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cten07

Regional Acceptance & Global Lending Services

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19 minutes ago, cten07 said:

mnfc? What's that? 

manufacturer... there is a $1500 cash incentive right now for the 2019.

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10 minutes ago, cten07 said:

Yes. My deal has rebates of 1500, 1250, conquest 2k

with all those 22,500 seems high.

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32 minutes ago, cten07 said:

What would be a good number then?MSRP is 30,340. 

Thanks

This isn't a Saturn.  Haggling is permitted and nobody should begin negotiations DOWN from MSRP. 

 

You need to know about things like holdback and even invoice, despite the fact that invoice is not even a true number with many vehicles nowadays.  It sounds like you didn't do a lot of research before going in.

 

Vehicle-specific forums are so common that you SHOULD be able to find one with enough activity to find what is generally viewed as a good price.  Further, you NEVER want to discuss trade until the vehicle price has been hammered out.  Letting the salesperson know about a trade, no offense to Marv (although he is not a sales weasel anyhow), allows them to four-box you into oblivion... 

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Posted (edited)
15 minutes ago, centex said:

Vehicle-specific forums are so common that you SHOULD be able to find one with enough activity to find what is generally viewed as a good price.  Further, you NEVER want to discuss trade until the vehicle price has been hammered out.  Letting the salesperson know about a trade, no offense to Marv (although he is not a sales weasel anyhow), allows them to four-box you into oblivion... 

:offtopic:did you see this? https://www.economist.com/finance-and-economics/2019/09/26/can-you-buy-a-good-second-hand-car

 

in case you can't get past the pay wall the short of it is the impact of lemons on the peach market declines with time (i.e., older car prices are not as adversely impacted by asymmetrical information about whether it is a lemon or a peach). yes, I'm a nerd.

Edited by hegemony

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8 hours ago, MarvBear said:

I've been in the business for 40+ years.  When a salesperson comes to me and tells me he can't get the customer to come in unless he tell the term, rate, etc.   I just say fine, transfer the call to me and I will answer whatever they ask.  In all those years when I do that, I have yet to see the customer.

This.  Typically it's someone who's aware of credit and knows they're not where they want to be.  And then, of course, they expect a miracle 7% when they qualify for 18%+  Little we can do at that point, even on a special rate with a captive lender.  Processing fees here have to be standard across the board to all customers if charged, so it always gives me an interior chuckle when a customer grumpily comes in having read forums and goes "That's not required by law, you can't put that on my contract"  ... Well, no, it's not required by law that I sell you a car either, but here we are...

 

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I tried the Edmunds link. TMV was 27893. Minus 4750 in rebates equals 23143. Not sure how 22,500 is high. 

My trade was for 7850. 

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11 minutes ago, cten07 said:

I tried the Edmunds link. TMV was 27893. Minus 4750 in rebates equals 23143. Not sure how 22,500 is high. 

My trade was for 7850. 

just be sure the edmunds thingy has the exact same options as the one on the lot.

 

just curious, how did you settle on 22,500? did you start offering lower?

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Exact same options as Edmunds. He started at 24,800. I started at 22k, he countered at 23k, I said 22k again, then he countered at 22,500 which I settled at.. 

Trade he began at 4k, I started at 8500, he kept coming up, I was firm, he brought in big boss who offered 7850 and I took it. 

CarMax was 7k

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14 hours ago, cten07 said:

I tried the Edmunds link. TMV was 27893. Minus 4750 in rebates equals 23143. Not sure how 22,500 is high. 

My trade was for 7850. 

IME, anyone that falls for Edmunds TMV should immediately get a referral to a tattoo removal shop to have that "sucker" label removed ASAP! 

 

As I recall, the asserted TMV on my F-Type was in the mid-70's.  My deal was $60K plus TTL.  No trades were involved.  No rebates were involved. 

 

You HAVE to be more informed than you are showing in this thread.  Otherwise, I would suggest using your time to rent a copy of Suckers...came out somewhere around 20 years ago.  You come across as some of the customers portrayed in that flick...

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If I was a sucker I would of agreed to their original deal. OK Mr. Negotiator, how much do you think you could that car for?  Oh that's right,not good enough for you, Jaggy. 

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40 minutes ago, cten07 said:

If I was a sucker I would of agreed to their original deal. OK Mr. Negotiator, how much do you think you could that car for?  Oh that's right,not good enough for you, Jaggy. 

I don't do GM products...never have and likely never will.  So no, I am not going to look into pricing, especially on a vehicle that is produced by a union currently on strike, which rules out spec'ing to order (which is the only way I would generally look to get a domestic product since I look at combinations that most dealerships won't stock). 

 

Oh, and its Ms. -would normally have expected someone with almost two years on the site to be aware of such information...

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OK you two...off to neutral corners.

 

OP - I think you have gotten some solid advice in the thread and some things to consider before finalizing your purchase.  You can also check out the "prices paid" forum over at edmunds for your particular model to see what kind of deals others are getting.  You should also look at what the invoice price is for your model (if you haven't) and work back off that, not MSRP.  On a 2019 model, I would be looking to be below invoice before any available incentives, trade considerations, etc (this is why you were advised to separate trade from sales price).  If you get a price that you think is fair, and the financing is aligned then make  deal.  If not, don't fall in love with the car, there will be another.

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With my scores 7.9 for 72mo is a gift from the credit gods. I said yes but my wife said no to the vehicle. I remember the days of 18% mortgages when I was 12 years old to keep things in perspective. Current loan is with Chrysler @ 8.10. Crazy thing is I got that rate 4 years ago when my score was a 517 and rolled in 3k. Wife likes Jeep Cherokee, went to buy today, Chrysler Capital did not reward my good payment history with them at all  Offer was for 15%. My scores just stink less now between 602 and  613. Finance manager was surprised at how high the rate came back.  I guess they did not like my neg equity of 6k despite 6250 in rebates,MSRP which means nothing was 29k, price was 20,800 before fees& taxes

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any chance you can work on your scores for a couple months? it might make a world of difference.

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I will try.  think neg equity is also bigger killer. Auto financing is not always just a simple matter of x score giving you y rate, dealers are bad,never use dealer financing blah blah.  Over 17 years I have financed 5 different cars,my credit scores have ranged from a low of 494 to a high of mid 700s, guess how many times I have been able to beat the dealer rate with my own loan from bank/magical CUs. Only one

 

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5 hours ago, cten07 said:

I will try.  think neg equity is also bigger killer. Auto financing is not always just a simple matter of x score giving you y rate, dealers are bad,never use dealer financing blah blah.  Over 17 years I have financed 5 different cars,my credit scores have ranged from a low of 494 to a high of mid 700s, guess how many times I have been able to beat the dealer rate with my own loan from bank/magical CUs. Only one

 

An Loan To Value factor is one of the biggest risk valuations,   A high Loan To Value and a lower FICO score usually translate into higher APRs   Oh and By the way Chrysler Capital, is now Santander Bank.   They weigh every aspect of the transaction to determine their inhouse score.  My rep told me Santander uses Vantage scores.

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I think they were Santander Bank 4 years ago as well. I remember when I bought the car 4 years ago with my scores and negative equity even though some people think MSRP means nothing, salesmen told me since I was out the door under MSRP by 2k really helped. LTV was in line. GM apparently thinks there cars are better since they approved me @7.9. 3 days ago.  Personally I do as well. Finance manager at Jeep said rates at Chrysler Capital stink compared to 4 years ago.

 

 

 

 

 

 

 

 

 

 

 

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