Went to stealership to get a 2010 infiniti for 26k and when it came to financing I told then I wanted it with 5k down and 350/month for 72 months

They came back and said....so here's the deal...we need 18K DOWN, then you can have 350/month for 6 years....WTF


Tha'ts a 43500 payment total on a 26k car!!!!! wow....wow.....

 

Obviously bad on their part, but never talk what you want as a monthly payment. They will get you with the whole "yeah we can do that for a couple extra years", etc. Another good tip is when they ask you "finance or cash" is to say cash. It doesnt mean you are coming in with a suitcase full of bills........a bank check (from a bank that you DID use financing) is just as good as cash to car dealers. Only time that doesnt apply is if you are getting sweet financing thru the manufacturer (I got 0.9% on my G), but again dont talk monthly payment, just talk initial price and down payment amount.

Luckily I learned that quickly when looking for my first car....97 Mits Eclipse turbo. They wanted like 15K for the car, I made the mistake of saying I wanted a 250/month payment.....which they obliged, for 8 yrs. Wasnt hard to figure out that math and I walked. They hounded me for a month or two after too. Never went back to that dealer or any of the other dealers owned by the same people.

 

When I was 21 I bought my first new car. I got effed six ways to sunday. Any way they could have screwed me, they did, and I took it with a smile... because I was ignorant.

After I found out how bad I got hosed, I vowed to learn everything I could and never let it happen again.

Good luck in your search for a G and better luck finding a reputable dealer.

 

Yeah, dealers do that kind of BS all the time. I remember I wanted to trade my G for a 335i for some stupid reason (don't ask). Car was worth exactly 31k at the time via KBB, which is also exactly 2k less for what the locals sell them. The trade was worth 28k and I was willing to lose a bit. Dealer checks with his friends for 30 minutes, then goes: "Yeah, I checked with my guy at Infiniti and he said that your VIN isn't coming up as a "Sport" model, so all I can do is give you 24k for it." Car had 13k miles on it at the time.

I was, like, "So you're saying that someone ripped out my entire interior and installed "Sport" seats in it, the switched out the paddle shifters, then the sport rims, then the sport front bumper, and then the sport BRAKES just to make it seem like a "Sport" model?"

I walked. Hopefully that dealer dikkhead found a fair life by now.

 

Ya there's a lot of dealers that are idiots in this economy, I did the math and at 350 per month for 6 years that's an easy 24500 total and I got cash down (I'm only doing 5k cause cats aren't worth putting a ton of cash down when you can invest that extra money and make more than what your car apr rate is) so even that is 29500 which for a 2008-2010 with less than 40k miles that's an easy number to get. Then again sales tax here in Washington is 10% e.e

 

And thanx guys, u shoulda seen this beauty http://seattle.craigslist.org/see/ctd/2598202921.html

 

never get caught up with negotiating monthly payments.

 

UM??? I manage a bank branch, and there's no negotiating this. Its what you qualify for. not many dealerships let alone banks will offer a 7 year loan to a customer(especially a new customer) because its too high risk(people ususally resell or refinance and they lose money on the origination of the loan).

You have to factor in the interest rate, as well as if you're paying your tabs/plates/etc out of pocket or trying to finance that as well.

 

Bank wise, no, there is no negotiating. You are giving out X amount, + Y interest, divided by number of months.

Dealers are really good at allowing the customer to "get what they want in a monthly payment", and using smoke and mirrors to make it seem like its a good deal for the customer when the only person that makes out is the dealer.

Banks are (mostly) honest, dealers tend to stretch the rules a little bit. Read a few posts in here, 24K for a 15K car, etc. But the dealer "caved" and gave the potential customer what they wanted for monthly payment.

 

Maybe you have bad credit, and the finance interest rate is 18% for you???

 

Doesn't make sense...

Assuming $26,000 plus taxes and fees it would be around $28,000 total

What you wanted with $5k down amounts to about 3% interest financing $23,000

What they offered with $18k down amounts to 37.5% interest financing $10,000

You would have to have very good credit to get 3% interest on a used car

You would have to have horrendous credit to get 37.5% interest on anything

 

yeah **** that

 

No you got it wrong it's not Stealership fail, it's a Stealership Win