New car pricing?

[X]

We bought a car off the lot a few years ago -- talked to ppl and looked around to see when the next year's stock was coming in (mid-oct for this particular dealership)...went in early october...had good credit, which helped. Ended up paying $13,500 for a Nissan Versa with 24 test-drive miles on it....The sticker was $18k and change...ended up getting 60mo/0.9% interest with a marginal down payment. No trade in. We were happy w/ the deal.

 

[Iwritecode]

I bought new simply because I put soo many miles on my car that I wanted to start as close to 0 as possible. My car had 72 miles on it when I drove it home. 2 years later I'm at 94,000.

I could've gotten a car with 15 or 20 thousand miles on it and maybe saved a couple thousand off the price but it wasn't really worth it. This way I was able to pick out exactly what options and colors I wanted.

 

[nvanprooyen]

For perspective, the circumference of the earth around the equator is roughly 25k miles. You've effectively driven around the planet 2 times a year for the last 2 years. Dat's a lot of drivin.

 

[Nail Polish]

For perspective, the circumference of the earth around the equator is roughly 25k miles. You've effectively driven around the planet 2 times a year for the last 2 years. Dat's a lot of drivin.

And here I thought the earth was flat!

:shrug:

 

[Urblock]

Like I told NVA, maybe it's a little different in the US, but 6% mark up?? I seriously doubt that. Unless of course you believe that NFL owners barely make any money too.


One of my best friends (while growing up) dad owned 3 dealerships. I was given clear instructions from this man on how to and what to do at a dealership. His first tip was never buy brand new, 2nd was lower the price as much as you can and then walk away to sweeten the deal and his 3rd was never fall in love with just one car.

Never buy brand new. Wise words. I always try to buy a year old vehicle. Saves a lot of money. The part about never fall in love with a car will keep you from making a big mistake.

 

[Omeletpants]

I have only leased cars since 1989

 

[SERE Bear]

I expect to put 20-25K miles per year on this car for at least 3 years. Leasing would not be a good option for me.

 

[Run the ball]

Congrats Sere, it feels good when you know you've made a good decision because you did your homework too.

 

[Nail Polish]

I always buy brand new, but I buy at the end of the model year when discounts are high. Plus you have bargaining power cause they want to get rid of their cars at that time..I always keep my cars till they fall apart. I have a 99 cad that I bought new at the end of the model year. My 2012 Truck I got at the end of the model year as well...Buying and trading in is where ya get hosed IMO

 

[SERE Bear]

People are stupid pigs. I prefer to have a car that hasn't been abused by anyone else but me. Im willing to pay a premium for that as apposed to buying a cheaper used model.


Anyway, everything went as advertised except that the car has a few more options on it that I did NOT pay extra for. Puddle lights, upgraded mirror with home link buttons. Rubber trunk mat, body molding, wheel locks.... and something else that doesn't come to mind. The finance lady had a nice package of insurance/warranties, that ONLY raised the price $50 a month ($3100). I declined! Even that was low pressure so it was cool.


$25700 for the car at 0.0%'financing and I am a happy customer!


Thanks again for all the input everyone.

 

[DMelt36]

I bought new simply because I put soo many miles on my car that I wanted to start as close to 0 as possible. My car had 72 miles on it when I drove it home. 2 years later I'm at 94,000.

I could've gotten a car with 15 or 20 thousand miles on it and maybe saved a couple thousand off the price but it wasn't really worth it. This way I was able to pick out exactly what options and colors I wanted.

Just bought a new car myself and don't regret it for a second. Also do a ton of driving for work and preventing any sort of costs related to car maintenance is worth the investment, IMO.

 

[bamainatlanta]

No trade in, I forgot to mention that.

Good move. Only mention the trade-in after you got a final price.

 

[SERE Bear]

I was asked by a co-worker what the big deal was about 0.0% financing and I quote “ I got a great rate of 4.5% on my car, So I’m hardly paying any interest”
So I ran the numbers.

A $25,700 loan for 63 months at 4.5% financing will actually cost you $28,903.17 over the life of the loan. That’s $3,203.17 in financing charges.
I wouldn’t call that hardly paying anything…

I showed him the print out and he told me to go away :roll: haha

 

[Ares]

I was asked by a co-worker what the big deal was about 0.0% financing and I quote “ I got a great rate of 4.5% on my car, So I’m hardly paying any interest”
So I ran the numbers.

A $25,700 loan for 63 months at 4.5% financing will actually cost you $28,903.17 over the life of the loan. That’s $3,203.17 in financing charges.
I wouldn’t call that hardly paying anything…

I showed him the print out and he told me to go away :roll: haha

I honestly forget that some people do not understand stuff like interest on loans.... it is kinda scary...

 

[Nail Polish]

I was asked by a co-worker what the big deal was about 0.0% financing and I quote “ I got a great rate of 4.5% on my car, So I’m hardly paying any interest”
So I ran the numbers.

A $25,700 loan for 63 months at 4.5% financing will actually cost you $28,903.17 over the life of the loan. That’s $3,203.17 in financing charges.
I wouldn’t call that hardly paying anything…

I showed him the print out and he told me to go away :roll: haha

I honestly forget that some people do not understand stuff like interest on loans.... it is kinda scary...

That's why when they offer free financing or a dollar amount off the car, it pays to bring a calculator

 

[nvanprooyen]

Truth is, the vast majority of people care about one thing - the affordability of their monthly payment. It doesn't matter if they get screwed paying too much interest, or on their trade, or loan length, or whatever. They are pretty oblivious to all that. Sad...but it's generally the case.

 

[JLeigh34]

Truth is, the vast majority of people care about one thing - the affordability of their monthly payment. It doesn't matter if they get screwed paying too much interest, or on their trade, or loan length, or whatever. They are pretty oblivious to all that. Sad...but it's generally the case.

That's the truth. I bought my last car while in a happy Prozac haze. I got royally screwed on all levels. Shameful for the daughter of a man whose worked in the auto industry his whole life. He was so disappointed


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