Help with the math PLEASE!
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Help with the math PLEASE!
I was always bad at math! How do I calculate a % above dealer invoice? And then how does that figure get me a monthly payment? I think I have a major number block in my head today. Thanks for any help you can give. I want to go into a dealer and be totally prepared and not be scammed.
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Here we go...
If the dealer's invoice is X then if you want to pay 5% over invoice your price is 1.05 * X.<p>Let's say Y = 1.05*X. Then go to the enclosed URL and calculate your monthly payment based on: Y, loan term and interest rate.<p>Notes: <br>- Dealer will bombard you with other charges like PreDelivery Inspection, advertising etc. Be prepared.<br>- Do not let the dealer know if you have a trade-in until you agreed on price. That would let him make things fuzzy.<br>- Do get a loan pre-approved. Shop around. Do NOT let dealer help you arrange financing unless better than your best rate.<br>- Decide what is the monthly payment you can afford in advance, but DO NOT negotiate on monthly payment terms. It is not his business how much you pay and whom (if you got your preapproved financing).<br>- Negotiate only on percent over invoice.<br>- Walk out if necessary. There are a lot of cars.<p>I got a $1200 over invoice deal (average) on a tqms, which was pretty rare at the time of my purchase. You can do better.<br>
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online financing
<br>I got my loan at 6.99% (3 years) through carfinance.com <p>It's very easy and quick, and the rate was good (this was 6 weeks ago-it might have gone down since Prime has gone down).<p>I walked into my Audi dealer as a cash buyer which made it much easier to negotiate.
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Ben3.2TT@BC
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Mar 3, 2005 09:33 AM
