Rebates, Incentives, APRs - Questions & Comments

nils2 · March 2005

Hi, I suspect there is a secret factory to dealer incentive of approximately $1000 on '05 Toyota
Camry. Carmax new car toyota dealerships are selling camrys at $200 to $700 over exact dealer wholesale, including destination charge, holdback, and customer rebate. Can carman or anyone else confirm or comment? Thank you

cadillacmike · March 2005

I had a rental 2004 or 05 mitubishiti eclipse convertible while in DC recently (and it was too cold to drop the top)

That car was the worst PoS i had driven in the last 10 years, turning cuircle was awful, seating poor, unfriendly cntrols.

Even the desert rats I drove around in during 2003 were "better rides"

You want a nice converible, look at a Miata, you can get the LS with leather seats and Bose audio for around the same as an eclipse and they have 48,000 mile warranties (and don't break either - I had a 2001 LS) You're not married - that's been made clear, the Miata has a small but usuable trunk, and it's a great car.

e9345 · March 2005

I am pretty close to finishing up a deal on an 05 honda crv lx. Considering it is so close to the end of the month, so I wait until apr 1st to see if any new rebates/incentives come out then? Do u expect any?

lhess · March 2005

Hey, posted earlier about incents on the 2004 mazda rx8 and have since bought one. I'm in West Virginia and i got the $1500 dealer rebate and the $2,500 rebate for financing through mazda amer credit. Here's my question: what happens if i can find a cheaper apr and refinance the car (in regard to the 2500 for the MAC finance)? is there a time limit to keeping this loan with them? May not be able to help me here but I can see nothing concerning this on my loan papers from the dealer!!

kyfdx · March 2005

audia8q, who is a Mazda dealer that frequents these boards, says that after 90 days you are home free to re-finance...

sjeed · March 2005

Car_man:

You helped me out on the leasing forum. Thank you. Are you aware of any customer rebates or dealer incentives available for Mercedes-Benz, more specifically the new 2006 E350, in the SF Bay Area?

Appreciate your help.

lhess · March 2005

kyfdx...thanks for the post. i was planning to wait about 3 to 6 months before I started shopping (who knows what rates will be by then!!). thanks again!!!!!!

stanwict · March 2005

>Also, does anyone know anything about Maryland >charging $750. a year to vehicles over 6,000 lbs >because they cause wear and tear on roadways and >pollution?

I believe this only applies to passenger vehicles over 6K lbs. I don't think they want to tax "the working man" who generally has a truck.

phili · March 2005

I'm also curious about this. I've been researching the prices on CarMax in Chicago and Kenosha, WI.
Any info appreciated.

Phil

fredvh · March 2005

What exactly is "exact dealer wholesale"?

fishy1 · March 2005

Hi everyone, I am about to take delivery of my car today. I ran a credit check on myself today and noticed that there was no inquiry from the dealer but there was an inquiry made by the lender who was also the manufacturer. Has anyone ever bought a car form a dealer who didn't run a credit check.

I asked the finance manager if the financial terms that we agreed on are final and approved by the lender. She said yes. Of course when I sign the contract I am going make sure that I read the fine print and do not sign anything that has language like subject to approval' etc. Is there anything that I should be concerned about? I want to make sure that they are not going to call me back after I pick up the car and say my interest rate has increased. Thank you

rroyce10 · March 2005

.. **Hi everyone, I am about to take delivery of my car today. I ran a credit check on myself today and noticed that there was no inquiry from the dealer but there was an inquiry made by the lender who was also the manufacturer. Has anyone ever bought a car form a dealer who didn't run a credit check.** ...

I think you just answered your own question .. the dealer loaded the deal and dropped it with manufacturer ...

"Usually" the dealer will drop it with the biggest or the best lender with the best rate .. when the deal starts bouncing back, or the deal gets "conditioned", which means the buyers credit isn't strong enough to carry all of the loan $$, thats when they start looking at the credit - and *especially* if the buyer is taking delivery of the vehicle in the here and now ....... remember, a high Fico score doesn't guarantee anything ................

Terry.

sickntired1 · March 2005

Is it your understanding that this charge of $750 is for SUVs and not Trucks. I am looking at getting an SUV, but if they aren't going to charge for Trucks, then, I may be swayed to the Truck.

CarMan@Edmunds · March 2005

You're welcome sjeed. Sorry for the delay in my response. I have been out of town for a few days. Mercedes-Benz has cash incentives on the 2005 E-Class, but it does not have any on the 2006 E350 at this time. It is providing a little bit of lease money factor support on the '06 E350 though.

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robr2 · March 2005

carman

This is what I've heard - please verify:

1500 on S40/V50
1850 on T5
500 AAA Rebate.

In New England.

leah3 · March 2005

We will be purchasing a Tahoe or Yukon soon.

Is there any word on if the April GM incentives may be better than the incentives expiring 3/31?

We are flexible, can buy now or wait. Just hoping for the best incentives.

Leah

sjeed · March 2005

Car_man: I realize that the leasing topic is handled on another forum, but could you let me know what you mean by "lease money factor support." If you need to "flip" your answer over to the Lease Question forum, I will keep my eyes posted to both forums for your response. Thank you very much, again, for your valuable input and information.

CarMan@Edmunds · March 2005

Hey robr2. You hit the dealer cash right on the nose. Right now Volvo is providing $1,500 dealer cash on the 2005 S40 2.4i and $1,850 dealer cash on 2005 S40 T5 models. I am not sure about the AAA cash though. The aforementioned dealer cash cannot be combined with the 1.9% to 2.9% financing rates or the special lease program that are available on this model.

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CarMan@Edmunds · March 2005

Hello Leah. As you already seem to be aware, General Motors' current incentives on the 2005 Chevrolet Tahoe and GMC Yukon are scheduled to expire on March 31st. It is difficult to predict what manufacturers will do with their future incentives programs with 100% accuracy. GM's dealers don't even know what the April incentives will be like at this point. If I had to make an educated guess, I would say that its offers will be at least as generous in April as they are now, but again there is no guarantee that this will be the case. If you would like, please feel free to check back with me on April Fool's Day to see what GM's new incentive program is like. I promise not to pull your leg about it. Talk to you then.

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CarMan@Edmunds · March 2005

You're right, sjeed, this is probably a more appropriate discussion for the lease questions discussion, but since that discussion is so crowded, I will quickly answer your question here. Lease money factor support means that Mercedes-Benz is reducing the interest rate that it is providing on leases of car. The interest rate for leases is expressed in the form of a five digit decimal, known as a money factor. One can convert a lease money factor into an equivalent interest rate by multiplying it by 2400. On the 2006 Mercedes-Benz E350W, Mercedes-Benz is supporting its standard lease money factor by .00070. So Mercedes-Benz Credit Corp.'s normal standard lease money factor of .00310 for consumers who qualify for its Tier 1 credit tier would be reduced to .00240 for this particular model. This is equivalent to an interest rate of around 5.76%.

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lex_kolt · March 2005

Car_Man, could you please let me know the incentives on this model, thanks.

coltr · March 2005

Can anyone clarify the total rebates on 05 Tributes. I am going to receive customer rebates of $4000 and the dealer has offered up the $500 manufacture to dealer rebate to me. Is there not still a $1000 manufacture to dealer rebate available? Several dealers advise this is only if the 2.9% financing is used by the customer. Any fast help would be appreciated.

CarMan@Edmunds · March 2005

Hi coltr. Mazda's exact incentives on the 2005 Tribute vary depending upon which one of its regions you are in. While how it is distributed between customer and dealer cash varies, in all of its regions Mazda has a total of $3,000 in cash incentives on this truck right now. There is an additional $1,000 incentive for consumers who finance this truck through Mazda's captive finance company using its standard interest rate. Also, Mazda is providing its dealers that hit certain sales targets with another $500 dealer cash.

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vita · March 2005

i'm back again...

i found a dealer with a leftover '04 Grand Prix GT still on the lot. can anyone let me know what kind of dealer cash, incentives, etc., i can plan into my offer price???

coltr · March 2005

Thanks Car_Man. I got $4000 rebate off the car in the Ohio area. The rebates were $3500 off the price and a $500 car show rebate (probably the dealer $500 cash). I did learn other areas were 4K to buyer but not in my area.

CarMan@Edmunds · March 2005

Welcome back, vita. On January 4th, General Motors paid its dealers $2,500 dealer cash for any remaining 2004 Pontiac Grand Prix models that they had left in stock. Through its "March Madness" program, GM is providing an additional $1,000 bonus cash on any vehicles that have been on dealer lots since October, and an '04 Grand Prix definitely would have been.

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CarMan@Edmunds · March 2005

You're very welcome, coltr. Let me know if you have any other questions.

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hrv · March 2005

Is there state tax (NY) for all the incentives as well as the GM card dollars or are they used to reduce the price and then tax is calculated

heywood1 · March 2005

By all accounts, Cadillac is drowning in inventory-- even new designs like the STS.

My in-laws are interested in replacing their '02 DHS with a new one. I've told them that given Cadillac's (and GM's) current woes, they should shoot for $10K under MSRP for an '05 Deville DHS.

The 'new' DeVille (renamed DTS) for '06 seems to be only a mildly re-worked version of the current model. I've recommended to them that they wait until later in the year, as deals and incentives on the '05 will only get better. The new Escalade-esque front end sheet metal of the '06 is unimportant to them.

Thoughts on current and future Caddy incentives?

fiddlinmargo · April 2005

Hi, I am interested in leasing a Subaru Forester. I went to test drive one yesterday and liked it. The deal was no money down, 249/month for 48 months. They told me that the particular deal was ending as of last night. Needless to say, I didn't get the car. I want to know what the deal is now and if there are any rebates or incentives that are new or if that deal is going to be extended.
Thanks

bcorwin · April 2005

Any clue what the new GMC April Incentive are?

khelger · April 2005

Delayed my next lease on a GM vehicle until April 11th, 2005 when it expires.
Hoping incentives/rebates will be better. Did I make a mistake in waiting?

jpk257 · April 2005

Hi Car_Man,

I ordered a wrangler last month and expect to take delivery in a couple weeks. Do you know what the April incentives will be? I saw the March $1750 was extended until April 4th, but am curious to know what will be in place later in the month.

Thanks,
Jeff

CarMan@Edmunds · April 2005

Hi hrv. Even though the methods for calculating sales tax on vehicles vary from state to state, generally speaking customer cash incentives are taxable and dealer cash incentives are not. The theory behind this is that dealer cash is a manufacturers' price adjustment rather than cash that is being given to the consumer. So the two items that you specifically mentioned, GM card points and bonus cash, would not be deducted from your vehicle's selling price until after tax was calculated.

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CarMan@Edmunds · April 2005

Hello heywood1. General Motors' March incentives program is scheduled to run through Monday. That program provides $4,000 dealer cash on the 2005 Cadillac DeVille plus an additional $1,000 bonus on models that have been in dealer inventory since October. In certain areas, GM is providing another $1,000 to $1,500 bonus cash on this model. The exact discount from MSRP that your parents can expect will vary from vehicle to vehicle. If I was in the market for this car right now, I would look up its dealer invoice price here at Edmunds.com, in the New Vehicle Pricing section of this site, add $500 or so to it, and then deduct any available cash incentives.

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CarMan@Edmunds · April 2005

Greetings fiddlinmargo. This sounds like an excellent question for the following discussion: "Lease Questions - Ask Here". I would be more than happy to answer any questions that you have about leasing a Subaru Forester in that section of this site. See you there.

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CarMan@Edmunds · April 2005

Bcorwin, General Motors extended its March incentives that were originally scheduled to run through the 31st through April 4th. I have not heard what its new incentives will be like yet. Check back with me in a few days with the exact model that you are interested in and where you live and I would be more than happy to give you an idea of what GM's new incentives on it are like.

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CarMan@Edmunds · April 2005

Hi khelger. I don't necessarily think that you made a mistake by waiting to lease your new vehicle. Generally speaking, manufacturers' incentives on vehicles increase as the model year progresses. Of course there's no guarantee that GM's April incentives will be better than or even as good as its March program, but I personally don't see them cutting their offers. Check back with me in a few days with the exact model that you are interested in and where you live and I would be more than happy to give you an idea of what GM's new incentives on it are like.

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CarMan@Edmunds · April 2005

Hi Jeff. DaimlerChrysler's March incentives on the 2005 Jeep Wrangler are scheduled to run through April 4th. As a result, I do not know what its new April program is like yet. 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 truck's new program. Talk to you then.

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sxg · April 2005

Does anyone have any information on April incentives
for leasing the S60R through Volvo Finance or through
other financing companies, like Chase?

Thanks.

telephony · April 2005

Has Nissan published their incentives for April???

Thanks!

sjacobson81 · April 2005

Hi CarMan! It looks like Ford's new May Expedition incentives are DOWN from $3K rebate / $1.5K bonus to a straight $2,500! Ouch, must be selling a bunch of Expy's now...

So, I'm shopping for a 2005 GMC Yukon now! Edmunds & GM's website say there is $5000 rebate on the '05 Yukon, or $1K / reduced financing. BUT, two different dealers today contradicted each other - one said that the $5K was ONLY available with GMAC financing, and the other said the $5K is a factory rebate and can be used with ANY financing, including cash.

Do you know the real story, CarMan? Thanks in advance for all your help!

CarMan@Edmunds · April 2005

Hi sxg. I believe that Volvo was supposed to publish its April incentive program today, but I have not seen it yet. Please feel free to check back with me in a few days and I will be more than happy to try to give you an idea of what the incentives are like on the car that you are interested in. Talk to you soon.

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CarMan@Edmunds · April 2005

Yes, telephony, Nissan has published its April incentive program. I suspect that you are interested in a 2005 Pathfinder. The only promotion that Nissan is providing on this truck right now is a little lease support.

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CarMan@Edmunds · April 2005

Hey sjacobson8. In April, Ford is actually providing $2,500 customer cash and an additional $1,000 bonus for financing or leasing through Ford Credit on the 2005 Expedition. In lieu of all other offers, it is also offering 0% financing for up to 5 years.

As far as the 2005 GMC Yukon goes, in April General Motors is providing $3,000 to $4,000 (the exact amount varies depending upon which one of GM's regions you are in) customer cash plus an additional $1,000 "Hot Button" (the strange name for GM's new marketing campaign) bonus, for a total of $4,000 to $5,000 on it.

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sjacobson81 · April 2005

Thank you so much. So, the "Hot Button" cash is ONLY for GMAC financing, then? Couldn't find that detail anywhere...

Thanks!

jpk257 · April 2005

Hi Car_Man,

Any update on the April incentives for a 2005 Wrangler?

Thanks,

Jeff

khelger · April 2005

Carman,

I am interested in leasing a GMC Buick Rendezvous CXL Plus with a 3.46 V6 MFI HO engine. This vehicle VIN # is 3G5DA03E55S551540. I hope it is OK to give
that information to you. I am searching for similar vehicles at nearby dealerships
as when I test drove the vehicle listed which had a bright orange sign indicating a sale price of $28,995.00, I determined my monthly 3 year 36,000 mile lease using
no down payment and my 1139.00 in GM cash available on my GM credit card
towards my next vehicle. The MSRP is $36,545.00

I was told by the dealership that the price on the bright beautiful orange sign was
good towards the purchase only. Rebates on my vehicle included only 1500 and
750.

The following day when I researched a Ford explorer on line to get some pricing
I was given an E-price. When I called to see if the E price would be different
on leasing vs purchasing I was told no--the price would be the same.

I want to make sure I am not being taken for a ride. My current 3 year lease
will end on Monday, April 11th so my time is quickly running out. I thought
selecting a new vehicle would be fun----I was wrong. I am very stressed at this
point.

Why doesn't the GM financing calculator at the GM web site indicate that the rebates and incentives are different when trying to calculate and compare leasing to purchasing and find my estimated payments. The dealership told me not to rely on that information for calculating my payments. If I am planning to lease again thru GMAC, why are the payments calculated not accurate at their very own web site?

Kathy
for purchasing and leasing?

CarMan@Edmunds · April 2005

You're welcome, sjacobson81. If I'm not mistaken, the "Hot Button" cash is compatible with all offers, not just deals that are through GMAC.

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CarMan@Edmunds · April 2005

Hey Jeff. In April, DaimlerChrysler is providing $750 customer cash plus an additional $1,000 for vehicles that are financed or leased through Chrysler Financial on the 2005 Jeep Wrangler.

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Rebates, Incentives, APRs - Questions & Comments

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