New purchase finance question

    Okay, dealer & I have worked out a price, and I've got dibs on a 2019 SLR. "Sure, the sales guy says, we can finance it for you!"
    I tell him another dealer offered me 4.99%
    "Oh no," he says, "that rate's just for unsold 2018 models... best I can give you is 7.99% on a 2019."
    I know manufacturers sometimes offer special rates to clear out old stock, but jumping me from 5 to 8% seems abusive.
    I've got excellent credit by the way (low 800's).
    Anyone give me some insight here?

    The smarter you get, the funnier I am.

    I am sure the difference in the rate is reflected in the price.
    Just compare the total final payment
    Down payment + Principle + interest at the end of the loan
    Forget all the smoke and mirrors all you care about is total out of pocket costs at the end of the loan That is the number that really matters.

    The more people I meet

    The more I love my Dog!

    This is an old story from years ago. At one time the dealers interest was 3% minimum to 12%. The dealer got to keep anything above 3 % Figure out what the rates are now.

    Go online, shop your loan, find what you want and walk to the dealer with it. Tell them you have a loan already and if they want to beat it knock yourself out

    We’ll get there when we get there and not a minute before. 😎

    I see adds on FB all the time for 2.99 the same as I did with mine. hmmmmm


    I went back and searched it is for 2018 :(


    *As Low As 2.99% APR for 60 Months Legal:



    This
    is a limited time offer which is valid for the purchase of selected
    qualifying models and is subject to credit approval on qualified
    purchases financed during this program. Offer may not be combined with
    certain other offers, is subject to change and may be extended or
    terminated without further notice. Offer available through Synchrony
    Financial, Sheffield Financing, or Performance Finance and valid on new
    2018 Slingshot models. Monthly payment and cost of borrowing will vary
    depending on amount borrowed and down payment/trade. Minimum amount to
    finance is $5,000. Example for MY2018 Slingshot SL: $25,499 financed at
    2.99% APR over 60 months = 60 monthly payments of $458.07 with a cost of
    borrowing of $1,985.22 and a total obligation of $27,484.22. Monthly
    payment examples exclude tax, title & other fees. See participating
    retailers for complete details and conditions. Offer valid September 1 -
    September 30, 2018.

    By the time I save up for mods, I have to buy another rear tire :cursing:

    We have the same score as you. Low 800's. My plan was to buy the base model 2018, pay $12,000 down and finance $8,000 at our local credit union for 1.3% . Well, well, well. The night before we were going to dealer for the scheduled test drive Polaris sent me an email informing me I was approved for 2.99% with nothing down on any one we wanted. This was in April. Just so happened they had a demo there. Just so happened it was the SLR LE. The test drive was Saturday in Sunny weather. After $4,000 down, we brought it home the following Monday with it snowing. 7,000 miles later I don't regret it one bit and love it!!!

    2018 SLR LE
    Bullet Speed Top

    Hawk 5.0 Pads


    My girlfriend loves SS more than me but can't drive a manual laugh-squaredlaugh-squared Lucky me!!!

    Salesman gimmick tell you the low interest rate. Make the deal he comes back and because he set the hook he says he made a mistake, he tells you a higher interest rate thinking he has you already filleted. The extra money is dealer profit because they have a deal with the bank for a kickback. Bank wins dealer wins.

    Cars and homes are the last bastion of bartering and bargaining in America I think.
    My dad always said “you don’t know what you’re worth until you hear ‘em squeak”. If they don’t squeak, :thumbup: you left money on the table

    We’ll get there when we get there and not a minute before. 😎

    when I bought my 2016 the 2017s were already on the dealers lot, I went with the 2016 because they were offering .01% financing - cheapest vehicle loan I have ever managed to get.

    Cage Free - 2016 Pearl Red SL

    DDM Short Shifter, Sway Bar Mounts Coolant tank Master Cylinder Brace & CAI

    Twist Dynamics Sway Bar, JRI GT Coilovers, Assault Hood Vent

    OEM Double Bubble windshields & various other goodies

    I know this thread is way old; but.... get pre approval from your bank. The dealer makes money on financing and might want to beat that bank rate to get that part of your business.

    Get your own loan thru a credit union. My PENFED credit union gives me 2.5%. They write you a check for the full amount on the dealers name and you skip all the bullshit with the dealer. They make money off charging higher interest rates of you, they dont like cash paying customers nor customers that get their OWN financing.

    Quote from OrangeSlingFL

    Get your own loan thru a credit union. My PENFED credit union gives me 2.5%. They write you a check for the full amount on the dealers name and you skip all the bullshit with the dealer. They make money off charging higher interest rates of you, they dont like cash paying customers nor customers that get their OWN financing.

    .....absolutely right they hate cash paying customers, they tried to sell me insurance on the tires, paint etc......I told em just give me the damn toy , you won't see me no more and im not paying extra for nothing not even a warranty ......