Hi everyone. I just bought my third Dodge Ram. I still have my Dodge Ram Cargo Van I use for work but the new one is a 2007 quad, SLT with a 5.7 liter hemi, power everything and a great truck! I got it today for $21,474 plus TTL. I was kinda pressured into buying the extended warranty which I think is a total waste of money because I know these are solid trucks.. so you guys tell me what you think.

I applied for financing online and I got approved. I went and they told me I was only approved for a pre-owned truck. I go look and found a 2006 Dodge Ram with 18,000 miles and a V-6. The dealer was asking $21,500 and it checked out with kelley's blue book so I took it. But I told him 3 times I wanted to check out the end of year clearance sales and he said I only got approved for a used one. Still the used was better than the one 03 with 122,000 miles.

So I go back today to get the floormats. I decide just for kicks.. let's go check out the trucks. They tell me they have 07/hemi. They also tell me that they work with the finance company who approved me. Well I got PISSED and went over to the pre-owned section and demanded they take care of me! I was really cortigual so I got what I wanted.

So here comes the bottom line. We start signing the contracts. I notice, extended warranty. gap insurance, and road hazard totalling almost $3,000! I said "no no no!" The guy doing the paperwork gets pissed because I wouldn't buy anything extra (hey, I believe in these dodges and I don't see a need for an extended warranty!). So after he tried to sell me for 2 hours on the warranty his boss comes in and says "well, we're not going to be able to do the deal. We quoted you a low price but we have to make money off something so we can't sell it to you for that price"

I immediately opposed to what he was saying. But bottom line they wouldn't sell me the car without the warranty so I tried other avenues.

OK. The GAP.. I understand. Cars depreciate. The road hazard was like $265, no big deal. But they knocked off 1 point off of the interest charge if I bought the warranty. So in actuality I paid about $1,000 for an $1800 warranty that extends it to 100,000 miles bumper to bumper.

I don't know though. I really don't like the ethics behind their office and it left a really bad taste in my mouth. First they try to "slip" it in... then they tell me they can't do the deal without it. I mean... should I complain? I still feel like I pretty much stole the whole deal anyway (I've been in sales all of my life... I'm tough!)

Should I be feeling good about the deal? Or bad? My credit is TERRIBLE! I mean BAD! I'm surprised I got financing period. I mean seriously.. it was a real blessing from God. Then I get 11.9% interest.. high I know but I know people paying 17.9%

So. Count my blessings? Feel ripped off? Or something in the middle?

 

First and foremost, congratulations on your new Ram! Bought my first Ram 3 months ago, no regrets, even though some dealers are now blowing out the '07 QC Big Horn Hemis for $2K less than what I paid. IMHO, you should have no regrets if owning the truck fits into your budget.

Could you have gotten a better deal thak the $21K? I contend we all could have gotten a better deal on ourtrucks, but time is money. I used to spend three weekends or more to save that last $500, going from dealership to dealership and back... not worth it any more.

As far as the dealer's tactics in the finance office- dang, I thought that behavior in dealerships was gone years ago. What state are you in? Here in Southern California it seems to me the crooked dealers got so much bad press in the evening news that they either changed their behavior or perished. In the past 15 years of buying 10+ new cars, I've never spent more than 30 minutes in the finance office. Sorry to hear that your experience didn't go as smoothly.

Gap insurance: if you really don't care about having it and it's not a condition for your loan, cancel it. Might be fully refunded if you cancel within 60 days of purchase. For more info, google "how to cancel gap insurance". Your insurance company should offer gap insurance (mine does, agent usually asks if I need it when I tell him I visited a dealership again), my bet is that your insurance company's rate is lower and might be happy to cancel the policy that the dealership lined you up with.

Interest rate: remember you can always refinance. Keep shopping, even though you already have your vehicle. I did on my first new car (way back in '85), saved 4% by going with a credit union. So now my standard practice is tolet the dealer finance me at their best rate, then I refi with my credit union if the credit union can beat the dealer's rate.

You probably already know this, but to minimize the impact of a the interest rate, just pay the loan off as fast as possible. Add like $50 or $100 a month to your payment, for example.

Extended Warranty: for how long? My dealership wanted $2100 for the 7-year bumper to bumper no deductible + rental car. If you got it for $1K that's a killer deal, my dealer wouldn't move from his price. Would have done it for $1K, since this is my first Chrysler product.

What color? Got any pics to post?

 

What they did was wrong. They are probably making a few interest points for them selves too. I would call dodge and complain that they forced you to either buy these extras, which you arent required to buy, and you feel they forced you into them. Even if they sell it for what they actually pay for it, dodge still gives them a check for, if i remember correctly, 1400 or so per truck. So they make money.

 

Last time I checked, domestic's hold-back about 2.5-3% less than invoice to the dealer, so even if they sell it at "cost:", they're making money.Financing in-house at11.9%, they're definitely making money! Strong-arm tactics make me walk instantly, but I don't have the credit issues you are faced with.

IMO, you did get a good price though, so enjoy driving your new ride andblast the dealership when the factory sends you their after-purchase questionaire!

 

Thanks for your replies. I will take some pics and post them later today! I wrote a little poem. I think you guys can relate.

You've stuck with me from thick and thin
through scorching heat and violent winds
through sunny days and perfect nights
100,00 miles without a fight

We laughed we cried we worked and played
I never thought I'd see the day
I'd love another, I thought we were stuck
But DAMN I love my NEW Dodge Truck! (with a hemi!)

 

pics...

My Driveway (New Truck is Red, Old is Silver and of course the work van...an 01 Dodge Ram with 222,000 miles!



My new Dodge.. with a Hemi!
(I'm moving on the 1st otherwise I'd demand the trees hanging over my driveway get cut down!


My old Dodge. 03 V8 SLT with running boards and 4x4. I'm going to miss the 4x4 and of course a Ron Paul bumper sticker!

 

I'm no expert, but the dealer doesn't tell you that they can't do the deal, you tell them you can't do the deal and start walking out. They WON'T let you walk out that door, without at least a better offer!

 

Whoa. Two-tone is pretty nice!

Honestly, that poem is corny. But you're absolutely right, I can relate.

 

hahaha. Yea. I know it's corney... It was kinda meant to be. Hell, I wrote it in 30 seconds :P

 

Well, I agree, you should of said, "No, I will not do this deal if this is the way you do business" then started walking out!

The Dodge I have now is my 4th Dodge truck, I went to the dealer I had purchased my other ones from to see what kind of deal they could do. They called me and said they came up with a price and gave it to me and said I only had to come in to sign the paperwork. I told them, it wasn't a bad deal but, I think its still to much, thanked them for their efforts and said good-bye. They called me back 10 minutes later and knocked another $2000. off the price! You are the one making the purchase, not them! They would pull the things you say they did, I would of said "thank you, I can see you do not want to sell a truck" and left, telling them I'll find a Dodge dealer that wants to sell vehicles.
To be going thru all of the stuff you went through and the pressure tactics, which is exactly what they were is totally uncalled for.
I don't know about your State but here, all you need is insurance to cover the vehicle if wrecked, warrenty wise ... What the factory offers is all you need. The dealership probably gets some kind of a kick back from these Warranty Companies for selling all this extended coverage. You can cancel what they sold you!