Should I pull the trigger?

[Macfarland]

Hey guys!!
I wanted to keep my S197 until the wheels fall off but a Magnetic 2016 GT PP with 10K miles advertised for $31,999 appeared in Irvine (hour plus drive from where I live) They sell it to me for $30K even. I bought my 2010 less than 3 years ago. I still owe $12k and needs new tires plus replace struts and shocks plus a few upgrades here and there which means I have to put around $4k to my ‘10. Most dealers in SD offer me max $10.5k This dealer in Irvine offers me to payoff the car. My credit is so so and I got 3.99%
Good deal?
I love the Magnetic S550 plus is the 2016 which has the hood blinkers.
I was planning on going tomorrow to close the deal.
Thanks in advance!!

Alex

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[gmupatriot]

Is 30K out the door price? Like taxes, titles, fees ?

 

[Hashbrownn]

I'm gonna say spend the $4k, & pay off the car. Instead of adding onto the debt.

 

[smann]

I'm gonna say spend the $4k, & pay off the car. Instead of adding onto the debt.

Me too..

3.99% is pretty steep as well.

 

[Macfarland]

Is 30K out the door price? Like taxes, titles, fees ?

$30K plus TTL

 

[GT-SV]

Do it if the numbers are good. The 2016 GT versus 2010 is a huge upgrade.

 

[jacknifetoaswan]

I don't think it's that great of a deal. You should be able to find a low miles GT/PP for a few thousand less than that. I'd expect to pay about $26,500, tops.

JR

 

[AppoTheApple]

I don't have a PP, but I have all the premium stuff and only 3k miles on the car, and I only paid 27k for it one year ago. If it's a base model, you can easily talk them down or find a better deal.

 

[GNN60GT500]

Premium model?
3.99% is too high
If you are renting save the money for a down payment
If you own maybe depending on premium model and if you can get lower rate

 

[Nagare]

Looks like a GT Premium PP.

I'd see if you can't talk them down at all. There's a yellow one in Brea for 30 but with 20k on it, might be able to talk both of them down on them. There's also this one for 27 but with 32k on it.

 

[nastang87xx]

Yeah I don't think it's a great deal either. You're upside down on your other car PLUS maintenance that isn't exactly small...

So unless there's something about your financial situation that we don't know about (and frankly, it isn't our business to be brutally honest), not a good idea.

 

[poncho@home]

The fact that they are paying you for your loan on your '10 is huge. You wouldn't likely sell it for that amount if you tried.

3.99 is a little high.

Is there a sales tax offset because you are trading in your '10? That would be a benefit as well.

The '16 might ok price if that is a premium model, not a base model.

You'd probably be able find one a little cheaper, but the overall deal with your trade-in looks decent.

 

[Cardude99]

Agree seems high plus interest rate is too much. With good credit don't settle for anything above 3%. Used 2016 I would say 27k otd would be better.

 

[GT-SV]

Note: There is no sales tax offset in California. Sales tax in CA is based on value of vehicle being purchased (used or new).

 

[Macfarland]

It’s the premium. I can’t get a better apr because my credit is under 680. Well, that’s what they say. Supposedly they can’t get any lower because it’s a competitive price for the surrounding market. I’ll probably wait another week.

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