Your Questions About New Car Prices 2011
Maria asks…
What is the least expensive new car?
I’m not buying a car right now, but I was just curious. What is the least expensive (in terms of purchasing price) new (year 2010 or 2011) car brand/model?
admin answers:
Depends on where you live. Worldwide, it is the Tata Nano.
Lisa asks…
I am planning to purchase a new car 2011 toyota camry le v6 how low can I negotiate the price down to?
admin answers:
Buy a 2010, you can get one with low miles, and warranty.
Get something someone else as already taken the fall for.
The minute you drive that brand new car off the lot it loses $5000 in value.
Ruth asks…
I just bought a new 2011 car. The dealership said they need to redo the contract and bump our payments up?
we don’t really car if we keep the car or not, we would love to but we agreed to our monthly and now they want to change it on us. But my question is can i give the car back, and then ask to re-buy it because now it is a used car that has 1000 miles on it. So its not a new car anymore right? so do they or should they give us the car at a discounted price as if we were new customers? and re negotiate our monthly payments now they have to sale the car at a discounted price?
I agree… i always thought a contact was a contract. but i am finding it happens often. we will gladly give the car back, but i do like it, but not enough to make my payments go up.. but i want them to pay for their greediness and make them eat this one but i don’t know if what i am asking is possible
Really Appreciate all your input!!! thanks!!!
admin answers:
This is a scam that they do. They look up what percentage interest rate they think they will be able to get you approved for, they don’t actually run your stuff, and then sign all the stuff. After you leave, they run the numbers and there are two scenarios that can happen here…one, they don’t find the interest rate that they believed they could get you approved for, so they try to scam you by coming in and renegotiating the contract…note that in this case, they did know that you weren’t going to get approved for the particular rate, they just want a better deal. Or second, you could get approved for the interest rate they quoted you, or possibly even a lower one, and then they have this thing I heard of where they try to get you at the highest interest rate that they can, and then they take the percentage difference and split it with the bank giving the loan out. Think about it, if you get say 5.5%, but then they have you renegotiate for 6.5%, the back gets an extra 0.5%, and so does the dealership…for doing absolutely nothing other than having YOU come back in and sign. In either instance, it’s very important not to resign ANYTHING. They are legally unable to do anything that they may threaten, and the worst that could happen is you returning the car with however many miles you rack up on it scot free…this they don’t want because then the car is a used car, it already had you as an owner.
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