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Real world monthly payments

Yellow1098

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Niceeee ride.....not a bad plan.....I think i might have to go the same route.....the add on price sare killing it for everyone........just add what you want later
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Rex3rd

Rex3rd

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$38,800 (+6% sales tax) 10% down, $600 mo. Max Tow, Aux switches & slush mats, thats it. Nothing else financed. Probably one of the cheapest JT's around, but I still dig it.

IMG_2504.JPG
How many months did you finance? Awesome ride and close to what I want to build
 
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Rex3rd

Rex3rd

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For everyone getting those awesome deals I have a quick question. I test drove a manual bare bones sport s yesterday and afterwards they wanted to run some numbers to see where I would be if I eventually wanted to buy one. I asked if this just "running numbers " would need my social security number and salesmen says yes but it won't effect your credit at all... So I said ehh sure I'll give it to you if I can have it in writing from your sale manager that it won't go agenst my credit. He says sure comes back with nothing in writing so I don't give them my number but ten minutes later comes back with this sheet ( guess he was lieing about the won't hit your credit) anyways they have this worked out basically where if you finance through these two companies you get a discount but the kicker is max 10% down. He says they give them the discount but they graciously pass it on to us lol...I wanted to put down 5k whenever I get mine and pointed that out to him. I know with some of the deals it's 5% off or 4 if you finance somewhere else but is everyone still being allowed to put down whatever dollar amount you want? I want to put down more and still have the 4 to 5 discount because there's no way I'm paying this much a month on a bare bones sport s. I could be paying that much for a Rubi that's understandable even with 5k down. Am I out of my league here or is this just an outrageous payment? Haven't haggled with them yet because I won't be able to order till next year but if this is the best they got I'll look elsewhere or is this going to truly be the payments I'm going to be looking at? Any feedback would be great

Jeep Gladiator Real world monthly payments IMG_20190815_184100579
 

Ole Cowboy

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For everyone getting those awesome deals I have a quick question. I test drove a manual bare bones sport s yesterday and afterwards they wanted to run some numbers to see where I would be if I eventually wanted to buy one. I asked if this just "running numbers " would need my social security number and salesmen says yes but it won't effect your credit at all... So I said ehh sure I'll give it to you if I can have it in writing from your sale manager that it won't go agenst my credit. He says sure comes back with nothing in writing so I don't give them my number but ten minutes later comes back with this sheet ( guess he was lieing about the won't hit your credit) anyways they have this worked out basically where if you finance through these two companies you get a discount but the kicker is max 10% down. He says they give them the discount but they graciously pass it on to us lol...I wanted to put down 5k whenever I get mine and pointed that out to him. I know with some of the deals it's 5% off or 4 if you finance somewhere else but is everyone still being allowed to put down whatever dollar amount you want? I want to put down more and still have the 4 to 5 discount because there's no way I'm paying this much a month on a bare bones sport s. I could be paying that much for a Rubi that's understandable even with 5k down. Am I out of my league here or is this just an outrageous payment? Haven't haggled with them yet because I won't be able to order till next year but if this is the best they got I'll look elsewhere or is this going to truly be the payments I'm going to be looking at? Any feedback would be great

IMG_20190815_184100579.webp
As the price of a Sport is $35040 then it must have some options to come up with $38985??? That is a $4k delta...there is NO SUCH thing as a "Market Value Selling Price". All that is is a BOHICA price...RUN!
 

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Rex3rd

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As the price of a Sport is $35040 then it must have some options to come up with $38985??? That is a $4k delta...there is NO SUCH thing as a "Market Value Selling Price". All that is is a BOHICA price...RUN!
Should have taken a picture of the sticker on the window. I looked over everything on that truck and the only added option I saw was regular tow package and Bedliner. Had a 6 speed non premium top no radio upgrade no trail rail package ect so I can see it being at 38k but what had me irritated was that in order to get the 2k or whatever off you could only put a Max of 10% down. Which keeps the price high and they get to eat all that interest from you.
 

Ole Cowboy

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Should have taken a picture of the sticker on the window. I looked over everything on that truck and the only added option I saw was regular tow package and Bedliner. Had a 6 speed non premium top no radio upgrade no trail rail package ect so I can see it being at 38k but what had me irritated was that in order to get the 2k or whatever off you could only put a Max of 10% down. Which keeps the price high and they get to eat all that interest from you.
Lot of dealers will sell their soul to get you deep in high and long-time %, make more money than they ever make off the sale. In fact, since you pay % upfront, I have seen folks 3 years into a deal and be upside down so bad the dealer could not make the deal on a new one due to the amount financed was way beyond the guy's ability to pay.
 

TheSolarWizard

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84 month loan on a depreciating liability? Tell me how that makes good sense? Better have some great insurance!

As a general rule this is solid logic but a year old wrangler still has high value. I’d expect a gladiator rubicon to still be worth $25 - $28k at that time
 
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Rex3rd

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Lot of dealers will sell their soul to get you deep in high and long-time %, make more money than they ever make off the sale. In fact, since you pay % upfront, I have seen folks 3 years into a deal and be upside down so bad the dealer could not make the deal on a new one due to the amount financed was way beyond the guy's ability to pay.
There discount is around 5% under invoice but by they time your only allowed to put 10% down your screwed with a high payment. Now if they offered that deal and let me put whatever dollar amount I want down I'd be game. There basically saying we're not gonna cut you a deal but if you get accepted through these two places we get a deal to finance through them but we give it to you. Lol it's pure bull. They get money if you finance through there preferred finance but there's several places here that will give you 4 or 5% off and still let you put anything down
 

Blown7

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The interest on that paper is very high....

Whats your credit score?
 

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Rex3rd

Rex3rd

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The interest on that paper is very high....

Whats your credit score?
In the high 700s. They did not run my credit to give that estimate. I was also wondering if high interest was making payments go that high as well
 

WhiteJT8541

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While I do not work in finance, I do have a pretty decent understanding of it. What you want to know in reality is the net present value of the loan versus the lease. What that means is, how do the two compare buy vs lease. if you finance it, you usually pay higher monthly payments unless you put a ton down and have positive equity in your trade. Most, if not all, lease payments are cheaper than loan payments. What you want to know is, with money down, tax, etc, on a loan versus money down on lease, monthly payments, tax, and residual value of the vehicle at the end of the lease whether the two will be even or if one is a better deal than the other. Also consider, leasing allows you to put the extra money not spent on your buy option monthly payments, into some type of investment account and possibly earn a decent rate of return or spend it on mods if you choose. Plenty of calculators around to figure out which will be the best option. Also figure typical lease payments are 1% of the vehicle value, minus money down, security deposit, etc. You are much better off and have much better buying power already being pre approved by your bank or credit union and then walking into the dealership cash in hand. More than likely to make a deal on a sure thing versus an unknown.
 

ksh67

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This is the way to go. I have literally had times where the bank statement says nothing due this month. I still pay. Ole Cowboy is offering some sage advice (is that an appropriate cowboyism?) here. I get not everyone can pay like that but even an extra $25 or $50 a month can make a difference. This is why I can trade in my 3 year old LTZ on the Gladiator and knock the price down 10K. I can keep my cash in my pocket for some extras.

What life has taught me:

Fixed payments of any kind are a bane of people because our expenses fluctuate every month but our fixed payments don't. I used to go for short auto loans and big payments, but I found that caused a lot of juggling some months due to unexpected demands on my expense side of the ledger.

So what I do now is go for long term payment plans, giving me smaller payments. So now end up with a monthly fixed of say $700, when my payment on the short stick was going to be $1200. Since I pay bills electronically thru my bank I set up the account for a $1200 mtly payment. THen when something unexpected pops up, like I need to cough up for a new HVAC system at $12k and no interest option if I pay out in 6 months, then I grab it and adjust my monthly car note back to the $700 for 6 mo.

What this does is smooth out the monthly ups and downs in expenses. That said it does require DISCIPLINE. You cannot take on additional long term debt and your goal has to be to make the big payment every month.

In addition:

I have found over the years and a good friend who was my banker that paying down that car as fast as possible is good and its almost like having cash in the bank. Wife says I want to remodel the kitchen. You shop, budget it out and it's gonna be about $12k. That Jeep out there in the driveway paid off is worth $28k! you take the title go see your friendly banker and tell him you want $12k loan on you paid off Jeep with a long value of $24k...can you say LOW % rate. I have done this many time, built pools, remodeled you name it...try to get a pool or remodeling loan...today quoted rates:

Apply anytime and get funds fast
  • APR: 6.16% - 35.89%
  • Loan Term: 36-60 months
  • Credit Score: Fair/Good/Excellent
The paperwork requirement and other requirements such as appraisal etc are not worth the effort IMO.

If you need a small amount of money for a short time frame and you have significant equity in your vehicle and you want less than half of the vehicles wholesale worth I have got rates less than 3%.

It is also simple, go to the bank where its financed or bring in the title and walk out with a check in less than 30 min.
 

ksh67

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$38,800 (+6% sales tax) 10% down, $600 mo. Max Tow, Aux switches & slush mats, thats it. Nothing else financed. Probably one of the cheapest JT's around, but I still dig it.

IMG_2504.JPG
I though Max Tow package came with body color fenders? That is how it is advertised. Mine better show up that way...
 

AKDrifter

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I though Max Tow package came with body color fenders? That is how it is advertised. Mine better show up that way...
This has been hashed out here on the forums but no they do not come with body colored fenders. It comes with molded in color fenders. The color molded in is black. Painted fenders are unavailable on the Sports.
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