Ordered my 4xe today - Breakdown and prices

tcinlex

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I will lose $1000 if I don't finance with Chrysler, but Pentagon Federal Credit Union is also offering a $1000 rebate on Jeeps. the interest rates are 2.89% (Penfed) and 2.99 (Chrysler) so I will just go with Chrysler for simplicity.
So is Crysler not offering the 0% for 36 months on the 4XE or did you go with a longer duration loan and that is why is it 2.99%
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robynE

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Did you go through Mike using the contact info from the forum? If you contact any dealer directly, be it Suresky or Criswell or Koons, they will give you standard walk-in-the-door pricing.
You're not looking to buy from allocation. You are looking to factory order. These are 2 different things. It is true that at this point AR will not apply, but if the middle Atlantic dealers are going to 5% below invoice, then I would think Suresky would. You could also try Fitzpatrick in CT, but you would lose the NYS tax incentive.
The state tax rebate for Maryland applies to where you live and not where you buy the vehicle. So, I'm buying from Virginia but I live in Maryland and I'm eligible for a $3000 state tax credit (if the program gets refunded for the next fiscal year)
 

Jehovasfitness

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The state tax rebate for Maryland applies to where you live and not where you buy the vehicle. So, I'm buying from Virginia but I live in Maryland and I'm eligible for a $3000 state tax credit (if the program gets refunded for the next fiscal year)
was it ever renewed in 2020 let alone 2021? Every time I've checked maybe back to 2018 it was no longer available in MD
 

robynE

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So is Crysler not offering the 0% for 36 months on the 4XE or did you go with a longer duration loan and that is why is it 2.99%
I think in order to get the $1000 incentive you have to finance for 60 months. I need to research this further as I haven't really decided for sure where I'm financing, but I will most likely go with the 2.99% $1000 rebate with Chrysler.
 

Jehovasfitness

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I think in order to get the $1000 incentive you have to finance for 60 months. I need to research this further as I haven't really decided for sure where I'm financing, but I will most likely go with the 2.99% $1000 rebate with Chrysler.
not running the #s I'd think you'd pay less in the end getting the 0%
 

robynE

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was it ever renewed in 2020 let alone 2021? Every time I've checked maybe back to 2018 it was no longer available in MD
I just looked last night and it was funded through June 30, 2020, but there could be other stipulations that I missed, it was like 2am when I was reading it. It said any applications after that date would be held and honored if the next fiscal year funding became available. I'm already starting to cross this off my hopeful list. At least it looks like we still get the $7500 fed credit though at least.
 

robynE

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not running the #s I'd think you'd pay less in the end getting the 0%
I bet you would too for sure, but what a whopper of a payment thats going to be. Even at 60 months, 2.99% the payment is $999 on $51k.
 

sk00pie

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Did you go through Mike using the contact info from the forum? If you contact any dealer directly, be it Suresky or Criswell or Koons, they will give you standard walk-in-the-door pricing.
You're not looking to buy from allocation. You are looking to factory order. These are 2 different things. It is true that at this point AR will not apply, but if the middle Atlantic dealers are going to 5% below invoice, then I would think Suresky would. You could also try Fitzpatrick in CT, but you would lose the NYS tax incentive.
Went through Alex. Also agree, I was able to get deals elsewhere.
 
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Asterix2112

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Yeah, let's say $40,000 loan (probably around what most of our actual loans will be after trade-in/downpayment) 2.99% for 5 years, you will pay $3,114 in interest. So if you can get 0% loan that is a real difference. (for example compared to a 2.5% loan, $2593 in Interest, the 2.99% would be cheaper with the $1000 rebate)

Like I said you can always refinance the loan. Another option is you can always take out a loan against your 401K (TSP in my case) and pay off the Jeep loan instantly, as even though those loans do charge interest, you're paying the interest to yourself - so they are essentially 0% interest! (of course you lose the investing power of that money while you have the money out, which is bad if the market goes up, but good if the market goes down). I have done that before and might do that in this case depending on what the interest rate they actually give me is.
 

Jehovasfitness

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Yeah, let's say $40,000 loan (probably around what most of our actual loans will be after trade-in/downpayment) 2.99% for 5 years, you will pay $3,114 in interest. So if you can get 0% loan that is a real difference. (for example compared to a 2.5% loan, $2593 in Interest, the 2.99% would be cheaper with the $1000 rebate)

Like I said you can always refinance the loan. Another option is you can always take out a loan against your 401K (TSP in my case) and pay off the Jeep loan instantly, as even though those loans do charge interest, you're paying the interest to yourself - so they are essentially 0% interest! (of course you lose the investing power of that money while you have the money out, which is bad if the market goes up, but good if the market goes down). I have done that before and might do that in this case depending on what the interest rate they actually give me is.
taking a loan from your 401k is a terrible idea for a car. We had to do it for a house and even then not ideal, but we paid it back in 2 months when we sold our first house.

our current jeep should be worth 39k trade so the 0% and 36 months for me would be ideal, still would pay off w/in a few months but just to get the $1k knocked off via chrysler financing
 
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Asterix2112

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taking a loan from your 401k is a terrible idea for a car. We had to do it for a house and even then not ideal, but we paid it back in 2 months when we sold our first house.
People always say that taking a loan from your 401(k) is a terrible idea, but it's no more bad or good than anything else. It's a loan that is at 0% interest (since your paying yourself your interest). What you lose is the investing power of that money while you have the money out. So, if let's just say that on average your investments go up 5% a year and you can get a regular loan at 3%, then using your 401(k) would be a bad idea. Of course depending on how your invested, those investments can go up a lot (certainly the stock market the last few years has done great) but if the market goes down it's actually good for you to have that money out. Now let's say somebody has $10,000 of credit card debt at 18% interest. Would it be better for them to take out a loan against their 401(k) (and pay off the credit card)? Almost certainly. Unless you can guarantee that your investments are going to up over 18% year (which if you can do that...) it would be far better to pay off that credit card debt with a loan from your 401(k). People in the US are so bad at saving in general that so many so-called 'experts' just give this blanket recommendation that you should never touch your 401(k). But in reality, like anything, there are pluses and minuses for doing it and depending on the situation it might make perfectly good sense.
 

robynE

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Asterix, I'm federal too and it sounds like you have a grasp on the pros and cons of taking out a TSP loan. You're likely earning a MINIMUM of 3% on TSP. True the interest paid on the TSP loan is paid back to yourself, but (as you stated) you lose any gain that money would have gotten while the money is out on a loan.

One thing to consider though is if you did have some sort of financial/health emergency and needed a loan from your TSP, you would have to pay back the current loan you have out, wait 60 days, and then any new loan you applied for would be limited to the difference between the original loan amount and $50,000 in a 365 day period. The IRS puts strict limits on TSP loans.
 
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Asterix2112

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Robyn - All very valid points. I'm just saying it's a valid option that should not be just discounted on the face of it, but something that is a possibility when weighing the pros and cons. You make a good point, if you have an emergency and your 401(k) is your only savings then you have a problem. But if you have $100K in an easy to liquidate post-tax investment account, that that would not be an issue. And yes there's a little bit of a gamble with it. My cousin used his 401(k) to take out a loan for a major house renovation, something many people say is a terrible thing to do, but he took it out literally a few weeks before the whole .com bubble burst, and in reality he ended up saving himself thousands of dollars!

(of course lately my TSP has earned a ton and gone through the roof... But there's no guarantee that things won't come crashing down again any time...)
 

Jehovasfitness

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Robyn - All very valid points. I'm just saying it's a valid option that should not be just discounted on the face of it, but something that is a possibility when weighing the pros and cons. You make a good point, if you have an emergency and your 401(k) is your only savings then you have a problem. But if you have $100K in an easy to liquidate post-tax investment account, that that would not be an issue. And yes there's a little bit of a gamble with it. My cousin used his 401(k) to take out a loan for a major house renovation, something many people say is a terrible thing to do, but he took it out literally a few weeks before the whole .com bubble burst, and in reality he ended up saving himself thousands of dollars!

(of course lately my TSP has earned a ton and gone through the roof... But there's no guarantee that things won't come crashing down again any time...)
100k in taxable would incur hefty tax implications
 
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