Helped my sister get an Accord last year. Nice ride but the payment of 400 a mo is wearing on her. I looked into it and she owes just under her payoff so she can get out of it for nothing. She wants payments for around 250/mo and I figured that to be around 15k total price. She has great credit, and the only options she wants is power and alloy wheels. The Ford man I am I am trying to get her in a fusion. Great quality and similar size to her Accord. What are my chances of getting her in this price range with the fusion?

 

youd prolly have to find the first year 06? with 50-75k on it to get it that cheap

 

Think for 18k I could get a new one? She only has 15k on her Accord, so talking her into a vehicle with 4x the mileage would be hard

 

yea but there just are a whole lot of used fusions out in the market b.c they have only been out a couple years....

but what do i know, im not really in the market for a car

 

the dealer here in town still has an 06 brand new on the lot......it has 300 miles.........the sticker is 25k pretty loaded, but they have it marked down to 19k and some change on the window.......i am trying to get my wife in it.....the 700 a month on the 07 expy plus gas is starting to kill us..........

 

i got my wifes 07 grand prix fully loaded with 24,xxx ill sell you for 15,500. I know its not a ford but she paid 27 for it a year ago.

 

My parents got a price on a fully loaded Fusion over the phone from our dealer of $22,000 OTD.

I'm sure you could find her one for your price range, if not new than used.

 

My wife's 03 Explorer just turned over 110,000 miles and she wants something better on gas. I am trying to get her to look at the Edge. It looks like the Fusion starts around $18,000 and the most that you will get a dealer to come off a car that cheap is about $2,000. With that said, I would say that if you could find a stripped down, no option, Fusion at a dealer that listed for $18,000, you might be able to get it for $16,000. Adding alloy wheels and power will probably also add other things as well and will push the price up considerably.

 

ugh its front wheel driven.

 

Thanks for your help fellas! I think 16-18 is still a help as it will lower her payment over a hundred a month and get her in a Ford Im going to call the salesman who set me up with my truck and see what he can offer me over the phone. I will let yall know if this works out

 

She really needs to do the math. It rarely makes sense to trade in a 1 year old vehicle. She wants to trade in an Accord with probably the best used value to a Fusion with medeocre at best resale value in a few years. Fusion SE with power stuff and alloy wheels is $18.5k. Add $800 for auto and you'll not touch that for $15k OTD with zero percent interest to get $250/mo. Going from an autlmatic 4-cyl Accord to an automatic 4-cyl Fusion also means 20% lower fuel economy, so she'll be paying more in gas to make up for some of the lower vehicle payment.

What interest rate does she have with her Accord? How many year loan? Maybe she can refinance it to a longer term and/or lower rate to save some money. I highly recommend not trading it in as the Accord will still be worth $12k when she pays it off vs. a $18k MSRP Fusion only worth $5k.

 

She purchased the Accord pretty loaded when she lived with my parents. She is now looking to move out and consolidating/minimizing bills where she can. Her interest rate on the Accord is somewhere around 6% I believe as it was her first new car. I mentioned refinancing but she is worried about the warranty running out in under 2 years and still paying on the car for another 5 years. The original note was for 410/mo for 60 months.

 

$250 x 60mos = $15,000.00

Don't forget, tax, license, and any other miscellaneous fees the bank/dealer may charge. And then there's interest too. A $250/mo budget REALLY buys you a $10,000 - $12,000 car. I sold cars for many years, and I am speaking from experience here.

 

The loan terms seem pretty good for what she got. Now, in order to get a $250 payment over 5 years @ 6% rate again, she'd need to finance about $13000, minus taxes, title and plate fees. So, 02Supercrew4x is right, you're looking at a $12k sales price that won't happen on a new midsized vehicle. To go up to $300/mo payment fiance $15.5k, still probably not gonna happen on a new mid-sizer.

Unless you get a Hyundai or Kia or get an extended warranty, you won't have a vehicle payment out of warranty. Even with a new Fusion, she'll be out of warranty for half of the loan term.

She's got one of the most reliable vehicles, gets the best fuel economy in its class, and best resale. She'd be much better off getting ride of cable/sat TV until her income rises by $50/mo she might be able to save by switching to a cheaper vehicle.

 

APT & 02supercrew
Thanks for the help guys, sliding her into the Ford family may have put blinders on my better judgement. I did the math for her and suggested she re-fi, since she really does love her car she thought that was a great idea. Dont worry I gave yall guys the creit She was going to speak with her local bank about interest rates, and other suggestions of places to check better rates for a auto loan?