Do these numbers sound right?

[Anonymous]

Approved for a 7.9% rate and they are quoting us $640/mth for 75 months. Sales price of the car is $33,795. Monthly payment seems high for that rate. Any thoughts?

[Dragen]

No way. Every loan calculator I just tried using the numbers provided came back with ~575 monthly.

[Appleman]

Sales price, does this include sales tax? Dealer administration fee? If not, that could explain the increase.

There is another $3,955 tacked on in there on top of the sales price. The dealer finance guy will often present the numbers with an extended warranty or other add on and show you where the payment will be. If you are not folowing closely in closing they can slip one by you.

I would recommend going back to the dealer and sit down with the finance guy and go over your numbers line by line. If he packed in another product, cancel it. If it was sales tax etc thank him for the explanation.

Please let us know the outcome

[Anonymous]

Another reason to get preapproved with a credit union before you go shopping.  Dealer is pulling a fast one here.  Clearly the sales price is before their add ons, no idea what those add ons are but I would find out soon and deal with this.  Have you already signed and taken delivery of the vehicle?