Can you please offer some advice on my upcoming Rebel purchase?

[kwilson0288]

Hey All!

I've been planning the purchase of a 2020 Rebel for quite some time now and these forums have given me so much information. Seriously, THANK YOU for all of the insight because it's really taught me a lot. I'm ready to purchase this month and I'd appreciate your advice on how the rebates, incentives and employee pricing work. From reading the main thread about what you all have paid for your trucks, I'm going by the assumption that it would be a great deal if I can get about 25% off MSRP (before TTL). My grandfather worked for Chrysler for a long time so I have received an FCA control number. Are dealerships reimbursed a certain amount from FCA when they use a control number? If so, should that make it easier for a dealership to negotiate with me and get me to my target price? Would I lead with this information or is it best that I not disclose until late in the pricing discussion?

I'm currently looking at a particular 2020 Rebel with MSRP of around $61k. I believe it's been on the lot for awhile as I've seen the listing for quite some time. I'm hoping to get them down to around $45k (before TTL), throw in black side steps and the trailer brake control and take advantage of the 0% financing for 72 months (if it's still offered in June). Also, I'd like to make the negotiations and finalize the deal this weekend but provide them a deposit until I can pick up the truck in a few weeks. Does this all sound realistic with my control number, dealer discounts and incentives? This is my first new vehicle purchase so I really appreciate all of your feedback!

 

[gf2020]

The June incentives will be published tomorrow, June 2. Based on the May incentives, however, no, you would not be able to get that deal. 25% off sticker plus the 0% financing is not happening.

 

[drewweglein]

Yeah man, just got MSRP 62k fully loaded 12 inch screen, HK sound, safety package, moon roof, etc. you have to choose one or the other. I did the 0% financing cause if you take the rebates, you have to take their loan which they will earn back the rebates over the course of the loan at like 4% APR or whatever it is. No money down, no interest and no pAyments for 3 months is cool. Just sucks the payment is $860 for 7 years! basically my mortgage


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[STR]

Unfortunately you can’t get the rebates and 0% financing together.

 

[J-Cooz]

Damn, you guys are getting screwed in the US. They have employee pricing plus 0% here in Canada.
Granted, a fully loaded limited is 90k here.

 

[ktl5005]

Yeah man, just got MSRP 62k fully loaded 12 inch screen, HK sound, safety package, moon roof, etc. you have to choose one or the other. I did the 0% financing cause if you take the rebates, you have to take their loan which they will earn back the rebates over the course of the loan at like 4% APR or whatever it is. No money down, no interest and no pAyments for 3 months is cool. Just sucks the payment is $860 for 7 years! basically my mortgage


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That and at MSRP your already under water on the loan compared to worth of the vehicle. It's usually better to take the incentives and get a 3-4% interest loan....

 

[drewweglein]

That and at MSRP your already under water on the loan compared to worth of the vehicle. It's usually better to take the incentives and get a 3-4% interest loan....

K...Mr. Finance, don’t put out information that is incorrect for people out here that aren’t financially savvy. The incentives would have only dropped the vehicle down AT MOST, 55k. And that’s if you truly get the best deal or get the dealer to stretch (which is not guaranteed). In order to get those incentives, you have to finance through Chrysler capital which was 4.88% APR. So, 4.88% apr on a 55k vehicle over 7 years is just over 65k for the total cost in that scenario. With 0% APR, and getting the truck at 62k MSRP, it is clearly the better deal. Don’t muddy the waters on a forum for folks who don’t know what they are doing. I’m right, your wrong. Check the facts. I guess my 806 credit score means nothing...


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[ktl5005]

K...Mr. Finance, don’t put out information that is incorrect for people out here that aren’t financially savvy. The incentives would have only dropped the vehicle down AT MOST, 55k. And that’s if you truly get the best deal or get the dealer to stretch (which is not guaranteed). In order to get those incentives, you have to finance through Chrysler capital which was 4.88% APR. So, 4.88% apr on a 55k vehicle over 7 years is just over 65k for the total cost in that scenario. With 0% APR, and getting the truck at 62k MSRP, it is clearly the better deal. Don’t muddy the waters on a forum for folks who don’t know what they are doing. I’m right, your wrong. Check the facts. I guess my 806 credit score means nothing...


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It’s called refinance after the first few payments so the dealership can get their share...

ok you paid $62k with. What’s your loan value vs trade? Your underwater more than likely.....

And yes, I am financially savvy with my 878 credit score when they ran it for my 2019 1 month ago.......

 

[ktl5005]

K...Mr. Finance, don’t put out information that is incorrect for people out here that aren’t financially savvy. The incentives would have only dropped the vehicle down AT MOST, 55k. And that’s if you truly get the best deal or get the dealer to stretch (which is not guaranteed). In order to get those incentives, you have to finance through Chrysler capital which was 4.88% APR. So, 4.88% apr on a 55k vehicle over 7 years is just over 65k for the total cost in that scenario. With 0% APR, and getting the truck at 62k MSRP, it is clearly the better deal. Don’t muddy the waters on a forum for folks who don’t know what they are doing. I’m right, your wrong. Check the facts. I guess my 806 credit score means nothing...


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And just for reference the 2019 CPO I bought was fully loaded with ORG and MSRP of 65k, one year later with 15k miles I bought it for $47k, which means on trade the previous owner likely got 42k to 43k. No way your 0% loan is going to be down 20k in 12 months. Your underwater......

 

[Neurobit]

It’s called refinance after the first few payments so the dealership can get their share...

ok you paid $62k with. What’s your loan value vs trade? Your underwater more than likely.....

And yes, I am financially savvy with my 878 credit score when they ran it for my 2019 1 month ago.......

The max your credit score can be is a perfect 850... Just sayin’

 

[ktl5005]

The max your credit score can be is a perfect 850... Just sayin’

Wrong.New federal law and changes in credit scores have it up to 900 now. Go Google it

 

[drewweglein]

And just for reference the 2019 CPO I bought was fully loaded with ORG and MSRP of 65k, one year later with 15k miles I bought it for $47k, which means on trade the previous owner likely got 42k to 43k. No way your 0% loan is going to be down 20k in 12 months. Your underwater......

I don’t believe we were discussing purchasing a “USED” Ram? We were discussing purchasing a brand new 2020 Ram pickup and he was asking what made the most sense in terms of financing, etc. Yeah, no crap I’m “underwater.” But that’s the price you pay for wanting a brand new truck that no other person has had their hands on.....
I don’t plan on trading mine in. I plan on keeping it because it’s my third vehicle and only car payment.


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[drewweglein]

Wrong.New federal law and changes in credit scores have it up to 900 now. Go Google it

ok...


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[drewweglein]

It’s called refinance after the first few payments so the dealership can get their share...

ok you paid $62k with. What’s your loan value vs trade? Your underwater more than likely.....

And yes, I am financially savvy with my 878 credit score when they ran it for my 2019 1 month ago.......

My loan value? Dude it’s 0% financing—I’m not trading the vehicle and will drive it until the wheels fall of. It’s not my primary vehicle. Different strokes for different folks. You clearly don’t get the point of this conversation. If you need help assessing your purchase (which you clearly need to do), I can def help ya out cause you seem misinformed. There is a penalty for paying the loan off from Chrysler capital and as well headache/additional expense for refinancing if you went that route after taking the incentives. It isn’t “better to take their financing and incentives.” If you take the incentives they make that back, then some over the course of the loan through their financing. I got the best available deal for my situation. End point.


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[Neurobit]

Wrong.New federal law and changes in credit scores have it up to 900 now. Go Google it

Nope. You're talking Vantage, which is what all the "free" credit sites work on. Lenders all use FICO, which tops out at 850...
You're welcome.

 

[ktl5005]

Nope. You're talking Vantage, which is what all the "free" credit sites work on. Lenders all use FICO, which tops out at 850...
You're welcome.

Well that’s interesting because my credit score paper from the dealership said 878

 

[Neurobit]

Well that’s interesting because my credit score paper from the dealership said 878

Good for you. That's still a great score nonetheless.

 

[Downytide]

Damn, you guys are getting screwed in the US. They have employee pricing plus 0% here in Canada.
Granted, a fully loaded limited is 90k here.

The one we have is NOT employee pricing, I had used my EP Codes when I bought my truck, it was 73k MSRP and taxed in was 52k, the very same truck now is 61k because they've stopped accepting the EC codes and EP codes, in short, they said its employee pricing, its not, it actually much higher, about 6-8k higher than even in April, just now you can get 0% for 84months.

 

[PwrdbyM]

I'm not sure what's the point of arguing over financing when it's a simple math problem for each individual. OP, go to your local credit union and get pre-approved (if you have good credit you can just look up the current rates), then you have a baseline to go from. Download a loan calculator app on your phone for quick reference (one that spits out total interest and total paid).

Some things to consider:
You will loose most (but not all depending on region/qualification) of the cash incentives by taking the 0% loan option through Chrysler Capital
The 0% option is for those with good credit scores, not everyone qualifies
You will loose some (not all) of the cash incentives if you do take them (in lieu of the 0%) and don't finance through Chrysler Capital
You can initially finance through Chrysler Capital to get all the rebates and then refinance through a lender of your choice

With that in mind negotiate the sale price of the truck prior to incentives (what the dealer is discounting, not FCA) then you have options.
Do the math for the 0% option on your loan calculator
Do the math with all incentives included at Chrysler Capital's best rate (option to refinance)
Do the math with some incentives at your credit union/lender rate

Choose the best one!