I knew some dealers try to rip you but is it really this bad??

[Shad0wXCalibur]

So the wife's CR-V is not doing that great. Transmission is acting a little more funny as the days go by and in general is just a little beat up. And neither of us think it's worth it to spend the money for a new transmission or spend the time looking for a used one (which could be just as bad). She likes the Versa a lot too though and we decided to look at SL hatchbacks since the 2010 base SL is a great car for the money. MSRP was nearly the same as what they had listed on a basic roll up window Yaris across the street . They can shove that Yaris where the sun doesn't shine. Salesguy came out and he actually easily agreed on the price I wanted for it. That's where it ends though... He had "numbers ran" and somehow with $3000 down, $1250 rebate, and the CRV valued at $1200, he said I would "only" pay $340~ a month for 72 months. I flat out told him that was stupid high and him and the finance manager didn't do anything about it. They claimed it was because banks charge dealers high fees to take out loans for the people that buy their cars and the interest rate because our credit isn't that great (but definitely not horrible). Wtf kind of interest rate puts you at $340~ for 72 months? I almost walked on them because they almost wouldn't let me leave when I told them I'm gonna pass since they refused to do better than that...

And unlike when I got my Versa, I never saw any actual papers that showed the price and all with any interest rate or anything. Just a bunch of written down crap with a sharpie. So am I correct in thinking he was full of it?
Modified by Shad0wXCalibur at 9:13 PM 2/17/2010

[roboturner]

No, he wasn't trying to rip you off.

My initial payment was about the same at 327 a month (this is before the extended warranty which bumped it up to 355).

My trade-in was worth slightly less but they were doing 1750 cash back, so it evens out. My credit (like yours) is good but not great, interest rate ended up being about 11 percent.

However, I refinanced through a credit union about a month later, and the payment went from 355 to 292, with a 60 month term instead of a 72 month. It cost nothing to refinance and was a very easy process. That might be something you want to look into.

[superskunk]

$411 for 60 months... horrible credit...

[Codelicious]

$411 for 60 months... horrible credit...

DAMN!!! You pay $411? I thought I was getting killed paying $355.. but than again I do have a 72 month contract or whatever..

However, I refinanced through a credit union about a month later, and the payment went from 355 to 292, with a 60 month term instead of a 72 month. It cost nothing to refinance and was a very easy process. That might be something you want to look into.

Do you just go to the bank and get a loan for the payoff amount and than have your cars title as collateral? I'd like to do this, I'v already paid about 3k off of what I originally owe.

[iluvmyVersa08]

$411 for 60 months... horrible credit...

Wow that's a lot.

I pay less and I got a fully loaded Versa with an extended 7 year warranty (plus paint, fabric and sound protection, and the rush inhibitor) and mine's 60 months.

0.9% was the financing rate when I purchased mine. It was 0% after I got mine

[steed77]

$411 for 60 months... horrible credit...

WOW... 411 x 60 = 24,660.00 I would be driving an old 1000.00 honda/sentra/chevy something for that.

Also 355 x 70 = 24,850.00

Save for 2-3 years(the difference of the loan) and pay CASH for your next one..

If you want to stick "the man" pay cash...

[Bubs360]

I picked up my '08 Versa SL (HB 6MT) with 9,935 miles for $11,800 and 60-month financing for $225/month. Based on my math that is $196/month principle and the rest is interest. It seems that I am doing pretty well here. In the end, after interest, it will be $13,500.

[superskunk]

bad credit will do it kids...

[nate361]

bad credit will do it kids...

yes it will lol. i was paying $461 for 72 months on an astra that my grandma bought me.

but my versa is $351 for 60 months.

[sinha0713]

saved and fully paid. im living the high life

[Rand0m0sityxX]

Is that with or without the VPP?

It was with it. We were supposed to be paying $17,000 even.. With ttl around $19,000..

Somehow tho with $3k down, $300 for the vpp, $1250 for the rebate, and $1200 for the crv we were still financing $17k.. It didn't add up right. After looking at it, they were trying to sell the car for $19k plus ttl.. Thats all i can come out with to see us financing $17k. -.-

[raiders4403]

hahahaha yea my wife pays $401 for 72 months for her '07 sedan !! she wanted it in her name with NO credit, so thats what she gets...but the worst part is 17.99% intrest rate !!! wtf right. im going to refinace in my name this month. no more!

[casionerd]

I can't remember what I paid for mine. All I know is it's 410.00 per month for 36 months and I have 26 months to go.

What are the details on this CRV (year, miles, etc.)? I think you could get more for it selling privately and then you'd have a better down payment.

Also, if you're a member of a credit union, see what interest rate they'll give you. If not, check with your bank.

[Rand0m0sityxX]

I can't remember what I paid for mine. All I know is it's 410.00 per month for 36 months and I have 26 months to go.

What are the details on this CRV (year, miles, etc.)? I think you could get more for it selling privately and then you'd have a better down payment.

Also, if you're a member of a credit union, see what interest rate they'll give you. If not, check with your bank.

its a 1998 Crv with 165k on it, lx model. But it has a bad transmission. And Nissan gave me that number without even looking at it. I doubt i can even get $1k privately with the transmission.

Were through Chase. But He did have in mind to get a preapproval from a loan company here.

I just got a call from the other nissan, and they're trying to fix the error of the other one. They have better and accurate numbers.

[Bubs daddy]

If you're credit isn't that great, that is why the payments are so high. You probably quoted a rate of 12-15% or higher.

Then add in the junk fees. Doc fee, the "weather package," extended warranties will often be included even though you didn't ask for them...all rolled into the payment.

They will also give you a higher interest rate even if you qualify for a lower one. That's why I would recommend getting the financing first, through the credit union or your own bank.

If you finance the car through the dealer, the lenders they deal with will give them an interest rate, say 5.9%. On the statement it will state you're paying 7.9%. Where did the other 2% go? The dealer and the bank. they usually split it or go 40-60, 30-70, something like that.

If you have just average credit, you're going to pay a higher interest rate. If your credit is poor, bend over because if you want a new car, you're at their mercy.

$340 x 72 months is $24,480. Did you owe anything higher than $1200 on the CRV? If you do, then he may have rolled the negative equity into the new deal. In any event, it's probably because you mentioned your credit isn't great.

May be best just to fix the transmission. You'll save in the long run.

[Rand0m0sityxX]

If you're credit isn't that great, that is why the payments are so high. You probably quoted a rate of 12-15% or higher.

Then add in the junk fees. Doc fee, the "weather package," extended warranties will often be included even though you didn't ask for them...all rolled into the payment.

They will also give you a higher interest rate even if you qualify for a lower one. That's why I would recommend getting the financing first, through the credit union or your own bank.

If you finance the car through the dealer, the lenders they deal with will give them an interest rate, say 5.9%. On the statement it will state you're paying 7.9%. Where did the other 2% go? The dealer and the bank. they usually split it or go 40-60, 30-70, something like that.

If you have just average credit, you're going to pay a higher interest rate. If your credit is poor, bend over because if you want a new car, you're at their mercy.

$340 x 72 months is $24,480. Did you owe anything higher than $1200 on the CRV? If you do, then he may have rolled the negative equity into the new deal. In any event, it's probably because you mentioned your credit isn't great.

May be best just to fix the transmission. You'll save in the long run.

Crv is paid off..

And Theres alot more wrong with it, and I don't feel its worth fixing, being the age and its worth and stuff. I'd just rather another car. Something new or newer that would be better and longer.

[CrankyVersa]

3100.00 trade in on my truck, 500.00 cash back and 5.7% for 72 months = 276.00 a month. This math works for me LOL

[Shad0wXCalibur]

Well with tax, title, etc. on the price I wanted being a little over $18,000 so let's just say $18,100-$3000 down payment-$1250 rebate-$300 for discount-$1200 for crv's trade in leaves $12350 to be financed. $340X72 is $24480. It's not like that was even a little off. I flat out told him that was WAY off even with a high interest rate and you messed up big time and better fix that. But they said what I had in mind was "unreasonable." That's when I walked. Mind you, this wasn't the same dealership I got my Versa so I'm gonna try my luck in the future at that one and let them know ahead of time I'm not playing games. I pay $315 a month for my Versa at 60 months and I only put $2000 down at that time and there were no rebates at that time either. The interest rate on mine is good but that doesn't account for the HUGE difference when I was trying to buy another Versa for my wife.

Edit: Just for fun, I played with the edmunds auto loan calculator, I had to put in 25% interest to get to the figures they were trying to shove at me. If I'm not mistaken, the only place you can even get auto loans with ridiculous interest rates like that are buy here, pay here you-have-400-credit-and-bankruptcy-but-we-can-give-you-a-loan type places. My credit is ~700. Wife's is lower. Not sure what exactly but mine should help offset it at least a little.

Modified by Shad0wXCalibur at 6:42 PM 2/18/2010
Modified by Shad0wXCalibur at 6:47 PM 2/18/2010

[iluvmyVersa08]

hahahaha yea my wife pays $401 for 72 months for her '07 sedan !! she wanted it in her name with NO credit, so thats what she gets...but the worst part is 17.99% intrest rate !!! wtf right. im going to refinace in my name this month. no more!

Why are all of your payments so high!???? YIKES!

I have the fully loaded Versa ... FULLY LOADED (meaning all options from dealer w/ the 7 year warranty) and it's $382 per month for 60 months (that cost includes the 2100 trade in and 0.9% financing and 2000 down payment from me) ... Even at that, yes the car is costing me a bit of money, but I got every feature w/ that!

I can't believe your interest rates are so high. Do dealerships not give you low interest rates? Ours are usually always at 0% financing for 60 months. At the time I got 0.9% financing, but my brother just bought the SE-R in Sept/09 and he got 0% financing from Nissan directly. We didn't have to get loans through banks or anything.

I can't believe how different it is over there.

[Rand0m0sityxX]

Why are all of your payments so high!???? YIKES!

I have the fully loaded Versa ... FULLY LOADED (meaning all options from dealer w/ the 7 year warranty) and it's $382 per month for 60 months (that cost includes the 2100 trade in and 0.9% financing and 2000 down payment from me) ... Even at that, yes the car is costing me a bit of money, but I got every feature w/ that!

I can't believe your interest rates are so high. Do dealerships not give you low interest rates? Ours are usually always at 0% financing for 60 months. At the time I got 0.9% financing, but my brother just bought the SE-R in Sept/09 and he got 0% financing from Nissan directly. We didn't have to get loans through banks or anything.

I can't believe how different it is over there.

Interest rate depends on your credit score. 0% is for like a score of 700 and up or something.

Alot of these are prolly due to lower scores or limited history in credit.

[iluvmyVersa08]

Interest rate depends on your credit score. 0% is for like a score of 700 and up or something.

Alot of these are prolly due to lower scores or limited history in credit.

That sucks for you guys over there.

Everyone here, when you go finance a car, you can get the 0% financing. I was approved, my younger brother was approved, my dad gets approved. I've never not heard of anyone paying more than what the dealer is advertising.

[GFresh]

Here was my dealer story in a review I wrote about Team Nissan in Marietta, GA:

Checked my Equifax credit score, stated I should get anywhere from 5-7% APR. Checked Nissan.com, built a automatic Versa with a/c with no extras for about $12k and saw they were offering low APR specials. Not too bad, so I went to Nissan of Marietta to test drive one and see how much it'd actually cost.

So of course they put me in the most expensive one to test drive, very nice, not the one I want. Found an automatic one with a/c for $14k, so I said that's more than I want to pay and that's more than on the site. They said not to worry, they'll get me the price I want and to just wait to speak to the finance guy and fill out forms.

2 hours later I got to the finance guy and he offered me $450 a month for 5 years at 18% APR. As great of a deal as almost $30k for a $12k car is, I declined and asked what the deal was. He said they get my credit score from an Equifax score that only they can see and its 60 points lower so I'm lucky to only get 18%.

When I said I only wanted a price quote anyway and I wanted to leave he closed the door and got the second guy I spoke to. He was pretty irate saying that he already detailed the car for me to buy that day and that I had said I was going to leave there with a car. When I said that I never agreed to buy a car and that it's more than on the site, he accused me of lying. I showed him the price via their website on my phone and he said they could strip down the car to get it to that price if I wanted even though it was the same car.

I declined and said I wasn't planning on being there for 2 hours so I was running late for a meeting because of them. He mocked the car I drove there and said it'd be better to go to the meeting in a new Nissan. I tried to leave again, the door was closed on me and the third guy I spoke to came back in. Finally I walked out and will never return, regardless of the follow up phone calls.

Two days later I called CapitalOne, got a 15k loan at 6-7% APR depending on year of the car. Went to the Ford Dealership across the street from Nissan, had them take a 2008 SL with power options, 6 disk changer, cruise, a/c, etc. off Nissan's lot and sell it to me cheaper. So I did end up getting a Versa from Team Nissan, just didn't buy it from them.

[Promise Land]

Gfresh,

Glad you have a Versa now, but wow about Team Nissan. And welcome to the site. Please post your reviews of both dealers in our Dealer Review thread so other members won't get stuck in the same situation.

[Shad0wXCalibur]

Wow Gfresh. It sounds like they were almost getting borderline abusive with you. They will definitely lose business that way. I don't care if your job is to sell cars at the highest profit you can. That is not the way you treat customers and you will lose profit.

The salesguy I had used a few super cliche lines like "what will it take to get you in this car?" or "you love the car, right? wouldn't being able to drive this brand new car make it worth these payments I'm offering you?" Um. No. It's a Versa. Not an Altima. Why would anyone be looking at a Versa if they intended to spend $400+ a month for 5-6 years?

So now that I'm done with my little rant, I'd like to say that the wife did not end up with a Versa or any financed car whatsoever. Even with the somewhat large downpayment and decent credit, everything was declined, new or used with no specific reason as to why. The only things I can come up with are that we are still kinda young, have only lived at the same place for a year and have not had long term jobs but I have no negative marks or high credit card balances. She has a few negative marks but they are old and her cards are nearly paid off. But this does not have a grim ending. We happened to find an older 99 Saturn SL2 with 79k for $3500. It was pampered. It literally looks almost like a new car inside and out and runs like a top while being super quiet and smooth on the road considering it's an 11 year old car now. It came with keyless entry and trunk release. We have no car note now (besides mine) and a decent car and should be able to save plenty of money for the next car that just may very well be paid in full. I like my Versa but next to that Saturn that isn't bad at all, I feel like I'm paying a LOT. Maybe when my Versa explodes, I'll get a used 2011 model Versa in full or something

[GFresh]

Wow Gfresh. It sounds like they were almost getting borderline abusive with you. They will definitely lose business that way. I don't care if your job is to sell cars at the highest profit you can. That is not the way you treat customers and you will lose profit.

The story continues as I found a Versa on the Nissan dealership's website I liked so I went to the Ford dealership across the street and had them take it off Nissan's lot so I could buy it from Ford instead (very nice people).

Two days after I bought it I noticed the gas door switch wire had popped out of the back of the plastic switch, but it was dark so I couldn't see how to put it back in, so I stopped by Ford. They said it's under warranty and drove me over to Nissan to make them fix it. Nissan wanted me to make an appointment to fix it Monday-Friday from 7am-3pm. When I said I work 7am-3:30pm, they said that's too bad, that's the only time a special technician could look at it.

So naturally I left and when it was light out just figured out how to pop the wire back in myself. Go Nissan dealership!