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If your credit is good you could finance 140% @ that rate.
Also, rebates don't get peoples attention like they used to.
Sorry no 0% on the Mustang GT's. But I will put you on my list to call if it ever happens
I guess it is. :confuse: Today when I was talking about rates with my credit union lady I mentioned that my FICO was 790 and I think I heard her gasp. She then approved me for 100% financing of any car I wanted to buy.
No wonder people get into money trouble. Lenders just throw money at you.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
One of the biggest mistakes I ever made was in buying an '02 Chevy Avalanche with zero financing. The truck stickered for 38 something and the purchase price was 32 and change. Without my asking, the dealer said GMAC would finance 40 on it. I should have put the extra 7 plus in my pocket but, no, I was content with just financing the purchase price.
On the other hand, if not having those 7 grand made you not buy something and wait until saved some money, that was almost as good as taking the 7 grand and putting it into work - with advantage of building equity faster. So - not such a big mistake, after all.
2018 430i Gran Coupe
I had people ask me about that allot when we had the 0% for 72 going on. If they had for instance a PIF trade that was worth $10K they would want to know if it would be a good idea to get there trade equity back and put it in a CD/Money Market/etc. They would show me spread sheets on how much they could make on there $10K over the 6 year period.
I would tell them that I am not a financial adviser but IMO the only way that made sense is if they were going to keep the car for the full 6 years or at least till they had equity.
My train of thought was that if they financed 100% plus the taxes and then came to trade again in a couple years then they would be out of equity. Then they would roll that neg into a new loan at say 6.5% and kind of defeat the purpose. Then it starts the process of rolling a little more each time and before you know it your neg exceeds the original $10K. I would go on to tell them that car buying is not an investment and they should not look at it as a money making proposition in any way, just take the program for what it is worth and enjoy the free money. if they wanted to invest something I would be happy to tell them what there monthly finance charge could have been and they can invest that if they want to.
Good advice?
Misguided advice?
They don't need to keep the car 6 years, they just need to not roll negative. In other words, if the option is pay $5k down now or take a 0% loan for $5k now and earn interest on your $5k, even if only for the next 2 years, then take that 2nd option!
I am always of the opinion that you should take cheap money when it comes your way and use it to the fullest. I have 2 extremely low money factors on 2 cars right now (less than 1% each), while my money sits in a money market earning almost 5%. I could pay off in cash right now ... but why would I?
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
There is also a significant risk exposure - larger than they probably realize - if the car gets totaled early, they will end up owing large chunk of cash, so if the investment is not very liquid (CD, real estate) or volatile (stocks), they may end up losing on the deal. Buying Gap against it would of course defeat the whole leverage, so it makes no sense, either.
I like to keep things "real". If it's a car loan, it's a car loan, not car plus three trips to the mall. Mixing or levering those things against each other is only good for very disciplined and self-concious people who can say exactly how much money they really have after this "creative accounting" schemes are included. My short experience tells me it is most often done by people who are exact opposite - they don't want to face the truth, because it may mean they are living beyond their means and those levers are done to tell themselves they are smart and obscure the truth from themselves. They build Enron in their own personal finances. Of course, as detective Monk says "I may be wrong - but I'm not".
2018 430i Gran Coupe
Enjoy it while it lasts - not for long. After this cut it will be "almost 4%", soon enough (more cuts) - "almost 3%", etc.
2018 430i Gran Coupe
But, heck, its been lasting way longer than I originally thought, so its all just icing.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Thanks in advance.
However, there must be a list of the past incentives/rebates for a particular vehicle? I have searched and can not find anything of the sort, all I can find is the current ones. If armed with the last 6 months of historical rebates I can better judge how good the current ones are. I have no idea if the current ones are historically low, average, or great.
Currently am looking at Tacomas and Frontiers which have $2250/$2500 cash back or (0%/36)/(0.9%/60) financing respectively.
thanks
That's a tough one. Good question though. Is there a source that keeps track of historical rebate data.
In a recent new car purchase I had enough lead time that I kept track of rebates on the models I was considering for a year prior to shopping. I noticed that the rebates began to increase in Nov.--Dec and then got progressively greater throughout the winter. They then stabilized as demand picked up in spring. The final increase came starting in July as they tried to clear out their lots.
I've noticed big incentive increases if a new redesign is coming out in the fall so you might want to track that as well.
Maybe someone here knows of a site that keeps track of past rebates. Automotive News might have that info if you have access to back issues.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Hope you get an equally good deal!
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Do you have an idea if the incentives will increase after June 2?
Jeeps website does not give incentives, but suggests you talk to a dealer in a 'wink wink' they know what the incentives are kind of way. A few dealers claim no incentives, but one tells me there is a $500 incentive. Who to believe. Anyone know the actualy incentives dealers are gettin for Wranglers right now?
Thanks,
Hoch
http://www.edmunds.com/incentives/RebateController?styleid=100905379&popuppage=o- n
Anyway... takes only a few minutes to build the vehicle, so you're not out much time if there's no coupon at the end.
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https://www.gmfamilyfirst.com/ip-gmemployee/
.. it will take you to GMbuypower - and once you finish selecting
a make \ model \ option pkg level -
it will bring to to dealers in or near your zip.
For each vehicle in dealer inventory the Employee Price
will display right under the MSRP:
2008 STS (4.6L V8)
Engine: Engine, 4.6L V8, 320 HP
Transmission: Trans., 6-Spd., Auto, RWD
Interior: Ebony Nuance Leather
Exterior Color: Black Raven Exterior
Match
MSRP*: $61,945.00
GMS Price: $55,295.05
* Window Sticker
* Request a Quote
Also - if you display the Window Sticker,
the GM Employee price also displays there...
Good luck!
- Ray
Tempted - bought in 2005 - but not this time around.....
My local Caddy dealer's web site shows both
an Employee Price AND a further, 'cash back'
discount - at least on the 2008 STS & CTS models
I just checked....
$4,000 on STS and $2,000 on CTS.
Makes a fairly well "loaded" 2008 STS V8 with
MSRP = $63K
Sell = $52K
Interesting.....
- Ray
May go drive one tomorrow...
I just shopped for a new 2008 Buick under the employee pricing event, but quickly learned that they were concealing the fact that the $2,000.00 bonus for ending the lease early was offset by the ridiculous rates that GMAC was charging on the new sales finance contracts for the new purchase. GMAC will waive only 2 of my 6 payments, so you know what, screw GMAC and GM.
I may try making a deal on one of the lonely new 2007 models rusting out there. I would plan to keep for long enough that depreciation would not matter. What would be a good discount for a 2007 Buick Lucerne CXL V-8 with an MRSP of $35K?
I think the fact that the car has been sitting around since 2007 (maybe late 2006) warrants a DEEP discount. The fact that it is still there may indicate the dealer has dug in his feet and wants "all the money" for a car that is not in demand.
Offer what you think it's worth out-the-door. Tell them this is the only offer they will get from you. Walk if they squawk.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
- Ray
Negotiating right now.....
I am negotiating on a new 2007 Lucerne and it is shocking how many new 2007 units are still available. Most of the dealers who have these are jerks; that's why they still have them. If they were reasonable they would have sold them long ago.
Does anybody have an educated guess as to whether GMAC is likely to increase its pull ahead program in the fourth quarter (10/1/08)?
Have you checked to see if he's telling the truth? While rebates change they usually do so at the beginning of the month. It's an old salesman's tactic to tell you the price is only good today so you feel a sense of urgency.
Check with Chrysler (corporate not a dealer) to confirm that the rebate changed at the time the salesman said it did. If he was telling the truth I would go back to him when the rebates are more to your liking. If he was lying, avoid him like the plague.
You can get some pretty good idea of current rebates here on Edmunds. Good luck.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Thanks
When dealers (or any retailers) tell you your price is "$XX off" (discounted) it's ALWAYS vs highest reference price they can find - most of the time it's MSRP. Translation: the letter says "Edmunds TMV say it's $7000 off MSRP and we are offering it you" tax, tag, title, dealer fee, WAC, only on selected vehicles in stock
2018 430i Gran Coupe
My argument back to the dealership if they say the 7k is built into the TMV price is that TMV is based on vehicles sold, this "incentive" does not start until this weekend.
the letter is meaningless.
ifyou want to buy a car, do your research, pay market price.
ignore all dealer advertising, pay attention to manufacturer offers only.
-mathias
You can probably figure out taht the dealer pads all the cars with enough cheap mop and glow and what have tiy to bring the price of the car 30% over MSRP. what you get is a car for list price that they pretend is a bargain. You'll find the same trick with different phrasing everywhere.
tidester, host
SUVs and Smart Shopper
I am ready to purchase a 2009 Malibu. Tomorrow (March 2) is the last day for the current rebate which is $2750. Should I wait and will the rebates get better or worse?
Please help! I need a new car and not sure if I should wait another couple of days to see what the new offers will be. Anyone know what they will do?