alright guys so i went to the dealership today to check the car out with my mom and to test drive it but with my luck they had sold it that very mornign so i couldnt test drive it but i got in the interior and those front seats feel soooooooooo ****in nice! .. being inside of the car made me fall in love with it even more lol ... ok now for the financial end ... well to start the car had sunroof option group 1 and navigation so it was nicely equiped. the sticker price on it was $48k so we went in there and spoke to the salesman and i told him i can put 10k down and he said that for 59 months my payments would be $430 a month and the 60 payment would roughly be $11,000 ... what does every1 think about that? and does every1 think putn down 10k is a good idea or should i put down less? let me kno guys thanks... o i forgot to aadd that after the salesman did all his calculations he said the final price was $36,500 and that was without me haggling hime at all so im sure i can get home down a little more... does this price seem very low or is it just me?

those numbers really dont add up, i paid 46,500 for my 07 in feb of 07, i put 10% down 4,650.00 i was hit with 12.75% interest and for 60 months i pay $850.00
Good luck and enjoy the beast

Where are you going to get $11,000 for a last payment? What is the interest rate? Is the 36,500 after your $10,000 down. Is the Employee pricing and all the incentives over with? Need more info.

I dont know about that $430.00 a month. Even if you put down 20k on 48 @7.19% for 60 months the payment would be around 640.

I agree with td I was thinking somewhere in that region as well cause you are financing over 35000 of vehichle. The less you put down the higher your payments will be. Your goal is to pay off your loan as quickly as possible so if you could pay the full cash that would be ideal LOL Seriously though try putting down as much as you can to reduce those payments(I guarantee you that they are not 430[try double] or everyone would be driving one), remember too all vehichle's are depreciating assets and you don't want to be upside down on your loan as no one knows what the future holds!

Get a no BS monthly payment. That looks like a lease deal.

he said that this price included all the incentives like employee pricing and all the rebates posible i cant exactly remember the interest rate it may have been through our own financing or the 2.9 % from chrylser ... but this is deffinetely a buy price not a lease ... i could put 15k down but wasnt sure if i do so .. say godforbid the car gets stolen or totaled isnt my down payment goin to go bye bye?

he said that this price included all the incentives like employee pricing and all the rebates posible i cant exactly remember the interest rate it may have been through our own financing or the 2.9 % from chrylser ... but this is deffinetely a buy price not a lease ... i could put 15k down but wasnt sure if i do so .. say godforbid the car gets stolen or totaled isnt my down payment goin to go bye bye?

So are you financing 36,000 or 26,000? What about the 11 thousand last payment. Something is wrong there.

i didnt get that indepth with the financial part because the place didnt even have a car that i could test drive or even buy for that matter and plus i am just starting to shop around so i wasnt gonna get that heavily involved but all i kno is that i said what will the price be after rebates and employee pricing he then said $36,500 i was kinda shocked that he said it was that low..... he then said somethiing about a equity buy in and said my payments would be $430 for 59 months and the 60th is $11,000 so thats what i had heard

[QUOTE=blade0314;379923]alright guys so i went to the dealership today to check the car out with my mom and to test drive it but with my luck they had sold it that very mornign so i couldnt test drive it but i got in the interior and those front seats feel soooooooooo ****in nice! .. being inside of the car made me fall in love with it even more lol ... ok now for the financial end ... well to start the car had sunroof option group 1 and navigation so it was nicely equiped. the sticker price on it was $48k so we went in there and spoke to the salesman and i told him i can put 10k down and he said that for 59 months my payments would be $430 a month and the 60 payment would roughly be $11,000 ... what does every1 think about that? and does every1 think putn down 10k is a good idea or should i put down less? let me kno guys thanks... o i forgot to aadd that after the salesman did all his calculations he said the final price was $36,500 and that was without me haggling hime at all so im sure i can get home down a little more... does this price seem very low or is it just me?[/QUOTE
Tell them you will pay 34,200:D

i didnt get that indepth with the financial part because the place didnt even have a car that i could test drive or even buy for that matter and plus i am just starting to shop around so i wasnt gonna get that heavily involved but all i kno is that i said what will the price be after rebates and employee pricing he then said $36,500 i was kinda shocked that he said it was that low..... he then said somethiing about a equity buy in and said my payments would be $430 for 59 months and the 60th is $11,000 so thats what i had heard

$430 * 59 + $11000 = $36370 Is there no interest on that loan?

$430 * 59 + $11000 = $36370 Is there no interest on that loan?

LOL, if he can get away with it;)

LOL, if he can get away with it;)

So nobody finds it crazy to have an $11,000 last payment. I have never seen that before.

word imma haggle them when the time comes it wasnt time for it yet .. ill try to lowball first at 34k and work from there .. and yeh that last payment i was kinda shocked at i didnt quite understand that when i get more info i will let you guys know whats goen on

balloooon payment..

yeh he may have said that i was just so happy that i wasnt paying much attention lol .. i figured if i can pay $500 a month instead of my $430 a month payment that should put a pretty good dent in the last payment

That's a "Smart Buy" like from GM. Which isn't "smart" at all.

Here's a useful tool you can use:
http://www.mortgageloan.com/calculator/auto-loan-calculator

thanks for all the help guys

This sounds like it is a interest and principal balloon loan option. I did one of these on an old Porsche 930 turbo.

$10,000 + $430*59 months ($25,370) + 11,000 = $46,370 total in payments.

If this is true, then you are getting a very good deal relative to the MSRP on the vehicle. That truck must be heavily discounted to get you to that number. I would bet this number does not include sales taxes or dealership fees and charges??

Did you get this quote in writing? It does sound like a type of a lease except walking away at the end will not be as easy, you either pay the $11k balloon payment out of pocket or you are gonna have to sell the vehicle. AND you will only have 1 month to do it.

LOL. I reality it might be a really good deal... the way America is printing money, $11,000 in 6 years won't be worth $11,000 today.

I suggest going to another dealership with that quote in writing and see if you can do even better....

Is the 0% for 48 no longer available?

This sounds like it is a interest and principal balloon loan option. I did one of these on an old Porsche 930 turbo.

$10,000 + $430*59 months ($25,370) + 11,000 = $46,370 total in payments.

If this is true, then you are getting a very good deal relative to the MSRP on the vehicle. That truck must be heavily discounted to get you to that number. I would bet this number does not include sales taxes or dealership fees and charges??

Did you get this quote in writing? It does sound like a type of a lease except walking away at the end will not be as easy, you either pay the $11k balloon payment out of pocket or you are gonna have to sell the vehicle. AND you will only have 1 month to do it.

LOL. I reality it might be a really good deal... the way America is printing money, $11,000 in 6 years won't be worth $11,000 today.

I suggest going to another dealership with that quote in writing and see if you can do even better....

this price included shipping charge but not sales tax .. i didnt get it in writing but i can this weekend prolli when i go back to test drive it.. what i could do at the last payment is simply take a loan out from my bank or sumthin like that

Is the 0% for 48 no longer available?

No its not. They have 0% for 36 months, 2.9% for 48 months and 5.9% for 60 months and if you Finance thru Chyrsler you get 1000.00 bonus, but this is on an 08. The last time I checked it loooks like they are not discounting that much any more on the 09's.

idk the dealer was giving me crazy rebates and incentives

Yeah I jumped on the 0% for 48 months when they had it...if I were the original poster, i'd still go with the 0% for 36 months

first off you dont need the salesman to be playing the monthly payment game... you dont need him to do your math homework for you... you need him to sell you a car.....

obvious his 36k total isnt including your down payment... which to me hes just a tool... or playin you like some sort of fool

go back in there and discuss the purchase price of the vehicle... and thats all you are going to do... maybe take some time and do some research (edmunds.com) to get a better understanding on buying a new car

buying a new car is going to be the worst investment you probably will ever make in your life... so when you do go and buy it make sure you don't pay anymore money than you have to.. :)

good luck... hope it works out for you... I would also go to your bank and check out their rates as well... b/c chances are you will get a better rate there than the dealers financial department

I am not sure if they are combining zero percent with cash back... if not always take the cash back... UNLESS you are 100% certain you will be keeping the rig for the entire note it will be a smarter financial move to go with the cash back (ofcourse theres exceptions but thats always the safer route and if you do sell the rig in a few years you will be kicking yourself that you didnt take the cash back)

good luck ... hope things work out

The 430 a month is simply 26k for the 5 year note.... zero percent

i suppose he is getting zero percent? do you even know that you qualify for it?

before ya go back to the dealer go to your bank and see what rate you quality for.... b/c its obvious hes assuming you will qualify for zero percent...

than whats going to happen is you are going to assume your payment is at 430... than you are going to go sit down with a loan officer at the dealership and than guess what...?

oh... sorry buddy... you do not qualify for the zero percent... but we can give you a 8.9% loan... best in town... !! so your payment will be 540 instead of the 430...

thats exactly what they are doing if you two didnt discuss your credit score and even go over the apr side of this transaction

The salesman is playing games with you and the "payment". I would find a new salesman or dealership. Most people have more than 1 dealership within 30 minutes of them. Use another one.

Discuss price not payment. End of story. If he tries talking payment walk out.

Do not pay for shipping. If they "dealer trade" they should not charge you more" Wait 4-6 weeks and you could have one order built with your name on the window sticker.

BTW- This $430 payment is ripping you off. DO NOT DO IT.

ye it seems all ave come to agreeance, you are getting finagkled by the stealership ohhh hey what a surprise, oh wait thats their job. They are rarely if ever straight forward and you will always end up paying more than you need. Best advice, get a used 08 or 09 for 40k or less, finance it straight up, see what interest rate you qualify for and do math. From this number decided on how you want to pay it out and how much to out down, always put down as much as possible on a "buy" because you want less interest on less $, so if you can pay it all in cash, do ittttt! GL, hope it works out for you, new is dumb, let someone else take depreciation hit, no need, still has new car smell anyway ;)

ye it seems all ave come to agreeance, you are getting finagkled by the stealership ohhh hey what a surprise, oh wait thats their job. They are rarely if ever straight forward and you will always end up paying more than you need. Best advice, get a used 08 or 09 for 40k or less, finance it straight up, see what interest rate you qualify for and do math. From this number decided on how you want to pay it out and how much to out down, always put down as much as possible on a "buy" because you want less interest on less $, so if you can pay it all in cash, do ittttt! GL, hope it works out for you, new is dumb, let someone else take depreciation hit, no need, still has new car smell anyway ;)

New is not "always" dumb. If you can buy new for the price of used go for it and buy new. It is hard to do, but it is possible.

For example in February I was quoted $37,xxx for a loaded (similar to the vehicle in the link) and would have had 0% for 48 months.
http://www.autotrader.com/fyc/vdp.jsp?ct=u&car_id=260224290&dealer_id=510590&car_year=2008&rdm=1238432571926&model=&num_records=25&systime=&make2=&highlightFirstMakeModel=&start_year=2008&keywordsfyc=__c3J0__&keywordsfyc=&keywordsrep=115114116&keywordsrep=&engine=8+Cylinder&certified=&body_code=0&fuel=&only_price=1&awsp=false&search_type=both&distance=0&marketZipError=false&search_lang=en&showZipError=n&make=JEEP&keywords_display=srt&color=&page_location=findacar%3A%3Aispsearchform&min_price=&drive=&default_sort=priceASC&seller_type=b&max_mileage=15000&style_flag=1&sort_type=priceASC&address=43613&advanced=y&end_year=2010&doors=&transmission=&max_price=&cardist=352&standard=false
Which would make new cheaper than used.

This is "fair" deal. If it was $32k or less you should consider it over the new 2009. Since you will not be able to use the 0% for 36 months financing offered by Chrysler.