For those who financed their MKV

[Xxyion]

MSRP: 56k
Sale Price: 51k
Trade in: -10k (yes negative equity, long story behind this)
OTD: 66k
Down payment: 9k
Financed amount: 57k
APR: 3.95% at 60 months

I normally wouldnt take such a hit on trade in, however the decision was either have a car parked in the garage that i cant drive due to medical reasons taking up 800$ a month in monthly payments, or take the small hit, pay a bit more each month and get to drive something that i enjpy.

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[turbopk]

MSRP: 56k
Sale Price: 51k
Trade in: -10k (yes negative equity, long story behind this)
OTD: 66k
Down payment: 9k
Financed amount: 57k
APR: 3.95% at 60 months

I normally wouldnt take such a hit on trade in, however the decision was either have a car parked in the garage that i cant drive due to medical reasons taking up 800$ a month in monthly payments, or take the small hit, pay a bit more each month and get to drive something that i enjpy.

Can always refinance if you plan on keeping the car long term. Get that APR down and payment down.
Honestly I'd be in the same situation if I were to trade in my DD right now, as I am still upside down on it even though my APR is 1.9% my previous trade in screwed me.

 

[turbopk]

Wow over 500 views now! Hopefully this thread will help those looking to finance an MKV in the future.

 

[NitroYellowMKV]

3.0 Premium W/ Driver assist/carbon mirrors/all the crap
MSRP $57,550
Negotiated Price $47,550
OTD Price- $50,878
Down payment- $35,500 ( yes I know high) but sold my F-type and wanted a low payment
Dealer fees- were 1k, some shrewd negotiating down to $0.00
APR- 2.99%
Monthly Payment- $278/ Month
With shipping cost of $1200/ added into monthly cost, technically comes out to $298/ month
Live in south florida, financed with Penfed, Tier 1 credit, 19 yrs old.

 

[F1 Silver Arrows]

3.0 Premium W/ Driver assist/carbon mirrors/all the crap
MSRP $57,550
Negotiated Price $47,550
OTD Price- $50,878
Down payment- $35,500 ( yes I know high) but sold my F-type and wanted a low payment
Dealer fees- were 1k, some shrewd negotiating down to $0.00
APR- 2.99%
Monthly Payment- $278/ Month
With shipping cost of $1200/ added into monthly cost, technically comes out to $298/ month
Live in south florida, financed with Penfed, Tier 1 credit, 19 yrs old.

You're... 19? And you own a GR Supra? Dayum dude good for you.

 

[NitroYellowMKV]

You're... 19? And you own a GR Supra? Dayum dude good for you.

thank you! it was not easy but I am super proud of it and worked my ass off to get it, and work my ass off to keep it haha.

 

[NitroYellowMKV]

You're... 19? And you own a GR Supra? Dayum dude good for you.

a local kid that lives around me is 16 and he has one too, but I know he was given it as a first car gift, but nothing wrong with that

 

[AAntilles]

As someone who sells cars for a living, this is such a broad topic. There are so many variables.

I would say determine how you are paying (cash, toyota finance, or outside finance), shop for price BASED ON HOW YOU ARE PAYING, then move on a deal that is in line with your research. A lot of dealers in my area were still holding out at MSRP or $1000 over if it was a red, yellow, or blue car.

My bank offered me a 2.9%/84 months where as Toyota offered me a 4.9/60 months and then up from there. I don't have Tier 1 credit, but I also do not have bad credit. Someone financing through Toyota may also get a bigger discount than someone using their own lender or paying cash. Toyota offered me an additional $1000 off to finance through them, but overall my costs would have been higher.

I was happy with my discounted price ($3500 off MSRP, 3.0 Premium in the white), but I couldn't change the cost of my taxes ($4900) or the accessories/extended care that I purchased ($1800) (which also affects my payment and LTV). I put $8900 down and got to the payment I wanted ($670).

Car buying has changed so much in just the last 5 years. All the information is there at your fingertips now and the shady reputation that us sales people have is finally starting to fade. However comparing your deal to your neighbors is not comparing apples to apples.

If you are happy and comfortable with your purchase/dealer, then you got a good deal.

 

[turbopk]

Pre-owned 20k miles $49K
Would you?

https://www.cargurus.com/Cars/l-Used-Toyota-Supra-Phoenix-d309_L1064#listing=298601713

 

[F1 Silver Arrows]

thank you! it was not easy but I am super proud of it and worked my ass off to get it, and work my ass off to keep it haha.

That's beastly man! I tip my hat to you. I guess you're not in post-secondary?

Hard work will never get ignored. You certainly deserve it. :>

Also for that 16 year old, that sounds like a badass gift! I just hope they don't take it for granted and truly take things into perspective as to what they have, but I'm like you too, I don't judge. If they're safe, responsible, and doesn't act like a spoiled douche like some people are nowadays as well then they should enjoy every last bit of that car!

 

[Xxyion]

Can always refinance if you plan on keeping the car long term. Get that APR down and payment down.
Honestly I'd be in the same situation if I were to trade in my DD right now, as I am still upside down on it even though my APR is 1.9% my previous trade in screwed me.

Yeah thats exactly the plan.

 

[Xxyion]

You're... 19? And you own a GR Supra? Dayum dude good for you.

we gonna ignore that he had an F-type? lol

 

[MX5Racer]

Have your Credit Union in your back pocket but always give the dealer the chance to beat that rate. It's worked well for me in the past. They have access to lots of banks, CU's and of course MFR financing.

My '21 had an MSRP over 57k, I paid 51 flat and that includes the $199 Doc Fee.

We got around 2% through Wells Fargo.

 

[FullmetalHeart]

2021 Premium 3.0 w/driver assist package
51,650 for the vehicle... MSRP was 57,000. OTD price was right at 55,000
took the 3.9% 72 month option for Toyota

 

[NitroYellowMKV]

That's beastly man! I tip my hat to you. I guess you're not in post-secondary?

Hard work will never get ignored. You certainly deserve it. :>

Also for that 16 year old, that sounds like a badass gift! I just hope they don't take it for granted and truly take things into perspective as to what they have, but I'm like you too, I don't judge. If they're safe, responsible, and doesn't act like a spoiled douche like some people are nowadays as well then they should enjoy every last bit of that car!

I am in university online, and run my business out of home, and yes he is def a great kid who appreciates it and is a true enthusiast.

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