Does my calculations seem right?

[LiquidG]

Is this how you calculate a finance?

$30, 500 +tax = $35, 075

$35, 075 -downpayment $10, 000 = $25, 075

$25, 075 / 60months = $417.92

$417.92 * 1.05(5%) = $438.82 CND a month

The dealer was trying to tell me before tax if the car was 33 355 with $10000 downpayment for 60 months I will be paying $580.00 a month that seems wrong with a 10 k downpayment ...... Also that 580 doesnt include tax :iono: also remeber these are canadian prices.

 

[davesee]

just do a google search for auto loan calculator.. plug in your values and see what it says. 580 sounds a bit steep

 

[Dubdr]

I think he forgot to carry a 1 or something cause that doesn't sound right at all.

 

[vdubGTi]

Here it is a good calculator:
http://www.edmunds.com/new/2006/volkswagen/gti/100684934/calculator.html

 

[vdubGTi]

You are financing 25,075. I came up with 473.19. and of course that would be canadian.

 

[GTI2007]

I think that sound a lot more realistic than the $ 580 the dealer said

 

[h82bslo]

dude,
he's trying to pull some scandelist number playing.
from all the dealings i've done in the past i think i know what's he's doing.
he took the total you're financing and added the interest onto it.
25075 * 5%= 1253.75
he then took that and multiplied that by 5 years
1253.75 * 5= 6268.75
added that to your finance amount and divided that by 60 months
25075 + 6268.75= 31343.75
31343.75/ 60 months= 522.39
i came out with an amount lower then his, so i believe he's placing tax and license onto your total amount and trying to scam you into paying it again.
this is not a dealership you want to work with.
i've seen many dealers trying to pull this move.
use your sources so you won't get ripped off.
the $473.19 is the correct amount.

 

[the_saint]

Don't haggle a payment with this guy, haggle a price.
If you let them 'work a payment' for you, you will get screwed.

 

[LiquidG]

K I figured it out.... That bastard

 

[atomoverride]

I did my calculations and it seems I am going to owe 2,300 for tax. WTF! tax gosh damn it.

 

[azmcs]

Typically a payment is about $100/month for every $5k financed. If it seems much more than this ask your percentage rate and why??

My dad was in F&I for many years. He has dealt with some seriously shady jerks that worked for him. One guy didn't think he had "a win" unless he was getting an extra $50/month out of people. Like it was some effin game.

FInd a price and pay that. Have another source of financing set up so you can walk in with a check in hand if some one is giving you a bunch of bull. And finally find a dealership that is recommended by other dub owners, ie ask on the "Tex.:biggrin:

 

[KaynE]

Don't forget insurance.

 

[LiquidG]

i got a quote of 530 $ a month with a gti and a 2002 chevy venture 2 accidents in the last 6 years, on my parents insurance, im 19 im paying for the car but putting them as owners, and me as 2nd driver, if I were to insure it myself it would be 1200 $ a month.

Oh and im not the one who crashed.