How I have scored invoice pricing with 3.99% APR on my 370Z?

AK370Z

One of the first question on the loan app. "Do you know know the exact car you want"? When you say NO (that's what I did since I didn't have the VIN), it omits all the car info. You can proceed through the whole application process and have the check FEDEXed the next day. When you receive the check, you'll see empty boxes for Dealer to fill out (VIN no, amount etc). Just take the check to the dealer and they'll fill it out for you. They are aware of this kind of check. PenFed also includes a very easy to follow instructions.


BTW, I just paid my 1st payment. From the next payment, the amount will be deducted straight from my checking account so I don't have to worry about paying the bill on time. I also saw this on my bill:

PrePayments: If you pay off early, you will not have to pay a penalty.

There are many financial institution that charges extra fee if you want to pay off your loan early . But NOT PenFed! I will try to pay off as soon as possible without worrying about any penalty fee.

__________________
The370Z Signature Pictures ll Want to rock our forum decals on your car? Then click here! ll How to Embed YouTube Videos In a Post
STOP! (Hammertime) ll Become a Premium Member Click HERE ll F.A.Q.
Are You a Nissan Dealer? Click Here to Become A "Supporting Dealer" and Start Listing Your 370Zs In Our Inventory Section
My Monterey Blue Z ll My Exhaust --> My Intake --> G3
Nissan's Official Response Regarding Oil Temp Issue: CLICK HERE
Need a Set of Cheap Winter wheels /Tires? Then Visit The Banner Link Below and Place Your Order. You'll Help Keep The370Z Alive.

MD370Z

Great, thanks for the info (again)! I assume you do not have to use a Pen Fed checking/savings account to use the auto-debit feature?

AK370Z

Yup, you do not. But you can if you want. I just set the payment up with my own bank checking account.

__________________
The370Z Signature Pictures ll Want to rock our forum decals on your car? Then click here! ll How to Embed YouTube Videos In a Post
STOP! (Hammertime) ll Become a Premium Member Click HERE ll F.A.Q.
Are You a Nissan Dealer? Click Here to Become A "Supporting Dealer" and Start Listing Your 370Zs In Our Inventory Section
My Monterey Blue Z ll My Exhaust --> My Intake --> G3
Nissan's Official Response Regarding Oil Temp Issue: CLICK HERE
Need a Set of Cheap Winter wheels /Tires? Then Visit The Banner Link Below and Place Your Order. You'll Help Keep The370Z Alive.

MightyBobo

Subterfuge - the only way you could have closed out your post better is by saying, "Bickety bam, beotch"

subterfuge242

LOL . . . Indeed. Thanks guys, just trying to keep it interesting.

GT-R man

out of curiosity where do you guys think dealers make money? Like seriously if you guys can make any sense in what you say I will delete my account from this forum...

kustomZ

Kickbacks, rebates, financing, "undercar protection", extended warranties....shall I go on?

__________________

GT-R man

Might as well go on because you dont know the least about car dealers mr know it all... how can you say that dealers make money from kick backs which by the way are called hold back... which is money that a dealer does not see for another 3 months after you purchase, which is there to reward dealers for volume sales and its not much mayb 1-2% the value of the car which most cases they give that money away to make a lot of deals... rebates are you kiding me thats a joke... dealers making money on rebates haha.... in case you havent read anything anywhere, that money goes strickly to customers.... undercar protection? another funny one.. for someone that shops as hard as you do you buying under car protection is lame and hypocritical... If everyone would to read all of this posts on this forums and base this info for buying cars dealers would simply say no and good luck to all...

What kind of profit do you think dealers make when you buy a car??

$200-500

theDreamer

hahahahahahaahahahahahahahahahahahahaha

__________________
theDreamer's Z // Fast Intentions // Uprev // GTM // HKS // TEIN
theDreamer's Silvia // URAS // GREDDY
Houston Zs // Facebook // Twitter // Instagram

kustomZ

You asked a question, and I gave you an answer. How does that make me a know-it-all? Did I claim to know all the ins-and-outs of being a car salesman? NO

You say $2-500 on a sale? You may be right about a single sale in a week's time....I'm in the wholesale business, and I know how that shi* works. One customer beats us down so much, that we barely make a profit on a sale. Another 2 walk in, and they have a higher price point. They pay and move on. We get volume and profit sales, and they both add up to make us a multi-billion dollar business.

On top of selling cars, you guys sell all the little things, as well as service (mentioned above). Do you get customers that haggle you down, or come in demanding the bottom dollar? Sure, but you also get people that either don't care, or are too stupid to read between the lines....THAT'S how you make money. Now is that better, or do you have some kind of snappy comeback for that too?

__________________

IHas370Z?

It sounds like you hate your job and should seriously consider a career change. You wouldn't be this angry for no apparent reason, and going back to your first post, it all makes ZERO sense. Trying to put a dollar value on AK's downtime as if he'd be working is completely insane, not to mention guesstimating what he earns in the first place. He obviously has a passion for this car, look at all the time he puts in on this website -- how can you criticize him for taking a tiny percentage of that time to make sure he's being smart with his money? Seriously, change careers, cus this is obviously the wrong one for you.

*picks the perfect time to make first post*

theDreamer

I will answer your question seriously:
~Service department
~Extended warranties
~Rebates (Manufacturer give rebates, but dealership does not always have to extend to customer)
~Financing

Dealers usually get the car for about 3-4% below invoice, more with rebates from manufacturer, but of course this is on the average car which is currently about 23-25,000USD. Not really sure on premium cars (40+) or super cheap (<15), but dealerships will on average make more than 200USD on a car, probably 650 or more.

Then again, with the market in its decline and everyone looking to cut corners, we could see some prices slashed in hopes to bring in buyers. Which would cut "profit" for the dealership greatly as they just try to move inventory.

__________________
theDreamer's Z // Fast Intentions // Uprev // GTM // HKS // TEIN
theDreamer's Silvia // URAS // GREDDY
Houston Zs // Facebook // Twitter // Instagram

antennahead

This is very true. I used to have the dealer finance department under me in a prior career. They make very little money on the actual sale of the vehicle. Rebates bring in some, as most buyers know little of, or don't understand, "holdback". Next is "backend product", extended warranties being the biggie there. After that, financing is very large, the more the dealer can charge you interest rate wise above the "buy rate", the rate the financial intitution charges them, the more they make. Most buyers buy "monthly payment", not interest rate. Finally the service department. This is a major profit center for the dealership. Warranty work gets billed to the manufacturer. They sell cars to enable all the other profit centers. Don't get me wrong, they still make money on some sales, but that it not the priority.

John

NorCalZman

servicing. dont forget servicing. 90+ dollar oil changes and inspections can add up nicely.

__________________
1988 Nissan 300ZX Turbo SS : My Shiro Special site. Limited edition Z31 model.
Dyno 5-14-05: 175.17 HP @ 5200rpm & 200.36 Torque @ 3800rpm

GT-R man

90+ oil change and inspection what is your dealer using space shuttle fluids and refueling?

$29.99 oil and filter change with with 40point inspection+ free nitrogen refill if you are a previous customer....