Hey guys,
I just reserved a used RAM 1500 sport with a dealer 2.5 hours away. I'm going down to see it tomorrow. It has 28,000km on the clock and I managed to get from $54,777 CAD down to $52,777 CAD & $200 delivery fee. I have no idea if that is good or not.
I worry that I am walking into the lions den as the Chrysler finance manager is throwing figures at me over the phone. OK so here are his 2 options:
Option 1: $383 biweekly for 84 months at 5.99%. This includes factory warranty for x3 years and tire rotations, bump and scratch fixes, and free oil changes for x5 years.
Option 2: If I say I don't want warranty crap then suddenly I don't qualify for the "VIP special deal" good rate that's "only on this month" and I'm bumped up to $382 biweekly for 84 months @ 8%
Hmm... doesn't make sense. I'm clearly being forced into option 1 since they come out the same price, and he even says things like "ok ill put you down for it for now and you can change your mind later - alarm bells" but I can't see the path around it or what I'm missing. It doesn't make logical sense to pick option 2 on paper. Which is why I know it's a trick.
What can I do? My thoughts are that maybe I could pick option 2 and then just pay off the truck quickly in a year so the interest doesn't have much say.
The other option would be to take Option 1 and then within 30 days after owning, cancel the warranty which I think you can do. They will be pissed. They might say I have to come sign the papers for that which would be a 2.5 hour trip to sign a bit of paper.
Are there things I'm missing? How do I get out of the trap that I can't see the door?
I just reserved a used RAM 1500 sport with a dealer 2.5 hours away. I'm going down to see it tomorrow. It has 28,000km on the clock and I managed to get from $54,777 CAD down to $52,777 CAD & $200 delivery fee. I have no idea if that is good or not.
I worry that I am walking into the lions den as the Chrysler finance manager is throwing figures at me over the phone. OK so here are his 2 options:
Option 1: $383 biweekly for 84 months at 5.99%. This includes factory warranty for x3 years and tire rotations, bump and scratch fixes, and free oil changes for x5 years.
Option 2: If I say I don't want warranty crap then suddenly I don't qualify for the "VIP special deal" good rate that's "only on this month" and I'm bumped up to $382 biweekly for 84 months @ 8%
Hmm... doesn't make sense. I'm clearly being forced into option 1 since they come out the same price, and he even says things like "ok ill put you down for it for now and you can change your mind later - alarm bells" but I can't see the path around it or what I'm missing. It doesn't make logical sense to pick option 2 on paper. Which is why I know it's a trick.
What can I do? My thoughts are that maybe I could pick option 2 and then just pay off the truck quickly in a year so the interest doesn't have much say.
The other option would be to take Option 1 and then within 30 days after owning, cancel the warranty which I think you can do. They will be pissed. They might say I have to come sign the papers for that which would be a 2.5 hour trip to sign a bit of paper.
Are there things I'm missing? How do I get out of the trap that I can't see the door?