Car financing

Quote from Fare : Alright, they have an ambiguously worded ad; I would like opinions on whether they are trying to get a little more cash out of me or I just read it wrong. The fine print on the discount: Disclaimer 4- on in stock new Hyundai models. Includes manufacturer rebates and incentives The rep says I need to be military and a recent college grad to get the full discount. I originally interpreted that as "if there are rebates you don't get the discount and the rebates." Opinions?

Get the total itemized. You can get discount and rebates, but only if you qualify for the rebates.

MSRP - Discount (offered by dealer) - Rebates (offered by manufacturer) = Price.

Military rebate, college grad rebate, current owner rebate, etc.. are pretty common and they're offered by the manufacturer. You can't negotiate on these.

Typically a dealer will advertise the lowest possible price on a vehicle to get your attention. The ad might read something like:

$18000 MSRP
- $2000 Dealer Discount
- $500 Military Rebate
- $1500 College Rebate
= $14000 NET PRICE

If you go in thinking you'll get the car for $14K and don't qualify for the rebates then your price will be $16K.

Ok, so you think what they're saying is legit. Thanks.

Have an idea on price and drive the hard bargain. Truecar is a good starting point but try to go a few grand below. When they are uncomfortable you know you have a good number.

They're already below truecar price, I was trying to get them lower

Slickdealer for life!

Quote from Fare : They're already below truecar price, I was trying to get them lower Slickdealer for life!

There's a difference in being a slickdealer and just being an ass to the dealer.

I'm no fan of dealerships, but I recognize they're in business to make money. Why would they sell you a car at a loss? All the pricing is already on Truecar.

If you go into the dealership trying to drive the hardest bargain and screw them out of every last penny they'll just think you're an ass.

I'd rather go in, tell them what I think is a fair price, and we both walk away happy. Dealer makes a couple bucks, I get a decent deal.
There's always someone who paid a better price, got a better deal, whatever... but I honestly don't mind paying a couple hundred bucks more. An extra $200 on a $20K purchase is pennies especially if it's amortized over a 5 year loan.

Quote from mr_rolla : There's a difference in being a slickdealer and just being an ass to the dealer. I'm no fan of dealerships, but I recognize they're in business to make money. Why would they sell you a car at a loss? All the pricing is already on Truecar. If you go into the dealership trying to drive the hardest bargain and screw them out of every last penny they'll just think you're an ass. I'd rather go in, tell them what I think is a fair price, and we both walk away happy. Dealer makes a couple bucks, I get a decent deal. There's always someone who paid a better price, got a better deal, whatever... but I honestly don't mind paying a couple hundred bucks more. An extra $200 on a $20K purchase is pennies especially if it's amortized over a 5 year loan.

Yup, most of the time it's the sales person that's getting screwed, not the dealer/company. They have a family to feed as well..

Don't worry, I wasn't being an ass. I was just looking for the advertised price, which I didn't qualify for.

Anyway, got the car. Now to get that 1.5% loan.

Quote from dealz2012 : Charged a down payment on the car for 6000 (dealer ate that to make the end of the month deal). This was on a 0% card for 15 months plus 1% cash back. Financed through dealer for an incentive. When I refinanced I had pended cut me the difference in the loan and Max amount I could take. So in my case you would have about 8k to play with at 1.49% until you needed to clear the card off at about 15 months after. Barring you don't lose the investment.

Is there anything special I need to do when I apply to get that extra bit on the loan? Did you ask for a bit more than your dealer loan was for, or did they only ask you about the car and give you a max based on that?

Quote from Fare : Is there anything special I need to do when I apply to get that extra bit on the loan? Did you ask for a bit more than your dealer loan was for, or did they only ask you about the car and give you a max based on that?

I talked to a rep at pended and said I financed some on a credit card and some through the dealer. So she split the checks how I wanted.

Quote from dealz2012 : I talked to a rep at pended and said I financed some on a credit card and some through the dealer. So she split the checks how I wanted.

But you didn't have to tell her you put more on the credit card than you actually did or anything, they just offered you a little extra on the loan?

Quote from Fare : 80k in stocks averaging ~100% return annually so far.

At this rate you'll be a billionaire in less than 14 years. Sorry, I have to call BS.

Quote from vec : At this rate you'll be a billionaire in less than 14 years. Sorry, I have to call BS.

On what? Cause the 80k and return rate is simple fact and I never said I would be able to keep up the return rate....

Quote from Fare : But you didn't have to tell her you put more on the credit card than you actually did or anything, they just offered you a little extra on the loan?

The amount for your car loan is based on the car model and year. Whatever their number is the amount you can borrow regardless of what your financed previously.

Ok, thanks!