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RyanbabZ71

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

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The easiest and most likely would be titled date.


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Got it figured out. Thanks!

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My '14 SLT stickered at 42K, got it for that out the door with a few accessories added and I'm ok with it. I paid cash and did not have to hassle with financing, high interest rates, ect. Most important, it was titled in my name day one, not the finance Co.

Edited by beetle

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On 2/27/2019 at 8:05 AM, Grumpy Bear said:

If you pay cash there is an $11,250 upcharge? So what does a "Cash Allowance" mean? Means the truck is overpriced. Not compared to it's MSRP. Not compared to the 'customer invoice'. Not compared to the GM 'floor plan". Compared against it's pre-

profit cost of production. Even the Insured 'gap value' is to high. Don't think so? Compare it to the salvage value v auction value. 

 

When you are forced to buy 'full coverage' to finance; it does more than protect you against losses. It protects the banks. In essence  you to pay for the banks insurance policy on your truck. The insurance company is no longer a 'public pool' of our resources that we pay some administrator some 'reasonable fee' for his management services. It's a profit center. It will never structure a claim as a 'fair deal'. You will always pay more than you will ever receive. Their bottom dollar is the trucks real 'market value' because boys and girls that IS the market they are all MAKING, not it's cost.  Point of this windy ramble is when a manufacture advertises a deal like this they LIE about it's value, discounts fully discounted are still well above any reasonable profit you will ever receive for your work hours.

 

They sell you a nickel candy bar for an MSRP of a dollar, discount it fifty cents and we are suppose to get all warm and fuzzy over it.

 

Put a GMC grill in a Silverado and jack the price higher. Put a Cadillac grill in a Yukon and jack it up again. And still we fall for it. Then complain to the wife about her Kohls 'bucks'. :lol:  "Honey I just bought this hundred dollar blouse for 80% off"! Really? 

 

 

You aren't wrong. The only thing I would add is that all that profit is NOT at the dealer level. A brand new Silverado at GMS just with the rebates everyone gets, the dealer is making about 3000 on a 1500 Silverado. On a cruze, the dealer profit is usually under 1000 and that's saying that the customer doesn't negotiate past the GM employee price and the rebates they qualify for. If i were a salesman i would expect to make about 300 on a straight GM employee deal. Usually they make less because that price is negotiated. But that wont always work because Chevy wont let dealers discount past GM employee price for half of the model year. We just started being able to go under GM employee in the last month or so on trucks. For context, I am a finance manager at a chevy store in michigan.

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On 3/7/2019 at 11:16 AM, Nitrousbird said:

What's everyone seeing for a re-fi APR?

 

I did GM Financial for my loan to get the extra cash incentive.  Obviously, the APR is garbage on that loan.  I'm sitting around an 820 credit score with the only debt on my credit being this truck loan (put half down cash) and whatever balances are on my credit cards at the time the report is pulled (I pay them off every month).  I basically qualify for whatever the best rate is available.

 

I keep checking for the "best rate" and what is being advertised is not what is actually offered.  I refuse to let anyone pull my report without telling me the APR based on the credit score I provide them.  Today's BS deal was Lending Tree pushing me to iLending Direct, stating a 2.25% APR for 48 or 60 months.  Yet when I'm able to dig deep into it with the guy, he was offering in the 4% range.  I've already been quoted 3.89%, so I told him I'm not interested unless he could beat that.  He obviously couldn't as he very quickly got off the phone with me.  I'm looking for less over the next week or two.  I should have dealt with this a couple of months ago but I've been too busy, unfortunately, which is what GM Financial banks on.

what was your rate through gm financial? the rate the dealer could have given you was 4.99. usually they mark that up to make money and ask you to finance for 6 months so gm financial pays them their kickback. its a good setup for the customer and the dealer. you just have to remember to refinance. Sounds shitty for the dealer to do that, but in the end, they make like 1500 bucks, you get a 1000 discount, and if you refinance in 6 months, you will have only paid about 200 bucks in interest. so you still make out 800 bucks ahead or 1300 bucks ahead (idk if that rebate was 1000 or 1500). AND the dealer got to make a little money. The only real loser is GM financial which is ok by me. hahahahha

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On 4/19/2018 at 12:12 AM, Tiger427 said:

Does anyone know the true mark up on the GMC Sierra 1500's??

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

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