Hi all,

I'm thinking about getting a new Fit sometime in the near future. At first I searched for a used one but started reading about the new generation '09 models. It just seems superior in many aspects. Another thing that deterred me was how highly priced a lot of used Fits still seem to be (sometimes at "like new" prices), and with a used car loan of higher interest rate vs. a new car interest rate, the savings are just not there.

I don't have much car buying experience, this will be the first time I've purchased from a dealership. I'm looking at just getting the base model (maybe with future customizations), although the sport seems like it's worth it as well.

What I want to know is when would be the best time to get an '09? I currently don't have much for a down payment right now so I was considering waiting until the end of the 2009 summer when the '10s start arriving. However, I could consider buying at the very end of this year if the deals are generally better, especially now since dealers are hurting due to the economy. So at what time will the price be lowest, like below MSRP?

What is usually a fair interest rate for a 60 month loan? I have a credit rating between 600-650 atm. Should I wait longer to improve that rating to get a better rate or could I get something decent now, like 6-7% (in Texas btw)?

Is there any advantage to building the car online and having it shipped to a dealership? Will it mean that any negotiating or discounts are no longer applicable? Or is it even better than MSRP because it's invoice pricing+delivery?

Any other tips would be helpful, thanks a lot.

 

I just bought a fit for about 300 below retail which I hear is a real good deal right now. I would say that if you want much more off of that, it would probably be good to wait until the end of the model year like you were thinking about anyway. It seems like they are in too much demand to get one much cheaper. I would be interested in what others say.

 

Go when gas prices are low. Your chance of getting a discount or to make a deal with be less when gas prices are high and everyone's seeking out cars with better mpg's.

I would wait till your score improves as well. It's not a good time to borrow money if your credit isn't close to perfect. =\

 

Though 600-650 isn't perfect I dont think there would be a problem for him/her to get approved for a loan at the 7-8% range. Economy is really hitting hard for the mortgage loans plus the bailout is there to help people with ok-good credit to continue obtaining loans.