Came home from the dealership

[Big-Ben]

And yet, still no 09 MS3 GT in our garage.

So I went to 3 different dealership with my aunt; 2 of them I like. The other try to rip me off and try to be in the upper hand.

The invoice I got from dealership (1) - 24,299. Dealership (2) - 24,752. Dealership (3) - 24,172.

Now I'm 20; First time buyer. Most likely will go with the 60 month plan.
Dealership (3) have calculated that I will be paying 617 - 642 / No money down.
I'm hoping to put at least 2G's down.

Anyway, should I get it now, or next month?
I will be going out of state for Christmas until 4th of Jan.

I'm scared that the white version would be gone by the time I come back; AND MIGHT wait for another one.

D(1) - Will only get shipped to them if I'm going to buy from them.
D(2) - Already have them in their stock
D(3) - will get their White version next week on Monday.

Any tips I need to know (still)? Perhaps get some freebie add-ons; Like tint?
Should I be comfortable with the price I was given?

I do apologize for the long read and questions.
Do help me, I wish to be an MS3 enthusiast soon.

Thanks for the help guys.

 

[Speed3Rookie]

Welcome to the site.
Those are not bad prices. Did you check Edmunds.com?
Have you taken the cost of insurance into account?

 

[intak3_bLkMs3]

im 18 **** insurance go for it haha

 

[08MicaSpeed3]

Depending on the rate, for every $1000 you put down deduct $20 from your monthly payment. It will give you a realistic idea of what you would be paying... of course the lower the rate the less money you take off. All of those prices sound pretty fair. The mark up over invoice really isn't that high on the Mazdaspeed 3. Where you can play with them is what rate they will give you and package add ons like extended warranty, free oil changes and inspections.

Good Luck with your purchase, you will love the Speed3... I love mine.

 

[mr_mazda329]

Try getting a loan from the bank. You will get a better rate and lower mo. payment and try to get a co-signer too. When you go in to buy the car, focus on the price of the car first. Don't go any higher than 60mos. And don't go any higher than $2500 down. Thats a lot of money to throw down. And don't accept their 1st 2nd 3rd offer and act like you are going home to think about it overnight. They will def drop the price a little more thinking they are about to lose a sale.

 

[Big-Ben]

Yeah, I think I'll do a bluff about "thinking" it over again.
Though I might wait until early Jan '09 to get one.
Not really in rush, but I sure hope I don't wait too long.

 

[Mike240SX]

I paid MSRP for my '08 GT. With taxes/reg fee, it came to just under $28k out the door. I put $1000 cash down and got $300 for a trade, and my minimum payment is $463.xx a month for 72 months.

 

[Sphincter]

IMHO I think you should try to get it this month, dealerships are crying for business and being it's the end of the year they are trying to meat the quota. Don't just go in there and lay the cards on the table. Act sort of uninterested and find something that you "don't like" about the car. Definitely don't accept any of their first offers, cause they will try to butt **** you at first. I went to buy this car last month, and they tried to screw me, so I walked away three times. On the 1st of December they called me again throwing offers at me, so I went a week ago and walked out with an amazing deal. I'm 22, first time buyer as well, they gave me $3K for trade (at first they wouldn't go more than $2K), I'm paying $400 for 2008.5 GT with GAP and wheel protection. Good luck, and hopefully it'll work out good. I'm glad I got mine, I freaking love it.

 

[blueprotegelx]

I congratulate you first off by asking for advice when it comes to the financial aspect of buying your first car! My parents basically said stop using our car even though I was trying to save for a car, and sent me to only one dealership (Used Ford Dealership!) Basically I was ignorant at the age of 18 and my parents did not help me. I ended up with my Protege since it was on their lot and despised my choice after that when I did the research and realized I got ripped off. Basically, I accepted their first offer and paying 11,700 for it. I put down 2500 and my payments were 275 a month for 3 years. I paid it off as soon as I could (2 years.) Actually I only had 2k to put down and then they called bank (supposively) and said I needed an extra 500 before I could get the car, I was completely oblivious and accepted it.

 

[CosmoMS3]

Go for it

December is the best time of the year to buy a car. I would not wait till January. Especially with the low sales most dealerships had for 2008, I think you have the upper hand.

 

[mr_mazda329]

Definately buy in December. What everyone here has said about buying before the new year is true. OP, make sure you get the GAP insurance. It will tac on a lil to the price, but it worth it to not have to pay on a dead horse.

BTW, Sphincter Wheel protection rules. It will cover the loss of my wheels being stolen, including aftermarket ones.

 

[UHATEIT]

to be 20 and be approved to buy a car of this price range, congrats. Even with perfect credit at 20 i wasn't approved for anything over 13K.

Maybe dealerships are very desperate to snag buyers in an economy like this.

 

[TheDoc]

642 a month for 60 months??

And you're twenty... which means even with a clear drivin record you're going to be paying 200+ a month in insurance.. damn, man.

My advise is wait till Jan and put together atleast a little downpayment. Don't be scared of a car not being there when you go to buy it- limited production or not a dealer will find a car for you- that's their job.

 

[zim]

definitely get a nice down payment. it helps so much. I put down $5k on my 08 sport and I'm paying $345/mo and my insurance went down to $106/mo

 

[CrazyT]

According to my calculations, $632 for 60 months with zero down puts you at a 20% APR, which to be honest, is absolutely ridiculous. Since you are twenty, you probably don't have very good credit history (as in time you've had a credit rating). This is probably why you've got a rate so high. Right now, I won't by a car with a loan greater than 5%.

Over the next five years you will pay the loan company $13,200 just for giving you a loan. $238 of your $642 every month is going to the loan complany, not the principal.

#1 Advise - DON'T RUSH IT. The dealer will say they have a buyer coming in. THEY DEPEND ON EMOTIONAL BUYING. Think it through. They can always order you one. That's what I did with my Black GT.

#2 If you get along with your family, see if they can co-sign on a loan. This will allow you to use their credit score to get a better loan.

#3 Maybe right now is not the best time for you to get a new car. Cars are not everything, and just because everyone else has a nice new shiny car doesn't mean you have to. The 'keeping up with the Joneses' is why we are in an economic crisis, don't forget. I'm ~30 yo and make ~90k a year. I just got rid of my 23 year old car and bought this. $642 a month for FIVE YEARS is a lot of money. You are in your prime years, and next year when you are 21, you are going to need all that extra money to buy drinks for all the cute girls. Staying at home because you have no spare cash is a bummer, no matter what cool car you got. Price out insurance, as well. Keep in mind that depending on the loan company, you will have maximum deductibles, usually $500. This can make it pricey.

#4 Buy used. You can get a MS3 for several grand cheaper than new. May not be white, but look at your priorities.

Good luck to you. You seem to have a good head on your shoulders by asking the questions all ready. The dealer will try to 'hook' you by talking in terms of monthly payments. Avoid this. Talk in rates and terms.

Edit: Just re-read your original post. You plan on putting 2k down, which is good. The bigger the better. Putting 2K down with the rates already suggested lowers your monthly payment ~$55 and you save ~$3.2K when the loan is payed off.

 

[martin_nj]

i got my 09 for 23,300 +tax, title, etc

i'm 24....

i got 7.9% apr with 5,000 down

i financed 20,000 after all was said and done am payin 425 a month

 

[Big-Ben]

I actually have a great credit score -- always pay on time + the whole payment. I think the salesperson only calculated it to the worst case scenario. So I know it'll decrease once he's able to check my account.
Hopefully my APR won't be that high. I wish to have it at least around 5%.

I wish I can find a co-signer but my aunt (who I went to) is thinking of getting a new car herself. My parents or anyone I know couldn't either.
So I was told by my family to do a refinance after a year or so.

Edit:
I haven't test driven the car yet, but when I sat on it and mess with the clutch, I'm having trouble putting it on 5th; It get stuck somehow. Is this normal? Should I expect this on 'my' GT? This car was a Sports edition in the show room.

Edit2:
Thanks for the advice guys. Really helps me.

 

[CrazyT]

I actually have a great credit score -- always pay on time + the whole payment.

Unless you had a credit card and some type of loan when you were 15, you don't. It's just how it goes. You need "history" to have credit history. It may not be bad, but it's not good.

Another thing, you went to the dealer and 1) didn't drive the car and 2) let the dealer give you 'worse case' numbers. YOU need to be in control of the situation. Let the salesperson work for you. Tell him what you want. Unless you couldn't produce a valid Drivers License, there is no reason why you couldn't drive one. I'm not trying to sound insulting, just trying to help out. Most of us learn from experience the horrors of high interest loans and "predatory" lending, and no one should have to experience that.

Also be wary of stupid fees. Look out for loan origination fees and what not.

Edit: If you are serious about purchasing a car, don't worry about letting several companies (banks/dealer) run your credit score. Your score will not be affected by the multiple credit reports if it's within a short time period ( a month or two), as it's considered shopping for a loan.

 

[Big-Ben]

Unless you had a credit card and some type of loan when you were 15, you don't. It's just how it goes. You need "history" to have credit history. It may not be bad, but it's not good.

Another thing, you went to the dealer and 1) didn't drive the car and 2) let the dealer give you 'worse case' numbers. YOU need to be in control of the situation. Let the salesperson work for you. Tell him what you want. Unless you couldn't produce a valid Drivers License, there is no reason why you couldn't drive one. I'm not trying to sound insulting, just trying to help out. Most of us learn from experience the horrors of high interest loans and "predatory" lending, and no one should have to experience that.

Also be wary of stupid fees. Look out for loan origination fees and what not.

Edit: If you are serious about purchasing a car, don't worry about letting several companies (banks/dealer) run your credit score. Your score will not be affected by the multiple credit reports if it's within a short time period ( a month or two), as it's considered shopping for a loan.

Those numbers aren't final. I just stopped by to see what their 'offer' is (invoice and what not). But if I'm about to purchase it and talk about numbers, then I'll make sure I have the best deal I can get.
Of course I'll do a test drive first.

The reason why I found out about my credit score was because I opened an account in another bank and they showed me my score (which is an A).
But yeah, I've been building my credit since a year ago or two. I forgot, but in any case, I was told and I saw that I have a good score.

 

[MS3Pilot]

sounds good to me, my car was just over 27k with taxes, title, registration, and misc. dealer bulls*** fees. 9k down and the pmt is $390/month.