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  #73  
Old 12-10-2015, 12:53 PM
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Re: first post, seeking advice from current owners!

Quote:
Originally Posted by JTS97Z28 View Post
Always establish the price of the vehicle, THEN tell them how you will be paying for it. They will NOT change the price of the vehicle just because they have some sort of special financing going on. Never go into a dealer telling them you are paying cash. With these incredibly low rates I personally don't see the point in paying cash, but thats just me and everyone is different. I would want that money in my account.
+1

Never discussed how the vehicle will be financed. First determine your buy price. Also deduct known incentives and rebates to obtain the adjusted cost. Any reputable dealer will not change the (adjusted) buy price based on whether they will be processing the financing. Perhaps it happens with some. If so, move on the next dealer. Zero percent financing is usually offered by the manufacturers finance division. This will be granted in-part tied to a specific model and certainly credit worthiness. The Finance Mgr has the ability to include a mark-up on the rate. This would be for traditional financing or lease (m.f.).

When buying a car there are many areas where a dealer can make profit. This would include the sell price, documentation fees, interest rate and service plans. It comes down to being educated in the buying process and knowing when to walk away from a deal. That is unless you are buying a limited edition vehicle and emotion wins over being practical.

In the end there are options available to any car buyer. Whether you pay cash, finance or lease. Whether you turn a vehicle every few years or keep it 7-10, there are reasons for one vs. the other. Yes some do extend themselves but usually it will catch-up to them. I have stated in a previous post that I am leasing my JGC. Does this mean that I cannot afford it. No. It only occupies a very small percentage of my net income. I would rather invest my money where it has the opportunity to grow. A vehicle, such as a Jeep, I don't want to take $50k of my earned money to watch it depreciate. Nor do I want to drive the same vehicle for 10-years. It works for me but I'm not implying that everybody should follow this model.

billt, I don't know you but reading your posts indicates a narrow view. I respect your position and congratulate you on being able to retire at 63 (or so). One still accomplish life goals and drive a nice vehicle every few years. It's simply a matter of available income and work stability (for most of us).

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  #74  
Old 12-10-2015, 01:29 PM
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Re: first post, seeking advice from current owners!

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Originally Posted by JTS97Z28 View Post
Always establish the price of the vehicle, THEN tell them how you will be paying for it.
It can't be done accurately because the price varies depending on how you are going to pay for it. It's the first thing they ask you once they determine you're serious. They want to know if you're even qualified to buy. Many today are not, and dealers don't want to waste their time trying to sell a car that can't be sold. Many stroll into the dealership with visions of grandeur, accompanied by pi$$ poor credit. You have to remember, they work people for a living, and know every possible angle. The average person buys a car how often? You won't beat them at their own game.
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  #75  
Old 12-10-2015, 02:22 PM
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Re: first post, seeking advice from current owners!

In Canada, every summer, Ford has a national promotion called employee pricing.
Essentially, Johnny Everybody gets the same discount from MSRP Ford employees would benefit from, and in addition, they offer the same 0% financing.

Why do they do this? To clear lots, and move inventory. A $20-30K sale is more important than a few hundred dollars difference in profit margin.

I get that most times nothing in life is really free, but if you time your promotions, and negotiate pricing properly from the dealer invoice price, you can get your 0% financing.

As long as your rate is below inflation, you are in an advantageous position compared to paying cash. Money today is better than money tomorrow. That is why interest was invented, to compensate for the lack of money today. Present value, Future value, both important terms to keep in mind.

If the consumer is not careful, they can be fooled by allowing the dealer to hide the future value earned in the sale price, and not displayed out in the open as an interest rate.
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  #76  
Old 12-10-2015, 02:44 PM
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Re: first post, seeking advice from current owners!

Quote:
Originally Posted by tiri View Post
In Canada, every summer, Ford has a national promotion called employee pricing.
Essentially, Johnny Everybody gets the same discount from MSRP Ford employees would benefit from, and in addition, they offer the same 0% financing.

Why do they do this? To clear lots, and move inventory. A $20-30K sale is more important than a few hundred dollars difference in profit margin.

I get that most times nothing in life is really free, but if you time your promotions, and negotiate pricing properly from the dealer invoice price, you can get your 0% financing.

As long as your rate is below inflation, you are in an advantageous position compared to paying cash. Money today is better than money tomorrow. That is why interest was invented, to compensate for the lack of money today. Present value, Future value, both important terms to keep in mind.

If the consumer is not careful, they can be fooled by allowing the dealer to hide the future value earned in the sale price, and not displayed out in the open as an interest rate.
Exactly this, thats what I've been try to say but apparently I am wrong.
In addition to your statement, lost profit from 0% financing is backed from the manufacture as a marketing tool to move inventory, just like advertising cost of doing business.
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Old 12-10-2015, 05:39 PM
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Re: first post, seeking advice from current owners!

I've purchased about 50 new vehicles in my life, so I consider myself to be somewhat of an expert. When I walk into a dealer, I've already done my research regarding Invoice price, trade -in value of my current vehicle, and all rebates and/or finance offers. I let them know that I am looking at three transactions all of which must meet my expectations. They are the purchase price, trade in , and financing. All separate and distinct. Usually I will forgo the 0% finance and take the rebate since my trade in always commands top dollar. Since I have excellent credit, my finance rate is very low anyway, so the cash rebate works out in my favor. The finance rate isn't even discussed until after the purchase and trade-in values are agreed upon.

I can truthfully state that "NO WAY DOES THE FINANCE RATE AFFECT MY PURCHASE PRICE" in any way, shape or form. If you let a dealer tell you otherwise, walk out the door.
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Old 12-10-2015, 07:05 PM
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Re: first post, seeking advice from current owners!

Quote:
Originally Posted by jeepgrady View Post
I've purchased about 50 new vehicles in my life, so I consider myself to be somewhat of an expert. When I walk into a dealer, I've already done my research regarding Invoice price, trade -in value of my current vehicle, and all rebates and/or finance offers. I let them know that I am looking at three transactions all of which must meet my expectations. They are the purchase price, trade in , and financing. All separate and distinct. Usually I will forgo the 0% finance and take the rebate since my trade in always commands top dollar. Since I have excellent credit, my finance rate is very low anyway, so the cash rebate works out in my favor. The finance rate isn't even discussed until after the purchase and trade-in values are agreed upon.

I can truthfully state that "NO WAY DOES THE FINANCE RATE AFFECT MY PURCHASE PRICE" in any way, shape or form. If you let a dealer tell you otherwise, walk out the door.

I pretty much agree and that's about what I've had to say, just didn't feel like typing that much lol
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  #79  
Old 12-10-2015, 08:20 PM
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Re: first post, seeking advice from current owners!

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Originally Posted by jeepgrady View Post
I've purchased about 50 new vehicles in my life, so I consider myself to be somewhat of an expert........... Usually I will forgo the 0% finance and take the rebate since my trade in always commands top dollar.
I'll bet it does. It can't be more than 6 months old!
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Old 12-10-2015, 08:29 PM
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Quote:
Originally Posted by billt View Post

I'll bet it does. It can't be more than 6 months old!
Usually keep them 3-4 years.
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  #81  
Old 12-11-2015, 06:29 AM
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Re: first post, seeking advice from current owners!

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Originally Posted by jeepgrady View Post
Usually keep them 3-4 years.
Just long enough to realize maximum depreciation.
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  #82  
Old 12-11-2015, 08:24 AM
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Re: first post, seeking advice from current owners!

I'm near almost 30.. Never had one longer than a year and a half lol
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  #83  
Old 12-11-2015, 09:39 AM
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Re: first post, seeking advice from current owners!

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Originally Posted by billt View Post
Just long enough to realize maximum depreciation.
Different strokes for different folks. I do believe we clearly understand where your feelings on this lie. It's good to have choices.
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  #84  
Old 12-11-2015, 10:08 AM
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Re: first post, seeking advice from current owners!

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Originally Posted by billt View Post
Just long enough to realize maximum depreciation.

I paid 42,800 for my 2012 Overland 4x4 with 5.7L Hemi in Nov 2011 and traded it in for $29,000 last month, so had it a full 4 years.

$13,800 to drive an Overland 4x4 Hemi for 4 years is pretty good.
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