I just bought a new Prius with 0% financing. The only problem is (and they did not tell me this until I got to the dealer and was signing the papers) that I have to put 50% down and pay list price. Package #6 is around $27,600. The alternative is to take out a 4 year loan at around 7.5% which would equate to about $3,500 in finance charges. Any ideas as to which way is better?
yeah, I would leave.....now unless you got horrible credit. My dad just got a prius in March, 0% financing with 2500 of MSRP without haggling with 3k down. Try a different dealership, what they are doing is dumb.
<div class='quotetop'>QUOTE(gail88 @ Jul 3 2007, 07:00 AM) [snapback]472142[/snapback]</div> Is it true that if you purchase a Prius in Connecticut you pay NO STATE SALES TAX ?? If so, is this just on the Prius or ANY Hybrid vehicle ?? I was born and raised in CT., lived there 48 years, then left there in 2000 when the I.T. jobs became "outsourced" and the I.T. / Computer field in the Northeast was saturated. Moved to Florida where there was once some I.T. openings.... now it's getting Deju Vu of CT. down here :angry:
<div class='quotetop'>QUOTE(FloridaWen @ Jul 3 2007, 07:24 AM) [snapback]472149[/snapback]</div> Yep, it's true. It's a nice savings, but they won't negotiate on price. Only haggling I could do was on my trade-in.
<div class='quotetop'>QUOTE(Ronald56 @ Jul 2 2007, 10:25 PM) [snapback]472032[/snapback]</div> So you would need a 4 year loan at 7.5% to pay for the half down necessary to get the 0% on the rest? What is the term for the half that would be at 0%? It may not apply, but I was able to get 0% for 2 years on the entire cost of the Prius in March, paid invoice, and will get the $1,750 tax credit. While this kind of deal may not be possible now, but mentioning it might get you something in negotiation.
<div class='quotetop'>QUOTE(Ronald56 @ Jul 2 2007, 11:25 PM) [snapback]472032[/snapback]</div> Have them drop the price $3500 and get the 4 year loan. Then pay the loan off early.
<div class='quotetop'>QUOTE(Marlin @ Jul 3 2007, 01:11 PM) [snapback]472340[/snapback]</div> I have a score in the mid 700s but they only offered me a 5.99% APR. I figured that if I pay 656/mo instead of the minimum 428 I will be done in 38 instead of 60 months and save over $1k in finance charges.
Couple points- Yes, CT still has no sales tax until Oct 2008. It only applies to a few cars, the Prius, Insight, Civic Hybrid. CT Hybrid Exemption ystsino, 5.99% isn't bad - I'm at 800 and haven't been able to find a rate lower than about 6.15 - mind if I ask where you got the 5.99? I'm finding many dealers who will negotiate in CT but only on the models they have on the lot. Anything they have to get elsewhere (order or trading from another dealer) they want full MSRP for.
<div class='quotetop'>QUOTE(Ronald56 @ Jul 2 2007, 08:25 PM) [snapback]472032[/snapback]</div> If you already bought it, then you are stuck with the deal you signed for on the paperwork. I've said it before and I'll say it again - You never get the deal you deserve, you get the deal you negotiate. Better luck next time.... Keith
<div class='quotetop'>QUOTE(Marlin @ Jul 3 2007, 09:11 AM) [snapback]472340[/snapback]</div> ystsino, I noticed the logo for Obama 08. I happen to be a supporter, as well, and would like to say Kudos!
<div class='quotetop'>QUOTE(Marlin @ Jul 3 2007, 10:11 AM) [snapback]472340[/snapback]</div> Check the details of the sales contract carefully. If the loan is front loaded, then there is little advantage of paying off the loan early. Keith
<div class='quotetop'>QUOTE(Malarkey @ Jul 3 2007, 07:27 PM) [snapback]472586[/snapback]</div> If you live out of state you'll be paying your state's sales tax when you register the car.
<div class='quotetop'>QUOTE(FloridaWen @ Jul 3 2007, 07:24 AM) [snapback]472149[/snapback]</div> Yes, I did not pay any sales tax on my 2007 prius and also qualified for the 1,750.00 tax credit. I dont know if its just on the Prius or any Hybrid vehicle. I purchased my vehicle in March of this year.
Thanks for all the input. Actually, I am very surprised at the answers to my question. Here on Long Island in New York, I have been to three dealers. The first (this is for package 6 - list is $27,544) would sell me the car for $16,200 with a $100 refundable deposit and financing at $7.5% for 4 years, however, it seamed that after 3 weeks, he was not really trying very hard to get me one. The second wanted a $1,000 non-refundable deposit, financing the same but would guarantee he would get me my 2 color choices within 6 weeks. I really like this guy. Then I saw this add for the 0% financing. So even with the 50% down, it thought it was a great deal by saving me about $3,500 in finance charges. 36 payments of around $425 and I have 100% equity in the car. Low financing rates in my area doesn't seem possible. Anyway, the dealer is telling me the car is incoming and he should have the vin number by the end of next week. I am really not sure why he doesn't have it already. He assures me I will get the car. I asked him why he can't on the bill of sale tie me to the exact car, he said his name and my name or in his system and not to worry about it. I guess I shall see. Any more thoughts, I am all ears. - Ron
<div class='quotetop'>QUOTE(Ronald56 @ Jul 4 2007, 11:40 PM) [snapback]473294[/snapback]</div> My only thought... who's the dealer? I'm looking for one, too
I don't know how often they do it, but I got $0 down, 0% financing when I bought mine in March, and was able to haggle the price down about $2,400 also. I know someone else who got their Toyota minivan with the same 0 down/ 0% financing deal several months before I got mine, so it must be something they do from time to time in the Southeast Toyota dealership region (they were offering the same deal at other dealerships in the area). They also covered the taxes, title and fees. I'll post here next time I see them running these terms.
<div class='quotetop'>QUOTE(formerVWdriver @ Jul 5 2007, 07:22 PM) [snapback]473730[/snapback]</div> when i got mine Toyota was running 2.9 for 60 months in their oh/ky/mi region, but i opted for the lease special instead.
