After reading all of you guys replies I think I'll go ahead and let the car lot salesman send my credit information to his bank on Wednesday and see what happens. Since everybody here says 12.9% pretty much sucks, I'll just have to pass if his bank can't do any better (or won't approve me at all). Capitol One (who gave me the 12.9% rate) wont let me finance it anyway because this particular car isn't at a franchise dealer, just a plain car lot. Despite having 48,000 miles and knowing the few problems it has that I mentioned, anybody else think $8,995 is too steep? (Hopefully a few hundred less after negotiating, but KBB lists it at $9,960, so we'll see...)

I can see you are using KBB pricing for "Private Party" (rather than "Dealer") and in "Fair" condition. That is good, as small-time dealerships simply don't deserve "Dealer" pricing, and the car does sound to be in "Fair" (at best) condition.

But bear in mind that KBB'* pricing is always about 25% to 40% higher than what you should pay for a used American car, depending on condition and mechanical issues.

My advice: don't waste alot of time with this outfit. Offer somewhere between $6k to $6.5k, and demand they get you 10% APR or less. If they won't do both, take a walk.

And watch out for "crap fees"...please pre-research what tag, title, tax will be for your state, and pay no more than $75 in assorted "dealer fees" on top of that.

I purchased my car with 45000 miles on it 2 years ago. At that time all was working on it. Since then I've had most of the known problems such as steering shaft, window regulators, LIM gasket, oil sender, front whell bearing, and brakes. My point is that all may be fine now but be prepared to budget for these "future" items which in my case came at around 60-70,000 miles. If you like the car and you get your price and financing, you'll never regret it......that'* one thing you can take to the bank!

Good luck!

I agree, your credit score of 652 is pretty good. At the time I bought my 2004 Chrysler, my credit score was less than that, closer to 600, but I still got a 6.09% interest rate, and that was without going through my credit union.

OK, one piece of advice these guys are missing.
TAKE IT TO A GM DEALER AND GET A PRE-BUY INSPECTION!
You're getting ready to spend several thousand on this thing, plus interest, with obvious issues, and no warranty, so go ahead and pay the extra $150 or so to find out if there is anything major that you missed.
I did three dealer pre-buys when I was shopping for my car, and I turned down a Camaro RS, and a Regal GS, because they both had a lot of little mechanical issues that I didn't know about, that would have cost me several thousand dollars rather quickly.


EDIT::: Oh, yeah, if the dealer won't let you take the car to have the inspection done, walk out. Most dealers are happy to have an inspection done, because by the time you decide to have the car inspected, you are sold on it.

You are too young to be thinking about a fancy car with all the bells and whistles.
You can't afford it. Wait until you are established before you purchase a high end vehicle.
Yes, the Bonneville SSEi is high end. Set your sights lower.
pay cash for what you can afford. Save up for your dream car. It'* the American way. Everybody these days wants to have it all right away, I don't get it.
I know I sound like an old dude, but to you I guess I am.
You had to ask if 12% was too high?