Rebates, Incentives, APRs - Questions & Comments

bigbutr · August 2004

Sorry about that.
I just went and looked at a 2004 S60 2.4 with the premium package and I believe that's it. It stickered for just over $32,000.
Did some rough estimates on a lease - was told with $1,400 down and a 39-month, 45,000 mile deal would run around $476 before taxes. Said could get it down into the $435-450 range with more down.
Asked about whether residual would be affected by the fact Volvo is discontinuing the 2.4 model next year and was told it didn't since they are still building them. Not sure, though, but if they inflate the residual and I just turn it in at the end of the lease, I would be OK. Only problem if I trade it for something else.
I hate the great deals are only really there if you buy one, and that may end up affecting the decision to go with an Accord V6 instead, but we'll see.
Thanks again,

Steve

wheeler8 · August 2004

Do you know what the rebate and dealer cash will be like on 2004 and 2005 impreza wagons for August. Also are they doing any special lease deals?

CarMan@Edmunds · August 2004

No problem, Steve. If you lease a 2004 Volvo S60 2.4 with the premium package through an independent bank, it would be eligible for $2,000 dealer cash and you would get the premium package for free. If you were to lease one through Volvo Finance, you would be eligible for an incredibly low money factor of .00005, which is equivalent to around 0.12% interest! In terms of the incentives that are available on this car, you really can't go wrong if you lease or buy.

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CarMan@Edmunds · August 2004

Hi wheeler8. Subaru's July incentives were scheduled to run through the end of yesterday, August 2nd. I have not seen whet its new August program is like yet, but should be able to find out within the next couple of days. Please feel free to post a reminder for me in this discussion late this week and I will be more than happy to fill you in on what I have been able to find out.

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bigbutr · August 2004

So as long as I lease the car through a finance company other than VFNA, I'm eligible for both the dealer cash and free premium package? In an earlier reply you mentioned that you couldn't get the premium package for free if you leased.
I just want to clarify this since the finance guy there told me I couldn't get the premium package discount, but that could of been since he was looking at using VFNA.
Thanks again,

Steve

starbird · August 2004

Hi,
Over the weekend I popped into a Saab dealer and he said that if I used an outside finance company, I could get $3000 cash back towards the cost of the car (a benefit from Saab). If I wanted to take advantage of the 0% finance then I would have to pay full price on the car. However, when you go to Saab's web site, there's nothing on the 0% page that says that you can't get the cash back with such a deal (the language is along the lines of, the final price is set by the dealer). So who is right? What's the best price I can pay for a Saab? With an automatic (which is the only major option I want) the best price I got from a dealer is $25,300 (inc the cash back). According to Carsdirect.com I could get another $1000 off this price. Any advice? The best finance rate I've found for 60 months is 4.25%. Should I take the cash, go with 0%, or would it be cheaper to lease for three years and buy the car at the end of the lease?

Sylvia · August 2004

If you bought a vehicle in June, or if you considered it but decided to wait and see if incentives get more generous, a reporter wants to talk with you. Please contact jfallon@edmunds.com no later than Wednesday, August 4, 2004 with your daytime contact information and a sentence or two about your decision.
Thanks,
Jeannine Fallon
PR Director
Edmunds.com

CarMan@Edmunds · August 2004

Steve, the dealer cash and free Premium Package promotions that I mentioned in my last post can not be combined with Volvo Finance's lease program. However, as far as Volvo is concerned, any lease through a bank other than its captive finance company is the same as a cash purchase. As a result, you would be eligible for both of these programs if you were to lease this car through an independent bank like Chase.

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CarMan@Edmunds · August 2004

Hi starbird. Saab has been providing dealer cash on most of its models lately. This cash can not be combined with its special financing program though. The only way that the car that you are interested in would be eligible for the dealer cash is if you were to pay cash for it or finance it through a bank other than Saab's captive finance company. Having said this, if you take advantage of the 0% financing, you sill don't have to pay full price for this car. Savvy consumers are able to get most Saabs, with the possible exception of the 9-3 convertibles, at right around dealer invoice right now. Sure you would not be able to take advantage of the dealer cash if you finance through Saab, but you wouldn't have to pay full price either.

Saab has some very attractive lease deals available on its models right now. If I was in the market for one at this time, that is probably the direction that I would personally go.

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cooljc74 · August 2004

Does anyone know the details of this particular promotion? Do you know if dealers or salesperson receive an additional commission or incentives from selling 2004 models during the event? So perhaps you could purchase it below the invoice... I wasn't able to find any details other than special APR on the board in general. thanks in advance!

financeguy · August 2004

GM is offering $1000 up to $1500 bonus cash along with 0% financing depending on the 2004 model,the better deal is to take the bonus cash on top of the rebates and finance with GMAC at whatever rate they give you which will be high..dont worry about that...when you get your first bill go to your bank or credit union and refinance...you will probabaly be at a minimum 1 to 2 points lower if not more and will only pay 30 to 45 days of interest to GMAC, but you have to do this to get the bonus cash

CarMan@Edmunds · August 2004

Hi cooljc74. I am familiar with the details of the Lexus Golden Opportunity Sales Event. It basically provides special financing and lease rates on every Lexus models during the month of August. I don't believe that the dealer cash that Lexus is providing this month is much different than the cash that it had available in July though.

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copper · August 2004

Just a reminder for new august #'s and incentives for the XC90. 36/12K

Also, if you don't mind....
The new #'s for Audi 2.7T s-line
24/12K and 36/12K

Thanks as always.
Copper

cooljc74 · August 2004

Thanks for your input Car-man!
I think I will visit a Lexus dealer now.

lariat10 · August 2004

Can you give me the current rebates available on the new style f - 150 supercab and the sport trac and if any ford credit rebates are available on these units.

James

kyfdx · August 2004

Any incentives on the V6 models, Limited or otherwise? For the Lexington, KY area (Cincinnati region?).

Thanks,
kyfdx

Kirstie_H · August 2004

This month, it looks like $750 or 0-2.9% financing on all models in Lex. Not bad, considering there aren't any incentives for my area!

kirstie_h
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CarMan@Edmunds · August 2004

Hey Copper. This really is a question for the Lease Questions discussion, but since we are already talking about it. I have had an opportunity to take a look at Volvo's August lease program. If you were to lease a 2004 XC90 2.5T AWD through Volvo Finance this month for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00235 and 56%, respectively. Audi's Aug. program came out a few days after everyone elses' did, so I am going to need you to check back with me for that info.

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CarMan@Edmunds · August 2004

You're very welcome, cooljc74. Please let me know if you have any other questions.

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CarMan@Edmunds · August 2004

You're in luck, James. Ford just enhanced its incentives on the 2004 F-150 again yesterday. The full-size pickup segment is very competitive right now, which is great for consumers. It is now providing $3,000 customer cash on the 2004 F-150 SuperCab in most areas. An interesting aspect of Ford's incentives on this truck right now is that is also is providing $1,500 bonus cash on F-Series light duty models that are financed or leased through Ford Credit. If I am not mistaken, if you finance the truck that you are interested in through Ford Credit, using its standard interest rates, you can combine the two aforementioned offers for a total cash allowance of $4,500! If this is indeed the case, in a month or two you could refinance your Ford Credit loan through a different bank at a lower rate or pay off your note completely and just pocket the additional money.

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CarMan@Edmunds · August 2004

Kirstie is absolutely correct, kyfdx, (thanks Kirstie

). In Toyota's Cincinnati region, it is currently providing $750 customer cash or 0.0% financing for up to 3 years, 1.9% for 4 years, and 2.9% for 5 years on all 2004 Highlander models.

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copper · August 2004

Thanks Carman.
I was more concerned about the rebates and incentives for an xc90 lease. Have they changes since July? Thanks!

Copper

kyfdx · August 2004

Thanks Kirstie and Car_man!! My uncle is shopping, and may trade in his RX300. Once again, you guys are the best!

regards,
kyfdx

oldcorvettefan · August 2004

Does anyone know what the GMAC rate is for financing a car purchase?

We're contemplating a 2004 Malibu Maxx. If I obtain my own financing, I can get 4.05% and a $3500 rebate. However, if I finance through GMAC and the dealer, then I can get a $5000 rebate.

If you happen to know estimated rates for someone with A or A+ credit, I would appreciate it.

Thanks,
Steven

CarMan@Edmunds · August 2004

You're welcome, Copper. Volvo's cash incentives on the 2004 XC90 are the same in August as they were in July. It is still offering free Versatility Packages on all '04 XC90s and $1,500 dealer cash on 5-Passenger models. The main change for August is that its financing program on this model went from 3.9% for 5 years to 4.9%.

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CarMan@Edmunds · August 2004

No problem, kyfdx.

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CarMan@Edmunds · August 2004

I am not sure what GMAC's standard financing rate is at this time. It is usually worse than the rate that one can get on vehicles by going through an independent bank though. Of course, the GMAC bonus cash that General Motors is offering right now definitely makes financing through its captive finance company attractive. If the rate is fairly high, you can always finance through them for a month or two and then refinance through a local bank at a more reasonable rate.

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scott31 · August 2004

Carman,

What is the current American Honda Fin Corp rate for a 5 yr loan on a Honda Pilot EX w/leather (no nav) in the Washington DC Metro area?

If the dealer pads the rate, and you pay off the loan immediately (say get a home equity loan or such) do they lose their $$$ or is that something that AHFC eats?

Thanks!

CarMan@Edmunds · August 2004

Hi scott31. Honda is not currently providing any special financing rates on the 2004 Honda Pilot. So if you were to finance one through American Honda Finance Corp., you would have to use its standard rates. I am not sure exactly what its standard finance rates are like right now, but I suspect that you would be able to beat AHFC's standard financing rates fairly easily by going through an independent bank. If the dealer that you are working with marks up a banks's rate and you refinance your loan soon, they will usually be charged back whatever money they made, or at least a good portion of it. If you really want to finance this truck, get pre-approved to do so through a local bank, or one that conducts business on-line prior to entering into any negotiations. Doing so serves two purposes. First, it gives you a good idea of what sort of rate you qualify for. Secondly, it often motivates the dealer that you get your vehicle from to try to beat the rate that you have already been quoted.

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douginma · August 2004

Hi,

We're looking for a '04 V70 base (only option we want is auto) and it seems that they're giving away the prem package for free. It doesn't light our fire, but we'll take it.

I thought I read some where (carsdirect maybe?) that there's $3k in manu to dealr cash available, but I don't see it listed on Edmunds.

Do you know how much (if any) cash is available? And also I recall this time last year they bumped it up to $4K to get rid of the remaining '03s. What's your gut telling you (other than it's lunchtime!!) re: the 04s this year??? Do you think they'll do the same??

djsway · August 2004

I'm planning to buy a 2004 325ci for about 32k I hope. They have the 2.9% finance incentive at this moment. Is this finance rate for people with super good credit? Also, I already have a car loan with my bank, is it safe to go with BMW financing? Any space for negotiation on financing the car? Thnx!

Sway

CarMan@Edmunds · August 2004

Hi douginma. Volvo does indeed have $3,000 dealer cash on the base 2004 V70 right now. In addition to this dealer cash, Volvo is providing free Premium Packages on the '04 V70 this month, which is worth over $2,000 on most trim levels. Besides the fact that I need to eat again

, my gut is telling me that there definitely is a decent chance that Volvo will increase its dealer cash on the '04 V70 in September. You are right that its dealer cash was much higher at this point last year when it was trying to help dealers unload leftover '03s. I highly doubt that its current incentives will just disappear so you really don't have much to lose by waiting as long as there is a decent supply of the option and color combination that you are interested in.

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CarMan@Edmunds · August 2004

Hi Sway. A little known fact is that BMW is actually providing 1.9% financing for up to 5 years on the most 2004 3-Series models this month, but BMW dealers have sort of a gentleman's agreement to only advertise 2.9% and mark-up the base rate by 1% to add additional profit to deals. If you shop around, you should not have much trouble financing a dealer that is willing to give you the 1.9% rate. I am not exactly sure which of BMW Financial Services' credit tiers you have to qualify for to get this special rate, but you can probably get it if you qualify for its "Standard" Tier. In order to do so you need a credit tier of 650 or higher. There's no catch to this special rate. If you qualify for it, you definitely should use it.

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djsway · August 2004

Wow that's awesome! Thanks Car_man a little goodness in the ugly world of car buying

okclyn · August 2004

Hey, Wondering if anyone could help me with this.
I bought a 2004 Ford Focus on 8/5/04. I got a $3000.00 rebate and another $500.00 for financing with FMCC at the non-incentive rate.
Today they called and said they need to back date my contract because the rebate changed on or before the 5th. I can't find any changes..... whats up??? Can't get a straight answer.

newcar · August 2004

I have received quotes of about $2700 off MSRP for a '04 g35 leather sedan with sunroof rwd. Are there any factory to dealer incentives with the new ad promotion,besides the low rate financing. At the discount that i was offered, i figure i can do the same in about nov/dec with an 05. Also how much should be paid for a 7/100k extended warranty for this car?

focuserror · August 2004

Is this still around?

What is the amount for 2005 Vibes?

aceagent · August 2004

I just signed off on a deal to purchase a 2004 toyota tundra. In coming to my final price the dealership used a 2K cash back mfg offer. I ended up 18% below sticker which I was satisfied with. After doing research I found that Toyota is also offering 0% for 48mos. Can I use both of these or am I being a pig? I cannot find anything on the toyota website that says either or. I am financing the total amount. Which would you do. My math tells me if I must choose to take 0% for 48mos.

Thanks,
Ace

kyfdx · August 2004

Unless it is a very big difference, I always take the cash up front.. If you total or sell/trade your truck before the loan term is up, you lose part of the benefit of the low interest rate.. That money upfront goes right into your pocket.

regards,
kyfdx

CarMan@Edmunds · August 2004

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

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CarMan@Edmunds · August 2004

Hi okclyn. I am not aware of any changes to Ford's incentives on the 2004 Focus, but as long as you triple check that nothing about your deal is changing, there's nothing wrong with going back in to sign another contract, other than the fact that it is very inconvenient for you and relatively unprofessional on the dealer's part.

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CarMan@Edmunds · August 2004

Hey newcar. Infiniti is not providing any sort of dealer cash on the 2004 G35 sedan that I am aware of at this time. Its only incentives on this model are the 1.9% to 2.9% financing that you are already know about and a special lease program. I do not know what Infiniti's extended warranty prices are like on the G35 sedan right now, but I can tell you that the selling prices of extended warranties are negotiable in most states. Furthermore, you do not have to purchase your extended warranty from the dealership that you plan on having your car serviced at. If I was in the market for an extended warranty for this car, I would get a quote on one from the dealer that you are currently working with and then call or e-mail several other dealerships for quotes on similar policies. Once I have received several bids, I would give the dealer that you plan on having your service performed at an opportunity to match your lowest price. All things being equal, it never hurts to buy locally.

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CarMan@Edmunds · August 2004

Focuserror, General Motors is no longer providing conquest cash on most of its models, however the 2004 and 2005 Pontiac Vibe actually still have $1,000 conquest cash available on them. This money can be combined with the $1,000 customer cash that GM is providing on the '05 Vibe.

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CarMan@Edmunds · August 2004

Hi Ace. Toyota's incentives vary depending upon which one of its 12 regions you purchase your vehicle in. Having said this, 99.99% of the time its customer cash incentives can not be combined with its low financing rates. The exact savings that you will realize by financing this truck at 0% for 4 years will depend upon how much money you are financing and the rate that you would be financing at instead of the Toyota's special one, but there is indeed a good chance that you would save more than $2,000 by using the 0% rate assuming that you keep this truck until the end of the loan.

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newcar · August 2004

Thanks car_man...i will wait for the '05 to come out...

keeferb · August 2004

I'm trying to estimate a monthly payment if we decide to buy a new car. When figuring in sales tax(WI), do I apply the tax before or after the applicable rebates and/or trade equity have been deducted?

Thanks in advance.

stubborn1 · August 2004

Since I'm a WI resident I can answer this one -

The taxable amount is equal to sales price less trade in allowance. Your rebate is then deducted after the sales tax is calculated. Therefore, you are paying tax on the rebate.

focuserror · August 2004

Thanks for the info.

Every little bit helps.

focuserror

CarMan@Edmunds · August 2004

You're welcome, Ace.

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CarMan@Edmunds · August 2004

No problem, newcar.

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Rebates, Incentives, APRs - Questions & Comments

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