Quote:
Originally Posted by thomason2wheels
With carmakers giving 0 % financing and banks loaning money at a much higher rate, the better buy might be the new car....just sayin'
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We traded the MINI in as downpayment on the Altima. Then my credit score was 789 and my wife's 778. And the dealership still wanted 4.99% interest for factory financing, and we whipped out the phone and showed our bank already approved us for 3.95%. Magically the finance guy lowered to 3.99% without even getting us approved. The Federal Reserve is doing 0%, so lenders are doing above that.
Hindsight; we should have sold the mini ourselves. We would have gotten several thousand dollars more, plus mini's sell themselves. We talked up the trade-in price on the mini by $1,500 and talked down the asking price a few hundred. So we lowered their profit a fair bit.