Current Captive Deals

Anonymous · ‎03-21-2020

Due to the current crisis,are captive lenders being more lenient with credit? Also, want type of score is needed for FCA no payments for 90 days. GM was clear on which tiers would qualify,but what about FCA?

Flexfanatic · ‎03-21-2020

@Anonymous wrote:
Due to the current crisis,are captive lenders being more lenient with credit? Also, want type of score is needed for FCA no payments for 90 days. GM was clear on which tiers would qualify,but what about FCA?

I have been looking at some of the captive deals for Jeep and Ram Power Wagon for 0% and deferred payments and although I believe I would quality based on credit scores (in the 800's) there are restrictions for certain states and models for deferred payments so I would not be eligable.

I figured I'd wait it out to see if additional deals pop up in April but if the vechicle is popular then there is no reason for them to include it in the current offer (The GMC 1500 AT4 may get added to my list though

Dj4Money · ‎03-26-2020

Has underwriting changed? Not overnight, at least not yet anyway.

The fundamentals remain. I believe you must be working or at least have a fixed income. I am not sure how the dramatically higher UEB (Unemployment Benefits) will factor into that, it is income after all. I think this is important if you are still employed/1099/part-time rather than laid off.

Laid off gets access to the UEB extension and increase and some of the grant money going to the food industry will keep them on the payrolls, like I said this much different than anything we've seen in the credit card era (since the mid 70's).

I think what you'll see is 0%/72/84, loyalty incentives and much higher purchase incentives in April, no foolin.

Anonymous · ‎03-26-2020

My income is fortunately the same, work in an essential business. Just curious if they are buying deeper than before due to crisis.

Flexfanatic · ‎03-26-2020

I'm waiting and watching hoping the offers start in include either a Jeep Gladiator (Rubicon trim package) or a Ram 2500 (Power Wagon trim).

Anonymous · ‎03-29-2020

In my area, seems like dealers are not willing to deal just yet. Ones that will give quotes basically give MSRP minus rebates, small discount taken back by adding junk add ons.(not dealer fee stuff) They don't seem hungry to me. I'm emailing for quotes and I get a responses like come in for test drive with no real pricing info

Flexfanatic · ‎03-29-2020

@Anonymous wrote:

In my area, seems like dealers are not willing to deal just yet. Ones that will give quotes basically give MSRP minus rebates, small discount taken back by adding junk add ons.(not dealer fee stuff) They don't seem hungry to me. I'm emailing for quotes and I get a responses like come in for test drive with no real pricing info

Not sure what brand/model you're looking at but I normally find what dealers will offer (i.e., % below invoice pricing) by browsing user forums. For example on a Jeep Gladiator forum I'm a member of, there are two dealers in my area offering 5% below invoice and out the door price.

I wonder if they will be motivated around memorial day or will lack of inventory because an issue for consumers.

Anonymous · ‎03-29-2020

Chevy Equinox, Jeep Compass. Pricing wasn't bad since both have huge rebates but not much else. Overall I think they will let cars sit and let potential lack of inventory cause price increases in future.

Dj4Money · ‎03-29-2020

Well I am seeing much the same thing especially in California.

I'm in the market for a 2020 Forte GT or it's twin Hyundai Elantra GT N-Line (Wagon). The Forte is a sedan, the Forte5 GT wagon is available in Canada apparently. Anyway, I am looking manual transmission. The Forte includes most of the safety suite that is optional in the other cars including power moonroof. Adaptive cruise is only available with the 7 speed DCT via the GT2 upgrade for the Forte or Tech package for the Hyundai.

Mostly seeing MSRP, slight discount and rebates. Heavy price slashing is accompanied by dealer add-ons that drop the price below what I am seeing locally but I get a bunch of junk I don't want. It is still a bit too high or higher than my down payment budget. Capital One says I have to put down at least $1,000.

To get the financed amount lower, I started looking in Washington State and Nevada. I don't have to include taxes in the financed amount, I can pay those directly to CA DMV. That lowers my downpayment to a more manageable amount. That said I wasn't getting the price discounts I want/need to get into that window for Capital One and my budget.

Rumor has it Hyundai executives had an emergency meeting just before the stay at home orders hit in California. It's there same month sales had dropped 40%.

I think some juicer incentives are coming. The quick fix was extended deferred payments and long term, low interest financing.

I don't see the Forte getting much more than an additional $500, maybe $750 or $1000 but that's it. Current rebate for California (carries over if you buy out of state because it's where the vehicle is registered) is $1500. That's $250 higher than most of the country. I can see that going up to $500 as I said for a total of $1750, maybe $2000 total.

In my case it would only help a little, I see need a healthy price cut which I think is possible in the climate without the add-ons.

Dj4Money · ‎03-29-2020

You must be using Capital One Navigator like me.

That is exactly what I see, low down, decent rates only for some GM products and entry level Jeeps. Also Nissan Versa sedan

Can get a 2020 Equinox LS AWD with $1,500 down ($500 than Cap One min) for $17,995 amount financed and my rate is 15.29% (Recent Chapter 7).

Same amount financed (2020 Forte GT) ends up at 17.7% and requires $5000-$5500 down. I know what that is, but there's nothing new I want that cheap.