From what I heard my mom did everything wrong in buying the car, but I feel she paid a ridiculous price for an Altima 2.5S base model
$6k Downpayment and $380 a month for 5 years which ends up in a total cost of $28,800 before interest. Now I don't even know where to start as even at sticker price with tax and all other charges there is no way it should touch that number, so did the dealership just see my mom was an idiot and exploit it? I'm assuming the 2008 models are coming out pretty soon too so the price should be even lower. What would be a good estimation of what the price should be after a bit of haggling? Or even at sticker price.
Best part of this whole ordeal was that my mom claimed she got a V6 when I saw it was a 2.5 and told her it was V4, she called me an idiot who didn't know what he was talking about and claimed 2.0 was v4 while 2.5 was V6, and didn't believe me until I showed her nissan's web point at which she brushed it off as it was nothing
How did the Altima sedan end up costing my mom this much?
Re: How did the Altima sedan end up costing my mom this much? (MJK21)
$360 a month, times 60 months = $22,800. Plus $6,000 = $28,800. Since the $360 includes interest, I am not sure where you get that the $28,800 is before interest. Typically, you will pay anywhere between $12 and $25 per $100 in interest depending on your credit. The list price on a stripped 2.5 is, I beleive $20,900. I could be wrong but it isn't far off if I am. Then you assume you pay anywhere from $1800 to $2500 for tax, license and fees depending on where you are. So, assume that it was $2500. Then assume list of $20,900. That gives you a purchase price of $23,400. Subtract the $6k and you have $17,400 financed. Assume worst case and say it is $25 per $100 financed. That means the interest should be in the neighborhood of $4,350 for a total of $21,750. So, the question is where is the difference coming from. Well, did your mom buy an extended warranty? Did she buy clear coat for the paint? Did she buy the fabric protector for the seats? I can pretty much guarantee she bought one or all of these to get it to this price. Did your mom get flat out ripped off? If she bought these no but she might not have needed some or all of these. If she didn't buy any and the price was that, than, yeah, maybe she did.
Re: How did the Altima sedan end up costing my mom this much? (MJK21)
My mom has an 06' Altima leased for 39 months, she put $2000 down and is paying $250 a month, It's a 2.5s but with all the bells and whistles. I'm paying a lease too on my coupe, $2800 down, $280 a month for 60 months, the good thing about this is that I can trade the lease in whenever I wan't and always have a new car .
People get really high or low prices depending on credit scores, that's what banks, dealers and Nissan look at first. If you have really good score you can pretty much get anything you wan't as long as you pay it and keep that score up. When you get bored of the car take it back to the dealership and ask the dealer to buy the car from the bank (Nissan in this case) and the dealer put's the money left over from what the car's value to what they got it for from the bank (really cheap) in you new car's down payment.
Is she financing or leasing?
The price for a base Altima 4-door is around $20,500 if I'm correct, but people in this forum get it for under invoice all the time.
Anyway, if your mom's car is a lease you should do this but credit score is really important, also with financing. Good luck.
People get really high or low prices depending on credit scores, that's what banks, dealers and Nissan look at first. If you have really good score you can pretty much get anything you wan't as long as you pay it and keep that score up. When you get bored of the car take it back to the dealership and ask the dealer to buy the car from the bank (Nissan in this case) and the dealer put's the money left over from what the car's value to what they got it for from the bank (really cheap) in you new car's down payment.
Is she financing or leasing?
The price for a base Altima 4-door is around $20,500 if I'm correct, but people in this forum get it for under invoice all the time.
Anyway, if your mom's car is a lease you should do this but credit score is really important, also with financing. Good luck.
Re: How did the Altima sedan end up costing my mom this much? (Carlosf22)
she got 9% financing and I forgot about the 6 year warranty
Re: How did the Altima sedan end up costing my mom this much? (MJK21)
9% is pretty high. People in the mid 600 Credit Score range are getting high 6% or low 7%. That could play into it. If she got the full package 6 year warranty, that can go for quite a bit, then add in that she financed it, and yeah, she is getting pretty close to that $28,800 range. I don't think she got ripped off, I also don't think she got a stellar deal either. Looks like she basically got it for MSRP. Many people on this board have gotten it for as much as a couple grand below MSRP. Sounds like in some ways the answer to your original question was, yeah, they did see her coming.
Re: How did the Altima sedan end up costing my mom this much? (hattrix)
yea nissan is having a special of 0.7% interest on there 07 altimas. Does it have the premium package? navi? if not, i think she got a really bad deal.
I'd say your mom definately got ripped off. I just bought a base Altima 2.5S and got my payment at $380.02 for 60 months. I got $500 grad cash and put $400 down.
They originally offered the car to me at $409 for 72 months which comes to $29,448 with everything, interest included. It sounds like your mom just accepted their first offer.
They originally offered the car to me at $409 for 72 months which comes to $29,448 with everything, interest included. It sounds like your mom just accepted their first offer.
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Presscott707
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Re: (bizz1441)
i just got a quote off of nissanusa.cam and a 2.5s with everthing is 29,385. Black with black leather, CVT auto tranny, Fog lights, Premium package, technology package, floormats, trunk mat, aluminum kick plates, and a moonroof wind deflector. what did your mom get for options?
Re: (bizz1441)
Bizz,
How can you say she got ripped off when you don't know what she got? The problem with the question, as I tried to imply in my answer, is that there isn't enough info. No, she didn't get a great deal. That can be assumed. Did she get a bad deal or ripped off? Probably not. They could have sold options you didn't have on yours. They could have given her a higher interest rate than you. She could have bought a warranty. The point is that she could have done better but the dealer didn't rip her off.
How can you say she got ripped off when you don't know what she got? The problem with the question, as I tried to imply in my answer, is that there isn't enough info. No, she didn't get a great deal. That can be assumed. Did she get a bad deal or ripped off? Probably not. They could have sold options you didn't have on yours. They could have given her a higher interest rate than you. She could have bought a warranty. The point is that she could have done better but the dealer didn't rip her off.
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bone_stock_240
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Re: How did the Altima sedan end up costing my mom this much? (MJK21)
Best part of the whole post was how you tried to be a know-it-all, and tell your mom she has a V4.MJK21 wrote:Best part of this whole ordeal was that my mom claimed she got a V6 when I saw it was a 2.5 and told her it was V4, she called me an idiot who didn't know what he was talking about and claimed 2.0 was v4 while 2.5 was V6, and didn't believe me until I showed her nissan's web point at which she brushed it off as it was nothing
Re: How did the Altima sedan end up costing my mom this much? (bone_stock_240)
No Bone, the best part is that when he reads it, he will be thinking, "It is a V4!"
Re: How did the Altima sedan end up costing my mom this much? (hattrix)
She didn't get any extra options, just extended warranty, somehow paid 24.5k BEFORE tax and warranty.
Well I just saw the invoice last night, and the price I gave $29k...was before interest charges, total cost of the car is $38k with all interest charges, heh insane.
I know they had agreed to like $360 or $370 a month for 60 months, and now its liek $407 for 78 months, I'm guessing when my mom went to sign the contract they changed the terms and she just signed without looking as I called her and she didn't know wtf I was talking about.
Well I just saw the invoice last night, and the price I gave $29k...was before interest charges, total cost of the car is $38k with all interest charges, heh insane.
I know they had agreed to like $360 or $370 a month for 60 months, and now its liek $407 for 78 months, I'm guessing when my mom went to sign the contract they changed the terms and she just signed without looking as I called her and she didn't know wtf I was talking about.
Re: How did the Altima sedan end up costing my mom this much? (MJK21)
um, $407 for 78 months is $31,746. Where do you get $38k?? Also, are you sure it is 78 months??? I have never heard of a 6.5 year loan. Are you sure it isn't a 72 month loan. That puts it at $29,304 which is high but at her 9% interest rate, coupled with a 6 year full warranty isn't that high.
Re: How did the Altima sedan end up costing my mom this much? (hattrix)
6.5k downpayment, and it said 78 months,
Modified by MJK21 at 11:32 AM 8/2/2007
Modified by MJK21 at 11:32 AM 8/2/2007
Re: How did the Altima sedan end up costing my mom this much? (MJK21)
Question, I talked to someone who was with my mom when they were throwing out the prices and agreed to ($360/60months) and then completely changed on contract, can that be a bait and switch? Can she do anything about that or no?
Re: How did the Altima sedan end up costing my mom this much? (MJK21)
I just bought my first Altima a month ago. (Btw I'm really liking this car, but last week was already rear-ended. GGRRRR )
Unfortunately, I doubt there is much your mother can do. My sister had situation with a car contract when she purchased a truck. The dealership did something a long the lines of deducting her down payment and then ended up putting the amount back in. Only when she had her office CPA look at the contract he informed her she had gotten screwed. We went to that particular dealership and raised unholy . They didn't even want to speak to her, but they finally came around when we sat there in the dealership and called the local TV station's investigative reporter for a good opportunty for a story on a very large dealership in the area.
In my sister's case we could prove that they ripped her off in the amount of her down payment. In your mom's case, just not reading what the costs, terms, and amount of month payment was probably won't get her very far.
Unfortunately, I doubt there is much your mother can do. My sister had situation with a car contract when she purchased a truck. The dealership did something a long the lines of deducting her down payment and then ended up putting the amount back in. Only when she had her office CPA look at the contract he informed her she had gotten screwed. We went to that particular dealership and raised unholy . They didn't even want to speak to her, but they finally came around when we sat there in the dealership and called the local TV station's investigative reporter for a good opportunty for a story on a very large dealership in the area.
In my sister's case we could prove that they ripped her off in the amount of her down payment. In your mom's case, just not reading what the costs, terms, and amount of month payment was probably won't get her very far.
Re: How did the Altima sedan end up costing my mom this much? (MJK21)
Ok, now I see what you mean MJ, ok, yeah, she got ripped off. Word of advice, NEVER let your mom go to buy a car alone again. The first thing I look at when I buy a car is the dollar amounts on the contract. If it is one penny different than what I agreed to, I won't sign the contract. There isn't anything she can do because there is nothing in writing saying she agreed to a different price. It boils down to Caveat Emptor. Buyer beware. It is the buyer's responsibility to make certain.
The options left to you are to go into the dealer and see if they will correct it. They probably won't. If they won't, then make it your life's mission to prevent another living soul from going to that dealership. That is about all you can do.
The options left to you are to go into the dealer and see if they will correct it. They probably won't. If they won't, then make it your life's mission to prevent another living soul from going to that dealership. That is about all you can do.
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audtatious
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Re: How did the Altima sedan end up costing my mom this much? (MJK21)
She can take them to court. A dealership here is known to do that and has lost a couple of lawsuits because of it.MJK21 wrote:Question, I talked to someone who was with my mom when they were throwing out the prices and agreed to ($360/60months) and then completely changed on contract, can that be a bait and switch? Can she do anything about that or no?
Always re-check everything before signing the paperwork.
Re: How did the Altima sedan end up costing my mom this much? (audtatious)
want to know if she got ripped off ???
9% interest the out the door price includes the 8k down so 19/22/18/21(financed)407/mth @ 60 mths = 27,606.56 out the door 407/ mth @72 mths = 30,579.08 out the door
380/mth @ 60 mths= 26,305.88 out the door380/mth @ 72 mths= 29,081.20 out the door
that is your price out the door for the Car depending on what she is actually paying for financing
REMEMBER THIS IS JUST THE PRICE SHE WAS CHARGED AND DOESN'T TAKE TOTAL INTEREST PAID AT END OF LOAN INTO EFFECT
i'm pretty sure my calculations are correct if you find and error just let me know
9% interest the out the door price includes the 8k down so 19/22/18/21(financed)407/mth @ 60 mths = 27,606.56 out the door 407/ mth @72 mths = 30,579.08 out the door
380/mth @ 60 mths= 26,305.88 out the door380/mth @ 72 mths= 29,081.20 out the door
that is your price out the door for the Car depending on what she is actually paying for financing
REMEMBER THIS IS JUST THE PRICE SHE WAS CHARGED AND DOESN'T TAKE TOTAL INTEREST PAID AT END OF LOAN INTO EFFECT
i'm pretty sure my calculations are correct if you find and error just let me know
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