Rebates, Incentives, APRs - Questions & Comments

scottcar · March 2002

Be careful of the 0% financing. Last time I was looking at this they wanted a credit score of 750. Now Isuzu has 0% financing for "well qualified" buyers. It is no longer good enough to be qualified, you must be well qualified. What is that a score of 900? Some people have perfect credit and can get 0% but for most it is just a come on.

93fsu1 · March 2002

Highly doubtful, but maybe there is some dealer incentive out there or something that isn't on any of the web sites. Anyone know?

dtownfb · March 2002

I have a Beacon score of 740 and was told this was excellent credit. So i think 750 probably applies to Isuzu as well. 0% financing is another way to get you in the door. Most people won't qualify for this.

vilainefemme · March 2002

I have an Empirica score of 743 (not sure how that compares to Beacon) and was told the same thing, excellent credit. But when I contacted my credit union for the loan, they didn't give me the lowest rate available (6.25%). When I asked them about it they said that I would need a score of 770+ (highest is 800) to get the lowest rate.

So be wary of those dealer financing deals, most of the time you need completely perfect credit to be applicable. Your best bet is to arrange for outside financing before you contact the dealer and maybe ask them what sort of score you would need to qualify for the special financing. If you want to switch then, go for it. But most of the time the rebates are a better option over the special financing.

vf

1800950chev · March 2002

Currently, there are some great incentives towards the purchase of a new, unused 2002 GM Vehicle. For your reference, please review the purchase incentives listed below:

Several models will offer $1,500 customer cash or the 0.0/2.9/3.9 APR rates. They include: Chevrolet TrailBlazer; Silverado Ext. Cab and Crew Cab; Suburban and Tahoe; GMC Envoy; Sierra Ext. Cab and Crew Cab; Yukon and Yukon XL models; Oldsmobile Bravada and Pontiac Aztek.

$1500 Cash back (Models listed above)

OR

0% APR for 36 mos.
2.9% APR for 48 mos.
3.9% APR for 60 mos.

$2002 Cash back (Most passenger cars, regular cab trucks, vans)

OR

0% APR for 36 mos.
2.9% APR for 48 mos.
3.9% APR for 60 mos

*GMAC financing for qualified buyers. Must take delivery prior to April 1, 2002.

Please check with your local GM Dealer/Retailer, as there might be other promotional items or incentives that you are eligible for. Incentive eligibility is contingent upon your credit approval, geographic residency and our program dates. Ultimate incentive eligibility is confirmed at your local GM Dealer/Retailer directly, as sometimes-specific program rules do apply. Please be advised that incentive and rebate information is subject to change at any time without public notice.

Cadillac, Saturn, SAAB, HUMMER, Chevrolet Corvette, GMC Envoy XL and all 2003 models are excluded.

For further clarification on any incentive, please call anytime between 8am - 11pm, EST, 7 days-a-week, at 1-800-950-CHEV...

pondview · March 2002

I was told your score had to be above 700. My score was above 800 I was told and my wife's a tad under 800. No problem for me getting the 0% for 5 years. Paying your bills when you are supposed to rewards you later in life I guess.

dnldldrch · March 2002

I was told that the dealer gets the rebate back from the Manufacturer. Is this true? If so, when negotiating the price should I only use the MSRP and dealer invoice?

CarMan@Edmunds · March 2002

Dnldldrch, there are two ways that Consumer Cash can be taken into account on a deal. One is that the vehicle's manufacturer will send you a check in the mail for the amount of the incentive. The other, and much more common way, is the cash incentive is taken into account when negotiating the price of your new car or truck and the money goes directly from the manufacturer to the dealership. Make sure to take cash incentives into account when negotiating the price for your car or truck and do not just assume that you will be getting a check in the mail for the cash incentive later on.

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koko164 · March 2002

Anybody hear if the 3.9/60mo finance deal that ends April 1st will be extended? I went to the Toyota sight and couldn't even find the details on the "Spring" event, had to call a dealer for the details. Is there any where on the web with Toyota finance offers and details?

CarMan@Edmunds · April 2002

Hi koko164. Edmunds.com has information on manufacturers' incentives right on this web site. You may use the following link to check this section of the site out: Edmunds.com Incentives Page. Toyota's exact incentives vary by model and region, so it is difficult for me to comment on your specific situation without some additional information. However, I personally believe that if there was 3.9% financing on a Toyota model that you are interested during the month of March it most likely will be continued for the month of April.

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samsvr6 · April 2002

Hi Car_man,
Do you know what is the next round of GM incentives? I think their current $2002 rebate ends today.
Thanks in advance.
Sam

CarMan@Edmunds · April 2002

I haven't heard anything yet, Sam, but I suspect to within the next day or so. Please feel free to check back with me in a then and I will let you know what I have been able to find out.

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koko164 · April 2002

Thanks Carman. I went to the incentives page and didn't see anything listed on the Tacoma. Dealer told me it was 3.9/60mo, ends 4/1/02. They will know on 4/02/02 if it's extended.

samsvr6 · April 2002

Hi Car_man,
Any word on new GM incentives/rebates?

Thanks,
Sam

CarMan@Edmunds · April 2002

Hi Sam. Yes, I have seen General Motors' April incentives program. Although there is slight variation depending upon which model one is specifically talking about, the majority of their vehicles have either $2,002 consumer cash or special financing rates of 0.0% for up to 36 months, 2.9% for 48 months, and 3.9% for 60 months. The main difference between this month's program and March's is that they increased their consumer cash from $1,500 to $2,002 on some of their bigger trucks, like the Suburban / Yukon XL and the Tahoe / Yukon. If you would like, let me know exactly which model(s) you are interested in and I will be able to tell you exactly what sort of promotions GM has available on it this month.

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samsvr6 · April 2002

Thanks Car_man for the quick reaponse.
I am in the market for a 2003 Pontiac Vibe. Do you know if GM has any incentive on it? I know that it is a brand new model so my expectation won't be high for any incentives.

Thanks again,
Sam

jpmack2 · April 2002

CarMan@Edmunds · April 2002

You're welcome, Sam. Unfortunately, your suspicions were correct. General Motors does not have any incentives on the Vibe at this time. This is usually the case with brand new models, especially ones that are being relatively well received.

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wshirley · May 2003

Are the dealers still negotiating below MSRP with the rebates and O% finacing?

CarMan@Edmunds · May 2003

Hi wshirley. The 0.0% special financing that many manufacturers are offering on their products now should have nothing to do with your ability to negotiate an attractive price. We are in a very competitive automotive market right now. Many of the vehicles that have 0.0% financing available on them will actually sell at or fairly close to dealer invoice. The exact price that you are able to negotiate will depend upon what model you are interested in and the amount of competition for your business in your area. As far as cash incentives go, they often are not compatible with the special financing rates that manufacturers are offering. Whether or not they can be combined varies from model to model. If you tell me what vehicle or vehicles you are interested in, I would be more than happy to tell you exactly what incentives are available on it right now, whether or not the cash and special financing offers (assuming that it has both) can be combined, and possibly what you can expect to pay for it price-wise.

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luas · May 2003

My notice from Lincoln came and they will let me out of my lease 8 months early if I lease or buy a new LS. I now have the base 6 cyl car Lincoln LS, and would do it again for the 2003 model. Does any body know how much the holdback is and are their other incentives to the dealer? I have been told that holdback is 2% of MSRP plus a rebate of 2.5% of total invoice to CERTIFIED dealers. I like the 2003 and hear that they are not selling as well as the past models. Lincoln is trying to get sales up. Any comments that will allow me to make a good deal. I'm in So. West Florida

tomcat_mav · June 2003

it's my 1st time leasing a new vehicle. I am considering either 2003-04 Maxima, Acura TL. Ofcourse, I want to get the best deal with my trade-in for '95 Mazda MX3, 75k miles. I should be able to get 3k for it since it has no body damage and little mileage. Question is, I need to know any hidden costs that are usually there. Are there any specials going on? How much should I expect to pay (after taxes, incentives, trade-in, 1st payment, security deposit, etc..)? Is '03 better than '04 with payments? or vice versa? Thanks for your help

CarMan@Edmunds · June 2003

Hi tomcat_mav. I just responded to the identical post that you made in the discussion titled "Ready to Negotiate." Please check there for my response. Thanks.

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99tj1 · July 2003

Can anyone tell me is Nissan Canada is offering any rebate's. For cash customers, thanks

needhelp4 · July 2003

What can I expect to hear from the salesman when we tell him we are paying cash for a new Ford Escape?

Should we negotiate first?

I know there is a rebate of 1,500.00 (OR 0 % financing).

landru2 · July 2003

Are you really paying cash? As in a bag of money? Or are you borrowing the "cash" from your bank?

I ask because people often believe that by saying they'll pay cash a car dealer suddenly becomes hypnotized at the thought of all that dough. Or something like that.

In truth, it's all cash to a dealership whether it comes from you or from your bank. If a car has 0% financing or a rebate of $1500 then all you have to do is figure out which one will save you the most money.

If you are paying real cash, then why wouldn't you negotiate? Unless you are just tired of hauling it around and want to get rid of as much of it as possible. :^)

moparbad · July 2003

I am in military, own a Geo Prizm, and also own a VW Golf. What rebates and incentives can be used together on a new 2003 Cavalier?
$1000 owner loyalty due to owning the Prizm?
$750 military rebate?
$4000 rebate on Cavalier
$500 Conquest rebate since I own the VW?

I was told at one dealership that I could receive all the above and at different Chevy dealership was told that the military and ownership loyalty could not be combined and they were not even aware of the conquest rebate.
I live in IN. Need to get some accurrate info. please!

montanafan · July 2003

Am told the correct answer is $4000 Rebate + $1,000 GM Loyalty Chevrolet-Chevrolet + $500 Conquest Dealer Cash = $5,500 until 7/31/2003. Not all dealers are in the program that get them the $500 conquest dealer cash, the GM 24hr Test Drive Program.

moparbad · July 2003

Thank you for the response. Anyone else?

five0_4tluv · July 2003

is this the way a deal should be approached? i plan to purchase a Tahoe/Yukon next week. thanks

KCRam · July 2003

hi 5-0

Yes, that is always the way to approach a deal. Not doing so leaves you open to the dealer including the rebate in their offer and making it seem like a better deal than it really is.

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jsk2 · July 2003

Could someone please tell me the difference between Ford's A, X and Z Plans??? I understand you still receive all "incentives" if you are able to use one of these plans to purchase a new Ford. Anybody aware of any "pitfalls"? Thanks,jk2

landru2 · July 2003

A is for employees and family.
X is for Ford suppliers.
Z is for retired Ford employees.

You will not do better than A or Z plan pricing. You may be able to do slightly better than X plan on a slow mover. The plan prices are printed on the factory invoice which you will receive a copy of.

lay2 · July 2003

Is there a difference in taking the rebate off the cost of the car before taxes and fees or should it be taken at the end. I had a manager who stated it was better if the Rebate came off in the beginning. For example she was willing to sell the Camry XLE V6 for invoice cost of 26011 and immediately take the $1000 off making the cost 25011 plus taxes Title and fees...What is the difference to me of taking the rebate at the end of the deal as oppose to the beginning.

zueslewis · July 2003

the rebate is taxable in your state. If the dealer is "hiding" the rebate by not showing it on the contract, you may not have to pay tax on it - again, depends on the state.

landru2 · July 2003

The difference is the tax on the rebate. Take it off after and you pay tax on the $1000 rebate. It depends on the tax laws in your area.

jsmitty · August 2003

Carman,
I am trying to get under invoice on a 2003 Ford F-150 truck that is invoiced at 27,900. Currently local dealers in Houston are all at invoice to start negotiations. A loss leader in the paper was $28,860 Sale price - 4870 Dir Disc -$3500 rebate = $20,488). I would like to ask for $3900 below invoice not considering rebates ($24,000).
How far under invoice can I likely get? Do I need to wait til end of August/September?
Lastly, I know a local dealer just out of town has 150 F-150's on the lot and didn't sell 1 last week so the market seems flush with the 2004's coming in.
Your advice please. JS

gsavoie41 · August 2003

is it mandatory that dealerships tell you about current rebates? and, can a dealer legally keep your rebate?

landru2 · August 2003

If a dealer was to keep "your" rebate you would have to sign a form assigning the rebate to the dealer.

CarMan@Edmunds · August 2003

Hi JS. Unfortunately, even with the brand new F-Series for the 2004 model year, I highly doubt that you will be able to purchase a 2003 model for as much below invoices as you mentioned in your post. You shouldn't have any trouble getting one for right around invoice, or even perhaps slightly below it and then having the $3,000 consumer cash that Ford is offering on it deducted from the price. However, it is very very unlikely that any dealer will sell you this truck for thousands of dollars below invoice, pre-consumer cash, without some significant dealer cash or volume bonus programs from Ford, which do not currently exist.

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CarMan@Edmunds · August 2003

Hello gsavoie41. It is definitely in your best interest to do research on the vehicle that you are interested in to make sure that you know about all of the available incentives that its manufacturer is offering. Dealerships definitely do not always tell consumers about cash incentives on models, especially dealer cash incentives. Landru2 is right that in most instances consumers who purchase vehicles that have consumer cash available on them do have to sign some sort of waiver that acknowledges the cash exists, but this sort of agreement often gets buried in the paperwork and goes unnoticed when consumers buy new vehicles. What model are you interested in? Perhaps I can shed a little more light on what sort of incentives are currently available on it.

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thegster · August 2003

I have been shopping for a Dakota and with the (so called) $3K cash back I figured I could finally get my truck. WRONG. The dealers are giving great prices on the trucks, but are absolutely killing me on the trade, 6-7k below the listed average trade in value. One dealer had advertised great prices on the newspaper but on the condition that you MUST trade in a vehicle so I figured something was up. I have researched my car, looked at the price my car is being listed in the papers and have gotten average trade in price from Edmunds, NADA, Black book, and Kelly. Has anyone else experienced this?

thegster · August 2003

I have been shopping for a Dakota and with the (so called) $3K cash back I figured I could finally get my truck. WRONG. The dealers are giving great prices on the trucks, but are absolutely killing me on the trade, 6-7k below the listed average trade in value. One dealer had advertised great prices on the newspaper but on the condition that you MUST trade in a vehicle so I figured something was up. I have researched my car, looked at the price my car is being listed in the papers and have gotten average trade in price from Edmunds, NADA, Black book, and Kelly. Has anyone else experienced this?

masspector · August 2003

It makes sense to me that if the dealer were expecting a rebate they could just lower their price by the amount of the rebate, even in states that tax the rebate. I could understand if the buyer had to wait for the rebate in the mail, that it would be taxed. Plus most dealers advertise the price of the new car with the rebate included, knowing that they are not really selling it to you at that price. That is somewhat deceptive adsvertising to me.

rubyruiz · August 2003

I just bought a highlander which had a $750.00 rebate. I found that the rebate always found its way into the negotiations. I would go to another dealer and they would say, "It will cost you so and so after the rebate."...it would usually be close Edmunds TMV price or around invoice.

So then I would get strong about saying it is my rebate from the manufacturer to me not YOU! It would get dropped in the dealing and I would get closer to the price I was trying to get based on research.

In the end I got overpriced for the car alarm I wanted and feel I need because I live in NYC. Somehow the dealer always found a way to eat the rebate out of your hands...yo-yo the price back up! I should have not bought the alarm from the dealer...but he then would not have given me the price...

In the end the rebate is what got me close to the price I wanted, but it seemed impossible to get the TMV price Edmunds gave and get the rebate taken off of that!

The dealers were always taking it into account and then they try to make it up somewhere else, just like the person above who didn't get the good trade-in.

I even said to a dealer, I will wait 6-8weeks for the manufacturer to send me the rebate...I was so burnt up that they seemed to profit from what the manufacturer offered the consumer, and according to Edmunds the dealer is also getting a rebate for advertising support when you buy the car.

In the end this is how I see it....the rebate gave more bargaining power and helped me get a better price than I would have without it in place, BUT buying a car is a big poker game and somehow the salesman and dealer mange to get the upper hand. I went with the one who played the fewest games and didn't irritate me completely!

I don't think it would help to complain to Toyota about how the dealers treat the consumers of their product....I guess the dealers are the company?!

zueslewis · August 2003

find another dealer, contact their internet guy, and consider selling your trade yourself.

landru2 · August 2003

from listing your car in the paper like the ones you saw in your research?

slov98 · August 2003

when I bought my camry in may the dealer gave me their price minus 500 for the rebate, after I went home and checked the price(after rebate) it was pretty much at invoice, took the offer and I'm happy with it

tblazer503 · August 2003

take the prices in the newspaper's and take about 1000-1500(at least) off for a trade-in value. If there are a bunch of them in the paper, consider that as well, as the market may be "saturated" with that trade type, and the dealer will want to get rid of it if they are going to buy it.

Maybe you should head over to "smart shoppers/real-world trade in values" thread and post your info in there.

lay2 · August 2003

I really connected to what Rubyruiz and massinspector stated in their respective post. The dealer and manufacturer certainly seems to be acting in concert with the deception. It seems as if Toyota knowingly introduce these sales practices in hopes of achieving greater profits and market shares. I am amazed at the salesman jargon of "Profit is not a bad word, do you expect to come in here and rape me". When consumers unite and decide we are not going to buy products from Manufacturers who use deceptive tactics then and only then will this nonsense stop. Toyota really has to Wash the sales gimmicks, get with common sense methods of treating their consumers with respect. The truth is Toyota can do a lot better!

Rebates, Incentives, APRs - Questions & Comments

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