Got approved for a $19k car can I still get a better rate?

[gsxr600k6]

So I did the paperwork today and I will be taking delivery next week. 2011 G37 with 25k miles. I'm kinda disappointed I didn't have any leverage to negotiate the price of the car, wholesale value is $23k and I got it for 19k. The dealership supposedly was taking a $4500 hit as it has been sitting fo 60 days or more. It came out to $23k with an extended warranty that covers the vehicle for 7 years (it has existing basic warranty from nissan till 2015) for additional $2500. He worked out a deal where I would put down only $250 and he would absorb the $1000 difference if I get the warranty. Payments are $450 a month at 12.7% and he said he will personally refinance the car in 7-8 months once the score goes up. Overall It was a positive experience

[Chrisla2077]

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@Creditaddict wrote:
Funny thing is my partner and I just financed a car and my EQ jumped 20 points when the new auto loan reported!

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I wish that was my story. I lost almost 40 points when my auto finance hit

[gsxr600k6]

Ouch 40 points is not fun. BTW, the bank that approved the loan was americredit. Everyone else declined me or wanted to charge me ridiclous interest and wanted large downpayment.

P.S for those who say just buy a $2-3k car and drive it till your credit gets better, I have one thing to say. That is not always realistic and in my case it's a nightmare. The car I was driving and still driving (till I take delivery) is simply not safe for road use, the brakes were faded, no ac, no damn power steering, no speedometer, list goes on and o. Fixing  it alone would probably have been half or the value of the car, it got to a point where I was so fed up that I bit the bullet and decided to just get a newish car with warranty that is resaonable priced and looks pretty damn good. Sure the interest is a little high but I know I can refinance when I build my credit back up. Just my 2 cents. 

[Chrisla2077]

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@gsxr600k6 wrote:

Ouch 40 points is not fun. BTW, the bank that approved the loan was americredit. Everyone else declined me or wanted to charge me ridiclous interest and wanted large downpayment.

P.S for those who say just buy a $2-3k car and drive it till your credit gets better, I have one thing to say. That is not always realistic and in my case it's a nightmare. The car I was driving and still driving (till I take delivery) is simply not safe for road use, the brakes were faded, no ac, no damn power steering, no speedometer, list goes on and o. Fixing  it alone would probably have been half or the value of the car, it got to a point where I was so fed up that I bit the bullet and decided to just get a newish car with warranty that is resaonable priced and looks pretty damn good. Sure the interest is a little high but I know I can refinance when I build my credit back up. Just my 2 cents. 

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I agree with you here. I couldn't do that either ...and I was borrowing a truck from my dad that was breaking down every few weeks. You did much better on interest than I did though. I just hope some refi offers roll in for me.