What was your interest rate when you financed your new ram?

[Rlaf75]

My credit score is 830 and got 3.5% through Wells Fargo. Not my first choice in financial institutions but I'm ok with rate since they didnt offer 0% at the time of my purchase

 

[dbark]

not sure if this is true or not but was told by one dealer that you can't have the manufacture rebates and 0% apr. its one or the other. This weekend I will research around as I would be more satisfied to have a 2% or lower interest rate.

I was told the same but I was able to offset much of it with more money on my trade in, all I care about is the bottom line price, I don't care how they get there.

 

[Idahoktm]

I’m relatively certain it is based not only upon credit score but also LTV and ultimately how badly the dealer hosed us on the front end of the deal. I see the F&I department as the “true up” group in the dealership where they make up for any profits lost or given away on the front end of the deal. A dealer can claim to give you a dealer discount on the front end only to make it back up in the F&I office.

Sure, one can tout 0 for 60 or 1.9 for 72 but in the end (just like casinos) you can bet your backside the dealership NEVER loses a penny.

Credit score? Yes. The other two? No. After I secured the 0% financing, they asked if I was putting any money down or if I was going to finance the entire amount.

Just because someone secures 0%, it doesn't mean they lost their rear end somewhere else. I know my dealer made a profit on my sale but at ~10% off, I certainly don't feel like I got hosed.

 

[SSW]

Early May of this year, I bought at 2021 Ram Laramie I got 0% for 72 months with Chrysler Capital after trade in valued at 17K. Credit score was over 800.

 

[NorthStar]

Credit score? Yes. The other two? No. After I secured the 0% financing, they asked if I was putting any money down or if I was going to finance the entire amount.

Just because someone secures 0%, it doesn't mean they lost their rear end somewhere else. I know my dealer made a profit on my sale but at ~10% off, I certainly don't feel like I got hosed.

Then your dealer did his job...you walked out feeling like you weren't hosed. For the rest of us, we all admit we're Ram Ho's (yep, there are Chevy Ho's, Toyota Ho's and the worst kind of Ho - a Ford Ho) who get screwed every time we walk into the dealership. We all know we got screwed but simply don't know how much money was left on the table - except for the Ford Ho who I believe we all agree they lost not only money but also their dignity just walking into a Blue Oval store!

 

[Mb7640]

My rate is 1.8 percent for 72 months my credit score is 830

 

[GFK51]

My rate is 1.8 percent for 72 months my credit score is 830

 

[GFK51]

Purchased a 21 Limited Longhorn 10 year anniversary edition from Koons Ford in February of this year. Finance office is a horror show, wanted 0% financing as I have an 860 credit score. They played games and said they had a problem with my social security number. Would not give me a 0% deal, gave me a 4.49 finance deal. When I balked at this rate they told me I only had to make a couple of payments and then I could refinance. I refinanced a week later for a 2.49 rate at my credit union. My credit union of course did not have a problem with my credit union. The finance office at Koons is based on lies and deceit. If you look at their reviews you will discover that I am not alone.

 

[JoeCo]

I can guarantee the people who got 0% paid a heck of a lot more for their trucks ! You have to pick & choose what's more important to u. Either u get a really good price on your truck, good trade in value, or good interest rate. U will NEVER get all 3. Maybe 2 out of 3 if u know how to wheel & deal. The dealership is always going to make money some way. I got my Big Horn Level 2 for $40k with LED light package & a free roll up cover. I got $17k for my 2013 Ram BH level 1 with 72,000 miles on it which was at the top end for good to very good condition. I got screwed on my interest rate at 4.99% thru Chrysler Capital but I didn't care. I paid the truck off in 14 months !! They made about $700 in interest off me is all.

Eh I came pretty close...16% off msrp (that could be higher but not bad) with 0% and an extra $8,000+ for my trade in. At the time of my order (march 2021) my trade in value was $30,000, two months later while waiting for the new truck to be built, I sold it myself to autonation for $38,250. At the time of delivery of the new truck, the rebates weren't great (around $1,000-$1,250?) so it was a no brainer to go for the 0% which saves a lot more than that even in the first few years of the loan. The timing all worked out right with the market going crazy, but overall I was very pleased with how things worked out in this deal. Maybe a little more legwork/research than most people would like, but it's not impossible to get all 3 or nearly. Did lose out on the sales tax trade in credit, but I was happy to do so with the additional $8,000+ from my trade in.

At the end of the day, we financed 15k at 9%. On the first payment, we paid off 13.5K, so we are only paying 9% on the remaining $1500. If I actually run out the payments 6 months and then pay it off, I will have spent about 500 bucks in interest and we got $750 off on the purchase price, so it would be a net positive. I would just rather pay it off and be done with it.

Agree with the others, that's so shady and I would pay it off immediately. Then promptly share your story via review on every car buying website I could find, and of course their google/yelp etc reviews as well. Try to help some other people so they don't waste their time with a dealership like that. Sorry to hear of your unpleasant experience with them, glad you're in a position to not get screwed by it at least.

 

[Derlant1983]

I ordered December 2018 when 0% was advertised. Truck was delivered February 2019 and they somehow still gave me the 0% that expired January 2019. Wasn't expecting them to be able to do that but obviously Bonus!

 

[GFK51]

Purchased a 21 Limited Longhorn 10 year anniversary edition from Koons Ford in February of this year. Finance office is a horror show, wanted 0% financing as I have an 860 credit score. They played games and said they had a problem with my social security number. Would not give me a 0% deal, gave me a 4.49 finance deal. When I balked at this rate they told me I only had to make a couple of payments and then I could refinance. I refinanced a week later for a 2.49 rate at my credit union. My credit union of course did not have a problem with my credit union. The finance office at Koons is based on lies and deceit. If you look at their reviews you will discover that I am not alone.

Sorry, purchased from Koons Ram, Tysons Corner, VA.

 

[paulmarsh22]

Paid 63k on a 74k sticker price and got 2.9% through Wells Fargo with 845 score for 60 months. I would've got 0% but then I wouldn't have gotten the employee pricing or other incentives. Ended up refinancing after my 6th payment and got 1.9% for 48 months through a credit union.

 

[lkjk]

I can guarantee the people who got 0% paid a heck of a lot more for their trucks ! You have to pick & choose what's more important to u. Either u get a really good price on your truck, good trade in value, or good interest rate. U will NEVER get all 3. Maybe 2 out of 3 if u know how to wheel & deal. The dealership is always going to make money some way. I got my Big Horn Level 2 for $40k with LED light package & a free roll up cover. I got $17k for my 2013 Ram BH level 1 with 72,000 miles on it which was at the top end for good to very good condition. I got screwed on my interest rate at 4.99% thru Chrysler Capital but I didn't care. I paid the truck off in 14 months !! They made about $700 in interest off me is all.

False, depends on the dealer. I got 0% and 21% off my Laramie in Feb, no trade.

 

[jimothy]

For the rest of us, we all admit we're Ram Ho's (yep, there are Chevy Ho's, Toyota Ho's and the worst kind of Ho - a Ford Ho)

The proper term for that worst kind is FoMoCoHo.

 

[Johnnyb001]

False, depends on the dealer. I got 0% and 21% off my Laramie in Feb, no trade.

Depends on manufacturer and what the clauses in their incentives are at the time of order/delivery.
Most of the time the 0% (from the manufacturer) and the manufacturer rebates are exclusive of each other, however I know for a fact Ram (Chrysler) allowed them to be combined during some promotions recently (within the past 24 mo)

lots of people combine the dealer discount with the manufacturer discount and look at it as a whole, when in fact the only one negotiable (at least until recently) is the dealer discount, the manufacturer rebate SHOULD be automatically given to any qualifying purchaser (unless it is exclusive to the promo interest rate and the customer chooses that)

the reason Mark Dodge is so tough to beat is that they do DEEP dealer discounts and likely are losing a bit of money on the initial sales of many of their trucks, but make it back up in the sales incentives that they get back from the manufacturer (which we don’t get to see) manufacturers have sales goals set for dealerships, on a monthly/quarterly/yearly basis, which is why traditionally these times (EoM/EoQ/EoY) are the best times to buy a new vehicle, catch a dealer that is really close to hitting their goal on the last day or so of that period and you can get them to cut an amazing deal on a vehicle, just to hit that goal and qualify for the manufacturer incentive.

 

[tom318]

I lost a $500 rebate in order to take the 0% at the time I picked my truck up. Ended up with 0% for 60 and some rebates still qualified. I'm glad I ordered when I did! 65k Sticker and walked out $60k out the door with 0 for 60! Total of about $9500 off. Since I ordered they knew I was taking the truck so they had all the paperwork done and ready to sign at 4.5% for 72 (800credit). They never asked me a single question. I said "why the **** would I take that if RAM is offering 0%?" The response, " Oh we didn't realize that, its the 1st of the month and maybe that's new. Would you prefer that instead? You will need to wait a bit because we need to redo ALL the paperwork". I respond with, " you should have asked, and I have all day to get this right."

 

[brenan00]

Ordered on May 5th was going to pay sticker, and put 58k down. A week later found the forum and affiliate pricing. Called the sales guy, no problem. Mined for all the coupons I could find, found 3500 in the end I could only use 1500 of what I found. The truck arrives, I go in at 10, write a check for 57k, go to the finance office “ the guy says so you’ve had great credit forever” so he gave me the 0 for 48 for the remainder which I added ppf, ceramic tint and windows for the new truck and my wife’s new Mazda. Out the door at 10:30. So we got the truck for 58k sticker 70k, 0 for 48 on 10k, and no trade in. I didn’t plan any of it, it just fell into place, I got lucky. This is the first time I have bought a new car, I have alway driven company cars. Later

 

[SBrentnall]

I lost my $1000 Pen Fed rebate in order to keep the 0% / 72 that was locked in when I placed my order in April. But I paid $11k under MSRP and $4k under invoice.

 

[66Fuelie]

I bought my limited on 6/24/21, credit was 852, interest was 2.8%. Kinda feeling like I got screwed with some of the lower rates on here. My Sticker was just over $68K and got it for $67K.
At the time I was buy there were virtually no new limited's anywhere in my area. Thats why they didn't discount off the sticker much.
Normally I would payoff my loan within a few months but I can make more money investing the money I would use to pay it off I think.
Tom

 

[paulmarsh22]

I bought my limited on 6/24/21, credit was 852, interest was 2.8%. Kinda feeling like I got screwed with some of the lower rates on here. My Sticker was just over $68K and got it for $67K.
At the time I was buy there were virtually no new limited's anywhere in my area. Thats why they didn't discount off the sticker much.
Normally I would payoff my loan within a few months but I can make more money investing the money I would use to pay it off I think.
Tom

Yeah with the limited inventory you'll be lucky to get many incentives or deals at all right now. I've gotten a couple offers from dealerships trying to buy my truck back for more than I owe on it.