Crazy Finance Rate on Used 2500.

[PoMansRam]

Why does it seem the warmer the climate, the shadier the dealers are! LOL! Like said, if in doubt, a call to your local credit union or bank would set the record straight on that instantly.

Not to say rust belt dealers don't do shady crap. When I bought my 2017 Ram 1500 used from a small Buick/GMC dealer, I told them I can get 2.47% for up to 72mo with my local credit union. If they could meet or beat that rate, I'd let them set up the financing. They say it shouldn't be a problem. On delivery day, they had it set up at 3.99% through a local bank. Thank God I called the dealer first. I said that's not happening. They said, no problem. Just sign the papers, then refinance later at your rate when you can. I again said that's not happening. Ran to my credit union, it took 15min to setup my loan and have a check in hand to take to the dealer to buy the truck with.

Even after that, I still had to sit through the finance chick's aftermarket extended warranty sale's pitch.. For a measly $3K+. Yeah..No.

 

[mdricko]

The finance guy couldn't understand why i didn't want the fantastic warranty they were offering to add into the loan for me. I did a quick calculation and said it wasn't worth the price. The FULL price after financing. He tried to argue with me about how much it cost. I told him the answer was no and if he asked again i was walking, he was not a happy camper. didn't say another word to me.

 

[PoMansRam]

The finance guy couldn't understand why i didn't want the fantastic warranty they were offering to add into the loan for me. I did a quick calculation and said it wasn't worth the price. The FULL price after financing. He tried to argue with me about how much it cost. I told him the answer was no and if he asked again i was walking, he was not a happy camper. didn't say another word to me.

Oh yeah.. Been there so many times over the past ~15yrs, or whenever they started pushing these for profit. "I'm really disappointed you're not taking this".. "I don't understand why you wouldn't want this".. "Please.. Explain to me again WHY you don't want this.."

The only time I had them drop the price of an extended warranty to about the 1/3 the cost of the original quote was when I was in the process of buying a base model 2015 Camry for my 77yr/old mom. Still didn't bite.

 

[Trtlvr]

I know I love the warranty pitch. Last guy when I bought my daughter her Honda. You sure don’t want the extended warranty? No it’s a Honda what could go wrong? Well we have one in the shop with a bad computer and it’s 3k for a new one which was out of warranty. My response. Man if you guys are having that kind of problems I guess I shouldn’t purchase one then.. The look on his face “priceless”.

 

[PNW-Ram]

You in Californication? There you have a truck you have a "commercial" vehicle according to the DMV. I left Socal because of all the Tax and regulations.

Every truck in California is "commercial". It doesn't change the financing at all.

 

[MegaRam18]

Every truck in California is "commercial". It doesn't change the financing at all.

True dat.

Sent from my SM-G935V using Tapatalk

 

[MN-Ram]

I fananced my brand new Ram 3500 at the dealership for 3.75% back 2015. I then brought my loan over to my credit union after the 120 day period at 3%.

It sounds like that salesman/finance manager is full of crap. You were right to walk away.

 

[Abell34]

I just bought a new 18 2500 and they came back with 6.8%. The day before i bouhht my wife a new crv at 4.2 through honda financial. I wanted that specific truck and i needed it within 2 days of a trip so i signed it knowing i can refinance with my local bank. Stopped in the next day at my local bank and they said 4.5 wouldnt be a problem without even checking credit scores so im gonna make 2 or 3 payments and refinance it. I know ill lose a little money in the first few payments but the deal worked for me at the time and i know a refinance is in the near future. Ive heard dealers will sometimes upsell the rates to make an extra buck say they approve you for 5 theyll tell you its 6 and pocket the extra.

 

[billa9b0ng]

This thread is a great reminder to all to research financing before going to the dealership. You spend hours debating 6.4 vs CTD but the overpay hundreds in interest. Two credit unions I belong to are offering 2.49% for 60 months right now.

 

[JLord]

I purchased my 2500 this august and best rate I could get was 4% on a used vehicle and I have over a 720 credit score. I checked with USAA and local credit unions but I also needed a 6 OR 7 year loan not a 5 year. Had I gone with a 5 year it would have been 3%.

 

[Paul Otero]

Not in Montana. My 2500 2018 i got 2.99%
Always used vehicles interests rate are higher.

 

[DodgeDude99]

I had gotten 2.15% for 60 in ‘14 on my ‘14 2500.

 

[Guy lIPSKY]

I would take that rate and run very nice when i got mine dealer said oh you have a score over 800 can get you very low rate 8.4% after the papers where signed so i refinanced at 2.8 the next week

 

[Abell34]

I may have to visit a credit union id love a below 4% rate. Credits over 700 so id think i could get something close to 4.

 

[50BMG]

I just got 2.94% for 48MO. through AAA Bank on the used 2016 I have yet to pick up. I think you might have to be a AAA member though? Not sure...
I have decent credit (for some reason? LoL...).

 

[WilliamS]

The important part to what everyone else is missing is the truck itself? Whats the GVRW on that monster? Where most half and 3/4 ton trucks arent really affected by, that mega cab might be getting caught inside of an over weight class many banks do not finance period. On my side of the spectrum the F-450 is a truck that only 3 banks here in Florida will consider and 2 of them are not great rates by any means.

What is the truck exactly and where in Florida are you?

 

[marks146]

So I was going to pull the trigger today on a 2017 Ram Mega Cab Certified Preowned. We get everything done then it cam down to financing. My credit is excellent and I have a great job. He came back with 6.8% which I was shocked. The finance manager told me that it being classified as a HD truck you can only finance with a commercial loan. Which is a higher rate. Anyone heard of this? Needless to say I walked as they were scrambling to seal the deal. I know rates have increased but I just bought my daughter a car about 4 months ago and it was 2.2% on a used car loan. Is this for real or just a FL thing? Thanks for everyone’s help on this.

I'm calling BS on the dealer. Go to a bank or a credit union on your own. Sounds like they want to pad their kickback.

 

[phreak480]

This is why I tell folks to always get their own financing pre approved before going to work a deal. Don't tell the dealer this though, let them work all the number and give you a price. Then hit the finance guy with the "i have my own financing arranged" and make them work to give you a better deal for financing through them.

 

[Blew]

You in Californication? There you have a truck you have a "commercial" vehicle according to the DMV. I left Socal because of all the Tax and regulations.

Sure you "left" because you did not like your rig being considered a "commercial" vehicle. My 07 2500 diesel is rated as "commercial" in Missouri which basically means I do not have to endure the annual inspection lighter trucks must endure. Could you explain how your rating in Ca. caused you problems? Just wondering what effect this has on Ca. owners.