Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Prices Paid: Buying & Leasing Experiences Toyota Camry Prices Paid and Buying Experience
7936 messages, Last post on Dec 08, 2009 at 9:52 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
|
it gets pretty complicated but i will try to only put the information i think is needed. my friend has to get some one off his current lease contract(reason unknown), which i was told is not possible. it is a 07 jeep commander v6 in excellent condition. his payoff on it is roughly 19,700 with 14 months left on the lease. the dealer offered him 15k for it as a trade in, so he is already going into this deal upside down -$4700 now, the car he was looking to finance ( he doesn't want to lease again) is a 2010 Camry se w/ sunroof and 16' aluminum rims and i think the sport package, im not sure... but i think thats about it. so after a few days of trying to bring the price of the car down, and the offer for the trade in up, the numbers are looking something like this trade in negative $4700 camery se 4 cyl, auto, with 16' aluminum rims, sun roof ( possible sport package?) including destination charge and the other stuff beside tax tittle etc... $25,100 he is not putting any money down and they are giving him 9% apr  72 months, his monthly payment was quoted to be $593.00 i dont know what to think of this deal, especially because of the trade in with negative equity. on 1 hand i think it is ok, because #1 he is not putting any money down #2 he is getting out of a gas guzzler and into something much cheaper to fill up( some savings right there) #3 i dont know if he could get a better offer on his jeep, or is 15k a bad offer?kbb has it at 16k for trade in #4his credit is pretty much shot, and his co signer is barely pushing 670 fico, so i dont know if the 9% apr is good or bad for his situation, (im guessing 9% is as good as it will get)i could very well be wrong #5 probably his most important reason, he needs to get out of the lease to remove someone, asap. but on the other hand #1 if it were me i would not pay $25,100 for that car, but i do know dealers like to do some sort of seesaw when it comes to buying your trade in, than selling you a car, like they will give you a "good" price on your trade in, than try to kill you on the price of the car, or vise versa #2 i dont know if i would obligate myself to a 72 month term of 9% apr but that is just me, his options are limited, is this the best deal he can get? is this deal good, bad or mediocre?
|
|
|
When I got my car I purchased the Premium Coverage which can be canceled within 60 days. It includes the oil changes at 5,000 miles and the 15,000 30,000 45,000 services. They said it was a $2500 value and I got it for $1395. Yesterday I called different dealers asking how much oil changes ($40 each), 15,000 ($97), 30,000 ($450), 45,000 ($200). I came to approx $1300 (includes tax) which is pretty much break even. Oh it also comes with road side assitance but I already have AAA. Seems like I could leave this money in the bank until I need it and could go to a mechanic besides toyota. Is this coverage worth it or would I be better of canceling it? Thanks, Chris
|
|
|
Replying to: sam187st (Sep 10, 2009 6:02 pm)
|
|
|
Replying to: chris789 (Sep 10, 2009 7:34 pm) However, at the end if it makes you feel "better", go for it.
|
|
|
Replying to: doubles3 (Sep 11, 2009 7:21 am) he has went to a few used car dealers, none of which were giving him a decent offer on his jeep, but besides all that, what exactly in this deal looks enticing to you? do you like the price on the car of $25,100? do you like the apr of 9% do you like the negative trade in offer of $15,000-$19,700=$4,700 do you like the no money down part? can you please elaborate on your reply, because all i under stood in your post was, i think this is a good deal for a fool with no money.
|
|
|
Replying to: sam187st (Sep 11, 2009 8:03 am) I just don't like when people buy expensive stuff with no money down (i.e. no vested interest) and than are surprised that at some point later they own more money than it is worth and looking for way out. Personally, If I was him, I would trade in my jeep for a used car 2-3 year old and let someone else eat the 20% depriciation on first year. None of the items you listed would be acceptable to me. Yet, your friend may find them totally acceptable.
|
|
|
Replying to: doubles3 (Sep 11, 2009 7:25 am) |
|
|
Replying to: doubles3 (Sep 11, 2009 8:20 am) he was trying to get him self into a used car, he was looking at exactly what you had suggested 2-3 year old ones, but for whatever reasons he could not come to terms with them, than he tried a new car dealer and got the above what i posted. his new payment of $600 would be a little north of $100 he paid monthly for his jeep, im not defending any of his decisions or saying they were the correct ones but his situation is atypical. i guess what i really want to know are the following- what is a "good" price on that car what would be a good offer for his jeep, a real one that a dealer would give you, after getting the "good" price on the camry where does this 9% apr stand, along the terms of his credit being bad, besides the 2 new cars he had bought never being late, with a co signer with a 670 fico the reason he doesn't put any money down is a different thing all together, but i don't think it has any baring.... with the negative equity and the price of the car after taxes etc.... im assuming the car is now about 31k 9% apr for 72 months, is 600 a reasonable monthly payment, taking into account that there will be no money put down?
|
|
|
Replying to: chris789 (Sep 10, 2009 7:34 pm) |
|
|
I can get a used certified 2009 Camry LE (AT) for $18500 at my local dealer. It has about 10K miles and come with the extended 100,000 miles or 7-year/ warranty. OR the Brand new 2010 Camry LE (AT) for $22000. The extended warranty draws me towards the used 2009. What do you think is the better buy? Thanks |
|
You are here:
Forums
Prices Paid: Buying & Leasing Experiences Toyota Camry Prices Paid and Buying Experience
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
2010 Toyota Camry
Browse by Board
Browse by Topic
Today's Chats
