Overland at Ridiculous Discount!?!?

[Ole Cowboy]

Today should be the tell-tale day. I didn't let them pull credit yet, I know my score and I am tier 1. But I should get my OTD number before lunch today. Once I get the worksheet, I will post if it's indeed true that I am getting the numbers they said I was.

Its not the spec I want, but its got the options I want, and at nearly 8k below (supposedly) anything I'm getting in North Florida... I have to take it and use the savings to mod it up!!

Wishing on you the luck of the draw on this deck.

I got nearly 25% off MSRP once, but signed up for a max % rate of 28% for the rest of my life or something like that...I had shown up to do a full cash sale, I had the money but the finance guy talked me into the deal...

Paperwork and payment book showed up in the mail and I sent a check for the full amount..ROFLMAO>

Got a call from Sales guy, Fin Mgr, Sales Mgr, Gen Mgr all asking then SCREAMING at me for screwing them over, I did not screw them over, told them upfront all-cash deal ( was buying it for my company). Still laughing about that one!

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[Raven]

I had a dealer with a “too good to be true” deal and it was. What wasn’t reflected in the sales price was destination, wheel locks, tint, paint protection film, window etching and a whole bunch of other crap to pad the profit they weren’t making on the vehicle itself.

 

[JeepNut80]

Wishing on you the luck of the draw on this deck.

I got nearly 25% off MSRP once, but signed up for a max % rate of 28% for the rest of my life or something like that...I had shown up to do a full cash sale, I had the money but the finance guy talked me into the deal...

Paperwork and payment book showed up in the mail and I sent a check for the full amount..ROFLMAO>

Got a call from Sales guy, Fin Mgr, Sales Mgr, Gen Mgr all asking then SCREAMING at me for screwing them over, I did not screw them over, told them upfront all-cash deal ( was buying it for my company). Still laughing about that one!

That's amazing!

 

[TheSolarWizard]

If you’re tier 1 credit, tell them you’ll take 20% apr financing if they can get another $1500 off plus sip out all document fees and then call a credit union on the way out of the dealership

 

[smlobx]

There’s no reason to be deceitful. Just be honest and hope they are as well. If not just walk.

As to the line “just make the first three months on our loan and then you can pay it off or refinance” is crazy..

In most loans, no matter what you’re buying, you are paying mostly interest for the first several months. Just go online and google an amortization schedule for your particular terms and you’ll quickly see that the first three months of payments are 99% interest, or profit for the financier/dealer.

 

[kayakmike]

There’s no reason to be deceitful. Just be honest and hope they are as well. If not just walk.

As to the line “just make the first three months on our loan and then you can pay it off or refinance” is crazy..

In most loans, no matter what you’re buying, you are paying mostly interest for the first several months. Just go online and google an amortization schedule for your particular terms and you’ll quickly see that the first three months of payments are 99% interest, or profit for the financier/dealer.

You've got to run the numbers to see what works for you. I did for someone on a different thread (https://www.jeepgladiatorforum.com/...rently-the-best-deal.19975/page-5#post-309749), and the difference in interest over 3 months was ~$170, vs. $2k discount the dealer was offering for their in-house financing at a higher rate. For this case, using dealer financing and refi in 90 days saves you ~$1800.

 

[Sladecm]

Today should be the tell-tale day. I didn't let them pull credit yet, I know my score and I am tier 1. But I should get my OTD number before lunch today. Once I get the worksheet, I will post if it's indeed true that I am getting the numbers they said I was.

Its not the spec I want, but its got the options I want, and at nearly 8k below (supposedly) anything I'm getting in North Florida... I have to take it and use the savings to mod it up!!

What’s tier 1?

 

[smlobx]

You've got to run the numbers to see what works for you. I did for someone on a different thread (https://www.jeepgladiatorforum.com/...rently-the-best-deal.19975/page-5#post-309749), and the difference in interest over 3 months was ~$170, vs. $2k discount the dealer was offering for their in-house financing at a higher rate. For this case, using dealer financing and refi in 90 days saves you ~$1800.

I’m trying to follow your logic but am having a hard time...
Where are you seeing a $2K discount for in-house financing? Most of the time it’s a 1% discount.

 

[kayakmike]

I’m trying to follow your logic but am having a hard time...
Where are you seeing a $2K discount for in-house financing? Most of the time it’s a 1% discount.

That thread I linked to was analyzing Kent's pricing structure for a particular purchase. A few people have said Peterson increases their sales price $2k if you bring your own financing.

If a dealer is giving a 1% break for in house financing, on a $50k JT that's $500. Still cheaper to pay $170 extra interest over 90 days than an extra 1% to bring your own financing (i.e. $500).

Like I said, you need to run the numbers for your situation. Too many variables to see what works best for each person (minimum dealer loan term, interest rates, purchase price, cost of bringing your own financing, etc). However just looking at these 2 cases it completely reasonable and makes financial sense to purchase with dealer financing and refinance after 90 days. I think your blanket statement that "As to the line “just make the first three months on our loan and then you can pay it off or refinance” is crazy.." is incorrect.

 

[Trauma PA]

Today should be the tell-tale day. I didn't let them pull credit yet, I know my score and I am tier 1. But I should get my OTD number before lunch today. Once I get the worksheet, I will post if it's indeed true that I am getting the numbers they said I was.

Its not the spec I want, but its got the options I want, and at nearly 8k below (supposedly) anything I'm getting in North Florida... I have to take it and use the savings to mod it up!!

How'd that deal go?

 

[lrtexasman]

Guessing it didn't.

 

[JeepNut80]

Always take the cash discount over the financing. you can always shop for financing elsewhere (credit unions and local banks always have great terms).

 

[AncientCityGladiator]

UPDATE

So, there has been a bit of a hurricane coming towards us Floridians. Sorry for not updating sooner. Had to prep and plan, and that took a bit of attention.

Now, as for the discount...

So Tuesday when I posted this, I got all the way to the point of asking for the numbers on paper so I could sign and take to my bank.

Crickets. Everyday. Since.

I have left messages. I have left emails. I have left texts.

The entire dealership, management included, has ignored me.

So yeah, it was too good to be true.

Back to the drawing board

 

[spazzyfry123]

UPDATE

So, there has been a bit of a hurricane coming towards us Floridians. Sorry for not updating sooner. Had to prep and plan, and that took a bit of attention.

Now, as for the discount...

So Tuesday when I posted this, I got all the way to the point of asking for the numbers on paper so I could sign and take to my bank.

Crickets. Everyday. Since.

I have left messages. I have left emails. I have left texts.

The entire dealership, management included, has ignored me.

So yeah, it was too good to be true.

Back to the drawing board

Stay safe! I'm a couple hours west of you anxiously watching the models to see what happens for us on the Gulf side.

 

[JT614]

UPDATE

So, there has been a bit of a hurricane coming towards us Floridians. Sorry for not updating sooner. Had to prep and plan, and that took a bit of attention.

Now, as for the discount...

So Tuesday when I posted this, I got all the way to the point of asking for the numbers on paper so I could sign and take to my bank.

Crickets. Everyday. Since.

I have left messages. I have left emails. I have left texts.

The entire dealership, management included, has ignored me.

So yeah, it was too good to be true.

Back to the drawing board

Maybe they are planning for the hurricane too. I'd hold tight. Best of luck through the storm!

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