Charger Forums banner

1 - 15 of 15 Posts

·
Registered
Joined
·
21 Posts
Discussion Starter #1
I am looking to purchase an SXT as the R/T is a little out of my price range - I am trading my Jeep Wranger 1997 6cyl sport edition in on an SXT that will most likley be ordered. Here are the numbers and I wanted to run this by some of you as to if they are in the right ballpark or not.

SXT Charger - 26585 - base + protection
Trade - 4900
owe - 2800
cash down - 1000
rebate - 500
tax at 8.25

I'm looking at $410 over 7 years - does this sound ok, is there a way to find a dealer that would maximise the trade-in and yet give the charger at closer to invoice?

Thanks,
jer
 

·
Registered
Joined
·
1,762 Posts
sxt_jer said:
I am looking to purchase an SXT as the R/T is a little out of my price range - I am trading my Jeep Wranger 1997 6cyl sport edition in on an SXT that will most likley be ordered. Here are the numbers and I wanted to run this by some of you as to if they are in the right ballpark or not.

SXT Charger - 26585 - base + protection
Trade - 4900
owe - 2800
cash down - 1000
rebate - 500
tax at 8.25

I'm looking at $410 over 7 years - does this sound ok, is there a way to find a dealer that would maximise the trade-in and yet give the charger at closer to invoice?

Thanks,
jer
26585
-4900
+2800
-1000
-500
= 22985 total paid
x.0825 = 1896 tax
= 24881 total financed (you'll have to add license plates and title and any other charges)
= $412 per month at 6% for 6 years.

If someone told you this would be your payment for 7 years, they're trying to pull a fast one on you.

Having fananced two cars in the past for 6 years, I'd urge you not to do that because you'll be upside down on the loan for a very long time. You should try to get them to come down on the car to invoice or very close to and try to get only a 5 year loan. If you have to do the 6, well...I've been there, I feel for ya.

Best of luck!
 

·
Registered
Joined
·
4,051 Posts
A couple ideas for you:

1) Check kbb.com (Kelly Blue Book) on the value of your current car, both trade-in, and outright sale. You'll notice that selling it outright, you'll make nearly twice as much. It *might* even put you into the black, as Neil would say it. Owing more than your car is worth is awful. :( Do anything you can to get out of that situation.

2) As someone else recommended, haggle with the dealer. Another invaluable website is edmunds.com. I've met dealers who won't even talk to you if you bring a printout, but I'd say go balls-out anyway. What's the worst that can happen? You have to buy it from someone else? <sarcasm>Oh, what ever will you do?</sarcasm> Matter of fact, let the dealer know that you can go his competition down the block, and he'll bend over (not backwards) for you. ;)

3) With your Jeep being worth *only* that much, consider even keeping it. Is it a 4x4? Do you live where you get some nasty snow? The Charger, even the SXT, won't be the best car to drive in the winter -- nor will you want to get all that salt on her!

Good luck. Buying, selling, upkeep, and everything else about cars just sucks.

The only good part is driving them.
 

·
Registered
Joined
·
630 Posts
sxt_jer said:
SXT Charger - 26585 - base + protection
Trade - 4900
owe - 2800
cash down - 1000
rebate - 500
tax at 8.25
Dutch tried, but got a few items mixed up. Try these numbers:

Code:
base            26585
rebate       -    500
trade        -   4900
            ---------
purchase        21185
tax          +   1748
            ---------
total           22933
owe          +   2800
downpay      -   1000
            =========
finance         24733
You never have to pay taxes on the amount you owe that the dealer pays off when you trade-in. Also, the down payment is really just financing reduction. It does not "reduce" the price you are paying.
 

·
Registered
Joined
·
21 Posts
Discussion Starter #5
Thanks guys,
I messed up my years above - it 72 months {6 years} not 7. I do live where we get snow, but not a ton. The Jeep is 4x4 but I am looking at some repair bills soon that will probably come close to more than $4900 (maybe before winter). I also have a daughter now and the Jeep Wrangler just isn't that big :).

So assuimng 6 years at those numbers, it seems the dealer might be close, they are just not dropping on msrp of the charger - which is fine - Maybe the other dealer will today when I go up there.

Thanks,
Jeremiah
 

·
Registered
Joined
·
1,762 Posts
Yeah I goofed, thanks for catching that CO-Charger.

Good luck, sxt_jer, you should be able to find someone to sell you the car within a couple hundred bucks of invoice.
 

·
Registered
Joined
·
21 Posts
Discussion Starter #7
Well I visited the competing dealer today and they got me down to $393 for 72 months, but that incudes the protection pacage and the other $1300 package for leather and heated seats and pedals that move :). So I tink I'm pretty happy with that.

Jer
 

·
Registered
Joined
·
630 Posts
Don't know if its me, but I've never bought a car based on the monthly payments. Sure its a factor, but I have never based a decision on it. Here is what I would do if I were in sxt_jer's place:

Given that you like $393/mo. I would calculate what the maximum I could get a loan for which would result in that number. 72 months @ 6% would be a loan amount of 23,750.

Then subtract the amount that you current owe on your current car. Then add in the amount you plan to pay as a downpayment and the value of your trade-in. That should give you a ballpark range of what you can afford to pay (including taxes and fees).

Next, go to a lender and pre-qualify for a loan of the amount you calculated. A bonus to this is that if the dealer financing can beat the lender's rates, you'll know your payment will be even less.

Then go out and negotiate the best deal you can and hold the reins tight to never go past the amount you've qualified for. Learn what dealers are paying (invoice) and never go beyond 3 or 4% above invoice. Absolutely NEVER pay anything more than MSRP.

One other thing to look into and I did this many times. If you are a member of a Credit Union or maybe even your bank does this, they may have a member service which allows you the use of an Auto Broker. Then you just go to the broker, tell him what you want, and he'll find the best deal for you, and there is no d-i-c-k-ering. Most of the time the Auto Brokers deal with dealership fleet managers and you'll end up with something like a 2 or 3% over invoice deal. There are many avenues for buying cars without having to actually haggle and deal about a price. Educate is the key. Now go forth and purchase with power! :)
 

·
Registered
Joined
·
4,783 Posts
You might be better off trying to sell your Jeep instead of trading it in. I was going to trade my Ram in. The dealer said they would give me $13,570 for it (2001 quad cab sport 4wd, loaded, 112,000 miles KB value of $13,950), but when I told them I have a FFP # (friends and family price), they dropped my trade in value to $10,750.....
 

·
Registered
Joined
·
21 Posts
Discussion Starter #10
Thanks Guys!! I will be putting a down payment on a Charger SXT tomorrow and now need to choose between the Bright Silver or the Midnight Blue. I will not be ordering the protection package as I know its on hold still (I think) and I don't mind not having it - never had run-flat tires before anyway. So I'll be getting the Comfort Package and 18" R/T wheels for the exact amount I'm looking to spend.

So - Blue or Silver???? That is the question.

Thanks,
jer
 

·
Registered
Joined
·
62 Posts
$410 per month is excellent for this car, I own an SXT and I would have paid another $5,000 over the MSRP price if I had to get it. I got my SXT with Leather, Remote Starter System, the upgraded radio, and UConnect and I am paying $525. It is worth every penny spent. And mind you I got it for $2,000 under MSRP.
 

·
Registered
Joined
·
154 Posts
BLACK!!!!! :rockon:
 

·
Registered
Joined
·
21 Posts
Discussion Starter #14
Ordered Blue when I went in - nothing final yet as the rebates might change but as of right now I got the SXT, comfort seating package and 18" R/T wheels for 393/month - I couldn't pass it up. Now I just need to wait, but thats ok as I can get almost two more payments on the trade-in in that amount of time, which will lower the payments even more - and if the rebate changes from $500 to more than that they will change the $500 to whatever the greater value is.

jer
 
1 - 15 of 15 Posts
Top