Costco auto purchase program?

[Diamondback]

Probably more like 35k with our 10% sales tax and various WA fees, but good to have a ballpark. Thanks.

 

[nammac]

Bumping with a quickie, need advice before Saturday.

My aunt's got her heart set on a certain Equinox she wants to buy Saturday morning, with an 860 credit score on a 39210 list with a 5k rebate and 9k down they're quoting 84 months at $398-410/mo with 7.99% APR. This seems a rather high APR if I'm recalling right that she's an 860 which is like Best Possible credit... I'm not gonna name dealership on an open forum, that'll have to be by DM.

Chevy is offering 0% for 72 months...

39,210 -14,000 = 25,210 / 72 = 350.13 month, what am I missing here?

The other alternative, go credit union, should be able to do 84 months for 2.99-3.99%...

 

[Diamondback]

Sales tax, $700 "government fees"... WA loves its taxes and fees.

 

[Oregonhunter5]

Screw Costco.....

 

[HaveGun]

Screw Costco.....

Yeah, I almost forgot about their mask policy. Still haven't been there since that nonsense was announced.

 

[elsie]

Bumping with a quickie, need advice before Saturday.

My aunt's got her heart set on a certain Equinox she wants to buy Saturday morning, with an 860 credit score on a 39210 list with a 5k rebate and 9k down they're quoting 84 months at $398-410/mo with 7.99% APR. This seems a rather high APR if I'm recalling right that she's an 860 which is like Best Possible credit... I'm not gonna name dealership on an open forum, that'll have to be by DM.

Couple of years ago I picked up a new Forester. Went with Costco member price and the dealer financing with ended up to be Subaru/Chase and I had over 800 credit score. According to my statement, my interest rate is 1.90% (whether that's APR or some other weird thing I'm not sure - it's not specified there)


elsie

 

[nammac]

Another tactic is to deal with the fleet manager, typically can do better price wise. Did an Arcadia in 2017, to the tune of 10k off msrp... Always worth a shot, considering you know which unit you want...

 

[Diamondback]

So, while I was out this morning I swung by an old childhood friend's collision shop... his take was the 7.99%/60 months I saw was a baseline "comes on the form, not adjusted to individual sale." For a finance amount of 27600, 410/mo works out as a total of 34440, a total of 24.78% interest. Taking the seventh root of that assuming simple annual compounding works out to 3.2%, which from what you guys have said sounds pretty good.

Also, I went actively LOOKING for complaints about this particular salesman, and everything I found was positive, so I'm feeling a little more comfortable that I've done what I could as the "voice of caution." Bear in mind, I post this as a dude whose own first time driving was just two days ago and a whole ten feet... LOL (Just enough to get the driver's door past the tailgate of an F250 parked right on top of us.)

 

[Trask55]

I bought a new F350 last year entirely via phone calls and emails and only went to the dealership for a test drive, to sign paperwork and give them the check. Don't think I was at the dealership more than an hour. Nailed down the price with the dealer then went to a local credit union for 2.99% 60 month financing with no down payment or trade in. I recently asked the credit union if they would lower my interest rate because of dropping interest rates which they did and am now at 1.99%. I did look at the Costco program but was convinced I could easily do much better myself. I ended up buying in Idaho and according to a local Ford sales manger I was also working with the price I got was less than what the local manager said he could buy the same truck for. I even had another dealer tell me that there was no way I could buy the vehicle I bought for the price I got and demanded to know who the dealer was.

Bottom line is to shop for your best interest rate first. I put as much time and effort into finding the best interest rate as I did on the truck deal. I did not have an account with the credit union I used but was able to secure a loan and walk out with the check in about 30 minutes. A couple emails and phone calls greased the skids for the quick turn around at the credit union and dealer. Don't restrict your search to local dealers and go to the manufactures website to find all the dealers in your state and neighboring states and check prices online at them all. The best deals are going to be for on the lot vehicles and dealers with larger inventory tend to have better pricing.

Your time spent will save you many many thousands of dollars.

 

[Lazyfaire]

Hahahaha
Just think If we tried that with a HVAC guy when it's 110 outside.

If its 110 outside you probably wont get an appointment in the next 2 weeks!

 

[Lazyfaire]

Brokers are the way to go. You tell them what you want on the car, color, accessories, etc. They find the car and the price is much lower than a dealer. No lot, no overhead, no salespeople to deal with. They are a great option. No dealer will tell you about them.