buying new from dealer

i figure, do the payments, put away money, i dnt really have any other bills..yet.. and when i put some other money away dump a huge chunk of cash in to the loan n get it done n said, kinda hard to get anything lower with my short credit history, i guess u neeed history n a good score, we'll see, the other thing that is nice, the next 90 days no car payment due, soo stock away cash til its due n go nuts, 7 years is too long but if sumthen comes up, well safe then sorry

 

water n ramen diet starts later..err wait it's sunday already later today, corolla is gone as of 10 am.....a lil bummed how my account looks, n the debt, but....happy! (happy dance)

 

5% for 7 years? They are sticking it in your ass, without a lube or even a kiss.

I wouldn't deal with them, unless it was more like 2.5% for 5 years.

My dealer offered .87% for 4 years, but I have great credit (over 800), which helps when it comes to interest rate, but still - 5% is insane.

 

Sales guy is confident because he's making money.

 

Not sure if anyone else brought this point up......read through a couple pages, but too lazy to read the whole thing. Don't let them get into the payment game. Concentrate on the otd price and what they're giving you on trade (if you have one). As was mentioned before, do your homework on edmunds for invoice price, negotiate on your terms, go at the end of the month, and WALK AWAY. If they know you've done your homework and you're not putting up with car salesman BS, you'll get a fair deal.

I got my 2010 dbsb, trd sport for $27,500 with 0% for 3 years and 2 years of free maintenance (before that was a standard thing). Now, that was during the accelerator problems (and I had a mint condition 03 at the time and was pretty much just window shopping........didn't NEED the truck), so I really got a good deal. Might be hard pressed to get it now.

Good luck!

 

I didn't read all the posts on here so it I missed something forgive me as I don't have time to read all right now. Just wanted to point out if you went to college Toyota at least used to have the college grad program to give and "additional" 1k off for recent college grads. Ask me how I know.

So my 2011 was listed at 33 something and with some dealer paint protection crap pushed it over 34. I got it down to 29 something and then brought up the college grad thing so got another 1k off. So you can get the price down more regardless, college grad or not. Good luck!

And I agree, get the truck then mod it the way you want.

 

Like someone mentioned before--it's best to wait until the last few days of the month, email the interenet managers at several dealerships within driving distance, and let them each bid. That's what I did and I got mine for a reasonable price. Let them name the prices and fight each other to the bottom.

If you email several dealerships, at least one will be needing to make a sale to meet their goal--more than likely. This could save you quite a bit of cash.

As far as trades---know a realistic number for your vehicle. (Kbb, edmunds, what they're really selling for in your area.

The dealers in my area were all around $300 of each other, but one offered $1000 more for my trade. I ended up saving over $1352 total to drive 1hr 45 min to get it.

If I would have sold the trade privately--then let them all bid---I would have saved even more. I just didn't have the time.

 

Hey can you tell me a little about your corolla I would like to book it out to see what you should be getting for it. Be detailed as possible how many owners any wrecks deep scratches interior clean ect? Auto/ stick what's it got for options

 

As several said, go to a credit union. I will also say go to capital one, go to Bank of America, your own bank, etc. all of those will beat TFS as Toyota financing is a sales gimmick.

Your credit score is better than mine with nearly the same length in history. I have a better interest rate than what you quoted on my '12 with a 72 month term.

You can always refinance, but there is no downside to shopping around for a loan while you are shopping for the vehicle. Read up on money management sites, every one of them will tell you to apply to multiple banks (within a short time) to find the best rate.

your loan has just as much affect on the costs ad the purchase price, remember that.

Lastly, and please dont be offended, If you need an 84 month (or 72 month for that matter loan) to be comfortable affording the car then the fact is you can't afford the car.

 

it wont take 7 years, it'll be paid off years before then, jus kinda nice to know that if timesget tough the monthly payment isnt that big

 

hmm i didnt ask, i should of,well i graduated last year tho...sooo...meh

 

the 84 month wasnt needed i jus wanted the payment lower, lower monthly minimum at i was still able with the 5 year loan....which i may go for when i do start the payments

 

on KBB i got 9500, soo its a 2007 corolla s, 72000k on the clock 5 spd, charcoal interior, moon roof, ac, rear spoiler, buch of other things listed, power windows n locks, one dent on the outside, it has a car fax repart saying a t bone accident, dunno where on the car where it was at tho iam the 3rd owner, some lil scratchs, here n there, a few scratchs on the interior....some how from previous owner, broken centerconsole door, a few plastic clips messed up,but u can barely tell, iam jus happy its gone before i ever have to hassle with doin a clutch job, eakk

 

I get that and it makes sense. I went with a 72 month so I can make balloon payments. If that's your plan its a good one, but I still refinanced after I got 12 months ahead. Saved me about 1500 over the life of the now 4 year loan.

I'm just saying to make sure the dealer is not screwing you while smiling at you. Let me guess, you discussed nervousness about your lack of credit and they said NOOO PROBLEM, people like you qualify, we'll give you 6% and its a great deal. they fed into your uncertainty with a typical sales tactic: reassurance. Finance guys are wolves in sheep's clothing.

With a 740 FICO you should be well below 4% through a credit union, bank, or maybe even TFS. Through the former you would probably closer to 2%.

Dealers love to piss on your leg and tell you it's raining.

 

If I remember correctly you had like 2 years after graduating. If you've already bought I'm not sure what they'd do? Cant hurt to try though.

 

refinance.....duh...i'll prolly do that, i didnt hassle with the car, may do it witht he truck, on;y reason i went for the current deal is, i got 3 months deferred payments, no payment til end of may, and of course hes smiling....its a new car sale, hes gettin paid either way u look at it, my credit has only been established...under 2 years...sooo a few TFS payments..a year, refinace to like 2% or less, get the truck, get the deferral, get rid of the corolla..( i drive too fast) and all is good !!!



ps..the new truck drives nice

 

LOL it worked, got em down another 1K

 

i may have been able to save more money......dam impatience.... but iam happy eitherway......correction....juiced is the appropriate word

 

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Shopping for a new truck can make/save you much more money than any job.

Example ... 4 hours shopping around for BEST price and BEST interest rate (NOT monthly payment) can easily save you $2,000.00 over 60 months.

That is $500.00 per hour for your time & effort. Shop them HARD and walk out if necessary and save yourself a ton of money.

Being impatient will cost you big time ... and sale people and dealers can smell that impatience too.
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