I had my Fit for over a year and I just wasn't happy with it. I mean there was nothing out there parts wise and it was just too sluggish for me. The Dealer also talked me into getting an automatic so it just wasn't fun to drive.

So last week I went to Hardin Honda in Anaheim to see about getting an FG2, I did a little research before going to the dealer and found that they had an 07 Civic Si coupe in stock which was Certified and only had 54K on it. After test driving it I fell in love and just could not leave with out it.

After spending two hours at the dealer trying to make a deal to trade in my GD for the FG. Long story short they wanted $4500 down and $490.00 a month for 5 years. Before leaving I managed to talk them down to 3k down and 410 a month payments for 6 years. Needless to say they wouldn't do the deal with no cash down so I had to say good by to my love before I even got to know her.

Feeling defeated I started scheming on ways to come up with the money. I had decided to ask my dad to co-sign to see if they would do the deal with no cash down and 3k payment within 90 days. After running my dads credit they said that if he where to co-sign it would actually hurt me more then it would help me. At that point I was ready to throw in the towel, and I was feeling more and more like I was stuck with the Fit.

Now in the third day I wasn't quite ready to give up. I asked my step dad if he would loan me the money. I told him i would some how pay him back the money within 3 months. He agreed to think about it and would let me know by the end of the day. So I went to work fingers crossed and prayed most the day. I figured it would never happen, but to my surprise he agreed to loan me the money if I signed a contract promising to pay him back in 90 days.

So after all that I finally got eveything I needed to pickup my new love interest the FG2.

Final deal:
2007 Civic Si $16,300
Extended Warranty
Gap Insurance
Upgraded Alarm
$3,000.00 Down
13.7% APR 72 Month Term
$3,000.00 Down
$446.00 Monthly Payments

Trade-in
2008 Fit Sport $11,400.00 (owed $15,300.00)


Whats a little debt if it makes you happy right.

I'll post pics when I get a chance to take some.

 

Post them in the picture thread.

 

geebus.. almost $500/month for a used car

 

That was my immediate thought.

6 years and $450/month?

R-A-P-E

 

You guys have to understand I owed on the Fit, I have 3900 in negative equity. My interest rate is almost 14%

I'll refinance and make principle payments that alone will drop my payments, besides I'm not worried about the payment I already knew I was gonna take a huge loss on my Fit. Oh and the payments for the Fit where $407.00 a month. So really whats an extra 40 bucks for a few months.

 

i just think thats outrageous lol

 

Yeah I actually agree, but I got what I wanted and I'm willing to pay the price

 

You financed a car for 6 years at 13% interest? You need to learn how to use a calculator, I'd back out of this deal if your state allows, you're getting raped.

 

446.00 for 72 months means at the end you paid $32,112. Factor in your 3k deposit and you would've paid $35,112 for a 16,300 car. That's is very very very expensive my friend.

I don't even pay $446.00CAD for my 09 si

 

I know how to do math :p

22,000 financed at 13.7% Interested for 72 Months = 449
Total financed by the end of the term about 32k

That means I would have payed 10k in interest in 6 years.

I'm going to refinance through my own bank later on, don't worry I'm not as stupid as I appear ;p

 

Why would you even do such a deal bro? Most states allow the buyer to return a vehicle within 7 days I'd do just that. Return it, get your fit back, and drive it until you have a better downpayment and a better interest rate. Otherwise you're literally pissing money away that you could use to pay down debt, invest for retirement or spend on car parts.

 

x2. The car is already an 07 with 54k miles, 16 300 is a lot. You got up to 22k (not far off an 09), 32k with your financing.

That just seems like a ton of cash for a car thats closer to 100k than 0k after only 2 years.

You could've gotten a far superior 07 car for that kind of cash.

May want to sleep on it but it doesn't sound pretty

 

Well regrettably it is in fact too late. California only gives you one opportunity to return your new car in the form of insurance that cost 750 cash on the spot. and even that only allows you to return the car if you have not put more then 250 miles on the odometer. I've already had the car for a full week :/

 

I would have been fine, but I traded in a car I owed 15k on (the fit) I was taking a loss to get the car I wanted.

I agree that if I was buying the Si outright and got this deal I would have looked else where, But since I traded-in a car with negative equity I really could not have gotten a better deal without having Tier 1 credit.

The original asking price for the Si was also 18k

damn guys you are bringing me down :/

 

Sorry man, not trying to be a dick just trying to voice an opinion.

Anyways as long as your happy thats all that matters. Enjoy your SI they are a blast.

 

Sorry, not trying to do that, enjoy your car.

 

Don't worry I know you guys are just lookin out for me :D

I appreciate all the advice but I'm stuck till I refinance with my own bank :/

 

shoulda just kept the fit....

 

Wow, just wow. Hopefully you have a pretty steady form of income with a payment like that a used 3 year old Honda.

Like you said though, it's your money.

 

I know, ****, I pay way less than that a month and bought mine new

 

Ouch...shoulda did some research first brah.

 

It's a fun car, enjoy it.

 

Holy ****, they raped your ***.

 

Did the dealer or the bank tell you this? This is a bold face lie right there. They wanted you and you alone on the deal because most likely you would have been approved at a lower rate but wrote the deal at the higher rate to make money. Also from the sound of it your dad wasn't there to help you negotiate, something the dealer doesn't want either.



Lol, dealers love payment buyers like you. The biggest battle a dealer has is to get the buyer to even agree to money down and a payment.

You should have been negotiating price of car and price of trade and then the finance rate, which by the looks of you didn't do any.

I really hope you are happy because I really feel bad for you.

Too bad you don't know me and we aren't friends, I could have gotten you out of there at $399 or less.


Only because YOU let them buy your Fit for $11,400. They bought your car for auction/wholesale price. trade value is $13,000, I would have held out for $12,500

Another mistake. They really got you on mental ownership, if you would have walked and let them call you-you would have gotten a better deal the next day. Talk about impulse buying on clouded judgement

I don;t think you do because if you realized the true math of the deal you would have walked. You should have tried financing thru your bank to begin with.

18K is an inflated price, they got full boat retail out of you. Bro, you said you did research before you went, I fail to see where you did. You should have asked BEFORE you went. The degree of negative equity is all your fault, to make matters worse you put money down.

Which you should have done to begin with.

Most likely they gave $11,200 for that Si when they took it in on trade. You made them $5000 when you bought it.
You let them buy your Fit for $11,400. You will help them make them at least $4000 when they sell it.

I wish I could remember the term managers use for a deal like this, $10,000 gross profit on 1 deal, HOLY ****!

These are the kind of deals desk managers love to see, I promise you your deal was the highlight in the sales meeting the next morning with high fives all around!

 

I guarantee the salesmen were giving each other high fives when you left. Only 54K? My 07 FA5 has 14K on it, and I doubt it's worth $17K. Salesmen bank on people being impulsive, and hopefully you learned your expensive lesson.