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FAIR DEAL UNTIL................

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WE GET TO FINANCING.

New to the forum. Never owned a Jeep before, so my learning curve here has been steep. Thanks to all of you who have the knowledge and take the time to post very useful threads for "noobs" like myself.

I'm real close to purchasing a new Rubicon 2 -door, but so far have been disappointed with the truthfulness of local dealers; especially their websites. Even more disappointing is that some of the dealers (Idaho) have been praised by forum members who have traveled across country to get below invoice pricing. That has not been my experience so for. This was my experience this weekend.

I go to Peterson Jeep in Nampa Idaho. After all, there are some very positive reviews about them here. They have a Rubicon which is advertised @ is $42,210 ("Sale Price"); the MSRP is $49,010. That's approximately 13.8% below MSRP, or 8% below invoice. Seems like a good deal. I'm ready to buy; seems like a fair deal and inline with what others have posted. Not so fast. Finance guy comes out and says "well in order to get that price, you have to let me get the financing." His financing rate is over 10% (I'm assuming through Chrysler). You gotta be kidding me.........no way am I doing that. He won't even allow me to put any money down; he absolutely refuses to sell me the Jeep at the "Sale Price" even if I pay cash! If I want to do that, then he's going to raise the price $2,500. That would make the Jeep over invoice price. I also qualify for the Military Rebate (retired), but he says that's included in the "Sale Price" which it clearly states on their website is not the case; there is a "As Low As" sale price which takes into consideration manufacturer rebates. I would think that IF in order to get the "Sale Price" you have to finance through their lender, that should be clearly stated in the Ad on the website...........right? Which it's not, because that clearly changes everything.

Also, when you do finance through them, you agree to make at least 6 payments. At 10+% that equates to $409/month in interest. Interestingly, that is about $2500 in finance charges (over 6 months), so I suppose that's where they justify raising the price $2,500 if you put any money down. Crazy, I've never heard of a dealer NOT wanting you (or requiring) to put money down. Here's the ad:

Jeep Wrangler JL FAIR DEAL UNTIL................ Screen Shot 2019-05-27 at 7.38.56 PM


I've read posts by others who have a positive experience with Peterson. I'm just curious if they told the entire story.................like financing for example. I'm not sure which is more disappointing, their misleading advertising, or the fact that they think I'm so stupid to go for such a bad deal.

Great first post, huh? Thanks for allowing me to vent and to you guys who are willing to pass along your knowledge.
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TJ2018

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Well that sucks. Sale price does not show as contingent upon dealer financing. Nicely appointed JLR though. Have you spoken to their sales mgr or general mgr? Sometimes they care more about the dealers rep than the finance guy.

Good luck!
 
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Well that sucks. Sale price does not show as contingent upon dealer financing. Nicely appointed JLR though. Have you spoken to their sales mgr or general mgr? Sometimes they care more about the dealers rep than the finance guy.

Good luck!
No, not yet. I intend to though. Thanks.
 

JP18

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Also, when you do finance through them, you agree to make at least 6 payments. At 10+% that equates to $409/month in interest. Interestingly, that is about $2500 in finance charges (over 6 months), so I suppose that's where they justify raising the price $2,500 if you put any money down. Crazy, I've never heard of a dealer NOT wanting you (or requiring) to put money down. Here's the ad:
It's all a numbers' game. Yes, the way this particular dealer does it is lousy.

FYI, if you finance at 10% (which is NOT a good deal obviously), with at least 6 months of payments, that equals $39,210 * 10% = $3,921 per year, therefore $326.75 per month in interest (this is simplified). 6 months at $326.75 = $1,960.50 of interest paid.

If you don't like the numbers, I suggest you shop at a better dealer, and do a full numbers comparison.

JP18
 

Chocolate Thunder

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Take the Jeep at that price with their crappy financing. Go straight home and refinance with the lender of your choice or pay it in full if that’s what you want to do. Two can play that game.
 

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I have a 2019 JLUR on order through them. The price difference between my local dealers and them is sizeable. I will be watching this thread for the ultimate outcome. The sales person has been great and I have the quote and signatures the order is based on. If the finance guy tries this I will use my bank to get financing even if I have to pay more. I am flying up with my wife and we will be driving back so I am hoping the finance person doesn’t sour the experience.
 
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It's all a numbers' game. Yes, the way this particular dealer does it is lousy.

FYI, if you finance at 10% (which is NOT a good deal obviously), with at least 6 months of payments, that equals $39,210 * 10% = $3,921 per year, therefore $326.75 per month in interest (this is simplified). 6 months at $326.75 = $1,960.50 of interest paid.

If you don't like the numbers, I suggest you shop at a better dealer, and do a full numbers comparison.

JP18
Thanks JP. I used $42,210 for the finance rate, because that's what they were willing to sell the Jeep for. Forget $39,210; that's never happening. Very few people can get ALL of the manufacturer rebates. I could only get the Mil rebate, and even then they said it was part of the "Sale Price", which they clearly applied incorrectly (according to their own Ad).
 

viper88

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There are mixed reviews about the dealer you are shopping. Some buyers were OK knowing they would play the financing game to get a deal. Or their deals, even though they got screwed, were still better then deals from other dealers. If they are willing to screw you in the beginning, they will screw you in the end for service or something else. In your case they basically are doing bait and switch. A dealer who is deceptive does not deserve anyone's business. Go to another dealer who is more transparent and order exactly what you want.

Tread lightly is 1%-under invoice to you and another 1% for the dealer. 2% total under invoice. You should get 6%-under invoice with a affiliate like Tread Lightly. You should qualify for the $500 military incentive also which is about another 1% on a $50K vehicle. In theory you should get about 7%-under invoice + a fair doc, TTL for a straight cash deal. Get your financing squared up before hand if you plan on financing.

Thank you for your service.

Good luck.
 
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viper88

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I have a 2019 JLUR on order through them. The price difference between my local dealers and them is sizeable. I will be watching this thread for the ultimate outcome. The sales person has been great and I have the quote and signatures the order is based on. If the finance guy tries this I will use my bank to get financing even if I have to pay more. I am flying up with my wife and we will be driving back so I am hoping the finance person doesn’t sour the experience.
A couple of one-way plane tickets can easily be 1%-2% of your cost. Don't risk it. No need to deal with it when you get there. Email and get their response in writing before you buy tickets and fly.
 

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I have a 2019 JLUR on order through them. The price difference between my local dealers and them is sizeable. I will be watching this thread for the ultimate outcome. The sales person has been great and I have the quote and signatures the order is based on. If the finance guy tries this I will use my bank to get financing even if I have to pay more. I am flying up with my wife and we will be driving back so I am hoping the finance person doesn’t sour the experience.
Good luck to you. That's what I told them as well, "I will use my own bank." USAA; 3.04%. They said, "No way." If you do, then we are raising the price of the Jeep $2,500. I suppose they get kick backs for obtaining financing through Chrysler (????), which allows them to sell the Jeep at a discounted price. Also, I couldn't put ANY money down. The point is: they refused to honor their "Sale Price" unless I got financing through them...........at a high interest rate, AND make at least 6 payments. Make sure you get this clarified before you spend your time and money coming here. I truly hope it works out for you and your wife.
 

bunky23

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Hi, new here as well but lurking a long time.

I'm looking at ordering a 2019 or 2020 Rubicon unlimited. I also have a buddy here in Phoenix who also wants to order one. Petersons is one of the dealers I am getting pricing with. I've not been able to get better than 3% below invoice from local dealers and Kent at Peterson's quoted me slightly better than 8% below.

But I've kind of read here on the forum that he requires you to use their financing to recover some of the costs. So I've been exchanging emails with him trying to find out what those rates will be. I haven't decided whether I want to buy or lease, but so far all he can tell me is that the rates fluctuate greatly but that they work with multiple lenders and try to offer the best rate.

I told him I need to have a better idea on those rates before I commit. I'm used to leasing BMW's where you can lock in the rate for up to 3 months.

Anyway, I know there are a lot of people on this forum who have ordered from Kent and had a great experience. I'm just curious how they handle this financing question, especially on a new order when delivery could be several months away? I personally need to know what the details are before I go into a deal.

Thoughts?
 

viper88

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Good luck to you. That's what I told them as well, "I will use my own bank." USAA; 3.04%. They said, "No way." If you do, then we are raising the price of the Jeep $2,500. I suppose they get kick backs for obtaining financing through Chrysler (????), which allows them to sell the Jeep at a discounted price. Also, I couldn't put ANY money down. The point is: they refused to honor their "Sale Price" unless I got financing through them...........at a high interest rate, AND make at least 6 payments. Make sure you get this clarified before you spend your time and money coming here. I truly hope it works out for you and your wife.
Don't give them anymore of your time, walk.
 
OP
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Hi, new here as well but lurking a long time.

I'm looking at ordering a 2019 or 2020 Rubicon unlimited. I also have a buddy here in Phoenix who also wants to order one. Petersons is one of the dealers I am getting pricing with. I've not been able to get better than 3% below invoice from local dealers and Kent at Peterson's quoted me slightly better than 8% below.

But I've kind of read here on the forum that he requires you to use their financing to recover some of the costs. So I've been exchanging emails with him trying to find out what those rates will be. I haven't decided whether I want to buy or lease, but so far all he can tell me is that the rates fluctuate greatly but that they work with multiple lenders and try to offer the best rate.

I told him I need to have a better idea on those rates before I commit. I'm used to leasing BMW's where you can lock in the rate for up to 3 months.

Anyway, I know there are a lot of people on this forum who have ordered from Kent and had a great experience. I'm just curious how they handle this financing question, especially on a new order when delivery could be several months away? I personally need to know what the details are before I go into a deal.

Thoughts?
Bunky,
Because of the reviews on this forum is one of the reasons I went to Peterson (plus they are about 10 minutes from my house), but was so disappointed when they started the finance game. They advertise the Jeep at a certain price; I'm good with that, and ready to buy at that price, but then they don't apply the rebate correctly (even if it is a small amount), and tell me I have get financing through them to get that price. I was ready to pay cash as well, and they told me that price doesn't apply for a cash purchase..........they have to jack up the price $2,500 WHAT? Very deceptive.
 
 







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