My first brand new car: 2011 Versa

[likeknives]

Hey everyone! My name is Brittany. I'm a senior in undergrad, 23, Northeast Tennessee. I bought my 2011 Nissan Versa Hatchback S with extras on December 22nd.



-Fresh Powder
-Charcoal interior
-Power locks/windows
-Keyless entry
-Cruise control
-Spoiler
-Mats

My 2000 Jeep Cherokee was falling apart and with my boyfriend deploying to Iraq in June, I wouldn't have anyone to do the weekly/bi-weekly repairs it was needing.

We went to Nissan to look at a used 2007 Versa that was probably an S with no cruise control or options. It was priced at 8 something. After talking to the Nissan dealers, it seemed like getting a 2011 Versa with the rebate, trade-in and etc. would put me at the payment I wanted.

I hadn't planned on getting a brand new car and it all happened so fast but Jacob and I are really pleased with the purchase. If I could change anything it would probably be looking into the SL more and having gotten it. I didn't even look at an SL package because I just assumed it would be priced higher than I wanted. Looking back, I probably could have gotten an SL and haggled with them a bit. I did get a lot of the power options though. There was no way in hell I was going to buy a brand new car without keyless entry or cruise control.

My only complaint with my Versa is the seat quality. They're lint magnets! The seats in the SL would have been better I'm sure. Definitely going to invest in some high quality seat covers when I get the chance.

I got out the door for $14,491 with a $230 monthly payment, 72 months. With my limited credit (no previous loans), I think I didn't do too bad.

I've spent hours reading this forum and a couple of others. I'm really excited about my Versa future!

[Promise Land]

The interest rate seems a touch high, but I don't know what your credit is like. The price isn't too bad. Welcome to the forums.

[iluvmyVersa08]

Welcome to the forums!
Interest rate is high, ouch; but other than that sounds like a good price.

[anthony870]

now you all have me sad. i thought that interest rate wasn't too bad because mine is about 7 i think.

welcome to the forums. nice versa you have. you have any plans for it?

[aidan80]

Nice wee car, looks like a decent out the door price. I too was in the same boat with the credit, my history over in this part of the world was only a few years old and never had any loans here. My initial APR (as my credit union were the only people to finance me) was something like 7.9%. What I did was went back after 7 or 8 months and refinance it to 6.5%. Ok I only got 1.4% off but that's 1.4% in my pocket every month or off the loan.

If I were you I'd consider refinancing if you can after about a year of making payments on it. That and do what I should have done, bought seat covers. One thing I dislike about my Versa is it can be a static magnet when humidity drops lol. Otherwise after almost a year and a half of ownership I'm still happy with this wee car

[08versailles]

Congrats on your first brand new car! I do like my SL, but you can't go wrong with Versatility. Welcome!

[TommyV8]

I also went with the S instead of the SL, but except for the CVT and the console/armrest (man, it's annoying not having one) I don't think I'll miss most of the SL options.
Don't feel too bad about the loan, 72 months is a long time but $230 is not too bad to deal with each month. Especially if you're avoiding paying a lot for gas. Hopefully the Versa will still be doing well for ya after the loan is paid off. Four years ago my wife took out a horrid 72 month loan for her used gas-guzzling Trailblazer with a sticker price not much higher than your car; her payment is $385/month! For six years! She was quite a bit upside down on her trade-in that she was still paying on so she just rolled the difference into the new loan, putting her deeper into a hole. And of course a 6 year loan will not have a great APR. By comparison my car at the time had a slightly higher sticker price and my payment was only $312 for 60 months; I just stuck with it and paid it off to avoid that whole upside-down trap. This was before we were married so of course I couldn't lock her in a closet until she came to her senses. I guess my point is that it could be a lot worse. We're older now and were able to secure a very reasonable 48 month loan for the Versa. Things will get a little easier when you get old like me. Although I would still trade places with you in a heartbeat to be 10 years younger.