Rebates, Incentives, APRs - Questions & Comments

raleighblazer2

Thank you for the explanation.

This sounds like something that could be useful to me because it is the model I am looking at buying before July 5.

Does anyone have one of these "Certificate Extraordinaires" which I could work something out to get from you before the 5th?

I am actually currently shopping for a new Avalanche and could use one, especially if it can be combined with 0% financing.

Thank you,

Tom

mantrasia

i agree with norstr above....the new promo isnt as good a deal as before

cccompson

Sorry, Tom, it says right on it that they can only be used by members of the same household.

While we do have the space, I don't believe you'll want to move here....

ericarosalie

So I bought a new car last Tuesday. I get a call yesterday that says we need you to drive 200 miles and bring the car because we gave you 0% and can't get it. I got the Pontiac G6 convertible, this car is not included in the 0% incentive. So I have to drive all this way to return the car and see about signing new contract (presumably with a way higher interest rate). In the contract it clearly states, if the financing terms cannot be reached the contract is null and void. I guess my question is.... What would be my best strategy as to getting a good deal or what I can do to make them work with me? I do like the car but am not willing to have a high payment. Should I just tell them to give me my old car back and take my business somewhere else? What are my rights?

steine13

They screwed up.
They don't want the car back, now with 500 or even 1,000 extra miles.

You didn't do anything wrong, but you have to either give the car back or sign a new contract with "realistic" financing. Just figure out what a cut-rate interest rate is right now and then see what it does to the bottom line... you have some bargaining power because, as I said, the car is now somewhat tarnished, and they probably don't want it back... of course, they might make it into a demo, or these are so hard to come by still that they don't care... you'll find out soon enough.

Establish a target figure -- here I assume you can use an online calculator and figure out what different interest rates do to your payments, and how the payment goes down if $$ are shaved off the car's price. Then see if they'll work with you.

My educated guess is that for $30,000, six percent interest (market rate) times six (?) years is approximately $1,800 x 3 is $5,400 total interest; maybe nearer $5,800 with compounding... this is just back of the envelope with no envelope... my guess is this won't happen, there isn't that kind of money avaible from dealer profit.

These guys sound like serious ding-dongs, though.
Good luck,
-Mathias

ericarosalie

I think I am going to go first thing in the morning and see about getting my own financing. I will add up what i will pay and give them that plain and simple. Otherwise i will just get my car back and go find something else where I get a good deal. Oh believe me I know they are big time DING DONGS!!!

british_rover

The one time we did something like this, took the rebate and the special interest rate on a left over LR3, we stood by our original deal and bought down the interest rate to the 3.9% rate.

They can't really buy the rate down to 0% but maybe they can buy it down somewhat. If you belong to any credit unions you might be able to get a slightly better rate. If you dont belong to a credit union I would join one now. Most will let you for a desposit of just a few hundred dollars.

wlbrown9

I wonder if they still have your car? If they were putting your trade on their used lot, perhaps. If they were wholesaling it out, it may be gone. If that is the case, then you may (or may not) have some serious leverage. How was the deal written up with your trade? Realistic price for it or did they do some magic with the numbers to make things 'work'? Things could get interesting. Thinking even more, did you still have a balance on the old loan that they were going to pay off? Have they paid that yet? If so, even if they have your trade to return, what about the old loan? Lots of questions.

Good luck,
Bill

markcincinnati

Is the deal for a new "qualified vehicle" thus:

Sticker + sales tax divided by 72 = mo pay?

or

Negotiated price (presumably below sticker) + sales tax divided by 72 = mo pay?

The newspaper ads seem to assume you will pay sticker. The web site does not seem all that helpful.

Chryco, on the other hand, seems to be willing to give you the employee discount and possibly some financing incentives plus a 30 day try it you'll like it.

Let me give a real example for a qualified Chevy product -- all I am seeking is some kind of ballpark:

MSRP ~ $35K

What will be the probable selling price?

$35K? Or. . . .

Less?, and typcially how much less (I have not bought an American car for almost 30 years -- I have no clue what MSRP means since it always seems to be manipulated and convoluted.)

Thanks for your help.

:shades:

qbrozen

you definitely don't have to pay sticker.

So yes, negotiated price + tax + fees. Then divide it all by 72.

Only question I haven't looked to answer is whether you need to put a down payment on the vehicle. I seem to recall many financing deals insist on like 10% down or something like that.

british_rover

Yeah they don't mention in the commercials if it is a 0/0 type deal with no down payment required. I bet there is some minimium downpayment required.

nortsr1

Also, that 0% financing usually reqires a VERY GOOD credit score.

wlbrown9

See dealer for details...that way they get you in and try to close.
The GMC page is interesting...it shows $13.99 per $1000 financed, example based on 16% down. Disclaimer that not all will qualify.

My calculator show more like $13.89 ($1000/72).

cccompson

While I can't speak to this current offer, I bought an Avalanche several years ago on a 60 month zero percent interest offering and put nothing done. Although I was not upside down on my trade, they were willing to loan $7000 more than the purchase price! I was stupid not to have taken that free money.

ericarosalie

I called this morning and they still have my car. I confirmed that the reason I did not get the 0% was their mistake being Pontiac does not offer this percentage on that particular car. I was upside down in my trade inm they actually rolled over 1000 into the supposed new loan. I think my final decision is to go in and tell them give me the same deal, the same payment or take your car back. I am thinking about getting the new Mitsubishi Eclipse.

vegasresident

Agreed. The week before the incentive started I was offered the $18,935 PT Druiser Touring for $15,758.

As soon as the incentive started the lowest I could get from the dealer was $16,728.

The dealer said, which I confirmed with Chrysler that is was not true, that they could not combine any local incentives or discounts with this big facotry incentive that was the "LOWEST PRICE EVER".

Basically the Employee Pricing Plus for the PT Cruiser is a a rip and will end up costing you more than if you had bought the week before with the incentives that nortsr1 gave.

This is obvious because our big Chrysler Dealer here in Vegas has only moved 1PT Crusier Touring since the incentive started last weekend.

mantrasia

yep, its a big shell game

nortsr1

I wrote to the new Chrysler website..."Ask Dr.Z" and explained almost what you had previously posted and the answer I received was that the dealerships (some of them) do not have to enter into these factory programs. Of course, they don't tell you that none of them are allowed to then still receive the $1500.00 rebate and $500.00 mfg. to dealer incentive!!! You ar right, it is a shell game. I also told them they advertise "up to 2500.00" in rebates. The fine print is for $500.00 for the PT. I also added that they should check their sales for the PT since they put the Employee pricing in effect. Like you said, the dealership has sold a grand total of ONE PT!!
My last sentence was that they have lost a prospective PT Limited sale until they reinstitute the old program.(I personally don't think they really care...but... I felt good telling them, anyway.
I doubt if Dr.Z will answer me.

mantrasia

if you're still thinking about a PT, might wanna check this dealship

http://www.davesmithmotors.com/

apparently, they're the biggest volume dodge/chrysler/jeep dealship in the nation, and they are known to offer the lowest prices with little haggle, since they want to keep their #1 volume title. might be worth a shot....or otherwise might be best to hold off until august and see if they get realistic with their promos

bildit00

Car_man,

I was successful in getting the 3.9% for 72 months extended through tomorrow due to the difficulties securing the car the dealer and I were originally negotiating on in Dallas!! My question for you is this: Is GM still offering the $1,500 trade-in allowance and if yes, can you get it AND the 3.9% financing? THANKS!

bildit00

Car_man,

Let me reword my question... Assuming it were before July 5th, is the dealer allowed to combine the following incentives? If not all of them, which ones could have been combined?

3.9% for 72 months
$2000 for a tahoe invoice prior to 3/31
$1000 for cloth interior
$1500 for trading in a GM vehivle newer than 1999

Thanks for your help!

nortsr1

mantrasia:
Thanks for the link, however; I already have a great offer from a local dealer (35 miles away) that will sell me the PT for invoice less the rebate and mfg. to dealer incentive (which comes out to $2000.00 below invoice....IF...Chysler decides to reinstitute the BETTER incentive plan (after this month long promotion ends). I am holding out...as the months progress, and the inventory stays high, they will have to come up with some type of GOOD rebates or INCENTIVES to reduce the 2006's.

vegasresident

I am with you on that one notsr1.

Here in Vegas we have 5 Chrysler dealers in town. They have 90 PT Cruisers out there and of those there are 47 Touring models.

The biggest of these 5 dealership has 47 PTs on their lot of which 26 are the Touring version. One week into the giant incentive and they have sold ONE (last weekend)!

From the total inventory it does not look like they are crashing down the doors buying the cars.

I am like you. After this month passes and as they get closer to September they are going to have to get the cars off the lot.

Then if you can get a factory to consumer $2000, plus negotiate off some of their profit created by the holdback and invoice to MSRP difference, you should be able to do alot better than what this miserable Employee Pricing with $500 rebate gives.

nortsr1

vegasresident:
Amen to your post, however; I usually only try for INVOICE price less any rebates and incentives. If they try and add a big additional "dealer fee" such as $499.00 which is way to common down here in the Sunshine State of Florida I will usually get up and start walking out and then the dealer fee is either completely eliminated or reduced to $199.00.
I am also checking (daily) the inventories of the two dealers (one or the other will get my business) and they sure haven't gone down so far this month.
I will keep this forum posted after the July 31st Employee Pricing deadline.

vegasresident

Yah:

I usually try to figure dealer cost (invoice-holdback-marketing assistance-floorplan assistance). If I can do that I usually give a 3% profit on that (it usually brings it in below invoice before incentives, etc) and then also take all the rebates and incentives.

I will walk also if I cannot get the fee fairly low since here in Vegas they do not even take care of your tags and registration. You have to go do that yourself.

the best deal I was getting prior to the EP incentive for a $18,935 PT Cruiser Touring was $15,758 plus fees, tax and title. That would have been $2049 below invoice. That still left some more wiggle room from the profit and holdback, which the dealer showed me was $549 for this model.

Unfortunately we were in the middle of negotiating when the stupid EP came out and it trashed the whole deal because the rebate amount crashed out.

Our dealer has now sold a total of 2 PT Cruiers in 2 weeks out of their inventory of 47.

badgerfan

We just closed (before July 1) on a Grand Caravan SE that, with options listed out at MSRP of $26640. Dealer was really hungry at the end of June, and offered employee pricing plus rebates. Rebates were $4000 plus I qualified for a $750 additional for already owning a Caravan. Dealer even showed me printout which listed employee price. Seemed to be no strings except for a $99 "processing fee". I ended up paying $19555, over $7K off MSRP, not including sales tax, title and plate transfer fee. The title and plate transfer fee are standard set by state and were about $65, so there was no additional gouging there.

After July 1, I see the standard rebate is $2500 plus "employee pricing" and I do not know if they still have the $750 current owner rebate. Unless Chrysler is kicking in more dealer incentives, it looks like my deal was significantly better than I might be able to get now.

Dealer was very up front about what was coming in July, as they told me then that the new "Employee Pricing" was "Smoke and Mirrors", and I believe they were correct.

nortsr1

You received a GREAT DEAL and your dealer was right...this new plan is "Smoke and Mirrors". Congrats on a great purchase.

texastightwad

What are your thoughts on the latest Saturn promotion? I am in the market for a VUE. I can afford to buy one now, however I don't need one until next year when I plan to give my current car to my 16 year old. I missed out on the 0% because we were out of town. I would have certainly jumped at that had I the chance, since interest rates have increased so much and GM appears to be changing directions. Is this typical of Saturn's promotions? I understand that they don't put much of a mark up on their vehicles. Do you anticipate any changes in the incentive mentality of Detroit in the next year?

Thanks for making this such an interesting site.

Texas Tightwad

oakridge067

I am interested in a 2006 GMC Envoy 4WD and have a question about GMAC Smartbuy.

I understand the basics of the program, but what seems unclear is what current incentives apply to Smartbuy.

GM's website lists the current incentives as $3500 "total cash allowance."

Would that apply to a Smartbuy deal or not?

Thanks in advance for any help you can provide.

fsufan

I can't find any reliable information on Passat incentives this month. I know there's manufacturer to dealer cash out there because dealers are selling them below invoice on the 2.0T model and well below invoice on the 3.6. The only incentives I can find listed are special interest rates: 0% for 36 months, 2.9% for 48 months & 3.9% for 60 months. If there is manufacturer to dealer money, how much is it for each model and can it be combined with the special interest rates?
Thanks

texan4

I am looking to buy an '06 4runner, and want to take advantage of the end of year incentives, but can't find anything on the web about when, or how much the incentives will be. I want an SR5 or Sport with leather, flexible on color, and want to buy in August. I am in Houston. Also - what would be a good final price. Any input/advice would be great.

interest

Does anyone know if Nissan will go to 0% interest rate after July 31st, 2006? Currently, they are offering 2% on 12-36 months; 3% on 48-60 months.
Any insight would be greatly appreciated!

zapdaddy

I would also be very interested in the upcoming Nissan rates for August 2006 as I am looking at a Frontier or Xterra. 0% would be grrrrrrrrreeeeaaattt! Any help out there?

marks15

Should I figure "In your driveway" same as rebates and GM credit card credits, being after price quoted?

Mark

steine13

The "in the driveway" program gives you "GM Supplier" pricing -- not GMS, which is employee pricing and 4% or so better -- and the GM Card credits are in addition to that.

Ditto the other available rebates.

Usually makes for a rather good price.

-Mathias

slyderla

I am considering a 06 RAV4 that was quoted $500 over invoice. The vehicle in questions would be a dealer trade. My questions is does the dealer selling me the car still have the holdback available to him, therefore giving me the ability to use that $ for negotiation? Also, for what it's worth, this will be the 4th car we have purchased from this dealership in 3 years.

Any help would be great.

cccompson

I can only speak generally here (and you might want to post this on a Toyota thread also) because I'm going through the same thing with a Ford store that's trying to locate a Mustang with a particular color/equipment combination.

There are other factors besides holdback at play that effect determine the price - what does the second dealer have to give up (trade) or pay to get the vehicle you want. In my case, the discount I'm being offered varies with the vehicle as some dealers want more than others from the store I'm working with.

Without checking the RAV4 prices paid thread, your quoted price sounds pretty good (although the market may have changed since I last looked).

british_rover

Hmhh you are getting a 500 dollar over invoice price, which is basicly a break even for the dealership after they pay the salesman, sales manager wash and gas the car, on a recently redesigned model that they are going to have to truck in.

Depending on how the bring the vehicle in, we flat bed all of ours and depending on the distance that can cost a lot, and what the other dealership wants this is probably a loser deal below invoice.

And you still want more???

500 bucks over invoice is a good price try and get yourself some free oil changes or tires or something and call it a day.

oakridge067

Can anyone please help me with this?

What are the incentives available through GMAC for the SmartBuy program on a 2006 GMC Envoy 4WD SLE (3SB)?

The MSRP is $31,185.00 and the GM Supplier price is $29,493.57.

I can't seem to find any information about SmartBuy incentives anywhere.

Any help is appreciated.

nortsr1

The S/e region shows a $3500.00 rebate.

oakridge067

Whoops, looks like I forgot to post my location.

I'm in Central Ohio.

Sorry about that.

nortsr1

$3500.00 in your region, also.

big10fan

GM's rebates expire on 9/5 and was wondering if anyone can remember what has happened in past years when september comes around, will they bump the cash rebates up or do they just keep them the same?

jeteast

Here in Oklahoma, Factory to Customer rebate is $2,000 + $500.00 Bonus Cash. Does anyone know what kind of support GM is offering Dealers at this time of year for 06 Impala's.
All these dealers are being stingy with their hidden incentives, and would be nice to have that figure in order to negotiate a better deal!

nortsr1

announced Monday or before. They are going to offer the 0% financing, get rid of the Employee pricing offer... and.. from what I have read, offer better incentives, probably in lieu of the 0% deal.

badgerfan

Employee pricing, at least for Grand Caravan, was a joke. Just before they put it into effect, I was able to pay employee price to a hungry dealer plus $99 (I am not an employee) minus $4k Rebate minus $750 owner loyalty rebate by proving I already owned a Caravan. I ended up with nearly $7100 off MSRP, and this was on well equipped but not extravagantly equipped GC SE, with an MSRP of $26640.

In July, when they implemented "official employee pricing to all" they greatly reduced the rebate levels to a lower level, so unless dealer was willing to discount even further, you paid more in July and August than in June.

Perhaps now Chrysler will go back to larger rebates, then if you find a hungry dealer like I did, you will once again at least match what you could have done in June.

nortsr1

My post #3771 has now reverted back to the "good old rebate" days. Chrysler announced today that the Employee pricing is OVER (thank goodness0 and the PT Cruiser (for example) is now a $2000.00 rebate and I was immediately offered a new PT Limited for INVOICE less the $2000.00, which means that it is now about $900.00 less than the Employee price plan when they offered only a $500.00 rebate and were not allowed to sell at invoice.

vegasresident

Norts1 - we knew it would happen, huh? Dealers will again offer the PT for a better price than the last two months offered.

Sadly for Chysler, after they extended that stupid employee pricing for another month, I finally had to get a new car during that time, due to family reasons so we went out and bought a car from a different manufacturer who gave us a price we could not refuse that was invoice minus their $1500 manufacturer rebate minus another $500 plus $110 worth of gas card money. Then when they forgot to do the VIN etching on the windows, we got a free roof rack, bumper protector, and locking gas cap.

I got the same interior space as the PT Cruiser would have given and great gas mileage.

We paid for the car in cash.

SO SORRY CHRYSLER! THEY BLEW IT WITH THE EMPLOYEE PRICING AND LOST A CUSTOMER. :P

vegasresident

My parents ordered a 2007 RAV4 that should be here in about 3 weeks. They lucked out in that their nephew (my cousin) owns a bunch of Toyota dealerships in Canada and is one of their top dealers. So after Toyota Canada called Toyota USA, they called my dad to arrange their car order and delivery. They are getting it at cost, no fees. Only tax. So they decided to get a fully loaded Limited. :shades: We bought something else since even at that kind of price it was still a little to high for us Course that does not mean I wont ask mom and dad to borrow their car now and then!!!

roundtrip

Don't make us beg.
What kind of car did you get? :P