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Discussion Starter #1
But the financing manager tried to screw me over.

My salesman seemed to be a pretty nice guy, and I was able to knock about $1500 off the price of a fully loaded, slick looking, awesome handling, Sentra SE in Radium. Granted, his Sales Manager turned this down at first, but when I showed him my quote from Cars Direct he changed his tune! :)

Unfortunately, things didn't go so hot in financing. First, he said I didn't have enough credit and could only qualify for 10% APR. My response was: "10%? No f*cking way!"

But even if get someone to co-sign with me, the best he said he could do was 6.9%. This infuriated me, because I am pretty sure that Nissan is offering 5.9% for 60 months until the end of April. I've seen this posted on various websites, and I've confirmed this with another Nissan dealer.

So after spending over 3 hours at the Dealer, I left without a car. I'm pretty bummed! :(

And pretty drained... I think I'll go to bed.

Torajima
 

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Aww man, I'm sorry that you had a hard time with your purchase! I'll tell you, I had three dealerships promising me all sorts of cars at really cheap prices, but come to find out, none of the dealerships actually had a VIN number of those vehicles and that it wasn't even in inventory!!

I finally settled with a dealership that wasn't hiding any BS. I also ended up paying a little more, but for something more tangible. :) Just take your time, and who do you bank with? Isn't there a 1-800 Nissan number to call to ask about the incentives at the moment??

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Marvin, aka Original Mr Sentra
2000 Nissan Sentra SE w/Performance Package, Sunroof, 5 spd, Avalanche
Current Mods: Gas Cap Holder, Stromung Cat Back Exhaust System, Place Racing Cold Air Intake
 

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If your credit isn't good, you've no chance at getting approved at the really good rates.

Do you feel confident in your ability to get financing through another lender at lower than 6.9%. Did the financing manager give you problems, or NMAC? If it was NMAC, good luck as another dealership will most likely not be able to help you.

Case in point: I was originally declined for any financing, then approved at 14.9%, then finially at 6.9%. I knew I was pushing my look and didn't even thing of pursuing the 3.9% that was being offered.

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2000 SE w/ PP auto in Heatwave

 

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Discussion Starter #4
People wrote:

>Isn't there a 1-800 Nissan number to
>call to ask about the incentives at the
>moment??

Yeah, I tried that. But all she'd tell me is "check your local dealer". Problem is, I've got two different dealers telling me two different things.

>If your credit isn't good, you've no chance
>at getting approved at the really good
>rates.

Well I certaintly don't have bad credit (I've never missed a payment), they're just telling me I don't have enough credit, since I don't own a house and haven't financed a car before.

Torajima
 

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Financing is the biggest rip off of them all. They screwed me over @ 7.9% for 60 mos. I don't have bad credit, I just don't have that much. The only thing I had was a credit card and a school loan which I was paying on for over 14 mos. at the time. On top of that they wouldn't let me get it unless my dad co-signed.
 

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Holy crap... $1500?? that's how much the mark up is. Wow.
6.9% is okay... not bad, trust me. 10 is just ridiculous.
I will shop around until I can find someone lower, but I doubt it. I'll stick with the 6.9% if I were you after doing more research. This Credit stuff, you can't do much about it... only time can change all that.


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Jay
1997 Honda Prelude Type S
Getting a Sentra SE Sport soon! 2 more months
 

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Discussion Starter #7
>Holy crap... $1500?? that's how much
>the mark up is. Wow.

I came prepared! :)

I had the printout from edmunds.com with the "True Market Value" as well as a price quote from Cars Direct.

The MSRP was supposed to be $17,016, but the Dealer inflated that price with yet another anti-theft device (I mean geez, it already has a car alarm and the Vehicle Immobilizer System, what more does it need?). So their MSRP was around $17,500. I got them to come down to about $16,000, which was more than Edmund's "True Market Value", but exactly the price quoted by Cars Direct.

If that extra security device hadn't been on the car, I probably could have gotten it for a few hundred less.

>6.9% is okay... not bad, trust me.
>10 is just ridiculous.

Yeah, I'll go with 6.9% if I have too, but first I'll visit the Dealer that's offering 5.9%.

But if I can't get it any cheaper than 10%, well, I just lease a d*mn car.

Torajima
 

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you may not have bad credit but if you don't have much at all you a kind of screwed. Nissan won't give you better than 6.9% on a 60 month loan even with stellar credit. That is just the way it works.

doc
 

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If you want the lowest possible prices, go through the internet sales or fleet department at your local dealer. For a sentra, you should be able to get at least 500 below invoice. As for extra stuff on the car that it wasn't originally equipped with, just tell the dealer to take it out or that you won't pay for something that they added just to hike the price up some more. It's so easy to get dealers to take off the price of added crap like that. in Arizona we have to deal with dealers adding stupid paint protection crap because the sun klills the paint. This would be ok if it was 20 years ago and paint jobs weren't the best, but now they come super protected from the factory. Don't let them screw you on price. As for financing, there isn't much you can do. If you were offered 6.9, take it. That really isn't bad. My credit union right now has higher rates, so it's a lot better deal.

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FrontierBoy
*Currently have a 2000 Frontier KC 4x2 5spd.*
Soon to have a 2001 Sentra SE 5spd. Blackout w/PP and Sunroof.
 

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<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Dr. Mario:
you may not have bad credit but if you don't have much at all you a kind of screwed. Nissan won't give you better than 6.9% on a 60 month loan even with stellar credit. That is just the way it works.

doc
<HR></BLOCKQUOTE>

Yeah, I see where doc is coming from. I've got pretty great credit for being 23, and through Navy Federal Credit Union, I got 7.75 percent for 60 months. If I went with 48 months, it would have been 7 percent. I think I got a good deal for being my first major purchase. :)




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Marvin, aka Original Mr Sentra
2000 Nissan Sentra SE w/Performance Package, Sunroof, 5 spd, Avalanche
Current Mods: Gas Cap Holder, Stromung Cat Back Exhaust System, Place Racing Cold Air Intake
 

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That all depends.. if it's year end.. they help out too. The 2000 SE Auto I got 60 month 3.9 APR with my mom cosigning..but shes got a credit history (no joke) 10-15 pages long. Having debt kills you.. but at 3.9.. its cool... my payments are bout 300 and change
 

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Dude, 6.9% is not bad at all for someone with no credit. And I don't mean a credit card or anything like that. If you never bought a car or anything big like that in the past, you're not going to have an A+ credit rating.

Also, did you calculate the actualy difference between a 6.9% and 5.9% finance rate? It's hardly anything. I think that you should've taken it. It's such a sweet car.
 

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Discussion Starter #13
>Dude, 6.9% is not bad at all for someone >with no credit.

They offered me 10%, not 6.9%. They said I *might* qualify for 6.9% if I got my father to co-sign with me. I'd really rather not do that, but if that's what it takes then so be it.

>Also, did you calculate the actualy >difference between a 6.9% and 5.9% finance >rate? It's hardly anything.

It's $10 more a month than I can afford. And it's around $600 extra in interest. That may be hardly anything to you, but it means a lot to me! :)

>I think that you should've taken it. It's
>such a sweet car.

Well, there's another local Dealer offering 5.9%, so I'll probably visit them next.

Torajima
 

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Here's a thought for everyone:

My older bro, he's 19 now, bought a 98 Kia Sephia LS last year (first car) and *brace yourselves* his interest rate is 20.3%. I saw the sales contract with my own eyes...he was determined to get his first car on his own. His loss I guess. hehe
 

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<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>My older bro, he's 19 now, bought a 98 Kia Sephia LS last year (first car) and *brace yourselves* his interest rate is 20.3%. I saw the sales contract with my own eyes...he was determined to get his first car on his own. His loss I guess. hehe<HR></BLOCKQUOTE>

HOLY CRAP! What a rip-off! He might as well bought the car on a damn VISA card!



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2001 SE 5-spd. w/PP Granite

Minor cosmetic mods....
HID-look headlamps & hyperwhite fogs. Autozone rubber antenna, blue aluminum valve stem caps. (not much...but it's a start!)
Lots of mods planned...waiting for the $$$$$$$$$$$$$$$$$!
 

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<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Torajima:
>Dude, 6.9% is not bad at all for someone >with no credit.

They offered me 10%, not 6.9%. They said I *might* qualify for 6.9% if I got my father to co-sign with me. I'd really rather not do that, but if that's what it takes then so be it.

>Also, did you calculate the actualy >difference between a 6.9% and 5.9% finance >rate? It's hardly anything.

It's $10 more a month than I can afford. And it's around $600 extra in interest. That may be hardly anything to you, but it means a lot to me! :)

>I think that you should've taken it. It's
>such a sweet car.

Well, there's another local Dealer offering 5.9%, so I'll probably visit them next.

Torajima
<HR></BLOCKQUOTE>

When your talking $300/month payments, is $10 that much more? I mean, if even at 5.9% your right at your budget and it's a tight squeeze, 6.9% isn't going to break you.


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2000 SE w/ PP auto in Heatwave

 

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Discussion Starter #17
>When your talking $300/month
>payments, is $10 that much more? I
>mean, if even at 5.9% your right at your
>budget and it's a tight squeeze, 6.9%
>isn't going to break you.

$300 a month? I can't afford that! :p
I was shooting for $250/month. 5.9% gets me around $260, so I'm already $10 over my "limit". 6.9% puts me over $270.

Of course, today I decided to test drive the Mazda Protege, since Mazda is offering 4.9% financing, and I figured that would be a savings of $1200 in interest (and about $40 less a month).

But guess what? I think I'd rather pay the extra $1200! :D

Torajima
 

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What kind of a down payment are you making? At 6.9% for 5 years and 17k financed, I'm paying $358.21 a month.

The Protege's are nice cars, and I've read that the Madza dealerships are more willing to deal with you on the price.

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2000 SE w/ PP auto in Heatwave

 

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I put down 1,500 and pay 240 a month for my 2001 gxe on the five year plan.

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My 95 Sentra is my first car payment. I am paying like 20% also. At least it will be paid for by January. This damn car is costing my $22000 total (like $8000 in interest). I didn't care either because I needed a car and it has paid for itself in a year (since I make $22,000 a year) and without the car I would not have the job. Plus when the car is paid for then I know I will be able to get a much lower interest rate if I were to buy another car. Sometimes you gotta do what you gotta do to move up.

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1995 Nissan Sentra XE w/99 Grill
 
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