[Jastone]

I'm looking at a 1le from a local dealer. MSRP is $46,075. After negotiating with the dealer and getting all the incentives I qualify for (which is 0 except for the $1000 gm financial incentive, which I'll refinance after purchase for a better rate) I got the total down to $41,500 + TTF. My question is, should I wait for April incentives or take the deal now? The dealer already told me the deal is good till 3-31-17 only because they're trying to hit a sales quota. As of April 1, incentives only for the car. Do you guys think gm will be rolling out better incentives in April or not?

Let me know what y'all think

Decisions, decisions!!

[Ryephile]

It's four and a half grand off. I'd say it's a solid price. The big question is; do you want the car now, or do you want to play the waiting game?

[jpsuperman81]

Sounds like a fair deal to me, if you want the car buy it. Do you know what your out the door price is gonna look like including ttf, that's the number I always want from the dealer, I say I'm give you my trade and I'm gonna write you a check for _____ amount, give me your best number out the door.

[Jastone]

Originally Posted by jpsuperman81

Sounds like a fair deal to me, if you want the car buy it. Do you know what your out the door price is gonna look like including ttf, that's the number I always want from the dealer, I say I'm give you my trade and I'm gonna write you a check for _____ amount, give me your best number out the door.

I do. Tax is 6% here and title n fees $250. I'm not trading anything. It'll be an addition not a substition. Finance total will depend on what I decide to put down obviously. I'm leaning to doing it now and not gambling on April incentives.

[jpsuperman81]

I could of ordered mine but I didn't want to wait, I found 3 I wanted close enough to drive to and negotiated my deal I over the phone. Week later I drove to Florida and bought mine and drove it home. Bottom line if you want it go buy it, they aren't gonna have any super mega deals once aprils hit, might pay tiny bit less might pay tiny bit more. I saved about what your saving and I was happy, wasn't best deal wasn't worst at the end of the day no two deals are alike and if you feel comfortable make the purchase.

[WILWAXU]

Looks good to me. If it's everything you want, I would pull the trigger.

[tx6g1le]

That's a solid deal. Most who took delivery of the first 1LE's paid around that and they haven't dropped much if any. I'm sure someone will chime in and say "I paid 35k Out The Door for mine!" but they are lying. GMS (employee) pricing is close to that without incentives.

Side note: If I'm understanding you correctly OP, you want to refi after buying the car. I'd advise you not to do that IF you finance it the first time. You'll end up paying off the interest from your initial finance term then roll over the negative equity into your next note; which will increase your interest rate since Loan to Value will be through the roof.

TL;DR If you re-fi your newly financed vehicle you'll pay for 2x the interest.

[apexit53]

hah sounds like a game of Russian roulette! I say take it. you may save more next month but you also may lose more.

With the warmer months ahead I dont see the deals on sport cars going down, but I could be wrong.

[Glen e]

My take: April Incentives should be little different than March on ground Inventory levels are about the same, and it's the start of a new quarter. If they're going to tweak it they usually do it the end of the quarter, and in the end of the year.

[Jastone]

Originally Posted by tx6g1le

That's a solid deal. Most who took delivery of the first 1LE's paid around that and they haven't dropped much if any. I'm sure someone will chime in and say "I paid 35k Out The Door for mine!" but they are lying. GMS (employee) pricing is close to that without incentives.

Side note: If I'm understanding you correctly OP, you want to refi after buying the car. I'd advise you not to do that IF you finance it the first time. You'll end up paying off the interest from your initial finance term then roll over the negative equity into your next note; which will increase your interest rate since Loan to Value will be through the roof.

TL;DR If you re-fi your newly financed vehicle you'll pay for 2x the interest.

I'm not quite following you. I've actually done this before most recently when I bought my wife's XT5. I got the rebates from the manufacturer, financed the vehicle with GM, then a week later went to my CU and financed the car as NEW. They payed off gm, no penalties, I kept the rebates and got a better APR. Let me know what I'm missing.

[tx6g1le]

Originally Posted by Jastone

I'm not quite following you. I've actually done this before most recently when I bought my wife's XT5. I got the rebates from the manufacturer, financed the vehicle with GM, then a week later went to my CU and financed the car as NEW. They payed off gm, no penalties, I kept the rebates and got a better APR. Let me know what I'm missing.

So you signed paperwork and a law contract to finance the vehicle through GM financial, then went to your CU and essentially did the same? But, GM financial still allotted you the rebates associated with financing through them even though you unwound the deal with them?

To answer your question, you're not missing anything. I cannot believe the dealer has not had an audit and been penalized the proceeds they've been given for these deals. I've helped run several dealers and I can tell you major car financiers have 0 tolerance for this.

On a lighter note, you're getting the best of both worlds and the dealer is now responsible for the chargebacks.

EDIT: The reason for the advice is because most assume a car loan is similar to a home loan where you're not responsible for the financing if you refinance. But you end up paying off the financing while creating a larger and usually longer loan term.

[Jastone]

Originally Posted by tx6g1le

So you signed paperwork and a law contract to finance the vehicle through GM financial, then went to your CU and essentially did the same? But, GM financial still allotted you the rebates associated with financing through them even though you unwound the deal with them?

To answer your question, you're not missing anything. I cannot believe the dealer has not had an audit and been penalized the proceeds they've been given for these deals. I've helped run several dealers and I can tell you major car financiers have 0 tolerance for this.

On a lighter note, you're getting the best of both worlds and the dealer is now responsible for the chargebacks.

EDIT: The reason for the advice is because most assume a car loan is similar to a home loan where you're not responsible for the financing if you refinance. But you end up paying off the financing while creating a larger and usually longer loan term.

I get what ur saying but it's basically a payoff of the original loan, not a "refinance". My CU provides "NEW" car loans for vehicles under 10000 miles and current model year. The dealer isn't doing anything, I am. No payoff penalty (at that time) with GM. I'll have to check the current terms obviously.

[Vintage]

Good price. Buy it, drive it, and never look back. A great purchase of a really great car. Do not torture yourself. I don't.

[Cornholio]

Originally Posted by Jastone

I get what ur saying but it's basically a payoff of the original loan, not a "refinance". My CU provides "NEW" car loans for vehicles under 10000 miles and current model year. The dealer isn't doing anything, I am. No payoff penalty (at that time) with GM. I'll have to check the current terms obviously.

Yes this an example of simple interest which is how most car loans work. Interest only accrues every billing cycle. Not sure what kinda loan tx above had.

You might check to see if there is a minimum term before paying off. I have seen where loans require 3 or 6 months to qualify for the incentives.