it off before that ATM. Mine is 6 years actually. My credit is pretty good too.

To op, do look into refinancing it. You might be able to save a couple of bucks

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FR-Sky · 07-24-2017, 10:01 AM

7% APR is little high....might consider refinance it, it might saves you hundred or even thousand buck for after market part

Mine was 2.99 APR

StraightOuttaCanadaEh · 07-24-2017, 10:08 AM

Quote:

Originally Posted by allowe

That's pretty good! Was it new? I did 0 down but I'm paying it off before that ATM. Mine is 6 years actually. My credit is pretty good too.

Yeah it was new. I also traded it my old Mini, which wasn't even driveable due to a blown engine for 1200 and put another 1000 on top, so total of 2200 down. I also got them to lower the price by 500. I still felt like I was getting ripped off. I don't know, I hate being in dealerships and going through a deal. I just have this feeling like something's terribly wrong, like I'm being scammed lol.

extrashaky · 07-24-2017, 10:19 AM

Some of these interest rates you people are quoting are insane. I'm paying 1.49% on my 2014. It was a four year note, but that interest rate was good for up to a six year loan. It'll be paid off in January.

I didn't finance through a dealership. I financed through a credit union I wasn't even a member of, and I had my financing in place before I even walked into the dealership to talk about buying. You save a lot of money by shopping around for rates and getting pre-approved for financing first.

You also get a better deal on the car itself if you don't finance at the dealership. You take away one of the salesman's best tactics for getting you to pay a higher price for the car.

StraightOuttaCanadaEh · 07-24-2017, 10:30 AM

Quote:

Originally Posted by extrashaky

Some of these interest rates you people are quoting are insane. I'm paying 1.49% on my 2014. It was a four year note, but that interest rate was good for up to a six year loan. It'll be paid off in January.

I didn't finance through a dealership. I financed through a credit union I wasn't even a member of, and I had my financing in place before I even walked into the dealership to talk about buying. You save a lot of money by shopping around for rates and getting pre-approved for financing first.

You also get a better deal on the car itself if you don't finance at the dealership. You take away one of the salesman's best tactics for getting you to pay a higher price for the car.

I actually discussed this with my financial advisor, and I'm not sure if this just pertains to Canada, but he said in general the lowest rate you'll get is at the dealer. He told me if they try to charge you above a certain rate, come back and see me.

Yousend · 07-24-2017, 10:40 AM

Quote:

Originally Posted by StraightOuttaCanadaEh

I actually discussed this with my financial advisor, and I'm not sure if this just pertains to Canada, but he said in general the lowest rate you'll get is at the dealer. He told me if they try to charge you above a certain rate, come back and see me.

I got 60 months 1.79% interest. Got my first credit card 6 months before my purchase. Should have been 1.99%, but recent graduate program dropped it by 0.2% and $1k discount. Dealerships are by far the cheaper option for financing here.

Shinigami301 · 07-24-2017, 11:13 AM

I got a rate of 0.9%- zero-point-nine- last year when I bought my 2016. Hell that's practically free money.

I was prepared to pay cash for the whole thing but at that rate, I was way ahead financing a chunk and investing the remaining cash.

jubella2 · 07-24-2017, 11:58 AM

Some people are broke and have no credit. 7% might be a good deal in their position.

07-24-2017, 08:44 AM	#1
IDFWU 420 Honarary Member Join Date: Nov 2014 Drives: 2015 FRS Location: LA Posts: 145 Thanks: 84 Thanked 35 Times in 23 Posts Mentioned: 0 Post(s) Tagged: 0 Thread(s)	Did I Get A Bad Deal From The Dealership? Went to my dealer to buy my first car not knowing what's going to happen.. Wanted a White stock FRS, but they had only a White TRD FRS, so I said fuck it and walk out the door paying $31k with a 7% APR for 5 years (Included TRD springs, swaybar, and exhaust.) It's been a good 2 years crying, but I think I'm over it now. Anyone else think they got a bad deal from their dealership?!

07-24-2017, 08:48 AM	#2
Tcoat Senior Member Join Date: Jul 2014 Drives: 2020 Hakone Location: London, Ont Posts: 69,845 Thanks: 61,656 Thanked 108,283 Times in 46,456 Posts Mentioned: 2495 Post(s) Tagged: 50 Thread(s)	Wasn't a great deal but wasn't horrible for 2 years ago either. You did get raped on the interest though. __________________ Racecar spelled backwards is Racecar, because Racecar.

07-24-2017, 09:46 AM	#6
Tcoat Senior Member Join Date: Jul 2014 Drives: 2020 Hakone Location: London, Ont Posts: 69,845 Thanks: 61,656 Thanked 108,283 Times in 46,456 Posts Mentioned: 2495 Post(s) Tagged: 50 Thread(s)	__________________ Racecar spelled backwards is Racecar, because Racecar.

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07-24-2017, 09:34 AM	#3
allowe Senior Member Join Date: Sep 2016 Drives: FR-S Location: mississauga Posts: 576 Thanks: 227 Thanked 122 Times in 89 Posts Mentioned: 7 Post(s) Tagged: 0 Thread(s)	I'm doing 6 years open loan on 5.99% you could've argued like I did. They wanted to give me 7.99, I told them to eat a ****. They got me a down to 5.99 Sent from my iPhone using Tapatalk

07-24-2017, 09:45 AM	#5
g e Senior Member Join Date: Nov 2013 Drives: 2013 BRZ Location: Somewhere in The States Posts: 393 Thanks: 337 Thanked 259 Times in 158 Posts Mentioned: 1 Post(s) Tagged: 1 Thread(s)	Look into refinancing the loan. If your credi is halfway decent you should be able to get a rate for half what you have now. Maybe less. Check with credit unions in your area.

07-24-2017, 10:01 AM	#8
FR-Sky Senior Member Join Date: Dec 2015 Drives: 2013 FR-S 10 series [755] Location: Bay Area, CA Posts: 1,189 Thanks: 385 Thanked 390 Times in 264 Posts Mentioned: 7 Post(s) Tagged: 2 Thread(s)	7% APR is little high....might consider refinance it, it might saves you hundred or even thousand buck for after market part Mine was 2.99 APR

07-24-2017, 10:19 AM	#10
extrashaky Senior Member Join Date: Mar 2014 Drives: 2014 BRZ Limited Location: USA Posts: 4,045 Thanks: 1,100 Thanked 5,618 Times in 2,266 Posts Mentioned: 55 Post(s) Tagged: 1 Thread(s)	Some of these interest rates you people are quoting are insane. I'm paying 1.49% on my 2014. It was a four year note, but that interest rate was good for up to a six year loan. It'll be paid off in January. I didn't finance through a dealership. I financed through a credit union I wasn't even a member of, and I had my financing in place before I even walked into the dealership to talk about buying. You save a lot of money by shopping around for rates and getting pre-approved for financing first. You also get a better deal on the car itself if you don't finance at the dealership. You take away one of the salesman's best tactics for getting you to pay a higher price for the car.

07-24-2017, 11:13 AM	#13
Shinigami301 Slow driver, fast biker. Join Date: Jun 2016 Drives: '16 86, '00 Celica GTS, Sportbikes Location: Usually in a 峠 Posts: 350 Thanks: 35 Thanked 306 Times in 168 Posts Mentioned: 0 Post(s) Tagged: 0 Thread(s)	I got a rate of 0.9%- zero-point-nine- last year when I bought my 2016. Hell that's practically free money. I was prepared to pay cash for the whole thing but at that rate, I was way ahead financing a chunk and investing the remaining cash.

07-24-2017, 11:58 AM	#14
jubella2 Senior Member Join Date: Oct 2016 Drives: DGM BRZ Location: MN Posts: 176 Thanks: 126 Thanked 78 Times in 60 Posts Mentioned: 0 Post(s) Tagged: 0 Thread(s)	Some people are broke and have no credit. 7% might be a good deal in their position.

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