How much off MSRP?
1 - 20 of 50 Posts
I had to pay the full MSRP. (I've never done that before) The dealerships were not willing to budge and there were no incentives from GM. I guess their attitude was if I wasn't willing to pay MSRP the next guy would. They couldn't/can't keep these cars on the lot. Once sales slow down then they'll start negotiating.
They always have a little leaway on what they have on the lot, rather than having to go get one, because they want to get you out the door today. So if you dont act too eager or explain youre just shopping and you dont need a new vehicle right now they can "make things happen". Maybe say youre thinking about buying in the near future right off the bat, so they have to earn your business TODAY, incentivize you to purchase right now.
I personally belong to a bank that has a no haggle price program that the dealer has upfornt agreed to not complain when I come in with a quote for a few hundred under invoice price. That saved me a couple thousand on my 2LT, because even the options were discounted. So, just play hard to get and walk away, or dont accept the trade in value, ect.. until you get at least the preferred pricing, which is between invoice and MSRP, about $1000 off. Preferred pricing is supposedly what they call the GM employee discount (yeah right, they are going to pay cost) but its also what several credit unions already have no hassle pricing agreements with. So if you belong to a credit union look online for the GM credit union discount program.
Either way I would never pay MSRP, mainly because I will buy a car before I really need it, for example the old one still works fine.
I also just said no about 5 times to the extended warranty, and the price came down from 1800 to 1200. I only got it because we will put 20,000 miles a year on it, so the bumper to bumper wouldn't even last 2 years, if we only did 12000 miles or less a year I wouldn't get the extended warranty, because it would take 3 warranty claims to get your money back if paying $1800. I also walked away from one dealership because the manager was a defensive yet intimidation type person, and there is no reason to deal with people like that. don't let them give you a run around about let me run the numbers again, or see if maybe we can give more for the trade in, ect...if you dont like something just say no, its a powerful tactic. Along the lines of not being eager I dont like sitting at someones desk, so whenever they get up to check something I walk around and let them come to me
They also think we are stupid and incapable of doing math. Dont get sold on a monthly payment, 6 year finiancing is a bad idea, and you end up paying too much for the vehicle over time, and then they try to sell you gap insurance because you will always owe more than the car is worth when you finance the taxes and registration with no money down and for 6 years. If youput down enough to cover taxes and get the loan under the invoice price it even lowers the interest rates you will qualify for.
My banks no haggle no hassle pricing makes it much easier though. Another thing though, if youre not actually able to buy or willing to buy if they do give a good offer then best just to say you have to be somewhere and leave before letting them go through the hassle, and just let the salesman call you if they have a sale or rebate pops up. No reason to offend them by doing all that nonsense haggling if youre not buying. Dont want to waste your own time too, so if they have your phone number they might call with better pricing, without you having to wait on them.
I personally belong to a bank that has a no haggle price program that the dealer has upfornt agreed to not complain when I come in with a quote for a few hundred under invoice price. That saved me a couple thousand on my 2LT, because even the options were discounted. So, just play hard to get and walk away, or dont accept the trade in value, ect.. until you get at least the preferred pricing, which is between invoice and MSRP, about $1000 off. Preferred pricing is supposedly what they call the GM employee discount (yeah right, they are going to pay cost) but its also what several credit unions already have no hassle pricing agreements with. So if you belong to a credit union look online for the GM credit union discount program.
Either way I would never pay MSRP, mainly because I will buy a car before I really need it, for example the old one still works fine.
I also just said no about 5 times to the extended warranty, and the price came down from 1800 to 1200. I only got it because we will put 20,000 miles a year on it, so the bumper to bumper wouldn't even last 2 years, if we only did 12000 miles or less a year I wouldn't get the extended warranty, because it would take 3 warranty claims to get your money back if paying $1800. I also walked away from one dealership because the manager was a defensive yet intimidation type person, and there is no reason to deal with people like that. don't let them give you a run around about let me run the numbers again, or see if maybe we can give more for the trade in, ect...if you dont like something just say no, its a powerful tactic. Along the lines of not being eager I dont like sitting at someones desk, so whenever they get up to check something I walk around and let them come to me
They also think we are stupid and incapable of doing math. Dont get sold on a monthly payment, 6 year finiancing is a bad idea, and you end up paying too much for the vehicle over time, and then they try to sell you gap insurance because you will always owe more than the car is worth when you finance the taxes and registration with no money down and for 6 years. If youput down enough to cover taxes and get the loan under the invoice price it even lowers the interest rates you will qualify for.My banks no haggle no hassle pricing makes it much easier though. Another thing though, if youre not actually able to buy or willing to buy if they do give a good offer then best just to say you have to be somewhere and leave before letting them go through the hassle, and just let the salesman call you if they have a sale or rebate pops up. No reason to offend them by doing all that nonsense haggling if youre not buying. Dont want to waste your own time too, so if they have your phone number they might call with better pricing, without you having to wait on them.
Wait for a promo. GM runs the $1000 Customer Loyalty rebate every January it seems (I got that). Or around Christmas time maybe they'll do that $1500 rebate deal with the financing again. That's even better than the Loyalty because you get the extra $500 and you can pay the loan off right away.
As for me, I got $1300 off MSRP for a dealer discount, plus the $1000 Loyalty for a total of $2300 of MSRP. Then I had the $4200 in GM "points" for a grand total discount of $6500. Without the $4200 in GM points, there's no way I buy this vehicle...
As for me, I got $1300 off MSRP for a dealer discount, plus the $1000 Loyalty for a total of $2300 of MSRP. Then I had the $4200 in GM "points" for a grand total discount of $6500. Without the $4200 in GM points, there's no way I buy this vehicle...
Joined
·
194 Posts
My dealer had the sticker at -$1000 Then they took 3000 off that and I had a GM private offer for another 3000... So $7000 off
I would've had the $7000 off, too, if I would've bought at Christmas during that $1500 "Giving Back" promo. But nobody wanted to let me look at the contract fine print. I was trying to make sure I could pay off the loan right away without a pre-payment penalty. Eventually enough people are going to pre-pay their loans that the "penalty" language will make its way into these contracts and someone will end up getting burned by it.
Wait until the newness of the car wears off. Dealer's charge MSRP + to the early people who want the car. Once the inventory builds up, the dealers will want to move their inventory. The min I'd want is 10% off the MSRP. When taxes and tags are added back, you approaching MSRP again. For me $23K-$32K is too much for a Chevrolet Equinox, but I'm a cheap SOB. :-\
If you have a GM master card, that will also give you a discount and periodically the GM card will increase your discount to get you to buy a car. With the state of the US economy today, I'd be worried about the loan rates and whether GM (government Motors) will still be around.
If you have a GM master card, that will also give you a discount and periodically the GM card will increase your discount to get you to buy a car. With the state of the US economy today, I'd be worried about the loan rates and whether GM (government Motors) will still be around.
If you have a GM master card, that will also give you a discount and periodically the GM card will increase your discount to get you to buy a car. With the state of the US economy today, I'd be worried about the loan rates and whether GM (government Motors) will still be around.
[/quote]
There's definitely a 'magic number' for this. If you've got $1000 or $1500 in 'points', they'll bump your number up another $500, maybe even $1000. But once you've accrued 'points' somewhere into the $2000 range, they don't give you the bump anymore.
[/quote]
There's definitely a 'magic number' for this. If you've got $1000 or $1500 in 'points', they'll bump your number up another $500, maybe even $1000. But once you've accrued 'points' somewhere into the $2000 range, they don't give you the bump anymore.
On my stpuid GM flexible earnings card they limited the redemption value to only $1000 towards an Equinox, $2000 for a Corvette I think. Then they had a Bonus earnings offer of $1000 on Equinox level vehicles, so it brought me to $2000. I actually already had $2000 in potential earnings, but they limited my use of them to $1000. I cashed out the rest at a rate of 1% and canceled the card after my purchase. It was 3% earnings towards a new GM vehicle or 1% cash back, so I traded $1000 of value of another GM vehilce for a $300 check, because they also only mail multiples of $100s. Any way to get you, they will.
Joined
·
161 Posts
I am sure you understand, but I do not follow your math. How did $1000 of earnings turn into $300.2011LT2 said:
Also, I like my card as it has given much back to me.
I can see that. I had $2000 worth of "earnings towards a GM vehicle" which was 3% of my purchases. However GM only allows you to redeem up to $1000 of those earnings towards an Equinox or other cars under $30k basically. So I used a $1000 towards my Equinox and had $1000 left of "earnings towards a GM vehicle". However, if you dont use it towards a new GM vehicle its only worth 1% for "cash back". So the $1000 at 3% is only $333 at 1%, and since they only allow multiples of 100 I got a $300 check.Terrain2011 said:
So to summarize, 3% of $33,333 is $1000, but 1% is only $300 from HSBC credit cards.
The other $1000 I got off the vehicle was a special GM Flex card promotion of Bonus earnings.
I have the old style GM card collect up to $500/year (5%) for up to seven years and then GM will boost the amount. It doesn't matter what type of GM car I can use it on. The big down side was that I rack up the balance, then HSBC boosted the interest rate to 13%, :thumbdown: so I've stopped using it and am paying the balance off. I think I have like $1700 it for a GM card.
I've got the old card, too. If you remember, when the "Gold" card FIRST came out, it was TWICE as good as it is now: $1000 per year, 7 years, $7000 max toward a new car. I had accrued $4000 toward (what became) my '02 Impala when GM pulled the plug on that program (cutting it back to $500 per year, 7 years, $3500 max toward purchase). Running almost concurrently with GM's $1k/7 yr/$7000 program was a Citibank program for a new Ford vehicle. THAT program was $700 per year, 5 years, $3500 max. So you could accrue the same amount as GM's NON-Gold card program (which eventually became their ONLY program) in 5 years versus GM's 7. However, only about 3 years into the Ford/Citibank program, Ford pulled out and the card got reduced to only a 2% rebate (but now applicable to ANY car purchase). This card became known as the "Driver's Edge" card (which still exists today, although in possibly a slightly different form than its original offer). GM meanwhile not only cut back the benefits on their program, but they introduced a new card called the "New GM Card". In this offer they emphasized "Unlimited Earnings", "No Cap on the total rebates you could accrue", etc ... but the dirty little secret was that if you switched over to this new program you could NEVER GO BACK to the old program, and even worse - GM would now tell you how many rebate dollars you could use to purchase your next car (a number that would vary depending on model). It became known as the "Redemption Allowances Program". For those who fell for the pitch and switched programs, I would think that most of these people are done with GM. For those who came along AFTER the new program was already in place, well ... my advice is to know what the Redemption amount is for the vehicle you're interested in purchasing and then only charge enough to reach that number (then hope you get a bonus or bump in points before you make your purchase). The Redemption Program is still better than nothing - which is what every other manufacturer effectively offers (except Suburu, which has a 3% program, but only for 4 years and a $2000 cap ... better than most).
Colt Hero -
Perfect summary of the program. That's exactly as I recall it. I am an original member, and they wanted me to switch programs, but luckily, I resisted also. Quite frankly, the progam keeps me as a GM customer - although I do like the Equinox, I probably would not have considered it without the $4000 "incentive" from my GM Card.
Perfect summary of the program. That's exactly as I recall it. I am an original member, and they wanted me to switch programs, but luckily, I resisted also. Quite frankly, the progam keeps me as a GM customer - although I do like the Equinox, I probably would not have considered it without the $4000 "incentive" from my GM Card.
Re: Re: How much off MSRP?
I seem to recall that they can be transferred to a relative outside the household also with the old card. I offered them to my daughter, but GM products weren't safe enough for her - she bought a Volvo. :banghead:SlayerX11 said:
1 - 20 of 50 Posts
