I recently visited a Honda dealer with the intentions on buying an 09 LX civic....

H

HeyHowAreU

New member
...The dealer started at 365/mnt? with 2000 down, I knew this was a bad deal, anyway I got him down to 260/month for 60 months with 2000 down. I am asking if this 260 a month for 60 months with 2000 down is a good deal. What is the ideal payment for this type of car where i get a good deal, and also the dealer makes a profit?( Not too much profit) By the way first time buyer good credit. Thank you
 
If you really want an 09, shop around for the best price, first.
You now have the info to set up financing. See what your bank will charge you for interest with that dollar figure in mind. You now know how your credit is and what the interest rate should be. They will calculate your monthy payment.
You don't buy a car on the monthly payment, only. You need to know the price of the vehicle and the interest rate being charged.
How did they reduce your payment by $100? Did they lower the price of the vehicle? Did they come up with an interest rate that really is not available to you? Did they take off the back end purchases like a service warranty, mop and glo, high end ad-ons? All of which you will try to be sold later.
To make a large purchase, you want to be armed with as much information prior to signing anything. Spot deliveries are getting to be the norm. They get you sign and drive only to call you back with bad news on financing and then change the contract. Don't let this happen to you!
 
Jeez. Cars are expensive these days. Id just buy something used. Even if it's only a year old, it drops the price SIGNIFICANTLY. Being the first to drive a car off the lot ups the price by thousands.

A 60 months contract for a car you'll probably want to get rid of before then? Perhaps re-evaluating your options would be a good idea.
 
I'm leasing a subaru impreza 2008 for $250 a month no money down. The plus, I get a brand new car every 3 years, the downside, I never own my car. But I probably wouldn't be driving the same car for more than 7 or so years. If I wanted to buy a car in NY it would be about $450/month no money down. for 5 years. I was told by my finance teacher to never have a loan on a car for more than 3 years, because with normal wear and tear and mileage the cars value will depreciate drastically. Driving it new off the lot takes thousands off the sale price.

I'd shop around before buying, and tell other dealers what he offered you, they would probably give you a better deal.
 
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