hey guys, im going to pick up the 07 black/black sport. premium, with navi. for an otd price of $42,000. opinions on the price? and financing it with no down. I dont know if this sounds correct but at 9.99% interest /72month the finance charge is $13,000. does this look about right? because the whole dam sale price now becomes $55,000 it would be around $720 a month. any ideas if im getting rocked because to me this just doesnt seem very correct.

 

the otd price sound good...the interest is going to eat you alive for 72 months dood...how is your credit??

 

If I use the Edmunds loan calculator I get a monthly payment of $777.87.

This is with an OTD price of $42,000 with an interest rate of 9.99 for 72 months.

$777.87 X 72 =$56,006.64. Finance charge of $14,006.64

 

my credit is at a T2 so its at 9.99% but i know T0 is still at a 7.99% does the $13,000 finahce sound correct though?

 

Well, first of all, you need to check your credit score before you even go to a dealer! Knowing your score can save you A LOT of money! Believe me... For example, if you have anything between 700 - 720 and the dealer wants to give you 9.99% APR, he is OUT OF HIS MIND!!!!!!! You can get REALLY low APR's with a good credit score. If the dealer doesn't offer you a good APR, try a credit bureau. You can even check with your bank!!! Sometimes they have car loans starting with an APR of 5.75%!!! And guess what? You might not EVEN need to have a very good credit! You can qualify by just having a decent credit!!
Anyway, the figures you mentioned, I can guarantee you that your monthly payments will be around $780, NOT $720.
Also, I would wait a couple of months to buy the new G35 sedan. The car just came out and I don't think the dealer will be willing to sell the car at invoice price.
And my last advice is, DON'T GET TOO EXCITED!!! You might go to an Infiniti dealer just to check the car out and in the end you will be actually leaving with the car!! Those sales people are PROFESSIONALS!!! They will brain wash you!! So, be careful!
Good luck man!!! Hope you get a great deal!!!
Take care...

 

too much imo. no way i would make those payments, unless you have a 6 figure salary lol.

 

I'm sorry, but what do you mean by T2??

 

I think Tier 2.

 

ok alright then that sounds good. i think ill look up the edmund calculator in the case i get another offer. but one other thing is how the hell is the interested calculated. $14,000??? thats outragous. anybody got an equation break down?

 

haha thats true. but good thing i qualify then

 

^^damn bro...but if you qualify, then why is it going to take you 6 years to pay off the car and with 0 down?

 

I think 9.99% is pretty high. Get a used car instead and trade for a new one when you get better % on a loan or when you have a good cash down set aside.

 

sorry if this sounds harsh, but if you don't understand your credit score, have nothing to put down on a $42K car, want to finance it for 72 months, and also don't understand how interest is calculated, you really should not be buying this car, nor do I expect you really can afford it. Have you also factored in gas, insurance, and maintainance? Depending on age, driving record, and miles per month, this will add another $400 or so to your monthly worries, so this car ends up costing you around $1200 a month.

If a new G is wht you really want I suggest you take a few months and figure out where you stand, save some money, get a better financing deal, and see if by mid summer the dealer can make you a real deal on the car. Right now I doubt they are letting any 07's go for anything less than MSRP or slightly less.

 

I am interest to know what you income is...

Especially when we the same last name, I really don't wanna see you drain financially, but paying $55k for a $36k car is not very smart.

Save some cash first for down payment, or buy a cheaper car man

 

but my credit score is fine i have a 710. im using my family's credit which isnt the best to run this car loan. im 20 and this is my first car purchase so the guy recommended me to use somebody's elses. I can down but i was saving up the money for a new house so im not exactly sure where i stand on the purchase of this new car. But by the looks of it i think ill probably drop 10or 15k for a down on this car.