Went looking for a new GTO

Well guys I ended up at a dealership with 3 GTO's.

2 were LS2s with 50k and 70k miles respectively with an $18,990 and $17,990 sticker, respectively. Both autos. Long story short, I got the guy to go down to low $13,000s on the LS2 with 70k miles and about $14,500 with the LS2 with 50k miles.

There was an LS1 with 48k miles (same as the YJ I used to have) and he wanted to put me in it for around $13,500.

(I know, you are going to say GET THE LS2 WITH 50k MILES YOU DUMMY!...please read the rest.)

My problem is that ALL of these are autos, and I really really really want an M6. Would you guys settle or keep looking?

But more importantly, this strikes me as weird too: Mind you, I paid $14,300 for my M6 YJ AND had a payment of $282 with a $2200 down payment. He wants my payment at $300 a month for a $13,000 car with a $3,000 down payment for the same 60 month loan term. (For those of you who were bad with word problems in math class, I wrote out the work for you at the bottom of the post:))

How the smurf does this even begin to make sense? He kept telling me "it's what my finance guy told me, I don't know why its not adding up to be less per month than your old car, these are just the numbers he gave to me".

Your homework: Make this equation make sense given that an APR of 9.89% doesn't vary. I would have thought my payment for the new GTO would be <$250 all else equal.

Old YJ $14,300 - $2200 down = $12,100 principle = $282/month

vs.

New QSM $13,000 - $3000 down = $10,000 principle = $300/month

Go.

If you really want a M6, I would wait because you are never going to be truly happy with a A4. I wish my car was a M6, but I didnt have the choice because my wife bought the before we were married and she didnt want a M6.

If you think you will be happy with a A4 go ahead and buy it. I cant help you with the payment stuff.

Its pretty simple. Hes not telling you the truth, tell him you want to see the numbers on paper. With the information you provided using an Auto loan calculator your payment should be 211.93 @ 9.89 interest rate with 10,000 priciple, on a 5 year loan.

Its pretty simple. Hes not telling you the truth, tell him you want to see the numbers on paper. With the information you provided using an Auto loan calculator your payment should be 211.93 @ 9.89 interest rate with 10,000 priciple, on a 5 year loan.

I got $236 with the calculator on edmunds. Are you taking tax and tags into account?

Edit: no you weren't but still either way it's substantially lower than the $300 they wanted. I half called their game today, when he calls me back monday I'm totally calling them out and telling them IF I were to buy an auto, I want to pay x amount of dollars a month not "$13,000".

That cash is burning in your pocket.

Wait out for your M6.

Nope. You said 10,000 priciple I didnt add Tax & Tags, I always tell them the price I will pay out the door. If their numbers dont add up they are trying to bend you over somehow, if thats the case, walk away.

I'd wait.

Guy's getting an M6 in on monday and hes gonna call me. Maybe I can talk that one down as much as these.

I like the LS2s but id rather have an M6 instead of 50hp that I can make up later down the line.

Wait for the M6

LS1 vs LS2 isnt a big deal, the power can be made up in mods easily. Ya can't make an A4 an M6. :judge:

I got $236 with the calculator on edmunds. Are you taking tax and tags into account?

Edit: no you weren't but still either way it's substantially lower than the $300 they wanted. I half called their game today, when he calls me back monday I'm totally calling them out and telling them IF I were to buy an auto, I want to pay x amount of dollars a month not "$13,000".

Never tell a dealer that you want to pay "x" amount a month!! They will rape you!! Be smart enough to know what your payments should be at a certain payment. If your numbers don't match up the finance guy is making a killing on the back end of the deal. Meaning his end. He must have had a higher intrest rate than the salesmen was quoting you. Plus some sort of aftermarket warranty and GAP insurance. Settle on the price of the car and the payment will fall in line!! You don't need any warranty or gap or to pay 2 to 3 percent higher intrest just so you can feed the finance guys chlidren. Just my two cents!!

m6 is the sh**

granted those arent half bad prices for those a4 ls2's.... could someone help me find als2's at that price point in texas??? lol

Never tell a dealer that you want to pay "x" amount a month!! They will rape you!! Be smart enough to know what your payments should be at a certain payment. If your numbers don't match up the finance guy is making a killing on the back end of the deal. Meaning his end. He must have had a higher intrest rate than the salesmen was quoting you. Plus some sort of aftermarket warranty and GAP insurance. Settle on the price of the car and the payment will fall in line!! You don't need any warranty or gap or to pay 2 to 3 percent higher intrest just so you can feed the finance guys chlidren. Just my two cents!!


For sure, I caught this and you'd better believe that I won't fall for the "well awesome, well sell it to you for a $13,000 sticker and your monthly payment will be $300." Please, I got more money back from Geico than I originally thought and my idea was to have the same payment with an LS2 M6, or a substantially lower payment with an LS1 M6. Under 50,000 miles.

They are definitely not suckering me into the driver's seat. I have a backup beater to get around in if I can't find one within the next two weeks.

you wont be talking them down on a manual though

They are about to try and rape you, I guarantee they are adding in a extended warranty and life insurance on the loan, plus maybe the interest rate is very high,and all sorts of other crap to raise that 13K to a 15K car and then they try to add on a dealer prep or some other crap all the time. That is where they are trying to make money if they end up making very little on the sticker price they try and make it on the back end with all the add on stuff and that is where the saleman makes plenty of commission, tell the salesman to get the finance guy out of his office and sit down and explain line for line what you are paying for, you want to pay for the car, a low interest rate maybe a $50-$100 document fee, tax and title. The ball is in your court there are more cars for sale (even GTO's) than there are buyers. Every dealer I have walked into the last six months was like a abandoned building almost and the salesman that were there pounced on a buyer like vultures desperately trying to sell something, you might have to wait longer than 2 weeks to get what you want because I guarantee you if you buy something on impulse inevitably something better will come along the next day or week. Good Luck

Wait for the M6 Luke, trust the force Luke, it will come......

Find your own financing. Bank or credit union.

WAIT! Please, wait.

Just an FYI, what he wants you to pay for the car (3,000 down + 300/ month for 60 months) adds up to 21,000 for a 13,000 car. That is one hell of an interest rate!

Find your own financing.

Exactly. Have financing already, get the dealer to agree to your PRICE, not terms, then pop them with your financing and let them see if they can beat it. If not, you already got the price you want and you have it financed. BTW, don't settle for an A4 if you don't want one.

Find your own financing. Bank or credit union.

Exactly! Is there a credit union you can join in your area? They are the best to deal with for this kind of stuff. Just tell them what you want your payment to be for xx months and they'll tell you what you can spend. DO NOT let the dealers tell you what you can spend...they will surely rip you off. It would also be better to be patient and find the car on your own from a private seller in my opinion. There are still low mile GTO's out there, you just have to find them.

Thanks for the suggestion on the financing guys. My buddy works the desk at the bank that I use so maybe I can get a loan from those guys. I've never thought of joining a credit union, maybe I'll look into that. That way I could check out private sellers too.

Beyond that...if you do get a loan from a bank or CU then I would (to preach what I didn't practice!) wait on a MONSTER. Lots of nicely modded goats out there going for the same price as stock. Hell, with an extra $1000 you could hit craigslist, ebay, and autotrader to find one somewhere around the country and do a road trip.

That interest rate sucks. Regardless of what people (especially the bank trying to get you into a shitty load) tell you, good auto loans are still out there.

And I would not settle. I would find the M6, you will be happier in the long run.

Funny story here.

My bank tried to get me to reconcile my credit card with my auto loan.

The interest rate for this (preapproved) new loan was 5% higher than my credit card and 10% higher than my auto loan (and 60 months at that). I seriously asked them, "Why do you think this is a good idea?"

They tried to tell me making minimum payments on my revolving credit would cost more than this unsecured personal loan. But uh.. I don't make mimimum payments ever...

Moral of story: A good bank or credit union would likely find you a decent loan. Do your car shopping earlier in the week to decrease the chance of purchasing when the credit union is closed (if you are a compulsive shopper, at least).

No fucking way would I want an auto in this car unless it was strip only AND only cared about running the best possible time. Having a M6 in this car is 99% of the fun.

Gerry

If my goat was an M6...I'd 100% still have it :(

No smurfing way would I want an auto in this car unless it was strip only AND only cared about running the best possible time. Having a M6 in this car is 99% of the fun.

Gerry

QFT! :turbonaug