The vendor claimed he might be able to get me 450 @ 84 months, but when I left, the financing terms were 494 @ 84 months.
The 84 months had confused me by then. I chose to postpone and consider my options as I was unaware that it was a possibility. Ideas?
I should have mentioned that the truck is 4k miles old but is still in use. Edit 2: I also neglected to clarify that my corella could be traded in. I am getting offered $16,000, so my down payment would be about $4,500.
$450 a month for 84 months at a 3% interest rate on a $34,000 out-the-door price doesn’t add up. Something seems off. We need more details, how much was the down payment? What is the total out-the-door price?
Sorry, I forgot to mention the trade-in. They are giving me $16,000 for my Corolla, which leaves me with about $4,500 as a down payment. Based on the offer, I wouldn’t be paying anything out of pocket.
It looks like they are offering you around a 4.69% interest rate, which isn’t too bad, but over 84 months, you will end up paying about $5,700 just in interest. That seems like a lot.
They recently made a 450-month offer. To get things done, it appears that they are increasing the offer on my Corolla. They are essentially selling it for what I paid for it.
