GM Financing - Early refinance

duquephart · June 16, 2019

3 hours ago, scdaren said:

Just bought a Chrysler and got a rebate for using their financing. The sales manager said I just needed to make at least 4 payments with them. When I made a point of confirming there was no prepayment penalty and that I had to do no such thing, he literally said, “Come on, you have to let us make at least some money on this deal!” They had discounted the van very heavily, I think relying on financing and other add-ons to make a profit.

And they wonder why folks think they're complete slimeballs.

scdaren · June 16, 2019

2 minutes ago, duquephart said:

And they wonder why folks think they're complete slimeballs.

Yeah. Picked up the car today, and after leaving the dealer noticed it only had a quarter tank of gas. Texted the sales guy guy to let him know they forgot to fill the tank. Apparently they only include 4 gallons with the purchase. I have bought many cars and it’s the first time I didn’t get a full tank. Pretty annoying, even if petty. They gave me a ridiculously cheap price on the car though, so I guess I’m still ahead.

duquephart · June 16, 2019

18 minutes ago, scdaren said:

Yeah. Picked up the car today, and after leaving the dealer noticed it only had a quarter tank of gas. Texted the sales guy guy to let him know they forgot to fill the tank. Apparently they only include 4 gallons with the purchase. I have bought many cars and it’s the first time I didn’t get a full tank. Pretty annoying, even if petty. They gave me a ridiculously cheap price on the car though, so I guess I’m still ahead.

I thought a full tank is standard. Might want to check with GM.

scdaren · June 16, 2019

Just now, duquephart said:

I thought a full tank is standard. Might want to check with GM.

This was a Chrysler. Doesn’t surprise me at all from FCA.

duquephart · June 16, 2019

7 minutes ago, scdaren said:

This was a Chrysler. Doesn’t surprise me at all from FCA.

Sorry. Knew it was FCA. Still think a full tank is standard, especially if new. Anything on the window sticker?

scdaren · June 16, 2019

2 minutes ago, duquephart said:

Sorry. Knew it was FCA. Still think a full tank is standard, especially if new. Anything on the window sticker?

Nope. When I bought my Chevy, I called ahead and gave them the vin of the truck I wanted to look at. When I arrived they had it pulled up to the front of the showroom with a full tank already in it. Pretty classy.

This FCA dealership I was at was like the Walmart of dealerships. Very high volume, very big discounts, thus very low margin. So I get that every dollar counts. And I bought a $50k minivan, the dealer gave me $6k, Chrysler another $2k, and I’ll get a combined $11800 in federal, state, and local government and power company rebates because it’s a plug in electric hybrid. So $30k for a $50k car. What am I complaining about right? (They didn’t charge the battery for me either.)

duquephart · June 16, 2019

11 minutes ago, scdaren said:

Nope. When I bought my Chevy, I called ahead and gave them the vin of the truck I wanted to look at. When I arrived they had it pulled up to the front of the showroom with a full tank already in it. Pretty classy.

This FCA dealership I was at was like the Walmart of dealerships. Very high volume, very big discounts, thus very low margin. So I get that every dollar counts. And I bought a $50k minivan, the dealer gave me $6k, Chrysler another $2k, and I’ll get a combined $11800 in federal, state, and local government and power company rebates because it’s a plug in electric hybrid. So $30k for a $50k car. What am I complaining about right? (They didn’t charge the battery for me either.)

"the dealer gave me $6k" ----- 12% from the dealer is great shakes? Everything else you would have gotten anywhere. Did you shop the deal?

Philipgonzales3 · June 16, 2019

58 minutes ago, scdaren said:

Yeah. Picked up the car today, and after leaving the dealer noticed it only had a quarter tank of gas. Texted the sales guy guy to let him know they forgot to fill the tank. Apparently they only include 4 gallons with the purchase. I have bought many cars and it’s the first time I didn’t get a full tank. Pretty annoying, even if petty. They gave me a ridiculously cheap price on the car though, so I guess I’m still ahead.

I felt pretty good because I got two full tanks of gas from my salesman. My trade in was also on E lol.

scdaren · June 16, 2019

9 hours ago, duquephart said:

"the dealer gave me $6k" ----- 12% from the dealer is great shakes? Everything else you would have gotten anywhere. Did you shop the deal?

Yeah for a Pacifica Hybrid it’s a great deal. Because there are so many government rebates dealers don’t discount them much. All my local dealers acted as if they were the ones giving me the rebates instead of my tax dollars, and I should be plenty thrilled to pay them sticker. I shopped a lot. Truecar pricing came close.

dtnel78 · June 22, 2019

FYI - Legal fees are NOT tax deductible. hahaha.. I actually asked about that for tax season this year, write offs have changed.

They're tax deductible if you exceed the standard deduction which was raised this year. What really pissed me off and no I don't drive anymore was they eliminated per diem from Truck Drivers who drive over the road along with unreimbursed employee expenses for things a employer may require that they don't supply. They basically just pulled a numbers game on everyone.

Also if you have enough money you'll hit that standard deduction especially someone who can write a check or take the rebates and still get the 0% financing.

Sent from my SM-N960U using Tapatalk

LumberMack · June 22, 2019

My ordered RST truck is almost at my local dealer. Can someone confirm that both "Purchase Bonus Cash" of $2750 and "Package Cash Allowance" of 2k are only applicable if you finance with GM Financial? Ive already started the process of applying for a loan from my local credit union. But if I lose this $4750, I guess it's worth it to do the GM loan and just refinance shortly thereafter. I just didnt want to go through the hassle of refinancing.

Was also wondering how some people were getting up to 12-13k off sticker (even top trims like AT4s)? My truck is currently listed with $9200 off. By ordering the truck, I dont really have room for much haggling/negotiation do I?

Found it interesting too that my truck isnt scheduled to reach the dealer until late next week, yet the truck is listed for sale on their website.

Thanks!

Brian

Bob2C · June 22, 2019

My ordered RST truck is almost at my local dealer. Can someone confirm that both "Purchase Bonus Cash" of $2750 and "Package Cash Allowance" of 2k are only applicable if you finance with GM Financial? Ive already started the process of applying for a loan from my local credit union. But if I lose this $4750, I guess it's worth it to do the GM loan and just refinance shortly thereafter. I just didnt want to go through the hassle of refinancing.

Was also wondering how some people were getting up to 12-13k off sticker (even top trims like AT4s)? My truck is currently listed with $9200 off. By ordering the truck, I dont really have room for much haggling/negotiation do I?

Found it interesting too that my truck isnt scheduled to reach the dealer until late next week, yet the truck is listed for sale on their website.

Thanks!
Brian

It’s hard to really negotiate them down if you ordered the truck. I just bought one recently. I searched throughout the country for what I wanted and played dealers off each other until I got the price I felt happy with. I was able to get 18k off sticker with 10k in rebates plus first responder discount, farm bureau discount and dealer discount. If your patient and willing to travel you can do really well. I found going to volume dealers helps tremendously. I did take the standard gm financing which was crazy high at 6.9% with credit score over 800. I bought truck on a Monday and refinanced on Friday with my credit union at 2.99%. I wasn’t about to give gm all that money back. If they game me a decent rate I would have stayed. Also keep in mind if you want an extended warranty you don’t need to buy at time of sale. There are plenty of dealers that will sell to you at costs way cheaper. And yes it’s the it’s the Chevy/gm protection plan. You can save about 1k bucks vs buying at your finance guy. Hope this helps

LumberMack · June 22, 2019

51 minutes ago, Bob2C said:

It’s hard to really negotiate them down if you ordered the truck. I just bought one recently. I searched throughout the country for what I wanted and played dealers off each other until I got the price I felt happy with. I was able to get 18k off sticker with 10k in rebates plus first responder discount, farm bureau discount and dealer discount. If your patient and willing to travel you can do really well. I found going to volume dealers helps tremendously. I did take the standard gm financing which was crazy high at 6.9% with credit score over 800. I bought truck on a Monday and refinanced on Friday with my credit union at 2.99%. I wasn’t about to give gm all that money back. If they game me a decent rate I would have stayed. Also keep in mind if you want an extended warranty you don’t need to buy at time of sale. There are plenty of dealers that will sell to you at costs way cheaper. And yes it’s the it’s the Chevy/gm protection plan. You can save about 1k bucks vs buying at your finance guy. Hope this helps

Thank you for the reply. You got a hell of deal with 18k off sticker. Thats awesome, hope you are enjoying the truck!

Bob2C · June 22, 2019

Thank you for the reply. You got a hell of deal with 18k off sticker. Thats awesome, hope you are enjoying the truck!

Yeah I really like it. Very comfortable. Especially when hauling the family.

Maize & Blue · June 24, 2019

Back to the original topic, I too just refinanced early without paying a single payment as I've done 3 times previously. In fact, GM Financial just sent me a check for $42 after the refinance was complete. I'm assuming it was the difference in the 10-day payoff check sent and the actual balance owed. Lowered the rate by almost 5%.