Well, got close to purchasing today, but then......

dang reading people getting 4 and 5k off msrp is great. I wish I could of gotten anywhere near that. I didn't do so good then at all. oh well

 

LOL, this is literally a thread about how certain incentives are available only if you dont pay cash.

I understand the sentiment, but there are incentives for dealers on financing. You catch a dealer in a position where they need a few more financed deals to get a bonus or to hit a target and they'll take a huge hit on a deal to sell you a financed vehicle.

Think of it this way. If I tell you I will give you a $1 million dollar bonus if you sell 10 widgets (as long as they were financed) and each widget costs $100K and you've sold 9 widgets! You are sitting on a cool $900K in the bank, and if you sell ONE more widget you get that bonus $1mil. BUT, the 10th customer is waffling a bit on the sale. You would be crazy not to come WAY off that price to make the sale. Giving it to him for HALF off means you might lose money on the widget but get a million bucks! Then that guy pulls out a checkbook and says he doesn't want financing...

 

Lol

 

There are definitely incentives to the dealers to finance purchases, especially the higher $$ inventory. I always take the discount for financing, pay 80-90% down payment and pay off the first month. I do not believe there is any early payoff penalty in Texas, or if there is, I have never paid one. I was never hit with any financing charges either.

 

They said I had to make 6 payments before I could pay it off or refi (although I have not seen that in writing). They will also only accept 10% down, said SETF had to finance 90% in order to get the "deep Discounts". All this with 825 credit score!! I just dont get it!
Kevin.

 

I call shenanigans!

 

Just for fun, you might contact your state consumer credit office to verify that this practice is legal. Never heard of it before, but stranger things happen.

 

Just make a 37,000 down payment and finance the rest

 

They said SETF has to finance 90%........

 

B 'stards

 

Dealers get a fee for each person they get financed. Cash is not an incentive to them. Maybe cash still is to a buy here pay here car lot.

 

The Dealer does get a rebate from the finance company, which is driven by the interest rate and loan term. The finance company will have some requirements or estimated (on experience) on time to payoff to, at a minimum, get their rebate covered. The rebate is part of the dealer profit on the transaction. If they do not get it from the finance company, they are going to look to get it from the sales price. Using the numbers you mention, you are looking at approximately $1,300 in interest over the 6 months. You could offer to split the difference with the dealer and pay cash or shop elsewhere.

There can always be a better deal out there, just do you have the time and patience to find it.

 

Finance it, pay a couple months so your credit takes a hike, then pay it out. Wham bam, you have your truck, and good credit.

 

People don't get that much off of Pro's though.

 

Tried finding one that's a year old? I found one and got them to 30,100 + taxes

 

We're talking about a off road with tech pack.

Buy new. 31k when u get a new one for $32900.

 

not like he was wanting (trdor 4x4 w/ premium & tech)

 

Right, I am aware of that.

 

Around her you can, it's been done. My neighbor did it. I bought two trd4x4 sports and paid @ 35k with ttt. Yea it can be done.

 

Ok then give them 10% then pay off the rest on the first month. It’s simple.........