Value of salvage title 350z?
12-14-2010, 09:58 PM
#21
your 'friend' sounds like a douchebag. he's using the typical sales tactic of YOU NEED TO DO THIS NOW IN ORDER TO GET THIS DEAL. don't let him push you into a rush decision, think this out and do your research.
isn't invoice on a wrx limited around 27,000? what trim level and options are you getting? find out what the invoice price for the vehicle you want is, NOT from your sales friend, from a forum, and aim for that or near it.
monthly payment is 100% irrelevant. what should be important to you is length of loan duration (longer loan = lower payments, more interest paid over the years..), total value of the trade in price, total cost of the car you want after taxes title and licensing, APR etc..
I'd also try to get a pre approval from a local credit union as opposed to using the dealership financing. not only are their rates and deals typically worse, but they can tack on to your APR and the dealership gets their cut of it.
why don't you take in someone experienced to look over what you are signing? there is a lot that is negotiable and all sales men are just looking out for themselves.
isn't invoice on a wrx limited around 27,000? what trim level and options are you getting? find out what the invoice price for the vehicle you want is, NOT from your sales friend, from a forum, and aim for that or near it.
monthly payment is 100% irrelevant. what should be important to you is length of loan duration (longer loan = lower payments, more interest paid over the years..), total value of the trade in price, total cost of the car you want after taxes title and licensing, APR etc..
I'd also try to get a pre approval from a local credit union as opposed to using the dealership financing. not only are their rates and deals typically worse, but they can tack on to your APR and the dealership gets their cut of it.
why don't you take in someone experienced to look over what you are signing? there is a lot that is negotiable and all sales men are just looking out for themselves.
Last edited by Entaille; 12-14-2010 at 10:01 PM.
12-14-2010, 10:13 PM
#22
Well according to Subaru.com the MSRP for a WRX Limited is $28,995.
Even if I get a longer loan, I can pay it off quicker by adding to my principal right?
Which is exactly what I would want to do. I want to pay it off asap.
What about trying to get financed through my bank, Wells Fargo? I work there and bank there. They give you a discount on the interest if you have the payments taken out of your WF checking account each month.
I don't know much about what I need to look for.
What would I put up front for the bank? The title for the WRX once they give me the loan (if they do)? I'm sure the Z's salvage title would mean nothing to them.
Even if I get a longer loan, I can pay it off quicker by adding to my principal right?
Which is exactly what I would want to do. I want to pay it off asap.
What about trying to get financed through my bank, Wells Fargo? I work there and bank there. They give you a discount on the interest if you have the payments taken out of your WF checking account each month.
I don't know much about what I need to look for.
What would I put up front for the bank? The title for the WRX once they give me the loan (if they do)? I'm sure the Z's salvage title would mean nothing to them.
12-14-2010, 10:29 PM
#23
MSRP means little these days. smart buyers are leveraging dealer cost invoice pricing and any applicable discounts. it's worth your time to hop on some subie forums / google up the invoice pricing, and look for any current offers/discounts to stack on top, and use that info to negotiate.
if you take an auto loan, you don't own the car until the loan is paid in full.
you can definitely pay a loan off faster and add straight to the principal and avoid paying interest. compare your works' apr with a local credit union, they are tough to beat. just avoid going through the dealership.
don't let your friend take advantage of you. he said it himself, he gets a 7000$ paycheck if he works this deal with you. he has a lot of motivation to make this happen.. so get the best price possible!
if you take an auto loan, you don't own the car until the loan is paid in full.
you can definitely pay a loan off faster and add straight to the principal and avoid paying interest. compare your works' apr with a local credit union, they are tough to beat. just avoid going through the dealership.
don't let your friend take advantage of you. he said it himself, he gets a 7000$ paycheck if he works this deal with you. he has a lot of motivation to make this happen.. so get the best price possible!
12-15-2010, 05:46 AM
#25
I got my Z thru wells Fargo as whom I bank thru and I got no deal what's so ever. Ur friend is helping u. If he is willing to give u 11k for a Z that has a salvaged title then go for it!! I know of Z's with 100,000+ miles selling for lower than that. Of I were in ur shoes I would go for it just because ur getting rid of the Z for such a good price
12-15-2010, 02:14 PM
#28
UMMMMMMMMMMMMM
I talked to the sales man (my MMA trainer once again) and he said that even if it's a salvaged car, he said he'll give me 11k for it. As long as I trade it in and get the WRX tomorrow. I told him I don't think his manager will let him give me that much for a salvage title... and he said "bet" and he shook my hand.
o.O
He said that all that matters to them right now is buying my Z so they can sell it to the person that already wants it (even if it means taking a small loss because it's salvaged), and sell the WRX to me.
Even one of the other sales men wanted to buy my car.
Victor (the salesman), said that if he sold these two cars (WRX and my Z) that he would get a 7k paycheck this month.
..and he would also trade in his Expedition and get himself a WRX lol.
So... what do you guys think? Should I go for it?
So far it's looking like $289/month at 4.9%.
I'm scared... I've never bought a car at a dealership before.
I talked to the sales man (my MMA trainer once again) and he said that even if it's a salvaged car, he said he'll give me 11k for it. As long as I trade it in and get the WRX tomorrow. I told him I don't think his manager will let him give me that much for a salvage title... and he said "bet" and he shook my hand.
o.O
He said that all that matters to them right now is buying my Z so they can sell it to the person that already wants it (even if it means taking a small loss because it's salvaged), and sell the WRX to me.
Even one of the other sales men wanted to buy my car.
Victor (the salesman), said that if he sold these two cars (WRX and my Z) that he would get a 7k paycheck this month.
..and he would also trade in his Expedition and get himself a WRX lol.
So... what do you guys think? Should I go for it?
So far it's looking like $289/month at 4.9%.
I'm scared... I've never bought a car at a dealership before.
With respect I do not see this happening.
12-15-2010, 02:32 PM
#29
Hell, they might just give you 30k for your car... but now the subaru is 50k. That's how trade-ins work.
Typically, you can sell a car more to a private buyer... but if you're okay with the dealership effectively giving you less money and less hassle, it might be worth it. It can be a pain to sell a car privately... but sometimes the money is worth it... sometimes it's not. It's just up to you.
12-15-2010, 10:22 PM
#36
Super Moderator
MY350Z.COM
MY350Z.COM
iTrader: (8)
How many month loan?
