Pissed I bought a 2010 for 38K!!
10-09-2010, 07:31 AM
#11
2nd Gear Member
Join Date: May 2008
Location: Liberty City, FL
Posts: 311
You have to factor in interest rate like the last guy said. They are not going to give you 0% once they knock of 7 grand, so in the long run it might not have been that bad. I did the same thing as you, only I bought back in April.
You live and learn, enjoy the car and forget about it.
You live and learn, enjoy the car and forget about it.
10-09-2010, 08:06 AM
#12
You may have been able to get a better deal, but unfortunately it's alittle late to be worrying about it. Just know that you got a great car and enjoy it!
Last edited by 05 Mustang; 10-09-2010 at 08:09 AM.
10-09-2010, 09:03 AM
#14
2nd Gear Member
Join Date: Jul 2009
Location: Indiana
Posts: 161
I just plugged in some #'s in a loan calculator. The rebate #'s are based on current promotions here in Indiana.
$37,500 sticker, $5000 rebate, 72 months, 4.79% interest, 7% sales tax, = a payment of $562.27. Total amount paid over life of the loan is $40,483.44.
Now, same car, same terms, only with 0% interest & only a $1000 rebate, the payment drops to $543.40. Total amount paid over the life of the loan is $39,125.
If the OP keeps the car over the life of the loan he would wind up paying less than had he taken the higher rebate. However, if he trades or sells the car early, he'll most likely be more upside down due to paying more initially.
My point is that they're going to make their money, one way or another.
$37,500 sticker, $5000 rebate, 72 months, 4.79% interest, 7% sales tax, = a payment of $562.27. Total amount paid over life of the loan is $40,483.44.
Now, same car, same terms, only with 0% interest & only a $1000 rebate, the payment drops to $543.40. Total amount paid over the life of the loan is $39,125.
If the OP keeps the car over the life of the loan he would wind up paying less than had he taken the higher rebate. However, if he trades or sells the car early, he'll most likely be more upside down due to paying more initially.
My point is that they're going to make their money, one way or another.
10-09-2010, 09:17 AM
#15
$38K is horrible; you should be driving a '11 GT Premium or CS with that new 5.0 Coyote instead of the phased-out 4.6L 3V.
If I were you, I would call the dealer, and bring back the car. Some dealers have a customer satisfaction guaranty and if you are not satisfied with the car in a certain time frame, no questions asked. See if you are within that time frame.
10-09-2010, 10:21 AM
#16
4th Gear Member
Join Date: Mar 2007
Location: Portland, OR
Posts: 1,747
I dont think there is a dealer anywhere in the country that would take it back after almost 2 months. One of the best I have seen is 5 days or 300 miles, no questions asked. After that, it's yours.
OP, they got you pretty good, but as someone else mentioned, most of us have been there at some point. Dont sweat it. Enjoy the car, it's not like you bought a kia or something poopy like that.
OP, they got you pretty good, but as someone else mentioned, most of us have been there at some point. Dont sweat it. Enjoy the car, it's not like you bought a kia or something poopy like that.
10-09-2010, 10:35 AM
#17
Could have done what I did....
98GT 118k for 4,500
one month later coolant gauge fails
three months later TOB goes
@ 150k the rear is starting to howl
Moral of the story, suck it up you have a warranty......
98GT 118k for 4,500
one month later coolant gauge fails
three months later TOB goes
@ 150k the rear is starting to howl
Moral of the story, suck it up you have a warranty......
10-09-2010, 10:56 AM
#18
4th Gear Member
Join Date: Jun 2010
Location: Illinois
Posts: 1,846
