T&T OFFICIAL New Vehicle Prices & Discussion Thread

[aidan]

N&M bring back the qd32 4x4 frontiers? heard this, can anyone confirm.

[Death-Row]

sigh, with the probs im getting for financing and insurance, maybe i should stay in the used car scene for a year again and just grab something new cash.

If i remember, i saw earlier in the thread, the navara 4x2 has smaller fender flares compared to the 4x4. Either its not that noticeable or i have not seen any as yet.

[Ted_v2]

That's a good idea. Insurance is close to 10 percent of the cost of a new vehicle. Then you gotta carry it to the firm to service. That's another set of money.
See how your finance Runs

[tmack]

Death-Row, currently Mc Enearney Motors have a great deal on their vehicles, with the all in one packages, however, if I can recall you're looking for primarily a diesel vehicle, and I believe those deals are only good on their consumer vehicles. Still something you can look into, speaking of which they've currently got the Ford Kuga (Escape) in stock, the rep told me $319,000.00 all in one package, and $299,000.00 for the car as is something to consider, it's a 1.6 turbo petrol engine outputting approximately 180 BHP.

[Death-Row]

Thanks for the info man. Yea, wanted a van since i have a small business, goods transport etc. Banks giving me a hard time since its only recently i started moving my cash flow through the bank. I can pay the loan with ease, just having a hard time proving that to them. The van would be for personal use also since i recently got rid of my s14 and i currently have no vehicle. I'll keep you guys updated. thanks again.

[tmack]

Thanks for the info man. Yea, wanted a van since i have a small business, goods transport etc. Banks giving me a hard time since its only recently i started moving my cash flow through the bank. I can pay the loan with ease, just having a hard time proving that to them. The van would be for personal use also since i recently got rid of my s14 and i currently have no vehicle. I'll keep you guys updated. thanks again.

Well in that case it's probably better to buy the van used, Maska and M Rampersad normally have vans that their customers trade in for newer models you can probably check them out!
Personally I find that banks are too silly in this day, there's excess liquidity in the market, most people aren't borrowing so the interest rates are low and they're (banks) have loads of loan sales going on, trying to get customers to borrow from them, to be putting customers through the 'grills' to see if they qualify for their loans is truly silly. It's one of the reasons why I like the Ansa loan terms, their interest rate isn't abnormally high and they don't have any legal fees which works out in your favour less things to pay for!

[nemesis]

If yuh paying taxes it should be easy to get proven to them.
Although the banks really need to be giving loans now, they are trying to keep it safe for themselves. Hence the reason for their attitude.

[Death-Row]

Im not in the vat game as yet but im looking into it. I was getting a deal on a ranger thats just over a year old, It had around 16k mileage and was in great condition. Went to the banks and they told me I should buy something brand new, they wont want to lend for something used. The deal is gone and now they got me jumping through hoops in the new vehicle market. With so many people i know making way less income than me, rolling around in brand new vehicles, maybe im missing something. Guess i gotta tighten my relationship with my bank. Thanks again for the help and info guys.

[Rory Phoulorie]

. . . With so many people i know making way less income than me, rolling around in brand new vehicles, maybe im missing something. . .

You must stop looking at what other people have and cherish whatever you have. Perhaps they may have bitten off more they can chew just to "keep up with the Joneses". Do you really want to put yourself into that position? Get what you can afford.

[Death-Row]

You took it the wrong way. Sorry if i worded it wrong. I can more than pay the loan for a vehicle. Heck, I can buy it cash if I save for a year longer. Just kinda funny how lthe bank does things. This is the first vehicle im looking to finance, so im new to this, all my prev. vehicles were bought cash, evo, silvia etc. Anyways, sorry for the post clutter. Thanks again for the info.

[sweeks]

Banks do that .... They basically tell you to hang your hat higher than you can reach ... And they'll do the rest ... More $$$ for them and better for the new car dealers.

[Renaldo25]

all very true comments. friend of mine also said banks bussing style to givr you loans for used cars...

[tmack]

all very true comments. friend of mine also said banks bussing style to givr you loans for used cars...

It's easier when you repossess a new vehicle than a used vehicle based on the 'value', the value of the used vehicle isn't high!.
For my part FCUK all banks, they survive on interest, and what the last financial meltdown in the states should have thought them is not to be greedy, yet they continue, and furthermore they require your blood and the blood of your newborn for a piece of paper without value that we call money.
What I observed when I cleared off my car loan was how 'easy' it was to live debt free, sadly though you can't buy a 'new vehicle' cash without having to do a 'shock and jive' to the various dealers to verify that the money is yours ( I understand the money laundering schemes etc. but not everyone has to abide by these rules!). So Death and others I'd just continue purchasing my vehicles cash, and take out low interest rates loans to 'build' my credit rating you know a credit card that is 100% secured, a $30,000.00 loan for 3 yrs etc.!

[dogichi]

This is the system we live in....live in debt, owe the banks, buy want you can't afford. Sorry, they not catching me this rounds. The only loan I taking from them is a mortgage, otherwise everything else....car, vacation, personal....my funds. If I can't afford it, I save some more, and afford it at a later date. This ain't a race or a competition....but then again Trinis like to show off.....so they don't mind owing and living in debt to "look" good

[Morpheus]

Me: I would like to withdraw some on my shares

CU rep: We normally advise against that. Are you sure you don't want a loan?

Me: No I don't want a loan.

CU rep: You do know this is going to affect your dividends next year right?

Me: Yes. I am fully aware.

CU rep: ..................

That's the way the system is yes.

[Death-Row]

Thanks again for the input fellaz. Every time i went to take out money for a car purchase, its a long story how I should take a loan instead. Im kinda old fashion also in terms of saving money at home in the past. Went to deposite an amount to cover the down payment for the new vehicle loan I wanted. I was then accused of money laundering. I guess my old fashion ways got me in this. The only reason I wanted the van was to help my business investment, not to ride the personal diesel wave.

Think it should help my rating if i start taking smaller loans?

[death365]

brand new saburu wrx sti 5-door 2013 model auto with padle shifters

$ 571,000.00 vat inclusive

[nemesis]

Saburu? Hybrid swede and jap?

yes Death row, it would help your credit rating. So would having credit cards. Can just take em and use for your normal everyday use, then pay off in full on time and you should be ok. Would help your rating for sure.

[Death-Row]

aside from the prices and reviews, great financial info for potential first time buyers

[tmack]

Thanks again for the input fellaz. Every time i went to take out money for a car purchase, its a long story how I should take a loan instead. Im kinda old fashion also in terms of saving money at home in the past. Went to deposite an amount to cover the down payment for the new vehicle loan I wanted. I was then accused of money laundering. I guess my old fashion ways got me in this. The only reason I wanted the van was to help my business investment, not to ride the personal diesel wave.

Think it should help my rating if i start taking smaller loans?

Yes D-Row, as I suggested above, there's a new facility now for business customers to get a business credit card, if you want to go that route, you can put some money on it, so it's 'fully secured' and they'll give it to you, max it out, pay off the debt in full or give yourself a maximum of three months to clear off the balance, make payments more than the minimum amount, so say for example the minimum amount is $150.00 then a payment of say $1,000.00 or $2,000.00 will show up well on the system, never miss your payments and pay always on the due date, not before, on the day, and your credit rating will soar, if you don't want to take a credit card, then a personal loan of say $30,000.00 is good as well, you can get those no hassle loans from Island Finance no legal fees and they allow you to clear it off say the next day without any penalties, I'd advise at least 1 year before fully repairing the loan as to not arouse suspicion etc.

[ek4ever]

Best thing is to put money into credit unions, build your relationship with them and take loans from them .. screw the banks, they could never match CUs for low interest rates especially for new vehicles

[DJ Q]

^Interest rates at credit unions is significantly higher than at the bank.
1.5% on reducing balance equals 18% annual interest
Whereas you'll get 8 or 9% annual interest at a bank.

[noshownogo]

8/9% on a new car loan still? Too high imo, it's easy money for the bank over a short period and should be half of what they offering atm

[2.0VW]

I stand to be corrected but isn't the 1.5% on the reducing balance from the CU calculated on a annual basis as 1.5% per year and not 1.5% per month ?

[DJ Q]

It's 1.5% on the reducing balance.
Every month, the balance reduces.

So yes, it's 1.5% per month.
There is a vehicle financing thread for more info.

[acesinghit]

some credit unions offer competitive vehicle financing rates:

eg.
5.5% interest on new vehicles with a 10%dp (up to 7yrs to pay back)
6.5% interest on used vehicles with a 20%dp (up to 5yrs to payback)

new Versa @ $149k = $14,900. dp
Loan Amount = $134,100.
Installment = $1927.02 for 7 years

This means anyone who earns at least $6,500. a month can comfortably purchase a $149k brand new car and have a worry free 5 years of efficient motoring. No wonder why these Indian made 2 airbag front power window only Versa's sell so well.

[DJ Q]

^What credit union is that?
The lowest interest rate I've heard of from a credit union is from CECU:
http://www.mycecu.com/images/stories/lo ... an2013.pdf

[acesinghit]

no reference made to a particular cu, it was just an example but are these rates unreasonable?

[DJ Q]

Those rates are very good, however, I've never seen that in a credit union.

9% is the absolute best I've ever seen.

The beauty of the credit union is that they will hold/use/need 10% shares instead of asking for a 10% downpayment on the loan itself.
So they actually give 100% financing.

[acesinghit]

9% is high? Maybe I have wrong info but Scotiabank new vehicle rate was 5.9% recently? Any bankers out there to confirm or give us current rates?