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Started By
Message
re: Negotiating A New Truck
Posted on 6/15/16 at 1:21 pm to nikki6
Posted on 6/15/16 at 1:21 pm to nikki6
quote:
I was going to finance through Ford motor credit to get the $500 rebate and then refinance next month with a credit union for what I'm assuming will be a much lower rate.
Don't do this unless the rate is way lower.
Correct thinking on the warranty, only buy OEM, not aftermarket warranty. You can wait and buy it later.
This post was edited on 6/15/16 at 1:23 pm
1
Posted on 6/15/16 at 1:35 pm to VetteGuy
quote:
Don't do this unless the rate is way lower.
Dont refinance or just don't finance through Ford? I thought it was a good idea to finance through Ford to get the extra $500 rebate ( and no, I doubt Ford will be a low rate although i do have excellent credit), and then refinance with a credit union or bank or whoever gives me the lowest rate? Why is this a bad idea?
Posted on 6/15/16 at 2:08 pm to nikki6
Finance wherever you get the best rate/rebate.
Beginning one finance contract and cancelling it a few days later will result in you paying the interest charge on the entire financed amount for that period of days.
In other words, let's say you finance $30K for 36 months at 2.9%.
You decide to cancel after 7 days. You will still have to pay the APR on the money for the time you used it. It may only be $200 or so, but that may not be worth it to engage in another contract.
Beginning one finance contract and cancelling it a few days later will result in you paying the interest charge on the entire financed amount for that period of days.
In other words, let's say you finance $30K for 36 months at 2.9%.
You decide to cancel after 7 days. You will still have to pay the APR on the money for the time you used it. It may only be $200 or so, but that may not be worth it to engage in another contract.
Posted on 6/15/16 at 2:33 pm to VetteGuy
Gotcha, thanks! I'm getting financing through USAA right now and I'll see if dealership can beat it. I'm only financing about $15k.
Posted on 6/15/16 at 4:16 pm to VetteGuy
quote:
Beginning one finance contract and cancelling it a few days later will result in you paying the interest charge on the entire financed amount for that period of days.
In other words, let's say you finance $30K for 36 months at 2.9%.
You decide to cancel after 7 days. You will still have to pay the APR on the money for the time you used it. It may only be $200 or so, but that may not be worth it to engage in another contract.
That's why you have your financing set up beforehand and do the refinance that same day.
Posted on 6/15/16 at 4:20 pm to LNCHBOX
quote:
do the refinance that same day.
Best read the fine print...
Some will hit you with a minimum charge.
(they are on to us.)
Posted on 6/15/16 at 4:24 pm to nikki6
OK, you're golden. Everybody wants paper (loans) like that.
Just remember the F&I guy.
He is there to wring out that last bit of cash.
Remain cool and if there are too many extra doc fees or shop fees or prep fees or any other nonsense, say these words:
"Look, I came here b/c 'blank' beat the price and and I said I would buy today, and I am. If you keep up with this ticky-tacky BS, I'll head over to Dealer A."
And mean it.
Just remember the F&I guy.
He is there to wring out that last bit of cash.
Remain cool and if there are too many extra doc fees or shop fees or prep fees or any other nonsense, say these words:
"Look, I came here b/c 'blank' beat the price and and I said I would buy today, and I am. If you keep up with this ticky-tacky BS, I'll head over to Dealer A."
And mean it.
Posted on 6/15/16 at 10:48 pm to VetteGuy
Thanks for all the advice Vette I drove home in my new truck tonight. All done I paid $30,990+ tax, title, license. It was crazy though. Everytime I'd cancel the appt with one sales guy saying I'd decided to go with the other dealership, they'd beat the price by $500 then $250 and finally $100. It was back and forth. I ultimately decided to go with the dealership closest to me, which is also the more upscale dealership(brand new facilities, coffee bar, etc). They threw in a spray in bedliner and offered $500 more on my trade than it was really worth to help me make my decision.
They didn't try to tack on any fees. I got a preapproval from USAA at 1.9% but salesman told me to go Ford credit for the $500 rebate and refinance as soon as I felt like it. He said there will be a chargeback but that it is charged to dealer not the customer so the dealership would have to pony up part of that $500 if I refinance before rebate goes through. He told me not to tell the finance guy that
Finance guy pushed extended warranty, but I passed. I know I can buy later on and at a better price online. He also advised me to refinance, but after the 3rd payment.
Overall it was a very pleasant experience. It's a no pressure dealership and everyone was really nice. No sleazy tactics, hidden fees, or tricks.
I drove home in my new truck tonight. All done I paid $30,990+ tax, title, license. It was crazy though. Everytime I'd cancel the appt with one sales guy saying I'd decided to go with the other dealership, they'd beat the price by $500 then $250 and finally $100. It was back and forth. I ultimately decided to go with the dealership closest to me, which is also the more upscale dealership(brand new facilities, coffee bar, etc). They threw in a spray in bedliner and offered $500 more on my trade than it was really worth to help me make my decision. They didn't try to tack on any fees. I got a preapproval from USAA at 1.9% but salesman told me to go Ford credit for the $500 rebate and refinance as soon as I felt like it. He said there will be a chargeback but that it is charged to dealer not the customer so the dealership would have to pony up part of that $500 if I refinance before rebate goes through. He told me not to tell the finance guy that
Finance guy pushed extended warranty, but I passed. I know I can buy later on and at a better price online. He also advised me to refinance, but after the 3rd payment.
Overall it was a very pleasant experience. It's a no pressure dealership and everyone was really nice. No sleazy tactics, hidden fees, or tricks.
This post was edited on 6/16/16 at 9:35 am
Posted on 6/16/16 at 9:01 am to nikki6
quote:
Overall it was a very pleasant experience. It's a no pressure dealership and everyone was really nice. No sleazy tactics, hidden fees, or tricks.
Care to share the name?
Posted on 6/16/16 at 9:21 am to LNCHBOX
Prestige Ford in Dallas, TX. Visiting some family here and always heard Texas had much better deals on cars & trucks than smaller markets like New Orleans, Baton Rouge etc. Seems to be true.
Posted on 6/16/16 at 9:25 am to nikki6
If they did you right, I would hold off on the refi like he asked/suggested. Its not really going to cost you any money to wait another month or so and it lets them keep that full finance incentive (i think).
Posted on 6/16/16 at 9:34 am to AUjim
You're right
Posted on 6/16/16 at 2:15 pm to nikki6
quote:
You're right
Good deal.
Yeah, if they did you right, do them right.
I bought a new truck for cash years ago in Ashdown, AR. (gift for employee)
The dealer asked me to finance it so he could make the fee. He split it with me so even after allowing for the interest, I made like $300.
Posted on 6/16/16 at 2:38 pm to AUjim
They usually ask you to wait 3 months before refinancing
For a 500 dollar rebate, depending on your interest rate, you will pay most of that back in interest over the 3 months (a lot of variables assumed here)
It's up to you. I haven't waited that long in the past but it's usually because the dealer tried to lie saying that I would lose the rebate if I did it early. They are conniving sometimes.
For a 500 dollar rebate, depending on your interest rate, you will pay most of that back in interest over the 3 months (a lot of variables assumed here)
It's up to you. I haven't waited that long in the past but it's usually because the dealer tried to lie saying that I would lose the rebate if I did it early. They are conniving sometimes.
Posted on 6/16/16 at 2:40 pm to Croacka
quote:
you will pay most of that back in interest over the 3 months
I was thinking that as well. (Rule of 78)
Posted on 6/16/16 at 3:54 pm to Croacka
This post was edited on 6/16/16 at 10:23 pm
Posted on 6/16/16 at 10:24 pm to SirSaintly
Seems most refinance when going through Ford Motor Credit. I think Ford expects it. I'm also not sure why they don't try and be more competitive.
Posted on 6/17/16 at 3:41 pm to nikki6
Pic of truck? Great job negotiating. 
Posted on 6/17/16 at 5:37 pm to VetteGuy
Just promise me you will upgrade the tires and not get the tiny arse stock tires that come with the new f150s. I love the trucks but they look so top heavy with those little things
Posted on 6/19/16 at 6:48 am to nikki6
shop around online for the Ford ESP. you can buy that from any Ford dealer, even after you buy the truck. bought mine online from a Lincoln/ Merc dealer for my Ford truck
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