New 2011 IPL Price
04-26-2012, 08:32 PM
#16
The reason the payment is high at $721 is due to the 10.99% interest rate and not negative equity on my trade. I reran all the same figures and would have a payment of $600 if I was able to get the same 3.99% rate as on the convertible.
As far as my 2009 G37S it is 100% stock with wheels that require refinishing due to curb rash. I currently owe $22,100 and the dealer offered $25,500 on trade so I do have that equity plus the $4,500 down payment.
Taking the $45,500 IPL - $3,400 trade equity and - $4,500 down payment + tax, title and registration at 10.99% = $721 payment per month.
That is high, however, if you make credit a mistake then there is a time you have to pay the piper while you allow time for the score to recuperate. If I get the IPL I plan to refinance a year or so out so that I can get the rate and consequently the payment down to a more reasonable level.
Best Regards,
Michael
As far as my 2009 G37S it is 100% stock with wheels that require refinishing due to curb rash. I currently owe $22,100 and the dealer offered $25,500 on trade so I do have that equity plus the $4,500 down payment.
Taking the $45,500 IPL - $3,400 trade equity and - $4,500 down payment + tax, title and registration at 10.99% = $721 payment per month.
That is high, however, if you make credit a mistake then there is a time you have to pay the piper while you allow time for the score to recuperate. If I get the IPL I plan to refinance a year or so out so that I can get the rate and consequently the payment down to a more reasonable level.
Best Regards,
Michael
04-27-2012, 01:17 PM
#18
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The reason the payment is high at $721 is due to the 10.99% interest rate and not negative equity on my trade. I reran all the same figures and would have a payment of $600 if I was able to get the same 3.99% rate as on the convertible.
As far as my 2009 G37S it is 100% stock with wheels that require refinishing due to curb rash. I currently owe $22,100 and the dealer offered $25,500 on trade so I do have that equity plus the $4,500 down payment.
Taking the $45,500 IPL - $3,400 trade equity and - $4,500 down payment + tax, title and registration at 10.99% = $721 payment per month.
That is high, however, if you make credit a mistake then there is a time you have to pay the piper while you allow time for the score to recuperate. If I get the IPL I plan to refinance a year or so out so that I can get the rate and consequently the payment down to a more reasonable level.
Best Regards,
Michael
As far as my 2009 G37S it is 100% stock with wheels that require refinishing due to curb rash. I currently owe $22,100 and the dealer offered $25,500 on trade so I do have that equity plus the $4,500 down payment.
Taking the $45,500 IPL - $3,400 trade equity and - $4,500 down payment + tax, title and registration at 10.99% = $721 payment per month.
That is high, however, if you make credit a mistake then there is a time you have to pay the piper while you allow time for the score to recuperate. If I get the IPL I plan to refinance a year or so out so that I can get the rate and consequently the payment down to a more reasonable level.
Best Regards,
Michael
10.99 is a rough interest rate, I'd finance as little as possible at that rate.
You're going to pay $130 extra in finance charges with that...why not just keep your current car?
04-27-2012, 02:03 PM
#19
Thanks for all of the feedback. Here is the updated deal. They lowered the price of the IPL to $44,500 and increased the trade allowance on my 2009 G37S to $25,500 which I think is a pretty good deal, at least on the trade. The only issue is due to a recent credit hiccup (my own fault) I was given an interest rate of 10.99% which comes out to $721 per month for 72 months with $4,500 out of pocket.
They did, however, say I qualified for a 3.9% promotional rate on a left over 2011 G37S convertible which I would be able to finance for 66 months with $3000 down and a lower payment than the IPL. That totally messed with my head. I was all set on the IPL but the convertible looks to make more sense.
Is there any idea which car would hold it's value better 3 to 5 years down the road?
Best Regards,
Michael
They did, however, say I qualified for a 3.9% promotional rate on a left over 2011 G37S convertible which I would be able to finance for 66 months with $3000 down and a lower payment than the IPL. That totally messed with my head. I was all set on the IPL but the convertible looks to make more sense.
Is there any idea which car would hold it's value better 3 to 5 years down the road?
Best Regards,
Michael
?When i got my G, i qualified for 2.5%. I didn't tell the dealer. He ran my report and offered 6.5%. I then pulled out the 2.5% offer FROM THE SAME BANK that he was going to use. Things got uncomfortable after that
04-27-2012, 02:07 PM
#20
That is high, however, if you make credit a mistake then there is a time you have to pay the piper while you allow time for the score to recuperate. If I get the IPL I plan to refinance a year or so out so that I can get the rate and consequently the payment down to a more reasonable level.
Best Regards,
Michael
You don't have to "pay the piper" you can wait until the piper drops off your credit report
04-27-2012, 05:50 PM
#21
Thanks again to all for your feedback. I have decided to forgo the 2011 IPL and hang onto my G37S for another year to allow time for my credit to straighten out and leave the possibility open that I pick-up one of the redesigned G37s in the summer of 2013.
Best Regards,
Michael
Best Regards,
Michael
04-30-2012, 03:27 AM
#22
Honestly get it lower. If the price were too good to pass up then it would be sold. Part out your car before trade. Including but not limited to: floormats, paddle shifters, mods etc. they're a dealer and just have all that crap sitting around anyways.
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