Purchasing GTI options - advice/opinions needed

[Point_Blank]

First post here, so greetings all! I currently have a 2012 GTI 4d w/ convenience and looking to get out of my terrible financing agreement while I'm still positive and get in a new GTI. I should be able to get around 3k out of it when trading in since I still owe 5k.

I have a few options I'm interested in and hoping for advice on which route to take and maybe some purchasing strategies. To give you an idea of my financial situation I'm looking to finance and don't want to pay more than $450/m or 30k with not the greatest credit. I'm located in SoCal. Please see my options below and advise.

1. 2016/17 GTI SE DSG w/ leather and LP in Reflex Silver. Kinda hard to find but may be seeing more 16's once their 3y lease is up. Under 35k miles.

2. 2018 GTI SE DSG w/ leather in Black or CSG. Wait a month or two for the 19's to come out to try and get a bigger discount. Not used to negotiating so may need pointers.

3. 2019 GTI Rabbit DSG in Cornflower Blue. In love with this color and the black accents but a little nervous about not getting discounts due to availability.

4. Keep the 2012 GTI and finish paying it off.

I do not plan to tune the car unless warranty is finished but I do want to lower the car an inch or two for a flush look. With options 1 and 2 I'd probably want new rims so have to factor that in as well.

Options important to me: Leather, Upgraded lights, Fender Audio, Sunroof, Performance Package, Warranty, A GOOD DEAL.

I'm sure I didn't include everything so just ask. Thanks for all the help!

 

[vj123]

To begin with, why are you planning to upgrade your vehicle and whats the terrible financial agreement on your current GTI. Can you wait until things gets better on your side.

If you really want to upgrade your drive, i would prefer option 2 based on your priorities. Option 3 is really tempting but you might not be able to find great deals similar to that of option 2. It might not worth the premium just for the visual upgrades in the Rabbit edition. If you take this route, never shop for payment, always negotiate on the purchase price.

 

[Point_Blank]

To begin with, why are you planning to upgrade your vehicle and whats the terrible financial agreement on your current GTI. Can you wait until things gets better on your side.

If you really want to upgrade your drive, i would prefer option 2 based on your priorities. Option 3 is really tempting but you might not be able to find great deals similar to that of option 2. It might not worth the premium just for the visual upgrades in the Rabbit edition. If you take this route, never shop for payment, always negotiate on the purchase price.

Yes, I read that in another post on this forum to negotiate price first. Forgot to mention one of my mine drives for this upgrade. My car is currently at 123k miles and needs the large service with new pads, tires, and who knows what else. Probably looking at around 2k in maintenance that I'm trying to avoid. It's hard for me to keep putting large amounts of money in a vehicle that is that high in milage. I've also never had a low milage/new car and finally in the position to afford one. My current APR on my GTI is 11% as first time buyer with bad credit. I still have 2.5 years left with $210 payments.

 

[vj123]

Yes, I read that in another post on this forum to negotiate price first. Forgot to mention one of my mine drives for this upgrade. My car is currently at 123k miles and needs the large service with new pads, tires, and who knows what else. Probably looking at around 2k in maintenance that I'm trying to avoid. It's hard for me to keep putting large amounts of money in a vehicle that is that high in milage. I've also never had a low milage/new car and finally in the position to afford one. My current APR on my GTI is 11% as first time buyer with bad credit. I still have 2.5 years left with $210 payments.

In that scenario, i would prefer switching for a different vehicle. This would be the way, not because of the $2k maintenance but to have a reliable vehicle until your build your credit history. Also the key thing would be to stick onto the new vehicle for a long time.

 

[Point_Blank]

In that scenario, i would prefer switching for a different vehicle. This would be the way, not because of the $2k maintenance but to have a reliable vehicle until your build your credit history. Also the key thing would be to stick onto the new vehicle for a long time.

Yes, definitely plan on keeping it for a while building it to my taste. I forgot to mention Fender Audio is also important. My current speakers cant go very high without sounding like crap. I'll update the original post. Bummed the 2018 SE doesn't have that included :/.

 

[Point_Blank]

Also, is it worth going after a car like this one if they'll drop it some? No leather seats but that's not a complete deal breaker. Seems like you can still get a brand new for almost the same price with dealer discounts and incentives.

https://www.cargurus.com/Cars/inven...=false&filtersModified=true#listing=214042981

 

[murph3699]

Yes, definitely plan on keeping it for a while building it to my taste. I forgot to mention Fender Audio is also important. My current speakers cant go very high without sounding like crap. I'll update the original post. Bummed the 2018 SE doesn't have that included :/.

Get the Helix installed as part of the deal if you get the SE. I negotiated into the deal when I bought mine. From what I've gathered its every bit as good as the Fender.

 

[vj123]

Also, is it worth going after a car like this one if they'll drop it some?

Have you check the vehicle history. There is a probability that this vehicle (current MY with low miles) was used as a dealer demo or a corporate lease vehicle.

 

[Point_Blank]

Have you check the vehicle history. There is a probability that this vehicle (current MY with low miles) was used as a dealer demo or a corporate lease vehicle.

I have not looked into it yet. Still need to learn a lot of the negotiating tactics.

 

[vj123]

There is plenty of info out here. All you need to do is to spend some time out here.

 

[Point_Blank]

There is plenty of info out here. All you need to do is to spend some time out here.

Workin on it! Been doing my research every day for a week and should have at least another month before making a final decision. Just hope nothing gets worse on my car till then.

 

[c72k]

Can you try to refinance your current loan? Has your credit gotten any better since the loan was issued?

If you can get a lower rate, do that at least while you're car shopping. Double up/pay more on your monthly payments (if you are able to) so that you'll have more money out of the car when you sell and apply as the down. That will hopefully bring down your payments, even if you have a bad interest rate.

 

[Jumpy]

There is no CSG for 2018. Instead, we have DIB (dark iron blue) which is even better IMO. It's basically CSG with a hint of blue.

 

[heiney9]

If your credit hasn't improved significantly, then expect to pay much higher rates. Maybe not 11% like currently, but much higher. Also, you're not going to have much equity in a high mileage car like that, especially for a trade.

If I read your first post right, you owe $5K and think you can get $3K in trade and also mention you're still positive? Those two don't add up, plus 36 months at $210 = $9K. Granted at 11% a lot of that final price is interest.

If your credit is bad to mediocre you'll have a hard time finding a decent rate and term if you are starting upside down on a 2017, 2018 or 2019.

Personally, I don't see the numbers working unless you have stellar credit and all you are really doing is rolling the deficiency of your current loan as well as the $2K in maintenance into a new and probably long term loan. Not a great financial choice.

Spend the minimal on keeping it on the road and double up payments or triple up payments and get it paid down so you're not upside down. That's the responsible thing to do.

just my .02c

 

[heiney9]

$30K @ 7% for 72mos = $511/mo. based on you saying you have little credit history and how high your current loan rate is. I don't know what rate you will qualify for, I just went towards the upper end.

72 months on a new car is common and while the rate is higher than 60 months isn't too bad.

72 months on a used car, if you can find it, is significantly higher than 60 months on a used car.

Buying a 2019 w/your current situation expecting it not to exceed $30K is a pipe dream.

You don't state if you are putting any money down, but I'll assume based on the current situation you aren't. Also, might be prudent to check insurance rates on a newer vehicle, that may go up enough to consider as well.