Layout:
Home > More car stuff

More car stuff

July 20th, 2005 at 05:45 pm

So the bad news is that both hubby and I decided we need to get a new car, soon. The good news (always trying to make lemonade out of lemons Smile) is that my company participates in arrangements with three corporate buying programs, all of which contract with automobile dealers to give you the best possible price without haggling (which I hate). A colleague of mine recently used the GoldStar directory, so I tried it. They gave me the phone numbers for salesmen at relatively close dealerships for the 2 cars we're interested in. I called and told them the type of car I wanted, which options, and which prices, and they both quoted me prices over the phone that beat Edmunds "True Market Value" price, by between $1000 and $1500 dollars! Can't beat that! We like both cars, and will probably test drive them this weekend before making our choice.

Now it's on to financing. If we go with the (slightly) more expensive car, they have a promotion now where you can get the loan for 3.99% through their financing company. Otherwise, we're on our own. The salesman over the phone said going through him would probably get me a rate around 5%, so I'll try to do better than that. I'll start with LowerMyBills and Eloan and see where I end up. I was thinking of using my home equity line, but the rate (prime-1/2) is now up to 5.75%! Even though it's deductible, I think the fixed rate around 5 would be better. Man, I need to pay that beast off.

So that's my scoop. The downside of this new loan is that it will probably come out of the money I was going to use to pay down the home equity line, which means it will take longer to close that out. So I really want to redouble my efforts and try to shave more money out of other areas of my budget, if possible. We'll see...

0 Responses to “More car stuff”

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]