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23:05:45 - 04/25/2024
General Dakota Board
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figitdotcom
R/T
 
10/07/2003
15:28:55
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 Subject: Can you haggle the interest rate?...
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Message:
For future reference on a new car loan can you haggle the sales guy with the interest rate? Say it's either dodge/honda/ford whatever and the sales guy comes back and says listen, I got you approved at 4.75% so blah blah your payment will be this blah blah. Can you say screw that, I need it to be @ 4.25%? Is it out of their hands or IS there room for play?
Thanks guys,
-m
// mike ellan
2k r/t: pd blower @ #6, msd6-btm,
gibson catback, fastman 53mm tb,
jba wires
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jaggy
GenIII
10/07/2003
17:57:48
| RE: Can you haggle the interest rate?...
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There are 4 different things they use to bargain.
the price of the car, the price of trade in, Down payment and interest rate.
large amount down, no trade in, good credit = less sticker price and lower interest rate.
in order to get a lower rate you will have to have more down and higher payments.
They will try and get you to bargain on one for the four areas and then give ground on the one you dispute, usually trade in. then they will not budge on sticker price.
I hope this helps, a car salesman friend of mine explained it to me when I bought my dodge.
by the way, how did the sale of the RT go?
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pbxr
GenIII
10/08/2003
06:04:49
| RE: Can you haggle the interest rate?...
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Here is the easiest way to haggle interest rates. Go and get yourself pre-approved from a lender other than whom the dealer deals with ie: State Farm, local bank etc. Sit on this information, let the salesman pitch away. There is nothing more fun than countering an offer saying well I am already pre-approved at x% via another lender, what is your deal? Dealer trick 101, Finance managers, and dealships alike get kick backs from specific lenders, who typically charge a higher % rate. Good luck, and what ever you do, don't go in saying I want my payment to be ... Chances are, the dealer has several options to go with, and sometimes, they choose the higher of all rates to get you ... per month. Research your trade in, and be honest with yourself as far as condition, and research true value of new vehicle purchased. Knowledge is power my friend
'01 Sport Auto 3.9, CC, Style and Perfomance mods: 3923s, Intense Cold Intake, Dynomax SuperTurbo 17748, Wal-Mart special roll on bedliner, MOOG upper and lower ball joints, V8 TB, clear corners, gutt guard, tinted, SuperChips Audio Mods: JVC head, RF 1200watt, 1 pwr acoustic 10",RF in da doors
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EBL
Dodge Dakota
JOIN HERE
10/08/2003
09:16:43
| RE: Can you haggle the interest rate?...
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Message:
Everything is negotiable.
Don't be afraid to walk away. There are always other dealerships to buy from/people selling their vehicles.
Try to get auto loans from credit unions. They are almost always cheaper than the dealer. When I refi'ed my last vehicle, it only cost $20 for them to do the paperwork.
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01DakQC
Dodge Dakota
JOIN HERE
10/08/2003
11:22:16
| RE: Can you haggle the interest rate?...
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Message:
By all means haggle over the interest rate. I managed to get them to agree to a 2.9% rate for my used Dakota. They were offering 4.9% when I got there.
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