1st time buyer

[racert33]

I am considering getting a new car, and at the top of my list is the new camaro. i've figured out that what i want is a 2LT with RS package and auto(never driven stick) which should have MSRP around $29,000, which is fine by me. However, people i've talked to have told me to expect to pay at least six grand more because of dealer prep and such. I would expect that all i need to pay is MSRP + tax (around $2000). Should i really expect to end up paying $35,000 for this car?

BTW, my brother recently got screwed by this. He payed nearly $5800 for a motorcycle that they sold to him at MSRP of $4000, i think

[jeffny09]

Originally Posted by racert33

I am considering getting a new car, and at the top of my list is the new camaro. i've figured out that what i want is a 2LT with RS package and auto(never driven stick) which should have MSRP around $29,000, which is fine by me. However, people i've talked to have told me to expect to pay at least six grand more because of dealer prep and such. I would expect that all i need to pay is MSRP + tax (around $2000). Should i really expect to end up paying $35,000 for this car?

BTW, my brother recently got screwed by this. He payed nearly $5800 for a motorcycle that they sold to him at MSRP of $4000, i think

u should only be paying msrp plus tax titl reg, and thats it nothing more nothing less,they are bsing you on this forum is a list of dealers that charge only msrp take a look at it its in the ordering forum

welcome to the site btw
youll learn lots

[Wassert]

yeah im in the same situation and i got told the same thing he said i need to make at least 3 grannd a mnth and put 6 grand down for a 2LT/RS

[jeffny09]

Originally Posted by Wassert

yeah im in the same situation and i got told the same thing he said i need to make at least 3 grannd a mnth and put 6 grand down for a 2LT/RS

why would your need to make 3 grand a month-and oput down 6 grand for what? these dealers are stupid-they have not a clue they just tryin to make an easy buck tell them to go f them selves- find a new dealer there is plenty on this list

[Mr_Draco]

Originally Posted by racert33

I am considering getting a new car, and at the top of my list is the new camaro. i've figured out that what i want is a 2LT with RS package and auto(never driven stick) which should have MSRP around $29,000, which is fine by me. However, people i've talked to have told me to expect to pay at least six grand more because of dealer prep and such. I would expect that all i need to pay is MSRP + tax (around $2000). Should i really expect to end up paying $35,000 for this car?

BTW, my brother recently got screwed by this. He payed nearly $5800 for a motorcycle that they sold to him at MSRP of $4000, i think

MSRP for a auto 2LT/RS is roughly $30,000. Tax brings the cost almost to a dead even $32,000. Most dealers nowadays charge a "paperwork fee" of around $600 and the prep fee is already included in the cost of the car so if the dealer tries to charge you again tell them no. Depending on the cost of tag and title in your state, the most you should be paying is $33,000.

[Inspector 17]

Originally Posted by racert33

I am considering getting a new car, and at the top of my list is the new camaro. i've figured out that what i want is a 2LT with RS package and auto(never driven stick) which should have MSRP around $29,000, which is fine by me. However, people i've talked to have told me to expect to pay at least six grand more because of dealer prep and such. I would expect that all i need to pay is MSRP + tax (around $2000). Should i really expect to end up paying $35,000 for this car?

BTW, my brother recently got screwed by this. He payed nearly $5800 for a motorcycle that they sold to him at MSRP of $4000, i think

Welcome to the site. When do you want to buy the car? If you are willing to wait for a while, you might be able to get a better deal. If you want one within the first few months, MSRP is about as good as you are going to get. Don't forget to consider any personal property taxes (some states), insurance, etc.

[InventoryGuy]

Originally Posted by jeffny09

why would your need to make 3 grand a month-and oput down 6 grand for what? these dealers are stupid-they have not a clue they just tryin to make an easy buck tell them to go f them selves- find a new dealer there is plenty on this list

slow down cowboy.....

the suggestion about income is founded actually. it is all based on income to debt and some other factors. ALL lenders will only allow a certain percentage of your earnings to be allotted to your car payment. That percentage varies by lender, credit score, and credit history.

the suggestion of 6 grand down sounds reasonable because with modern lending everyone has a "carry rate" which basically means the amount over invoice being financed. with first time buyers AND bad credit customers a lot of lenders require you to be UNDER 100% carry. In a circumstance like buying a $30k car with 3k mark up you "might" be required to pay all of your tax, title, and license as well as the mark up at signing to get the carry rate under 100% of invoice.

Please explain how requiring a certain monthly income or amount down makes an more money for a dealership?

so before you start spouting bullshit you might want to know what you are talking about.

To the OP, I suggest you get a good co-signer. On most lenders your loan details are based off the highest and best credit on the loan. So if you have a good so-signer then you "might" be required to have less money down and then their income is also considered on the loan. it will help you establish good credit without having to pay high interest in the process.

Listen to everyone else, everything is negotiable. The only thing you should be paying is the negotiated purchase price plus Tax Title and Licensing. There should be no loan fees, inventory tax, dealer prep fees, etc. these are things dealerships try to tack on to make more profit on the deal.

And for the love of God don't listen to these people who almost WANT to fight a dealership. Just do your research and work with a good dealership.

[Wassert]

thanks inventory guy but does that sound right to you? i mean when he explained it to me it made since but i just wanted to make sure

[jeffny09]

Originally Posted by InventoryGuy

slow down cowboy.....

the suggestion about income is founded actually. it is all based on income to debt and some other factors. ALL lenders will only allow a certain percentage of your earnings to be allotted to your car payment. That percentage varies by lender, credit score, and credit history.

the suggestion of 6 grand down sounds reasonable because with modern lending everyone has a "carry rate" which basically means the amount over invoice being financed. with first time buyers AND bad credit customers a lot of lenders require you to be UNDER 100% carry. In a circumstance like buying a $30k car with 3k mark up you "might" be required to pay all of your tax, title, and license as well as the mark up at signing to get the carry rate under 100% of invoice.

Please explain how requiring a certain monthly income or amount down makes an more money for a dealership?

so before you start spouting bullshit you might want to know what you are talking about.

To the OP, I suggest you get a good co-signer. On most lenders your loan details are based off the highest and best credit on the loan. So if you have a good so-signer then you "might" be required to have less money down and then their income is also considered on the loan. it will help you establish good credit without having to pay high interest in the process.

Listen to everyone else, everything is negotiable. The only thing you should be paying is the negotiated purchase price plus Tax Title and Licensing. There should be no loan fees, inventory tax, dealer prep fees, etc. these are things dealerships try to tack on to make more profit on the deal.

And for the love of God don't listen to these people who almost WANT to fight a dealership. Just do your research and work with a good dealership.

aight homie

[TAG UR IT]

SHOP AROUND!!!

You should NOT be paying anything over MSRP for anything. Run out and find a dealer w/ allocations. You'll be fine. But, get everything in writing...and AT MSRP.

[Matster]

Sounds to me like there is some confusion between the price of the car and Racert33's and or Wassert's loan requirements. IMHO that was what InventoryGuy was explaining, the personal credit/loan requirements.

[The_Blur]

Dealer preparations and other nonsense like that are scams. Tell your dealer to cut the crap.

Your dealer is an idiot.

[5th_GEN_SS]

if u got an SS is there an additional tax? as i think most preformance cars have cuz of the gas consumption and whatnot?

i forget what it isw called...its an additional fee to sports cars, maybe that is only in ohio where i live tho? i donno

[Inspector 17]

Originally Posted by 5th_GEN_SS

if u got an SS is there an additional tax? as i think most preformance cars have cuz of the gas consumption and whatnot?

Originally Posted by 5th_GEN_SS

i forget what it isw called...its an additional fee to sports cars, maybe that is only in ohio where i live tho? i donno

Do you mean the Gas Guzzler Tax?

What is the Gas Guzzler Tax?

The Energy Tax Act of 1978 established a Gas Guzzler Tax on the sale of new model year vehicles whose fuel economy fails to meet certain statutory levels. The gas guzzler tax applies only to cars (not trucks) and is collected by the IRS.

The fuel economy figures used to determine the Gas Guzzler Tax are different from the fuel economy values provided on this web site and in the Fuel Economy Guide. The tax does not depend on your actual on-the-road mpg, which may be more or less than the EPA published value. The purpose of the Gas Guzzler Tax is to discourage the production and purchase of fuel inefficient vehicles. The amount of any applicable Gas Guzzler Tax paid by the manufacturer will be disclosed on the automobile's fuel economy label (the window sticker on new cars).

GAS GUZZLER TAX
Unadjusted MPG (combined)* Tax
at least 22.5 No tax
at least 21.5, but less than 22.5 $1000
at least 20.5, but less than 21.5 $1300
at least 19.5, but less than 20.5 $1700
at least 18.5, but less than 19.5 $2100
at least 17.5, but less than 18.5 $2600
at least 16.5, but less than 17.5 $3000
at least 15.5, but less than 16.5 $3700
at least 14.5, but less than 15.5 $4500
at least 13.5, but less than 14.5 $5400
at least 12.5, but less than 13.5 $6400
less than 12.5 $7700


Look here: http://www.fueleconomy.gov/FEG/info.shtml#guzzler