Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Smart Shopper Credit Scores and Vehicle Financing
941 messages, Last post on Dec 04, 2009 at 4:07 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
|
|
|---|---|
|
Replying to: featherz (Sep 16, 2007 1:33 pm) By the way, I guess this is for everyone. How good of a rate is 5.75 % for four years? Thanks.
|
|
|
Replying to: master_ryu (Sep 17, 2007 9:52 am) Dealership wants to get paid. If they submit you to a regular lender,and you are approved,the contract is overnighted to the bank,and the dealer is paid electronically. 3 days tops. |
|
|
Replying to: joel0622 (Sep 17, 2007 8:19 am) Many thanks for your response. So basically, your dealership computes the reserves as a percentage of the Total Finance Charge Differential as follows... 1st. Compute the total lease charge based on the contract rate. 2nd. Compute the total lease charge based on the buy rate. 3rd. Subtract the amount in (2) from the amount in (1). 4th. Multiply the amount in (3) by 75% to determine the reserve payment. My gut tells me that this is the most common method. Once again; many thanks Joel. John
|
|
|
Replying to: delta737h (Sep 17, 2007 10:32 am) On a lease if the lease rate is 2% and we charge 3% then I take the difference in the payment X the term X 75% and that is what we get. For example if at 2% the lease payment is 350 for 36 and at 3% it is 365 for 36 I take the difference in payment of $15x365=$540x75%=$405 in dealer reserve.
|
|
|
Replying to: joel0622 (Sep 17, 2007 11:44 am) 0.00150 + 0% reserves 0.00165 + 1% reserves 0.00180 + 2% reserves etc. John |
|
|
|
|
Replying to: joel0622 (Sep 17, 2007 8:19 am) So if I'm basicly a cash buyer but I need to finance though the dealer to get the rebate I can pay the whole thing off after 91 days without screwing you over,right?
|
|
|
Replying to: oldfarmer50 (Sep 17, 2007 2:46 pm)
|
|
|
|
|
Replying to: joel0622 (Sep 17, 2007 2:49 pm) So it would do me no good to promise not to pay it off until you had made your money off the deal--you wouldn't trust me? Shame, I'd like to help the salesman and F&I make a fair profit and get a no games deal in return but it seems previous liars on both sides make that difficult. 
|
|
|
|
| Sorry. Shameless bump. How good of a rate is 5.75 % for 4 years? I know it's not particularly high, but is this a solid rate? | |
You are here:
Forums
Smart Shopper Credit Scores and Vehicle Financing
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
Browse by Board
Browse by Topic
Today's Chats
