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Rebates, Incentives, APRs - Questions & Comments

4048 messages,  Last post on Feb 06, 2012 at 9:13 AM

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What is this discussion about? Car Financing

Messages Page 403 of 406

#4017 of 4048 Dealer says 'holdback not a guarantee' by kirama

Nov 01, 2010 (11:31 pm)

I contacted a local dealer who participates in truecar, but they never have prices listed, on the list of dealers it simply says 'contact this dealer for your price'..so, I did. And I asked him for his price. It came in almost 1k higher than the other two dealers listed on the site. I asked him to explain and he said 'here is how we calculate it' we deduct dealer incentives from the invoice price and add back $600. I showed him what the holdback was and he said 'we can't give you a discount based on that since holdbacks are not guaranteed' and he went into some elaborate explanation as to how they only get the holdback if they sell x # of cars in a given period. None of that makes sense to me. Is there any validity to what he is saying? It was clear from the pricing offered by the other two truecar dealers they were taking the holdback into account.

#4018 of 4048 Re: Dealer says 'holdback not a guarantee' [kirama] by dtownfb

Nov 10, 2010 (11:52 am)

Replying to: kirama (Nov 01, 2010 11:31 pm)
here's an article on the dealer holdback -
 
 http://www.edmunds.com/advice/incentives/holdback/index.html

#4019 of 4048 CURRENT CHEVY REBATES by duff333

Dec 18, 2010 (7:03 am)

I'm looking at a 2011 Silverado Reg Cab4x4 in Maryland. Edmunds shows a $2000 rebate + $2005 rebate if financed through Ally. I'm now also seeing a $1500 "Holiday" cash (just today) being advertised. Does anyone know if that is in additional to the $4005 in rebates already posted??
 
Any help would be appreciated.
 
Thanks

#4020 of 4048 Dealer mailed me rebate now wants it back by kirama

Jan 13, 2011 (9:31 am)

I bought a new car in November, and a few weeks ago received a check for a $1,000 rebate that I didn't expect to get, but I just figured that they realized that I was due a rebate and I cashed it. Just the other day I get a letter from the dealer asking for the $1,000 back stating that I didn't 'deserve' it because I had opted for low interest financing in lieu of the rebate. Do I legally have to return the $1,000? and if so- since I have already spent some of it, can I ask them to add it on to my auto loan?

#4021 of 4048 Re: Dealer mailed me rebate now wants it back [kirama] by kirstie_h HOST

Jan 13, 2011 (10:08 am)

Replying to: kirama (Jan 13, 2011 9:31 am)
It's difficult to give you an answer since you didn't say what make/model you bought, or what program you took advantage of.
 
Instead of wondering about your obligation, just politely ask the dealership to send you the paperwork from the original deal, documenting that it was EITHER the financing that you took OR the rebate. Some special finance rates offered do mean that you can't take the rebate too.

#4022 of 4048 Re: Dealer mailed me rebate now wants it back [kirstie_h] by kirama

Jan 13, 2011 (11:11 am)

Replying to: kirstie_h (Jan 13, 2011 10:08 am)
It was a Kia Sorento EX AWD, the check had a 'memo' that it was for a competitive bonus. In the letter I received from them they state: "recently I sent you a check for $1,000 with a memo that it was for the competitive bonus on your 2011 Kia. Well, you had already been given credit for that rebate on your contract (attached) Also, additionally offered during that period was either 1.90 apr or $1,000 in consumer cash you opted for the 1.90%. I feel very badly about this but I must respectfully request that you return the $1,000"
   Actually the 'competitive bonus' was $1,500 and had been applied to the purchase of the car, so when I got the check for $1,000 I had no idea that it referred to that rebate, and since it was not claimed to be 'consumer cash' (the low APR rebate) I assumed that it was an additional rebate that I had not been given credit for and I cashed the check.
  I'm not trying to rip them off, but it was their mistake..do I have any room for negotiation here? Either offering them a partial repayment, or asking them to add it on to the financing of the vehicle?

#4023 of 4048 Re: Dealer mailed me rebate now wants it back [kirama] by kirstie_h HOST

Jan 13, 2011 (11:35 am)

Replying to: kirama (Jan 13, 2011 11:11 am)
Someone goofed, but the check isn't rightfully yours. Send it back. The fact that you received a check and assumed that you should get that, in addition to the special financing, doesn't make it so.
 
Look at it the other way around - if you had negotiated a price of, say, $16,000 on a vehicle, and the sales contract said $16,000, then you accidentally wrote a check for $17,000, would you want the extra $1K back? Of course you would - it's not legally their $1K. Your mistake wouldn't entitle anyone to keep money that isn't theirs either.

#4024 of 4048 Re: Dealer mailed me rebate now wants it back [kirstie_h] by kirama

Jan 13, 2011 (11:46 am)

Replying to: kirstie_h (Jan 13, 2011 11:35 am)
thanks much for the response.

#4025 of 4048 RAV4 Rebate expires in January, delivery in late Feb? by ericc4

Jan 25, 2011 (9:52 pm)

Hello,
  I am close to making a purchase of a RAV4 but I really don't need it or want it delivered until late February. I see that a $750 rebate expires at the end of January. I see the following possibilities:
* the rebate is extended past January - maybe optimism on my part as I have seen no evidence this will happen but you never know. Is there a way I can find out for sure?
* I buy before the end of January and don't take delivery until February. In this case what kind of contract do I sign and how much do I put down?
* I just buy and take possession in January - I can live with this.
 
I live in Northern California.
 
thanks in advance,
Eric

#4026 of 4048 Re: RAV4 Rebate expires in January, delivery in late Feb? [ericc4] by lrguy44

Jan 26, 2011 (12:46 pm)

Replying to: ericc4 (Jan 25, 2011 9:52 pm)
Even the dealer will not know if the rebates will be extended until they are or are not. It is a manufacture's marketing tool. Whenever you sign the paperwork the contract starts so my advice is either gamble or buy now.

Messages Page 403 of 406

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