#sadface Minor setback?

[Anonymous]

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@Dj4Money wrote:

 Of course a dealer won't let you walk out without keys, that isn't the point.

  1) You don't want to over pay. Invoice is the MOST you should pay. If you pay more you just wasted money.

  2) You don't want to pay any old finance rate either, it will cost you money. Why pay 2.9% when you could have gotten .9%?

 Your scores are 700+ across the board. You likely don't need Capital One Pre-Approval anyway, if the managers are honest you will get .9% 

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I get what you're saying.  Makes perfect sense.  I've a very good friend that works at Edmunds and she's been wonderful letting me know if the quotes I've received are good or not.  The top contender at the moment has an OTD price of $26,853.58.   The EX-L is priced at $24,034.00 which is below KBB Fair Purchase Price.  From reading the forum (I lurk a lot), I know that re-fi is always an option.  I'd rather get the best finance rate out the gate though.  All the other dealers I've gotten quotes from either won't give me a detailed breakdown or try to get me to be tempted by the navigation and honda sense.  Don't want it, don't need it.

[Anonymous]

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@Anonymous wrote:
Sadly, slightly less than the price of the car. My DTI is very low as I paid off all my debt. I don't pay a mortgage or rent so that's not an issue. I understand I'm reaching a bit for this car. But darnit, my salary supported rent in excess of what I figure my payments would be for years. I may just need to wait and build up a bigger down payment.

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The question you should be asking yourself is why you feel it is necessary to spend 20-25% of your income on a vehicle? I don't know your complete situation but that just sounds like a terrible idea. 

[Anonymous]

We still get those in the mail for 40k and in the trash they go.  You can do better else where.  I think Chase would give you a better deal.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
Sadly, slightly less than the price of the car. My DTI is very low as I paid off all my debt. I don't pay a mortgage or rent so that's not an issue. I understand I'm reaching a bit for this car. But darnit, my salary supported rent in excess of what I figure my payments would be for years. I may just need to wait and build up a bigger down payment.

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The question you should be asking yourself is why you feel it is necessary to spend 20-25% of your income on a vehicle? I don't know your complete situation but that just sounds like a terrible idea. 

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Necessary, no.  They could just let me have it for less than 20-25% of my income but I don't think they will  I've never had a new car I actually picked out for myself.  I've asked myself the same questions when figuring out my budget for this vehicle and my math shows it's doable.   I misspoke when I said less than the price of the car.  It was late at night and my brain was wonky.  I make more than the car's value, not less but it's not by a whole heap of a lot.  I understand my decision may not align with others and that's fine.

[Anonymous]

definetly agree with you, if you want that car then GET IT, make sure you do it right though (right price and financing). if you did your budget and can afford then why not? you only live once in this world, grab what you want and work hard for it. Just make sure you do it right, and dont go get an high interest loan lol.

Good luck to you!.