Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It shouldn't be necessary to play that game. I would simply ask for the sales manager, tell him/her that I was quoted a certain price if I financed, but I don't want to, and ask if they want to sell me the car for that money or see me walk out the door. I did that one time, and the next day they called and said, "come get your car."
There are too many dealers out there and one will take the deal, believe me.
Don
Some manufacturer rebates are conditioned on using their financing.
Location: Stuck on the East Coast, hoping to head West
4,640 posts, read 11,940,392 times
Reputation: 9887
To further clarify, yes the rebate is tied to dealer financing. I am playing the dealers against each. I have it narrowed down to 2 dealers.
In my state, I have 3 days to cancel the loan, no fees or penalty.
I originally told the dealers I already have financing, but I'd be open to dealer financing if it lowered my bottom line. Then both mentioned an incentive that's worth $500. Then it got interesting b/c they started cutting other costs. One guy said if I did the dealer financing, not only would I get the rebate, but he'd give me an additional $200 off (so a total of $700 off), then they started offering me other stuff. I'd already negotiated pretty good deals to begin with (and I did my research) so these are great deals.
My point is that I though it would just qualify me for the dealer-financed rebate, but it is starting to snowball a little.
BTW, I've bought both new and used cars. The new car buying experience is about 100 times easier and far more pleasant. I am doing far more negotiating from my laptop (and having more success) over the new car than I ever did for used.
Also, the new cars are, in many cases, only costing a few thousand more than what I was willing to spend on a used. When I factor the difference over the time I plan to owe the vehicle it makes the new car a no-brainer.
I was also surprised about insurance costs. My new car is not going to be nearly as expensive to insure as I'd feared.
I bought my car in 2015. Dealer would not give me the price I wanted unless I financed the car. I agreed to the financing and paid it off a month later. (There is no pre-payment penalty in NC)
I found the same thing as you in regards to new vs used. Buying a new car was absolutely the best deal for me.
The salesman actually begged me to do dealer financing and stated I could do just as you suggested.
I refused because I wanted no lien....ever...on this car.
Quote:
Originally Posted by LeagleEagleDFW
For what reason? If you can get a better deal by doing the financing, why wouldn't you?
Quote:
Originally Posted by Remington Steel
What is the advantage to you by not ever having a lien by you paying it off in days/weeks? Regardless, once the balance is "$0", the car is YOURS.
Because it sounds extra tuff on the internet to be emphatic over something that doesn't matter. Sometimes they give out extra rebates if you use their financing. To pass that up over some silly machismo is just a self inflicted wound.
Quote:
Originally Posted by bande1102
In my state, I have 3 days to cancel the loan, no fees or penalty..
A 3 day right of rescission is something else, that means you'd be taking the car back. Or you'd have to pay it all in full or have another loan setup to take over for the one you cancelled. No penalty for early payoff is different. That means if I take out a 72 month loan at 2.9% but I pay it off in 13months, I don't pay a prepayment penalty and I will have only paid interest for that 13 months and I get my title soon afterwards. 13 months, 13 weeks, 13 days - whatever, you'd only pay the interest up to that point.
I guess also that it would depend on the interest rate your going to pay when financing the vehicle. When we bought our 2015 Jeep we were offered 0% financing, which is great, I can use their money to buy the Jeep and pay it back on monthly payments.
I guess also that it would depend on the interest rate your going to pay when financing the vehicle. When we bought our 2015 Jeep we were offered 0% financing, which is great, I can use their money to buy the Jeep and pay it back on monthly payments.
Was it a true "0% Financing " ?
Or, as it used to read, ................"0% financing or $1,000 cash back".
Yeah with loans from a credit union coming in at 1.49% it can definitely make sense to pass up the 0% and take the incentive instead. Even with the cash on hand, that is better served in investments with rates this low.
Or, as it used to read, ................"0% financing or $1,000 cash back".
Thus, that financing cost you $1,000 .
Lols. The old gift horse syndrome. They use the money to buy down the rate to give you zero%. Some people would rather have a lower balance, some would rather have a lower payment. So you choose how you want your incentive. It can't cost you if it wasn't in your possession to begin with.
Quote:
Originally Posted by notnamed
Yeah with loans from a credit union coming in at 1.49% it can definitely make sense to pass up the 0% and take the incentive instead. Even with the cash on hand, that is better served in investments with rates this low.
Exactly.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
