Purchased in May 05 I took my dealer for a ride for about two months but in the end i got a 2005 black on black DPP with a sunroof. car was just of the truck with 9miles on it, sticker was about $33,000 i got the car for $29,500 out the door this is including tax and title and a few perks like 2 years of free nissan oil changes. Keep in mind this is also my first car ever purchased but i have been pretty good with my credit so i got a 4.65% rate for 66 months at $327, and i put a little over $10k down, half of that downpayment came from a trade in of a 96 max se beat to ****, that i purchased for $5,000 two years before, so basically i drove the car for free for 2 years, i guess perks of being in a family within the car business.

 

My credit score is 836 and I couldn't get below 6%, even with our bank who I have used for the last 4 car purchases. I had the credit guy at the dealership shop around and he couldn't beat my bank.

I would love to have been able to get in the 4's but I think it's not possible here for some reason.

 

bought my 06 in january 2006, paid 26,400 out the door and my payments are 453.00 72/mounths zero down, no trade ins, walked into the dealership with lint in my pockets walked away with my max.

 

Sounds to me like your more loyal to your bank than your bank is to you...jmo

 

My credit score was 638 and I got 6% through beneficial. With a score like 836..........you should have interest free!

 

I am not a credit expert but do used cars have higher interest than a new car loan?

I bought an '04 last week. It only has 11,000 miles on it but it is still a 2 year old car so would that have anything to do with it? My bank "gave" me 6.14% and the very best that the financial guy could do at the dealership was in the 6.5%+ range (and he was shopping it around at several lending institutions).

 

$438 a month for 48 months. 2.4% financing through USAA. 18 months left

 

Used car interest are higher than new car. You can "pay" the depreciation on a new car, or pay the bank higher interest for a used car. Depending on the terms, you could end up paying the same amount.

$384/60 mos @ 2%. DPP; no NAV, no roof, no Elite.

 

^^^^^^^^^^^Good point..... never looked at it that way before

 

There would have to be a huge discrepancy in the rate to make it work. I financed $20k for 48 months so I put a pencil to it....

$20k @ 6.14% = $470/mo
$20k @ 2.5% = $438/mo
Difference = $32/mo
$32 X 48 months = $1,536.00

I guess if the difference was 10% it could pay off to get a new car but at reasonable numbers the math doesn't work. I looked at new ones (06's) and nearly pulled the trigger on one (was going to do the deal the next day). I happened across the used one and had a sudden surge of responsibility. I couldn't pass up saving $10,000.

I have bought several NEW cars in a row and have taken a bath every time. I thought this time I would get a used one and I gotta say it's feeling pretty good so far. The thing still smells new (whomever had it before me didn't even peel the film off of the shiny parts) and is just as pretty in the garage.

Don't get me wrong... New cars are great. I actually like breaking them in and you know EVERYTHING that the car has been through. It's great to have the brand new model with less than 10 miles on it but for me the sting at the end is way more extreme than the buzz you get from that new car smell.

 

That's true, but a $20k new car can be worth +$10k after 5 years where a $20k used car probably won't be worth nearly as much.

No one knows EVERYTHING a car used has been through, Carfax included.

 

When you buy a used car you know nothing about it's history. Some little old lady might have only driven it to church on Sunday but they won't tell you that her 18 year old grandson drove the hell out of it the rest of the week. That's definitely a major mark in the Pro column for buying new.

The biggest part of the depreciation on a new car is in the first couple of years but after that you take less and less depreciation every year. Here is the projected depreciation for a 2006 Maxima @ $30,000 for 5 years.



If you buy this car after the second year of depreciation and keep it for 5 years your depreciation will be around $9,000.00. That 5 year depreciation on the used car is less than the depreciation for the first two years after the car was purchased.

Don't get me wrong, I have done it both ways and there are pros and cons to each. The coolest thing to do is to have an '07 in '06 but the smartest thing to do (financially speaking) is to have an '07 in '08-'09.

 

Pneumatic- Sounds like you have terrific credit like in the top 5% in the country but i want you to keep in mind that in may of 2005 rates for new cars where much lower than they are today. From my understanding i got prime rate which is what the bank offers at the starting rate at a given time. And to my understanding most dealerships will give you a prime rate when ever your credit score is over 720, people in the 680 area and up can also get prime rates, but dont look for the dealership to offer you this right off the bat. My best suggestion is to always get a rate from a credit union assuming that your apart of one, they tend to give rates to there members at prime or below in most cases. But to get back at your 6% rate, that sounds about right for todays rates, I would check bankrate.com they have the current prime rates on almost any type of loan.

Also i come from a used car mentality but i just wanted to buy new once in my young life, but to be honest i will probably go used next time or more than likely lease, because i have a tendency of wanting to change up about every 3 years.

 

bought my 05 in april of 05, loaded, sticker was 36k, paid about 32k
payment 320. a month for 60 months. got 2% interest from nissan financial.

 

Purchased 2006 SL w/DPP in December 2005 and paid it off in May. I plan to keep this car for another 6 years or more. Buying and selling is a losing game.

 

I think I win. 600/month (lease), zero down, zero interest. This is in CAD money btw. This price however, included a stillen bodykit (new car) painted and installed, my arrelli 18" wheels, custom leather, stillen grill, debadged.

So not too bad.
Taylor

 

I paid cash for my less than year old 2005 SL with 11K miles on it.

 

Bought my MAX used 32K now has 33K 464 with trade 2001 MAX

 

Leased a 2005 SE June '05 - financed 28K with $0 down for 36 months at 15K miles per year. Payments are 430/month which include state sales tax.

 

Just bought a 04 sl has no nav or sunroof 45000miles for 20900 pay 424 at 5.4% 60 months no money down.

 

brand new 06 SL fully loaded around 35K with taxes,dealer fees,extended warranty, extra warranty on paint, lo-jack...everything i could get.....13K down....$339 a month for 60 months

 

^ bought in case ur wondering....

 

ramberg--congrats on being able to afford retirement at 59!!!

 

Same here.

 

Hey! Do you have a vanity license plate?

I commute from Nahant to Watertown every day, and always see an 04-06 Frost SL on the Lynnway and Marsh Road to Revere at least once a week.

 

$330/month, 60 months.

 

Car came out to about $37,500 and that's after I originally negotiated 5g's off the sticker price. I ended up getting the Elite Package, extended warranty, the Mobile Guardian GPS tracking system, and GAP insurance. My monthly payments are high, but than again I didn't put no money down. $650/monthly for 60 months. On friday will be my 3rd year with this car and will be paying it off. After that I plan on keeping it around but sometime next month I will be purchasing either an M45, or an E-500.

 

Seriuosly. Damn I wish my payments were in the 400 range. I got an '06 loaded SE I put 2500 down and I'm paying 650 a month!!!(@7.00%)

 

GO FOR THE E500..DEFINITELY!!!

You will NOT go wrong...big 5 liter v8 HOT eclass..get it get it get it!!!!!!

 

I feel your pain... I know alot of these guys here HAVE to be puttin money down to be gettin these low payments.

 

I had to have the loan cosigned at the time, but that was 3 yrs ago and I had no credit history. My score is now a 761 so I'll be fine next time.

Yeah I put $10,000 cash down plus a very tired 1996 taurus with 117,000mi, i think I got a couple grand for it, initially they wanted to give me $800 for it...I said and got my payment down about $90 a month after all was sad and done.

 

$625, 04 maxima se, got everything but the nav and elite. no money down and I was upside down on my trade in by $3000. I was able to get the 1.9% finance so it's a 60 month term.

 

457 $2000 down 7 years 2.1%

 

What up,

Ive got an 05 SE. Payin 750 CAD a month @ 3.2% financing. I went into nissan few days back, the sales guy said if i trade in my 05 for an 07 altima, my monthly payments could be lower and i could get to keep my same finance rate. Oh yeah, i think mine was on a 48 month plan.

 

are those out allready?

 

Just put a deposit down for a 2007 SE with DPP and sunroof. I was able to get a 24 month lease for $2500 OOP and $390/month. As much as I would have liked to go longer, this was a great deal that I couldn't pass up.

 

Maxima 05 SL fully loaded

486.00 for 60 months @ 10%..........

Yeah......

1000 cash and 6000 in trade....

----------------

for all of you non-max owners with terrible credit... YOU CAN DO IT!

 

i was 4000 upside down on my trade so lets just say i pay waay too much $500+(and i wish that was in canadian dollars but it aint). If i could do it all over again i would have just burned my last car to the ground.

 

$590 CDN / month with $9K down for 60 months

 

$450.00 here 0 down 72months