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fishingtruck

What did you pay for your truck?

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6 hours ago, scdaren said:

Pretty sure you can refi day one with no penalty. I did. Here in California it's pre-printed on the standard sales contracts that there is no prepayment penalty. 

Yeah the only question is how much highers is the refi rate compared to the new loan rate.  Over the lifetime of the payments I think you still end up paying about $500 more overall even if the price starts $1K lower.

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6 hours ago, scdaren said:

Pretty sure you can refi day one with no penalty. I did. Here in California it's pre-printed on the standard sales contracts that there is no prepayment penalty. 

GM Financial loans are simple interest loans with no prepayment or refinance penalty of any kind, in any state, but if you get a GM Finance rebate or finance bonus cash or finance incentive cash, you must keep the loan for at least 90 days or you forfeit that GM Finance “bonus” money. 

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19 minutes ago, AFBeale said:

Yeah the only question is how much highers is the refi rate compared to the new loan rate.  Over the lifetime of the payments I think you still end up paying about $500 more overall even if the price starts $1K lower.

That all depends upon your finance interest rates which are based upon your credit scores, etc. You have to do the math to see if it works for you or not. I intended to buy cash deal, but GM offered $1500 finance incentive to take out a loan with GM Financial. The interest rate was high even though I have excellent credit, so I paid $50,000.00 on first payment which was maximum online payment amount, then paid all but a few hundred dollars 30 days later, and paid off entire balance on day 91 so I would not lose the GM $1500 finance incentive which cost me a hundred bucks or so in interest, but the dealership finance manager added $300 to my trade to cover that and I paid less taxes that way as well. YMMV 

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5 hours ago, GMCShack said:

That all depends upon your finance interest rates which are based upon your credit scores, etc. You have to do the math to see if it works for you or not. I intended to buy cash deal, but GM offered $1500 finance incentive to take out a loan with GM Financial. The interest rate was high even though I have excellent credit, so I paid $50,000.00 on first payment which was maximum online payment amount, then paid all but a few hundred dollars 30 days later, and paid off entire balance on day 91 so I would not lose the GM $1500 finance incentive which cost me a hundred bucks or so in interest, but the dealership finance manager added $300 to my trade to cover that and I paid less taxes that way as well. YMMV 

No I don't think you understand --- you can both take the rebate, then immediately turn around and refi at a much lower rate. In my case I got a $6000 rebate tied to GM Financial, kept it, and did a refi 8 days after I bought the truck. Went from 6% to 3%. I do not need to give back the rebate. 

 

Maybe your contract says something different, but mine says no prepayment penalty, and nowhere did I have to sign something requiring me to pay the GM loan for 90 days. 

 

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6 hours ago, GMCShack said:

GM Financial loans are simple interest loans with no prepayment or refinance penalty of any kind, in any state, but if you get a GM Finance rebate or finance bonus cash or finance incentive cash, you must keep the loan for at least 90 days or you forfeit that GM Finance “bonus” money. 

Got rebate for financing with GM and refinanced.  No loss of bonus cash...  So unless you have a contract that explicitly states this, I have had the same experience as others on here that it is just the dealership blowing smoke up you know where.

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Posted (edited)

Just got my brand new AT4 with the following options for $53,284 before TTL.  MSRP was $65170.  Dealership was asking $58085 after the GM discount and dealer discount.  Used car buying strategies I found on the internet to get the deal.     

 

  • Sunroof, power $995.00
  • Technology Package $1,875.00
  • Satin Steel Metallic $495.00
  • Engine, 6.2L EcoTec3 V8 $2,495.00
  • Wheels, 20" x 9" (50.8 cm x 22.9 cm) multi-dimensional polished aluminum $895.00
  • AT4 Premium Package $3,100.00
  • Driver Alert Package II $745.00
  • Tires, 275/60R20SL all-terrain, blackwall $200.00
  • LPO, Wheel locks, set of 4 $75.00
  • AT4 PREMIUM PACKAGE DISCOUNT -$500.00
Edited by txat4

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8 hours ago, txat4 said:

Just got my brand new AT4 with the following options for $53,284 before TTL.  MSRP was $65170.  Dealership was asking $58085 after the GM discount and dealer discount.  Used car buying strategies I found on the internet to get the deal.     

 

  • Sunroof, power $995.00
  • Technology Package $1,875.00
  • Satin Steel Metallic $495.00
  • Engine, 6.2L EcoTec3 V8 $2,495.00
  • Wheels, 20" x 9" (50.8 cm x 22.9 cm) multi-dimensional polished aluminum $895.00
  • AT4 Premium Package $3,100.00
  • Driver Alert Package II $745.00
  • Tires, 275/60R20SL all-terrain, blackwall $200.00
  • LPO, Wheel locks, set of 4 $75.00
  • AT4 PREMIUM PACKAGE DISCOUNT -$500.00

Awesome deal. What kind of strategy did you use? I'm looking to purchase an SLT this week. 

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30 minutes ago, ugaDAWGS09 said:

Awesome deal. What kind of strategy did you use? I'm looking to purchase an SLT this week. 

First, I used the NADA site (https://www.nadaguides.com/) as it will give you invoice pricing for every option for any vehicle along with invoice for the vehicle.  The MSRP prices for the options came out exact when you look at the window sticker on these car dealers sites, so you know its legit.  I then used a spreadsheet found here https://www.carbuyingtips.com/download.htm  When you are looking at these on the internet, I factored in all the rebates and the dealer savings as a whole.  It took a little bit of time for a dealership to bite but they did and took my offer to the penny.  I did everything via email, and a bit of talking on the phone.  My time is valuable and I'm not going to go sit down at a dealership and get screwed around as none of you should.  I also made them show me a buyers/purchase order with that price before I drove down to the dealership as it was over an hour from me.  When I got their, filled out the credit app, checked the truck out (already test drove one) then it was on to finance and I was out the door.  Extremely painless.  

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3 hours ago, txat4 said:

First, I used the NADA site (https://www.nadaguides.com/) as it will give you invoice pricing for every option for any vehicle along with invoice for the vehicle.  The MSRP prices for the options came out exact when you look at the window sticker on these car dealers sites, so you know its legit.  I then used a spreadsheet found here https://www.carbuyingtips.com/download.htm  When you are looking at these on the internet, I factored in all the rebates and the dealer savings as a whole.  It took a little bit of time for a dealership to bite but they did and took my offer to the penny.  I did everything via email, and a bit of talking on the phone.  My time is valuable and I'm not going to go sit down at a dealership and get screwed around as none of you should.  I also made them show me a buyers/purchase order with that price before I drove down to the dealership as it was over an hour from me.  When I got their, filled out the credit app, checked the truck out (already test drove one) then it was on to finance and I was out the door.  Extremely painless.  

Thanks so much for the information. I'm gonna see what I can do with the truck I'm looking at, might save another couple grand. 

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I used the exact same strategy as TXAT4. I won't waste my time playing games at a dealership. I emailed the salesman I test drove my AT4 with a few weeks prior to let him know I was a serious buyer and prepared to buy today if we could come to an agreement. After some back & forth emails, they met my price and I went in with financing in hand and had my truck about an hour or so later. I saved $12k on a truck that the dealer had $0 marked off of. My husband wanted nothing to do with the process (which is probably a good thing; too many cooks in the kitchen ;) )

 

With all the information available online and the "alternative" ways to work with dealerships, I don't feel like anyone should subject themselves to sales pressure and the ol' 4-square torture we've had to endure in the past.

Good luck, ugaDAWGS09, I hope you can get what you want for what you want to pay.

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On 6/23/2019 at 8:54 AM, scdaren said:

No I don't think you understand --- you can both take the rebate, then immediately turn around and refi at a much lower rate. In my case I got a $6000 rebate tied to GM Financial, kept it, and did a refi 8 days after I bought the truck. Went from 6% to 3%. I do not need to give back the rebate. 

 

Maybe your contract says something different, but mine says no prepayment penalty, and nowhere did I have to sign something requiring me to pay the GM loan for 90 days. 

 

 

On 6/23/2019 at 10:29 AM, jwhjr said:

Got rebate for financing with GM and refinanced.  No loss of bonus cash...  So unless you have a contract that explicitly states this, I have had the same experience as others on here that it is just the dealership blowing smoke up you know where.

No, I understand perfectly. First, the dealership gets kickback money for all loans that they sell, but they must stay open at least 90 or for 3 full payments, whichever occurs first. If the loan is paid off as in a refi, they lose that money, commonly a fixed amount of $500, but these deals vary by the state due to financing laws and if not also between the manufacturer and dealership based upon the volume of sales or something similar. The dealership made a deal with me to pay my interest for 3 months if I took $1500 financing rebate/bonus/incentive which also came off the price of my vehicle, lowering my taxes, by adding that amount to my trade, lowering my purchase price which the taxes are based upon except in Montana, Alaska, New Hampshire, Delaware, and Oregon, where there is no sales tax. So all total I got another $500 off on top of the $1500 financing rebate. GM Financial loans are not technically tied to any rebates, bonus, incentive cash, or other such deals, and they normally do not have pre-payment penalties. They technically cannot do anything unless you signed an agreement outside of the GM Financial loan documents. My agreement is not in the loan documents, my dealer paid my finance charges which lowered my taxes so I would qualify for the $1500 financing incentive and they would get their $500 kickback for selling the loan. It was a win-win deal for both of us. I don't know how much the finance manager gets personally, but the dealership gets a total of $500 to distribute as they please I suppose. Probably nothing to the salesman since he is not in the room when the financing deal is done and gets his commission on the sale of the vehicle anyway. I also have FREE lifetime oil, filter, lube, and tire rotation/balancing deal that I have to go back to that same dealer to receive, so I don't want to screw them (or anyone else) out of $500 or any other amount of money and expect them to be happy about it. I don't operate that way anyway, they were very good to me, always have been, and they have a great reputation in the community. Model year and summer clearance deals are everywhere now and they will change rapidly from state to state and from dealer to dealer. I will not be following or replying to any further posts in this forum, as "How much did you pay" is no longer relevant to me in any way whatsoever as this topic has now officially been beaten to death. 

Good luck everyone and may you get the best deal possible for you.  Peace. 

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Posted (edited)

'19 6.2 SLT Premium Plus X31 Off Road package, sunroof and a few other options, sticker was $62,315, I paid $47,315 before TTL. No trade in.

Edited by 6dot2offroad
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2019 SLT plus with 6.2 from Howard Bentley GMC in Alabama in April , 47717 before taxes,tags,fees. # 2 internet dealer.

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I picked up my 19 SIlverado LTZ, Z71, Crew Cab a few weeks ago.  It was a dealer demo so that knocked off $1500.  GM had rebates going on for this month so that knocked off $8k.  My wife has a GM employee discount and that knocked off another almost $4k.  All that coupled with the trade in on my 2011 I ended up paying 50% off the MSRP of $52k.  I'm totally happy with that!

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6 hours ago, 6dot2offroad said:

'19 6.2 SLT Premium Plus X31 Off Road package, sunroof and a few other options, sticker was $62,315, I paid $47,315 before TTL. No trade in.

Dam

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