dollar5

i totally love em ive read everything about them and understand completly what i am buying. the only thing that worries me is the question am i getting the best deal? ive been to 2 dealers and yes i know about the pure pricing but is that a lil trick the dealers can use for when they dont want to go any lower? i went to the scion in caldwell nj today and the best deal they offered was $267 a month with 2000 down for 6yrs at 11 apr. that is for an 04 automatic with out any accessories. its not that im gettin a better deal thats just the best they could do by playing with the numbers. but rule #1 about buying a car is never trust the sales man. even still though the discount between the 04 and 05 is only $200 that seems off a little bit. did anyone get a better deal? or know of a better place to go? i jus want to have the assurance of knowing i got the best deal. id really like to pay $250 per month. i trusted the dealer up until he went with the "oh you were the one that called earlier today about that xb right?" which i didnt so i told him no - "oh well some one else was really interested in that one. wanna put down a deposite." so idunno if anybody has any advice or some wisdome they can pass my way my ears are wide open.

grnxb

First, I am usually more concerned about the final price, then I would play the financing game. 11% sounds like it is about 6.5-7% higher than I'm paying so I would first look at that. What is your bank/credit union going to charge you?

I think Scion's pure price is as pure as it gets so I would be surprised if one dealer is charging more than another dealer in the same area. You will run into different sales taxes dependent upon the city, but shouldn't vary much within a state...or so I believe.

I have not heard of anyone getting deals on the car itself, so I believe there is no wiggle room unlike other dealers on different kinds of cars. And I wouldn't put much concern in what the dealer said about someone else being interested in the xb you're looking at. The sales guy was likely telling you the truth.

I am sure some people have put deposits down, but would think they are refundable. My dealer didn't want me to put a deposit down even though I offered. The guy knew I was a buyer and was interested so that was it.

Regardless, best of luck. I think you will find that most people have had a good experience with Scion dealers. Maybe check the forum regarding dealer reviews.

rollotomassi

I agree with grnxb about being concerned with the final price of the car more than the monthly payment. My payment is $355 a month, BUT it's for only 4 years ('05 5spd.)
Keep in mind, the dealer could make your payments $10 a month- for the rest of your life.

I believe that the pure pricing is indeed pure. The only way to get the absolute best deal is to get the absolute best finance rate.

I have heard that deposits are refundable.

Best of Luck & let us know when you pick her up!

rAndal

I wouldn't do it - how's your credit?

With a Monthy Payment of $270 @ 11% interest for 6 years (72 months):

Your loan amount is $14,185 (sounds right with $2000 down)
Your total payments assuming you don't ever pay into your principal is $19,440
Making the amount of interest you paid $5,255

For perspective, I'm paying $340 @ 3.9% for 4 years (48 mo):

My loan amount is $15,088 (I put some cash down plus some options...)
My total payments will be $16,320
My total interest paid will be $1,232

But I'm paying against my principal a bit every month so it helps cut that total payments down a bit.

It depends on your credit history and what assets you may have... If you're young and your parents will cosign for you, that may help (assuming they have decent credit) and you should check with your bank or credit union and see if they can cut you a better financing deal.

If you have bad/no credit you can help make up for it by coming up with more cash down but it probably wont be a dramatic change. Every % point will help though...

Good luck, it sounds like they aren't moving your final price at all, but make sure you see it in writing anyway - if you think they moved the price at all you should contact scion of america, but come with proof...

BrianxB

11% GEEZ!!! Thats nuts. I have like 4.7% apr. I put down 3000 and my payments are like 240 a month for 5 years I believe it is. I also bumped 1300 bucks into accessories so that drove my price up. I wouldnt get it if you can get an interest rate under 7%, itll just kill you.

Big_Jim

iTrader: (3)

seems like you're in the same boat i am d5, 11% isnt that bad for a new car if you're credit isnt good. i tried goin through my credit union, and my bank, and neither would touch me.

i'd try to save up some more money and see if u can get a parent or a relative to co-sign for you. every little bit helps.

best of luck to you
-JiM-

SuperCrunchyAction

I pay around 10% right now but out the door i paid 13,500 with 500 down. Payments are reasonable and i'm going to refinance soon. It's worth it, the xB is the best car i've ever owned.

Big_Jim

iTrader: (3)

thats another thing my parents brought up to me. refinance the box once your credit is built up a little more, you'll be payin less in interest and probably pay the box off faster.

just an afterthought.

OMAC

Dude, paying 267/mo for 72 months = $19,224, less your $2,000 deposit makes your total price $21,224. I would really shop around for financing, and see what you can come up with. I bought my xB outright and used home equity to finance the car so I did not have to deal with the hassle of a bank, nor did they try and get me to use in-house financing.

What are you paying for the 2004 xB? Are they giving you any kind of a deal on it since it is a leftover? Also ask them if it is actually a dealer demo unit or something, that is what mine was and they were able to negotiate very well on that particular car.

As far as the dealer saying "oh you were the one that called earlier today about that xb right?" which i didnt so i told him no - "oh well some one else was really interested in that one. wanna put down a deposite."- He was bull____ting you and trying to get you worked up over it. If they are trying to sell you the 2004 without any kind of discount, not just the difference between the price in model years, I would just tell them no thanks and look elsewhere.

You have to determine what payment you are comfortable with ($250) and then determine if you are comfortable with paying that amount of money for 6 years ( 72 months). You are going to be upside down for a long time under that setup so unless you have money coming in you will be married to the bank for 6 years.

superjeer

Also, watch the "document fee" and or "prep fee" This is how dealers can rape you even with pure pricing. Best bet, since you have the pure pricing advantage is to not even hit a dealer until you've tested the waters with your own financing options (credit unions are typically the lowest rates, but banks do beat them from time to time). And, if you don't get THAT one on the lot, you can get the next one, so don't get taken in with the :better get it now or you'll lose out" pitch.