So, in another thread I was commenting that I hadn't seen GT with a Preferred Equipment Packages around town. The credit union I financed my Escape with sent me an email about their Spring car sales event, so I figured what the heck, fill it out. I put in the GT with PEP, and sure enough... a local dealer contacted me saying they have exactly that, in the SCR. It's not listed on their site for some reason.
Anyhow, had a few back and forth emails, including me saying I needed to wait until September for work bonuses. He persisted and asked what I want my payment to be. Now I know how that game goes - ask for a low one and sure enough they can meet that... with a super long loan timeframe. So, I got specific.
Told him $450/mo or less on a 63 month loan, that I had $1,500 - $2,000 cash down and a car for trade-in that's probably $3k - $3,500. He came back and said his manager would do $450/m for 63 months. And they can defer the first payment through September. That got my attention.
The only place I can think of where they have leeway in "making that happen" is the sales price (after whatever "deals" they have arranged in conjunction with the credit union) and how they value my trade-in. Anywhere else they might be able to manipulate the deal?
No obligations, but I said I'd come by after work Friday to see/try the car and take a look at the offer details. Independently I had gotten a pre-approval loan from the CU, for 2.24%, so at least I know what my rate would be.
Anyhow, had a few back and forth emails, including me saying I needed to wait until September for work bonuses. He persisted and asked what I want my payment to be. Now I know how that game goes - ask for a low one and sure enough they can meet that... with a super long loan timeframe. So, I got specific.
Told him $450/mo or less on a 63 month loan, that I had $1,500 - $2,000 cash down and a car for trade-in that's probably $3k - $3,500. He came back and said his manager would do $450/m for 63 months. And they can defer the first payment through September. That got my attention.
The only place I can think of where they have leeway in "making that happen" is the sales price (after whatever "deals" they have arranged in conjunction with the credit union) and how they value my trade-in. Anywhere else they might be able to manipulate the deal?
No obligations, but I said I'd come by after work Friday to see/try the car and take a look at the offer details. Independently I had gotten a pre-approval loan from the CU, for 2.24%, so at least I know what my rate would be.
But I'm sure if they got me a lower %, then the sales price may be higher... or trade-in lower. That part of it is a game, which is why I wanted to get them to 'commit' to a monthly payment amount for a specified term... in numbers I felt were good and fair, given what I've read things seem to be going for.
