Good deal reached on 22 however..

[Bobglad22]

So, $11 off MSRP seems like a screaming deal but in order to get there I had to sell my soul to Chrysler Financial it seems. For someone with mid 800 credit you would think CF could do better than 8.3% on a 72 month term. The salesman says what all salesman say. .You can just refinance it in a few months.. Question is can I negotiate the rate given? How can I be sure that is the rate CF provided and not a padded rate the dealer is giving me to make back some of the loss on the vehicle.

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[toddarama]

So, $11 off MSRP seems like a screaming deal but in order to get there I had to sell my soul to Chrysler Financial it seems. For someone with mid 800 credit you would think CF could do better than 8.3% on a 72 month term. The salesman says what all salesman say. .You can just refinance it in a few months.. Question is can I negotiate the rate given? How can I be sure that is the rate CF provided and not a padded rate the dealer is giving me to make back some of the loss on the vehicle.

you can never be sure ... I would bet the dealer is making some back, but a month or two at that rate while you refinance a better deal shouldn't be too big of a hit, right?

 

[Minty JL]

When I bought mine in Oct, the were only offering 7.2% - same mid 800 beacon.

I went through NavyFed and got 4.9%

 

[saintpauljeff]

you can never be sure ... I would bet the dealer is making some back, but a month or two at that rate while you refinance a better deal shouldn't be too big of a hit, right?

that's the way I'd look at it, the extra interest paid over the course of a couple months is the cost to get the $11k off MSRP

in my case the dealer asked me to wait 5 months; I refi'd with a credit union couple days after that fifth payment

 

[sharpsicle]

1. You'll never see under-the-hood of the dealer's financial system.
2. Anything is negotiable.
3. You can always refinance with your own bank/CU. Take advantage of the savings and then dump the loan for a better rate, win/win.

Fairly standard stuff when financing.

 

[ATL_Rubi]

Lower 8s here, got mine through Northwest Fed at 5.13%. Being my first new car purchase on my own, and only being 29, I figured that was a steal. I'd look to an outside bank, the salesman has shown he can drop 11 off of the price, outside financing shouldn't change that but it likely will.

Edit to add: Financing was done in late November.

 

[staying_tuned]

$11k off MSRP isn't screaming unless you have no time to wait for an ordered truck (13% off MSRP w/ no finance requirements. On a well optioned rubi or mojave you'd be saving around that anyhow) or that truck happens to be the exact configuration you'd like.

That rate is pretty shocking. Even if you can refi in two months, you haven't touched principle and basically tossed those first interest laden payments down the drain plus picked up another $800+ in re-fi charges.

 

[Minty JL]

Dealer make their real money in that finance office, YES, they get kick backs for everything you agree to and buy.

 

[Minty JL]

$11k off MSRP isn't screaming unless you have no time to wait for an ordered truck (13% off MSRP w/ no finance requirements. On a well optioned rubi or mojave you'd be saving around that anyhow) or that truck happens to be the exact configuration you'd like.

That rate is pretty shocking. Even if you can refi in two months, you haven't touched principle and basically tossed those first interest laden payments down the drain plus picked up another $800+ in re-fi charges.

MSRP was $59920 I ordered for 6% under invoice and came out to 51,220. I made a small down payment, paid tax/title tag in cash. I financed $45k for 36months

 

[ecidiego]

$11k off MSRP isn't screaming unless you have no time to wait for an ordered truck (13% off MSRP w/

11k off MSRP is a hell of a lot more than 13% off MSRP.

 

[kb5zcr]

Is there any rule/penalty keeping you from refinancing the first month? If so, you could do that. I would feel zero loyalty to keeping the loan any minimum amount of time to help their commission. Read the fine print on the loan paperwork.
If you look at an amortization table online and you will see that $300 of every payment the first few months goes to interest.

 

[staying_tuned]

11k off MSRP is a hell of a lot more than 13% off MSRP.

The gap is wide on something like my Willys and I'm unsure which model OP is looking at but we do know its a 22. A mildly optioned 23 Rubi is north of 65k. At 65k they'd be at 16% but then turn around and toss out a few k on interest for the initial loan then re-fi charges on the second.

 

[MKAYMEOW]

That is a crazy deal, just take it and refinance for sure! That is if they are making you do the financing through them, there is no penalty to refinance. Rates are high right now, but with your score I think you can get a better rate. Wait to get your account number so the other bank can help you through the process.

 

[cgm]

did you call a credt union? I have done that in the past when the dealer was inflexible buying my wife's honda pilot. This was a few years ago, but they said their rate of 6.5%was the best we could do. I told them that i was on the phone with DCU and their rate was in the 3s. All of a sudden, they could give us a 3.1% and expected me to be really happy that he was helping us out. I was kind-of a dick when I just looked at him and asked why I should be happy, they were trying to stick us with a bad rate until I offered to take my buisiness elsewhere. the car buying experience stinks!

Is inventory still low? When I brought my gladiator for waranty paint work monday morning, they had plenty of jts and jls on the lot. They had a bunch of rubis, mojaves, hemis and electric jeeps.

 

[Kapoosh1]

$11k off MSRP isn't screaming unless you have no time to wait for an ordered truck (13% off MSRP w/ no finance requirements. On a well optioned rubi or mojave you'd be saving around that anyhow) or that truck happens to be the exact configuration you'd like.

That rate is pretty shocking. Even if you can refi in two months, you haven't touched principle and basically tossed those first interest laden payments down the drain plus picked up another $800+ in re-fi charges.

There's definitely some value in having it now vs waiting 3-6 months. In my case, my Rubicon's MSRP was $58K and I paid $48K, that's 17% off MSRP and I didn't have to wait. Plus I got Gobi, which I don't think is even available for 23. And not to mention the price increases that have taken place between 2022 and 2023 models.

I'm almost certain you can refinance right away but I just purchased a 22 for roughly the same deal and they offered another $1K discount if I financed through Chrylser Financial, which I declined as I didn't want to bother with refinancing.

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