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I posted about getting my Fuschia this past saturday...I was so happy till monday came around. The dealer told me all was good to go and that I could take the car home and just come back in to finish the paper work...so they said. Called me monday saying the bank did not approve me for the amount I wanted...said that I could get the car but would need to put 3 grand down(!). Took the car back to them and said no thanks....so I was really down the past two days and now the dealer called today saying that ally/gmac would finance my at 3.5% but I would have to drop the reabtes??? So originally I was getting the car at 33,500 plus TT&L at 6.5%...now I could get the car but it would be 36,000 plus TT&L at 3.5??? They said the amount I would pay would be the same just pay up front or pay it in interest?

Need some advice on what to do? They did offer me a Deep Water Blue R/T classic with the sunroof has the only option at 30,500 and it would fit my banks terms for the 6.5...semms my payment some how was capped at 550.00?:(
 

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I have a deep water blue RT Classic and love it but it also has all the options your probly not going to have. Only you know what you can afford but I wouldn't downgrade the car just to own an RT.
 

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it is pretty close to the same thing. If you want the car do it. It is still a rotten way to do business though. They should not have let you take the car before the details were worked out. I would walk and try a different dealer.
 

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I posted about getting my Fuschia this past saturday...I was so happy till monday came around. The dealer told me all was good to go and that I could take the car home and just come back in to finish the paper work...so they said. Called me monday saying the bank did not approve me for the amount I wanted...said that I could get the car but would need to put 3 grand down(!). Took the car back to them and said no thanks....so I was really down the past two days and now the dealer called today saying that ally/gmac would finance my at 3.5% but I would have to drop the rebates??? So originally I was getting the car at 33,500 plus TT&L at 6.5%...now I could get the car but it would be 36,000 plus TT&L at 3.5??? They said the amount I would pay would be the same just pay up front or pay it in interest?

Need some advice on what to do? They did offer me a Deep Water Blue R/T classic with the sunroof has the only option at 30,500 and it would fit my banks terms for the 6.5...semms my payment some how was capped at 550.00?:(
Sit down with their finance guy, look him/her in the eye and ask why you can get financed at 3.5% but have to drop the rebates. That money's going somewhere... I'd call up GMAC financing and talk to them. Also, ALWAYS negotiate the price of the car, NEVER a monthly payment.

Is the payment the same? If so, you will have to decide if this deal is for you. If you are this close, you should get what you want and not settle but it may be with a different dealer. If you are over anxious, they have you. I would consider looking into a different dealer and go straight to their fleet sales dept. Don't talk to any floor salesmen - very important! Tell fleet what you want, when they find it offer them dealer invoice minus any rebates. If they offer you the same car from the previous dealership, it could be a problem (dealers don't like to do that to each other). Make sure the previous dealer knows you are done negotiating with them.

I've bought nearly all my cars this way, no haggling. Internet sales is normally through fleet sales, FYI, another good way to go. I paid under dealer invoice on my Challenger and my wife's Mustang going through fleet. Same with four other cars I've bought. Remember, financing is negotiable too. Other option is to get your financing pre-approved elsewhere for the max you can afford. You don't have to use it all and you don't have to fool around with the dealer's finance guy. I always get pre-approved before looking at cars (you don't have to use it if the dealer has a better offer). Hope this helps. Try the fleet sales thing, it works! A lot of people won't do it for some reason but it's easy!
 

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I know many times the rebates are only if you don't use the special financing, but that would be through Chrysler. IF GMAC is financing why would they not want you to have the rebates? Like someone else said that rebate is going somewhere. Seems shady to me.
 

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I know many times the rebates are only if you don't use the special financing, but that would be through Chrysler. IF GMAC is financing why would they not want you to have the rebates? Like someone else said that rebate is going somewhere. Seems shady to me.
GMAC bought Chrysler Financial, they still use Chrysler's name but it is GMAC..
 

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I will play Devil's advocate here. It could be that your credit score fell below the threshold number and the contract was rejected. It is arguable that the finance manager should have disclosed to you that you may not qualify but, on the other hand, maybe you looked better on paper than you actually are....:scratchhead:

I Work in the car business and I can assure you that it is in the best interest of the dealer to have contracts stick. Sometimes lending institutions kick contracts back.
 

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GMAC bought Chrysler Financial, they still use Chrysler's name but it is GMAC..
Aww, Now that you mention it I think I had heard about that. So I guess it makes sense then. Although the special financing on the Challengers is supposed to be 1.9%. So it sounds like there are some credit problems, if they are wanting to raise the rate.
 

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Discussion Starter #13
Well went to my bank today and asked if there was anything I could do to get the loan approved...ended up getting approved and got the car for $35,000 even out the door with no money down and a 5% interest rate:bigthumb:....now going to pick her up again tonight.
 

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I would consider looking into a different dealer and go straight to their fleet sales dept. Don't talk to any floor salesmen - very important!
Ditto and a half!!!

I got my Challenger from Bob Barton, Fleet Sales, at Larry H. Miller Dodge in Sandy, UT. It was the fastest, sweetest, most pain-free car buying experience I've ever had. I guarantee that any new car I ever buy will be bought through a fleet sales guy.

Merry Christmas, everyone!
 

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Ditto and a half!!!

I got my Challenger from Bob Barton, Fleet Sales, at Larry H. Miller Dodge in Sandy, UT. It was the fastest, sweetest, most pain-free car buying experience I've ever had. I guarantee that any new car I ever buy will be bought through a fleet sales guy.

Merry Christmas, everyone!

They have a guy in the parts dept that you need to get aquainted with. His name is Steve and he is a walking encyclopedia of Mopar Muscle. He has owned countless cool mopars and is a great resource in your very own backyard.
 

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They have a guy in the parts dept that you need to get aquainted with. His name is Steve and he is a walking encyclopedia of Mopar Muscle. He has owned countless cool mopars and is a great resource in your very own backyard.
Thanks, Dan. That's good to know. You're out here in Utah, I take it?
 

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Thanks, Dan. That's good to know. You're out here in Utah, I take it?
I'm a SLC native. I have been in New Mexico for about 20 years. I have known Steve for close to 30 years now.
 

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I can't believe anybody drives a car home from a dealership without all paperwork signed. What if someone hit you before signing? What is it was stolen? What if the dealer calls you back and says there's a...oh wait, that just happened. This is the second thread in a week where this happened. I also don't understand why people are buying a car like a challenger if they don't even have $3K to put down. Every spare penny you have should be put down to save you interest down the road. Furthermore, how is having to pay $35,000 a happy ending when you were only going to pay $33,500 originally? People should ALWAYS have financing lined up prior to visiting Dealerships, even if you decide to use a Dealer's offering. There are limitless websites explaining how to buy cars nowadays, I just don't get it.

Anyway sorry to rant, but do yourself, (OP), a big favor and pay that loan off as early as you possibly can,(by making extra principal payments up front), you will save thousands of dollars in the end, and enjoy your new ride.
 
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