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Do you think its weird....

Discussion in 'The Coffee Shop ~ Chit Chat' started by 07XCSB, Apr 10, 2012.

  1. 07XCSB

    07XCSB New Member 1000 Posts

    MoogVO,
    I don't play the dealer games. I've been in the car business in one form or another for 15 years. I know all the tricks, but the getting ripped off isn't the reason why I won't trade. Take my 99, when I bought my 06 crew cab Z71 the 99 Z71 had 406k miles. The best I could get was 2k. Forget that, its worth the 2k to keep the truck and use it to hunt out of.

    I know what ya mean on dealers getting ya good, my brother-in-law owes 87,000 on his 2012 2500HD. Talk about roll over debt. I don't buy a new vehicle until my other vehicle is payed off and I can pay half the price in cash.
  2. donyms

    donyms Active Member ROTM Winner 1000 Posts

    You may be weird but not for keeping your trucks. I can only afford to keep the one I have right now. I wish I could have a couple but it's just not in the cards right now. You do what you want and what makes you happy, that's all that matters. :glasses:
  3. 07XCSB

    07XCSB New Member 1000 Posts


    I have the room, LOL. I got 5 acres here and the 450 acre family farm to store stuff. The wife did put a 5 vehicle limit at the house, it gets hard to move with more than that here,
  4. moogvo

    moogvo Moderator 1000 Posts

    I have told customers this very line. In the end what happens is they will roll more money rolled into your loan. It's called "Negative Equity". The dealer will NOT give you book value, much less MORE than book value. They will SHOW you how they are giving you the money, but in the end, they will roll the negative equity into your loan.
  5. UpsetProps

    UpsetProps New Member

    I owed $17,300 on the truck....Blue Book was $12,500. They paid off my $17,300 loan to the bank, took the old truck and took $12,500 off the price of the new truck. Since they paid the whole loan the added $17,300 back onto the price of the new loan.

    Also, the interest on the $17,300 was 6.5%

    Interest on my new loan is 2.99% So really I am paying half as much interest on the remainder of the old loan than I would have.

    How did I not get Blue Book value?
  6. moogvo

    moogvo Moderator 1000 Posts

    I am not saying that you didn't get a good deal. You may have. What I am saying is that you never get the money for your trade in that you think you are getting.

    Here's the scam: There are all kinds of factory, government and financing company rebates and incentives that are offered to customers to increase sales. These incentives can run into the Thousands and even over Ten Thousand dollars. This isn't just "sometimes", but it is ALL the time... Listen to any car ad on the radio or watch them on TV. With any offer they make with regard to saving thousands, there is ALWAYS some verbiage that says "Dealer Retains All Rebates." (I work in advertising and media. I produce about 150 car dealer commercials a month.)

    The value of these incentives increases or decreases based on the volume of new car sales. These rebates and incentives are intended for the customer. Dealers, however, can retain those rebates if they get the customer to sign a form, agreeing to allow the dealer to keep those rebates. This is really easy to do, the form just gets buried in the middle of the novel you already have to sign in order to do the deal, at which time, you transferred ownership of these incentives to the dealer without ever knowing they were available in the first place.

    So, I am not telling you that they beat you out of your truck for free, but I can PROMISE you that they gave you no more than wholesale minus 10%. It is common every day practice. If you ASK for the rebates or incentives, they are supposed to tell you how they are being applied at the time of the sale. They will NEVER just say "HEY! There's $10,000 in rebates on that truck!" If you don't ask, it is assumed that you knew about them through national advertising and signed the paper surrendering them as part of the deal. Sneaky, but legal and most people never are any the wiser!

    At the end of the deal, only about 60% of the rebate money is applied to the deal. the rest is just cash in the dealer's account. People are much better off and come out miles ahead selling their vehicles outright and claiming all of the incentives instead of taking any other "advertised" or "verbal" deal.

    I am not flaming you or trying to beat you up over the sale, though, so please don't take offense.
    Last edited: Apr 10, 2012
  7. 07XCSB

    07XCSB New Member 1000 Posts


    Thats not a bad deal. You're saving 3.5% interest on the 4800.00 you rolled over into the new truck.
  8. UpsetProps

    UpsetProps New Member

    @moogvo I was not taking offense. This is the first brand new vehicle I have purchased, all others were used. I was just trying to clarify the numbers to myself mostly.

    I do think I got a good deal, and I suppose that is what matters.

    For clarification:

    New Truck MSRP $42,240 - $8,250 cash incentives, - $12,500 trade in value = $21,490 price of new truck + $17,300 loan payout = $38,790 total before tax and accessories.

    Like @07XCSB said I am also now paying 3.5% less interest on the $17,300 I rolled in. Also, sorry I hijacked your thread!
    Last edited: Apr 10, 2012

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