Are you Buying A Car?

[Shammy]

*hic*

Thanks! I'll have to read that stuff in the mornin, when I'm more......awake.

[denisea]

Originally Posted by Shammy

You have a Mini? And just how CUTE are they???? :p
Hubby's dealership didn't get the rights to sell the Mini Cooper but now that they are due to move to a new location where they are building an awesome brand spanking new dealership, they are letting them have the Mini line too.

I love my Mini! Named her Mayan Blue. She's electric blue with white roof, wheels and mirrors. And a sunroof too, of course. Conveniently the only Mini dealership in NC is at the BMW dealership here in Winston-Salem.

Originally Posted by Shammy

So AAA, huh? Didn't know they even did financing? Should I check this out?

Yes. The loan process could not have been easier with AAA. They actually offer quite a few discounts and services other than travel --- i.e. home and auto financing; home, auto, and life insurance; and lots of other member benefits and discounts (When we painted the house a few years ago we were able to purchase all the paint at contractor prices from a local paint company. And I always use my AAA discount at Lenscrafters for new glasses because the discount is much better than my insurance discount). Click here for the AAA club in your area.

Originally Posted by Shammy

And which internet financing deals are NOT crap? If you were going to take one, which ones would tha be? I've seen some really good rates online and we have absolutely spotless credit so I would hate to pay a high rate if I could get a lower one.

I started my loan shopping online with Bankrate.com which is considered to be the premier online consumer banking marketplace. I ended up going with AAA because the rates were as good and because we'd been AAA members for years and I knew we could trust their services.

Originally Posted by Shammy

P.S. My neighbor did internet financing for his mortgage!

So did we about 1-1/2 years ago. Did a refi from 30 years fixed to 15 years fixed. Used Lendingtree.com. Interesting thing was that the underwriter we went with was for our local bank, BB&T, yet the rate was significantly lower than when we had applied directly with the bank. During closing our attorney was upset because we had actually gotten a much better rate (5.25%) than he did on his refi.

[TAPPY]

Tommy:

Your dealerships handles Toyota's right ??

When is the best time to buy (price wise ???) end of year ???

I am on my 5th one (customer loyalty) , 3rd Camary !!!

I have always financed thru TMCC due to the good rates and ease.
Plus they give you a break if you are a return customer...

Am thinking of going up to the Highlander (dont really care for the Avalon)
I wish the would redesign the RAV's to make them just a little bit bigger.
Go from New Orleans to Houston all the time for business so always on the look out for good deals...

[denisea]

Originally Posted by sun seekers

Denisea I can see you drivin a Mini...I saw a black one yesterday and thought thats just a realy coooool car!!!!

LOL!!! Everyone says that to me. Funny, it really is the perfect car for my personality. It is a cool car and very, very fun to drive. Lots of pep! She doesn't like to go slow.

The decision was tough for me though because other than my very first car, all my cars have always been Toyotas. They are like the Eveready Bunny. They just keep going and going and going. We had an old SR5 Tercel 4WD wagon with over 200,000 miles on it that wouldn't die though the body was disintegrating (classic problem of the old Toyotas and living in Upstate NY didn't help). Then we had an old Lancruiser which was like a tank --- you know the ones with the manual choke that got 11 mpg highway. Then I had a 1993 Paseo which Keith much to his dislike is currently driving.

Which brings me to my questions for you. Keith turned in his Jeep Grand Cherokee back in Nov (nightmare lease!) and now wants to get back into a truck again. He won't even consider a Ford because of a lemon Ranger he bought back in the 80s. He's never been crazy about Chevy's either. He thought he wanted a Dodge but after test driving didn't like them. Then we test drove the Toyotas and, of course, that is what he liked best. His favorite was the Tundra 4dr Access Cab SR5 4WD 6 Cylinder. Since the Paseo still runs great and has long been paid for (and is worth nothing on trade because of the age and mileage on it) we aren't in a hurry to purchase anything. What are your thoughts on the Tundras? Keith doesn't drive far. Everything is local and in town. What would be the best way for us to go --- new, used, lease? Personally, I hate leases but would be interested to here your thoughts.

[cuffedlinks]

Denise,

I'll second the Mini-Cooper theme here...you'd look great in one...It does seem to match...

Remember The Italian Job? Nicely modified....

You know - I've been around quite a few cities this last couple of years and seen several Mini's...but THE place I saw the most was actually the coast from Cancun to PDC (Percentage wise anyway)...They seem to be VERY popular in that area of Mexico...

Speaking of mileage...man do I pour on the miles...It's a LONG way between civilization here in SD....Had a couple of Honda's with 300K...A Maxima (now my daughter's car) with 240K...and an Infiniti appraoching that...(We usually keep one to put the miles on and try not to with the others - it KILLS the re-sale, right Tommy!)

[denisea]

Originally Posted by cuffedlinks

Remember The Italian Job? Nicely modified....

Yes. I just so happen to own DVDs of both the original and the remake. Go figure.

I actually liked the orginal movie better than the remake from a film standpoint.

[tommy]

Denisea, I agree if you are looking for trucks there are some good choices...
Toyota & Nissan are starting to put a hurt onthe Ford &Chev...I dont even consider the Dodge..(Sorry)

If I were looking for a Toyota Tundra and I plan on keeping it for a long time I would GO certified Pre-Owned...You will save most of the depretiation in that first year...
If you can find an 04 with 13-15k on it and compare those prices with a new...with the Pre-own Certified you can still get the new car rates...most people dont know that.I would finance it as long as you can with the lowest rate....The reason for that is make the payments as low a spossible and then make 3 extra payments a year...you will pay it off in about 1 shorter than you financed it for...In return you wont actualy pay all the interest...so if you were to get say 5.9% you would end up paying @4.9-5.1%..

my pick going new:

1)Nissan Titan....if you havent driven this truck before you buy you are missing out...I have been a Ford driver for ever....the Titan is awesome.....
2) Ford -f150 super crew lariat white w/black leather( this is what I drive now
3)Toyota Tundra Double Cab..Loaded...(resale value on the double cab is way higher..But if you want an Access Cab the go pre-owned...they arent worth as much on trade or wholesale due to the Double cab coming out..take advantage of that situation.)

I like the Titan and The F-150 for pure size and leg room...If I were concerned of keeping it for a long time I would Have to look at the Enegizer Toyota..
But I drive a Demo and Have forever so Im kinda spoiled...Get a new car every 4000 miles....

AND YES Cuff THE MILES KILL THEM..so drive it till it breaks in half....there never anything wrong with having a high miler that runs and drives good...once they hit a certain level at least for TOYOTA,NISSAN,HONDA,Infinity etc...Imports dont go down anymore in value...so its like having 1000-1500 laying around out in the yard that you could cash in if ever needed some fast cash but use it for as long as you can look at it...

[denisea]

Tommy, thanks for the info. I appreciate it. I think we're going to hold off for as long as we can for now. When we're ready to purchase, I'll probably have more questions for you. One question I do have now if we were to go with a Toyota. Keith's got a friend that's a salesman at a Toyota dealership here and he keeps telling Keith to come in and he'll sell him a truck for $100 over invoice. After reading what you posted to Shammy, I was wondering if this would be a good deal?

[tommy]

if you go new...that is a great deal on a Toyota...Its fair to you and them and can be done without alot of back and forth...

just remember that the 05's will be out in a couple of months and they will be more $$$$.....so if you can get an 04 now before they run out you will be in good shape....Since Toyota doesnt have to worry about a bunch of extra units hanging around in the market due to them being a turn and earn setup dont miss out if you want a new one....they wont last! at least not here in Texas they dont....

[denisea]

Wow you are just a wealth of info! Thanks again, Tommy.

[tommy]

no problem....Happy to help..

[Shammy]

Hola Tommy!

Just to let ya know.........I have the invoice for the 2004 Element EX AWD.

Sticker is $21,590 and the invoice is $19,982 (with destination charges).

And they have an orange one on the lot too, saw it yesterday.

Not much mark up, huh?

Am I getting this car for $20,000? I'm thinking maybe not?

But I do know someone who did (not local to me though). They went in, told the guy they were paying cash and wanted to walk out the door for $20,000, meaning no additionaly fees taxes, nada. $20,000 later, it was a done deal.

How'd THAT happen? But we both know how much of that extra stuff they add to a new car purchase is "fluff", right? My favorite is the VIN etching and the scotchguard protection. I had them give me back a check for $105 on my last car for the VIN etching.

Thing is, I was thinking that I could do a cash buy myself if I took a 5 year home equity loan (and get a little extra to build my own Cenote Bogner )instead of a car loan and then walk in with cash.

What do you think bout that?

[tommy]

I think using a Home equity loan for a car loan is Kinda crazy with the interest rates as low as they are...the problem with home equity loans is that most people do them for longer than 5 years and thats not a good way to buy a car...I would rather you finance with me than Pay cash for the car...because even If I give you buy rate I still make $150.00 flat on the financing....I would however do the home equity for a cenote any day of the week and twice on sunday!!!!

I wouldnt think that you will get that unit for 20k out the door!!! although if you buy it for $100.00 over then add TTL that would be a fair deal...there is less and less mark up each year on these cars...I remember the days when there was 4-5k in each unit...NOT that way anymore...It is a numbers game these days with all the info that is out there now it is tough to make what we used to...those days Im afraid are gone forever...Just remember when you hear stories of people buying cars...they always tell it as if they got an unreal deal....Every deal is different even on the same price cars so dont believe everything you hear about that SUPER DUPER DEAL...

Shammy just so you know...I have personaly handed people checks for $5000.00 when there cars were stolen and not recovered from the vin etch...It works...

The scotchguard is a waiste...go get your own can and spray it down yourself for about $5...

One piece of info is if you have the option to purchase GAP insurance I would....
it is invaluable when it comes to a total loss on a vehicle!!!!!

[Shammy]

Oh, my car HAS the VIN etching...I just told them not to charge me for it and they agreed, but did anyway!

I agree with the home equity thing, that's why I would only do a 5 year loan, no more. And that's also how I plan to get a new cenote out of the deal if that's the way I decide to go. I opened my cenote yesterday (yes, up here, we do these things a week before Memorial Day!) and the skimmer and 2 hoses are leaking. Same thing every year but this time, I won't be able to do much about it for a while (surgery is tomorrow mind you ).

And the rates that I have looked at for 5 year HEL are pretty low. Honda will try to push at least 6% on me, if not more (I'm saying it WILL be more) because again, they think that they have the superior product and that anyone will do anything to get a Honda (I so hate that attitude and would actually like to boycott Honda! ).

I'm just trying to figure a way how to NOT pay Honda, on their terms...don't know if that's by an internet car loan or a home equity.

[tommy]

use another lender that the dealer offers..like Chase or Bank of America or Wells fargo most dealers have these banks signed up as Indirect Lenders...If your credit is ACE's just make them show you the callback sheet..I would think you could get under 5%...the HEL is not a bad way to do it if you keep it to 5 years max...thats your house your messing with...I have seen people with perfect credit do a Home Equity loand Buy A car with the cash and had a life changing event that caused them to default on the HEL and loose there house because of it...OUCH....I just know if something happend to me or Donna the house is getting paid before the car...People dont think about that kind of stuff but I see it all the time...not a good thing