Going over the numbers...

[dmitri]

But I found out from the dealer I put down a deposit at that it is non-refundable. Stupid me for not asking first...

I would check that paperwork to make sure that is indeed the case, i.e. that you actually signed a paper that says so about your deposit. It may well be the case -- but it might also be that they are lying (or are mistaken) about it. Just a thought.

Sponsored

 

[TheRealWizzy]

Update from Vern Eide: Total out the door price including tax and licensing was quoted at: $27,189.25

But I found out from the dealer I put down a deposit at that it is non-refundable. Stupid me for not asking first...

Regardless, noob question here: Is the sales tax pre-down payment or post-down payment? The dealer I have a deposit at stated $24,775 plus $99 doc fee. So would I pay taxes on that total amount? I plan to pay out of pocket for the tax and licensing, plus putting $5k down (plus the $500 deposit), giving me a total sale price of $19,375.

That deposit is supposed to be refundable, at least that is what my sales guy said to try and get me to put one down.

 

[ne0guri]

It's going to be so difficult for me because one of the dealers is getting a White, Black, and Grey Sedan by mid-June. I like all 3 of those colors so I'm going to have a hard time deciding... But I think White is the way to go for this model, looks so fierce.

Was quoted the actual MSRP of $24,775 (including destination) + Sales Tax + Documents = $27,388

I will try to get them to knock off the $500 document fee and get it down to $26,700 or so... I would be very happy with that price, as I am an impatient person and need everything right now!

 

[16civictouringboch]

Hello all. First time buying a new car and am trying to figure all the numbers out before I get in the negotiating ring. Anyone willing to take a look and see if I'm forgetting something?

I'll break it down for you here:

State: Nebraska (Sales Tax: 5.5%)
City: Lincoln (Sales Tax: 1.75%)

TAX AND LICENSING

MSRP: $23,900
Delivery: $875
Purchase Price (in theory): $24,775

Base Tax(based on NE #s): $340.00

Total Fees: $121.10
Motor Vehicle Fee(?): $20.00
Plate Fee: $3.30 (x2) = $6.60
Wheel Tax: $74
Registration Fee: $20.50
Emergency Medical System Fund: $0.50
Motor Vehicle Cash Fund: $2.00
State Recreation Road Fund: $1.50
County General Fund: $1.50

Nebraska Sales Tax: $1,362.62 (5.5% of purchase price)
Lincoln Sales Tax: $433.56 (1.75% of purchase price)

Total Sales Tax: $1,796.18

TOTAL FEES and TAXES: $2,257.29

TOTAL OUT THE DOOR: $27,032.29 ($24,775 + $2,257.29)

------------------------------------------------

Financing Scenarios

With Tax and Fees included in financing:

Finance Amount(?):$22,032.29 (after $5k down payment)

Percentage Rate: 1.9%(?)

Interest: $418.61

Total Price: $22,450.90

Per Month Amount:
(60) - $374.18
(66) - $340.17
(72) - $311.82


with Tax and Fees paid out-of-pocket:

Finance Amount(?):$19,775 (after $5k down payment)

Percentage Rate: 1.9%(?)

Interest: $375.73

Total Price: $20,150.73

Per Month Amount:
(60) - $335.85
(66) - $305.31
(72) - $279.87


Am I right? I'm probably a little bit crazy. I definitely feel like I'm forgetting something, like a dealer fee. If I buy the car in a different county, then I should be charged the different sales tax rate for that other county (1.5% instead of 1.75%), right?

EDIT: BIG thanks to @bhorn for showing me the light. Here are the updated figures:

Tax and Fees included in financing:
Finance Amount:$22,033 (after $5k down payment)
Total Interest:$1,081
Percentage: 1.9%(?)
Percentage per month: 0.158%

Per Month Amount:
(60) - $385
(72) - $324


Tax and Fees paid out-of-pocket:
Finance Amount:$19,775 (after $5k down payment)
Total Interest: $1,164
Percentage: 1.9%(?)
Percentage per month: 0.158%

Per Month Amount:
(60) - $346
(72) - $291

How is your total interest higher on a financed number that is $2.258 less?

 

[DrwMDvs]

How is your total interest higher on a financed number that is $2.258 less?

Nice catch! I've updated the post to reflect the following. I also added total interest for both 60 months and 72 months for both numbers.

Finance Amount: $22,033
Total Interest: $1,081 (60) or $1,297 (72)

Finance Amount: $19,775
Total Interest: $970 (60) or $1,164 (72)

Sponsored