Originally Posted by copescobra
called them and they report that it is sold. someone was able to get financing on that old a vehicle which surprised me. Especially at that high a price. Think it sold for the asking price.
Well if one has A+ credit (700+ score) there are a few lenders that will loan up to 135%+tax,lic,doc of Nada retail value and any after market protection one may decide to purchase such as warranty or gap coverage, so if this rig had a Nada retail value of $13,923 one with A+ credit could purchase this vehicle for $18,796 +tax+lic & doc fees+ any back end products which would very from state to state or county.
Now keep in mind that many of your local main stream banks may only finance this vehicle for 3 years because of the age regardless of the low miles but some credit unions offer longer financing.Below are a few examples.
Purchase price $18,796.00
my local tax rate 8.2% $1,541.27
Lic fee $135.00
doc fee $150.00
Total $20,622.27 OTD (out the door)
now financed at 3.99% for 3yrs= $609.77 payment
So if the salesman told you that this vehicle sold for the asking price the purchaser would have had to put $3,203 cash down! I only hope that he lied and that the purchaser had more sense