Koons Roll Call and updates 2022 orders

[Mechanick]

I just wanted to update you all on my pickup. I live in upstate NY so I flew into DC on Saturday morning to pickup my Jeep from Koons. I had my appointment scheduled for 1pm. I arrived at 12:30pm and I immediately saw my Jeep sitting out front. Hard to miss with that color. It was all detailed and ready to go. I did notice a scratch on my passenger rear fender flair. I went inside and let them know I was here and they said OK and had me sit in the waiting room. Nice area with tv's, cool coffee machine(makes all varieties of drinks), and lots of options for charging devices and phones while you wait. I hadn't seen Craig yet but another person let me know someone would be with me shortly. Close to 1pm I was introduced and taken into an office with Brian. Brian helped me get the Sirius/Guardian setup and everything put in my name for Jeep app. Brian was a great guy. Very friendly and knowledgeable. Craig popped in briefly and introduced himself. He was finishing with another customer so he was having Brian work with me. I was with Brian for about 45 minutes. They wrote me up a "Owe me" form for my fender flare and told me I could have a Jeep dealer in my area replace the flare and they would reimburse me for the cost up to $300. They said the flare price was $159 and then allow the rest for the install. I then was taken upstairs for the financing with Ralph. I had opted for the extra $1000 by financing through them. I will refinance after the 3 payments with my credit union for a better rate. They ended up using TD Bank North because the Chrysler person they use was backed up with 6 other customers and they didn't want to delay my purchase. They still gave me the $1000 discount. I will say the rate they offered sucked 5.49%, and I have a 840 credit score. Again I wasn't concerned since I will refinance it. Just made sense to take the extra $1000. They use this very cool electronic screen on their desk to review and sign all the paperwork. They also do not give you a paper copy. They give you all your copies of paper on a usb flashdrive they give to you. I much prefer that over the physical papers. I will say they definitely tried to sell me some options. First with Brian it was the ceramic coating and interior protection. Then all the extended warranties with Ralph. They tried a few times but I declined all and they stopped pushing it. I finished signing all the paper work and then went outside with Brian and Craig. They offered to go through a walk through of everything on the Jeep. I declined since this was my 7th wrangler. We were back on the road. The entire process took about 2.5 hours. I would recommend them to others. The communication through the process was great. Always received responses within 24 hours. The onsite went smoothly and no surprises with exception of the bank switch. The rate did not surprise me since another person on here already told me that is what they were coming back with and his credit was similar to mine. If anyone has any questions feel free to message me. Happy to answer.

Car and color looks awesome! Brian helped me as well and was great! Yeah the only thing is the financing so best if you can arrange in advance or refinance. Congrats on the car!

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[Nitehawk92]

I am doing the financing with them to save the extra $1000. I filled out their app yesterday. It immediately kicked back my credit score which was 840. Then the finance manager called me and confirmed a few other things. I asked him about rates and he said he couldn’t give them until they submit everything which would be on Saturday when I pickup. I told him I would prefer to do it ahead so I know my rate in case I preferred to use my own credit union. He reiterates that I could refinance after three payments. My credit union manager actually recommended doing it to take the extra $1000 and then refinance. I don’t like the idea of walking in there after flying from NY and doing financing that day. Feels awkward and gives them advantage. Ralph the finance manger assured me everything would be fine and no surprises. He said with my score the rate should be 4-5% which is of course higher then my credit union. Wondering if I should push Ralph to complete the financing now.

My Credit Union (Eglin Federal Credit Union) has a pre-approved loan. The pre-approved loan is an up to amount loan. You did not have to know the exact amount, as long as it was not over the "high" limit. You do not have to take it if the other rates are fine, but if you can take it with you it might give you some leverage and a backup. You can see if your Credit Union offers it...

 

[nyvisual]

Ordered on 12/28 and it was picked up 5/21. Smooth process of ordering through delivery. The worst part was the 5+ month wait, but I expected that

 

[Mechanick]

Ordered on 12/28 and it was picked up 5/21. Smooth process of ordering through delivery. The worst part was the 5+ month wait, but I expected that

I have the exact same car! I ordered in November tho!

 

[dahacker]

I had opted for the extra $1000 by financing through them. I will refinance after the 3 payments with my credit union for a better rate. They ended up using TD Bank North because the Chrysler person they use was backed up with 6 other customers and they didn't want to delay my purchase. They still gave me the $1000 discount. I will say the rate they offered sucked 5.49%, and I have a 840 credit score. Again I wasn't concerned since I will refinance it. Just made sense to take the extra $1000.

I don't know how much you financed, but $50,000 at 5.49% for three months is ~$686.25 in interest. Best refinance that loan now before waiting for the "suggested" three months.

 

[Mechanick]

I don't know how much you financed, but $50,000 at 5.49% for three months is ~$686.25 in interest. Best refinance that loan now before waiting for the "suggested" three months.

Agreed! I refinanced 2 days later!

 

[NYJeepGirl74]

I don't know how much you financed, but $50,000 at 5.49% for three months is ~$686.25 in interest. Best refinance that loan now before waiting for the "suggested" three months.

Yeah - I did think about that - I did not finance that much so mine over three months is about $250 interest total - with my credit union it would be about $100 over the three months. So I am still in the plus by about $850

 

[dahacker]

I see a troubling amount of people on these forums putting a large down payment on their Wranglers. While this might seem like it would cost less in the long run, it will not. The US Treasury Series I savings bonds return rate is 9.62%. With Credit Union auto loan rates in the 2.X% range, that is free money with our climbing inflation and any money you saved for a down payment could go in Series I savings bonds.

 

[ghstlogic]

My order is getting closer! Any recommendations out there for financing? I was thinking about going with USAA but haven't done too much research yet. I may go through Chrysler initially for the $1000 incentive and switch after 3 payments. Thoughts?

 

[demarpaint]

Agreed! I refinanced 2 days later!

The reason they want you to keep the loan for three months is because they [the dealership] lose their financial reserve money if the loan is paid off before that. Back in the day when I sold cars that was the reason, and the salesman for F&I manger got charged back as a result. That was our policy.

 

[ogo]

My order is getting closer! Any recommendations out there for financing? I was thinking about going with USAA but haven't done too much research yet. I may go through Chrysler initially for the $1000 incentive and switch after 3 payments. Thoughts?

I bank with USAA myself and am opting to use them for financing. I'll be leaving the $1000 incentive on the table for not financing through Koons, but the math works better to take the 2.79% rate over whatever I'd get with the dealer.

 

[Mechanick]

The reason they want you to keep the loan for three months is because they [the dealership] lose their financial reserve money if the loan is paid off before that. Back in the day when I sold cars that was the reason, and the salesman for F&I manger got charged back as a result. That was our policy.

I did not get the 1000 credit as i ordered the 392 which didn't qualify so they picked a random bank which had the "best rate" and i refinanced 2 days later which i told them i would do.

 

[Billet Wilson]

I did not get the 1000 credit as i ordered the 392 which didn't qualify so they picked a random bank which had the "best rate" and i refinanced 2 days later which i told them i would do.

I was told the 8K below MSRP on the 392 was not contingent on financing through Koons.

 

[Mechanick]

I was told the 8K below MSRP on the 392 was not contingent on financing through Koons.

Yeah that is correct. I just did not have the exact out the door number as i had a trade so financed through them then refinanced immediately.

 

[demarpaint]

I did not get the 1000 credit as i ordered the 392 which didn't qualify so they picked a random bank which had the "best rate" and i refinanced 2 days later which i told them i would do.

Interesting, the banks we used would take the reserve money back, but that was 20+ years ago. Friends in the business said it hasn't changed much, with the exception of the salesman getting hosed even more now.

If I were to get a good enough deal I would keep the loan for the three months and then pay it off.

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