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Some of their cars have had $2000 rebates since December of 2006 (for 2007 models). Is it usual for car companies to just up and stop rebates cold? Or is this a seasonal thing; you know, Spring is here "I gotta have a new car" sales go up and rebates go away?
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Funny how some people think 6.5 is high for a car loan!
2018 430i Gran Coupe
I'm paying 1% on my Armada.
Subaru has 1.9% on their 07 models.
GM has 0%.
-mike
Prime is 8.25% currently so anything in the 6 percent range is great.
I think the best we can do on a 60 month new carloan for someone with stellar credit who is buying a financing over 40,000 dollars and is putting down 20% or more is 5.99%. The bank we work with is also our floorplan bank so they offer equity and luxury discounts that buy down their normal base rate to just under 6%.
If it is not a new car or they don't put more then 20% down or they aren't finacing over 40,000 dollars then you are back in the mid to high 6% range.
-mike
The domestics started this insanity and it has nearly put them out of business. They are on a treadmill they can't escape. These is no free lunch, anywhere!
Cars that are good sellers don't need this!
It was the first model year of a new car.
Early on they had too small of front brakes so they weren't selling too well on the back of that (I knew however a recall was pending that would fix the brake problem)
Gas prices hit a super high level (don't remember how high though)
-mike
These show being good through 7/9/2007, some models have extra bonus cash available through the end of April.
But you gave up cash to get that 1% I would guess.
The conversation we were having had to do with the standard interest rates, not subvened or manufacture backed.
-mike
You are missing the point.
SOMEBODY had to make up the difference between the artifical rate and what the real money rates were at the time.
Cars that are good sellers don't need this"
isell--in general I agree with you, but if you lurk on Edmunds and the manufacturer's websites long enough you can find just about any car including strong sellers being offered with great manufacturer sponsored rates.
Case in point: I was offered 2.9% last month for a Civic SI Sedan (all the Civics were being offered at the same regional rate) and 1.8% on a Mazda3 hatchback. I don't think either car can be considered a poor seller. I'm paying a whopping $250 interest on my Mazda loan. God bless Ford Motor financing--the working man's friend. I am happy to be able to take advantage of a Ford subsidiary while there still is a Ford.
8 years ago I bought a used car that had 10 3/4% interest (for excellent credit). Fortunately, I was only financing $4000/2 years and I still have that great car. I agree 6% is very reasonable although not as good as the 4.5% I had on my previous home loan.
Gogiboy
Craig et al were trying to tell you that 6-6.5% is a normal unsubsidized market rate loan, where the loan underwriter will not lose money.
2018 430i Gran Coupe
Consumers were conditioned to expect low rate loans and/or cash incentives. On top of domestic cash back/0% craze, even the market loans were cheap (down to 4%) due to Fed rate cuts. That party is over, so maintaining low-interest loans means the incentives got higher. Of course, the stickers and invoices magically went up, too. So those manufacturers having successful products have APR incentives, but could have lowered the price with same results (at least on balance sheet). However, conditioned consumer may not believe that and turn to competition - thus everybody is stuck.
I don't believe GM, Ford, or even BMW really want to own those cars they subsidize, but it's current reality and it will be for a while.
2018 430i Gran Coupe
I was reading the fine print on one of those back when I was shopping, and realized that that charge, after all was said and done, added up to a higher interest rate than my credit union offered me.
You read wrong. Try as you might it is what it is. 0% no interest nada, no charges, no service charge. The disclaimer you read is how much it cost to finance per thousand $$'s . For instance 0% on go months means your payment will be $16.67 per $1000 borrowed. The only manufacture I have ever heard of not running a fixed 0% is mitsubisi, but they run those 50 years of no payments crap also.
I thought that mfg. to customer rebates were not a dealer choice item. If Ford, for example, says rebate for your area the dealer can't say "Sorry we don't do that here".
I could see if it was a Mfg. to dealer incentive but I checked Edmunds and the car this fellow mentioned had only mfg. to customer rebates.
I have sometimes seen on Mfg. websites rebates mentioned with a "contact dealer for details" statement. Does this mean the dealer can play games with you?
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
-mike
Rebates are what they are for your region. If it is an available rebate then the dealer is obligated to give it to you. Some times there is confusion on the consumers part when they take a special rate instead of the rebate, the majority of the times they are either or.
If it is a Ford dealership where the confusion lays just let me know your Zip Code and the vehichle type and I will tell you what the incentives are.
We bought an Envoy XL SLT in May 2004...MSRP almost $40K. Rebate had just gone up another thousand to $5,000. (Interest rates at the time were running 3.99% through our Credit Union.) I looked at the same Envoy last year before the Xl was cut from the line up and the MSRP had gone down several thousand dollars. This would allow GM to get to the same competitive price needed to sell these vehicles with less incentive/rebate. About the same profit and transaction price without as much 'negative' publicity about them having to offer HUGE incentives to move their vehicles.
I went through that looking for '06 Silverados... in the end, bought an '07 Classic without all the obfuscation.
GM is one messed-up company. Even when they do something reasonable, it somehow becomes complicated.
-Mathias
But to answer your question of buying now... There's hardly ever a clear cut one way fits all answer. It depends on how you plan to use the vehicle. Towing and/or real off-road or gravel/secondary roads, then the Yukon/Tahoe. All primary roads with a lot of highway miles with passengers, the Acadia/Outlook/Envoy due to comfort and mileage.
Personally, I'm impressed with the new GM large SUVs more so than the GM CUVs to date. The Buick might change my mind, but the Acadia I checked out had a cheap unfinished look to the interior. I also hated the large blind spot in the A-pillars and the pricing is to high.
The January week that I had with a Suburban rental for businss was impressive. Not a perfect interior, but decent. Very impressed by V8 to V4 switch over as I found it extremely hard to ever notice the switch. Good job! Mileage wasn't that bad for the size of vehicle and weather conditions.
Back on topic - It does us no good to find the greatest deal if that great deal vehicle doesn't fit our requirements (use, budget, or garage).
To me the largest difference would probably be the fuel mileage difference. My towing requirements so far have stayed under the 4500# limit of the lambadas. I was in the second row in a Yukon a couple of weeks ago. It had captain chairs in the second row and they were really roomy and comfortable. I'm thinking that seating comfort might be a little better in the Yukon vs. the lambadas...but I have yet to stop in and try them out. As far as exterior looks I like the lambadas better, in fact I don't like the looks of the current generation Yukon/Tahoe as well as the previous version.
I will wait and see what the GM CUVs do later in the year with gas prices up and more of the Acadia, Outlook and Enclave in the sales pipeline. Comparable discount would put the low end Outlooks and Acadias down to the $24K - $27K considering Yukons and Tahoes with $34-$36K MSRP being advertised at $30K or under.
Take a look at the Nissan Armada, lots of room, 4-wheel Independent Suspension, decent milage for the size, low financing rates and 9100lb towing capacity... They are significantly more roomy than the Yukon/Tahoes especially the 2nd row buckets
-mike
Motorsports and Tuning Host
Thanks for the info on the Armada. A quick looks seems to show that the bottom line might be in the same range as the Yukon...would have to do some comparison with certain options/features to see if there is any real difference. We has a first year Nissan Quest...good vehicle (for a mini-van :-) ). Only thing I did not like was the orange brake dust...clean it up and there it was again in 2 days :-(. How is that on the Armada? Also, how is the real life gas mileage? I know that was not your major reason for the Armada since you tow the race car.
Good day
bill
I'd like to get 1.9% on a new RAV4. I know mazda and subaru are giving out 1.9%, but I guess Toyota doesn't do that.
If Toyota will never have 1.9% on a RAV4 then does anyone know of a good AWD car with 1.9% or less APR this weekend. In the RAV4 or lower price range?
Do you think we missed the boat by not purchasing one by today? I could have gotten a new Dodge Crew Cab for less than $20,000 (over $10,000 off the MSRP)
As far as the resale price, why would anyone ever need to sell a Dodge if they have a lifetime warranty. They could always pass it on to their kids and keep it in their name. There won't be as many on the market, which will naturally raise the resale price eventhough the warranty is not transferable. Also if your engine and trans. blow, and you get them both replaced, that may also be a good time to sell.
2018 430i Gran Coupe
Well, it is a Chrysler product :-). The POWERTRAIN does not cover a lot of expensive repairs that older cars might have. We had 2 Jeep GC Laredos in the early part of this decade. Power window motors, key switches, etc. kept going out. Not to mention the warped brakes every 10-15K miles, not covered under warranty after first 12K miles. Yep, it might keep running, but if nothing else works would you want to keep it?
I am looking to purchase a new Mitsubishi vehicle later this month. They had several rebates / APR offers for July, but as of yesterday, the only thing listed on their site is a $500 rebate if you attend a Mitsubishi sponsored event. At what point do you expect they will update their August incentives on their website?
P.S. - Looking at either a new Lancer or possibly a Raider (if the Raider has $4500-$6000 incentives again like I have seen in the past).
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
They typically offer to make the final 2 or 3 payments of your lease. Is there any way to find out if these incentives are coming out of the manufacturer's pocket of the dealers pocket?
If it is the dealer they really are not worth much....the cost will just be folded back into the negotiations and I'm better off waiting until my lease ends. But if it is the manuf. I could negotiate for a new car sooner.
If anyone knows where I can find this info please advise.
Thanks in advance!
What is the manufacturer of the vehicle you're leasing? If it's GM or Toyota, then maybe one of the offers is legitimate. If GM or Toyota have incentives to the dealer to move certain vehicles, then the offer may also be legitimate, in that GM or Toyota dealers will still make money on the deal (from the manufacturer) even if they pay the remaining lease payments.
However, it is likely that your remaining payments will be "paid off" by the dealership, but tacked onto your next vehicle purchase, just like negative equity would be.
In any case, no way to determine anything without knowing your current vehicle, and what vehicle(s) you might be getting these purchase offers on.
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Thinking of buying another Deville/DTS or a Toyota Avalon. I have receive two lease payment offers, one from GM ("Pull Ahead" program) and one from Toyota, which looks like it came through the dealer.
My guts tells me the GM offer is manuf. funded, but the Toyota is a dealer funded offer. (since the letter said they would pay 'up to' 6 months of remaining lease payments -- I find it hard to believe Toyota corporate would eat that).
Any more comment/info would be appreciated. Thanks again!
And think about this - how does Toyota know what your lease payment is? $500/month? $750/month? So, how could they make a legitimate & binding offer to "eat" your remaining 6 payments?
Let's say, for example, that your lease payment is $500/month right now. Toyota would be eating $3000 if they bought up the last 6 months of your payment. Sure, as their advertising says, they will pay the remaining 6 payments, but you will likely RE-pay those payments. Plus, they'd have a Cadillac on a Toyota lot (or have to send it to auction), which probably isn't ideal for them.
I'm just guessing that you're on the right track... the old, "if it sounds too good" adage is key
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I think our OP's inclinations are correct, as well.. Probably GM has a program, and the Toyota dealer's advertisement is just a come-on..
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It seems that when the rebate goes up, so does the vehicle sale price!
Example: 700 rebate: price of car is 13,399 (after rebate). 1250 rebate: price of car is 13,459 (after rebate).
And what's the point of a rebate if I am still paying what others have paid without the rebate?
Example: I've seen people in my area getting the same car I want at around 14.9-15K OTD. I am getting a price of 14.8K OTD with the rebate.
So should I be negotiating the sale price down further so the rebate actually feels like I am getting a rebate. I mean, it's a factory-to-consumer rebate, so why am I not seeing the savings? Is the dealer still trying to pocket extra cash?
From what you've said it would seem so. That's an interesting question though. Barring any last minute price increase from the manufacturer, (which would be dumb if they have to offer rebates) I can't see any reason for that.
You don't say what year car you are looking at. If it's a 2007 they may be getting in short supply and thus command a higher price.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Is there a mfr-dealer incetnive I dont know about?
(Looking to buy in Oct 2007)
My question: Is there something I'm missing? Why would a manufacturer want to give you such a great financing deal but only a so-so cash back deal? I realize that the 0% only applies to top tier customers but still it makes me wonder. What's the catch?
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Those numbers were accurate last year.
Could it really be as simple as a gambit to generate repeat customers? If I'm calculating correctly, the 0% deal is worth over $4000 vs. a $1000 cash rebate.
They must be looking for more than loyalty for 3 grand.
Is there a limit on the percentage of the purchase price you can finance? I mean could I finance 80-90% at this low rate?
How common are these types of deals? Maybe I should be looking around more. Say, joel0622, got any 0% deals on a Mustang GT?
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible