Financing and pricing question

[Ctmaz68]

Ok, so I have my truck on order, no ETA yet. I have an affiliate pricing number, which gives me 1% below invoice when I finally do the deal. My dealer has told me that in order to use the discount, I will need to finance through Chrysler Capital and only put 10% down payment, then I would need to make at least 4 payments on that loan before I could refinance with another lender. Is this true? As of right now, they put a rate of 4.49% for the financing, I assume that is based on my current FICO score. I am expecting my score to increase between now and the time I take delivery, so I am hoping my rate goes down by then, as well as other incentives or rebates that may become available at the time. When I get closer to delivery, I was planning on checking with a couple of credit unions to seek out a better rate, but if they won't give me the affiliate pricing, I guess I'm stuck financing through Chrysler and then refinance the loan after 4-6 months, provided I can get a better rate. I also expect to be able to use the threat of refinancing the loan immediately after purchase to prevent them from jacking me around in the finance office. If they are fair with me, I'll go along with the game and let them get their commission. Please, anyone who has had experience with this let me know if what they say is accurate and if my plan is sound.

 

[Dontra]

This is pure BS. Cancel the order and call Mark Dodge, he will beat this all to hell

 

[UnloosedChewtoy]

My dealer has told me that in order to use the discount, I will need to finance through Chrysler Capital and only put 10% down payment, then I would need to make at least 4 payments on that loan before I could refinance with another lender. Is this true? As of right now, they put a rate of 4.49% for the financing,

I am pretty sure the 10% down payment piece is crap, but I know the four payments part is B.S. Many dealers tell you that, regardless of affiliate pricing or not, because if you refinance or pay it off before the 4th payment, they do not get their portion of the "kickback" from the finance company. Unless they have you sign a form they specifically did themselves for that purpose, you will see no where in the paperwork does it say you have to wait until the 4th payment. (Most do not.)

Many of us here have refinanced before the 4th payment.

That all being said, if you can wait a bit more, I'd follow Dontra's advice above.

 

[Ctmaz68]

Anyone in particular I should speak with at MD?

 

[TTFD753]

Aaron Ginsburgh/Sandi/Rene

Mark Dodge

[email protected]

[email protected]

[email protected]

[email protected]

 

[User_3336]

Most of that is pure B/S. You can pay off the loan with CCAP as soon as you get your account number.

Dealer loses his kickback if you pay it off early.