Can Dealers work with you on lease/finance rates?

[JfuckinC]

Never bought a new vehicle, literally clueless.

Can they work with you on these rates? i know they can for loyalty and whatever, but what about new customers?

any input appreciated.

[you&me]

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Never bought a new vehicle, literally clueless.

Can they work with you on these rates? i know they can for loyalty and whatever, but what about new customers?

any input appreciated.

Depends on the dealership and the rates.

Most new dealership finance is through the manufacturer's finance arm, i.e. Ford Credit. In that case, the rate is typically set by the finance company and the dealership usually has no control over it. The good news however, is these rates are generally supplemented by the fin co and lower than you'd otherwise be able to get elsewhere (i.e. .9% for 36 months, or whatever).

In the case of third-party finance (Carfinco, etc) and / or used cars, the dealership will typically mark up a base rate by a point or two, add a monthly admin fee, doc fee, loan setup fee, etc... All of that is negotiable to some degree.

So, depends on what you're looking at (new / used), where (franchise dealer, or used car lot), and what finance product...

[JfuckinC]

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Depends on the dealership and the rates.

Most new dealership finance is through the manufacturer's finance arm, i.e. Ford Credit. In that case, the rate is typically set by the finance company and the dealership usually has no control over it.

In the case of used cars or third-party finance (Carfinco, etc), the dealership will typically mark up a base rate by a point or two, add a monthly admin fee, doc fee, loan setup fee, etc... All of that is negotiable to some degree.

So, depends on what you're looking at (new / used), where (franchise dealer, or used car lot), and what finance product...

Dodge for now.

I can get a good rate on a Tundra, they're willing to play ball because of loyalty, but i like the dodge better.

Both would be New leased via my company.

[you&me]

In that case, probably not much you can do about the rate... Your best bet is to negotiate the best deal you can on the price of the vehicle and other add-ons, or wait until the manufacturer (Chrysler) has a rate promotion. Promotions change monthly, so if the rate is nothing special now, that could change come August 1.

Edit - according to the Ram.ca site, they're currently offering a loyalty discount and rate reduction promo...

[lilmira]

I don't think the dealership has any say for even loyalty discount. I believe the mothership will ask for proof of eligibility for loyalty program. It's not like the dealership can hand out manufacturer's loyalty discount to whoever they wish. Dealership can have their own loyalty program of course, they can do whatever they want with that.

[JfuckinC]

Fair enough, i didn't know if it was one of those things you could negotiate!

I guess I'm just understanding/realizing, no matter how they structure it, unless you do a cash deal, they're getting their money they want hahaha.

[Clever]

When I bought my first truck in 2016 Chrysler had a zero percent financing promo. The dealership I was dealing with in Calgary told me that I could not qualify for it after doing a credit check, which I thought was BS since I knew I have great credit but they gave me a rate of 3.XX%. There were other fishy things that happened so I talked to a dealership in St. Albert that my bro in law recommended and sure enough they got me the zero percent and better truck than what was offered to me at the dealer here. When I told the dealership in Calgary I was going somewhere else they they said they will match everything, but because of all the interest BS among other things they tried to pull, I went with the dealership in St. Albert.

I’m not sure if it works in your situation but I thought I’d mention it.

[Darkane]

Short - yes.
When I bought my GTR in 2013, I was in the Finance office. He said okay here's the term and 5.xx. I said no, come on I made the deal to finance the maximum amount for you guys to get a kickback (Paid cash the next month).

So they tilted the screen toward me, and used the dropdown box for 3.xx. It's for real.

Anyway, I got free carcover, service, and another 1,000 off and only had one month worth of interest at 3.xx. Cool story?

[ExtraSlow]

always get two or three quotes from dealerships in your city and OUT of your city. Dealerships are scumbags and you MUST distrust them.

[Xtrema]

Multiple Security Deposits may reduce rates in some cases.

Loyalty requires you to be active customer with financing arm. But there is some leeway on qualification.