Need some price advice...

[bethd127]

where in NC are you? I was just in the same situation. I have good credit and got a blank check from USAA. Dealer beat it with 5.85% just two days ago.

[xed]

Originally Posted by bethd127

where in NC are you? I was just in the same situation. I have good credit and got a blank check from USAA. Dealer beat it with 5.85% just two days ago.

I'm in Wilmington. I went to my local dealer a few days ago to work out the details. I ordered a stripped white 08 LB because the "light-kit" car was already spoken for by the time I went to the dealer so I'm just waiting for one to come off the boat and then they'll send it to me.

I have a blank check from Capital One Auto Finance for 6.35%. I had the dealer give me a financing quote without telling them anything other than I had other financing already squared away so I did not have to go though them if I didn't want to. I didn't much care for the APR they offered me. Whenever my car comes in and I go to sign the paperwork I'll have them redo the financing and see if they can beat 6.0%. If they can't then no big deal because I have 6.35% locked in with Capital One and I'm targeting paying off the car in 2 years even though I'm doing the loan at 60 months. Capital One will also let me reamortize the loan for free whenever I want as many times as I want. I don't know if Toyota financing allows that.

I think I got a good price on the car, somewhere around 6%-6.5% dealer profit as near as I can figure. I was shooting for 5% dealer profit but on a car priced this low it's only a little over $100 difference so I didn't think it was worth my time trying to get them to come down by around $100.

I'm going to buy the car with $500 down (my deposit) and then sell my current car for $2k. I'll send the $2k to Capital One and reamortize the loan which will bring my monthly payments down to around $195 and then pay the car off in around 24 months.

Originally Posted by Jerkratt

xed....u near lows motor speedway?

Not too far; about 200 miles away from Concord.