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  #25  
Old 12-27-2015, 06:33 PM
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Re: 2015 vs 2016 price and financing questions ...

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Originally Posted by Shockwave View Post
Each one either said we don't go lower than the advertised price on the website or if I use the 0% financing they remove the rebates and the price increases. It's almost like they don't want to sell a car.
Not surprising. What I do when it's time for a new vehicle is I'll pick 3 and blast out emails for each of them so I have options. Usually, I know what I want and the other two are backups, but it's happened before that I didn't even entertain the primary choice because one of the others is just too good to pass up.

This time, I knew that I wanted the GC, and my other options were an Explorer (which I've had before and didn't hate), and a Kia Sorento.

Shockingly, when I emailed the Kia dealers, the first one to respond couldn't comprehend 0 cap cost reduction. Just didn't get it, wouldn't send me numbers without it, and flat out insisted I come in the showroom, responded to one of my emails and told me I was "Killing him" and "Why can't you just come in here like everyone else does?"

He was more content to sit and wait for someone to walk in who wouldn't negotiate and just buy whatever he put in front of them than deal with me.

When I got a quote from another Kia dealer, they beat him by somewhere around $55/mo without any cap cost reduction and an extra package -- I forwarded their email to the first salesman afterwards and copied the sales manger and finance manager at that dealership, and said "See? It wasn't that hard to listen to what I was asking for. If you had done this I might've been driving a Sorento 3 weeks ago."

Of course, I've been accused of being a jerk once or twice before. I'm simply amazed at how little effort salesman want to put in to selling cars. It's kind of their job, and I'm amazed when they just don't want to do it.

Good luck on your search. You're close enough that you might want to risk waiting till the current incentives expire after the 4th of January if you want to take your chances and the current rebates aren't applying to your deal anyway.

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  #26  
Old 12-27-2015, 07:57 PM
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Re: 2015 vs 2016 price and financing questions ...

The HA is a very nice package...but you need to like a black interior. You can easily swap out the black wheels if you don't prefer them...some dealers will even do the swap for you because there are other buyers who will prefer them over the bright wheels.

Relative to the financing, since you can get very low rate financing from a credit union (provided your scores are high), you may save more by taking the incentives instead of the 0% financing. (which really isn't 0% if you think about it...they are having you prepay financing charges by taking away the incentives) PenFed has 1.49%, for example, as does many other similar financial institutions.
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  #27  
Old 12-27-2015, 08:01 PM
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Re: 2015 vs 2016 price and financing questions ...

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Originally Posted by Jim_in_PA View Post
The HA is a very nice package...but you need to like a black interior.

Relative to the financing, since you can get very low rate financing from a credit union (provided your scores are high), you may save more by taking the incentives instead of the 0% financing. (which really isn't 0% if you think about it...they are having you prepay financing charges by taking away the incentives) PenFed has 1.49%, for example, as does many other similar financial institutions.

A couple places replied back saying their terms with the rebates was 4.49%. it seems to qualify for these rebates they want me to use there financing options, I understand it can be higher but not 4.5% higher. If I can get the rebates and like 2% then that would be fine.

So I guess the question is if I get my own loan and walk in saying I'm preapproved ready to buy, they will say we are wiping out all the rebates and jack the price?
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Old 12-27-2015, 08:05 PM
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Re: 2015 vs 2016 price and financing questions ...

If you have a good credit score, you should be able to...score...a much better finance rate that the dealer is offering and retain the rebates and incentives. The net "should" be a better deal for you. Shop for financing just like you are for your vehicle. Just having that 1.49% or whatever approval in your pocket gives you some negotiation power with the dealer if they want to do your financing even with incentives applied...they make money on placing finance deals. It's a profit center line item for them. My dealer matched the 1.49% without even blinking. They didn't make as much as they would have, but they didn't lose it altogether, either.
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Old 12-27-2015, 08:09 PM
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Re: 2015 vs 2016 price and financing questions ...

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Originally Posted by Jim_in_PA View Post
If you have a good credit score, you should be able to...score...a much better finance rate that the dealer is offering and retain the rebates and incentives. The net "should" be a better deal for you. Shop for financing just like you are for your vehicle. Just having that 1.49% or whatever approval in your pocket gives you some negotiation power with the dealer if they want to do your financing even with incentives applied...they make money on placing finance deals. It's a profit center line item for them. My dealer matched the 1.49% without even blinking. They didn't make as much as they would have, but they didn't lose it altogether, either.


That's what's confusing me though. Why is it a couple of these dealers replied back saying they would wipe out all the rebates if I used Chrysler 0% financing? Would they still say that Even if I went with chryslers 1.92% rate for 72mo? Which I may do depending on the price.
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Old 12-27-2015, 08:14 PM
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Re: 2015 vs 2016 price and financing questions ...

They said that because Chrysler is providing "either" the rebates or the low rate financing. You can't have both since Chrysler is paying and that's their rule. This really isn't anything new in the auto industry when it comes to manufacturer provided low rate financing as an alternative to incentives. They are offering x dollars and it can be used either to "reduce the interest rate" (IE, prepay the interest in reality) or "reduce the vehicle cost" for a "cash" sale.

So choose the rebates and finance with someone else. It really does pay to shop for financing, even if you don't ultimately use it. Your goal is to pay the net least for the vehicle including finance costs.
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  #31  
Old 12-27-2015, 08:18 PM
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Re: 2015 vs 2016 price and financing questions ...

Quote:
Originally Posted by Jim_in_PA View Post
They said that because Chrysler is providing "either" the rebates or the low rate financing. You can't have both since Chrysler is paying and that's their rule. This really isn't anything new in the auto industry when it comes to manufacturer provided low rate financing as an alternative to incentives. They are offering x dollars and it can be used either to "reduce the interest rate" (IE, prepay the interest in reality) or "reduce the vehicle cost" for a "cash" sale.

So choose the rebates and finance with someone else. It really does pay to shop for financing, even if you don't ultimately use it.
Ah!! Ok I think i get it now!

So I can get either get the rebates or the financing through Chrysler, but not both. So if i find someone else to finance through other than Chrysler i can still get the rebates.

Sorry for the ignorance, as i mentioned earlier its only my second car purchase through financing. Last one was about 9 years ago when i was in my mid-20's. This time around my fico scores around 750+ and i have not been late on anything in about 10 years.
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  #32  
Old 12-28-2015, 10:38 AM
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Re: 2015 vs 2016 price and financing questions ...

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Originally Posted by Shockwave View Post
So I can get either get the rebates or the financing through Chrysler, but not both. So if i find someone else to finance through other than Chrysler i can still get the rebates.
Bingo! That's essentially it. Given there is a "cost" to the "free" financing, take the rebates and finance elsewhere at the lowest rate you can obtain. The net should be favorable to you.
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