Question for new car sales guy's.

[LoveMeSomeSRT8]

I'm trying to buy a 2006 Chrysler and need a question answered about their 0% financing.

They have factory to dealer incentives on this car and they say that if they use them in the negotiation that I lose the 0% financing options because they can not combined the two in a deal. I know this to be true when consumer rebates are in play but dealer support money?? Somebody let me know please,

Randall

[Big Boy]

I had a similar situation a year ago, when I bought my Magnum. It's one of those you can't have your cake and eat it too, situations. Just take whatever the highest savings is.

[HilltopMichael]

FWIW, I'm being told the same thing by a number of dealers. Either take $3-$4K off the price of the car or get Chrysler 0% financing. Can't have both. While 0% financing would be nice, I'm figuring that you're really just pre-paying $3-$4K interest. And because the cost of the vehicle is higher, your DMV fees will probably be higher as well. The numbers might still work if you plan on making payments for the full term, but do figure the financing costs if you purchase the car for less, especially if you can pay it off in a shorter time frame.

[LoveMeSomeSRT8]

I find it hard to believe that a dealer rebate could affect my use of the 0% financing like that. Why make it a dealer rebate in the first place. Just call it a buyer rebate and then the gray area of the matter would be cut and dry. This car is a Chrysler over stock car. They had a fire sale to the dealers and the dealers have huge incentives to sell these cars. Anyone with sales chime in.

Randall

[Charge-it!]

I find it hard to believe that a dealer rebate could affect my use of the 0% financing like that. Why make it a dealer rebate in the first place. Just call it a buyer rebate and then the gray area of the matter would be cut and dry. This car is a Chrysler over stock car. They had a fire sale to the dealers and the dealers have huge incentives to sell these cars. Anyone with sales chime in.

Randall

I was in for service the other day and they told me 0% for 72 months... AND incentives of almost 5k on 06's....

[HectorRandallNoe]

As a salesman, I can provide some info.

Let's keep it simple, you can buy the car as low as Invoice AND take the 0%, you CANNOT go below invoice with the rebates and still get 0%.

Is that helpful? lol

[Super T]

I find it hard to believe that a dealer rebate could affect my use of the 0% financing like that. Why make it a dealer rebate in the first place. Just call it a buyer rebate and then the gray area of the matter would be cut and dry. This car is a Chrysler over stock car. They had a fire sale to the dealers and the dealers have huge incentives to sell these cars. Anyone with sales chime in.

Randall

Dealer rebate = buyer rebate if you think about it. Just a middle man involved, that's all.

[wadertmag]

Most people's credit, if it is good enough for 0% will get great credit rate anyways. Most everyone will benefit from the cash back. You have to 720 plus credit I believe to get 0%.

Wade

[FOHN_JARGO]

So what about 1% over invoice with 0% interest? Is that possible? People who are members of Sam's Club can get cars, boats, RV's and such at 1% over invoice at participating dealers.

[LoveMeSomeSRT8]

With this car being a 06 you would think they would be balls out trying to get someone to buy it. I know sales people want to keep the car dealer secrets, just that secret but we need to find the real answer.

I was told by two different dealers two different things. One said they could not finance more than MSRP on the 0% deal and the other said they could go more depending on your credit. Right there it tells more one dealer is more willing to earn my business than the other.

I'm upside down on my trade as you might imagine.

Randall

As a salesman, I can provide some info.

Let's keep it simple, you can buy the car as low as Invoice AND take the 0%, you CANNOT go below invoice with the rebates and still get 0%.

Is that helpful? lol

[HectorRandallNoe]

With this car being a 06 you would think they would be balls out trying to get someone to buy it. I know sales people want to keep the car dealer secrets, just that secret but we need to find the real answer.

I was told by two different dealers two different things. One said they could not finance more than MSRP on the 0% deal and the other said they could go more depending on your credit. Right there it tells more one dealer is more willing to earn my business than the other.

I'm upside down on my trade as you might imagine.

Randall

It depends on the vehicle, LX's don't have lot's of rebates, trucks do, that helps covering negative equity on your trade, I think the max you can go over MSRP is 130% with ABSOLUTELY pefect credit, if your upside down more than that, it has to come out of your pocket, Banks won't take the risk on going over than that.

Try to ask more for your trade if possible, don't expect NADA or KBB values, they will never work on any dealer, if they say they do, they are over allowing, meaning that the new car can go much lower.

In a short answer, YES they can go over MSRP.

[HectorRandallNoe]

Oh and don't worry, on a recent study they found that more than 90% of people who are still paying for a car that's not more than 3 yrs old are upside down.

I was upside down myself, lol

[wadertmag]

The amount over MSRP is all relative to your credit score. The lower the score the higher risk u are, and that means less over MSRP the banks will go. Negotiate your price first and then worry about this stuff. You have o remember that true dealer cost is different from invoice. There is cost in getting the vehicle presentable and on the lot. If the car has been there a while the hold back is gone as it has went to finance charges on the car. Banks own most cars on dealer's lots and after 90 days there are intrest charges on unsold vehicles. Negotiate the selling price first and work on the financing second. Take all of the rebates and incentives and then shop your intrest rate around to credit unions and other banks. If you know your out the door price you will be able to compare loans.

Wade

[HectorRandallNoe]

The amount over MSRP is all relative to your credit score. The lower the score the higher risk u are, and that means less over MSRP the banks will go. Negotiate your price first and then worry about this stuff. You have o remember that true dealer cost is different from invoice. There is cost in getting the vehicle presentable and on the lot. If the car has been there a while the hold back is gone as it has went to finance charges on the car. Banks own most cars on dealer's lots and after 90 days there are intrest charges on unsold vehicles. Negotiate the selling price first and work on the financing second. Take all of the rebates and incentives and then shop your intrest rate around to credit unions and other banks. If you know your out the door price you will be able to compare loans.

Wade

Word!