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Jan 28, 2011 (1:06 pm)
I've been told that I don't qualify for a manufacturer's advertised finance rates because my prior car loan was for a smaller amount (approx. 25k v. 40k for new one). Does this sound legitimate, or more like a dealer trying to make more on my loan? I'm looking at 4.4% for 72 months with a couple grand down, so I don't think I'm getting a bad rate, just not the best rate.
Any thoughts are appreciated.
#4028 of 4048 Re: financing question [boltsdynasty]
Jan 29, 2011 (6:45 am)
Finance institutions are more picky than they used to be so I suppose it is possible, but IMO it sounds like BS. I bought a '99 for ~22K + TTL and in Dec '09 bought a '10 for ~$33K + TTL .. a 50% increase in sale price .. and in both cases I qualified for the best manufacturer finance rate available.
There may be contributing factors to you not getting the best rate, including these possibilities:
- A small down payment; a "couple grand" down on a $40K car is only a 5% down payment. Ask if you increase the DP if they can get you the better rate.
- How's your credit rating? Are you in whatever group the manufacturer considers to be "top tier"?
- Is there anything on your credit score that might stand out? That includes high debt-to-credit ratio, short time at current employer, one or more late payments, etc. Are you upside down on your home mortgage?
I'm sure there are other possibilities.
That said, it wouldn't hurt to ask your bank or local credit union what finance options they can offer.
Jan 29, 2011 (8:32 am)
4.2% on a 72 month loan looks pretty good...
As noted, you won't know if you don't check your local bank or credit union..
#4030 of 4048 Dodge manufacturer to dealer incentives...verify?
Feb 21, 2011 (11:42 pm)
On the page: http://www.edmunds.com/dodge/car-incentives.html , it shows for the 2010 Charger a "manufacturer to dealer incentive: up to $4500".
I'm in the metropolitan Phoenix area. Is there any way to verify what level of manufacturer to dealer incentive is applicable at this time? (President's Day Weekend, 2/21/2011).
The reason that I ask is that I went in to a dealership, armed with my TMV values but also this extra "up to $4500" value. I made an offer on a Charger and the counter offer was a bit more than $4500 apart. So either they laughed me off as a screwball/lowball person OR they are greedy (or perhaps the truth lies somewhere in between).
I'm not sure how to verify this "manufacturer to dealer incentive: up to $4500", but that's my goal. Can anyone help?
* SirSpamalot *
#4031 of 4048 Re: Dodge manufacturer to dealer incentives...verify? [sirspamalot]
Feb 22, 2011 (5:48 pm)
Based on your link, I up to 3k on a 2010 Charger.
It is after the 21st today.
#4032 of 4048 Re: Dodge manufacturer to dealer incentives...verify? [explorerx4]
Feb 23, 2011 (1:49 am)
Hi explorerx4...you must be reading something else because I do NOT see that at all.
Anyone else? Still trying to verify what the actual manufacturer to dealer rebate would be for a 2010 Dodge Charger in the Phoenix area ("up to $4500") as of 2/22/2011.
* SirSpamalot *
#4033 of 4048 Re: Dodge manufacturer to dealer incentives...verify? [sirspamalot]
Feb 23, 2011 (4:49 am)
I'm also seeing $3k, but it may have to do with region.
Since it says "up to" it very well could be one of those volume-based incentives. So the dealership has to sell x number of chargers before getting the max incentive.
#4034 of 4048 Re: Dodge manufacturer to dealer incentives...verify? [qbrozen]
Feb 25, 2011 (8:36 am)
I contacted a different dealer in the Phoenix metropolitan area and he said "no manufacturer to dealer incentives". But of course, he has no incentive to tell me about it.
* SirSpamalot *
#4035 of 4048 Applying rebate after price negotiated
Mar 20, 2011 (2:42 pm)
I made a deal on a new car for a purchase price of $18,495 minus my trade in for $8500, leaving a balance of $9995 to be paid. During the negotiations, no mention was ever made by either me nor salesman of the $500 rebate that was currently available. Since the rebate is a factory to customer incentive, (assuming I qualify for it), I am entitled to that rebate, essentially bringing my net cost down to $9495?
#4036 of 4048 Re: Applying rebate after price negotiated [annie10359]
Mar 21, 2011 (8:28 am)
Does the paperwork reflect the rebate in any way? If not, then bring it to the dealer's attention. Typically to get the rebate applied to the purchase price, you have to sign a document directing the manufacturer to pay it to the dealer.