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Rebates, Incentives, APRs - Questions & Comments

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Comments

  • Jusdreamin, you're welcome. Ford's incentives vary quite a bit depending upon what model you are interested in. If you give me a list of models, I would be more than happy to give you an idea of what the incentives programs are like on them at this time.

    Car_Man
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  • Congratulations on the great deal that you got, enviroman. You certainly were in the market for a Chrysler minivan at the right time, DaimlerChrysler just increased the lease cash on its remaining 2001 minivans by as much as $2,000 in some instances! It certainly is a great time to get one. Enjoy your new van.

    Car_Man
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  • Thanks for getting back to me.

    Actually I'm looking at Mustangs. Either the base or the GT.
  • No problem, jusdreamin. In the vast majority of the country right now, Ford has $1,000 Consumer Cash or 2.9% special financing for 24 - 36 months, 4.9% for 48 months, and 5.9% for 60 months. In lieu of the $1,000 or lowest finance rates, consumers may select a combination of $750 consumer cash and 4.9% special financing for 24 - 36 months, 6.9% for 48 months, and 7.9% for 60 months on both the 2001 Mustang Base & GT.

    Car_Man
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  • I am currently searching for a new car based largely on price. Incentives, especially low financing are important. I have used the Edmund's site profusely! At a Dodge dealer I was told the low APR and Customer Cash could not be combined. The Edmund's site gave no restrictions for both incentives on the 2001 Durango. The Dodge web site said the info was being updated. How up to date are your incentive listings? Could this dealer be pocketing the customer cash by telling me the two can not be combined? Thanks for your input.
  • KCRamKCRam Mt. Arlington NJPosts: 3,516
    Usually DaimlerChrysler does not combine incentives listed separately (e.g. low financing OR $$ back), although occasionally they will offer a third alternative with a moderate finance rate and half the rebate combined.

    I'll pass your note on to the database people - they do respond to concerns like yours.

    kcram
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  • Mom2boyz, KC is correct. The Consumer Cash and special financing rates that are currently available on the 2001 Dodge Durango definitely can not be combined.

    Car_Man
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  • No problem.

    Car_Man
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  • I'm shopping for a Mazda Protege5. I was wondering what incentives are available on it and if the current APR special will be extended past October 1.
  • Hi Glennis. It is difficult to say exactly what a manufacturer will do with their future incentives programs with 100% certainty. From what I hear, the Protege 5 is selling pretty well so far. So if I had to guess, I would say that I don't expect any major revisions to the incentives on this car during the month of October. Remember though that this is nothing more than an educated guess. I certainly don't see Mazda reducing its support on this car any. If you aren't in a hurry to get a new vehicle, I definitely don't think that there is any harm in waiting until October to see for certain if Mazda makes any enhancements to its program.

    Car_Man
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  • I am purchasing a vehicle from Ford after having leased two Ford vehicles. I received a customer loyalty incentive before. The salesperson told me that I am not entitled to a customer loyalty incentive because I am buying my car instead of leasing. I believe this is incorrect. I would appreciate some clarification as many companies are now offering customer loyalty incentives to retain clients.
  • PAmanPAman Posts: 207
    My salute goes out to GM and Ford for their initiative to reduce interest rates to 0% for a 60 month loan on a 2001, and greatly reduced interest rates on a 2002. I hope this allows them to avoid having to lay off one single factory worker and help keep the economy afloat.

    For those of you not aware of the terms, the low interest rate is instead of taking the rebates that were in place. However, depending on the make and model, there are some rebates that can be taken with, or "stacked" with the zero percent financing. Some models are giving a loyalty rebate of $500 or $1000 if you buy or lease another car of the same make. GM is apparently still offering the Oldsmobile loyalty rebate on the purchase of an Oldsmobile, or another GM car or truck. There are also "conquest" rebates, meaning, for example, if you own a Ford and buy a GM product, you can get another rebate. The same is true if you own a GM product and buy a Ford.

    As of this date, (Sept. 21, 8:20 a.m., CST) Daimler-Chrysler hasn't responded to the GM and Ford offers, but it seems very likely that they will soon.

    The one thing I haven't heard GM or Ford offer is the chance to get out of a lease early without any penalties. GM was offering that earlier on SmartLease contracts, but it only applied to leases that ended up to March 2002. If GM offers that again on my lease that is up in June 2002, I will run, not walk, to my local dealer. And, by the way, my next car will be a purchase, NOT a lease.

    Anyone on this forum have any pull with GMAC to make that offer??

    Joe
  • PAmanPAman Posts: 207
    Some of you have voiced concerns that your dealer may not be disclosing all rebates, cash back or other incentives to you, the retail customer.

    That is easy to fix! Here's how you do it. When they slide that contract across the table, ask them if ALL rebates, funds, offers, cash back or SPIFs (Special Production Incentive Funds) from the manufacturer, the dealer's group or the lender returned or refundable to the dealer have been applied to the purchase price. After they smile and say yes, with the contract in front of you, write the following, IN INK on the contract:
    "Dealer states all special funds, rebates or offers have been disclosed to the retail customer and applied to the price. Dealer states that any rebates or refunds of any kind except the normal dealer holdback in effect at the time of purchase but not known or disclosed to the purchaser will be refunded to the purchaser." Then initial it and have the dealer do the same. If the manager has already signed it, have the manager initial it, even if you have to wait. If the dealer refuses, then you know they didn't disclose everything to you, regardless of their excuses.

    Why do this? Simple; your contract likely contains the language in one form or another stating the following, even if in ultra-fine print on the back, that the purchase agreement is the only binding agreement between the seller and purchaser, and the contract supercedes all offers ORALLY OR IN WRITING. That means that if the lender, manufacturer or dealer's group has a secret rebate that they didn't disclose to you, but you find about it later, they either have to refund it to you or the contract is null and void. If you find out on Tuesday that the manufacturer had a rebate in effect on the car you bought Saturday but the dealer lied or actually didn't know about it (NOT likely to happen) and therefore kept it, you can take the contract back to them and demand to receive the rebate, or return the car to them. Without that language on the contract, you are powerless to get the money.

    If you remember NOTHING else about this message, remember this: A written contract overides ANYTHING that the dealer promises you verbally. He can promise you anything in the closing room, but if it isn't listed on the paperwork and signed by both parties, it's as if he didn't say anything.

    Happy hunting!

    Joe
  • Avonne, the salesperson who you spoke with is incorrect. If you a current Ford Motor Credit lessee who purchases another Ford Product, you should be eligible for $500 Owner Loyalty Cash. Of course, this is less than the $1,000 that you would be eligible for if you were to lease a new Ford, but it's still something.

    Car_Man
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  • Avonne, the salesperson who you spoke with is incorrect. If you a current Ford Motor Credit lessee who purchases another Ford product, you should be eligible for $500 Owner Loyalty Cash. Of course, this is less than the $1,000 that you would be eligible for if you were to lease a new Ford, but it's still something.

    Car_Man
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  • Does anyone know what the requirements are for this? I'm in the market for an F150 and I'm going to the dealer this week. I asked what the min. Beacon/FICO score was to qualify and the salesperson told me it wasn't based on that. I work for myself so I'm used to having to provide more income info that the average bear, but does anyone know what they're basing the qualifying on?
  • Have you heard anything on low interest rates on the 2002 sonata? I hope it will be just a matter of time considering the G.M. deal and soft car sales the n
    next few monthes.
  • I'm looking at buying a 2001 f-150 for invoice minue 1500 plus 2.9% financing. Should I wait and see if for increases the rebate?
  • rroyce10rroyce10 Posts: 9,359
    ..... If they have a customer loyalty program that is going on .. You get that, plus any and all rebates that currently exist.

    Terry.
  • rroyce10rroyce10 Posts: 9,359
    ..... Instead of all the conversation and magnefying the contract --- Just pull up Ford .com and Ford will show all the existing programs --- then hit the print button, and take that to your dealer ...

    It's much easier than "He said , she said " ..

    Terry.
  • Hi bilbo27. I do not believe that Hyundai is offering any sort of special financing rates on the 2002 Sonata, yet. They do have interest rates of 0.9% for up to 36 months, 3.9% for 48 months, and 4.9% for 60 months on the 2001 version of this car though. They only incentive that I have heard about on the '02 Sonata is $1,000 Dealer Cash. Hyundai has consistently offered low financing rates on the majority of its models in the past, so if you are set on getting an '02 Sonata and don't mind waiting it is very likely that they will introduce low rates on it eventually.

    Car_Man
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  • PAmanPAman Posts: 207
    Terry,

    I've noticed two exceptions about rebates and incentives.
    1. Some manufacturers are S-L-O-W to update their web sites. Often news sites like autonews.com or thecarconnection.com have news about rebates before they are on the manufacturer's web site.
    2. Sometimes there are regional deals between the dealer and the manufacturer that are not posted ANYWHERE. Here's a couple of examples: Last year, I bought a new Chevy S-10 truck from an honest Chevy dealer. He told me about an additional $500 rebate from Chevy, and a $750 dealer cash offer that wasn't publicized. So, I got a $3,250 rebate when all the Chevy ads said the rebate on the S-10 was $2,000. My local Buick dealer has told me of two rebates on Regals that are not widely publicized that CAN be used with the zero percent financing GM is offering right now. One is a $500 loyalty rebate if I already own a Regal (I do) and a $500 "conquest" rebate if I own a non-GM product, which I also own. So, on a 2001 Regal, I can take the $2000 GM rebate, plus the other two $500 offers for a total of $3000, or $1000 plus the zero percent offer. On a 2002 Regal, I can take the zero percent and the $1000 in rebates, but the zero percent is not for as many months as it would be on a 2001 model.

    The bottom line is if you are fortunate enough to have an honest dealer, he/she will put all the rebates on the table to make the deal. But, if you are not sure, that is when the disclosure language I listed earlier would protect you.

    Joe
  • rroyce10rroyce10 Posts: 9,359
    ..... Good point.. alot of times I will check with Edmunds or Carpoint just to make sure that we are up to date -- a dealer can be 3/4 days behind, sometimes I find out what's going on with a TV commercial .. or the part I love is when a customer comes in and tells us .. ... l...o...l... especially on the regional programs.

    Terry
  • megs50megs50 Posts: 10
    For a while G.M was offering to buy out smart buys, does any one know if they are still doing that and if it is just theirs or any smart buy?
  • charko2charko2 Posts: 12
    Hi: I emailed this question but have not yet received a reply. In August I decided to order a New Bonnivelle 2002. Left a deposit of 1K, at that time the rebate was 5.9% for 60 months. GMAC is now offering 2.9 for 60 months if you take from dealers stock. I am thinking of canceling the order forfiting my 1K deposit, and then repurchasing the same car $27000. from the dealer.
    I figure I come out ahead or is my math off? Suggestions please.
  • Most incentives are for time of delivery, not when a car is ordered. If you haven't picked up the car and pick it up before the rate program ends, you will get the 2.9%.
  • charko2charko2 Posts: 12
    The problem is that the rebate says take from dealers stock & this car was custom ordered. So?
    Should I cancel the contract forfit the 1k deposit and then repurchase it from the dealer? it would be 2.9 vis 5.9 so I figure I still come out ahead or is my math flawed?
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