bbrandoman

Well I am finally gonna get my Maxima. Now, I am a college student so cant afford that much, but what a dealer offered me is for the SE(silver) no options other than floor mats and mudflaps, for $25,778...invoice is 25,478. Should i jump on it, or could i do better? Pleaselet me know...thanks

LithiuMax

Dealer can go $500 below invoice and still make a $100 profit. Keep grinding away.

Or you could always get a lot more car in a 5th gen...

lobewiper

Offer him invoice. But, don't forget the other side of the equation, which is your financing rate! A couple of times this fall, some Chicago dealers have offered 1.9% rate on the Max. (That rate asumes good credit rating). You need to find out what the different dealers will give you as an interest rate to know the total cost of the car. Don't focus only on the price of the car!!!

bbrandoman

[QUOTE=LithiuMax]Dealer can go $500 below invoice and still make a $100 profit. Keep grinding away.
QUOTE]


Thanks guys, So the invoice price is not the price the dealers pay for the car?

bluemaxx

[QUOTE=bbrandoman]No it isn't. They get additional discounts and some hold back dollars. They also get some of the extended warranty dollars. In fact if your credit is marginal you can offer to take the extended warranty if they will get you the better rate.

bbrandoman

Hey, that dealer I had the agreement with(not written) tried to change the price on me, so i decided to call around, and I now am going to drive to Houston(3 hours away) but i now will get it for $25,678 and i get a spoiler and premium sound along w/ the mats and splashguards, So not only is the price cheaper but I am getting to more options that I was not going to get..Hell yeah.This is well under invoice..Does this deal sound good?????

lobewiper

It all depends on what financing rate you'll get. (I assume you're not paying cash for it.)

bbrandoman

Well if their rates are not good, then I know I can get 4.25 through my bank.. I am getting the Max for about 8 or 900 under invoice..

SkoorbMax

"I am a college student so cant afford that much" WTF? I don't even own an 04 Maxima and I have a decent income. How can a college student, presumably with loans, afford one?!

CCS2k1Max

iTrader: (2)

And he'll soon get a real world lesson not found in too many college finance courses: upside down loan... That's alright, chicks dig it.

arlan

iTrader: (1)

i think , he goes to Harvard or something like that.

SkoorbMax

If he's smart enough to go to Harvard, he should be smart enough to know that a new 6th is expensive for a working adult, let alone a college student

bbrandoman

Actually I am a very fortunate college student, whos Dad pays half my payment 'till I graduate, and I already have a job lined up for when I do graduate starting @ 60,000/yr. So I think ill manage....How the hell did we get on this subject anyway, who the hell cares..The only reason I wrote I was a college student, is so you guys wouldnt rag on me for getting a base model(not all fancy)

bbrandoman

no actually I go to the University of Texas...

CCS2k1Max

iTrader: (2)

Yes, you are very fortunate both on the family and employment fronts.

In any case, I have always had the philosophy that if I couldn't afford a "nicely appointed" car, maybe it was a better idea to step down and get a loaded, but less expensive car. My first car out of college was a Civic EX coupe, with a three year loan and very manageable payments.

bbrandoman

Sorry to dissapoint you, but I am doing just fine...I do not have nor will I ever have "upside down loans"......I dont know, but you people are not making this site seem very informative and helpful, morelike a criticism forum......and I am the college student, I should be the one acting like a child, not a bunch of grown men...

CCS2k1Max

iTrader: (2)

Not disappointed at all. You're an educated man, do what is best for you.

bbrandoman

Thank You!

lobewiper

O.K., I give up. What the hey is an "upside down loan?"

CCS2k1Max

iTrader: (2)

The portion of the loan term where the value of the car is lower than the balance on the loan. You owe more than the car is worth since two thirds of the interest payments are due the first half of the term (that way the banks ensure making money in case people pre-pay).

NEVER take any of those deals Mitsubishi is known for, no money down, no payments for X months. Instant upside down loan...

SkoorbMax

Any new car loan will be upside down unless you put enough money down, at least for a while, because the principal you owe on the car will be less than the quickly depreciating resale value. In the case of a honda sometimes one will be upside down for only a short while. In the case of a 72 month mitsubishi loan you'll be upside down for YEARS!

CCS2k1Max

iTrader: (2)

Correct. Unless you buy a collectible, no car should be viewed as an investment. Even if you buy a car with cash, that $30K check you just wrote became $25K worth of car simply by signing by the X.

BTW, some Autotrader adds iI've seen show monthly payments for used cars based on 96 month terms!

soundmike

iTrader: (24)

Dealers usually (at least a couple that i know of here in Houston) gets the vehicles from Nissan at between 2-5% below invoice. So even at invoice the dealership makes money out of it - they just never tell you about it.

So imagine how much money they make per sale just selling vehicles at MSRP.

I actually went as far as going through my 3rd interview with a couple of dealerships here to get a gist of what kind of money a salesman makes and how much it costs the dealership to get the car and keep it in their lot for nnn amount of time.

In any case, which dealerhip here in Houston will you be getting the car from?

Either way, invoice or a couple hundred below invoice is a good price. Just make sure they don't screw you with financing and/or extra fee's. My suggestion is to also keep your bank's "blank check" handy in case the dealership does screw you over, better dealerships will actually match or beat the rate you have in hand.

Redsand187

I've seen a lot of used car dealerships in North County San Diego doing that too. They get 2 year old trucks, put lift kits and tires and wheels on them. Then they offer in house finiancing at like 4%. They probably make 10,000 dollars in intrest.