Paint "Late-availability" definition & 3.0L ecoDiesel

[lrtexasman]

Can you elaborate? Like, give an example if this is a $50,000 loan at 3% for 72 months? Do you mean pay $47,000 the first month, and then the interest is only on $3,000 for the next 2-5 months?

I majored in Finance and economics and Im not sure what you mean.

No there are no points to buy on an auto loan. Most loans do not have an early payoff penalty but ask the finance guy, as I plan to do when ordering and taking their loan. Some manufactures require you to keep their loan (GM) for 90 days to keep the rebate if offered, there is no rebate on this deal, so I imagine you could refince as soon as you get the payoff. GM currently has a $3500 rebate on Silverados, which requires you to take their loan, typically between 7 and 8% for those with good credit. Keep it for 90 days, the rebate credits, and then you can payoff and refinance with credit union. Most credit unions finance one year old cars with the same rate as a new vehicle.

See example below:
If purchasing a JT from one of the Idaho dealers for $36,500, which in this example is $3,500 less than your local dealer who will sell to you for 40k, you would be financing $36,500 @ 7%, which amortized on a 60 month loan is a $722.74 payment with $630 interest after 90 days and gives you a payoff of $34,962 after 90 days. Paying $3,500 more and financing 40k @ 3% on a 60 month loan is a $718.75 payment with $295 in interest after 90 days and gives you a payoff of $38,139. So by saving $3,500 up front and financing @ 7% for 60 months and then refinancing at 3% after 90 days you would save $3,177. Your savings go up if you refinance after 30 days.

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[jeepinmike]

I don't even see the diesel making it to production really. Diesel to me is dying. Electric-hybrid is the future and Jeep has made a commitment to deliver in 2020 a Wrangler with the ability. The diesel in this tows less too. Don't see the point really. Doesn't save you a ton.

 

[5JeepsAz]

No there are no points to buy on an auto loan. Most loans do not have an early payoff penalty but ask the finance guy, as I plan to do when ordering and taking their loan. Some manufactures require you to keep their loan (GM) for 90 days to keep the rebate if offered, there is no rebate on this deal, so I imagine you could refince as soon as you get the payoff. GM currently has a $3500 rebate on Silverados, which requires you to take their loan, typically between 7 and 8% for those with good credit. Keep it for 90 days, the rebate credits, and then you can payoff and refinance with credit union. Most credit unions finance one year old cars with the same rate as a new vehicle.

See example below:
If purchasing a JT from one of the Idaho dealers for $36,500, which in this example is $3,500 less than your local dealer who will sell to you for 40k, you would be financing $36,500 @ 7%, which amortized on a 60 month loan is a $722.74 payment with $630 interest after 90 days and gives you a payoff of $34,962 after 90 days. Paying $3,500 more and financing 40k @ 3% on a 60 month loan is a $718.75 payment with $295 in interest after 90 days and gives you a payoff of $38,139. So by saving $3,500 up front and financing @ 7% for 60 months and then refinancing at 3% after 90 days you would save $3,177. Your savings go up if you refinance after 30 days.

Look at the big brain on Texas!! Appreciate the info. Thank you!

 

[steffen707]

No there are no points to buy on an auto loan. Most loans do not have an early payoff penalty but ask the finance guy, as I plan to do when ordering and taking their loan. Some manufactures require you to keep their loan (GM) for 90 days to keep the rebate if offered, there is no rebate on this deal, so I imagine you could refince as soon as you get the payoff. GM currently has a $3500 rebate on Silverados, which requires you to take their loan, typically between 7 and 8% for those with good credit. Keep it for 90 days, the rebate credits, and then you can payoff and refinance with credit union. Most credit unions finance one year old cars with the same rate as a new vehicle.

See example below:
If purchasing a JT from one of the Idaho dealers for $36,500, which in this example is $3,500 less than your local dealer who will sell to you for 40k, you would be financing $36,500 @ 7%, which amortized on a 60 month loan is a $722.74 payment with $630 interest after 90 days and gives you a payoff of $34,962 after 90 days. Paying $3,500 more and financing 40k @ 3% on a 60 month loan is a $718.75 payment with $295 in interest after 90 days and gives you a payoff of $38,139. So by saving $3,500 up front and financing @ 7% for 60 months and then refinancing at 3% after 90 days you would save $3,177. Your savings go up if you refinance after 30 days.

But weren't people saying you only have to keep a portion of the loan for 90 days? Like, get the loan for $36,500, then 10 days later pay $34,000 down on the loan, and pay the rest off 80 days later?

 

[kayakmike]

But weren't people saying you only have to keep a portion of the loan for 90 days? Like, get the loan for $36,500, then 10 days later pay $34,000 down on the loan, and pay the rest off 80 days later?

If you look at the Wrangler forum, that's exactly what some people have done. The loan may have to stay open for 90-180 days, but it doesn't have to carry the full balance for the entire time. If you have cash on hand, then pay off most of the loan month 1. Obviously if you need to finance it anyway, then you aren't going to be able to pay it down month 1. Regardless, as soon as you can close the dealer's financing loan, just refi with your CU or bank at a lower interest rate. Like lrtexasman said, most banks will allow you to refi within the first year as if it's a new purchase (my CU will).

Of course, it will depend on what the terms are for the loan when you apply for it, so it could change from what the JL buyers were seeing on their recent loans...

 

[steffen707]

If you look at the Wrangler forum, that's exactly what some people have done. The loan may have to stay open for 90-180 days, but it doesn't have to carry the full balance for the entire time. If you have cash on hand, then pay off most of the loan month 1. Obviously if you need to finance it anyway, then you aren't going to be able to pay it down month 1. Regardless, as soon as you can close the dealer's financing loan, just refi with your CU or bank at a lower interest rate. Like lrtexasman said, most banks will allow you to refi within the first year as if it's a new purchase (my CU will).

Of course, it will depend on what the terms are for the loan when you apply for it, so it could change from what the JL buyers were seeing on their recent loans...

Thank you! Yeah i'll have to of course wait and see what all the terms are, but my plan would be to set up local financing with my CU to pay off 95% of the loan 1 month later, then after the required time, i would pay the rest off with cash.

Nice!

 

[kayakmike]

Thank you! Yeah i'll have to of course wait and see what all the terms are, but my plan would be to set up local financing with my CU to pay off 95% of the loan 1 month later, then after the required time, i would pay the rest off with cash.

Nice!

Depends on your CU, but most won't allow two loans on the same vehicle (its a car, not a house ). As long as the original dealer loan is open, I doubt a CU will allow a 2nd loan against the vehicle. If you require financing, you may need to deal with the full dealer financing for 3-6 mo, then refi with your CU (where they will pay the unpaid balance to the dealer lender).

If you would normally be paying cash, then you could drop most of the cash right after getting the dealer financing, with only a small balance until the term is up.

 

[steffen707]

Depends on your CU, but most won't allow two loans on the same vehicle (its a car, not a house ). As long as the original dealer loan is open, I doubt a CU will allow a 2nd loan against the vehicle. If you require financing, you may need to deal with the full dealer financing for 3-6 mo, then refi with your CU (where they will pay the unpaid balance to the dealer lender).

If you would normally be paying cash, then you could drop most of the cash right after getting the dealer financing, with only a small balance until the term is up.

Lol, didn't even think about the two loans one car issue.

okay so I get financing, max out my heloc of about $50,000 pay down silly loan then refi the whole thing with the CU in 90 days......

Now I should just calculate the extra interest expense over 90 days because I'm curious what all this fiddling around is saving me.

 

[steffen707]

Something like $861 in interest in 3 months on a 50k loan @7% and 60 months.. So if that was a 4% loan, 3 months would be about $369 in interest.

Yeah the fiddling around is totally worth it. Best fiddling I've ever done to save a buck probably.

 

[Rcgunter]

Are there any dates for the diesel release. I just purchased a JL Rubicon with a 2.0 and would like a Gladiator with the diesel? Thank you for any information.

 

[Ichthus]

Are there any dates for the diesel release. I just purchased a JL Rubicon with a 2.0 and would like a Gladiator with the diesel? Thank you for any information.

No specific dates for anything right now...just general “ordering opens in April and deliveries in June” so far...which is already a delay from February and then March ordering.

I’m pretty desperate for a Gobi...but I can’t wait to order. As the specifics for ordering dates are so non-specific, my dealer is expecting me to order whatever is available on day 1, then make a decision on whether or not I actually take that Jeep when it arrives, based on wat we hear about colors and diesel options by June. The benefit is that I’d get a chance to really look the thing over and drive it a bit, even if I just tell the dealer to find another buyer.

 

[kayakmike]

No specific dates for anything right now...just general “ordering opens in April and deliveries in June” so far...which is already a delay from February and then March ordering.

I’m pretty desperate for a Gobi...but I can’t wait to order. As the specifics for ordering dates are so non-specific, my dealer is expecting me to order whatever is available on day 1, then make a decision on whether or not I actually take that Jeep when it arrives, based on wat we hear about colors and diesel options by June. The benefit is that I’d get a chance to really look the thing over and drive it a bit, even if I just tell the dealer to find another buyer.

I'm also in the Gobi camp, so won't be the first to get a Gladiator. Here's my latest estimates, and your mileage may vary.

From the JL forums, it looks like when the JL was rolled out, the "late" colors lagged about 3 months. One person said JLs hit dealer lots Jan/Feb 2018, and late colors hit lots May-July (4-5 months lag). Someone else in NC said the StingGray order bank opened 2/28/18, he ordered on 2/29, and delivered to dealer 4/30, which looked like about 2 months behind the first color custom orders. Sorry, made a hand written notes when scanning that forum, so don't have links to reference those original posts...

So, assuming the same timing for JT:

Custom orders for initial colors: Latest estimate April 2019 (https://www.jeepgladiatorforum.com/forum/threads/gladiator-order-bank-opens-april.14361/)
Late color order bank opens: June 2019 (same 2 month lag as JL release)
Delivery of late color custom orders: starting August 2019 (2 months after order, similar to StingGray order above)
Late color appearing on dealer lots (non custom orders): Sept-Oct 2019

Since diesel isn't even in the configurator right now, it will likely be even later. Like I mentioned earlier, with my diesel Grand Cherokee, those showed up on dealer lots in Dec 2013 when they rolled out the new 2014 model year (about 6 months behind the gas version). With the FCA diesel emissions settlement, that may affect the rollout date on the JTs.

 

[lrtexasman]

Depends on your CU, but most won't allow two loans on the same vehicle (its a car, not a house ). As long as the original dealer loan is open, I doubt a CU will allow a 2nd loan against the vehicle. If you require financing, you may need to deal with the full dealer financing for 3-6 mo, then refi with your CU (where they will pay the unpaid balance to the dealer lender).

If you would normally be paying cash, then you could drop most of the cash right after getting the dealer financing, with only a small balance until the term is up.

CU will pay the original note off and become new lienholder. Vehicle will will be retitled to CU as lienholder and you as owner. No problem to do, takes less than 2 hours if you have a current payoff letter from original lienholder.

 

[kayakmike]

Thank you! Yeah i'll have to of course wait and see what all the terms are, but my plan would be to set up local financing with my CU to pay off 95% of the loan 1 month later, then after the required time, i would pay the rest off with cash.

Nice!

CU will pay the original note off and become new lienholder. Vehicle will will be retitled to CU as lienholder and you as owner. No problem to do, takes less than 2 hours if you have a current payoff letter from original lienholder.

If you look at the original comment this quote was in response to, he wanted to finance 100% with dealer (to get the discount), then get CU financing for ~95% to pay down the dealer financing (but not close dealer financing, which must be open for the 3-6 months required). That would require both dealer and CU financing simultaneously to hold lien to the vehicle for 3-6 months, which probably won't fly.

Completely agree if you are completely paying off the original financing.

 

[chrcal14]

I'm also in the Gobi camp, so won't be the first to get a Gladiator. Here's my latest estimates, and your mileage may vary.

From the JL forums, it looks like when the JL was rolled out, the "late" colors lagged about 3 months. One person said JLs hit dealer lots Jan/Feb 2018, and late colors hit lots May-July (4-5 months lag). Someone else in NC said the StingGray order bank opened 2/28/18, he ordered on 2/29, and delivered to dealer 4/30, which looked like about 2 months behind the first color custom orders. Sorry, made a hand written notes when scanning that forum, so don't have links to reference those original posts...

So, assuming the same timing for JT:

Custom orders for initial colors: Latest estimate April 2019 (https://www.jeepgladiatorforum.com/forum/threads/gladiator-order-bank-opens-april.14361/)
Late color order bank opens: June 2019 (same 2 month lag as JL release)
Delivery of late color custom orders: starting August 2019 (2 months after order, similar to StingGray order above)
Late color appearing on dealer lots (non custom orders): Sept-Oct 2019

Since diesel isn't even in the configurator right now, it will likely be even later. Like I mentioned earlier, with my diesel Grand Cherokee, those showed up on dealer lots in Dec 2013 when they rolled out the new 2014 model year (about 6 months behind the gas version). With the FCA diesel emissions settlement, that may affect the rollout date on the JTs.

This sounds about right, if Jeep is running the JL playbook, which they probably are.

Need to see a Gator to decide to wait or order Black from the get-go.

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