• balichbalich Member Posts: 62
    I'll start ...

    '03 Chevy Silverado w/ 3 miles in Boston, MA
    Extended cab
    Short back
    Z71 package
    LS package
    Power seats and alluminum rims
    5300 engine

    Sticker: 33146
    discount -5146
    Rebate -3000 (this was the rebate at time)
    GM card -2500

    Purchases a car on lot and delivered price:

    $22,500 was the final price. (No trade-in).

    Negotiated a spray on bedliner over the rails for
    $400.00 (this was extra).
  • fxsfxs Member Posts: 50
    2003 SS MSRP ~39K

    GMS discount ~34K

    Rebate + Conquest + GM employee Bonus cash = 5K

    ~2K WRX trade in equity

    Financed ~$27K with TTL @ 3.9%/60 months and pay

    $498.29 monthly

  • black_silverblack_silver Member Posts: 39
    2500HD LT Trim level, DuraMax, Allison, Bose, XM, locker, towing pkg, sprayed liner.

    Sticker was $41,800US.
    Paid (after rebates and discount) $34,578US.
    Brown & Brown Chev, Mesa, AZ
  • loplop Member Posts: 2
    I'm buying a 2004 Silverado 3500 Crew Cab with a Duramax and Allison, LS, tow package, etc. It will be used to tow an enclosed trailer which will have a race car that weighs about 1000 pounds plus all the support equipment. The total weight to be towed will be well below the limit for this truck. The dealership is, of course, trying to sell us an extended warranty -- either with Allstate or GM. I read through all the problems people have had with these trucks and the good and bad about extended warranties. Mostly I learned to try to negotiate the cost of the extended warranty, and that it's probably a good thing to have. No one seemed to quite have the same kind of configuration we will. Can anyone respond to the need for an extended warranty in our case?

    Thanks in advance for your help.
  • mitzijmitzij Member Posts: 613
    I generally say NO to service contracts. The term extended warranty is a misnomer. The odds are against you that you will see a return of your money. In your case, you need to be sure towing the trailer/race car combo won't void the contract. If you write the truck expenses off as business, the contract is void. Most service contract companies I've dealt with ask if the vehicle is used for business or has been modified. Both things void the contract. If you must get a warranty, go with a manufacturer backed one. Be sure it has (in your case) GM's name on it. Be sure you know exactly what is covered and what is not, and what your deductible is.
  • peezulpeezul Member Posts: 1
    I just purchased a 04 1500 CC 2x4 LS with 3.73, cloth ,hd trailering. Invoice minus $3000. $25700 plus TT&L. I am happy and had great expeirence at the dealership. Mesa,AZ.
  • indian3indian3 Member Posts: 14
    Mine is 3 weeks old a 04 1500 cc 3:73, towing package, upgrade mirror package, bucket seats, six disc cd changer, raised white letter tires, steering wheel controls, spray in bed liner, and I love it. I paid 24,400 + 350 for the bed liner + 1120 for 6/100k/100 extended warrenty + ttl. This is in San Antonio, Texas.
  • libby2libby2 Member Posts: 1
    Regular cab work truck, 4x4, automatic, long box, a/c, cruise, V-6, AM-FM. Sticker price $23,625 minus Chevy rebate $3,500 minus dealer incentive $1,763 minus trade $500 equals $17,862. Need to know if this is a good price. Thanks!
  • boat10boat10 Member Posts: 59
    purchased new 2004 LS, shortbed regular cab, 5.3, trailer pkg, heavy duty sus., folding mirrors, reduntant steering wheel controls, alum. wheels, 255/60r.16 tires, fog lights, automatic, (list 26,988) dealer cost 22090 less 3500 gm rebate, less trade (2002 rado, 29000 miles), less 1850 dealer rebate. I gave 3100 differance. GOOD or BAD?????????
  • obyoneobyone Member Posts: 7,841
    2002 rado. Was it a LT?
  • boat10boat10 Member Posts: 59
    basically the same as the '04 except no folding mirrors, redundant steering wheel controls, had 4.8 engine and was an LS. The '04 also has locking diff.
  • obyoneobyone Member Posts: 7,841
    No matter how I add it up it doesn't come out. Must be missing some options or something. Oh well.
  • fanofgmfanofgm Member Posts: 12
    I have a 99 GMC Sierra and i have been looking at the 1500 Crew Cab since March or so when they came out. Well I finally went looking today and drove one (had the wife's car getting some damage looked at) I brought my truck back, i took a test drive etc... Well The sticker is $39130! But it has everything 6 Disk with XM, Onstar, Leather, Turn signal Mirrors and is that really nice Sport Red! After trade in of $10500 (i have alot of miles on my 99) and $3000 owner loyalty we are down to $25630. Not bad but I won't go over 48 months and the monthly payment is really steep! I'm not sure what to do, it's really nice to not have a truck payment and the wife just got a new car so she keeps telling me "no you can wait another year or two" but i don't think i can! I trust the dealership, i buy everything there except for my last truck whata you all think?
  • texsuntexsun Member Posts: 23
    Go for it! It's all you'll think about if you don't.

    I went through the same thing when I was considering trading in my '99 for an '02 CC. No regrets and the better half finally agreed it is the better truck.

    You only live once - Good luck.
  • aspesisteveaspesisteve Member Posts: 833
    try being a fan of the Ford F150

    it's flat out the better truck and you can get them for $8,000 off MSRP at the end of the month (or now if you can haggle)

    I drove the Silverado first, was even eligible for the GM family discount (joke) and passed for the F150.

    At least take a test drive.
  • wishamiwishami Member Posts: 1
    That sounds like a good deal on the "03" Silverado. Good Discount. Do you think that they are giving as good of a discount on the "04" Silverado? Who was the Dealer and location and if possible a Phone #. Thanks, Bob W.
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  • doitritedoitrite Member Posts: 2
    I just bought an Express Cargo Van at 20% below the sticker price. The total price I paid included all the fees of Dealership and Taxes, so I think I did well. Drive out price. I think they will do the same for pickups. I found that the commercial / fleet sales was the way to go. Call Tom Jumper Chevrolet (Atlanta, GA area in Roswell) and ask for FLEET SALES. Mention U of Georgia football and it helps. One guy in Fleet Sales has all kinds of Big Dog stuff. I bought on July 28, so the end of year incentives are in full swing.
  • harold1harold1 Member Posts: 1
    The Edmunds Chevrolet 1500 Truck rebate page indicates $3,500 in cash and a second $1,000 in cash. However, the dealer indicates he is unaware of the second $1,000 rebate but is aware of a $1,500 rebate from GMAC if financed with them. Can anyone shed light on the $1,000 rebate noted on the Edmunds rebate page?
  • hogboyhogboy Member Posts: 84
    Harold, go directly to the chevy web site for your rebate info. The link is: www.chevrolet.com
    For example, the Northeast states have a 5k rebate on the 2004 Silverado thru 9/7/4 for cash deals.
  • jerrymcshane1jerrymcshane1 Member Posts: 195
    Hey Harold, WWW.GMBUYPOWER.COM lists (as of today) a $5,000 cash rebate PLUS. I'll say it again PLUS another $1,500 if one finances the purchase via GMAC. In other words, your looking at a rebate of $6,500. Sounds too good to be true? I don't think so for the competition is greater now than it ever has been in the tuck arena.
  • jerrymcshane1jerrymcshane1 Member Posts: 195
    FORGET my previous "post" Harold. The TOTAL rebate is $5K which INCLUDES $1,500 if one finances via GMAC. If not then the rebate is $3,500.
  • hydnhydn Member Posts: 8
    Does anyone have knowledge of what incentives for GM have done in the past AFTER the new models are in the dealerships? I am thinking they reevaulate inventory and make a decision. I am assuming this year there will be alot of V8 trucks left over and the incentives will be even bigger. Anyone else any thoughts?
  • bristol123bristol123 Member Posts: 22
    My memories seem to be that when the new model year vehicles start hitting the lots, the incentives on the prior year vehicles stay in place or increase marginally. There are usually little or no incentives on the new model year at that time. For best selection on prior model year vehicles, I'd deal right now with the current incentives and not wait for some marginally increased incentive on a lower supply of vehicles to choose from.
  • ebrumebrum Member Posts: 1
    hi, I've heard the Chevy 6.0L isn't very good at pulling travel trailers. I want to be able to pull a 28" travel trailer loaded to about but prob NOT over 8000lbs. I had planned on buying one, but am now scared off.

    I went to Ford and found the 1/2 ton can pull 9500 pounds (seems like a lot to me), but have read some Edmunds test drivers and they have different opinions. I sure would like some opinions on either or both brands.
  • sstsst Member Posts: 1
    Just picked up my new 04 LS 1500 extended cab with locking diff, fog lights, deep tint, Silver Birch.....
    walked on the Paradise Chev lot in Temecula, Ca. at 09:00; asked the sales guy to give me the same deal Power Chev in Irvine is advertising and save me the drive. His reply: okay.
    sticker price with bed liner $28,616.
    minus $3500 rebate.
    minus $1500 finance rebate
    minus $4000 discount equals offer by Irvine dealer
    so, now I'm at $19616
    I say drop the alarm they just make noise.
    His reply: okay.
    minus about $300
    We take the test drive. I say drop the bed liner and we have a deal.
    His reply: okay.
    minus $299
    equals $9,600 of the MSRP sticker
    So, I'm out the door at $21,500 at 11:00
    Done deal.
    I go home. My neighbor says: Hey, nice truck, I was thinking of getting a new one this weekend too. So, I give him the add and my story.
    He drives up the next day in his new LS 1500 extended cab with deep tinted windows and fog lights all happy with the same deal. So, I say you could have at least got a different color. His reply: But now I have a body parts source close to home.
    So, now I trust my car dealer more than my friendly neighbor. Go figure.
  • texsuntexsun Member Posts: 23
    I've posted this somewhere before, but will post again so you don't have to search. I'm in the 'Meet the Owners' if you want to check the specs on my truck. I pull a 26' Trail-Lite 7260 travel trailer, 4400 lbs empty, near 6000 lbs when loaded down. Most times I don't even notice it is back there unless I'm pulling up a steep grade. I use the 'Tow Haul', which brings my gas mileage down, but I've never got less than 9 MPG with a head wind and hills. My avg is 11 MPG when pulling the camper. The suspension can definitely handle the load and I believe the drive train can too. Currently at 63,000 miles and running strong.

    Can't give any advice on the Ford, never owned one.

    Hope that helps. Bud
  • adscurryadscurry Member Posts: 5
    I understand to get the extra $1,500 rebate or $5,000 in total I have to finance with GMAC. Dealer told me that it is 7.99% and not simple interest -- may be a rule of 78's -- interest computation that will mean all of the early payments are applied to interest. If the loan is paid off in less than 5 years the effective interest rate can be sky high. What is the min. loan a dealer or GMAC will except to get the extra $1,500 on the 2004 Silverados. Why not just finance some very small amount. Any experiences on these issues is appreciated.
  • jerrymcshane1jerrymcshane1 Member Posts: 195
    I too have been told that the rate was 7.99%. But that I could PAY OFF THE LOAN AT ANY TIME. My brother who's a CPA/LAWYER will look over the contract for me before I make any moves here. My dealer told me that there is NO premature payment penalty.
  • adscurryadscurry Member Posts: 5
    The note probably will not call it a prepayment penalty. It is a method of payment application where all of your early payments (I calculate first 10 months if rule of 78 is used) goes to interest. Under Rule of 78 all interest on the note is paid back in the first year. Effective interest rate if paid off after month one is 40% and 20% if paid off at the end of the first year. If kept longer rate reduces gradually to the 7.99 at the end of the 60 months. I would be interested in your feedback from the CPA/Attorney on what the note itself says and what can be enforced from a legal standpoint. Local dealers are saying you cannot pay off until after the 3rd payment. (They get part of the interest too I believe) Note may not say this.
  • rheilingrheiling Member Posts: 7
    I purchased last Friday a new 2004 Chevrolet Silverado Crew Cab LS for $16,415 + TT&L (sticker price before TX/OK/LA truck discount was $31,590).

    A dealer here in Houston was advertising the 2004 Silverado Crew Cabs (4 only) for $19,977. The total GM to dealer rebate to get to that price was $6,000 which required me to finance through GMAC.

    I had additional rebates/discounts of:
    $1,562 in GM credit card earnings.
    GM also gave me $1,000 in credit card bonus earnings for purchase & delivery between Aug 18 & Sept 30.
    I also had a $1,000 24 test drive certificate.

    My total additional rebates = $3,562, so my total cost was $16,415.00 + TT&L. There were no dealer ad ons to the price.

    I also got stuck with the 7.99% interest rate from GMAC (my current GMAC rate is 6.25%). The finance guy told me there was no prepayment penalty - but when I told him then that I intended to refinance the note if that was the best rate I could get, he got agitated and said I had to make 3 payments or GMAC would tack the $1,500 to the payoff amount. He also asked why I would want to cheat GM on the note. Huh? Said GM uses my interest to help others including those upside down on their loans. I couldn't believe he was arguing with me. My guess is they lose something if I refinance. He also could not give me anything in writing in regards to the 3 payments required to refinance (see lower paragraph).

    My note does say at the top "Motor Vehicle Retail Installment Sale Contract - Simple Finance Charge", so no Rule of 78 in my case.

    I just called GMAC and asked about having to pay back any of the $1,500 rebate if I refinance and the person I talked to said no, there would be no rebate to repay. Maybe someone else can also call and see what they say. My bank will finance 60 mo @ 5.9%, so in my case that makes a $14/mo savings or over $800 over the life of the loan. Sorry, finance guy.

    This truck will replace my 2002 Chev Silverado LS Ext Cab that I've been very happy with. Hopefully my 2004 will be similar.
  • jerrymcshane1jerrymcshane1 Member Posts: 195
    I will pass along any info I have gotten regarding this $1500 financing plan this weekend. For my brother lives on the other side of the country and they just had twins Wednesday. I tried to contact GMAC but they would NOT give me a DEFINITIVE yes/no answer to my premature payoff question. The dealer keeps telling me (but will not put it in writing) that one can pay off the loan prematurely. I think the SLEAZINESS of this whole plan is enough to TURN OFF a a lot of potential buyers. But GM and Ford are STUCK with an inordinate amount of 04's still so maybe just maybe we consumers here will "win out" here for once.
  • silverado1silverado1 Member Posts: 10
    the 1000 dollars is a coupon that is mailed to you if you have a GM credit card. the incentive is paid if you buy a vehicle at this time.
  • silverado1silverado1 Member Posts: 10
    I owned a 02 silverado 1500 w/5.3 liter. mileage on that was about 13 around town but improved to 20 on road. it had a 3.73 rear that read 2000 rpm at 70 mph. i traded it on an 04 2500HD and the mileage is about 11.7. i noticed that the rpm's are significantly higher, (about a 1000), at 60mph and higher. the reason, i believe, besides, the obvious (6 liter eng. & increased truck weight) is the 4.10 rear. Is it possible to swap out the 4.10 gears for the 3.73 gears to improve the gas mileage. i am willing to have it done if possible. any thoughts anyone? thanks.
  • adscurryadscurry Member Posts: 5
    The most open dealer I have dealt with told me to forget the $1,500 GMAC rebate and go to the Credit Union for a loan. He said the rate is 7.99% and not simple interest. Beware of differences in terms -- "simple finance charge" may not mean simple interest amortization rules. My research found that Federal Law precludes use of the rule of 78's on loans OVER 60 months long. How long is your loan? Three payments at the price of these vehicles will give GMAC their $1,500 back in the up-front collection of interest. Even one payment will recover a large part of the $1,500 rebate if applied to interest. GMAC may be establishing negative amortization with the amount you owe actually increasing in the early months over what you borrowed even thought you are making monthly payments. That may be the reason the dealer said GMAC claims back part of the rebate. You try to pay it back and owe more than you borrowed. Consumers should ask for a loan amortization schedule similar to what lenders give for mortgages. I bet they will not give you one. Please share your pay-off experiences.
  • rheilingrheiling Member Posts: 7
    I don't believe that "negative amortization" will occur under any case if payments are made timely. That only happens when a payment is missed and the lender adds the missing interest that should have been paid to the principal balance. That would be negative amortization.

    The total interest paid under simple interest or Rule of 78's is the same. Rule of 78's simply calculates more of the interest in the front part of the loan so that if you pay the loan off early the payoff is higher then if using simple interest. It does not create negative amortization. If a person ends up making all of the loan payments it doesn't matter how the interest is calculated.

    Nothing I signed indicated an interest calculation other then simple interest and it says "You may prepay all or part of the unpaid part of the Amount Financed at any time without penalty." The GMAC person I spoke to also stated the same.

    I plan to make my first payment to GMAC and have my bank refinance the note at that time. If the result is anything other then what I expect I will raise my voice loudly. After all, there are Truth In Lending laws. And what I signed says simple interest and no prepayment penalty. I will let this group know of the outcome.
  • adscurryadscurry Member Posts: 5
    I agree. I did a google.com search for Rule of 78's and found some excellent explanations with formulas and amortization tables. There is extra interest in the early payments so the effective rate is well over 7.99% if you pay off early--just not as bad as I had originally thought--no negative amortization. My web search also said that these loans will generally not state "Rule of 78's" but may refer to a "rebate of interest if paid off early." Rebate only in the concept that somehow they charge you less than the full interest the note would have accrued in its entire life to maturity. How misleading is it to call this a rebate of interest which sounds like a good thing? Also, many states have consumer laws that prevent use of the rule of 78's so there may be different variations of the notes depending on the state in which the loan is made. One of the Rule of 78's sites shows states that preclude use of this rule. When you get a payoff you can plug the numbers in an amortization table to confirm if this rule was used and is allowed in your state.
  • workingmanworkingman Member Posts: 14

    I am interested in a new truck, possibly a Silverado. Did you get the $1000 24 hour test drive incentive because you did the Test Drive and did NOT buy at that time or did you just happen to get it in the mail?

    Also, regarding the $1000 GM credit card incentive - do you have the GM Gold Card or the GM Blue card or what? What card is providing the $1000 incentive?

  • balichbalich Member Posts: 62
    All '04 Silverado's have 5k rebates .. unbelievable .. even the '05 are high.

    GM is one hurting car company if they need
    incentives this high on '04 and '05's to
    move the iron.
  • rheilingrheiling Member Posts: 7
    I previously had purchased a 2002 Silverado and applied a GM Card rebate on it. After that I would receive various additional incentives in the mail.

    The $1,000 24 hour test drive was a certificate they sent me in the mail. Also I did not have to do the test drive, just present the dealer with the certificate at time of purchase.

    Not sure which GM card I have, my GM card has no annual limit on how much rebate I can accrue in one year, but does have a limit on how much can be applied to a particular vehicle. I was again mailed a promotion from GM adding $500 or $1,000 on a purchase and delivery between Aug 18 & Sept 30th depending on vehicle.

    A note: Make sure that if you are going to purchase a GM vehicle and apply a GM card rebate that you check with GM and see if you've been given a bonus rebate amount, it's possible a mailing may not have gotten to you and if you don't know about it don't count on the dealer to let you know (meaning they may keep the bonus amount themselves).
  • bradg49bradg49 Member Posts: 3
    Hello all... I just wanted to share my experience with purchasing a new Silverado. Just purchased Sep. 7.

    I used the GMAC financing in order to get the rebate and the rate that I received was 7.75. The contract does state that "in the event of early payoff, some of the interest may be refunded." I guess I do have a rule of 78 contract. After learning this, I contacted GMAC to find out about refinancing. They have not received my information yet, but I asked if there was any minimum length I was required to keep the contract. The lady told me that there was a six month requirement. I replied that I didn't see it anywhere on the contract and asked her to point it out to me. She then puts me on hold for a couple of minutes. She comes back and says that her supervisor told her that there is no minimum contract length.

    I am happy with my purchase and the dealership, but the GMAC financing seems to be kind of shady. I wish I would have read these boards before signing that financing contract, however I plan on refinancing asap.

    $25477.31 (Stated Invoice) + $300 + $159 DOC Fee + $350 (spray in bedliner) + Tax = Total: $27863 - $5000 rebates - $750 military discount - GM Card Earnings $723 - $1000 bonus earnings (received in the mail) + title, and some other $3 fee = $20410 total financed (no down payment)

    2wd ext. cab LS (4.8L), two-tone paint (black and silver), steering wheel mounted radio controls, spray in bedliner, spare tire lock, cd & cass., Fog lights, high capacity air cleaner, 16" aluminum wheels, white letter tires
  • wildmanwildman Member Posts: 2
    Here's the info - 2004 Silverado 1500 Crew Cab Z71 with MSRP of 36,260 (which includes $915 in options). After negotiating and applying all rebates, the selling price of the truck was 25,819. Add back the cost of tax, tag, doc fee, title, and delivery charge for finding/getting truck from dealer 295 miles away = $27,033 total. I told one of my coworkers about the deal and it made him sick! He told me that he paid $1500 more for a Z71 extended cab(third door) in 2000, and his doesn't even have as many options as mine in the Crew Cab! The dealer found the exact truck I wanted, with nothing more or less, which was real important to me. I'm glad I waited and found this one.
  • duff333duff333 Member Posts: 41
    Good morning. Last week I purchased a standard 4X4 work truck with the 4.8L and hitch package. MSRP was $24,727 - -I got the $5K rebate + $1K coupon from dealer + $2K on my GM card + $1K coupon I received in mail. Paid $22,900 for the truck with doc fees - $9K rebates,etc. = $13,900 + ttl = $15,200. This was $2K less than my 2000 work truck and that truck was a manual!

    Like WILDMAN above I'm glad I waited - -almost pulled the trigger 3 months ago and then the truck would have been $3K more.
  • jerrymcshane1jerrymcshane1 Member Posts: 195
    You stated that the dealer found your exact truck. You mean color as well as options? What color did you get and could you explain in detail how you got 30% off a new truck. Best I could do was $28,500 on a similar priced Silverado.
  • natitnatit Member Posts: 5
    aug 28 bought dark grey ext cab z71 msrp 34705 5.3 v-8 pwr everything,bucketseats, xm radio,
    onstar,bose system paid 24495 plus got $200 free
    gas doc fee was 299 plus tax and title i was charged no other fees i used gmac financing got 6.99 was told by finance manager i can pay loan off at any time with no penalty also states that in the "fine print" my credit union has 4.0 apr so i plan on making 1 payment then refinancing i bought this truck in portland maine, there is a law i believe in this state, rule of 78 can not be used on any auto loan 60 months less or more
    every state is different easy to find info about your state online oh yeah i love my tuck test drove everything no better value,no first year problems, third chevy truck i have owned every one was basicly trouble free
  • 96ck15096ck150 Member Posts: 1
    Yes, you can, and I recommend it. I had the same configuration as you on a '96 1500, and went to a higher ratio (lower numerical rating),significantly reducing fuel consumption. You will pay for this in low-end performance, but if you are not requiring this, you will definitely save expensive fuel on the road.
  • wildmanwildman Member Posts: 2
    Yes - He found exactly what I wanted - Dark Metallic Green Crew Cab Z71 with tubular assist steps, HD towing package, and six way power driver seat. The dealer claimed he was running a local special selling trucks at 500 below invoice (I don't know if this is right, but the bottom line sure sounded good to me). $31,819 minus 4500 for rebate and another 1500 for using gmac financing brought the price to 25819. Add back the taxes, doc, tag, title, out of state deilivery fee, and it goes for $27033 total out the door. I just couldn't turn it down!
  • bwwbbwwb Member Posts: 1
    chevy and maybe all of GM will be offering 0% for 72 months on all 2004 vehicles PLUS all cash incentives from 9/27-9/30

    it's on pretty good authority. I couldn't believe the incentives part - but my contact stands by it
  • balichbalich Member Posts: 62
    re .-1

    That is not true .. if you take the 0% you DO NOT
    GET THE REBATE AS WELL. One or the other only.

    Go to GM.COM to verify ..

    If that was the case 0% and 5k in rebates .. that would be too good to be true.
  • adscurryadscurry Member Posts: 5
    Last week, before the new 0% financing offer, I purchased a loaded Z71 with a MSRP of 35,500 for $25,700 plus processing fee. This was $1,000 under invoice less $5,000 in incentives. Dealer tried unsuccessfully to add back freight to invoice but it was already in the invoice. Dealer said they could do the deal because this truck entitled them to the 3% holdback. They really pay invoice less 3% less other incentives that we will never figure out. I took a $5,000 GMAC finance (min. allowed) to get the full $5,000 in rebates @ 9.25% for 2 years. I plan to pay off ASAP. Appears to be a simple interest loan. I think the money maker in this loan was the high interest rate. Dealer was loaded with these trucks. Ultimately, supply and demand is the greatest factor in final pricing.
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