Looking at buying an RX8
Just wondering if you guys could help me be better prepared. I thought some of you might have some experience with this.
I found an 05 Rx8 that I wanted to purchase...list price $10,150 they offered me $5,200 for my Mazda 6 on trade. I was looking at financing the difference, thinking the payments would be fairly low, but they are coming back at $129 bi weekly for 36 months, that works out to close to $10,000. Can anyone tell me how that is possible? It just doesn't seem right to me. |
How much of the payment is going to principal?
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It sounds like a high interest loan but if you want it and it makes you happy go for it.
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remember, if you car is going on trade, you subtract the amount of the rx8, from your trade then add tax, to me it looks like your interest rate is around 33%. so unless you have terrible credit, you should walk away from them, and maybe even... nvm just walk away
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I have good credit, and the interest rate isn't that high. It is apparently around 4.9%. The problem is this is all done over phone and email and I can't see the breakdown in front of me. I think they have tacked on some other things onto the price of the vehicle.
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Originally Posted by dorfer_09
(Post 4281120)
I have good credit, and the interest rate isn't that high. It is apparently around 4.9%. The problem is this is all done over phone and email and I can't see the breakdown in front of me. I think they have tacked on some other things onto the price of the vehicle.
For srs: Listen carefully to the dealership commercials. Tax, title, license and dealer fees extra. Expect a $500 doc fee, tax, however much it costs to tag the car for a year, and they are probably trying to sell (and some banks require it for an old and/or high mileage car being financed) some kind of extended warranty. |
^ In Ontario the law requires dealers to abide by "All-in pricing" as in the price they tell you includes all mandatory fees already - the only thing they can make you pay on top of that is taxes. Anything else is optional. If not you can file a complaint.
Typically if you're not happy with the interest rate the dealer offers its worth seeing if your bank will give you a loan ; if you have great credit and your bank likes you the interest on a bank loan would be less than what the dealer offers. |
Originally Posted by rx8-druggist
(Post 4281193)
^ In Ontario the law requires dealers to abide by "All-in pricing" as in the price they tell you includes all mandatory fees already - the only thing they can make you pay on top of that is taxes. Anything else is optional. If not you can file a complaint.
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Originally Posted by AZ R3
(Post 4281202)
Canada kicks ass.
I was just in Florida last week and it still blows my mind how cheap alcohol and tobacco is. |
We should make a deal. You trade us meds, we'll trade you booze and smokes.
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Originally Posted by Boeuf
(Post 4281258)
Keep in mind we get taxed like crazy on just about everything.
I was just in Florida last week and it still blows my mind how cheap alcohol and tobacco is. |
Hey Guys, any input on these 2 vehicles.
I like the 2005 because it is a little newer, but the 2004 has less kms http://www.carpages.ca/used/2004/Maz...Ontario/968185 http://www.carpages.ca/used/2005/Maz...Ontario/953848 |
Originally Posted by dorfer_09
(Post 4295304)
Hey Guys, any input on these 2 vehicles.
I like the 2005 because it is a little newer, but the 2004 has less kms http://www.carpages.ca/used/2004/Maz...Ontario/968185 http://www.carpages.ca/used/2005/Maz...Ontario/953848 |
Also keep in mind: at least half of what you spend on this car will vanish. Do not expect any reasonable sort of financial turnaround on an RX8. :P
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I am about to buy an rx8 myself and I was wondering if the car comes safe and E-tested does that mean its good to go?
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Originally Posted by Matrx8
(Post 4281264)
We should make a deal. You trade us meds, we'll trade you booze and smokes.
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Originally Posted by Thief
(Post 4298844)
Boo to your booze. Yay to your smokes.
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Just wondering if anyone here traded this car into Yorkdale Dufferin Mazda.
They had said it was traded in locally on a new RX8. Just thought I might get lucky and the person who traded it in was on here. 2004 Mazda RX-8 GT-MANUAL-ROOF-LEATHER - For Sale | TORONTO ON |
Forgot to mention (and this is much more relevant than my first post!) I bought mine from a dealer with a high-interest loan as well. But the loan was open, and I had the cash to spare, so I was able to buy out the loan after a few months. Presumably saved me a few grand. Realistically if you want to finance just a few thousand, a bank loan (e.g. line of credit or something) is your best bet. If your credit is so bad that you can't get a bank loan, then you're stuck with high interest!
Originally Posted by dorfer_09
(Post 4324391)
Just wondering if anyone here traded this car into Yorkdale Dufferin Mazda.
They had said it was traded in locally on a new RX8. Just thought I might get lucky and the person who traded it in was on here. 2004 Mazda RX-8 GT-MANUAL-ROOF-LEATHER - For Sale | TORONTO ON Anyway, nothing looks bad about that one. Have you been for a test-drive yet? :D |
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