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

[phatjoe]

I had a similar issue at a BMW dealership many moons ago. Sales guy and I agreed on a price, next up financing. For 15 minutes he tried to sell me a variety of packages. I ended up walking out.

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[Formattc]

I work in auto finance, but on the, uh.......back end. Banks can not refuse early payment of a loan. They don't like it, but they also can't refuse it.

 

[Mmfrmaz]

My recent experience:

Bought JLU from dealer in AZ in May of 2019
Financed through dealer
As he was going over the details, I asked about prepayment - he said "no you need to keep it at least 6 months".
I thought that sucks, but I want the Jeep now, and I can manage the payments.
My plan was to finance and then pay big chunk of cash, and then refi.
I get my first loan documents in the mail a few days later - It said "There is no penalty for early payoff"
So paid it down with one payment and refinanced at a much lower rate and monthly payment.

 

[Nickmimi]

I bought from Peterson, used their financing. I refinanced the vehicle as soon as I received the account number. Did not make a single payment to their bank. For my deal it was not Chrysler financing but Ally bank that they used.

 

[ulbsti25]

Anyone in Illinois should consider Jason Beltran at Tyson Motors. They do huge volume. No one in the tri-state area would beat their deal. I buy a lot of cars. I have only run into a few dealers and sales people that are totally honest and transparent. They are far and few in-between. Tyson and Jason are one of those dealers. I can't recommend Jason enough. Truly a NO BS straight shooter. I emailed him my build and he got back to me in a few hours with his rock bottom price out the door. I called him with a $100 deposit and he placed my order. 14 days later my JLR was at the dealership ready for delivery. I was in and out after about 1.5 hours. A hour was spent waiting for the business manager to free up after doing someone else's deal. I ended up paying exactly what Jason said I would pay. It was as easy as ordering a pizza.

What % under invoice did you end up paying? I'm in Chicago, and I've been looking at 2018/2019MY and have called probably 10 different dealerships and the best I've seen is 15% off MSRP for a 2018. All the 2019's on the lots don't have the packages I'm looking for, and the ones that do the dealerships best price is 8% off MSRP, or right around invoice.

At that price point, I'd rather just build one but still don't understand how people get 6% under invoice, the best I've been offered is 1% under invoice. Is the only way to achieve that with TL?

Seen some good deals being had on this forum, but just don't understand it.

 

[SecondTJ]

What % under invoice did you end up paying? I'm in Chicago, and I've been looking at 2018/2019MY and have called probably 10 different dealerships and the best I've seen is 15% off MSRP for a 2018. All the 2019's on the lots don't have the packages I'm looking for, and the ones that do the dealerships best price is 8% off MSRP, or right around invoice.

At that price point, I'd rather just build one but still don't understand how people get 6% under invoice, the best I've been offered is 1% under invoice. Is the only way to achieve that with TL?

Seen some good deals being had on this forum, but just don't understand it.

I’m also in the Chicago area, they just don’t deal low enough around here.

I ended up purchasing exactly what I wanted from Boston at ~14.5% off MSRP, which worked out to about 10% below invoice

 

[commbubba19]

no bank or credit union can refuse early payoff of a loan/lien. it is against the law.

they ‘say’ you have to keep it for 6 months but you will never see that written anywhere in the loan contract. the dealer and bank just hope you take their word for it.

and yes banks have agreements with dealers and give bonus kickbacks for more and more loans serviced each month through said bank.

 

[GeneralKlinger]

Discouraging to read this because I've been working with Kent for months now waiting for the 2020's to come out. I have to fly and drive back 6hrs, so I don't think it's gonna be worth the risk of any BS games if I am stuck there with my 10yr old and "forced" to buy so I can get back home.

I have no intentions of using their financing, I have USAA.

 

[keithd60]

My recent experience:

Bought JLU from dealer in AZ in May of 2019
Financed through dealer
As he was going over the details, I asked about prepayment - he said "no you need to keep it at least 6 months".
I thought that sucks, but I want the Jeep now, and I can manage the payments.
My plan was to finance and then pay big chunk of cash, and then refi.
I get my first loan documents in the mail a few days later - It said "There is no penalty for early payoff"
So paid it down with one payment and refinanced at a much lower rate and monthly payment.

If you don't mind, I am in Phoenix and about to order out of state. What dealer did you buy from and did you get a decent discount?

 

[Mmfrmaz]

I bought from Chapman Jeep in Scottsdale

 

[Mmfrmaz]

Also watch for dealer add-ons to the sticker price.
Nitrogen filled tires - $400 really
Kahu GPS -$700

 

[_olllllllo_]

Discouraging to read this because I've been working with Kent for months now waiting for the 2020's to come out. I have to fly and drive back 6hrs, so I don't think it's gonna be worth the risk of any BS games if I am stuck there with my 10yr old and "forced" to buy so I can get back home.

I have no intentions of using their financing, I have USAA.

I went through Peterson to get my 2019 JLUR. I worked with Kent and he is a very nice guy. He picked us up from our hotel in Boise. We went over the Jeep and I went out to look at it and they were finishing up PermaPlate on the windshield. I looked it up and it is a money maker for the dealer. I was ready for a battle in finance, but to my surprise there was none of that. I had all the paperwork and I checked the numbers and all was what was promised. The finance guy Ryan said I bet you don’t want PermaPlate or an extended warranty and I didn’t and that was it on the subject. Without a doubt the easiest vehicle buying experience ever. We had a 1200 mile trip back and stopped by Area 51 and took the girls to Vegas. I will refinance after 6 months as the amount I saved against my local dealer was $8200 and I am still coming out way ahead.

 

[Dkretden]

Also watch for dealer add-ons to the sticker price.
Nitrogen filled tires - $400 really
Kahu GPS -$700

If I see this at a dealership I:
Turn around and walk away.

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