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1989 Fleetwood Brougham d'Elegance|2018 Chevy Colorado Z71
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Discussion Starter #1
In light of recent events, I found out the transmission in my 99 Taurus is on its way out. With 155k on the car and a bottle of Lucas in the trans that seems to have smoothed things out, I've decided it would be a good time to trade the car for something certified like 2 or 3 years old, like a turned in lease car. I found a pretty nice 06 STS with less than 20k at a dealer near me who's got the car listed for $25,495. I'm pretty interested in trading my Taurus for this car and already checked with my insurance, turns out it won't be too bad to insure one of these. My question is what can I expect to pay monthly to finance one of these?
 

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The answer is, "it depends." Do you have good credit? How much is the Taurus worth as a trade? Will you pay additional money down? How long will the loan be (36, 48 months)?
 

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1989 Fleetwood Brougham d'Elegance|2018 Chevy Colorado Z71
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Discussion Starter #3
The answer is, "it depends." Do you have good credit? How much is the Taurus worth as a trade? Will you pay additional money down? How long will the loan be (36, 48 months)?
Well KBB.com said $1,100 trade-in value for my car. I would think I have good credit since I've had a credit card since I was 18 and always paid my bills on time. I also have no idea how long the loan would be for, I haven't spoken to anyone about the car yet.....
 

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None, Now an AUDI A4
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you may need a co signer for the car, and depending on your intrest rate, some rules of thumb are, about every $1000.00 financed is about $25.00 per month, therefore every 5 thousand is about a hundred a month, dependin on loan term and credit and such, but in general this formula isn't usually TOO far off.
 

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1989 Fleetwood Brougham d'Elegance|2018 Chevy Colorado Z71
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Discussion Starter #5
you may need a co signer for the car, and depending on your intrest rate, some rules of thumb are, about every $1000.00 financed is about $25.00 per month, therefore every 5 thousand is about a hundred a month, dependin on loan term and credit and such, but in general this formula isn't usually TOO far off.
Well I'd prolly need my dad to cosign with me on this one. Is that formula with a 36 or 48 month loan? Based on what you said it's like $500 a month.....
 

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None, Now an AUDI A4
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i don't remember if thats based on 48 or 60 months, but def not 36, and yeah about 500 sounds about right. cars ain't cheap!
 

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2018 Mazda 6 (Venus) 1964 Impala (Betty) 1991 Miata (Dolly)
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Dope, if you're not already a member of a credit union, you might want to check into one in your area where you would qualify for membership. Interest rates are generally lower than what a bank would charge. Plus, if you go the dealer with financing already approved, you may be able to negotiate better on price.

It may also help with negotiating on financing. When I bought my Seville in February, I went to the dealership with approved financing from my credit union. They asked if they could try to beat the interest rate I already had, and they did. Then, my original credit union reduced the interest rate on their loan offer. They also offered a near-bumper-to-bumper warranty that was $900 cheaper than what the dealer offered, plus it was for 45,000 miles vs. 36,000. So I ended up paying less in the long run.

Good luck; an STS would be a major upgrade over the Taurus. If that doesn't work out, you might look at a 2008+ Malibu; I know you really liked the Malibu you had before, and used examples of the current Malibu are under 20K.
 

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1989 Fleetwood Brougham d'Elegance|2018 Chevy Colorado Z71
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Discussion Starter #8
Dope, if you're not already a member of a credit union, you might want to check into one in your area where you would qualify for membership. Interest rates are generally lower than what a bank would charge. Plus, if you go the dealer with financing already approved, you may be able to negotiate better on price.

It may also help with negotiating on financing. When I bought my Seville in February, I went to the dealership with approved financing from my credit union. They asked if they could try to beat the interest rate I already had, and they did. Then, my original credit union reduced the interest rate on their loan offer. They also offered a near-bumper-to-bumper warranty that was $900 cheaper than what the dealer offered, plus it was for 45,000 miles vs. 36,000. So I ended up paying less in the long run.

Good luck; an STS would be a major upgrade over the Taurus. If that doesn't work out, you might look at a 2008+ Malibu; I know you really liked the Malibu you had before, and used examples of the current Malibu are under 20K.
I looked at the current gen Malibu and a few Buick LaCrosses which I also liked a lot, but the STS was my favorite. Really nice car and the best looking out of Cadillac's current car lineup next to the current CTS which I consider a little small for my tastes. I wanna drive an STS but that might just be teasing myself since I should wait until I change jobs.

Good news was the insurance on my Fleetwood and a 2006 STS V6 is like $1,750 a year which with my 8 month a year payment plan I have it comes to like $217 a month for both cars. The note seems like it's gonna be around $500 a month unless I can get them down to $20k. I hear the deals on domestic lease turn-ins are outrageous......

Here's a couple pics of the STS. Black leather interior and Black Raven paint. Hands down the most SINISTER paint color I've ever heard, my demonic insides are swelling......





:drool:
 

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1992 Town Car Cartier & 2014 Accord LX MTX
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Dope, if you haven't seen it yet, if you go onto that car's ad on Carsoup or Autotrader, there should be a payment calculator that'll allow you to adjust the interest rate, down payment, price of vehicle (if you negotiate), and see instantly what your payment will be.
 

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1989 Fleetwood Brougham d'Elegance|2018 Chevy Colorado Z71
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Discussion Starter #10
Dope, if you haven't seen it yet, if you go onto that car's ad on Carsoup or Autotrader, there should be a payment calculator that'll allow you to adjust the interest rate, down payment, price of vehicle (if you negotiate), and see instantly what your payment will be.
Intriguing....

I'm on Autotrader and I don't see it.....
 

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91 Allante (gone), 06 SRX (gone)
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Suggestions:

- Buy CPO. It's practically the same as a new car warranty.

- Consider a CPO LaCrosse CXS / Super or Lucerne CXS / Super. The Buick CPO program isn't quite as nice as Cadillac's, but the prices are very attractive.

- Consider a CPO Lincoln.
 

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1992 Town Car Cartier & 2014 Accord LX MTX
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2003 Cadillac Seville STS 73k Miles, '90 Chevy 1500 Reg Cab
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In terms of interest rates most places automotive loans are somewhat tied to the year of the car, the newer the car the lower the interest rate you're eligible for.....but thats before they run your info through their magic approval system. They're going to look at your credit history, debt to income ratio, monthly bills, and any assets to get an idea of how "finance worthy" they think you are....if you score well on their magic formula you will get a better rate, not so well the rate might not be as attractive, or they'll make you put down more in cash upfront.

When I was talking to the banks about my loan on my 03 this past fall one of them said they would require a co-signer on mine because I was under 25 and I told them I won't ever be doing business with them then. Yes I'm under 25, but have been on my own since halfway through school, have a good credit history, and was ready to put 30% down. That wasn't good enough for their "large bank rules" so I went elsewhere. Guess the point of that is be prepared for the run around when talking financing....the rates are fairly low but the banks are being stingy and tight fisted, so be prepared for some headaches.
 

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1992 STS / 2005 MB G500 / 2003 STS / 2006 XLR-V
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Dope, I hope you are running those insurance rates with Full coverage, which WILL be required if you are financing a vehicle. I pay roughly 3000.00 a year for three vehicles/two drivers. Two of those vehicles are full coverage and higher cost-bracket insurance classification... The Escalade and the Crossfire (which I still insure even though Jesda has it). I am in my mid 20s and have two tickets on there though.

If they were all liability only, it would probably about half of that.

Below is the Cars.com finance calculator which is the one I use... Based on a quick and dirty calculation of a 25000.00 loan with 3000.00 cash down at 48 months with 7.8% interest the monthly payment is 535.00.

http://www.cars.com/go/advice/financing/calc/loanCalc.jsp?mode=full
 

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1989 Fleetwood Brougham d'Elegance|2018 Chevy Colorado Z71
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Discussion Starter #16
Dope, I hope you are running those insurance rates with Full coverage, which WILL be required if you are financing a vehicle. I pay roughly 3000.00 a year for three vehicles/two drivers. Two of those vehicles are full coverage and higher cost-bracket insurance classification... The Escalade and the Crossfire (which I still insure even though Jesda has it). I am in my mid 20s and have two tickets on there though.

If they were all liability only, it would probably about half of that.

Below is the Cars.com finance calculator which is the one I use... Based on a quick and dirty calculation of a 25000.00 loan with 3000.00 cash down at 48 months with 7.8% interest the monthly payment is 535.00.

http://www.cars.com/go/advice/financing/calc/loanCalc.jsp?mode=full
Yeah that's with full coverage on the STS. My Fleetwood just has liability. I've come to the conclusion that I'm gonna have to wait until I get my bigboy job with my Communications degree before i can make this much exasperated leap. Should be a better deal since I'll get whatever my Taurus fetches as a trade-in plus some cash from graduation all as down payment on this CPO '06 STS. If this particular car is gone by then I'd still like to find another V6 STS AWD. My price range is somewhere in the $20k area and mileage is also in the 20k area. One thing I'm holding tight on is the black on black color combo......

:lildevil:
 

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1989 Fleetwood Brougham d'Elegance|2018 Chevy Colorado Z71
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Discussion Starter #17
Just did the loan calculator on cars.com and here's what I got.

Vehicle Price: $25,495 (List price, I can prolly get it to come down a few grand.)
Down Payment: $2,000 (Maybe in graduation money? We'll see.....)
Trade-In Value: $1,100 (What KBB rates my Taurus at.)
Sales Tax: 7%
Interest Rate: 7.83%
Term: 60 (I figured 5 years since I tend to hold onto a car for a while.)
Monthly Payment: $488.31 (Pretty close to the $500 I was expecting.)

It'll be $369.57 if I can get them down to $20k even on the car. Can I pull this off in my current situation? Probably, but I'd rather wait until I can do it comfortably......
 

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1992 STS / 2005 MB G500 / 2003 STS / 2006 XLR-V
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Just did the loan calculator on cars.com and here's what I got.

Vehicle Price: $25,495 (List price, I can prolly get it to come down a few grand.)
Down Payment: $2,000 (Maybe in graduation money? We'll see.....)
Trade-In Value: $1,100 (What KBB rates my Taurus at.)
Sales Tax: 7%
Interest Rate: 7.83%
Term: 60 (I figured 5 years since I tend to hold onto a car for a while.)
Monthly Payment: $488.31 (Pretty close to the $500 I was expecting.)

It'll be $369.57 if I can get them down to $20k even on the car. Can I pull this off in my current situation? Probably, but I'd rather wait until I can do it comfortably......
No worries. There are V6 '05 STSs out there already flirting with the -10K- mark in good condition. The market on those will only get BETTER the longer you wait. You should definitely be able to find a V6 for 20k, even an AWD by the time you're ready, if not less.
 

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1989 Fleetwood Brougham d'Elegance|2018 Chevy Colorado Z71
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Discussion Starter #19
Well everything about this car fits what I've really been wanting in my next car, I mean I picked this over the 2010 Camaro so you know it's gotta be a good fit.

1. The V6 will satisfy my fuel economy needs since I'll be using this car as a daily driver. However I hear even the V6 version of the STS still has more than enough oomph to pin your head to the seat.... :lildevil:

2. AWD is great because it really snows in North Jersey so I want that specifically as well. I'm sick of FWD.....

3. Remote start is something I've been dying for so I don't have to run outside half dressed in the morning to start my car in the cold/heat.....

4. The 2006 model year is the oldest you can get as a CPO which is what I really want because of the warranty. Infact I was even planning on extending the warranty for a few bucks extra Plus I'd like to keep the mileage close to 20-25k......

Finding this in the $20k range is what I'm hoping for unless if this particular one is still up for grabs. It also has to be black on black. Hahaha......
 

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1992 STS / 2005 MB G500 / 2003 STS / 2006 XLR-V
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Well everything about this car fits what I've really been wanting in my next car, I mean I picked this over the 2010 Camaro so you know it's gotta be a good fit.

1. The V6 will satisfy my fuel economy needs since I'll be using this car as a daily driver. However I hear even the V6 version of the STS still has more than enough oomph to pin your head to the seat.... :lildevil:

2. AWD is great because it really snows in North Jersey so I want that specifically as well. I'm sick of FWD.....

3. Remote start is something I've been dying for so I don't have to run outside half dressed in the morning to start my car in the cold/heat.....

4. The 2006 model year is the oldest you can get as a CPO which is what I really want because of the warranty. Infact I was even planning on extending the warranty for a few bucks extra Plus I'd like to keep the mileage close to 20-25k......

Finding this in the $20k range is what I'm hoping for unless if this particular one is still up for grabs. It also has to be black on black. Hahaha......
If you aren't too particular about anything OTHER than AWD (and black on black of course :D ) you should have no trouble locating a low mile CPO in the 20k range when you're ready to purchase. When you start adding the other packages like the Tech package etc. it becomes a LITTLE more difficult, but these aren't hard cars to find cheap with some looking.
 
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