Why the car that was listed for $7,200 (Mazda Protege LX) ended up to $9,100?

Question

The dealer said that the plate number costs + additional cost + emission testing + safety testing..Is this true ? When I was approved on their financing; it was $2,300 down and 300.00 a month for 3 years or 36 months. Interest rate is %9.25. Is correct..Help !!!!

Its a 2002 Mazda

http://www.trader.ca/powerpage/details.aspx?vlotid=1612938&adid=5543336

this is the dealership.

Listed Price: 7,200.00
Title transfer,
18 months warranty,
Plate number fees: All I know that it went up to $9,000.00

Then I just had a call from them and asking me for a $2,300 downpayment and $300.00 a month for 36 months (3yrs). Thats for 9.25% interest.

When I calculated everything, it came up to almost $12,800 total. I mean should this be a red flag ?

Answer 1

Base rate doesn't include tax, title and license, which adds to your total cost.

You should be able to do better than almost 10% interest though, unless you have poor credit.

Answer 2

if you look at the numbers ,over the three yrs you will have paid 11200 dollars,you should ask them for a breakdown of the extra costs as they may have done work to meet safety and smog regs

Answer 3

9.25 is high but you have tax title fee and lic plates smog fee and prep fee all are fee due when you buy a car from a dealer

Answer 4

See if you can give us the breakdown. $1900 is way too much for tax, title, etc.

Answer 5

dude, bottom line is what counts...