I was going to buy a FocusZX5 until members of the board alerted me to safety issues related to the Focus product. Thank you to all who took time to post a thread. Stopped today at the Toyota dealer by my home, one that has great customer service reputation. Walked the lot, did a test drive, and told rep what I wanted. I told Sales rep they could pull Equifax, one report only, or a trimerge if he needed to. Explained upfront about discharged 13Bk, and advised him what he would find on Equifax CR in terms of negatives and FICOscore. The Equifax score they pulled was 662, which was two points off of what I pulled yesterday through Credit Watch. All items on the CR are the same, no surprises. First response was $3000-$3500 down, and about 15% interest , no way to get less as down. I advised that if Toyota could not finance, I DID NOT want them to shop the loan around. I advised (as I had when doing test drive) that I didn't have to have this car right now, and that I would seek other options and perhaps car models before getting into that kind of financing. I then asked to talk personally with the Finance Manager and went over the CR and score with him before he went to run the numbers with whomever. He laughed at Library Felon entry as a collection account and said it would help to know that, since it does signigicantly contribute in a negative way to the score... Final deal: bought the 2003 Toyota Matrix hatchback, zero down and 10.2% financed by Toyota. Payments will be $362 at 60months. I appreciated the no down payment, since that will allow me to keep my rathole" money, and not have to take money against my 401K for a down payment. I want to always keep some sort of cushion, so there will never be a repeat of 6 years ago. I plan to live with Toyota finance rate for now and refinance next fall after BK falls off next June. That should give me an additional year's worth of payments and no negatives on the CR, should have a score up in the 700's by then. If you think I made a crappy deal, please don't burst my balloon too badly. I am doing this on all on my own, and I would like to think I got a reasonably good deal for someone in my circumstances. Just be glad for me that I got a car that will give me lots of enjoyment and safe travel, and that I didn't come out feeling raped, humilated, and defeated. These people were very nice, and very professional. Took about two hours including test drives, negotiations on price/finance options. I am going to pick my car up this pm, they are sending the courtesy van for me. I am happy that I will now have dependable transportation again. One inquiry, one car.
I don't know anything about the car you got, but big Kudo's to you for your no-nonsense approach to dealing with the dealership!! I have to admit, I'm not good at playing the game but I've learned a lot from the people who post here who've offer great advice. I think you should be patting yourself on the back and just keep doing what you're doing. Big CONGRATS to you and ENJOY! Newstdt
Congratulations. I wish I oculd get offered such a deal on a new car. The best we were offered & turned down was 12%. Enjoy your new car. Becky
new car is happy at home picked the car up about 6pm, am very very happy The Matrix has Corolla engine and chassis, body style is 4 door Hatchback. I got black with charcoal interior. My son hates Hatchbacks and he is not impressed because I didn't get the packaging that included electric windows, auto locks, keyless entry, fog lights and six CD changer, and some kind of flashboard things on the side of the vans. But you know, all that gee whiz stuff cost about 2K extra. I only roll down my windows when I am at Whataburger, or the drive thru ATM, and I can lock my own door if needed, so I decided to go the less expensive route. plus I am thrilled to have a CD player at all, let alone covet one that holds multiples. thanks for all the input especially from jpark31 who told me what the tiers were for FICO scores for Toyota financing. That insight gave me the courage to go into the dealership, and tell them what I wanted, and what I needed from them. I really mean it, jpark31 !!! it was just two lines, but the information really helped a lot.
Re: new car is happy at home Congratulations Maggie75 !!! I am happy for you. Enjoy your new Toyota for many years ! That is great that you walked out with a new car and no down payment !!!!
Re: new car is happy at home nice car! the one thing preventing me from fully enjoying my Matrix is the fact that my sucky credit made it cost as much as an Audi A4 in payments ($504), otherwise, it's a great car.
Re: new car is happy at home Maggie, Have read this thread even though my chrysler sebring convertible is only 17 months old and has only 7.5K miles on it. I had a really tough time negotiating this car...I only wish that I had known about this board then as I would have taken a completely different strategy. I think you made the right choice about the package. My car is loaded but I plan on keeping it until I finish law school (given I get in, of course) which will be 2006. By then my credit should be great and my salary should be a living. I think you did a great job...car negotiations are tough for a woman...there is still a male bias out there ...questions like "is your husband coming back with you??" (what husband..I replied...a long oooohhhh followed...felt like a two-legged tripod...lol) Enjoy the car in good health! clc
Re: new car is happy at home thanks for the words of sympathy about being a woman in a car dealership...those guys were great today, but I still felt like the proverbial fish riding a bicycle. Salesman did ask me why I wanted a hatchback rather than plain Corolla. Told him I liked to haul stuff ocasionally, and buying a Hatchback was going to be easier than finding and keeping a husband with a pickup truck. (divorced a LONG TIME now, I can laugh about the pros and cons of marriage. ) He laughed and said he saw the point.
