Xoexpireu
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It is 84 i figured thats why it was that high
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Price negotiated from MSRP
- Thread starter Jared B
- Start date
Roddog2220
Well-Known Member
and that might have been the best they could do thats why you want to shop, but if they did shop for you as they should, i know my dealer did then they have to offer you the best rate they can find, so its not a bad idea to go in there already knowing what rate you can get through capital one or others so you know if they rate they offer is bs or not
Roddog2220
Well-Known Member
i guess, thats the problem when you go in there and they say what do you want your payment to be, i always say i dont care i want the best deal and the best rate
SilverSurfer15
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Yea couple things:
1) Chrysler or ford or GM financing is always high. don’t use it. If you have to use for the rebates, refinance immediately as someone else suggested. Like the Next day even. Some dealers will say you have to keep it 90 days or some other bs. Thats because the dealer gets a kickback on each financing deal they do, but if the account doesn’t stay open for X amount of days then they don’t get said kickback. You can refinance at any time, you don’t lose or repay rebates because you closed the account before 90 days.
2) the lower the loan length, the lower the apr. 60 month loans are around 2.5% right now, 72 around 3%, and 84 is usually 4-6% range
3) 84 is the WORST loan to take and should be avoided by everyone. If you can’t make the payments at 72 months or less, you should avoid it.
4) the finance people will definitely try to scam you. As mentioned, they make money on the loans they sell. I’ve been told several times “we will take another 1k dollars off the price if you use tour financing”. But their rates are always garbage.
5) navy federal has great rates if you can use them. Otherwise just shop some credit Unions. But again, avoid the 84 months.
1) Chrysler or ford or GM financing is always high. don’t use it. If you have to use for the rebates, refinance immediately as someone else suggested. Like the Next day even. Some dealers will say you have to keep it 90 days or some other bs. Thats because the dealer gets a kickback on each financing deal they do, but if the account doesn’t stay open for X amount of days then they don’t get said kickback. You can refinance at any time, you don’t lose or repay rebates because you closed the account before 90 days.
2) the lower the loan length, the lower the apr. 60 month loans are around 2.5% right now, 72 around 3%, and 84 is usually 4-6% range
3) 84 is the WORST loan to take and should be avoided by everyone. If you can’t make the payments at 72 months or less, you should avoid it.
4) the finance people will definitely try to scam you. As mentioned, they make money on the loans they sell. I’ve been told several times “we will take another 1k dollars off the price if you use tour financing”. But their rates are always garbage.
5) navy federal has great rates if you can use them. Otherwise just shop some credit Unions. But again, avoid the 84 months.
Roddog2220
Well-Known Member
i looked at some 19 fords today, they are offering 0 for 72 months plus some rebates but its still a ford, they need a redesign bad
Vols1018
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20's but Fords prices are absurd anyways
Jrsem0317
Active Member
You should feel shafted by whomever gave you that rate if your credit is good. You should also feel shafted by whomever told you 860 as the scores stop at 850.
Granite2WD
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In Ohio, the interest rate can legally be marked by the dealer up to 1% above the rate offered by the lender. I ask for the "call back" sheet to see what the lender offered and I ask how much the dealer is marking up the rate. Every time I've asked, they've had the markup at the full 1%. This, like everything, is negotiable.
ktl5005
Well-Known Member
Looks like dealer discount only. If your taking the 0% for 84 months then you will not get any factory discounts from Ram.
Jrsem0317
Active Member
You are correct. I bought last Wednesday and I could pick between dealer sale and 0% for 84 or dealer sale + rebates. I qualified for $7,500 in rebates. To compare apples to apples a 84 mo loan at 3.89 was going to be about $7,500 in interest making the total 84 mo cost almost exactly the same regardless of which incentive. In my case I took the rebates because I trade every 24-36 mo. In this instance I've only paid the first part of the interest vs the $7,500 higher purchase price, making for about $3k less payoff after 36 mo.
Roddog2220
Well-Known Member
ive only seen 7500 in rebates on 2 wheel drive, what year did you get
Roddog2220
Well-Known Member
in texas i think they can go up to 2% and they sure will if they dont think you know what you are doing, they can mark up the rate but they cannot lie about offering you the best rate they find, its called truth in lending
ktl5005
Well-Known Member
I know a lot of people think 84 month loan is bad, but if you have excellent credit score, make payments and put money down/trade so you aren't under water there is nothing wrong with it. Not everyone can afford a 55k truck marked down to 44k at 72 months or even less. The majority of people buying these things are at least 72 months in loan terms. The more expensive the vehicles get, the longer the term rates are going to be. I for one am in a 84 month loan on my 2017 Trailhawk, but am not under water, and put down extra monthly, along with have a 3.8% rate on it. IF ram decides to offer incentives PLUS 0% for 84, I am all in on a new Laramie, with sport appearance package, level 1 group, etcetc, but refuse to pay over 50k for one
Jrsem0317
Active Member
Sorry, I lied......$8,250 in rebates. '20 Limited Crew 5'8" 4x4. Ill see if I can find and figure out how to load the dealer sheet. MSRP was 69,170 and I was otd for about $56,500.
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BlackBeauty14
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Auto Enhanced Credit Scores go up to 900
Jrsem0317
Active Member
Interesting, never heard of it. Sounds like the NADA of credit scores.
Jrsem0317
Active Member
Not sure why their worksheet doesn't show MSRP, just sale price.
Attachments
ktl5005
Well-Known Member
Holy negative equity/underwater batman
Jrsem0317
Active Member
Traded in a '18 Denail that had 11,996 miles on it. I was tired of that POS and was well worth the 4k to get out of. I gladly wrote a check to settle up on it and not bury the negative equity. Was basically a 21 mo lease with my deposit at the end instead of at purchase.
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Roddog2220
Well-Known Member
hard to tell but if you got that much in rebates then you got hardly any dealer discount
