Dante Posted January 30, 2014 Share Posted January 30, 2014 When I've owned pick ups they have always been Ford. Never any problems. Link to comment Share on other sites More sharing options...
mrags Posted February 19, 2014 Author Share Posted February 19, 2014 Hey guys. Update in this. New trucks are just way too damn much for me right now. Started looking at used. Ended up finding: 2011 Chevy Acalanche LT With leather heated seats, tow package, moonroof, step bars, remote start, and color matched plastics. 39k miles. They were asking 30,900. Buyout on my Mercedes is 5,745. They offered to get me in the 2s for financing and 425 over 75 months. After paying off my car and using 1,000 down Payment. What you guys think about this? Originally they came at me with 499/mo but I said no. They barely let me leave the store. Said I'd call them tomorrow to let them know. They offer a 4yr, 48k mile extended bumper to bumper for 2,400. I thought about telling them to throw that in and it's a deal. What you guys think? Thanks Link to comment Share on other sites More sharing options...
mead107 Posted February 19, 2014 Share Posted February 19, 2014 what was the price on it new? Link to comment Share on other sites More sharing options...
Alaska Darin Posted February 19, 2014 Share Posted February 19, 2014 Hey guys. Update in this. New trucks are just way too damn much for me right now. Started looking at used. Ended up finding: 2011 Chevy Acalanche LT With leather heated seats, tow package, moonroof, step bars, remote start, and color matched plastics. 39k miles. They were asking 30,900. Buyout on my Mercedes is 5,745. They offered to get me in the 2s for financing and 425 over 75 months. After paying off my car and using 1,000 down Payment. What you guys think about this? Originally they came at me with 499/mo but I said no. They barely let me leave the store. Said I'd call them tomorrow to let them know. They offer a 4yr, 48k mile extended bumper to bumper for 2,400. I thought about telling them to throw that in and it's a deal. What you guys think? Thanks The only thing that matters is the price of the car. What's the price of the car? You negotiate that and only that until it's settled. I don't think I'd finance a used vehicle for 75 months unless I was planning on keeping it that long. You're going to spend a loooooooooooooooooooooooooong time upside down. Link to comment Share on other sites More sharing options...
Guffalo Posted February 19, 2014 Share Posted February 19, 2014 Ok, I am not an accountant, but with my limited mathematical abilities I did a few quick calculations: Assuming you get a 4% rate (i'm guessing it would be higher) And they price it around 25K You pay 6250 in interest for a loan on the 25K Total payments 75 payments at 425 per month = 31,875 This does not include whatever is going on with the Mercedes. My humble suggestion, get out of the dealership and get yourself a loan through a bank/credit union. Then go and negotiate the deal on a truck you like. They are making money on the car as well as on the financing, they will work those numbers any way they can yo get you to bite on the car and financing. Link to comment Share on other sites More sharing options...
mead107 Posted February 19, 2014 Share Posted February 19, 2014 I got 1.81 % rate on my truck. I would go new truck. Your talking a 4 year old truck. Link to comment Share on other sites More sharing options...
drinkTHEkoolaid Posted February 19, 2014 Share Posted February 19, 2014 Never tell a car salesman what you are looking to pay per month. Just stick to negotiate the price of vehicle as low as possible. Then after that negotiate your trade in. For finances you may have Better luck to secure a loan on your own with a credit union for s very low rate. I refinanced my vehicle (was only 3months old at the time ) with a credit union to 1.75% which saved me money When you have negotiated your best possible deal and run the monthly payment numbers either you can swing it in your budget or not. Maybe they make one last ditch effort to sweeten the pot Link to comment Share on other sites More sharing options...
Gugny Posted February 19, 2014 Share Posted February 19, 2014 I don't know why you just don't get another Miata. Link to comment Share on other sites More sharing options...
drinkTHEkoolaid Posted February 20, 2014 Share Posted February 20, 2014 I got 1.81 % rate on my truck. I would go new truck. Your talking a 4 year old truck. between incentives and good financing a new vehicle usually ends up a better deal. At least with new if you have to take s loan for 66-72 months you will be the only owner snd will maintain it properly snd being new will have factory warranty and last longer. So longer financing usually works out ok with a new vehicle compared to used with like 60 months Link to comment Share on other sites More sharing options...
Maury Ballstein Posted February 20, 2014 Share Posted February 20, 2014 Tell them you know microscopes. The biggest Van guy in town. Should get that 30k down to 26k in no time. I'd haggle a bit more and see if they can come down. Link to comment Share on other sites More sharing options...
boyst Posted February 20, 2014 Share Posted February 20, 2014 Something does not seem right about all of that. When I found my truck I searched and searched. There is no reason that time should be rushed when finding the right vehicle because it is a major investment. That you are already in the pitch with month-to-month payment plan on the table it makes it more difficult. If you know Y and Z but do not know X what does it matter how low Y or Z are - or... If you go in to this knowing you're going to pay $400/month why not talk them down to the lowest price you can on the vehicle then make them work to adjust the monthly payments? If they jack it up $1,600 because of a month-to-month payment plan you'll end up paying 4 extra months and whatever interest becomes. I'm glad I bought my truck with cash. Ok, I am not an accountant, but with my limited mathematical abilities I did a few quick calculations: Assuming you get a 4% rate (i'm guessing it would be higher) And they price it around 25K You pay 6250 in interest for a loan on the 25K Total payments 75 payments at 425 per month = 31,875 This does not include whatever is going on with the Mercedes. My humble suggestion, get out of the dealership and get yourself a loan through a bank/credit union. Then go and negotiate the deal on a truck you like. They are making money on the car as well as on the financing, they will work those numbers any way they can yo get you to bite on the car and financing. Thanks for doing the math, saved me from doing it. It makes it a little more clear. I would have ended up with a remainder and the train getting to the station at 5:16 central time. Tell them you know microscopes. The biggest Van guy in town. Should get that 30k down to 26k in no time. I'd haggle a bit more and see if they can come down. i laughed audibly. Link to comment Share on other sites More sharing options...
mrags Posted February 20, 2014 Author Share Posted February 20, 2014 Thanks for all the help guys. So a little bit of info here. The procing at 499/mo was at 5% interest. When I took the truck back this morning they wondered what they could do to sweeten the pot. I told then 500/mo was just way too much. I said if 500 was uncomfortable for me, then 450 ain't going to be any better (what's 50 bucks really?). They took a gander at me, said they could get me locked in, in the 2-3% range for the truck and offered me $1,300 over payoff amount on my trade in to get me to 425/mo. I did the math online last night to see what the difference between 5% and 2.1% (a rate that I can achieve through a credit union that I am available to join) and it was only saving me $40/mo. Which would have come down to 460. So they're eating more to get me to that 425 by offering extra In my trade to get me there. I know you should always negotiate the price of the vehicle first and then go from there. A few things... My cousin who works for Chevy Basil has informed me that prices on the Internet now days are generally as low as they offer. Internet procing is always lower than what vehicles are listed for out on the lot. With that said, the $30,900 for the truck is $3k below suggested retail. The sales manager I formed me they are only making 700 off the sale of the truck (not sure if I believe that, but either way, according to NADA.com, the suggested retail is 33-34k). Another thing is that I am in need of a vehicle. My Mercedes has 127k miles on her. New calipers, pads and rotors need to be replaced in the front. New fuel pump. The EBrake needs to be looked at. Door handles and small things are starting to brake. And since the weather has been bitter cold, she is having troubles turning over of she's been sitting for more than 5-6 hours (which is not the battery because I already replaced that). So it's spend about $1,000 (I get parts at cost and a buddy installs for a case of beer) in repairs that are 100% needed right now, or use that for a down pmnt on this truck. Not sure if that paints the picture a little more for you guys. I love the truck and I already know that a new Sierra or Ford F150 (a model that I'd actually be happy with anyway) will run me close to 600/mo. I've also already had my car appraised at Basil and they offered me 5k for it as opposed to the 7k that Transitowne offered me. Just seems like a no brainer that I'm getting an additional 2k for my car that honestly won't sell for what I owe on it. Link to comment Share on other sites More sharing options...
mead107 Posted February 20, 2014 Share Posted February 20, 2014 When the person traded in the avalanche more than likely they only gave him 25-27 for it. What matters is - if you are happy with the numbers then pull the trigger and enjoy the truck. Link to comment Share on other sites More sharing options...
mrags Posted February 20, 2014 Author Share Posted February 20, 2014 When the person traded in the avalanche more than likely they only gave him 25-27 for it. What matters is - if you are happy with the numbers then pull the trigger and enjoy the truck. yeah. Thanks Mead. It I get this thing today, pulled pork for everybody on opening day is on me. Link to comment Share on other sites More sharing options...
mead107 Posted February 20, 2014 Share Posted February 20, 2014 That sounds good Link to comment Share on other sites More sharing options...
mrags Posted February 20, 2014 Author Share Posted February 20, 2014 Well, she's mine everyone. Pulled pork all around. Just wrapping up the financials now. Looking forward to my first tailgate party with her. http://m.autotrader.com/cars-for-sale/vehicleDetails.xhtml?listingId=357100619&numRecords=2&firstRecord=1&zip=14227 Link to comment Share on other sites More sharing options...
stuckinny Posted February 20, 2014 Share Posted February 20, 2014 Well I can agree somewhat the internet has changed the car market on used cars as you no longer have to drive to different lots looking at specs. Though I don't believe that is their best price, it is low but not their lowest. I have always gotten them to take less. I drive an 03 Avalanche and bout it in 07 for 17250. Not as loaded as the one you are looking at and more miles. but i also bought at the height of the Gas prices which helped a gas guzzler like that. ALso remember you are now gonna be spending $100 + to fill the thing. So don't over extend yourself. They are nice trucks and because they are discountinuing it next year not sure that makes htem more valuable or not? Link to comment Share on other sites More sharing options...
mrags Posted February 20, 2014 Author Share Posted February 20, 2014 Scratch that all guys. Not a done deal yet. Financing not getting me the 2.9% they promised. Gonna have to go to the credit union tomorrow. Link to comment Share on other sites More sharing options...
plenzmd1 Posted February 20, 2014 Share Posted February 20, 2014 Good luck mrags on getting the financing. I know how attached we can get to buying things. People hate to be sold things, but damn we love to buy things no? I know this ship has sailed, but if it were me, I would spend the money and get the Benz fixed. I am assuming it is paid off. So lets double repair bill to $2k.That is 4 months payment on the new truck. And shoot, with only 120K miles should have several more years in her(depends on condition i guess) I tend to buy used cars, usually around 2 years old coming off programs, and keep them forever . I currently drive a 2007 Yukon with 165K miles. She takes about $700 a year to maintain/ repair..i look it it as having one payment a year vs 11. Anyways, thats the old man in me...I still think $20K is expensive for a car LOL Link to comment Share on other sites More sharing options...
mrags Posted February 20, 2014 Author Share Posted February 20, 2014 Good luck mrags on getting the financing. I know how attached we can get to buying things. People hate to be sold things, but damn we love to buy things no? I know this ship has sailed, but if it were me, I would spend the money and get the Benz fixed. I am assuming it is paid off. So lets double repair bill to $2k.That is 4 months payment on the new truck. And shoot, with only 120K miles should have several more years in her(depends on condition i guess) I tend to buy used cars, usually around 2 years old coming off programs, and keep them forever . I currently drive a 2007 Yukon with 165K miles. She takes about $700 a year to maintain/ repair..i look it it as having one payment a year vs 11. Anyways, thats the old man in me...I still think $20K is expensive for a car LOL thanks bud. My Benz is not paid off. I owe almost 2 more years of Payments on her. 260/mo until the balance of 5,747 is paid off. In top of that, my repair costs the last year and a half have averaged our to about 2k a year. That includes fresh tires every single winter (because my tires are staggered and I cannot rotate them, and the amount of miles I drive a year, around 18,000). The Basil dealership offered me 5k for a trade in on my car. Transitowne has offered me 7,100. Not sure I can even think about a better deal than that. Getting rid of my payment completely and getting rid of my repair costs and tire costs which come out to an average of 166.00/month in addition to my monthly payment. Link to comment Share on other sites More sharing options...
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