Rebates, Incentives, APRs - Questions & Comments

ipoddin

Another question.

I'm aware of the rebates and special apr's for Chrysler that are good through 3/31. I'm looking to lease and they're offering $3k lease cash until then.

My question is, does anyone know what, if anything will be available after 3/31? Do you think there will be another one or bigger incentives as they get closer to the 2005 models? I'm considering the Pacifica.

blh7068

"My question is, does anyone know what, if anything will be available after 3/31?"

Usually dealers dont know(or wont say)what will be available beyond whats current. Remember the dealer wants you to buy today, not tomorrow so that wouldnt help immediate sales if better future incentives were known.

The reverse can be true, too. I bought an 00 DC minivan in January of 2000 and at the time you could get 0.9% for 60 months. That offer was good thru March. When the next round of incentives came the 0.9% was gone. So I chose a good time to buy. Hope this helps.

Good luck.

CarMan@Edmunds

Even though manufacturers publish end dates for their incentives programs, these programs usually do not just disappear after that date, especially in the case of the traditional domestic automakers. DaimlerChrysler will definitely continue to provide some sort of cash support on a model that it is providing $3,000 on right now after its program expires. After March 31st though the exact allowance that is available may be slightly different. Nobody, including the manufacturers themselves, know exactly what is going to happen with a vehicle's incentives several months down the road. Generally speaking, vehicles' incentives increase as the model year progresses. However, there is no guarantee that this will be the case. I personally expect DCX to at least maintain the level of support that it is providing on most vehicles now when it publishes its new incentives program in early April. Again though there is no guarantee that this will be the case.

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nick62

We're about to buy a new S60 for my wife, and I'm a little confused about the information on the Edmunds site about the rebates available on this car. I would like to ask if anyone knows what is really available:

The incentives section shows the following:

- $1000 Factory cash rebate to customers
- $1000 Marketing support to dealers
- $3500 Marketing support to dealers

Are the $1000 and $3500 marketing support amounts additive, or does the $3500 replace the $1000 support? Also, is there really an additional $1000 factory cash to customers? Is there really $4500 (or $5500) of rebate available on this car?

Any enlightenment would be greatly appreciated - we want to buy the car this week, and like everyone else, want to spend as little as possible.

Thank you!

Nick

CarMan@Edmunds

Hi Nick. I would be more than happy to give you an idea of what sort of incentives Volvo is offering on the 2004 S60 right now. It has a couple of different programs available on this car, so I can understand how you would be confused about what the real story is. Through the end of the month, Volvo is providing 1.9% financing for up to 3 years and 3.9% for 4 and 5 years PLUS $1,000 dealer cash on all 2004 S60 models, excluding the S60 R. Instead of this special financing program, consumers can just purchase this car for cash or finance it through a different bank and their model will be eligible for $1,000 dealer cash on the S60 R, $3,000 on the S60 2.4 / S60 AWD, and $3,500 on the S60 2.5T / S60 T5. The third option that exists on this vehicle is Volvo's lease program. Volvo is providing some extremely low lease money factors on the '04 S60 instead of the aforementioned dealer cash. The $1,000 Customer Cash that you saw mentioned here at Edmunds.com is only available for consumers who are members of AARP. If you are a member, then you would be eligible for this cash in addition to any other program that you choose.

This basically sums everything up, but please let me know if you have any other questions.

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nick62

Thank you very much Car Man! Now I'm prepared to do battle with the dealers!

Nick

CarMan@Edmunds

You're very welcome, Nick. Good luck in your quest for your new car.

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jlsesq

I have a situation where edmunds.com reports a $1000 cash to dealer marketing incentive that the dealer claims to be unaware of. How should I go about getting the documentary proof of the existence of this incentive so it can become an acknowledged factor in our negotiations?

rroyce10

....... I'm sure the dealer "principle" himself is aware of the $$, but perhaps the sales force is not aware of it ..

            The dealer may feel he won't part with the dealer cash .. I may not agree with it, but it is his option, his store .. check around and see what the other Volvo dealers in your area are doing.

                     Terry.

CarMan@Edmunds

Hi jlsesq. Out of curiosity, what model are you interested in getting? If you let me know, I would be more than happy to verify the existence of any dealer cash on it. Some dealers do occasionally claim to have no knowledge of available dealer incentives in an attempt to make additional profit on deals. This may or may not be the case in this situation. What I would do if I was in your situation is figure out the exact total (realistic) price that I wanted to pay for the vehicle in question, taking all customer and dealer cash incentives into account. Then I would see if the dealership that I was working with would sell me the car or truck for that price. If not, then I would comparison shop with a few other dealerships in my area. Just letting the dealership that you are currently working with know that you are going to purchase from another local dealership if they do not accept your offer may motivate them to part with this dealer cash.

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ipoddin

Any sort of incentives to lease an '03 or '04 Murano SL? Also checking out this in addition to the Pacifica.

CarMan@Edmunds

Hi ipoddin. The only sort of incentive that Nissan is providing on the 2004 Nissan Murano is lease support. However, it is providing a little more support on the '03 Murano to help dealers unload them. Right now, Nissan is offering 0.9% financing for up to 3 years and 2.9% for 4 and 5 years and lease support on this model. In addition to these special rates, Nissan has $500 dealer cash on '03 Murano 4WD models and $1,000 '03 Murano 2WD models.

The Chrysler Pacifica's incentives are a little more confusing. DCX is currently providing 0.0% financing for up to 5 years OR $3,000 customer cash OR 0.0% financing for up to 4 years PLUS $2,000 customer cash on this model. It also is providing special lease rates and lease cash on it this month.

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ipoddin

Just some clarification if you please.

I can do an '03 or '04 Murano. But what is lease support?

As for the Pacifica, I know about the $3k lease cash, but what are the special lease rates and cash for this month?

CarMan@Edmunds

You're welcome, ipoddin. Lease support just means that Nissan's is providing relatively low interest rates on leases of these vehicles. If you have any additional questions on leasing, please feel free to ask me them over in the Lease Questions - Ask Here discussion.

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mr_steve

Are there any of these out there? - I cannot find much info out there at all. Even when it comes to invoice pricing for planning your negotiation the info is scanty. As everyone else, I want the best price I can while letting the dealer make a reasonable cut to support his business.
Thnaks

CarMan@Edmunds

Hi mr_steve. Porsche's corporate headquarters in Germany is vehemently opposed to the use of incentives to sell vehicles. A couple of years ago Porsche Cars of North America sent out some vouchers to members of Porsche clubs that could be used to receive discounts on Porsches and Porsche HQ flipped out on the North American division, telling them to never do anything like that again. Having said this, a few months ago Porsche had a real oversupply of 2003 models and actually did introduce some dealer cash on leftover '03 models to help dealers unload them. This sort of thing is by far the exception rather than the rule with Porsche though and it does not have any sort of incentives available on its vehicles that I am aware of at this time.

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mr_steve

I appreciate the response - i will go see what I can find.
Mr_Steve

CarMan@Edmunds

You're welcome, Mr_Steve. I am glad that I was able to help you out.

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b4z

I have been interested in a SRX for some time but have felt that cadillac messed up when they priced this vehicle. It is about 2-3K more than it should be.

About 20,000 have been produced so far. 4500 this year, but there were only 1500 sold in January.

I can't help but think some kind of major rebate is coming.

This is what I know so far.

Base V6 MSRP is $38,690. Invoice is $35,840. I own a Lexus so $1500 conquest cash is available.
Making it $34,340.
But a local dealer is advertising a new one for
$33,700.
I did some additional research and found out that cadillac has given some dealers a very limited amount of Certificates valued at $500 each.
They can use 1-4 certificates per vehicle.
So 2 certificates would chop another $1,000 off making the $33,700 price work for him.

In light of the slow sales should I gamble and wait for some bigger incentives?
These things are not flying off the shelves but I was very impressed with the SRX i drove this afternoon.

CarMan@Edmunds

Hi b4z. Whether you should wait or not depends upon how badly you need a new vehicle. Given the low level of support that General Motors is providing on the SRX right now, you certainly do not have anything to lose by waiting. GM's incentives on most Cadillac models are scheduled to run through the end of March, but I would not be surprised if it made some revisions to its program in early March, perhaps around March 2nd. If I was in the market for a new SRX and was hoping for some incentives on it, I would personally wait until at least early March, if not early April to buy. Of course, there is no guarantee that GM will do anything with this vehicle then, but it wouldn't hurt to wait.

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keperkey

In a previous message, I read that it was not useful in negotiations to mention holdbacks. Why is that?

robr2

I'm not a professional, but most of what I've read leads me to feel that holdback is not profit. It is there to help finance the dealers' inventory. Holdback is paid to the dealers based on the amount of time the unit is in their inventory when it is sold. If the vehicle goes beyond a certain date, no holdback is paid. Basically, holdback averages out to pay the finance charges.

The one time I mentioned it during negotiations, I was pretty much told that holdback would not be discussed. Now that doesn't mean that some dealers won't dip into holdback to sell a car. But it isn't something I'd bring up again.

buster6

I am considering a chevy heavy duty truck (an express 177 inch WB Cut away to be exact). I will be converting it to a moving truck to lend to my clients after they buy a new house (I am a realtor and can do the line 183 tax deduction on the truck). I am unable to find out the incentives on edmunds for this type of truck. The dealer had $2500 or 0% for 60 months, plus $900.00 towards the conversion costs last month. I have seen that the regular trucks are now 2k + 0% for 48 months. Did the express trucks changes as well? Also is there any other type of $ I should be looking for such as conquest cash?

Thanks

CarMan@Edmunds

Hi buster6. As you mentioned in your post, right now General Motors is providing $2,500 customer cash or 0.0% financing for up to 5 years and 2.9% for 6 years on the 2004 Chevrolet Express. A third option of 2.9% financing for up to 5 years and 4.9% for 6 years PLUS $1,000 customer cash is also available on this model. These offers are basically the only incentives available on this model right now. GM is running a couple of other incentives programs, such as a $500 certificate program and a company-wide dealer volume bonus program. These programs do not directly impact the price of the vehicle that you are interested in, but they may allow dealers to take slightly thinner deals on some models than they normally would have been inclined to.

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tish986

I was just wondering if Volvo is going to extend the incentives on the S60R beyond 2/29/04 or if you know if there will be some new incentives in March?

CarMan@Edmunds

Hi tish986. As you are already aware, Volvo's current incentives are scheduled to run through February 29th. I have not heard what it is going to do with its incentives in March yet. It is difficult to predict what manufacturers will do with their future incentives programs with 100% accuracy. Given the fact that incentives generally increase as the model year progresses, if I had to make an educated guess I would say that Volvo is going to at least continue its incentives on the 2004 S60 as is if not enhance them slightly. Again though, we won't know for certain what it is going to do until it publishes its new program early next week. Please feel free to check back with me in a few days and I will be more than happy to fill you in on what I have been able to find out about this car's March incentives.

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ddelise

Hello -

Just curious if you could help me understand how Buick applies all of the incentives they offer to leases. In other words, I see they have offers like $3000 rebate + $750 bonux cash (probably going away soon) - but does all that apply if you lease the car?

In addition, can you provide me the money factor and residual amounts for a 36, 39, and 48 month lease, at both 12k and 15k miles/year? I am interested in the CXL model if that matters.

Thanks Much!

Damon

CarMan@Edmunds

Hi Damon. I would be more than happy to help you out. General Motors' normal customer cash incentives are not compatible with its lease program, but it does have lease cash on certain models. If you were to lease a 2004 Buick Rendezvous through General Motors right now, you would be eligible for $1,000 Lease Cash for 2 to 3 year leases in certain parts of the country and for $2,000 for 4 year leases all of the U.S. In February, GM was also providing $750 bonus cash on the '04 Rendezvous that was compatible with its lease program. I have not seen if it continued this bonus cash for the month of March yet, but there is a good chance that it will be continued.

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ddelise

Thanks Car_man for the information.

Also, can you provide me with the money factor and residual pecentage if you have the information available to you? I am interested in 36, 39, and 48 month - you can answer for 12k miles/year.

Thanks! Damon

CarMan@Edmunds

No problem, Damon. General Motors Acceptance Corp.'s residual values for the 2004 Buick Rendezvous AWD are currently 51% for 36 months and 42% for 48 months. I do not believe that GMAC is running a 39 month lease program at this time. If you have any other questions on leasing, please ask them over in the Lease Questions - Ask Here discussion. Thanks.

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fredvh

Can Jason or anyone else advise if there are current rebates on the 2004 Toyota Camry for the Chicago region?

CarMan@Edmunds

Hi fredvh. I believe that Toyota is currently providing $1,000 customer cash or 0.0% financing for up to 3 years, 1.9% for 4 years, and 2.9% for 5 years on the 2004 Camry in its Chicago region.

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fredvh

Thanks. Your site shows that there are no current rebates for the Camry so I did not know if there were any or not. Will your web-site be updated later?

CarMan@Edmunds

You're very welcome, fredvh. I am only involved with the Edmunds.com Town Hall and do not have anything to do with the incentives section of this site. The people who are responsible for that aspect of the site probably have not put in all of Toyota's regional incentives yet. Please let me know if you have any other questions.

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sga826

I recently purchased a WRX and am very happy with the vehicle and the price paid. The financing, however, is another matter. My company has a VIP plan and I just stopped by the dealership on a Friday night just for info.

I ended up getting a great deal and left with the car. I was suspicious the next day when the dealer said the 1.9 financing fell through. My credit is excellent but they cited some items from 10 years earlier that were actually my ex's.

They knew I had fallen in love with the car and I knew I wouldn't make even one payment at the dealer's alternative financing rate. It was the weekend so I had few options.

I did apply online with Capital One and got the approval on Monday. Unfortunately I now have to pay a slightly higher rate because its considered a refinance.

I am sure this was the only way the dealer was going to make any money since I paid considerably less than Edmund's invoice price. I did get the 750.00 rebate since I didn't qualify for the low interest.

I would caution those counting on these low financing terms to have the dealer qualify you first and then make your best deal.

jasmith52

Well I've got a few comments on your experience with the car purchase:

1) you posted that your credit is excellent. Do you know that for a fact and do you know your credit score ?? Maybe you pay your bills but have a large balance on some of your accounts. Maybe to qualify for the low interest loan you needed to put more down payment into the car.

2)Knowledge is power - so if your credit is truly excellent why did you bother to deal with these lying weasels. If your credit is fairly good but not excellent then what happened to you is to some extent your own fault.

3) This may be a dealer game to extract more money out of you. You had the option to return the car if the terms of the contract were not met. Their offer of the high interest rate was just another way to pack the deal.

4) My credit union will refinance any car as new if the car has been purchased in the last 90 days. Maybe you could find a credit union/bank that will help you out in the same way. In other words, you may not have to pay an interest rate penalty even though the car has been driven off the lot and is not (technically) new anymore.

5) Just so you'll know, the rebate received ($750) is worth about a one percent reduction in interest rate for a $30k (or so) loan over a 60 month payment. My credit union is offering 4.09 percent loans for new cars to people with excellent credit. So it seems to me, that your loss (between 1.9 and 4.09 percent financing) is on the order of about 2 percent or around $1500 by not getting the low financing. Subtracting off your rebate and your loss is around $750 net.

So that loss of low financing cost you maybe 2 to 3 percent total of the value of the car over the life of the loan. That's a fair amount of money but relative to the value of the car its not gonna break you.

My suggestion is to just enjoy the car and not to worry too much about the relatively small details of the car loan.

rroyce10

.....1) you posted that your credit is excellent. Do you know that for a fact and do you know your credit score ?? Maybe you pay your bills but have a large balance on some of your accounts. Maybe to qualify for the low interest loan you needed to put more down payment into the car.

               Yep, that would be my question ...

                       Terry.

moparbad

Anything new on the horizon? I had a $1000 coupon to add to my GM Earnings that expired on the 15th. Wish I would have used it.
Anyone know of any new GM incentives?

moparbad

What incentives are available from GM? Is the $1000 24hr test drive incentive still available? How is it obtained?

fredvh

What is the $1000 24-hour test-drive incentive?

CarMan@Edmunds

Hi moparbad. I have heard that General Motors is sending out direct mail coupons to consumers in conjunction with its 24 Hour Test Drive promotion. Initially, a lot of the coupons that it sent around were for $1,000, but I believe that its most recent mailing offered $500. I don't think that there is any way to get these coupons directly from dealers. The are probably being sent to consumers who have requested information from GM on certain vehicles or on the 24 Hour Test Drive program via e-mail or snail mail.

Since we're talking about obscure programs, I thought that you might be interested in the fact that GM is running another one right now that provides its dealers with a number of $500 "instant value certificates" that can be used on deals. I haven't seen exactly how many of these certificates are floating around out there, but you may find that certain dealers have a little more room to negotiate on certain deals.

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nortsr1

Car Man,
  I was all set to purchase a 2004 Saturn Vue,V6, as GM is offering a $2500.00 rebate. I also have 1500.00 on my GM card but was told that Saturn is not accepting the GM points. I know that at sometime in the not too distant past they did take GM points. What's the skinny??? Would appreciate a fast reply, as the 2500.00 rebate expires 3/31/2004.

CarMan@Edmunds

Hi nortsr1. When Saturn was initially introduced GM Card holders could not use their earned points to purchase them. This continued for quite some time, but at several points over the past year or so General Motors has allowed the use of GM Card points on Saturns as an added incentive to help boost Saturn's lethargic sales. It appears as though, at least for now, GM has stopped allowing the use of GM points on Saturns. You may want to place a call to the GM Card hotline just to make sure that this is the case. It would not surprise me in the least if they allowed the use of these points again in the future. If you are set on getting a new SUV in the near future, perhaps you should consider another GM model. It has a large number of SUVs in its stable. I am sure that you would be able to find one that you like as much as the VUE.

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nortsr1

I,also, agree that Saturn at one time or another did take GM points (up to a $1000.00)that I know of.You are right...I will just hold off for now, as it is not written in stone that I have to purchase immediately. The sales at Saturn are "lethargic. Let's face it, they don't get very many "good" reviews as compared to the Honda CRV,Toyota Rav4, Subaru Forester, Ford Escape, etc.,etc.

CarMan@Edmunds

No problem, nortsr1. I'm always glad to help. Let me know if you have any other questions.

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douginma

Hi,

We were looking at a '03 V70 (I know, I know, we should consider the V70 T, but I don't think we can swing it.) Anyways when we were looking last fall, I noticed there was 4K dealer cash available, probably to make way for the '04s.

We're probably going to buy this fall and am wondering what the word on the street is regarding moving the '04s later this year? Do you think they'll have the $4K dealer cash on them this fall to make room for the '05's??

(I would think so because they introduced the $2K on the '04s soon after they came out).

aggie84

With the new Caravan coming out and sure to be packed with incentives/similar features as the Freestar, do you see another round of better incentives/rebates coming out on the Freestar after March 31. Also, we qualify for A plan pricing through a relative. Does anyone know how to calculate dealer net invoice?

CarMan@Edmunds

Hi aggie84. According to what I have heard, Ford plans to continue the incentives that it currently has available on the 2004 Freestar unchanged in April. This doesn't mean that they won't enhance this van's incentives at some point later on in the month, but at least initially I expect its incentives to remain the same. The best way to find out exactly what price you will have to pay for this model through Ford's A-Plan is for your relative to provide you with a PIN number for Ford's Employee / Supplier Purchase Plan Web site, which is at www.axz.ford.com .

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kange

Any infor on whether or not the rebates from last month will return for the 2004 Escapes ($2,500)? Edmunds does not list any rebate besides the $400 college grad rebate. Regards - Kange

CarMan@Edmunds

Hi Kange. Ford continued the $2,500 customer cash that it was offering on the 2004 Escape in March for the month of April.

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