Ckeleganz

Hi all, i have been a quite member on this forum since the new C-Class came out, now i have finally found the car that i want, but now im kinda doubting on the deal for some reason, i guess i just need some people to tell me to sign the papers ...... lol, so here's what im getting:

C350 Sport
Palladium Silver, 7-Speed
P02, Muitlmedia, IPod Intergration MSRP$42660, but im getting $46000 out-the-door, here in Cali we got 10% tax on new vehicles and $42660+4266 = $46926 so im getting $926 discount. Now i have enough money to pay the whole thing off, but i need to build my credit, (only have fair credit score )
so Fletcher Jones Mercedes Newport Beach gave me this deal :

$31000 down, 8.95% APR, they were gon do 60 mo term but that's too much money in interest so i went 36 mo term, with 36 mo my payments are $497 per month, YAY or NAY ??? plz do feel free to comment on anything, thank yall for the suggestions in advance

theorangecat

Yay

delirium

You got a bad deal. FJ are a buch of lying crooks.

I got over $1500 off MSRP, nice keychains and wholesale on accessories.

My sales tax is 7.75% as it should be in OC, Ca... (looks like they are ripping you off right here)

And of course depending on your credit.. I got over 3 % lower APR than you and its for 60 mo. financed through the dealership.

Again... all at Laguna Niguel

**** Fletcher Jones.

I recommend that you call John Maxwell at Laguna Niguel.

430752

Doesn't sound good, but dunno.

First, is CA really 10% sales tax on cars? I'm in NJ, so don't know, but sounds really high. Even Manhattan has car sales tax equal to regular sales tax (8.75%).

Next, 8.95% financing? You said you needed to build credit, but at 8.95% when regular is between 6.5-7.5%, admittedly for those with good credit. Still, you putting down 31K out of 46K, like 2/3 down. I would think you could score better than that with that loan-to-value.

More, a 5 year loan when you could pay it all off at once? I'd pay it all off and find another way to establish credit, but if you wanted to do it here, try a 2 year loan. Geez, at 5 years at 9%, you'd be paying more in interest than in premiums (figuratively).

I dunno, it just seems no good. 5 years at 9% with 2/3 down payment. Remember that dealers get money for sourcing customers for financing, or in simple terms: kickbacks from banks for finding customers. Its called writing the paper, and I've used it successfully to get a lower price (e.g., take another $300 off and I'll let you write the paper as long as the rates are competitive).

Here's how you know if its a good deal. Drive to the next dealership, and say you have $31,000 cash to put down on a c350 sport, today, and want a loan with good rates for the rest, what can they do you for you? I bet you get a much better deal.

Good luck

delirium

Worst of all is that you gave FJ $31K to hold... i cant even get them to give me back my $2000...

Ya the fact that they told you tax is 10% is a lie, tax depends where you live & if you live in OC its 7.75%, its on my receipt. You are getting RIPPED off... and if you try to turn away, FJ will continue to hound you to come back but they will just end up screwing you differently if you do...

See John Maxwell like I said above, you can tell him Jeff sent you. I just bought a car from him last week.

ffejalink

Try moving from a state with no sales tax (Oregon) to a state with a 7.75% tax (CA). Best part is CA wants to charge me around $1,500 sales tax to register my car in their state. Sound crazy? I thought so too. There's a reason my car still has Oregon plates.

Ckeleganz

Alright i'll be there tomorrow at Laguna Niquel, and i got one last question, since i didnt sign any papers with Fletcher Jones, and i had the sale person sign a written paper saying that they will not cash the check without my approval and they'll hold on to it till my car arrives, but either way i could just cancel the check at my bank cuz i didnt sign anything except the credit app, right ?