PebHmong Discussion Forum
General Category => General Discussion => Topic started by: Mr_Mechanic on July 10, 2018, 11:16:44 AM
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especially auto finance. looking to buy a 2018 Toyota Tacoma TRD Sport package and dealer sent me this after inquiring about it.
"The $36,576 is the MSRP on the Tacoma. Toyota is offering incentives now through 7/31/18. $1,000 cash back or 1.9% for 60 months. With 1.9% for 60 months our best price is $33,630. With the cash back rebate our best price is $32,629."
My credit is in the 800's. What are your thought on this? When it comes to finance, and I'll admit, I don't know much.
Thanks,
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Thats cheap. My brother in law bought a sport package/long bed 2 months ago for about $38k
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Man you guys are balling. I can't even afford a 20K car.
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especially auto finance. looking to buy a 2018 Toyota Tacoma TRD Sport package and dealer sent me this after inquiring about it.
"The $36,576 is the MSRP on the Tacoma. Toyota is offering incentives now through 7/31/18. $1,000 cash back or 1.9% for 60 months. With 1.9% for 60 months our best price is $33,630. With the cash back rebate our best price is $32,629."
My credit is in the 800's. What are your thought on this? When it comes to finance, and I'll admit, I don't know much.
Thanks,
Are you cashing out with the "$32,629" or still plan to finance that amount?
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It's simple....you WILL NEVER WIN!!!
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Are you cashing out with the "$32,629" or still plan to finance that amount?
i'll be financing it.
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i'll be financing it.
See if you can get a loan with lower interests on your own and do the lower amount...also depends if you putting money down too or not...and how much down...
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I've always view a vehicle as a mean to get from POINT A to POINT B and nothing more. If i can spend LESS, say (10K) for a car and still gets to my destination without hiccups....I'm FINE with a USED car. NOW don't get me wrong...buying a NEW car is MOST of our dream, it's just a matter of what your intention with the car you're going to use it for that justified you spending 38K???
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See if you can get a loan with lower interests on your own and do the lower amount...also depends if you putting money down too or not...and how much down...
yeah, I spoke with a local bank here and they say that they typically need 15% - 20% down for a car loan. which isn't a issue with me. but I pretty sure, i'll be able to get a lower APR with a bank versus going through the dealer. I guess my original question or question I have in mind is which choice is better.
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I've always view a vehicle as a mean to get from POINT A to POINT B and nothing more. If i can spend LESS, say (10K) for a car and still gets to my destination without hiccups....I'm FINE with a USED car. NOW don't get me wrong...buying a NEW car is MOST of our dream, it's just a matter of what your intention with the car you're going to use it for that justified you spending 38K???
and, you are right. that's what I think too. but, man, the dark side is kicking in.
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I used to sell Toyota but that was when I was a starving student.
Take that pencil and email all them other dealers to see what them internet managers can offer you then you use that lowest price to play games with them. Someone is going to earn your business especially it is a starving sales manager who needs to hit their numbers.
Don't let them use them other discounts to play games with you. In your case, work with $36.5 and go down. Once that number is established, them other stuff like apr and rebate n such will knock it down even further. If you finance, don't let the finance manager to add extra like rugs or mud flaps or tinted window to your pricing. With finance, you are also financing that rugs n extra which makes your $400 rug to become $800.
You can buy it later for $400.
A big mistake that consumers make is allowing the sales person to put you in any available color car n go on a test drive with it. You will end up buying a car in that color. You can request for a dealer trade. You may not get the car today but at least you got to get your choice of color. Remember that you are not buying a piece of candy. A big ticket item should be at your choice including everything with options. If the price is high and the car has other options you don't like, tell them to take it out. If they are like me, I want that sale so i say free tint window for you. Like how they gonna get tint window out know what I'm saying? Plus, if you don't mind slightly used, tell the sales guy to get you them floor mats from a similar vehicle on a used vehicle. It is in the back trunk. Get it for free.
And if you want a value, try to buy at invoice price. It is the price the dealer payed for. They then make the money off the rebate and other manufacturer incentives.
Hope that helps.
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I used to sell Toyota but that was when I was a starving student.
Take that pencil and email all them other dealers to see what them internet managers can offer you then you use that lowest price to play games with them. Someone is going to earn your business especially it is a starving sales manager who needs to hit their numbers.
Don't let them use them other discounts to play games with you. In your case, work with $36.5 and go down. Once that number is established, them other stuff like apr and rebate n such will knock it down even further. If you finance, don't let the finance manager to add extra like rugs or mud flaps or tinted window to your pricing. With finance, you are also financing that rugs n extra which makes your $400 rug to become $800.
You can buy it later for $400.
A big mistake that consumers make is allowing the sales person to put you in any available color car n go on a test drive with it. You will end up buying a car in that color. You can request for a dealer trade. You may not get the car today but at least you got to get your choice of color. Remember that you are not buying a piece of candy. A big ticket item should be at your choice including everything with options. If the price is high and the car has other options you don't like, tell them to take it out. If they are like me, I want that sale so i say free tint window for you. Like how they gonna get tint window out know what I'm saying? Plus, if you don't mind slightly used, tell the sales guy to get you them floor mats from a similar vehicle on a used vehicle. It is in the back trunk. Get it for free.
And if you want a value, try to buy at invoice price. It is the price the dealer payed for. They then make the money off the rebate and other manufacturer incentives.
Hope that helps.
Thanks. O0
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finance guy here..
just for simple math sake, and rounding
1.9% at $33,600 for 60 months= $1648 interest that you would be paying to your lender
better buy now
before the interest rate goes up even higher
so my advice
don't take the $1000 cashback
unless you can find a lower rate at the bank
going be hard to be 1.9% espcially with the interest rate going up
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Let me tell you how I am going to play games with you.
I can tell you whatever to see where you are at.
38k. I take 3 for 30% times by 38. The first three numbers, I will tell you that if you put 30% down, the bank can finance you with that 3 numbers as your monthly. Do you want to pay that amount per month or do you want to pay more? If you agree here, i already close my deal with you paying 38k the number I'm going to work with. Now that number will be high so you say you want to pay less per month. Ok, how much you want to pay per month? If you give me a reasonable number, I will close my deal with you financing the 38k.
Don't let them talk to you about the finance part. Attack them to lower down the 38k then talk about the finance part.
So many tricks I tell ya.
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Talk to the internet manager. You will get a figure that you can print out. Then you go talk to a starving sales guy and try to beat that. If unable, you still have your print out. The number on sales person is the internet manager. That fool gets big time customers from the internet so that fool never have to hustle for customer on the floor. That person is also a manager so they can give you a price. Sales people are middleman. They have no saying In the pricing so why do you want to do business with such person?
The best tool is to stand up and walk away if you feel pressured or they not being honest with you. That skills alone had me running to the fleet manager and tell them that my customer will walk, let's make a better offer and I go running after you for your terms.
Control is important. You let them control you, you will lose. Like after the test drive, the sales person will walk into the show room and you will follow them like a mindless zombie. It is a science and car dealership have put out big money to test out this science.
I wouldn't follow them. I will continue to go see other models. This shows you that you are the one in charge so either on your terms or you outta here.
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thanks, i'll keep that in mind.
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take the 1.9% versus the $1000 cash back if you are going to finance the vehicle... i agree with hmgrock, over the course of the loan, you'll save more...
i just checked my credit union and the auto loan is @ 3.99% apr... granted you have good credit which it sounds like you do... don't be so skeptic about dealerships... sure they may try to get you to tact on more things per what duma said but...
i have financed all of my, at the time brand new, toyotas through the dealership because i did my homework and toyota more often than not offer the best apr... my rav was zero interest through toyota...
my suggestion to you is to negotiate the "out the door price"... depending on where you live sales tax can be as high as 8 plus percent here where i live...
if it were me i'd counter with 34k out the door and financed at 1.9 apr for 60 months...
oh and to me gap insurance was important... gap insurance insures the difference of the value of your depreciated vehicle versus what you owe... have it for at least the very first year you own your new vehicle... after the first year you can call the dealership to have it removed...
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your looking at $550-600 monthly auto loan
not including car insurance
maybe $750 total for everythingl
for full coverage
lol
thats alot of drought for a truck
ask yourself if you can afford that
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your looking at $550-600 monthly auto loan
not including car insurance
maybe $750 total for everythingl
for full coverage
lol
thats alot of drought for a truck
ask yourself if you can afford that
just ask, and myself tells me. "YES".
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just ask, and myself tells me. "YES".
You probably got a good paying job
That’s usually a month worth of rent here in Wisconsin
Eating shrimp and lobster during the good time
Gotta be prepared for the rice and bean in the bad time
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finance guy here..
;D ;D ;D ;D ;D ;D
Didn't the OP already said, your "math is off"... ??? ;D ;D ;D
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lol
says the
$0.000002 guy
sorry but there no such thing has that
money don't go that far backkkk
learn to round
hahahah
Nope, never said that but not surprised that hmgFRAUD is making up "bogus lie"...With that said another PH member did point out his poor basic decimal skills. But instead of learn from it, he foams badly at the mouth...
All good though as that means more epic failure entertainment for me.. O0
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finance guy here..
just for simple math sake, and rounding
1.9% at $33,600 for 60 months= $1648 interest that you would be paying to your lender
better buy now
before the interest rate goes up even higher
so my advice
don't take the $1000 cashback
unless you can find a lower rate at the bank
going be hard to be 1.9% espcially with the interest rate going up
Don't you have to discount $1648 to today's dollar value to get a more accurate comparison? Math problems gives me headaches :-\ :-\
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Don't you have to discount $1648 to today's dollar value to get a more accurate comparison? Math problems gives me headaches :-\ :-\
not sure what you mean by discount.
what im saying is thats the total interest that you have to pay back along with the $33600 loan
here's a good visual i make
assuming that he take that $33,600 at 1.9% for 60 months
as you pay off your loan(principal) you start to pay less interest
cause you owe less now
hopefully this gives you a better visual.
(https://i.imgur.com/1CIMWIa.jpg)
(https://i.imgur.com/b80OLKQ.jpg)
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hey yall....
made this Excel worksheet to help you guys calcuate your loan
you can download the file here
enter your loan amount
interest percent
term 6- month=5 years
monthly payment on the first
https://ufile.io/vp06m
hope that help some of yall