rogan01

Thanks mcate and baddog. Front runner car is automatic (almost all left around here are auto (silver or red) but it is what I am looking for as I have developed hip pain - why I traded in my 2011 Sterling Gray GT Premium manual with brembos and 3.73 gears for my current auto vehicle). Drove the car and was impressed with this automatic. Only other options are 19" wheels (995) and rear sensing/Security pkg (995). MSRP is 37400. Internet price posted is 30900. I offered 29900. They said for that price I woud have to finance with FMC at 5.99. At 30900 I can get my own financing at 2.99 (talking 72 months) - have excellent credit.

I think it is a fair offer considering the car is still obviously on the lot for some reason (auto and color) but I am ok with those - will add stripes and be good. The Sales Manager refuses to budge as of today and has been a real tool. The salesman is fine and I can tell he is trying. I would actually go to 30350 with 2.99 financing and is what I am considering offering tomorrow as a final offer. They also have a completed FMC application from me. Not sure the x-plan would help me here since it takes a while to get thru MCA and you need to say you are using it up front from what I have found.

Any thoughts? Also their offer on my trade is OK too so we are actually very close. Not much els around. Thanks again for all your help. Has made this much better.

mcate

I crunched the #'s on a loan calculator. Not figuring any trade or fees, $30,900 @ 2.99% gives a payment around $95 less than $29,900 @ 5.99%. I'd definitely pay the extra $1000 for the better rate. It'll even out in 11 months or so. Sounds like a decent deal to me. Don't let them talk you into any paint protection, or other high markup add-ons.

rogan01

Thank you sir. I actually have a spreadsheet I created from an actual buyers/purchase order from my 2011 Mustang. I plug in the number and can see the bottom line amount due after trade, equity, taxes, fees, etc. Then I go to bankrate auto loan calculator and plug in the amount, term, and rate. Definitely better off with the 2.99%. They did say that, with excellent credit, they "may" be able to get that 5.99 down (but won't commit or say how much) I have run the numbers at 3.99 and 4.99 and only 3.99 comes close. We would only be about $550 away on the deal with 30350 I am considering offering but the SM has just not been budging... I am going to email my final offer today and see what happens.

Cardstang

A lot of times the rebates are tied to going through FMC for financing. I had an extra $1000 rebate for using them when I bought my '10. What I did was I took the extra rebate and financed through Ford at some ridiculous interest rate. After 90 days, I refinanced with my local credit union for a far lower rate. Ended up knocking some $$ off the monthly payment AND 12 months off the life of the loan. Of course, because the refi started the clock again, it ends up being 63 months of payments. But verify with FMC that you can do this. I had to wait 90 days or else be charged a penalty.

My local credit union has 1.99% financing for 60 months. I'd think there are several offering similar rates. You said you can get 2.99% and that's very good too.

If you end up taking the FMC financing for three months @ 5.99% and then refinance @ 2.99%, it'll cost you $41 per month more until you refi (I used $30K for my calculations). You'll knock the principle down a bit and refi smaller amount. You'll probably get to skip a month or two of payments...pay down on principle with that and you'll come out way ahead.

My dad did the same thing when he bought he Expedition several years ago. He payed on it for 90 days and then paid it off.

I checked the incentives in my zip code...looks like the rebate on the '12s went up by $500 to $3500 (I think they were at $3000).

rogan01

Cardstang - you are 100% correct. Another dealer I am working with told me about this but the primary one now did not. Called my credit union and they said they could do it. Thanks! Good info to share if others may not be aware...

pinn

Another buying trick is to be approved for a great rate before going to the dealer. Every time I do this, the dealer somehow finds a way to get me an even better rate to keep the loan business also.

rogan01

Just emailed them the offer above - 30350+599 dealer fee (they were asking 799) and $3000 cash down. Internet Manager got back and said he would "see what they could do" Also asked me if I have "any leased vehicles in the house". What is this about??? We are so close that I would just say no to anything else.

I can get my own financing through my credit union but it would take a day to get the check...

mcate

Not sure if it's this way everywhere, but my experience is that X-Plan gets rid of those dealer fees.

Don't know why they're asking about leased vehicles.

rogan01

Wanted to update. Just got a call from the salesman saying that the SM is still considering - no "yes or no" on my new offer yet. Asked me to come in so that they can see my trade again as "things change at the beginning of the month". Mind you I have been there twice - last Friday in fact, with the car...

Anyone want to bet that the valuation on my trade - now at $25000 goes down by $1000 for some reason? Going in at 11:30. Should I expect this is just a formality to get me physically there? Any ideas/strategies at this point.

Getting pretty tired of this whole thing... but thank you all for the help and support. Greatly appreciated!

AzPete

I would simply ask them if it is a deal or not...if not as you want it....walk....they may still follow you to your car with the right offer.....if not, drive off. To me, it is no big deal to walk off...