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Discussion in 'Hardscaping' started by DVS Hardscaper, Jan 25, 2012.
Said it was financed for 1.25% and you typically dont get good rates for terms shorter than 5 years
Yeah your right. I should be glad people buy shiny toys.
Your keyword I realize is "typically".
But you're not correct. I had a 0% note With CNH for 4 years. Fact is,
There is no such thing as 0% or even 1.5%. They bake the finance charge into the machine price. CNH didn't finance my machine for free, nothing is ever free, you pay one way or the other.
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It's like people that trade their old stuff in and keep negotiating a higher price for the trade in. Meanwhile, it's getting tacked on the sale price.
It's strange how people just know how everything works for other people. Our 2 last duramax 2500's I bought new. 0% for 72 months. I got my pricing before they knew if I was paying cash or financing. I always go to 3 dealerships and tell them I am buying a truck, what's your best cash price. Hasn't wronged me yet.( except with the 6.0 ford diesel.... P.o.s.)
My old man used to own a GMC truck dealership. See, the manufacturer's finance company work out all the details with the manufacturer behind the scene, prior to launching the program, and do not involve the dealer. Your transaction with the dealer has nothing to do with the 0% interest. This is why banks and credit unions don't offer 0% financing, they're not affiliated with the manufacturer and can't funnel the money in through the back door.
The finance companies are in business to make money, just like you and I are. They're all about numbers, and be assured - your loan isn't free. They're making a few hundred off of you
And you're correct, always get the vehicle price up front. No not even hint about trade in, or how you're going to pay for it. Infact, dealers like you to finance the deal, as they make money from writing the finance. Most dealer finance managers make no less than $150k / year. I had a buddy buy a 4-Runner, cash, OH that finance manager was furious because he didn't make a dime and he had to handle the final papers! He didnt say he was mad, but I could tell by his demeanor.
One of my friends owns a GMC dealership and he tried to get me to buy a new SUV for my wife. The 0% price was more than the cash price by about 3-4k. I ended up buying a 4- year old SUV with 25k miles for about 25k less than a new one. Its still pretty shiny!! I pay cash for everything so it is much harder to let go of the money, and it forces me to find the absolute best deal I can find.
Regardless of what you negotiate, certain aspects of zero percent financing can't be negotiated.
They don't offer the same rebates, etc... when you get the zero % financing.
You might still qualify for a dealer cash rebate, in which they will just add to the bottom end.
A dealer will not sell you a new vehicle at a loss, neither will the manufacturer.
Just like you won't install a drive well below your cost and tell the customer they can pay in 2 years.
Your saying a lot of things we already know.
I just re-read all my post... I didnt see where I said, "Hey, I bought a truck... and it was sooo cheap, the dealer didnt even make any money, I WON"
Im off to go buy a new 60" LED for my office... Yep... NEW!
And im going to put in on my credit card.. and pay it off before my due date.. I BEAT THE MAN!
And noone seemed to mention how Dealers make a higher NET on used vehicle then they do on new. Hence all those " WE WANT YOU USED CCCAARRRRRR" ads