bryman

Hey all,
Since I can't seem to find GTs in stock anywhere, I have been thinking about ordering. I have a few brick walls preventing me from ordering though, and hopefully some of you can give me a few ideas so I can figure out what do to.

The major things I am concerned with are trade-in value and financing. I need to get a decent trade-in on my current car, and in my mind I am almost assured of getting screwed over by the dealer if I order the car without negotiating trade-in value beforehand. My question is, can I get a firm trade-in value on my current car when my ordered car may take 2-3 months to get here? It would really stink to order a car, wait months for it, and get screwed on the trade-in value of my current car, just so the dealer can sell my ordered car for more to someone else.

Financing is also another area of concern. From what I have read on the board, some people have waited as little as a month, and as much as 4 months for their ordered cars. Since Ford does not offer decent financing on the Mustang, I would have to go to a bank. I think the typical rate lock-in period is 45 days, so I am not sure how I would be able to lock-in at a rate if it takes longer than this.

Any ideas or suggestions are greatly appreciated!

OSUstangfan

take your car to carmax for the best trade in value, or try to sell it yourself. As far as financing if you go over the 45 day time limit, you have to reapply at future rates.

lodom

Kelly Blue Book (kbb.com) or Edmunds.com both have reasonably accurate trade in values. Just don't get greedy on KBB, and assume you'll get excellent value, even if your car is in excellent condition. Trade in values should be fairly stable since we've already taken the first of the year depreciation hit on our trades.

Capital One's internet site will be pretty close on the current rates if you have good credit. I wouldn't worry about the financing yet unless you don't have great credit or a strong credit history. If you know you have good credit, I wouldn't have a report pulled by a lender until you closer to delivery. The reason I say this is, multiple Credit history pulls can hurt your score if done outside 30 days.

I wouldn't totally discount the dealer's financing department. They usually have other lenders outside Fordcredit that offer competitive lending rates.

DanTheMans22

I am in the same boat as you as far as the financing bit. I applied for an auto loan on lendingtree.com the day after I put in my order (November 15) and got locked in at 4.1% interest through Synergy Bank. Its now February and I still don't have the car nor do I have any idea of when I will, but all Synergy Bank requires me to do is to call them every 30 days to ask for an extension and I am able to keep the rate that they offered me. I'd check them and/or lendingtree out

freyke

Bank of America had 3.49% APR for 60 months last month... I know thier webpage has outragoues rates (8.9% APR) published; but, it you shop around and you have a good Beacon score they'll match or beat just about anyone... At least they did in my case.. Additionally I did not have an account with them before-hand - and the loan is the only account I have with them now...

MustangDan

Check out your local credit union, they often have the best rates and almost anyone can join.

KBONSIG

I'm in the same boat you're in - (with the same car to trade in too - RSX-S)
Here's what i'm going to do in the next few weeks -
1)Sit down with my local dealer that already said they will take my x-plan.
2)try to do better then x-plan
3)work out a deal so I can get the "Fan Blade" 06' rims at dealer cost when ava.
4)find out what my trade in value is for my Acura today
(Here is where you will have trouble - as they will say that you have to leave your RSX at the dealer NOW while you wait 5 months for your car) Remember - you hold the cards until you put down the deposit - must make a upfront contract with him on a fair number what the car will be worth at trade in. ( i'd think with in 1k)
5)Make sure he (the sales rep) knows that you expect a DORA and ETA on when your car will be in. ( i'd also ask how many 05's were sold so far at the dealership this year, get order detail from day ordered to day delivered, and how many orders are above yours).
5A) Make the deal if it feels right !!!
6)Put your RSX on the market - price it to sell. This car is a slam dunk to sell, a 17 year olds dream is a RSX-S.

Just my 2 cents. Remember these guys want the sale more then you want to buy - tell them what you expect throughout the whole process before you make the deal. Truse me - take it from sales rep himself (not cars).

Now if I could deside on Torch Red or Sonic Blue - I'd be ready !!!!

ponygt

The dealer you're using probably won't negotiate on your trade in until the mustang comes in. It will be hard for them to give a firm price several months in advance. Just remember, When you make an offer they accept, thats when you just got screwed. LOL