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For a '16 or a '17 Max. My credit is not too good so I was wondering if I had any options. Also I'm not working with money down. I know I have a lot going against me here.....
What's so great about the 8th Gen Maxima that makes you want to get one so bad? I'm a different breed because I tend to keep my cars for 7 years or more before I want a change. IMO, you don't get a great deal on a new to you car until it's 3 yrs old or hits the 45k mile mark. I just got my wife a 2016 Infiniti QX50 fully loaded with only 21k miles on it for $26k.
Also, have you considered looking in a different state? I'm in Missouri and the Infiniti's here sell way above retail because they're not that many. I found a 2016 in New Jersey, (my home state) but the laws in Jersey suck for out of state purchases. They wanted my ssn, account info, wouldn't take a certified check from my bank, couldn't send me the title, and had to register the vehicle in my state for me. I stopped that deal as soon as they told me those conditions.
I eventually found her QX50 in Washington state, I paid $650 for dealer to door shipping and saved about $5-6k dollars over what I would have paid here in Missouri. I had it appraised and I can sell it right now for $33k dollars.
Theres tons of factors into it, like most of them said, what your current car is worth, what you owe, and what your income and what bank say you can afford, if you're looking at 17' Maxima they are gonna run you starting point of 31k for it, all the way up to 40k for it. Depends on the trim and equipment, so you have to know what you are working with. I used to be in new car sales, a lot of people think they can get a car payment under 400 bucks a month but their income contradict differently and not having a sizable down payment or equity on their trade. It's all about the numbers and they do not lie.
I would only do it if you aren't upside-down in your '13. If you go to kbb.com, estimate your car's value, and then click on the "get cash offer now" thing, you'll see exactly what carmax will offer you. ...you'll also get a dozen dealerships calling and emailing you, though. But this is a great tool to see what you can actually get for it. Of course selling it privately could get you more money for it. I'd recommend getting a used one if you can find it. I got a '16 S used last month with 32k on it. Spent just under 20k.
OG member here...
I bought my 2016 SV brand new with under 10 miles on the odometer. Financed at ~30k 1.9% for 60 months. I have about 48 payments left and owe $25k. I also put no money down but had a trade that was almost breakeven. My payment is $541/mo.
Let's do the math. To get the absolute best deal.
1. Check out cargurus or a similar site. https://www.cargurus.com/Cars/invent...sModified=true
Price wise there is quite a range. You can get a fleet SV model with almost 44k miles for $19k or you could get an S model with a lot less wear and tear for around $23k. If you're going to go used take advantage of a CPO program.
2. If your credit is questionable, I'd say fix it first. Insurance is going to cost more, your interest rate is going to be high. I'd advise against anything above a 5 year loan. By then the car is going to be old and you'll be way upside down. I really like this chart from the simple dollar:
At the worst you're looking at a 15% interest rate, at best around 3% (bankrate.com can show you some options). I had a friend with a car loan at 15%. He sold the Nissan and got a cheap Kia.
Using that chart someone with good credit would pay $21,730 for a $20k loan vs someone with bad would pay $28,516 for the same loan. That's a whopping 31% more.
I have another friend with a repo on his record and bought a used Kia. His payments are just as high as my Maxima where I financed almost $10k more.
3. If you trade the '13 in you're gonna get screwed. It will be worth way less than you think. Guessing your 13 is financed too? Many folks get in trouble rolling the gap in value vs loan amt owed from one loan into another one. They end up owing say $35k on a car that from day 1 was only worth $30. Then they have 72 month payments and all they pay is interest. Then get tired of the car in 4 years, repeat the cycle. Or they just lease forever, never getting ahead...
4. Find a credit union vs a bank and shop around. They are sometimes better at giving loans out. Sometimes a used car dealer lot will give you a crappy loan padded with random fees. If you need a cosigner or the value of the car is more than 50% of your annual salary / wages I'd walk away. Say you make 50k/yr the cap would be $25k. Some folks say that is still too much but I'm talking about a limit not a minimum lol. I was earning around 35k/yr with a 23k car. Too much of my money was going to the car once you add in gas, insurance, maintenance. Take a good look at what each will cost you and add them up. Suddenly that $400/mo payment can be $6-700 in total costs.
I was thinking of selling my 2009 Sv., since I own it. But it only has 47,000 on it. Still drive and looks like it's brand new. I've driven the 17' midnight edition a few times. I still feel my 09 is quicker. But I do like the new interior on NEw design..
FWIW I just got rid of my 14 sport for a 2017 maxima S
The new 17 "S" looks great - I miss my cooled seats... and the seats in the 14 were way more comfortable. The Bose system in the sport was nicer - my iphone integration in the 17 works much butter - obviously the screen and controls are much improved.
The fake shifts in the 17 are just plain stupid! But there is more power.
The car looks great but I should have kept the 14 - It only had 70k miles.
Fuel economy is much improved I was getting 23.5 in the 14... I get about 28 in the 17..
OP, please keep your car. Don't let the bling of the 17 make you get into more debt and paying a lot more interest.
I have gone for a test drive in a 2017 not because I wanted to sell my 2008 that I bought new, but because I just wanted to see the difference. Nothing really impressed me to want to get rid of my 2008, especially as I have a 2012 that has more than the luxury a 2017 Maxima can ever offer. Also, my 2008 is just as powerful, besides all our freeways have speed limits. So, it is not like people are buying the 2017 for added speed and power.
Based on the fact that you said your credit score is not good, means it may be less than 650. Also with no money down and poor credit, you are looking to be basically screwed by salesmen and any bank who takes you. Salesmen will take advantage of you because with weak credit and no money down, they pretty much run the sale. But with great credit and a lot of money to put down or buy it out right, you have the power and control and can walk into any dealership and they will be glad to get your business.
At your current situation, it is wise to keep your current car.
Do you know that you can make a quick decision and go purchase a 2017 that came from factory with tons of problems? While you just traded in your reliable 2013.
Follow the advice here. Keep your 2013. I have my 2008. Bought brand new. Today it has 212,500 miles. It is my most reliable car I have ever owned and at this its age (9 years old with 212,500 miles on odometer), I doubt a 2017 can compare it on any of my trips from Houston to Dallas or Houston to south of the border into Mexico, when I go. All I say to another Maxima and any other car for that matter on the freeway during my long road trips is "Catch me if you can." They never do.
If your car has been good to you and reliable and odds of trading it are not in favor with you, keep your nice car.
Last edited by PetitFrereMaxima; 04-28-2017 at 02:26 PM.
Money should not be the reason not to upgrade. Life is for the living. If you like what the new Max offers and you see the value in having it, then go ahead and do it. I went from a 12 to a 16. No regerts.
04-26-2017, 01:37 AM
