"I can go as low as $xx,xxx but only at standard APR" - does this preclude 0% financing promo?

[minski]

According to one dealership, that's pretty much what I've been informed - that they can go as low as a certain amount but only with 2.xx% APR through them. There's 0% financing promo that I was hoping to get (and if not, use the 1.99% APR from Alliant but that would mean paying "sticker price" according to my dad who was the one who got the quote). My thinking is, this 0% financing promo is also through dealership - isn't it? - so why would this be precluded? I understand that the incentives might not be included if using 0% financing (since the website mentions the either/or deal) but dealership discount as well? 

I'm trying to figure out what is "false" and what is "true", and what my best options are. 

I'm reading the guide for first time buyers about having dealerships compete and getting the lowest quote but having no luck putting it into practice. And trying to figure out how this car financing thing works with dealer incentives/financing/lowest quote. And the math. And being smart. It's hard. 

Any advice/suggestions/words of wisdom?

[Anonymous]

My wisdom is there are thousands of dealers all across the country that you can email at any minute.  Send out ten or more emails to local dealers and let them fight it out.  There is no need to let a single dealer man handle you.  There are plenty of good dealerships that just want to sell cars and treat their customers right.  I would walk from that deal.

[minski]

Thank you for your advice. I appreciate it. 

I've emailed others but have not received one quote from them. They don't want to email me back but to call me, and I'd rather have something in writing. When I insisted on email, they didn't bother replying. 

I'm a bit limited in that I currently have NO car. I will need to rely on others to take me to the dealership to buy one so I really can't go very far. 

[Anonymous]

Point blank tell them that "sticker price" isn't an option & that the price isn't and shouldn't be dependent upon the interest rate that you are charged.

Those are 2 completely separate transactions.

You decide on & negotiate on the price. Period.

Once that is decided upon, then...and only then...will you begin discussing financing which will include a discussion on interest rates.

However, you should already know your score going in so that they can't say you have bad credit when you know you don't. At this point, the price of the vehicle NEVER changes!! It has already been decided upon!

[Anonymous]

Often prices are given on a vehicle to include all incentives including ones that may exist for you financing the vehicle thru their finance source. You could be giving up incentives by taking the 0% offer which is why they are telling you the price could change.

[fltireguy]

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@Anonymous wrote:
Point blank tell them that "sticker price" isn't an option & that the price isn't and shouldn't be dependent upon the interest rate that you are charged.

Those are 2 completely separate transactions.

You decide on & negotiate on the price. Period.

Once that is decided upon, then...and only then...will you begin discussing financing which will include a discussion on interest rates.

However, you should already know your score going in so that they can't say you have bad credit when you know you don't. At this point, the price of the vehicle NEVER changes!! It has already been decided upon!

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Remember the standard disclaimer on the promo rates "Dealer participation may affect price"

[Anonymous]

Hello, OP its been about a month since your post so hopefully this advice doesn't come too late. I'm not sure what state you are in but lets assume you're in California for my examples. 

1. Assume everything the dealership tells you is horse sh*t. 

2. Get your own financing first. If you don't have your own financing you're falling into their trap. They're basically saying, "Here's a GREAT APR at 2.xx% for you! You don't get to negotiate the price with us." But in reality, you can control both the price and the financing aspect because they're two seperate entities. 

3. Ask the dealer to see the invoice of the car you're buying (invoice is how much they paid for the car). Some might be hesitant, but they have to show you. If they don't just walk up and leave. 

4. Subtract about $2000+any factory rebates from the invoice. 

5. Multiply that number by 10% which includes the TTL (tax, title, & license). Whatever number you get is where you start negotiations. 

Worst comes to worst, you pay invoice+TTL. Good luck!