Financial (buying, trading, gm card, private offers etc) Section

Tahoe02 · April 29, 2018

Its really hard to know if the incentives will get better. You may want to wait for Memorial Day and see what happens. Good luck.

Dr Awesome · May 21, 2018

Got my 2018 Sierra 1500 CC SLT in February at West Metro in Monticello, MN. MSRP $56,645 and paid $44,800 plus I got $1000 for financing through GM. The catch with GM Financial is they want you to make at least 3 monthly payments or they take the $1000 back and their interest rates are higher. I knocked principle down a bunch to minimize interest so I'll get most of that out of them.

nycrdknglouis · May 23, 2018

On 4/19/2018 at 1:30 AM, tbarn said:

That would be damn near impossible to know. Too many GM dealer incentives/kick backs

When you are in sale, there is a thing called multiplier. If you sale 100% of your quote you get 100% commission. But if you sale 105% you get more than 105% commission. If you go 110% even much more than 110% commission. Same with dealers. Not even the sales people know the real price of a vehicle. Commissions are disbursed quarterly...so, early June, how anyone could possible know the real price?...what if they don't meet quote or if their surpassed it? At the same time, a sales Mgr, keeps all sales force informed exactly where they are in a weekly basis, so, they know how far they may "discount" a vehicle to secure a sale. Now, my formula is not to rush and to shop, to shop and shop more until I am comfortable with a deal.

nycrdknglouis · May 23, 2018

On 5/20/2018 at 11:57 PM, Dr Awesome said:

Got my 2018 Sierra 1500 CC SLT in February at West Metro in Monticello, MN. MSRP $56,645 and paid $44,800 plus I got $1000 for financing through GM. The catch with GM Financial is they want you to make at least 3 monthly payments or they take the $1000 back and their interest rates are higher. I knocked principle down a bunch to minimize interest so I'll get most of that out of them.

My last vehicle purchase was Sep 2015. I got a deal and among other things, because I financed with GM they gave me $1500 off...but, as soon as I find out the GM loan account number, I paid it off with a Credit Union loan with much much lower finance cost. Now, they are requesting at least 3 months payment at their rate...so, what to do to get the "Financing with GM" deal?...take the deal and paid off the loan minus first 3 months difference with a loan to other financial institution and I am sure the new financial institution will wait up to those 3 months to get their title if that's what they do in your state. My Credit Union, gives me 60 days to send the title with a lien under their name.

tstodda · June 9, 2018

I just purchased my new Silverado and took the GM financial high rate in exchange for the ‘down payment’ assistance. I was told I need to make 7 payments but could not get that verified in writing or see anything I signed that says I can’t pay my loan off. My guess is the dealership gets their kick back after 6 payments. Everyone’s situation is different but I hope customers are doing the math on high rate versus the 1000-1200 off up front.

If anyone gets penalized for early payoff I bet it’s the dealer, assuming I didn’t agree to an early payoff penalty they cannot change the terms of my purchase agreement- would be happy to be enlightened on this topic.

Jchoi · June 10, 2018

8 hours ago, tstodda said:

I just purchased my new Silverado and took the GM financial high rate in exchange for the ‘down payment’ assistance. I was told I need to make 7 payments but could not get that verified in writing or see anything I signed that says I can’t pay my loan off. My guess is the dealership gets their kick back after 6 payments. Everyone’s situation is different but I hope customers are doing the math on high rate versus the 1000-1200 off up front.

If anyone gets penalized for early payoff I bet it’s the dealer, assuming I didn’t agree to an early payoff penalty they cannot change the terms of my purchase agreement- would be happy to be enlightened on this topic.

I was told three payments so the dealer doesnt get a charge back, but I don’t know if this is universal. I may be wrong though, but that’s what I plan to do. I specifically asked I’d there was a pre payment penalty, and there isn’t one.

tstodda · June 10, 2018

1 hour ago, Jchoi said:

I was told three payments so the dealer doesnt get a charge back, but I don’t know if this is universal. I may be wrong though, but that’s what I plan to do. I specifically asked I’d there was a pre payment penalty, and there isn’t one.

Thanks, yes 3 months is more common- no idea what 7 months means to my dealer.

Leevon · June 15, 2018

Just bought my '18 crew cab Z71 w/ All Star Edition and a couple of options. Ended up around $34,500 with more than $12,000 in various rebates and incentives. The financing incentive was good for $1,000. The rate was terrible, but the contract does not have any pre-payment penalties so I'll be transferring the loan to my own lender. I also redeemed some GM card points. All in all I thought it was a fair deal...should only get hotter as the year winds down and 19's are rolled out. I'd say November/December this year we'll see some serious discounts.

Edited June 15, 2018 by Leevon

MANDINGO · June 18, 2018

On 6/15/2018 at 2:27 PM, Leevon said:

Just bought my '18 crew cab Z71 w/ All Star Edition and a couple of options. Ended up around $34,500 with more than $12,000 in various rebates and incentives. The financing incentive was good for $1,000. The rate was terrible, but the contract does not have any pre-payment penalties so I'll be transferring the loan to my own lender. I also redeemed some GM card points. All in all I thought it was a fair deal...should only get hotter as the year winds down and 19's are rolled out. I'd say November/December this year we'll see some serious discounts.

Serious discounts but with very limited options

Leevon · June 18, 2018

What do you mean? Vehicle options? That's exactly what I wanted. Same bundle of discounts applied to LTZ's...

Edited June 18, 2018 by Leevon

Racindave · June 18, 2018

9 minutes ago, Leevon said:

What do you mean? Vehicle options? That's exactly what I wanted. Same bundle of discounts applied to LTZ's...

I think he means less trucks to choose from later in the year when incentives might be better.

Leevon · June 18, 2018

That makes sense, might be more base and "custom" trim trucks available then. But if you're buying and keep an eye on things, I think this fall will still be a great time.

Jchoi · June 18, 2018

On 6/15/2018 at 5:27 PM, Leevon said:

Just bought my '18 crew cab Z71 w/ All Star Edition and a couple of options. Ended up around $34,500 with more than $12,000 in various rebates and incentives. The financing incentive was good for $1,000. The rate was terrible, but the contract does not have any pre-payment penalties so I'll be transferring the loan to my own lender. I also redeemed some GM card points. All in all I thought it was a fair deal...should only get hotter as the year winds down and 19's are rolled out. I'd say November/December this year we'll see some serious discounts.

I’d say this is more than a fair deal, so good for you. I didn’t do quite as well because I missed out of GM loyalty rebates.

2018SLTPrem · June 20, 2018

On 5/20/2018 at 10:57 PM, Dr Awesome said:

Got my 2018 Sierra 1500 CC SLT in February at West Metro in Monticello, MN. MSRP $56,645 and paid $44,800 plus I got $1000 for financing through GM. The catch with GM Financial is they want you to make at least 3 monthly payments or they take the $1000 back and their interest rates are higher. I knocked principle down a bunch to minimize interest so I'll get most of that out of them.

Same thing here got my 2018 GMC 1500 Sierra CC SLT Premium Plus Package 4x4 5.3L from Cavender GMC here in Texas, with all the incentives which was about a total for 14,000 off I drove out with the price of 43k on top of that I had a trade in on a 2015 Dodge Charger which brought it all the way down to 33 and so change out the door.

Edited June 20, 2018 by Zee Ali

EDL · June 24, 2018

Purchased my 2018 Wednesday June 20th. I bought it from Progressive Chevrolet in Massillon, OH. I originally was looking in PA (my state) and found some with what I though was some good discounts, but they had certain qualifications like financing with GM, etc.

I then started looking in Ohio and ended up on Progressive Chevrolet's website and found a black truck (no midnight edition) with the LTZ Plus package, Z71, tow package and the 6.2L v-8...and it was a double cab, which I wanted. It's loaded, nav, leather, heated and cooled seats, upgraded Bose stereo, step bars, spray on liner, etc. It has a few chrome bits here and there, but I fell in love with the 7-spoke silver (actually a kind of grayish silver) 22's that are on it.

Progressive Chevy didn't list all the various discounts individually like the other dealers were doing, they just had the sticker price and their price. The sticker on the truck was $58,295 and they had the price listed at $43,631. Only about $1000 more than what I originally found the LTZ crews with the 5.3 (and I would have had to add that $1000 back in anyway as I wasn't going to finance with GM. So, I headed over there and bought the truck.

There was no special qualifications and I didn't have to finance with GM to get the price either. They said that's the price for everyone, period. They were prompt, they were low pressure (the only two things extra they tried to sell me was a paint and fabric protection package and an extended warranty). I said no thanks to both and that was the end of it. The only issue we ran into was they wanted the funds from my bank in their account before they'd release the truck, but my bank only sends funds via UPS Ground (kinda silly, but whatever). The finance manager spoke with my bank rep and agreed to accept a written guarantee they'd get their funds even I drove off the lot and totaled the truck. It took about 5 minutes to settle that deal. My salesman was knowledgeable, polite and hustled his butt off. I was at the dealership for a total of about 2 hours, and some of that was me and the wife hanging out and just looking at their huge inventory.

I traded in my 2014 Grand Cherokee with 102,000 on it (still owed some on it), got very close to what I wanted for the trade, not a penny out of my pocket and drove off with my new truck for $8 more per month than I was paying on the Jeep.

All in all, one of the smoothest, hassle free car buying experiences I've ever had at a dealership and I think the discount price was pretty darn good.

Edited June 24, 2018 by EDL