[QUOTE=" Parsons Kia only requirement is that you finance through them to get it at MSRP. .[/QUOTE]
if I may please use caution. I’ve walked out on a few of that scenarios deals although different vehicle.
the tactic as I’ve experienced. Involves dealer using interest rate higher than your bank will give.
one example. your bank will give 2.4% for 84 maths. Dealer requires financing with them. They will present you with a paper that they want to keep and it will have the figures, sometimes even with "forced add ones" but it will not give % in table only a payment and length terms. They are reluctant to share rate though may verbally say they are competitive and they guess it’s around.x. In this example when back calculated the loan they were charging 7 and 8 % . Remember you already had your bank with no strings at 2.4.
that’s a big difference. Want to piss them off even more ask them what their buy rate is. That is what what They pay for loan. Ex. your charged the 8%. But the rate of the loan is actually say 3 and the dealer gets the difference. In this case 5. They will generally just say their buy rate is based on your credit and no answer. Or just tell you they won’t give out buy rate.
some when pushed will say if want to use own bank add 1500 to price.
if your guy ties to use delay saying don’t know till gets there. Certainly can acknowledge understanding things change but would like estimates run now to help you etc. ask to assume credit 720 (or whatever you prefer) and give length. And see what they come back with. Then grab figures and go reverse calculate to find what they are charging . You can compare with your own bank, local credit union or maybe AAA who usually has good rates.
if I may please use caution. I’ve walked out on a few of that scenarios deals although different vehicle.
the tactic as I’ve experienced. Involves dealer using interest rate higher than your bank will give.
one example. your bank will give 2.4% for 84 maths. Dealer requires financing with them. They will present you with a paper that they want to keep and it will have the figures, sometimes even with "forced add ones" but it will not give % in table only a payment and length terms. They are reluctant to share rate though may verbally say they are competitive and they guess it’s around.x. In this example when back calculated the loan they were charging 7 and 8 % . Remember you already had your bank with no strings at 2.4.
that’s a big difference. Want to piss them off even more ask them what their buy rate is. That is what what They pay for loan. Ex. your charged the 8%. But the rate of the loan is actually say 3 and the dealer gets the difference. In this case 5. They will generally just say their buy rate is based on your credit and no answer. Or just tell you they won’t give out buy rate.
some when pushed will say if want to use own bank add 1500 to price.
if your guy ties to use delay saying don’t know till gets there. Certainly can acknowledge understanding things change but would like estimates run now to help you etc. ask to assume credit 720 (or whatever you prefer) and give length. And see what they come back with. Then grab figures and go reverse calculate to find what they are charging . You can compare with your own bank, local credit union or maybe AAA who usually has good rates.
