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Old 06-03-2013, 11:06 AM   #31
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Not sure about the dealership or jeep you are looking at but a few things to keep in mind. One don't be scared of used cars in general al lot of good deals and bargains can be had if you do your homework. Second most good used dealers you can get a extended bumper to bumper warranty (that's what I did 3 yrs added) for piece of mind. Last to keep in mind is that the value and pricing will vary depending on your area so keep that in mind when asking if a deal is good or not.

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Old 06-03-2013, 11:07 AM   #32
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Don't finance through the dealership. 15k over 6 yr at 3.X% is right around $250. Call up your credit union or even wells fargo. USAA might do autoloans for new baking members. Their process is painless.
I know State Farm does financing at 2.4%
I applied on Friday, said I'd hear back by today.
I should call them...

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Old 06-03-2013, 11:09 AM   #33
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Original Loan Amount $15,001.00
Interest Rate 3.85%
Last Payment Amount $107.98
Interest Last Year $251.22

Bi-Weekly, 6yr. For such a small loan amount the interest rate is, meh. You'd be fine at 4-5% even.
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Old 06-03-2013, 11:13 AM   #34
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I'm about to give you the best possible place to go for financing...

www.penfed.org

I've yet to get over 3% interest on even a used car loan.
To join, you either need to be part of the government or military, or you make one simple donation to a charity on their site, and you're in.
I haven't used anyone since. I purchased a new 2006 BMW M5 with 0.9%. I bought a used 2008 M5 with a 0.9% rate.
My Jeep... 0.9% interest.

Other cars 1-2.9%

Get approved first, then go shopping, and for the love of pete... please, NEVER EVER EVER... ask a salesmen about buying a car based on $### per month...
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Old 06-03-2013, 11:17 AM   #35
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I know State Farm does financing at 2.4%
I applied on Friday, said I'd hear back by today.
I should call them...

You won't get 2.4%. Remember to ask about push up the # of years you have the loan for a small increase in interest rate. If you do 6 years and stay below 18-19k on the jeep (considering 3K trade in) you'll be right in the ballpark.
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Old 06-03-2013, 11:18 AM   #36
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Get approved first, then go shopping, and for the love of pete... please, NEVER EVER EVER... ask a salesmen about buying a car based on $### per month...
If you know that the amount you have to spend is considerably less than what he would normally sell for, it's an entirely legitimate tactic. I'm basing this on my experience of being in sales for the last twenty years.

I realise that it's the accepted wisdom on here that all salespeople are the bastard spawn of Beelzebub, but like any industry there are guys who are reasonable and fair and good to their customers, and there are those who aren't. As the customer you always hold the power, as yet it remains illegal for us to physically force customers to sign anything so challenging a salesman to find a deal within your fiscal limits is a no-lose scenario. You can always walk away if you don't think he's giving you enough vehicle for your money.

If you walk into a dealership and tell the salesman that you've forty grand to spend on a Jeep then yes, you're inviting an amount of margin-padding, but in this situation I think it's better to see how deep a salesman will go.
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Old 06-03-2013, 11:20 AM   #37
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Sorry, but I entirely disagree. It's a horrible tactic because you're leaving the other shells in the shell-game up to someone else.

Get approved at the lowest possible rate elsewhere, and you'll know your buying power.
If you can only afford $200/month... find out what that translates into in terms of buying power. If it's $14,000, then don't spend more than $14,000.
Otherwise, you can get jammed into the "smart buy" plans or "leases" of all different sorts that are almost always bad financial moves.

Also, don't tell them what you're willing to spend... Your last paragraph is also a bad idea for the exact same reason.

Know what you can spend in total dollars. Shop for the best deal to get under that value, and don't share any of that data with a sales person. Just negotiate to buy the car/Jeep once you have found something that appears possible/reasonable.
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Old 06-03-2013, 11:23 AM   #38
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I was in your boat about 4 weeks ago. I decided I wanted a jeep again, figured all id be able to get is a used one with a trade of my 11 corolla s. Well I looked online found a 09 jku up the street at my local dealer. It wasnt a colour I wanted, wasnt the tire rim combo I wanted and only had hardtop. But I figured thats all I could do.

I went down spoke with the sales guy laid my cards on the table and said this is the car I have to offer on trade I was intersted in the 09 jku you have for 16g. He crunched some numbers said I can give it to you for 15500 and I'll pay off your lean on the corolla. He also then notified me that I could choose basically any jku sahara for 100 bucks ish more a month.

I now have a 2013 bright white jku sahara. Haven't looked back since.
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Old 06-03-2013, 11:24 AM   #39
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Just called State Farm. Didn't get approved. Credit is too young. /:

I know I'm gonna get laughed at, but how the F*** do I approach a salesman at a dealership. I know what I want. If it were up to me, I would get a 2013 Jeep Wrangler Sport S. Jeep has a cheaper model, just the Sport, but in Miami, you need air conditioning. Even with the top down, it's HOT.

Now, granted, I have my trade in, and I have no extra money to put down. As a woman, I know these guys take advantage of us and try to give us the runaround and whatnot.

If I get a loan outside the dealership, how do I tell them I don't wanna use their bank? OMG. I am sorry. I'm being annoying. )':
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Old 06-03-2013, 11:27 AM   #40
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Originally Posted by Scott in Houston View Post
I'm about to give you the best possible place to go for financing...

www.penfed.org

I've yet to get over 3% interest on even a used car loan.
To join, you either need to be part of the government or military, or you make one simple donation to a charity on their site, and you're in.
I haven't used anyone since. I purchased a new 2006 BMW M5 with 0.9%. I bought a used 2008 M5 with a 0.9% rate.
My Jeep... 0.9% interest.

Other cars 1-2.9%

Get approved first, then go shopping, and for the love of pete... please, NEVER EVER EVER... ask a salesmen about buying a car based on $### per month...
Thanks! Gonna look into it! Any idea what the donation has to be?
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Old 06-03-2013, 11:27 AM   #41
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Seriously, look into PenFed. (See my post above)
They are the best and your young credit will likely not be an issue.

EDIT: Just saw your response. The donation is either $25 or $50.

Also, read this article...

Confessions of a Car Salesman
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Old 06-03-2013, 11:29 AM   #42
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Sorry, but I entirely disagree. It's a horrible tactic because you're leaving the other shells in the shell-game up to someone else.

Get approved at the lowest possible rate elsewhere, and you'll know your buying power.
If you can only afford $200/month... find out what that translates into in terms of buying power. If it's $14,000, then don't spend more than $14,000.
Otherwise, you can get jammed into the "smart buy" plans or "leases" of all different sorts that are almost always bad financial moves.

Also, don't tell them what you're willing to spend... Your last paragraph is also a bad idea for the exact same reason.

Know what you can spend in total dollars. Shop for the best deal to get under that value, and don't share any of that data with a sales person. Just negotiate to buy the car/Jeep once you have found something that appears possible/reasonable.
"Smart buy" plans or "leases"? What do you mean by that?

I'm not going to try and convince you of the error of treating salespeople as adversaries or of assuming they're going to shaft you, too many people go through life thinking like that and frankly I'm bored of trying to explain to them why they're wrong. Just know, if you think that you get a better deal by giving the salesperson less information, you fail to understand the first thing about how sales works and how salespeople think and behave.
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Old 06-03-2013, 11:32 AM   #43
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Originally Posted by Scott in Houston View Post
Seriously, look into PenFed. (See my post above)
They are the best and your young credit will likely not be an issue.

EDIT: Just saw your response. The donation is either $25 or $50.

Also, read this article...

Confessions of a Car Salesman
So I'm at the website. For the purchase price do I put the MSRP?
Sorry for all the questions.
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Old 06-03-2013, 11:36 AM   #44
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So I'm at the website. For the purchase price do I put the MSRP?
Sorry for all the questions.
No. It will be the actual purchase price. You can estimate at this point, and change later if needed.
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Old 06-03-2013, 11:36 AM   #45
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Just called State Farm. Didn't get approved. Credit is too young. /:

I know I'm gonna get laughed at, but how the F*** do I approach a salesman at a dealership. I know what I want. If it were up to me, I would get a 2013 Jeep Wrangler Sport S. Jeep has a cheaper model, just the Sport, but in Miami, you need air conditioning. Even with the top down, it's HOT.

Now, granted, I have my trade in, and I have no extra money to put down. As a woman, I know these guys take advantage of us and try to give us the runaround and whatnot.

If I get a loan outside the dealership, how do I tell them I don't wanna use their bank? OMG. I am sorry. I'm being annoying. )':

Haha, well, to be honest, getting a loan on a new (or certified) car is usually really easy, especially if you just graduated college. Best rate I ever got was on my BMW after graduating. 2 years later with a mortgage, among other expenses, I don't even get close.

The key to buying a new car is #1 negotiate sale price, #2 negotiate trade in price; #3 see where that puts you in view of sales tax, etc., #4 say yes or no.
If no, politely tell them that it's X amount too much, give them your number and ask them to give you a call back if they can do anything for you, but it's early in the month, probably wont get any bites.

If yes, politely say no to everything else they try to sell you.
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Old 06-03-2013, 11:38 AM   #46
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Originally Posted by Scott in Houston View Post
Seriously, look into PenFed. (See my post above)
They are the best and your young credit will likely not be an issue.

EDIT: Just saw your response. The donation is either $25 or $50.

Also, read this article...

Confessions of a Car Salesman
$100 says they'll deny her and she'll be out $25 or 50 for a whole lot of junk mail.
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Old 06-03-2013, 11:40 AM   #47
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"Smart buy" plans or "leases"? What do you mean by that?

I'm not going to try and convince you of the error of treating salespeople as adversaries or of assuming they're going to shaft you, too many people go through life thinking like that and frankly I'm bored of trying to explain to them why they're wrong. Just know, if you think that you get a better deal by giving the salesperson less information, you fail to understand the first thing about how sales works and how salespeople think and behave.
Balloon notes. The purchase equivalent of a lease.

I am not saying treat as an adversary. It's entirely possible to 'team' with a sales person and not treat them that way, but the equation just needs to be simplified. Know what you can buy, as a result of the best loan/rate you can find. Know what you need for your trade, and then shop for the best deal. Simple. At that point, you're only discussing purchase price and trade. Period. If you go as a "payment buyer" you leave way too many options out of your control...

BTW, I'm in sales... software sales, but I've also been in sales of many other things including vehicles. I get it.
Please don't interpret my posts as saying you have to treat car sales people like dirt bags, or con artists. Most are not, but that doesn't change the fact that you as the buyer should try and control as many of the variables as possible.
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Old 06-03-2013, 11:42 AM   #48
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$100 says they'll deny her and she'll be out $25 or 50 for a whole lot of junk mail.
I've used them for 13 years and never received any junk mail.
I've purchased 10+ cars with these people. They're the easiest organization to deal with out there... I've been through enough to know.


And she can get approved/denied prior to making a donation.
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Old 06-03-2013, 11:46 AM   #49
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Putting $21,500 as purchase price.
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Old 06-03-2013, 11:48 AM   #50
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I've used them for 13 years and never received any junk mail.
I've purchased 10+ cars with these people. They're the easiest organization to deal with out there... I've been through enough to know.


And she can get approved/denied prior to making a donation.

Not quite as stellar reviews from others, however.
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Old 06-03-2013, 11:49 AM   #51
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Balloon notes. The purchase equivalent of a lease.

I am not saying treat as an adversary. It's entirely possible to 'team' with a sales person and not treat them that way, but the equation just needs to be simplified. Know what you can buy, as a result of the best loan/rate you can find. Know what you need for your trade, and then shop for the best deal. Simple. At that point, you're only discussing purchase price and trade. Period. If you go as a "payment buyer" you leave way too many options out of your control...

BTW, I'm in sales... software sales, but I've also been in sales of many other things including vehicles. I get it.
Please don't interpret my posts as saying you have to treat car sales people like dirt bags, or con artists. Most are not, but that doesn't change the fact that you as the buyer should try and control as many of the variables as possible.
Hmm. I don't agree with your concerns, nothing's ever out of your control. You always have the ultimate power as a customer.

Balloon payments on new cars are actually a really good idea, and might be ideal in this situation. The mistake that people make with those deals is to only look at one component in isolation, usually the monthly payment, and don't add the deal up completely. Yes, you'll pay a little more, but if the options are a finance deal for a Jeep that's going to be twelve years old by the time the last payment is made, or a three year deal for a brand new Jeep that comes with a full warranty and all of the other benefits, and a balloon at the end, I don't understand the problem. You just have to look at the deal in its entirety and assess how reasonable it is.

If you're in sales, you understand that the more options that are on the table the easier it is to find the customer what they really want. If you come to me with a specific outcome you want to achieve and only give me one way of getting to it, I'm only going to be able to give you a yes or no answer. Give me the flexibility to find different ways of achieving your desired result, and I have a lot more chance of getting to it.
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Old 06-03-2013, 11:50 AM   #52
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Just called State Farm. Didn't get approved. Credit is too young. /:

I know I'm gonna get laughed at, but how the F*** do I approach a salesman at a dealership. I know what I want. If it were up to me, I would get a 2013 Jeep Wrangler Sport S. Jeep has a cheaper model, just the Sport, but in Miami, you need air conditioning. Even with the top down, it's HOT.

Now, granted, I have my trade in, and I have no extra money to put down. As a woman, I know these guys take advantage of us and try to give us the runaround and whatnot.

If I get a loan outside the dealership, how do I tell them I don't wanna use their bank? OMG. I am sorry. I'm being annoying. )':
Here's what to expect.

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Old 06-03-2013, 11:52 AM   #53
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Yeah, I just read their reviews... woah.

Maybe Wells Fargo? I do bank with them.
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Old 06-03-2013, 11:56 AM   #54
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Yeah, I just read their reviews... woah.

Maybe Wells Fargo? I do bank with them.
What reviews? Curious. Any link?

I am just speaking from personal experience. I've referred many people to them. I'm a mod for a couple of Porsche forums, and there are a bunch who have sworn by them as well.

I have no vested interest in them, but just have used them so many times and saved a ton of money. I can't stand the regular banks now.
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Old 06-03-2013, 11:58 AM   #55
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What reviews? Curious. Any link?

I am just speaking from personal experience. I've referred many people to them. I'm a mod for a Porsche forum, and there are a bunch who have sworn by them as well.

I have no vested interest in them, but just have used them so many times and saved a ton of money. I can't stand the regular banks now.

http://http://www.yelp.com/biz/penta...n-alexandria-4

I swear by Yelp, so yeah. They can be awesome, but I like to hear (well, read) about what people have to say about a certain business.
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Old 06-03-2013, 12:01 PM   #56
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You know who's got the biggest motivation to approve you, and to give you an attractive rate? I'll give you a clue, it's the company that loses the least from a default and lien recovery on a Chrysler vehicle.
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Old 06-03-2013, 12:04 PM   #57
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You know who's got the biggest motivation to approve you, and to give you an attractive rate? I'll give you a clue, it's the company that loses the least from a default and lien recovery on a Chrysler vehicle.
Obama?
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Old 06-03-2013, 12:16 PM   #58
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http://http://www.yelp.com/biz/penta...n-alexandria-4

I swear by Yelp, so yeah. They can be awesome, but I like to hear (well, read) about what people have to say about a certain business.
Interesting... Well, it appears the customer service has gone down some, but I haven't experienced it. A lot also appear to be sour grapes from those who were rejected.

I don't see how it could hurt to try them though. Once you've been approved, there's no need for customer service. I only talk to them while setting up my loan, and did this 2 years ago and last fall, and both times it was very easy and smooth.
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Old 06-03-2013, 12:24 PM   #59
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I just want to reply I like the pink Floyd reference as the title
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Old 06-03-2013, 12:25 PM   #60
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I just want to reply I like the pink Floyd reference as the title
^this.

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