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Rebates, Incentives, APRs - Questions & Comments

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I believe so, yes.
  • trucks2trucks2 Member Posts: 1
    The rebate is subtracted from your best negotiated deal. Be sure when working the deal with the salesman that he/she understands that the rebate is not negotiable and you expect it to come off their best price. I'm a salesman and this is how I work my deals.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Rjohn, I believe that the $750 incentive on C/K 1/2 Ton models has been extended. Please check our incentives page later on this week. I suspect that it will be updated several times in the near future.

    Your Host
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Dstew, I answered your question in the "Dealer Incentives" Topic that you posted it in. Please check there for my answer.

    Your Host
  • mknebelmknebel Member Posts: 6
    Car Man, I noticed the Rebate/Incentives page was updated recently and the $1000 customer rebate for a 1998 Dodge RAM regular cab pickup was still listed. You stated in a former response that you would check the actual incentive bulletin on this vehicle. Did I miss a reply, is the customer rebate information really valid? A dealership and Chrystler both have told me it expired late last year.
  • lexusipolexusipo Member Posts: 1
    Car_Man,

    I have two questions for our forum:

    1) I am getting a Lexus GS. I have received two MEMORANDUM INVOICES from two different dealers with one month of each other. The later Invoice lists "LDA" below the Sub Total, the sum of which give the Total Invoice. If that appears on the Invoice is it gospel, and part of the dealer cost?

    2) My dealer says that there is no holdback on the GS models. Although Edmunds is the only site that I have seen it listed I believe it to exist. How can I prove that it exists in the eyes of the dealer. Should I go directly to the General Manager?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Mknebel, sorry that it has taken me so long to get back to you. I haven't been able to get a hold of the original dealer bulletin on this subject, yet. However, I think that I may be able to get a hold of it tomorrow. I'll let you know if I find anything out.

    Your Co-Host
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Lexusipo, the LDA that you mentioned may be the Lexus advertising charge. I believe that they are charged a fee by Lexus that is equal to a certain percentage of the vehicle's price to cover advertising expenses. I advise you to try not to mention the dealer holdback in your negotiations if at all possible, especially on a luxury make like Lexus. Dealers hate to talk about holdbacks.

    I really don't think that you should get caught up in all of the little details. Sure, you absolutely should use the holdback information to determine approximately how much you think that you should spend on the car that you want. However, once you have determined a price range, don't get caught up in all sorts of little fees. Just find out from the dealership exactly what it will cost you to drive off in the GS that you want. Make sure to shop around at a couple of locations and go with the one that gives you the best out-the-door price. Ultimately, the market for the specific vehicle in your area of the country will determine how much you will have to pay to get one. By shopping around you assure yourself that you have gotten the best possible price for the car that you want. Good Luck.

    Your Co-Host
  • jwiser1jwiser1 Member Posts: 9
    Just bought a 99 Altima SE 5-sp two weeks ago. Got an ok deal(300 over invoice -- including options at invoice). Then, of course, I got the rebate on top of that. Yet, the rebate turned out to be 2500 instead of the 1500 listed in Edmunds. Never asked about the rebate but was offered up front -- as soon as I walked upon the lot. What's up with the 1000 difference?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Mknebel, I checked into the Chrysler incentives for you. As of January 5th there was $1,500 Dealer Cash on 1998 Dodge Ram Regular Cab, $1,500 Dealer Cash on 1998 Club Cab, and $1,000 on Quad Cab models. This program is supposed to be good through April 5th. So, it appears as though the information that is listed here at Edmund's is correct.

    Your Co-Host
  • henryyanhenryyan Member Posts: 1
    I was wondering if Acura is offering any rebates anytime soon. I am planning to buy an Acura Integra, but a salesman told me 3 months ago that they MIGHT be offering a factory rebate some time around now... Can anyone shed some light on this?
  • thesurfdonthesurfdon Member Posts: 1
    I was curious if anyone knows how to find dealer incentives/rebates in California. I live in L.A. and I am looking at 4 door 2 wheel drive 99 Jimmy SL. The incentives listed on Edmunds say they are not applicable in CA. So maybe one of you could help me out. Also, when going to the dealership, should you tell them upfront that you know about the incentives and holdbacks? Any help would be GREATLY appreciated. Email: Thesurfdon@aol.com

    Thank You,
    Michael
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Jwiser1, there is currently $1,500 Consumer Cash nationally available on the 1999 Nissan Altima. It is entirely possible that the extra $1,000 was some sort of regional enhancement to Nissan's national program.

    Your Co-Host
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Henryyan, Acura currently has $1,000 Dealer Cash on 1998 Integras. This cash is available on both leased and purchased units through the end of the month.

    Your Co-Host
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Michael, General Motors' incentives frequently exclude what are known as the CMI stares. These stares are California, Oregon, Idaho, and Washington. This is why our incentives page contains the note that you mentioned. However, I believe that the current GMC programs that we have listed are good in California. It is OK for you to let the salesperson that you are negotiating with know that you are aware of any current incentives and the dealer holdback. Let me warn you though, most dealerships hate to talk about their holdback and mentioning it may only serve to break down your negotiations.

    Your Co-Host
  • minton20dminton20d Member Posts: 2
    Car man
    re: post 832

    Does the Integra Dealer Cash extend to the 1999's?
    I have been offered $100 over invoice "for this week only". Do you have any insights?
  • sheidtsheidt Member Posts: 6
    Car_Man,

    What's the word on current incentives and rebates for the '99 Infiniti I30? I've been hearing people say that they've been getting less than invoice recently on them. That would make sense with the incentives and rebates I saw they used to have, but it looks like there aren't any incentives or rebates on them now. Thanks for the info, in advance.

    Stephen
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Minton20d, no the Dealer Cash that I mentioned does not apply for 1999 models. $100 over invoice sounds like a good deal on this car to me. Even though the salesperson told you that this offer is for this week only, chances are that he will let you purchase it for the same price at a later date. Still, if you are happy with the car I don't see any reason why you should wait.

    Your Co-Host
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Stephen, it is entirely possible that consumers are purchasing the 1999 Infiniti I30 for less than invoice. I expect Infiniti's new incentives to be posted on our site sometime tomorrow. They currently have $1,500 Dealer Cash or $1,350 Lease Cash on the '99 I30.

    Your Host
  • minton20dminton20d Member Posts: 2
    Thanks for the response. If I go ahead I assume I can take this price and roll it into a lease package based on Acura's normal residual and money factor. On this note, is there any advantage in offerring to prepay the lease cost less the money factor? What are the odds of getting dealer installed accessories at invoice? Do you think the Integra will continue to show low depreciation given that its approaching the end of this generation's life? Thanks again
  • davewvdavewv Member Posts: 2
    I have several questions regarding Dealer Holdback.
    First, should I exclude the Destination Charge, Rebate and Dealer Incentive from the MSRP when calculating the Holdback?
    Second, if I order a vehicle from the factory and pay Dealer Invoice does the salesperson see any of the profit from the Holdback?
    Last, how are salespeople paid? A percentage of the amount over Invoice or a percentage of the amount over "True Invoice" (less incentives, holdback & rebate)?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Minton20d, many captive finance companies offer rate discounts for customers who pre-pay their leases. I am not sure if American Honda Finance Corp. allows this sort of deal. You should check with your dealership to see if you will get any discount by paying your lease off in advance. I have a feeling that this may not be an option that is available through AHFC.

    You may be able to get dealer installed options at invoice, I guess that this will depend upon how much profit the dealership is making on your lease.

    It is possible that models near the end of their product life cycle are worth less later on as used cars. This is certainly the case with the previous version of the Acura TL. The new version is much improved and costs significantly less than the old version. So people who bought the old model near the end of its life will lose a lot when they try to resell their cars. I really have not heard very much about the next generation CL, but it is possible that this sort of situation could arise again. Even if it does, it really doesn't matter if you are just leasing your car. If you are leasing and decide that your vehicle is worth a lot less than you originally had anticipated that it would be at the end of your term, you always have the option of merely turning it in.

    Your Host
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Davewv:

    Although different manufacturers calculate their dealer holdbacks differently, the majority of them calculate it based on either the dealer invoice or MSRP not including destination charges and not subtracting any incentives. Similarly, how dealerships compensate their salespeople can vary quite a bit from dealership to dealership. Even so, if you purchase a vehicle the salesperson will make something. Of course, the more money you pay for your purchase, generally the more money the salesperson will make.

    Your Host
  • davewvdavewv Member Posts: 2
    Thanks. So the sob story from the salesman that he wouldn't see any of the holdback profit may or may not be true? I'm getting the "I have to put bread on my table too" story.
  • C13C13 Member Posts: 390
    He does have to put bread on his table. It's a way of reminding you that the money he makes on these deals is what he lives on. Less money, less living. Do you demand pay for your work? Do you buy food with it? Same deal.

    He will not get anything from holdback. The dealer gets that. What he'll get (at most stores) if the deal goes below a certain profit margin but is still approved by the manager, is a "mini" - the guaranteed minimum commission. It varies from $50 to $150 depending on the store. Some stores don't do mini's. If a deal yields a $3 commission, that's what he gets.

    I knew a new salesman who was ecstatic to make 20 sales in his first month. Got a lot of handshakes and pats on the back. Then he got his paycheck (all mini's) and was too depressed to come to work for several days. You can't live on mini's.

    I'm not saying you should listen AT ALL to his talk, or that you should pay more than necessary. What you have to do if you're serious is do your homework. Read Edmunds' pages about what holdback is and is not, and take notes. Read their page on how to buy a car. Find out the exact invoice and MSRP on the car AND the options you want. Know which options packages are which. Learn retail and trade-in value of your trade. Get financing from your bank or credit union before you go to buy.

    When you get ready to drive to the dealer's you should already have your offer written down on paper: Invoice + profit + sales tax + freight - rebate - trade-in. Roughly 3 to 6% profit is usually adequate. Don't leave it to him to finance it, don't buy aftermarket and don't get an extended warranty.

    The way to keep from getting ripped off is to make sure you don't rip YOURSELF off. Believing that a salesman has some magical power to make a killing even when there's zero profit in your offer is not the same thing as being a smart shopper. On the contrary, if a clever thief sees that you are capable of such self-deception, he'll know he has a sucker on his hands, and he'll find a way to get your wallet.

    About the "sob stories", let him know that you're there to do business and that if he promises not to whine, you won't either.
  • tourneetournee Member Posts: 2
    I see on GM's web site that the 4-door Jimmy has a $1,000 cash back incentive. I have a GM card with $2,000 cash worth of rewards towards the purchase of a new vehicle. GM will honer the $2,000 GM card earnings regardless of other incentives (or so they say). What do you think my chances are of negotiating the cost for a Jimmy SLE at 2% above invoice cost (invoice is $24,453) and then getting the $3,000 back in incentives? Do you think trying to negotiate below the MSRP will be a waste of time once the dealer sees the incentives I have?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Tournee, the $1,000 incentive and your GM Card discount should not have anything to do with the price that you negotiate with the dealership. Negotiate the best deal that you can and then subtract the $3,000. This money does not come out of their pocket and should have no effect on their price. It should be easier to negotiate a good deal on a Jimmy than it would be on many other trucks right now, but it is hard to say if you can get the dealer to go as low as 2% over invoice. You never know until you try. You should probably shop around at a couple of dealerships to make sure that you are getting the best price that you can in your area of the country.

    Your Co-Host
  • shawnmaloneshawnmalone Member Posts: 71
    Dave, with respect to your post #839, exclude all additional charges from holdback calculations on your initial offer. You can trust the salesperson to let you know if your offer is too low. Calculate the lowest price you can justify and let the salesperson explain why you should pay more. That's how he earns his living. It's a red flag if you hear about how much it costs to keep the dealership open, how he has to make a living, etc. That's not relevant to the market price.
  • C13C13 Member Posts: 390
    It is relevant if the buyer has knowingly made an offer that contains zero profit, as some do. Otherwise you just tell him that you have bills to pay too.
  • herrerrherrerr Member Posts: 2
    I have seen a 1500 dollars factory rebate advertised in the local newspapers for the 99 windstart. Is this a missprint or a newer program by Ford?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Herrerr, is the advertisement that you are looking at a dealer sponsored or a manufacturer sponsored ad? Dealerships often advertise discounts on vehicles that are much higher than the manufacturer's program by including some of their profit.

    I believe that Ford currently has $1,000 Consumer Cash or .0% - 2.9% financing available on the 1999 Windstar on a national basis through April 1st. Manufacturers occasionally run regional enhancements to their national programs. This could be where the extra $500 came from.

    Your Host

    P.S. I just checked Ford's Web Site and it says that they presently have $1,000 Consumer Cash on the '99 Windstar, too.
  • bjk101bjk101 Member Posts: 3
    I'm shopping for a Dodge Ram 2500 1999.
    The DI is $500.00. I'm located in Saint Louis, Mo. Is the DI regional? How can I find out?
    Are the DI's kept by the dealers and never passed on to the customer? Will most/any dealer even
    acknowledge their existent?
  • C13C13 Member Posts: 390
    http://www.edmunds.com/edweb/Incentives.html
  • juls1juls1 Member Posts: 6
    When will Edmund be updating its rebates and incentives link - it is dated 2/11/99. Surely there should be some new deals out there??!!?
  • KCRamKCRam Member Posts: 3,516
    juls,

    Have you cleared your browser cahce recently? You may be looking at old saved pages.
  • KCRamKCRam Member Posts: 3,516
    oops, should be CACHE
  • blumsdenblumsden Member Posts: 15
    Can anyone confirm that GM Canada also has the 3% holdback like GM USA ? My dealer says no, but I don't know for sure.

    Thanks!
  • hmerglerhmergler Member Posts: 85
    Just thought this was neat trick by GM according to the rebate list at Edmund's...

    Jeep Wrangler 6-cyl. automatic $625 (4 cyl. models only)


    kcram:

    The most recent incentive/rebate list from Edmund's is from 2/11/99.
  • bnormannbnormann Member Posts: 335
    Sorry, Folks,

    I have to freeze this topic quickly to avoid crashing our discussion server. I will be creating a new topic later today that will consolidate this one with some others that have the same theme. Until then, you can use this one:

    http://wellengaged.com/engaged/edmund.cgi?c=Smart_Shopper&f=0&t=111

    Thanks,

    Bruce.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    This Topic is a continuation of Smart Shoppers
    Topic #26, Dealer Holdback, Incentives, and
    Rebates. Discussions that exceed 500 posts can
    cause our system to crash. Therefore, due to the
    original Topic's popularity I am moving the
    discussion here. If you would like to check back
    and see what has already been written on this
    subject please click here: Dealer Holdback,
    Incentives and Rebates (Topic #26)    .

    Thanks,

    Your Host
  • juls1juls1 Member Posts: 6
    Hope someone will answer my question about Edmund updated the incentives/rebates from 2/11/99. Have seen this question posted in other topics from others as well.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Juls1, which manufacturers are you specifically interested in? It is true that our incentives page has not been revised since February 11th. Most manufacturer's marketing programs run on either a monthly or quarterly basis, with very few midstream revisions. Therefore there really has not been many changes since the last revision to this page. We should have new information on any programs that have or will soon expire in the near future, late this week or early next week. If you have any specific questions please feel free to ask me and I will be glad to see if I can help you out.

    Your Host
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    This Topic is being frozen and continued in Smart Shoppers Topic #1,240, Dealer Holdback, Incentives and Rebates - Part 2. Discussions that exceed 500 posts can cause our system to crash. Therefore, because of this interesting Topic's popularity I am moving the discussion there. Please click here to continue: Dealer Holdback, Incentives and Rebates - Part 2.

    Thanks,

    Your Host
  • juls1juls1 Member Posts: 6
    Car Man - I am looking for any rebates and/or incentives on the Dodge Intrepid 99 ES model. Thanks Julie
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Juls1, thus far Chrysler has not made any changes to this model's incentives. However, I have heard that they do plan to make some minor revisions to their current program in the near future. I haven't heard the details yet, so I don't know if there will be any adjustments to the cash on the Intrepid. Ask me again next week and I'll let you know if I have any more details.

    Your Host
  • chenh101chenh101 Member Posts: 1
    Car Man - Can you tell me '99 Isuzu Trooper's rebate and incentives after 3/1/99? Thanks!
  • weaselherderweaselherder Member Posts: 1
    My wife and I are looking to buy a 1999 Ford Taurus. Since the dealer does not have the specific options we want anywhere on the lot, we were going to have them order our car. The salesperson said an order might take a couple months to process, but she could locate a car from another dealer within a couple days.

    Will my local dealer get any holdback for this arrangement? Will the destination charge be used to move the car from one dealer to another? Should I expect to pay an additional charge? I want to know how much leverage I have before I start negotiating.

    Thanks.
  • blumsdenblumsden Member Posts: 15
    Does anyone know of a reliable source for Canadian rebates and incentives?



    Thanks,
    Brian
  • blumsdenblumsden Member Posts: 15
    Does anyone know where I could find Canadian rebate/incentive information on the web?


    Thanks,
    Brian
  • KCRamKCRam Member Posts: 3,516
    weasel,

    Usually in a dealer swap, the dealer keeps the holdback on the stock vehicle they ordered. For example, your dealer (A) finds your Taurus 200 miles away at dealer B. They agree to swap, as A has a Mustang that B wants. Dealer A keeps the holdback on the Mustang and dealer B gets the holdback on the Taurus, even though they are not selling the cars themselves. The factory is only aware of the dealer they have delivered to, and that is who gets the holdback on it. I would say you should not bother with holdback if they offer a car they have found, because they will not tell you what they swapped to get it.


    blumsden,

    A very helpful link on Canadian pricing is in Topic 1171 - click here to get there quickly. If that specific site can't help, they probably can assist you with links or an email response.
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