Hi this is my first car purchase and i need to know if im getting a good deal. im 22, just got out of college and i have a fico score of about 730. im getting a nissan 350z base model 300 over invoice which comes out to 25,756. Is that a good deal? Im planning to put down about 15000 down and finance the rest. What is a good interest rate to lock into and any tips i should know about at the dealership? ive never financed anything before, always paid everything in full. im goin today afternoon so tips plz thx

 

Yes, that is a good deal. If the base is what you are looking for, jump on it. Have fun!

 

I would actually also get financing before you go to the dealership, that way you can haggle the dealer on the interest rate. Make sure you have that price in writing, and definitely read over the contract before you start signing. If they change anything while you are there, walk.

Things you should take into consideration:
1) everything is negotiable. If they try to sell you LoJack or an extended warranty, ask for lower prices.

2) if they try the "what do you want you monthly payment to be" crap, walk.

3) Make sure your insurance is ready and waiting for them. You cannot drive off the lot without it.

4) Do not give them your license. Unless you want financing through them, they will run your credit. This actually lowers your FICO score. If you do a testdrive, make sure and state "DO NOT RUN MY CREDIT REPORT" when you give it to them. I know you said you might want to finance through them, but I would highly recommend a local credit union first. Better to walk in to a gunfight with a weapon than nothing at all.

Well, good luck! What color are you getting by the way?

Will (should open a car buying service )

 

Thats a REALLY GOOD deal. I paid $200 over invoice on a Roadster but that was with VPP ( Special program for Nissan employees, friends & family)

 

with a 730 score you should get a 3.9% rate. Maybe even 3.5 if rate are competitve.

 

I had fico score of 751 and I got 4.28 through NMAC.

 

If you paid OVER invoice on a VPP purchase, you got scammed. VPP for Employees is 4.3% under invoice, VPP For associates and friends and family is 2.7% under invoice. If you had a VPP claim number and paid over invoice, you may want to contact Nissan, they don't care very much for dealerships who "modify" the VPP agreements.

 

That's a good price. I got a slightly better price on my DB Base, but I took the standard dealer bath on my trade.

As far as financing, a couple of other things to consider: wherever you get financing (with Nissan or elsewhere), 1) make sure you confirm the APR. The rate might be 3.5% but by the time you pay origination fees, etc. that effective APR might be more like 4.5%. 2) Make sure the loan is a simple interest loan. There are other loan types, like the rule of 78s (I think that's what it's called) where the interest payments are front-loaded. You'll end up paying a lot more for this kind of loan.

Finally, don't count out Nissan. I got a 3.69% APR, simple interest loan through NMAC. I don't belong to a credit union and if I could have done better on my own, it might have been 3.5% -- but I would have had to do all the credit work. Not worth it to me. Incidentally, my FICO is 740.

 

So Nissan do not approve of "Market Adjustments" for VPP, but let it slide for their other Customers...

Interesting

 

You are right about the price but there are few other things that Nissan adds. This is not the first time I Purchased the car with VPP. There are other fee's you have to add like Marketing destination, etc you have to account for. When you add everything, I come out just over invoice. There is no negotiation on VPP they just put the number in to the Nissan Website and it comes out with a price. I know what you are talking about but when everything is add it, it come out just over invoice. I also bought an infiniti with VPP for my sister and it came out just over invoice also. Unless you buy a car as an employee of Nissan, it will come out just over invoice. The friend of mine who gave me the VPP is the Inventory Control Auditor for Nissan and he even told me that with everything added, it will come out just over invoice. The only problem is that there aren't that many dealers that are willing to sell a Roadster with VPP especiall in So Cal. I also had a friend who wanted to buy a Roadster at the same dealer right after I bought mine and they would not even go $1500 under MSRP. They would only go $1000 and that is the Max. The fleet manager told me that the only reason why they sold me the car under VPP was that Nissan is obligated to give them another Roadster with in 30 Days. I also wanted 6speed Pikes Peak White with Frost Interior & a Navi and they only had 2 in So Cal.

Over all I really can't complain about the deal I got. $200 over invoice is a GREAT DEAL. Especially on Roadster in So Cal.

 

Let me know if you can get a better deal on Roadster because I have a friend who wants to buy a Roadster but he wants to get a best deal out there. Unfortunatly I can't get another VPP because I already use 2 of 3 VPP that friend gets a year.

 

That's a very good deal!!!

 

wait ! my girl works for accenture and they get some crazy discount on nissans. Im pretty sure its the VPP. She just bought a vw months ago so she isnt gonna use this discount. Is there away i can use her discount for me?

 

You are absolutely correct. There is NO scamming via the VPP program. I've used this program twice in the last 4 years and it worked exactly the way you described it.

Cheever