@Anonymous wrote:
I am looking to purchase a 2017 Nissan Rogue SL with Premium Package. I used Auto Navigator with Capitalone and was pre-approved for $35k. Looking at different dealerships I came across one that’s fairly close to me and says on Auto Navigator that’s it’s $28.5k with tax and believe tag and title. Well I contacted the dealership today and the manager sent me back a message that this particular one is $31.3k. I responded that I wasn’t looking to spend more than $28.5k out the door. Then they responded that the lowest would be $29.3k BUT would have to finance with Nissan. Since they haven’t ran my credit I have no clue what the interest rate with Nissan is or if I’ll be bee approved. But with Capitalone Navigator with $1k down I’d have an interest rate of 8.73%. Which happens to be a lot lower than my last car that had an interest rate of 16% that I bought brand new out of bankruptcy.
With that being said. Would it even be worth it to have the dealership run my credit for Nissan just to see if they can beat the interest rate from Capitalone? I’m concerned about allowing them to run my credit then shop it around to different banks if Nissan won’t pick it up. Or just go with Capitalone since I’m preapproved?
Scores
Ex 612
Eq 607
TU 607
Income $99.3k annual
Advertised car prices never include tax, title & registration ("tags"), and there is usually other stuff a dealer tries to add on like "dealer prep", "clear coating", etc.
When the dealer came back with the $31.3 price was that "out the door", including tax, title, registration, etc.? If not that's bait & switch, advertising a low price and then changing it to higher price. If the dealer quote of nearly $3k higher then advertised on Navigator is before tax, title & registration be prepared for dealing with a slimy, dishonest car dealer. Check other car buying sites like Autotrader.com. You might find this same dealer advertising the same SUV at that $28.5k price there. If so, print out the listing & the Navagator listing and take it with you and demand they honor their advertised price. And on other car buying sites you might find other dealers in the area with better prices, but you'll have to check with Cap One that they honor Cap One's car buying service.
Be prepared to be very firm and not allow any dealer to run your credit, they will try everything to run your credit because they want a loan that gives them the best commission. Don't be lured by Nissan financing, manufacturer financing is geared toward higher credit scores than yours with low interest. I think you have a good plan to go with Cap One for now and get 6 months or more of payments under your belt and refinance with Navy Fed or other credit union, by then you should get a much better rate.
One last bit of advice: The last week of the month is the best time to buy a car, dealers are looking to boost their monthly sales quota and are more motivated to make the deal even if it's not as high a price they would prefer.
