I got a call from the stealership tthe salesmen that hooked me up told me he could set me up in a newer G with a new warranty for about a 50 dollar difference in my monthly payment
Im curently in a Base 05 G35x with about 89k miles on it , He was offering an 07 G35x with every option Technology package , Music Box Navi all this stuf has about 50k on it the warranty is the 100k mile warranty . He didnt quite make the $50 amont its more like 75 but he threw in major maintenance at 60k and 90k and will have the afttemarket Ipod adapter instal;led USA -spec! Loan terms are 5 years at 409 per month .
Should i do this or not ? I have until thursday to finalize the deal
Also more about the 07 its midnight blue and the window are already tinted !

 

Seems to be that in that deal you get nothing for the car you currently have and are paying on the high side of pricing for '07's. I wouldn't do it.

 

Youre right in that aspect im upsoide down on my current car I think the BB on my 05 is like 9300 i owe 14k, they are giving me a trade in value of 12220 for mine and adding the difference to my new loan. Iwas really hype at first but after sleeping on it Im just confused as all outdoors!!

 

For $409 per month, you can have a car worth up to $22,500 at 3.5%.

So if they add the difference you owe to the new loan, you're paying $20,700 or so for the new car.

How the hell do you have a BB of 9300 and owe 14, on a 6 year old car? How did this salesman "hook you up?"

You need to take someone who's done this a few times into the dealership with you.

 

I only had the car for like 18 months , when i bought the car , it was the car i wanted but my honda was dead so i had no choice .

Im asking the question as Im unsure of what to do at this point.
Thanks for the criticism i appreciate it , but any knowledge you have on the matter would be more appreciated. If im looking at this deal the wrong way id like to know b4 i finalize my decision

 

Your sentence structure isn;'t good, so let me see if I understand you...

Your Honda died. So you went to a dealer and bought a $10,000 car for $15,000?

Now he wants to upgrade you to another G35 for a price of $20k or $21k?

While he may SEEM to be hooking you up, and it may actually be better for you on loan/value ratio, he's just trying to make a sale. I see no hook up, no special treatment, nothing.

First, how much a month can you AFFORD to pay? Be realistic, keep money for personal fun, etc.

Second, how's your credit?

Third, what are the terms of the loan you have RIGHT NOW?

Fourth, what is the BB on the new car you want, the 2007? VIN?

That';s a start.

My gut tells me you don't need a more expensive car or payment at this point, but I am disgusted at the salesman for selling you a car worth so little for so much.

 

Ok...
My curent g35x
No options except for moonroof
They took my trade in on the honda gave me 2700 for it
Loan terms were 339 for 72 months
I have exactly 4 years and 9 month of payments left on t

The potential new 2007 g35x
Fully optioned everything technology pack and premium packacage
Free service up to 90 k
They will pay for the ipod intergration
Also 100,000 mile Warranty
They offered 12220 trade in on my current vehicle
Terms are 409 for 66 months no down payment

 

First, I don't hate being a dick, but I'm trying to phrase this politely...

PAY THE **** ATTENTION TO THE DETAILS!!!!!!

You're not getting $409 for 5 years, it's 66 months! $2400+ on TOP OF!

Sorry, but it's these seemingly little things that really **** you in the *** and turn a decent deal into a heartbreaker.

Gimme a sec...

Also, give me the VALUE of the new 2007. The price the dealer is claiming it's worth, that's your starting point.

 

According to KBB the retail value is 24,7XX

 

I need the value to calculate the interest rate they are charging you, because car loan rates are in the 2.9 to 3.5% range with good credit.

 

That just tells us whether we're getting something of a good value for our money.

We need to know EXACTLY how much you're borrowing from the dealer, a bank, or whoever.

KBB is a subjective valuation. The amount you borrow is hard, fast, and can be taken out of your *** by a court of law.

 

Also, if you have 57 months left on the 2005, at $339 per month, that's $19,323 in payments. Subtract out what you owe of $14,000 and that's $5,323 in interest.

Something isn't right. What's the interest rate on your current loan? And what was the amount borrowed?

 

My interest rate is high as my credit is not excellent
Its 11.2 on my current loan

 

I would get the dealer down on price a little bit so it's at 400 a month and prolly go for it, the 07 is a better car.

 

The pieces of this puzzle are what I don't understand.

At 11.2%, a monthly payment of $339 for 72 months equates to $17,750 borrowed. Did you agree to this price for your 2005?

I have no idea what a 2007 G35x is worth, I'm just trying to give you the information so you can make your own decision, now and in the future.

What rate are they giving you for the 2007?

If you use 11.2% again, hopefully you won't, but if you do, $409 for 66 months works out to borrowing $20,000.

If the rate stays the same, a shorter term is better.

The 2007 for that price is better than the 2005 for it's price. They bent you over on the 2005.