I just purchased a 2005 SB, Base lastnite(sunday 12/05). I'm a bit nervous about the deal instead of being exciting about the car. This is the story.
We agreed on the price of $27,400 OTD. Then they checked my credit which returned with a 728 beacon score. With $8,000 down, we agreed on 4.29% APR of interest. So the finance guy came out with a CONTRACT of purchase(you know that long **** form). When I saw the contract, I asked the guy if my finance has been APPROVED yet, then he was like '"hmmmm it should be....blah blah"' So i got suspecious and said, I am not gonna sign the contract unless my finance is finalized with the APPROVED of 4.29% APR. so the finance guy said "alrite, let me go and submit the application". He gave me an excuse that the dealer usually submit the app. the next day, that way the customer doesn't have to wait for too long. So anyway, I waited for about 20 mins, and he came out and said my finance is finallized and I am getting 4.29% APR as we agreed. On the CONTRACT, I even saw the interest rate of 4.29% APR typed. So I closed the deal, and drove the car home. But somehow, in the back of my head, I am still worried that the dealer can still call me back and told me that I can't get the 4.29%.
So my question is with 4.29%APR printed on the contract, can the dealer still jack up the interest rate by calling me back,and saying that I am not approved for some reason? or is it a done deal now??? please reply if you have some knowlege, in the mean time i am trying to enjoy my new baby. Thanks guys

-Kewlii

 

I've heard that some will try to do that but it's a scam. If they do I'd refuse to sign a new contract and tell them they can have the car back. You could easily go elsewhere with a credit score like that.

 

With a beacon score over 700 you could get better rates than the dealers without trying very hard. As long as you have the contract in which you signed and the dealer signed your rate will not very.

 

A dealer tried to do the same to me, I told them I would give the keys back because I was not going to pay a higher monthly rate. They eventually ate the price and gave me the original price.

 

So what if they lied to you and try to change the interest rate. You can always refinance the car through another lending institution at a lower rate. Now, if it was 0% or 1.9% financing I can certainly understand the concern.

 

If it's written on the contract then they can't change the rate on you. If they reprint a new contract, don't sign it. You agreed to what's on the original contract. Instead, just ask them to rescind the deal. Then go to another dealer and get another Z.

And refinancing through another lender is always a good idea. Dealers almost never have the best rates (although 4.x% is pretty good).

 

I thought people were saying you could get 2% from Nissan right now.

 

Your fine. I doubt the will try and raise the rate on you. What the dealership will do is shop your contract around to the different lending companies to see who will buy it from them. With your credit score you have no worries.

 

I did shopped around for a better interest rate before i went to the dealer, but believe it or not, I couldn't find any bank that offered me a lower APR than 5.99%. I check with Bank of America, Credits Union, and some regional banks here in Tampa, FL. so 4.29% is the best rate I could have.
But thanks for the assurance guys, now I can stop thinking about the dealer tyring to pull my leg.

 

You're good to go. A contract is a contract. Think about it. If they change the deal and you refuse to sign the contract what will happen? They wouldn't let you off the lot if they couldn't get you approved. And for sure they don't want to take that car back. Just enjoy the ride.

 

As a finance manager for a Nissan Dealer I can tell you that 9 times out of ten you will sign a conditional delivery agreement form and that protects the dealer and you. If anything changes neither party has to agree on new terms. Also remember that your score is only part of the picture. I've had many 700+ customers. The credit officer looks at many things on the loan not just score alone. We would never put someone in a Z with out knowing for sure we could hang the paper so don't worry about it.

 

.

CJ2,

Wasssupp,
I am a Finance Director at a Nissan dealer as well.. How many requests have you gotten for the 2.0% on 04z's? Man i wish nissan would not ***** out the Rates. Also just like the new Pathfinder AD lease, Makes me sick. Nissan should be proud of the HOT new product that is out, and discount like the Big 3's ya know! Anyway just checking to see what your desk managers do about that.

take care

chris

 

We just got 2% on an 04 Track.

 

i think it should be fine...but u always have the opiton of refinancing. i am sure you can find a better rate than what nissan gave you.

 

try going to other dealers, for some reason my dad financed his 03 S500 through acura they have him an interest rate of under 2%, also ive heard good things about costcos financing department . if u have a costco in ur area try goign there or u can go online... just another option

 

Hey Chris, Yes the SM love giving that low rate. How am I going to make my Z payment with those flat's from NMAC, lol.

 

Nice roadster Mine's stock...I'm jealous.

 

Car dealer lie to you....naw!!!! Those fudkers lie all the time to make the sale

 

KingTut....CJ2pilot...DragonGcoupe....You guys are absolutely correct wtih the 2% financing on '05 Z's. kewlii.... you should not worry. I don't believe your dealer is going to change anything. Because you can throw back to them about the 2% financing from Nissan. lol

 

damn....I wished you guys posted the 2% APR on 2005 Z a few days ago. I thought you could only get 2% on the 2004. Now I am really pissed. damn......I need to drive the Z to cool me down now lol