[MrChevyDC3]

GOod day folks-


I'm in the hunt for a new Camaro, been in the hunt since 10.15.21 @1100 with big dealership here in MI. Added another order at another promising dealer in Jan, also with our good friend Joe @JMC. Although they all tried, no one could attain an allocation for my rapid blue 1ss vert.

Last week I started seriously looking for dealers within 2000 miles- I didn't want to wait for a 2023. Found a few with what I'm looking for. I intend on using PLYCAR, and I've been following those threads.

Question Is,
One dealer said that I had to use their financing in order to be sold to at MSRP. If I used my own bank, they wouldn't sell at MSRP. Is that a thing?

[armycop71]

Right now, the GM rates are better than most banks. I got 1.9% for 72 months. My credit union was 2.49% when I checked.

[Andy2002a]

The GM rate is pretty good. However, if you don't want to use it you can go through GM and pay the car off after the 1st month with whatever financing you want. Just confirm with your bank beforehand.

[Jofu]

As armycop71 said, GM's rates are way better than banks' rates. I myself went for the 0.9% for 60 months (and a bigass down payment, just because). No bank was near that rate!

And looking at the loan fine prints, I couldn't find any pre-payment penalties if you somehow wanted to do that, either to payoff the loan or to refinance with somebody else.

Geoff

[Jofu]

Oh, and to answer your immediate question, I don't believe financing through GM is a requirement for MSRP. It certainly was not a requirement when I purchased my car 3 weeks ago.

That would mean it's purely a dealer "requirement", allegedly because they get some sort of incentive back from GM financial.


Geoff

[fielderLS3]

By their financing, do you mean GM financing, or does the dealer have their own thing going?

Either way, I've never heard of such a thing. The finance company should have no effect on the principal negotiated. Dealer is just getting creative. Just like some try to require you to get a security system or other useless but lucrative accessories, except sneakier. This is one of those red flags to not do business with them.

[timesublime]

I wanted to but a beautiful 2ss 1LE from a place in KS. J & R CAR AND TRUCK CENTER, LLC. They will not allow you to use the GM financing, have to use their BS financing which is 7.9%. I sincerely hope they go out of business.

[NashZL1]

I bought mine with no contingency regarding financing at slightly less than MSRP last month. They did offer financing through GM.

Dealers are independent businesses that can pretty much stipulate whatever they want. They do get a kickback on financing in many cases, so there's an incentive to drive you (pun intended) towards those lenders.

I've always heard the loan has to have been in effect for 3 payment periods before the dealer gets their "rebate" from the consumer's lender.

[WhiteMale]

Originally Posted by NashZL1

Dealers are independent businesses that can pretty much stipulate whatever they want. They do get a kickback on financing in many cases, so there's an incentive to drive you (pun intended) towards those lenders.

I've always heard the loan has to have been in effect for 3 payment periods before the dealer gets their "rebate" from the consumer's lender.

This was an exact thing I ran in to with a big name dealer. They discounted 1K for use of their lender whoever that was going to be. My partner is a bank manager and I intended to bring a check but they said the 1K was contingent on their lender. So I thought it through and said I'll just turn around and immediately flip the loan and they got on me about that 4 month for them to get their incentive from the lender.
So I walked but it tells you how much kickback a dealer can be getting from a lender if they incentivize you for $1K.

[GearheadSS]

What are you looking for specifically? I have a Rapid Blue 1SS Convertible at 3800 that was just built yesterday and it has not been spoken for yet. It's available at MSRP.

1AJ67-1SS Convertible
Primary Color: GMO-Rapid Blue
Trim: H1T-Cloth, Jet Black, Interior Trim
Engine: LT1-Engine, 6.2L, 8 Cylinder
Transmission: MX0-Transmission, Automatic w/ Overdrive
56V: Wheel, 20", 5 Spoke, Black
A9B: Black Package - Satin Black Mirrors & Spoiler
AQJ: Recaro Seats
BCD: Performance Copper-Free Brake System
NPP: Performance Exhaust System
RMH: LPO: Front Splitter Carbon Flash Metallic
SFE: LPO: Wheel Locks

[Zapote21]

Stunning... My build will be similar to that one but 2SS with MRC, and other changes

[Kblanton2]

I bought mine for MSRP and all I did was hand the salesman a check.

It's all from the dealer, not from GM.

[MrChevyDC3]

Man you all really have me contemplating now. I was just about sold, he has overnighted me the paperwork. I see on the Chevy buildsite, 1.9% for Well Qualified, which I thought I was. Roughly a 750 credit score across the board. He offered me MSRP minus $750 incentive, and said GM returned with 5.4APR. I Asked about the advertised offer and he said that's for the 850 tier credit score. I offerd another 2k down and he GMFinancial returned with a 4.1APR loan. I can refi in 6months.

Overall not a bad deal, MSRP - $750.

PLYCAR wants $950 to go a couple of states. I don't want to drive it 4 hrs straight yet.

Thanks for the offer @GearheadSS, �� That's a sweet whip. That's exactly what I was looking for at first but since I've found this gorgeous 2SS for a smidgen under MSRP, I want the heated and cooled leather seats and steering wheel and camera mirror and lights and gadgets to play with over the years as I pay for this thing lol

[Gnuchoice I]

I just bought a 2022 1SS 1LE with PDR and got .9% for 60 months and $750 loyalty cash from GM. I paid MSRP and shipped the car from WI to NC.