Cant get below invoice pricing with PedFed financing?

[Tug]

Hi all,

I've received a quote and build sheet for a new JLU. I'm being told that I cannot get below invoice pricing while using "non conventional" pricing such as Pen fed.

Can anyone confirm this?

Thanks

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[guarnibl]

Typically it's a reduction of 1-2% from your deal (i.e., add that back in) if you don't finance using them. Given AR is also gone, that would bring the 6-7% deals down to 2-3% under invoice.

 

[rcadden]

Find a new dealer to order through.

Here's a thread where folks are tracking dealers who are confirmed to be offering invoice or below on '22 JLUs:

https://www.jlwranglerforums.com/forum/threads/dealers-below-invoice-on-2022-wranglers.80479/unread

 

[GATORB8]

If it's that true-car crap, it's not usually an actual rebate.

It looks like Pen-Fed has a jeep rebate (bonus cash) deal, but the Wrangler isn't listed:

 

[Tug]

Thank you! - Welp that was easy. Moving on to another dealer.

Thanks!

 

[John VonJeep]

When I got my quote from Gupton, it included a few different prices. One was if I used their financing. Another was if I used my own.

I always get my own financing before I arrive, then give the dealer a chance to beat it. Sometimes they do, sometimes they don’t. The price difference with Gupton was $500 IIRC.

 

[Tug]

When I got my quote from Gupton, it included a few different prices. One was if I used their financing. Another was if I used my own.

I always get my own financing before I arrive, then give the dealer a chance to beat it. Sometimes they do, sometimes they don’t. The price difference with Gupton was $500 IIRC.

Hey John,

Thanks - who was your contact at Gupton? I keep hearing good things about them I figure I'll reach out.

 

[John VonJeep]

Hey John,

Thanks - who was your contact at Gupton? I keep hearing good things about them I figure I'll reach out.

[email protected]

 

[Chocolate Thunder]

1) Get the lowest price by using their financing source.
2) Drive your new Jeep home.
3) Immediately refinance with the lending source of your choice.
4) Profit!

 

[The Last Cowboy]

1) Get the lowest price by using their financing source.
2) Drive your new Jeep home.
3) Immediately refinance with the lending source of your choice.
4) Profit!

Exactly what I was going to say.

I'll add, don't worry about them getting you 5 or 6 percent. Just get the very best deal, then refinance it at Pen Fed for 1.9%, or whatever it is today. My credit Union, RBFCU, is at 1.95% out to 66 months as of today.

 

[LooselyHeldPlans]

I negotiated outside pen feds service and then took the loan from PenFed. I saved a ton. If you don’t want the hassle, just pay more.

 

[LooselyHeldPlans]

1) Get the lowest price by using their financing source.
2) Drive your new Jeep home.
3) Immediately refinance with the lending source of your choice.
4) Profit!

Make sure there’s not an early payment penalty. Also, make sure your “new car” rate is actually applicable to a car that’s rolled off the lot.

If you’re good in both fronts, this is a great way to get a good deal.

I did this once when when I needed a van from a “buy here, pay here” place. Felt good to flip the script on the crooks. ?

 

[areuriding]

I'm in the same boat, gonna take the dealer finance and once I pick up the Jeep I'll refi as soon as possible if I get a lower rate. Most times dealer matched my Penfed rate or did better.

 

[Schuter]

Hi all,

I've received a quote and build sheet for a new JLU. I'm being told that I cannot get below invoice pricing while using "non conventional" pricing such as Pen fed.

Can anyone confirm this?

Thanks

Contact Adam Silver at [email protected] (Raynham, MA). He will give you a great deal and doesn't care where you finance.

FYI - I did not receive a very good rate from Penfed on my recent Jeep purchase. They typically beat USAA but not this time. Strange.

 

[ECP]

1) Get the lowest price by using their financing source.
2) Drive your new Jeep home.
3) Immediately refinance with the lending source of your choice.
4) Profit!

PLEASE NO! Don't do this!

The reason you get a discount for using their financing source, is (obviously) the finance company makes money and shares it with the dealer. Two things are going to happen when you do this (one in the future).

The first, is the dealer is counting on the rebate from the finance company to offer you the lower price. If you pay off the loan before a certain amount of time (usually 90 days) the dealer will not get this incentive. Great. That dealer that worked so hard for you now lost $$$. Do you really want to punish your dealer? (rhetorical...)

The second is that if people keep doing this, finance companies will stop offering the rebates and the dealers won't be able to offer the discounts - Affiliate Pricing anyone?? Gone right?

So yes, you can do this and the money you "saved" by refinancing really cost the dealer money. The same dealer willing to give you the great price below invoice because they were counting on the rebate.

Don't bite the hand that feeds you as they say. Otherwise start kissing the 7-8% under invoice goodbye.

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