I think I paid tooooooooo much for VERSA S Saphire Blue! (warning: Long story)

[FAAW11]

I need help or answers!

My wife and I were in the market to buy a new car and she wanted the VERSA. On May of this year, I took my wife and two little kids that late evening to a local dealer here in NJ to look around. We test drove the SENTRA and the VERSA. We ended up preferring the VERSA. My wife wanted the car that same day. We ended up trying to make a so called "deal" with the salesman.

What we ended up dealing at the end was:$255 per/month for 72 months = $18,360 PLUS we put in $2,260 AS DOWN PAYMENT!WE WANTED $260+ FOR 60 MONTHS! (MIND YOU, WE HAVE EXCELLENT CREDIT.) So from my calculation I think this $15,250+ (invoice) car cost us $20,620 (Tax, title, etc.)!

BTW, the VERSA is an S model ~ Saphire Blue ~ Power Package ~ Pin Stripes ~ Splash Guards ~ Floor and Trunk Mats

I didn't understand why we couldn't get the 60 month deal we wanted . I wanted to walk away already but my wife really wanted it so we ended up buying it the same day. We were at the dealer until 10:50pm with my kids sleepy and crying throughout the paper signing process! The man at the paper signer process kept on selling us the warranty while I told him skip the selling of the warranty and the Lo-Jack and other non-sense, and while my kids were crying also (it was late, past their bedtime). He still kept on insisting on selling us the stuff I didn't want to hear at that moment, he tried to give us a cheaper price for the warranty. Was very ANNOYING!

Another reason why I am more angry about the car I got is that. Last week while I was hand washing my car in my garage, I noticed there was a problem with the plastic portion of the car that touches the front windshield outside the vehicle. The plastic portion was bent and every time water would go on the windshield, the water would go through and inside the hood where the engine is. (I will post pic later to show the faulty part.) After seeing the faulty part of the car, I brought it to the dealer and they said it will take a day or so to fix it. I cant believe I have to get a NEW car "fixed" or have a part of it repaired.

Now, I see people's posts stating what they paid for their VERSA. I see that I did overpay and that I could have gotten a better "DEAL" or a better model. I feel like i've been cheated and swindled by paying so much for this car! I haven't read my contract yet on what the stipulations are or what can I do after signing the contract. I need advise on what I can do and what I can't do. It's really terrible how they steered us to buy the car for this price!

(Sorry for the long story, I just needed to tell the whole story.)

[bone_stock_240]

ah no, that sucks. You shouldn't have let your wife's desire to get the car that day, pressure you guys into buying the car that day. The dealer probably realized that he had the upper hand.

[matt_a]

How much did you pay for the Versa (before tax, tags, trade or down payment)? What interest rate did you get? If you can "clean up" the math for me a little, I can tell you if you got ripped off or not. Sorry to hear it was a lousy experience for you.

[skwerl]

That does seem like a lot... I paid $19810.03 Canadian after tax and fees, for a sapphire blue S hatch with what you call a power package.

[FAAW11]

Thanks for the replies!

I will post the exact amounts, fees, rates etc. later tonight when I get home (i'm at work right now).

Yeah, the experience wasn't that great. But we still like the VERSA . . . it's great on mileage per gallon and its not a gas guzzler!

[br4dysays]

hmmm idk if this helps but...

my payments are 276$ i believe @ 60 mths @ 9% (first car loan, no co-signer) blah blah

and i only put 1500$ down, sounds like something went bad?

i know i paid 14,400$ + TTT for the car before interest comes into play and waht not

[biggie]

Definatley seems high.

I'm at 16,100 + tax, tag, title.$2500 down$332/month 3.9% for 48 months

If nothing else go to a credit union or something and get refinanced, cause at 72 months I'm sure the interest is high.

[HareBrained]

Don't take this as an attack, but you set yourselves up for what happened. You should never buy a car on the day you first test drive it. You should never take delivery in the dark. (Note that a dealer car take a totaled car and sell it as NEW if it's never been titled.) You should never let the salesman know "you've gotta have that car." You should have researched your financing options. And you shouldn't have negotiated around a monthly payment. You should have negotiated the sales price, and then changed length of pay back to suit your finances. Dealers have been taking advantage of people like this for years.

Unfortunately, nothing was illegal unless they charged you for something you told them you didn't want. (Note, they can charge you for things you didn't tell them you didn't want because you signed a sales agreement with it "clearly stated" what you were buying.) You should have insisted to your wife that you do the deal the next day.

You can refinance if the interest rate is above your bank's going rate. Banks don't charge for car loans like they do for mortgages. That'll take some money out of the dealer's pocket. You can lodge a complaint with the Better Business Bureau. If you find that you paid over MSRP, you can lodge a complaint with Nissan USA. You can publicize the experience and warn others to stay away from that dealer.

In most states, you can return the car within 3 business days without penalty. It's a "cooling off period" that allows you to get out of a bad deal. You really should have looked over the contract and financing papers the next day.

I hope you're next buying experience goes much better than this one. Caveat Emptor.

[Woogie]

I agree with Hare. You should have done more research, because it appears that you made just about every mistake in the book. You went in unprepared, and you got burned.

You should have at least done some comparison shopping for finances and called other dealers to see if they could give you a lower price. The car business is very competitive, and most dealers would rather take a smaller profit than see you go into the arms of another dealer. Even if it means they have to take barely anything on the deal, they still have to make sales quotas, and the deal it still goes towards their sales numbers, which usually means more cars from the manufacturer.

The salespeople have a job, and it's to sell you a car, but it's also to make the most money possible from the deal. An experienced salesperson can juggle the numbers to make it look like you're saving money when you really aren't, and the fact that you don't know how much the car really cost would indicate that happened to you.

Don't be a payment buyer. Focus on the price of the car, then arrange the length of the financing to suit your budget. If you're a payment buyer, it makes it much easier for the salesperson to confuse you on the numbers. If you get confused, you will lose.

Leave the kids at home when you're ready to deal. By all means, take them along when you test drive to see how they like it and make sure the car suits your needs, but leave them at home when you're ready to buy. When you're there to deal, you want to focus on the deal with no distractions.

Never, never tell the salespeople you have to have the car today. In fact, try not to show any sense of urgency at all. Usually, there are more cars to sell than there are people that want to buy them. There's sometimes a period at the beginning of the model launch where dealers can sell for over MSRP (which I've heard happened to the Versa). Don't buy then if you want the best deal. Time is on your side, not theirs.

Do not get attached to a specific car. New cars are a commodity. Every new car is the same as every other new car of the same model with the same options (supposedly). Every Nissan dealer can sell you this car.

You should have done some research on how much the car costs the dealer. To an extent, the information is available online. That would have given you at least a base to go off of.

Did you have a trade in? If so, I bet they lowballed you on it and made a lot of money there too.

Definitely look into refinancing. That could lower the payments to something more manageable.

Educating yourself could have saved you a lot of pain in the wallet. Next time, be prepared.

There are a few books on how to buy cars. The two I've found most helpful are:

Don't Get Taken Every Time by Remar Sutton. An entertaining read that gives you a 'fly on the wall' perspective of the way the car dealing process really works, written by someone who was once part of it. There's a lot of info on the particular tricks that salesmen use, and how to counter them.

Car Buyer's and Leaser's Negotiating Bible by William Bragg. This one focuses on new cars exclusively, and there's a lot of market research and more info on leasing here, if you're so inclined. They also have a web page where you can buy a packet that gives you as close as you're going to get to dealer cost and a summary of strategies from the book for $40 at http://www.fightingchance.com.

Also check out this web page for some good free advice: http://www.carbuyingtips.com
Modified by Woogie at 1:42 PM 7/9/2007

[KimberKenobi]

... My first V was 19,724 with tax, title, license... and my first V was an SL, CVT, Convenience, floor mats, paint protectant, splash guards, and $1000 aftermarket sunroof...

That's in Kentucky, but it still seems like maybe you got some



(I've always wanted to use that smiley...)

[GoodbyeCavalier]

i believe mine was 18,200 plus ttt with sunroof, power, mud guards, convienence and sattellite.

[KimberKenobi]

Yeah... my second V was actually cheaper than the first one (and it had the CVT, Convenience, sunroof package, audio package, mud flaps, and sirius... which I thought kinda sucked - in terms of the price I paid for the first V...)

[seasonalvoodoo]

Mine was 15,700 with tax, tag, title, fees.

2007 Versa S HB, Power Package, 4 Speed Automatic + Aluminum Kick Plates + floor mats....Oh yeah and the accent stripes (not by choice).

And I, too, wonder if I paid too much...it's hard to tell.

[br4dysays]

Mine was 15,700 with tax, tag, title, fees.

2007 Versa S HB, Power Package, 4 Speed Automatic + Aluminum Kick Plates + floor mats....Oh yeah and the accent stripes (not by choice).

And I, too, wonder if I paid too much...it's hard to tell.

if you did , i did.

mine was 14,400 + TTT (which was around 1200$)

and pretty much identical setup except silver.

[lucky9251]

my was 19.500 S modelwith extendes warranted until 72000 miles that was the totalwith 0 down at 7% for 72 month

i am paying 344 a month

i think that i gat rape

it was my 1st car buying newi have 5 car before i bought this the allwent to the juckyard

[motoguy128]

The reality is that 72 month loans are expensive in terms of insurance. Nobody likes to see a $350/month payment. Overall, Lucky9251 doesn't sound that bad off. He probably could have negotiated a better price for the vehicle, but your finiances and credit score largely determine the interest rates you can get, although there is sometimes a little wiggle room there too.

Like mentioned above. Go to the dealer knowing hte following:

1) The invoice and MSRP price for the vehicle or vechicles you are looking at and the price of most popular options.

2) your credit score, how much your willing to pay and ideally, preapproval with your own finaincing. Let them work up the price, then pull the finaining out of your pocket. You might get the dealer to agree to the lower price knowing they will make a little on the financing.

Most importantly, if possible get a price from one dealer and use it to leverage a better price at a second. I've never ever gotten the lowest price form the first dealer I walk into. You MUST be willing to walk away during the process.

When I bought my Versa, I orginally was looking at the Fit and Yaris, and the Nissan dealer was my 5th dealer. They had the best overall deal with my trade-in and the MSRP. They tried to screw me later after failing to secure underwriting for the finanicing contract (they made the deal late on a Saturday). I had to accept slightly less favorable terms but got an extra $500 knocked off the price... so my payment was slightly lower.

[pfc369]

car dealer loves people who bring in their whole family to buy a new car especially with young kids. Now a days you just called the dealer and asked for internet car manager and deal with him on the phone. they will give you one price take it or leave it. That is how i got mine. this is the new internet age of buying a car.

[FAAW11]

How much did you pay for the Versa (before tax, tags, trade or down payment)? What interest rate did you get? If you can "clean up" the math for me a little, I can tell you if you got ripped off or not. Sorry to hear it was a lousy experience for you.

Thanks everybody for the replies! Helps a lot! I know what i'm going to do now about the VERSA, and what I need to do in future purchases.

Before taxes it cost, $15,572.83 (Price of Vehicle). When you ad tax its $1,090.10 and the fee's cost $557.00 total. Altogether thats $17,227.43. Subtract the down payment of $2,260.00. It became $14,967.43, thats the amount to be financed. They gave us the APR of 6.95%. Thats when I didn't like what I heard. Considering we have excellent credit. We kept asking for a lower APR for a 60 month payment period, but they asked for payments of $300+ a month. I would assume that they can give us $275+/- for 60 months, but they wouldn't budge. They already knew we were going to down $2,000.

The reason being we ended up downing $2,260 was because the manager of the salesman asked for the first payment of the car along with the down payment. Then oddly enough when we were signing the papers, I thought that the total payments that we have left was 71 instead of 72. But I saw 72 payments on the contract. I adamantly complained to the finance officer what the salesman and the salesman manager said that the first payment would be paid. Then the finance officers manager had to come in and adjust, again, the contract but to subtract $260 from the cost. Thats how we ended up paying $255.00+ a month. The whole night ended around 10:50pm.

The reason why I got angry about the car was because . . .First of all I wasn't going to complain about the price of the VERSA, but when I saw that faulty bended rubber part on front of the windshield, while I was washing my car this weekend, I got annoyed. Another thing was, when I first opened the trunk after we purchased the car in May 07, there was a missing insert or a tab the held the rubber molding of the side part of the inside of the trunk. Now theres still a hole there. (I want to show the pics of these issues, but i'm still trying to figure out how.) I haven't had time to go to the dealer and get these issues resolved. Now I have to make a stupid appointment for them to resolve these issues on a new car, and they said it will take a day to resolve it.

[Clipsed]

my was 19.500 S modelwith extendes warranted until 72000 miles that was the totalwith 0 down at 7% for 72 month

i am paying 344 a month

i think that i gat rape

it was my 1st car buying newi have 5 car before i bought this the allwent to the juckyard

I paid basically that, I got my SL with ABS Side sills and splash guards and 5 year 72,000 mile warranty 72 months 6% and the alarm they offered, and they threw in free window tint and front nose mask. I paid $19,6xx with tax title and fees.

[Woogie]

Thanks everybody for the replies! Helps a lot! I know what i'm going to do now about the VERSA, and what I need to do in future purchases.

Before taxes it cost, $15,572.83 (Price of Vehicle). When you ad tax its $1,090.10 and the fee's cost $557.00 total. Altogether thats $17,227.43. Subtract the down payment of $2,260.00. It became $14,967.43, thats the amount to be financed. They gave us the APR of 6.95%. Thats when I didn't like what I heard. Considering we have excellent credit. We kept asking for a lower APR for a 60 month payment period, but they asked for payments of $300+ a month. I would assume that they can give us $275+/- for 60 months, but they wouldn't budge. They already knew we were going to down $2,000.

The reason being we ended up downing $2,260 was because the manager of the salesman asked for the first payment of the car along with the down payment. Then oddly enough when we were signing the papers, I thought that the total payments that we have left was 71 instead of 72. But I saw 72 payments on the contract. I adamantly complained to the finance officer what the salesman and the salesman manager said that the first payment would be paid. Then the finance officers manager had to come in and adjust, again, the contract but to subtract $260 from the cost. Thats how we ended up paying $255.00+ a month. The whole night ended around 10:50pm.

The reason why I got angry about the car was because . . .First of all I wasn't going to complain about the price of the VERSA, but when I saw that faulty bended rubber part on front of the windshield, while I was washing my car this weekend, I got annoyed. Another thing was, when I first opened the trunk after we purchased the car in May 07, there was a missing insert or a tab the held the rubber molding of the side part of the inside of the trunk. Now theres still a hole there. (I want to show the pics of these issues, but i'm still trying to figure out how.) I haven't had time to go to the dealer and get these issues resolved. Now I have to make a stupid appointment for them to resolve these issues on a new car, and they said it will take a day to resolve it.

Can you break down the fees any further? Taxes there's not much you can do about aside from complain to your state representative. Everyone has to pay them, and there's no real way to get a break on them since they go to the state and not to the dealer.

The 6.95% interest rate seems a bit on the high side, but not terribly so. Was there any special financing deals going on from the manufacturer at the time you bought the car that they told you you didn't qualify for? The low rate in my area for new cars at the moment from regular financial instutions is 6.45% according to bankrate (and my credit union), and that's for people with stellar credit. People with bad credit get a lot worse (up to 16.5% which is way more than I'd pay on any car loan). You may or may not be able to refinance lower than what you already have.

Yes, it sucks that you found a broken part on your car, but you have to realize that cars are mass produced, very complicated machines with a lot of parts. There is a certain failure rate to be expected, and the problems you have are limited to a piece of molding and some defective rubber, you should count yourself lucky.

[JPack]

The reason why I got angry about the car was because . . .First of all I wasn't going to complain about the price of the VERSA, but when I saw that faulty bended rubber part on front of the windshield, while I was washing my car this weekend, I got annoyed. Another thing was, when I first opened the trunk after we purchased the car in May 07, there was a missing insert or a tab the held the rubber molding of the side part of the inside of the trunk. Now theres still a hole there. (I want to show the pics of these issues, but i'm still trying to figure out how.) I haven't had time to go to the dealer and get these issues resolved. Now I have to make a stupid appointment for them to resolve these issues on a new car, and they said it will take a day to resolve it.

Next time you purchase a new vehicle, you need to spend 5-10 minutes checking the car before you take delivery. Open all doors, compartments. Check everything that moves.

I'd be pretty concerned about the missing trim piece/cover in the luggage area. Those pieces don't come off by themselves. When they do, it's because someone needed to remove it to gain access behind the panel to repair something. With the Versa, you need to remove it to get access to the tail lights and also the bumper.

[matttail]

...I haven't had time to go to the dealer and get these issues resolved. Now I have to make a stupid appointment for them to resolve these issues on a new car, and they said it will take a day to resolve it.

When you're going to take the car to the dealer tell them you're going to need a rental vehicle. If the repairs are going to take more than a few hours they should provide one for you free of charge. I've had, as many many others have, the car into the dealer on a few occasions and if the repairs were going to take more than 2 hours I was offered a rental car through enterprise. (you have to have a real credit card along for insurance but they don't charge it) If you don't like the dealer you bought the car from, take the repairs to an other Nissan dealer - warranty work is not tied to one dealer.

[HareBrained]

FAAW11,

$15,500 for an S with Auto (you didn't state the trans) and options is $400 over MSRP. That's too bad.

What bothers me is the demand for the first month payment up front. Loan interest is paid "in arrears", meaning you pay for the interest for the previous period and the principle for the next period. Therefore, you paid a month's interest for money you hadn't received yet. That may be illegal in NJ. {Although I just noticed that they reduced the loan amount by the $260. That's the right way to do it.} Contact the BBB and Nissan about how the transaction was handled. Nissan can't afford to have bad dealers. Also, post the dealer's name here so others can avoid them.

Then they had to correct the loan contract tells me they were trying to fleece you even more. Read through the loan contract. If you don't see the term "simple interest" or you see the term "amortized", you could be in trouble. Look for the "repayment" clause to see if there is a penalty for prepayment (fee for paying off the loan early.) Amortization is the mortgage method of loan money. Essentially with each successive payment, the portion applied to principle increases, thus paying back the cost of the loan (the interest) earlier. Simple interest means the same portion each month goes toward the P&I. Take the contract to you're bank and have the loan officer explain to you what you've signed. And then ask them what they can do for you.

FYI: $15k @ 6.95% for 60 mos. => $296/mo.$15k @ 6.49% for 60 mos. => $293/mo.$14.5k @ 6.95% for 60 mos. => $287/mo.$14.5k @ 6.95% for 72 mos. => $247/mo.

The interest rate does little to the payment. The $500 you shouldn't have paid could have saved you $8/mo. for the current terms. It's up to you whether or not it's worth the trouble to refinance.

[FAAW11]

I have an Automatic VERSA. Yes, the salesman's manager (a young male, 20's+) asked for the first monthly payment up front along with the $2,000 down to get the car for $260.00+ a month. But when I saw no deduction of months during the contract signing with the loan officer, thats when I said something. I told the loan officer about what the saleman's manager told us, then he was like nobody told him about that. (I was more ticked because there was no communication between them, it seems like they just wanted the sale and money.) After that, the loan officer's manager had to come in and do some adjustments. I told the loan officer's manager what the saleman's manager told me, and he said that I can't pay up front the fist month payment on a finance, it was not possible. Then I heard him mutter inadvertently to himself while sitting down, "why did that guy (salesman's manager) say that, you can't do that on a finance contract, only on a lease contract." So the loan officer manager had to use the loan officer's computer, and retype and redo the WHOLE contract again while recalculating everything to be reduced by $260. That's why we ended up with $255.00+ a month.

We had to stay more after the signing, because they wanted us to get the car insured already with our insurance company. So they had to contact GEICO and we had to speak to them. We had to give them info on the new car and we had to wait for the fax of the temporary insurance card, before the dealer can hand over the keys. This ticked me off more, because I couldn't understand why we had to get insurance right there (around 10:10pm+). (Mind you, I have my two little kids crying during this whole ordeal, they were very tired. I already wanted to walk away, but the salesman kept reassuring us that everything will only take a few minutes.) I thought the dealer gives the temporary insurance so that we have time to get the car insured ourselves during our own time. I never had to get insurance right away at the dealer when I bought my other cars.

At the moment, I am reading over everything and making sure that my facts are 100% correct. When i'm done looking over everything, if need be, I will be talking to the BBB and Nissan Corporate Office about how the transaction was handled and how the auto was unsatisfactorily delivered to me.

BTW, I don't think I will be refinancing. It seems like its not worth doing it.

Thanks again for the replies! I appreciate it!

[MIdnkight-lude]

i paid 15k out the door for my S saphire Blue Versa. It is 6 speed, and power packages only.

so i dont have floormats, pinstrip, or splash guard. I was barely below sticker. i am sorry for your experiences, it took me 2 months to buy my V, i was Dead set on it after the test drive, but I walked away, and check out other OPTION before i bought it. Because of the shortage at the time, it took me 2 months to find another V. and i am happy. i was barely under MSRP.

[biggie]

i paid 15k out the door for my S saphire Blue Versa. It is 6 speed, and power packages only.

so i dont have floormats, pinstrip, or splash guard. I was barely below sticker. i am sorry for your experiences, it took me 2 months to buy my V, i was Dead set on it after the test drive, but I walked away, and check out other OPTION before i bought it. Because of the shortage at the time, it took me 2 months to find another V. and i am happy. i was barely under MSRP.

I'm surprised at how high it seems some of yall's were. Maybe its the area here, but I was looking at a Black S 6MT, no packages and could have got it at 12,700 or so.

I got mine as mentioned above, and it was 1,200 under sticker, I was happy, but wished I could have gotten it lower (its a battle to me, this time I won, but just barely).

[n00bdude88]

Yeah, you got reamed pretty good.You must love your wife very much to let her boss you around like that. Be a man for pete's sake. You're paying for the car, you should have made her wait until you had a better deal.

[HareBrained]

We had to stay more after the signing, because they wanted us to get the car insured already with our insurance company. ...

Insurance covers the driver, not the car. That's why you shouldn't allow someone else drive your car, unless you know their coverage is adequate for your car. Also, you're insurance automatically covers you driving your new car. There is a grace period for reporting your new car (it affects the cost of coverage but not whether or not you're covered.) Although, auto insurance laws are governed by the state governments, and therefore can vary. But I have GIECO motorcycle insurance and I know that I'd be covered for any new bike.

I really feel for you. This must have been a nightmare that has yet to end. Does your wife like her new car, at least?

[Woogie]

Yeah, you got reamed pretty good.You must love your wife very much to let her boss you around like that. Be a man for pete's sake. You're paying for the car, you should have made her wait until you had a better deal.

Oh puh-leeze. "You be man! You tell wo-man what to do! No let wo-man tell you what to do."

Yes, the wife made a bad decision that the TC went along with. Stupid car buying decisions are hardly exclusive to one sex.

Besides, who says he's the one paying for it? It might be coming out of both their paychecks, or just hers for all we know.

[n00bdude88]

I knew somebody was gonna go PC on me for that remark. Okay,how about Be a frigging ADULT here. It doesnt matter what gender he/she is if they HAVE to have the car that day. They're,(she in this case) being a spoiled baby.Now go beat your wife on the head with a club & drag her by her hair to the car dealer & take that **** back.