GM Financing - Early refinance

13nick13 · July 29, 2019

1 minute ago, scdaren said:

Lol, I am so not going to feel bad for a dealership because I bought a truck from them based on the contractual terms they offered me. We're all big boys here. Especially knowing how much they sold my trade for.

And I run a small family business. And I would never pull the kind of sneaky pricing and financing shenanigans on my customers that the car sales industry does on the regular.

The problem is... no one will go to the dealership who advertises REAL prices. you are doing it to yourself. Everyone wants a $200 a month lease on a new truck... so they advertise it, even though 3 people in the county can actually get that price. if we advertise the REAL price without gm employee discount, without lease loyalty, without all those qualifiers, NO ONE WILL SHOW UP! Wanna know how I know? WE'VE TRIED IT. People would rather be lied to about a good price and go in and get all pissed that they were lied to, than just go to the place that was honest and told you that the truck was going to be $350. Its the human condition. Want it all and not want to pay for it. If someone says you can have it all and not pay for it, you go there... even when you know its too good to be true. People who show up BLOWN AWAY that the price isnt what they saw in the ad confuse me.... like where have you been? this seems like common knowledge at this point...

13nick13 · July 29, 2019

9 minutes ago, KARNUT said:

WOW, the games. I always buy end of the year. Only use dealer finance if it’s 0 percent with the end of the year discounts. Otherwise I use my bank. I can’t believe what I’m reading.

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when you get 0% you give up all the rebates though. So really you only have the illusion of paying less.

scdaren · July 29, 2019

1 minute ago, 13nick13 said:

The problem is... no one will go to the dealership who advertises REAL prices. you are doing it to yourself. Everyone wants a $200 a month lease on a new truck... so they advertise it, even though 3 people in the county can actually get that price. if we advertise the REAL price without gm employee discount, without lease loyalty, without all those qualifiers, NO ONE WILL SHOW UP! Wanna know how I know? WE'VE TRIED IT. People would rather be lied to about a good price and go in and get all pissed that they were lied to, than just go to the place that was honest and told you that the truck was going to be $350. Its the human condition. Want it all and not want to pay for it. If someone says you can have it all and not pay for it, you go there... even when you know its too good to be true. People who show up BLOWN AWAY that the price isnt what they saw in the ad confuse me.... like where have you been? this seems like common knowledge at this point...

Like I said, don't hate the player, hate the game. The car and dealership industry are the ones who created this mess precisely from doing things like offering discounts then marking up financing. They have created a long tradition of putting dealers adverse to customers. We car buyers did not write these rules. If the industry wanted to put the actual fair price on the sticker and knock it off with all these discount and financing games, I think that would be great.

GM is one of the worst when it comes to all this stuff. They never put a real price on their vehicles, and put us through all sorts of games.

scdaren · July 29, 2019

2 minutes ago, 13nick13 said:

when you get 0% you give up all the rebates though. So really you only have the illusion of paying less.

Exactly. More smoke and mirrors. Always take the rebate and finance somewhere with competitive rates.

13nick13 · July 29, 2019

6 minutes ago, scdaren said:

Like I said, don't hate the player, hate the game. The car and dealership industry are the ones who created this mess precisely from doing things like offering discounts then marking up financing. They have created a long tradition of putting dealers adverse to customers. We car buyers did not write these rules. If the industry wanted to put the actual fair price on the sticker and knock it off with all these discount and financing games, I think that would be great.

GM is one of the worst when it comes to all this stuff. They never put a real price on their vehicles, and put us through all sorts of games.

its beyond that. They make the rebates SO DIFFICULT to dissect. They leave little traps and when you find out you gave a customer a rebate and you didn't see they had to have a 1992 for escort in the driveway, you cant call the customer and say "oops we gave you a rebate we shouldn't have" no... you just have to eat it. Be mad at GM... but please... don't be mad at the dealership... unless they straight up lie or break your car or something obviously. Ask ANYONE who works in a car dealership. We hate it too. But its our lively hood, and we don't make the rules, we just play by them.

13nick13 · July 29, 2019

8 minutes ago, scdaren said:

Exactly. More smoke and mirrors. Always take the rebate and finance somewhere with competitive rates.

100%!!! but that guy was like " i never buy unless its 0 percent" like he's getting a great deal... he didn't even realize he probably paid the exact same in the end... its all about perception. GM always gets theirs.

13nick13 · July 29, 2019

My dream would be Chevy stores like Apple stores. Everything is the same price at every store. Can i get a discount on the new iphone? NOPE. and they wont give you one over there either. Then people could focus on whats really important... DO YOU LIKE THE CAR? too many people buy based on a payment. I buy stuff I like.

Bob2C · July 29, 2019

Maybe they should follow the Tesla model. Buy on internet. That’s the price. Period. No bs back and forth

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13nick13 · July 29, 2019

1 minute ago, Bob2C said:

Maybe they should follow the Tesla model. Buy on internet. That’s the price. Period. No bs back and forth

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check my last comment. that's exactly how i wish it was.

OnTheReel · July 29, 2019

28 minutes ago, 13nick13 said:

My dream would be Chevy stores like Apple stores. Everything is the same price at every store. Can i get a discount on the new iphone? NOPE. and they wont give you one over there either. Then people could focus on whats really important... DO YOU LIKE THE CAR? too many people buy based on a payment. I buy stuff I like.

The issue with that business model is twofold. First, the public is so used to haggling on vehicles that it would cost you a lot of deals holding firm on price, even if the price is a great value and say 10k under the “old MSRP”.

Couple that with the fact that you have Ram advertising 20-30% off and not many people would show up at a Chevy dealer, even if the sale price was competitive or better than Ram as far as value.

Lots of companies tried and failed this method. It works okay for Apple because their product is so unique. It failed for JCPENNEY because when they stopped running sales and marketed everything as an “every day low price”, the sheep people just went to other places where items are marked up just to be put on sale.

People are dumb, need to feel like they are getting a deal even if they aren’t, and that’s not gonna change.

13nick13 · July 29, 2019

Just now, OnTheReel said:

The issue with that business model is twofold. First, the public is so used to haggling on vehicles that it would cost you a lot of deals holding firm on price, even if the price is a great value and say 10k under the “old MSRP”.

Couple that with the fact that you have Ram advertising 20-30% off and not many people would show up at a Chevy dealer, even if the sale price was competitive or better than Ram as far as value.

Lots of companies tried and failed this method. It works okay for Apple because their product is so unique. It failed for JCPENNEY because when they stopped running sales and marketed everything as an “every day low price”, the sheep people just went to other places where items are marked up just to be put on sale.

People are dumb, need to feel like they are getting a deal even if they aren’t, and that’s not gonna change.

DING DING DING DING DING! WE HAVE A WINNER!

KARNUT · July 29, 2019

when you get 0% you give up all the rebates though. So really you only have the illusion of paying less.

No,not always. There’s dealers advertising now. 0-72 plus discounts. With this being a slow sales year they’ll be more around September. As I said if the discounts are higher I finance at my bank.

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13nick13 · July 29, 2019

8 minutes ago, KARNUT said:

No,not always. There’s dealers advertising now. 0-72 plus discounts. With this being a slow sales year they’ll be more around September. As I said if the discounts are higher I finance at my bank.

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Every dealership is playing with the same deck of cards brother. No one has more rebates than anyone else. Some dealers are just willing to lose more money on the sale and hope for the payout if they hit their unit bonuses with chevy. if you ever hear an advertisement for one dealer advertising "employee price for everyone" they are using rebates to do it. No store has magic rebates as good as much as they will make you believe that they do.

KARNUT · July 30, 2019

Every dealership is playing with the same deck of cards brother. No one has more rebates than anyone else. Some dealers are just willing to lose more money on the sale and hope for the payout if they hit their unit bonuses with chevy. if you ever hear an advertisement for one dealer advertising "employee price for everyone" they are using rebates to do it. No store has magic rebates as good as much as they will make you believe that they do.

As I said they started already and will get better. We have one dealer owners group offering warranty forever on all their brands. You know a manufacturer doing that? Brother.

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Dmart · July 30, 2019

If you wait the 6 months to refinance you'll have to pull your credit TWICE for the purchase of one vehicle. That imo is a bigger deal than the money you'll be losing especially if you plan on taking out a loan or line of credit shortly after.