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Discussion Starter · #1 ·
I have been running around from dealer to dealer trying to make a deal on my 2005 GTO. I wish someone could help me. I would love to smartbuy the car but what they are asking for is almost crazy for where i live in westchester. This is so frustrating going from place to place and never getting a deal that i can work with. if there is someone from ny who did smartbuy i would love to here what you put down and what your monthly fee is. If you do not mind. So depressed :( :( :( :( :( :(
 

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I bought my 04 before they even had smartbuy, and I'm on Long Island. I have no idea, but if it makes you feel better, I'm supposed to pay $672 a month though I pay them at least $700 sometimes more anyway :rolleyes:

I have to go to my dealer very soon, so when I get there, I'll try to get some figures for a smartbuy for you.
 

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Discussion Starter · #5 ·
why is this car so exspensive in ny. I swear i cannot understand why this car is so darn exspesive in ny. I want to smartbuy the car, but i wanted a payment around 350-400, and these dealers want almost 8gs for that kind of monthly for 36 months. Is this happening in other places or is this a new york thing :willy: :willy: :willy: :willy: :willy: :willy:
 

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OK, here is the situation in NY. GM does not lease in NY anymore. GM does the smartbuy program in NY. Summed up, with smartbuy you buy the car and pay tax on the whole thing (say sticker of 33400) then with the program GMAC determines the trade in value of the car (56% for three years for my 04 with 12k, 54% with 15k a year). The trade in is your "residual". What you are doing is a balloon finance arrangement.

You pay down the loan for say 36 months and at the end of month 36 you either make a payment of the residual (18685 +- in my case) or turn the car in and get the trade in value from the dealer, and that money goes to GMAC to pay off your loan.

Where you are getting kicked in the crotch is the sales tax on the residual. I am in nassau, and the rate is 8.75%. I had to pay about $1600 in sales tax on the trade in/residual.

I bought two Oldsmobiles form Mack Markowitz Olds which is now Mack Pontiac Buick in Hicksville. When I was getting jerked around by GM customer service the owner of the dealership helped me out. His name is Marty Nix, and their number is 516 931-0900. Ask for Marty and tell him Tom R with the silver aurora sent you.

I bought my GTO from Arnold Buick Pontiac in Babylon. I did that deal over the phone (mack didnt have any GTOs left in December) and dealt with Bill Tuchler. Arnolds number is 631 661-7000. Tell Bill Tom R with the silver GTO and the insane PITA aunt (uncle bought a rendezvous from him in march) sent you.

One of the salesman from Arnold (joe i think) was advertising on the other board that he was selling GTOs for 500 over invoice a few weeks ago, thats befoer the 1000 hot button and gm card earnings.
 

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I usually don't jump into pricing discussions but since this is a deal for a fellow Westchester resident I'll put in my 2 cents.

I did a deal on an 04 in September of last year and got a Smartbuy for 36 months with a trade of a 99 Accord w/66k in OK shape. Zero down with the tax built in and all the rebates came to $190 a month.

Now before anyone says this deal is great or that deal sucked, the important thing is it is it was the deal I was looking for going into the negotiation. I paid a little more for the car than I wanted to overall but I got a great price on the trade in and a super finance rate. I'm also betting that my buyout at the end will be cheaper than the market value of the car.

If you haven't tried them already contact Frank Iarossi at Sholz Autogroup 914-949-4300 X217. Just remember none of these guys are in the business because a sense of public service.

I went by there this past Saturday and they had a Yellow 05 on the floor.
 

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zerosum said:
I'm also betting that my buyout at the end will be cheaper than the market value of the car.
I'm betting your buyout is either 56% or 54% of sticker. 56% is a tad under 18,700.

I'm betting you turn the car in because from what I heard GMAC doesnt negotiate the price, and I bet the market value is going to be a bit less than 18000.

Read your GMAC papers, the buyout or balloon payment is listed there. i think it is the white paper with green type.
 

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Discussion Starter · #9 ·
Well here is the deal from the dealer 7000 down so that is really like 6000 because i am using the incentive of 1000, and the smartbuy will last for 48 months, and it will cost me 400 dollars a month. I do not know whether to :party: or :( :(
 

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Tom said:
I'm betting your buyout is either 56% or 54% of sticker. 56% is a tad under 18,700.

I'm betting you turn the car in because from what I heard GMAC doesnt negotiate the price, and I bet the market value is going to be a bit less than 18000.

Read your GMAC papers, the buyout or balloon payment is listed there. i think it is the white paper with green type.
You're right about the ballon payment being around $18,700. What I am hoping is that market value, (What someone else will be willing to pay for the car in September 2007...) will be more than the final payment.

Occassionally, in a lease or balloon finance deal you can come out ahead by buying the car and reselling it for more money. Further offsetting the total cost of ownership. If it turns out the car is worth less than $18,700 then I'll probably just turn it in for something else.
 
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