So I figured I would ask here!!
What your monthly payment? Did you get a better price when financing In house, or did you get a better deal when your financing was all set before talking to the sales person? When I bought my wife's van, we walked in with a Navy Federal check good up to $30K and acted as if we where going to pay cash!! Ended up getting $4500 less out the door, rather than just accepting the rate and full price of the van. What was your expereiance? I see new R/Ts at my local dealer and bet if I walk in with a bank check good up to 40k I could get a great deal out the door!!!! What r your thoughts!!!!!

 

They can only go so low. They are not going to lose money on a car just cause you have "cash" (in your case its not really cash) They are also sometimes incentivised to secure financing for you, so they have more to potentially "lose" if you come in and pay cash or have your own financing.
If youre thinking that you will be able to go in and buy a $47k-$50K Durango RT for $40K...uhm, let us know how that goes.

Theres pros and cons to both and it basically comes down to your financing rate..is it better through your own bank or their financing options? THATS where you will save your money, out the door price is negligible in tems of your financing rate that you pay over the years. Will coming in wth your own financing cost you any rebates?..etc. But out the door price is not one of the big factors. At least thats what Ive found in my 20+ years of new car purchasing.

You'd have better luck buying for that amount and that method by trying to find a used 14 model.

Good luck.

 

We went through a 3rd party for the financing and used TrueCar for our pricing.

For a 2015 Limited AWD with Captain chairs the MSRP was $41385, TrueCar stated an outstanding price would be $36873, we got it for $36800(it was the last day of the sales month).

Right now TrueCar is now showing the pricing as $37,623($800 more), however it looks like the models being built now have a power lift gate, which ours unfortunately does not have.


Chris

We also got 3 years of oil changes(Mopar contract, can use it at any dealership) and a new set of WeatherTech floor mats.

BTW, we spent the majority of Saturday and Monday night getting the best deal working two dealerships.

 

Truecar has the RT with the technology group for $45k.

That sounds about as good as youre gonna negotiate on your own. Give or take some rebates.

Ive seen RTs for a few grand less on some dealer websites, but those usually include every available rebate in which most people do not qualify for all available rebates so you lose a few once you work the deal.

I bought my RAM from a dealership that was priced as good as anyone. One of the perks of buying there was that they give you free oil changes. Ive bought from dealerships that offer that plus free tires (to a point) and other incentives. So thats even more to consider vs going into the "haggle free" zone. Thats the lazy man way to buy IMHO. Take some initiative and a little work to maximize your purchase to your favor in other ways besides purchase price when and if you can.
I know its a PITA and not worth it to alot of people but that's my opinion on it.

 

Having been on both sides of new car buying and selling, I'd offer two pieces of advice:


A. The dealer NEVER looses money on the sale of a new vehicle. Never.
B. The dealer will NEVER sell you a vehicle at TRUE invoice. Never.
C. Avoid trade-ins unless it is absolutely necessary. There is so much fudge room on trade-ins it can cost you thousands.
D. If you must trade, visit CarMax first for an appraisal. Depending on their offer you may have more ammo for a deal (e.g., Just got an Avalon for the wife; CarMax gave me $2Gs more for her '07 Volvo XC90 than dealer trade-in, plus Toyota's incentives added to the haul.)
E. The dealer ALWAYS knows more than you. Always.


So there they are. But you're thinking, "Hey, wait, you said two pieces of advice but you gave five."
Very good grasshopper. Advise piece one: don't believe everything you're told. Piece two, pay attention. You failed number one but passed number two. :-) Good luck.

 

When I purchased my used Durango about a month ago, after completing negotiations and waiting for the truck to get it's final cleaning, I asked the sales guy if there's really any benefit to paying cash since I so often hear, "Well, I'm going to go in and tell them I want to pay this much and I'm paying cash." He informed me they actually will negotiate a bit less if someone is paying cash because, as mentioned by Rammajama above, they get a kick-back from the finance companies if the purchaser finances through them. And here in Iowa the finance companies cannot charge a penalty for early payoff. A person can get financing one day, then pay it off completely the next day with no penalty.

Another thing to take in to account is any interest you might be earning on your checking/savings versus the interest rate you can get for a new car loan. I know buying campers fall under a different interest rate than buying cars, but when I bought my camper a couple years back I actually got a lower finance rate for the camper purchase than my monthly interest rate on my checking account so it saved me money to finance versus paying cash.

-Rod

 

Good advice.

We had no desire to sell the vehicle outright and we got 17k for our 2011 Durango with 83k miles.

We were 2nd owners, however it was begining to have rattles I couldn't locate and the rear end(shocks? Never got to diagnosing it) was making noise and we had a small dent on each front door( one that was there when we bought it and one from a shopping cart, both could b removed but only with drilling the door as unfortunately they were too far down and on a body line)

Appearance wise, interior and exterior(minus the 2 dents) looked showroom fresh. And we had all service records and just had the seconds trans service.

Regardless, it is what it is, we knew about what trade in would be and knew our TC price was solid.

Chris

 

It is possible to get RT's at a great price.

I bought my 13 RT in Oct of 2013 right when the 14's started hitting the lots. MSRP was $46,xxx and I paid $39,xxx out the door. Capt chairs, full size second row arm rest, sunroof, tow package, blacktop, AWD.

Trade ins can be beneficial as long as you negotiate that price after settling your new car price. Don't ever tell them how you are paying for the new car. If they ask if you are trading in your car, say no.

Get a good idea on what your old car is worth (kbb, carmax) and don't take less. By trading in you take money off the amount of the purchase and save in taxes. At least in Arizona. The $2k I would have lost in the trade rather than selling private party was washed in the $2k in taxes I DIDN'T have to pay because my purchase price was lower due to the trade.

Every states' tax laws vary but for us it was an easy decision.

Don't talk money down, trade in, or financing until you get your out the door price. Then work the rest.

And the best way I know how to judge a good deal is by following kbb as the vehicle ages. If you go straight to the red you got screwed. If you are always in the black you did a good job. You should never need Gap Insurance to cover the vehicle because you are upside down. That's for suckers.

 

LOTS more suckers out there than not.

 

This question isn't going to get any good answers since there are so many variables. The first mistake you're making is asking what the monthly payment is. If you walk into the dealership thinking in terms of monthly payments and not overall cost, you've already lost. Monthly payment is dependent on the interest rate, the amount financed, the length of the loan, etc.

If I told you I could get you into a Dodge Durango R/T for $250 per month, you'd probably be like, "where do I sign?" But then I'd show you the paperwork and you'd see that that particular Durango costs $45,000 and is financed over 25 years at 4.5% and you'll have paid over $30,000 in interest by the time you're done paying it off. If you think that's a good deal, I've got some swamp land to sell you.

First thing's first: Negotiate the best price on the new vehicle that you can with the options you want. Shop around and don't be afraid to walk out the door. Don't go in to the dealership planning to buy. Go in planning to negotiate and get information. The buying comes later.

Next: Secure your financing through your own bank first. If the dealer offers a better financing deal, go ahead with that if you're comfortable with it, but check the terms of the loan before signing. Not all loans are the same. FYI, I went in with a preapproved check for up to $40k from my credit union fully expecting to use that with an interest rate of 3%, but the dealer managed to secure 3rd party financing through a bank for 1.8%. Not surprisingly, I went with the dealer's financing.

Finally, negotiate the trade in last. Always last. Don't be afraid to sell on the private market if needed. And don't be afraid to walk if the trade in deal stinks. Dealers aren't going to want to lose a sale because they couldn't reach a deal on trade in. But you've got to show them you're willing to walk. If you've followed my advice about going to more than 1 dealer, sometimes you'll find that the trade in can become the biggest part of the deal. The dealers have much more wiggle room when negotiating trade ins than the new car purchase. In some cases, I've gotten 1 number from one dealer, went to another and the $$$ they were going to give me for my trade was double that of the 1st dealer. Went back to the 1st dealer with that info and the 1st dealer matched it + another 10%. So it pays to shop around.

And to answer your original question about my purchase. I purchased a 2014 Durango R/T last year. Tech package, nappa leather, tow group, and all the other goodies. MSRP was $47,500. I paid $42,400 out the door with tax, title, and license. But that's also employee pricing (5% below invoice) as I have a family member that works for Chrysler. My monthly payment is $380 and some change because I put down $20k.