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

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Personally I will never finance with a dealership again, had a terribly bad experience with a Jeep dealership and I stick to my credit union. They have always had the best rates and they offer me "discounts" if I maintain a certain balance in my savings account with them, or if I have a direct deposit every month, etc. they actually give me a certain percentage off. I refinanced my 2014 with a new credit union when I relocated to Texas around 6 months ago and they brought my payment down by $20 a month and actually knocked several months off of my overall loan term. To say I was happy with the results is an understatement. 

 

Now I will say my father just took advantage of the HUGE discounts they were/are giving on the 2018 SLT's and he financed with his credit union and the only "incentive" they couldn't offer him was the GM Down Payment Assistance since you had to finance through GM to get that one. Sticker price around $56,000 and incentives had it down to $38,950, he traded in his 15 GMC, for a great price, paid $40,950 including TTL. Financed around $28k and lowered his monthly payments. They even put a leveling kit on and switched over his 33's, back seat storage box, and bed cover. Pretty good deal in my book! 

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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.  

 

On 6/18/2018 at 11:37 AM, Leevon said:

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

 

On 6/18/2018 at 11:48 AM, Racindave said:

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

I did this at the end of '17 with my '17 LTZ Z71.  I bought it December 18th and got pretty much everything but the sunroof.  $55K MSRP I paid $39K.

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The “must make 3mo’s payments” before refinance is false. I asked where it was in the contract and the guy had to leave the room and speak with a higher up. Came back and said THEY get the kick back after that time (or they “lose” money). Called GM to verify my terms and no penalty. Refinanced 3 weeks later. Don’t fall for it.


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Does anyone have insight into what next months or possibly Labor Day rebates will be? Last months rebates on the LT All Stars and the SLT Premium Plus models were quite a bit better than what has been offered this month by GM.

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I just picked up a 2018 1500 CCSB SLT Prem Plus with a few added options, MSRP was $57,540. I paid $45,500. I had to do the GM financial for some of it. But getting ready to refinance before my first payment.

Edited by braynshock

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This is some interesting timing as I was literally looking at two separate chevy websites that show the discount breakdowns on vehicles and both of them just stopped showing the discounts. The chevy websites must auto update and be tied into a system directly. Any dealer/sales people know more info on this?

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Anyone know the GMF rates for September?  I financed through GMF to get the $1,000 incentive when I bought my ‘18 SLT on Saturday and was told 6.75% was the best they can do.  I have over an 830 credit score so I should have been eligible for the top rate they have.

 

Any info would be appreciated.  I plan to refi or just pay it off, but want to know if I got hosed in F&I.  Thanks all!

Edited by QUIKAG

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If your FICO score is 830, you could get a much better rate with a Credit Union. Many credit unions online have less than 3.5 % APR.

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8 hours ago, nycrdknglouis said:

If your FICO score is 830, you could get a much better rate with a Credit Union. Many credit unions online have less than 3.5 % APR.

I know, but I wanted the $1k down payment assistance.  Just wondering if the FI guy charged a higher rate than needed??

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I know, but I wanted the $1k down payment assistance.  Just wondering if the FI guy charged a higher rate than needed??


That’s pretty high, pretty sure I got 4.99% with a FICO around 780. I’d just beat them up on the truck price and then use GM financial (for the rebate), then refinance after.


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Still, right now, you could apply to a Credit Union and get a much better rate. I use one is called Digital Federal Credit Union. I think their rate today is 3.49%

And there is one for the military or family of the military called Pentagon Federal Credit Union. For new vehicles, 1.99%...can't beat that. 

 

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7 hours ago, QUIKAG said:

I know, but I wanted the $1k down payment assistance.  Just wondering if the FI guy charged a higher rate than needed??

Think you got hosed a little. I have 785 and was told 5.79 was their best rate. At the table I said I wouldn’t do that rate and they said they had a “coupon” to lower it to 4.79. The guy later said that they basically just lowered it to take a lesser commission to make me happy. So they do indeed have that ability. 

 

None of it it really mattered since I planned to refi but I wanted a back up plan just Incase I had to wait a while to find a good rate. 2 weeks later I’m at 3.5 with a local bank. 

 

Edit: I still screwed myself a bit with the better deals now being offered “September.” I could have saved another 2 grand by waiting a month. Sheesh

Edited by batman900

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Thank you guys for your reply!  It confirms I got screwed a little.  I will be paying off this loan ASAP as I don’t owe them any favors at this point.  Thanks again!!

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On 8/22/2018 at 9:51 AM, ducklawyer said:

The “must make 3mo’s payments” before refinance is false. I asked where it was in the contract and the guy had to leave the room and speak with a higher up. Came back and said THEY get the kick back after that time (or they “lose” money). Called GM to verify my terms and no penalty. Refinanced 3 weeks later. Don’t fall for it.


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My Mazda dealer was honest on that. I made money off financing it, iand they just started told me to hold off for so many months so everyone was happy. Well, except Chase, who gave me $500 to use them but I only paid $42 in interest since I paid it off a few months later. Whoever made that bone headed no penalty loan offer probably didn't stick around long. My dealer was just advertising it to people who said they want to pay in full. Everyone made money but the bank. :Lol:. Customers got $450+-, dealer got a kick back. 

Edited by SnakeEyeSS

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I actually read the back of the finance contract for GMF.  It states that they "may" charge a $75.00 fee if paid off before 6 payments.  Since my other loan will save me $51. a month, I could be ahead of the game after two lower payments even if they added the $75. to the payoff quote.

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