13nick13

to be clear... this dude definitely paid more in interest than the example i gave but most people don't walk in and spend 65,000 on a truck and also there is no bank in michigan that offers 72 months at 2.85%. but to reiterate... HE DIDNT PAY 1200 LESS IN INTEREST OVER 6 MONTHS!

if you think you will SAVE 1200 in 6 months then you arent worth any more of my time because you clearly dont get it. Thats nice you know how to use excel. What i'm telling you is HOW IT IS AT THE DEALERSHIP. you go play on excel all you want. i'll go back to doing this math for a living and you can feel right. have a great day.

talk all the smack you want. i'm sitting here in front of a computer program we pay 5,000 a month for that tells me the right answers. you can pound your chest all you want to cheif. ur trying to tell me you paid 1200 less in interest in 6 months and you are WRONG WRONG WRONG.

im sorry, but you used bad information. At 6.99 your payment for 72 months would have been around $978. at 2.85 the payment is $867. that is financing 57,252.00 because thats as close to your numbers as i can get without spending a ton of time recreating your deal. your numbers aren't right though also my man. i'm telling you guys... i know how to do this math and you are doing it WAY wrong. so wrong in fact i dont even know how you are getting the answers so wrong

Everything you buy in life is marked up. start yelling about the grocery store marking stuff up too. maybe it will change something there. Maybe whatever you do, they should stop marking up their services and just do everything at cost. would that make things better for you? or is that kinda how an economy and capitalism works?

also.. if you could not be such a little whiner about how im on here "spreading misinformation" when you cant even calculate simple interest on a loan. sorry guy but sounds like you need to be put in your place because you are talking a lot for someone with the wrong answer. i am here trying to help you knuckleheads understand the truth of whats happening. u can either listen and know how it works, or interrupt with your own misinformed opinion and continue to not really understand. up to you, but i'm done reading your comments about how im trying to "mislead people"

dude... no offense.. but your math is wrong... financing 66,425 at 6.99% is not a 2240 payment. go back and check that again. its way off. Also... i do this 6 days a week dude. i know my math is good. i'm trying to be helpful and show you how it ACTUALLY works. my math is good

We just can't use the rebate if we don't go through GM financial, but you absolutely don't have to use it and go through them. We sign people up at credit unions way more often than we use GM Financial. A significant amount of credit unions don't allow dealerships to mark up their rates, but they pay the dealer a % of the amount financed. This is BY FAR the preferred way all around. My favorite credit union in the area has a 3.75 rate and pays me 2% of the financed amount. That works out great for everyone. The customer gets a good rate, and I can make a little money. On the second part about zero percent deals... The answer to that is, I DONT GET PAID TO DO 0% DEALS AT ALL. Zero percent deals and cash deals i do for 100% free. In fact, they only kill my per deal average. The thing that annoys me most is when people think we will give a discount for paying cash... Why would we do that when we would prefer you to finance? i realize people don't understand, so i'm only internally irritated. Just one of those things. Everyone has them at their job i'm sure.

Best point yet. I guess then you leverage whether or not 1-3 extra points on your score is worth the money you save after figuring the extra interest.

PLEASE... DON'T REFINANCE DEALS EARLY IF YOU BOUGHT FROM A SMALL CHEVY STORE!!! The small stores are dying and being gobbled up by giant dealer groups. PLEASE just keep the loan 6 months. I stand nothing to gain by keeping money in other peoples pockets, but small dealers are getting their throats cut at every turn by giant dealerships who can take a loss on a truck to steal a deal from a mom and pops store, because they know they will make it up in bonuses from Chevy. If you were lied to and told that you could not refinance, or that you would face a penalty, that is NOT OK and I don't support that. But i do support dealerships who can save their customer money and tell them how to avoid excessive interest rates while still making sound business decisions.

Every dealership is playing with the same deck of cards brother. No one has more rebates than anyone else. Some dealers are just willing to lose more money on the sale and hope for the payout if they hit their unit bonuses with chevy. if you ever hear an advertisement for one dealer advertising "employee price for everyone" they are using rebates to do it. No store has magic rebates as good as much as they will make you believe that they do.

OK so... here is how that all works. PLEASE READ THE WHOLE THING. I'm not trying to start a war. If you qualify for GM Financials A1 tier of credit, then the interest rate gm financial approves you at is 4.99%. Most people are paying 6.99% and being told they have to keep the loan 6 months. This is whats happening... The finance department makes profit by raising your rate from 4.99% to 6.99% IF the customer keeps the loan for a given amount of time. That period of time USED TO BE 3 months. What happened, was so many Chevy stores were marking up the 4.99% to 6.99% and TELLING their customers to refinance in 3 months because that was the cutoff for them to charge the dealership back. So GM Financial changed the rules and made it so the customer has to now keep the loan for 6 months OR the dealership will be charged back the $1,500 (or $1,000 whatever the rebate was) for the rebate we gave you. This can never be passed on to the customer. The dealership is the only one hurt when you refinance early. Not GM, not GM Financial. JUST THE DEALERSHIP. So anyone who got told if they refi too early, that they will be charged, got lied to. NOW BEFORE EVERYONE LOSES THEIR MINDS.... Try hard to remember that we all go to work to make money ok. And also REALLY READ the next part. So the rebate for financing with GM Financial has been either $1,000 or $1,500 depending on the truck. Lets look at a $1500 rebate. Say your decision is to either take a 3.75% interest rate at your credit union, or a 6.99% with gm financial with the extra rebate and they are telling you you have to refinance in 6 months. Ok, so if our truck is $50,000 and you finance for 72 months at 3.75% (figuring michigan 6% sales tax and all dealer fees) your payment would be $829.60/ month. Now we take the same $50,000, subtract the $1500 rebate, so now we are financing $48,500 for 72 months at 6.99%. Our payment is now $885.98. What that means is that every month you have the GM Financial loan, you are paying an extra $56.38/month. Multiply that by 6 months and you pay an extra $338.28 in interest. So if you are getting a $1500 rebate, you pay $338.28 back in extra interest, and you end up saving the remaining $1161.72. NO you don't SAVE $1500... but are you being RIPPED OFF? not really. I tell this full story to every single one of my customers who chooses the GM Financial rebates. Most places don't. I can't comment for them, but i will agree with anyone who says they should just give better interest rates rather than play games. I AGREE. But they don't. So if you want to save some cash off the bottom line, sure finance for 6 months and refinance at your credit union. If you don't want to hassle with it, just tell them you would rather use a credit union. The most you lose not taking the rebate is $1,100 to $1,200 at the end of the day.

DING DING DING DING DING! WE HAVE A WINNER!

To be clear... i'm not signing up to quote everyone 3 different scenarios on buying a truck. But if you have questions on financing, leasing vs. buying, rebates, need something double checked, or want your quote looked over for a second opinion, I would be more than happy to help you. I have no expectations of gaining business from this, I just think I can help people so i'm offering the help. (i'm in Michigan though so if you want to buy a car here, i wont kick you out) I don't need to sit and debate about how crappy car dealerships are either. Basically if you are a nice person, with a legit question about something having to do with buying or leasing a new truck, or even a used truck... let me know. It may take a day to get back to you, but i'll do my best to help in any way I can. I want everyone to get the truck they want for a fair price. OH... AND I SAID "FAIR" I'M NOT PULLING INVOICES AND TELLING YOU HOW MUCH A DEALER OWNS A TRUCK FOR. I will tell you, however, if your pants are around your ankles. Fair car deals make happy customers and keep me in business. Let me know if I can help.

Its different on every single truck, but for a Chevy Silverado, the dealer has about $3,000-$3,500 in profit.

check my last comment. that's exactly how i wish it was.

My dream would be Chevy stores like Apple stores. Everything is the same price at every store. Can i get a discount on the new iphone? NOPE. and they wont give you one over there either. Then people could focus on whats really important... DO YOU LIKE THE CAR? too many people buy based on a payment. I buy stuff I like.

100%!!! but that guy was like " i never buy unless its 0 percent" like he's getting a great deal... he didn't even realize he probably paid the exact same in the end... its all about perception. GM always gets theirs.

its beyond that. They make the rebates SO DIFFICULT to dissect. They leave little traps and when you find out you gave a customer a rebate and you didn't see they had to have a 1992 for escort in the driveway, you cant call the customer and say "oops we gave you a rebate we shouldn't have" no... you just have to eat it. Be mad at GM... but please... don't be mad at the dealership... unless they straight up lie or break your car or something obviously. Ask ANYONE who works in a car dealership. We hate it too. But its our lively hood, and we don't make the rules, we just play by them.

when you get 0% you give up all the rebates though. So really you only have the illusion of paying less.

The problem is... no one will go to the dealership who advertises REAL prices. you are doing it to yourself. Everyone wants a $200 a month lease on a new truck... so they advertise it, even though 3 people in the county can actually get that price. if we advertise the REAL price without gm employee discount, without lease loyalty, without all those qualifiers, NO ONE WILL SHOW UP! Wanna know how I know? WE'VE TRIED IT. People would rather be lied to about a good price and go in and get all pissed that they were lied to, than just go to the place that was honest and told you that the truck was going to be $350. Its the human condition. Want it all and not want to pay for it. If someone says you can have it all and not pay for it, you go there... even when you know its too good to be true. People who show up BLOWN AWAY that the price isnt what they saw in the ad confuse me.... like where have you been? this seems like common knowledge at this point...

They weren't lying. The way dealerships make money is to sell A LOT of cars. You may notice a lot of small dealerships being purchased by big dealer groups. Its because the small dealerships can't lose money to gain your business. What happens is that you get a quote from a small store and they do everything they can, they strip the deal all the way to where they are breaking even... then you take that quote to a big dealer, they are willing to lose 500 because they are going to sell 300 cars this month and chevy will give them a big kick back for doing that. That's how we do it in america though. We demand lower prices, then get mad when amazon owns everyone. These small family owned stores are a real treasure. The places where the owner is there every day. Those stores cant afford to lose money because you want to put their price up against a giant dealer group with deep pockets. Just don't be surprised when all your favorite car people are gone and its all giant dealer groups who don't care about a bad google review. I promise you right now that if you put in a bad google review at my store, THE WHOLE WORLD STOPS until that problem is solved. These places aren't going to be around because people never think about the intangibles. Maybe the small dealer is closer and they can pick up your car for service. Maybe your kid goes to school with someones dad there. Whatever the reason, i pay more to buy local. To take this one step further and really confuse you though... if a dealer hits a certain number of deals through gm financial, then they will give you "certs" that you can use to discount cars for other customers. so if you don't get your gm financial deals, you wont have that extra money to help other customers get better deals.

Thats your choice but the dealership you bought it from was charged $1500 from gm financial because you did that. I just hope it wasnt a small family owned store. They are the ones hurt the most by all of this. big dealerships can afford it.

you don't think we wish they didn't do that at all? don't you think we would like gm financial to have competitive rates? you don't think every dealer in the country wishes there were better incentives on the new body style silverado's? The reason this happens is because you want EVERYTHING. You want ALL THE REBATES, AND you want the car at invoice... the dealership HAS TO MAKE MONEY. I don't expect you to understand or believe me but you would be SHOCKED if you saw on average how much we make selling a car. I am not asking you for sympathy. what i'm telling you is that you don't have a good understanding about how car dealerships make money. Your opinions were formed in the before the last 10 years most likely and before the internet made pricing so much more transparent. I understand your concerns, but at this point you are really just being stubborn. If you knew me and came to my store, and had it explained right from jump street that you just have to take this dumb rate for 6 months and then you can refi the loan... i even offer for them to call me and i'll tell them which credit union has the best rates.... you would not be mad at me for trying to make a little extra money at gm financials expense. If it was hidden from you... i can see why you would be salty about it. But if they told you 6 months, to me, that says they wanted to make sure you didn't have to pay 10,000 in interest.

IF they tell you that you HAVE TO make 6 payments or face a penalty, THEN they are lying 100%. you dont sign anything that says that and the only person who gets charged a penalty if you refinance early is the dealership.