etl330

Yeah I got a deal like that too....and then I got into the finance room where they made it all back and then some.....hopefully that's not your experience. I walked out, but I was coaxed back. Never ever should've went back. In fact I should've run when they wouldn't put my deposit on Amex. Oh well...next jeep will come from Bryan

drtyrat30

How did they get you? Higher interest rates or? I am mostly a cash buyer might finance part of the jeep with my credit union.

bryanwithawhy

That's what I told him to be careful of. The rules with banks are usually:

60 months : Allowed to make 2.5% reserve over the buy rate
72 months : 2%
Usually they give you up to $4000 of warranty financed. The warranty has heavy profit in it but that's just the nature of the beast, you won't really get one under the $1800-2000 area unless it's a really junk warranty. A 7y/100mi should really be 2$000-2400 but lifetime will run you usually $3800, but cost is like $2200 already so they gotta make something.

I only sell Chrysler factory warranties at my store but some of these aftermarket warranty companies aren't as awful as others. I wouldn't get anything other than Chrysler unless you have a really great mechanic then Zurich will be ok.

drtyrat30

60 months : Allowed to make 2.5% reserve over the buy rate
72: 2%

Not sure I follow what that means. If I have my credit union or bank do the loan for me and I just take the factory 36mth warranty. Wouldn't I be in control of my financing?

etl330

I don't want to speak for him but I think he means the dealership is allowed to add 2.5 or 2% respectively on top of the interest rate they actually approve your loan at. They then get that extra percentage kicked back to them from the lender. If they're going to let you finance through your own bank then that's awesome, but I suspect once you tell them you have your loan arranged already their tune is going to change on the price of the vehicle. As far as how I got screwed yeah it was basically the interest rate. They claimed since it was my first car purchase I had 'no credit' even though I was putting down 30% and had a great credit score. When I went back through the paper work they also included gap insurance which I made very clear to them I didn't want. Why would I need gap insurance on a vehicle with residual values as high as the wrangler when I'm putting a decent amount down? I knew something was up when they located a vehicle with $3k more of options than the vehicle we negotiated on and the 'price' didn't change.

drtyrat30

I wasn't able to meet him today, had some family stuff to take care of. But I did talk to him, he's the Internet sale manager. He told me that it's a straight simple deal. Just come in, build the jeep that I want to order and leave a $500 deposit. The manufacturer and dealer rebate of $4,500 off MSRP will be applied with no special qualifying ie: college grad or military. Then he told me I can finance the jeep with whoever I choose. So I guess I will find out if it's a legitimate deal tomorrow when I go to the dealership.

bryanwithawhy

Sorry it took me so long to get back here. Yes that is exactly correct.
And in their defense some lenders do require gap insurance for certain deals but it was probably just them charging you extra money.

drtyrat30

Well I just got back from the dealership and placed my order for my new Jeep. Everything went smoothly, ordered all the options I wanted and got it in writing that I'm getting $4,500 off MSRP and I can pay all in cash or finance with whomever I choose. They told me it could take up to 4-6 weeks. Now the waiting process. Thanks for all the info...

etl330

Wow sweet deal. Glad we were wrong...where'd you order is again?

DunnyBunny

What options did you get and what would the price be before tax title license? I'm very interested in doing same thing.