Dealer Integrity

[BigRob]

When I purchased my H3 I was told by my dealer that the DVD / TV combo was $499. How much was this offer at your dealership/

I also was told that 6.75 was the best interest rate that was offered for the H3. Was anybody offered a better rate, reguardless of credit?

[BigRob]

When I purchased my H3 I was told by my dealer that the DVD / TV combo was $499. How much was this offer at your dealership/

I also was told that 6.75 was the best interest rate that was offered for the H3. Was anybody offered a better rate, reguardless of credit?

[StarsnBars]

I got 4.9 but it was thru a private bank. Try shopping around for rates before you settle on 6.75. Kinda high..

[HumbleAg]

The national promotion being run was a $1000 rebate on the $1499 DVD/TV combo. That would make the price $499. Some dealers were discounting it further, I've seen some at $299 (and some guys got it free).

6.75 is the current "buy rate" for the dealers. To get it any lower, they have to buy down the rate, something they are reluctant to do when vehicles are selling well.

One more thing to note, dealers are independent businessmen, they can do what the market in their area will bear. If a dealer in California is charging MSRP for the H3 and $499 for the dvd vs discounts at a dealer in Texas, that doesn't mean the CA dealer is "ripping off" the customer. They are just meeting the market demands.

By the way, I don't work for a dealer. I paid MSRP for my H3 and the rate at the time was 8.75%. I didn't get offered a discounted DVD/TV either. Was it worth it?

YES!

[TNTH3]

Our rate was quoted by the dealer at 6.75 also. They said that was the best they could do. Sucks when others are getting 0%/72 months. But they are not driving Hummers either. DVD system was free from dealer promotion over Xmas holiday. We are refinancing with a credit union at 5.5% Most will refinance new vehicle rates within the first 90 days.

BigBob,

As long as there is no prepayment penalty, you can refi it later with your local credit union. But why not get the loan pre-approved at the credit union in advance of the purchase.

Interest rate with excellent credit should be low 5's (that's what it's running in Califoria) and credit rating does matter.

S.

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by HumbleAg:
The national promotion being run was a $1000 rebate on the $1499 DVD/TV combo. That would make the price $499. Some dealers were discounting it further, I've seen some at $299 (and some guys got it free).

6.75 is the current "buy rate" for the dealers. To get it any lower, they have to buy down the rate, something they are reluctant to do when vehicles are selling well.

One more thing to note, dealers are independent businessmen, they can do what the market in their area will bear. If a dealer in California is charging MSRP for the H3 and $499 for the dvd vs discounts at a dealer in Texas, that doesn't mean the CA dealer is "ripping off" the customer. They are just meeting the market demands.

By the way, I don't work for a dealer. I paid MSRP for my H3 and the rate at the time was 8.75%. I didn't get offered a discounted DVD/TV either. Was it worth it?

YES! </div></BLOCKQUOTE>

Consider working on a refi, so you can pay less interest and lower your monthly payment. I agree the H3 is worth it!

S.

[The Green Lantern]

My Bank they quoted me 5% for 5 years and 5.5% for 6 six years.

[CUZICAN]

This might make some of you feel better about your rates. Because of my bad credit during college and this is the first car I bought I got 9% interest and there was no discount on the dvd when I bought. Would I pick the H3 again, you bet your asss I would!

[JV1]

4.65% from my local credit union..... If you have good credit the dealer should be able to give you better than 6.75% but only through a private bank.

[BigRob]

I have excellent credit. Thats why I was wondering about the 6.75%. I will have to check with the local banks on the financing.

I got them to throw in the DVD/TV combo as well ($499). I was just wondering what other dealerships were asking since I had seen $299 on the boards multiple times.

[HoKC]

The confusion on that is because they changed the program midway through. It was 1499 for the DVD's with a rebate of 1000 at first then they changed the rebate to 1200, hence the original 499 and then 299.

[Grandman]

We just bought ours at the end of Dec . 299 for the dvd offer .

I use a line of credit for financing but i know as of today prime rate is 7.5% how you guys getting a loan below prime is beyond me .

[Waxing]

I bought mine in July and paid exactly what was on the sticker at 6.75% interest. Dealer didn't mention anything about DVD. I am completely satisfied.

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Grandman:
We just bought ours at the end of Dec . 299 for the dvd offer .

I use a line of credit for financing but i know as of today prime rate is 7.5% how you guys getting a loan below prime is beyond me . </div></BLOCKQUOTE>

Easy to get auto loans for under prime with a good credit score (around 700+). Prime is just a baseline interest rate generally geared to businesses. Prime does not mean best available interest rate.

S.

[RubHer Yellow Ducky]

In the South Florida area the DVD pkg is running as low as $299 to the highest I've seen of $599.

I am purchasing the H-3 at $450 over FACTORY INVOICE (no dealer accessories) plus tax, title & tag. [ i am working at going lower then $450 ]

SOMETHING ALL OF U MUST KNOW !!!
GM gives Hummer dealers a 3 % rebate of the LIST PRICE of the total MSRP of the factory truck. DO NOT COUNT dealer installed accessories. So if a dealer sells you a H-3 that list at (example) $36000.00) he/she will get $1080.00 back from GM. Now the longer it sits in a dealer inventer the lower the rebate which is called HOLDBACK. For additional info in depth do a google search of GM Holdbacks. It varies by brand etc ... The end result is if a dealer sells you a truck at factory invoice they still make money. One other thing is NEVER pay anything called ADP or ADM or ADC which stands for ADDITIONAL DEALER (Profit or Markup or Charges) Just because it is preprinted on the sales contract it can be scratched off.

Also if you have to travel 100 or 200 or 500 miles to save several hundred or even thousands of dollors do so. Travel is cheap, a cheap motel room is cheap and if you buy out of your area your local dealer MUST still service the factory warrentied items of your truck

Good luck and I hope this adds to your knowledge base.

Remember the extra money saved is better in your pocked in stead of the dealers. AND don't let them tell you they need more profit to operate. They are very happy to make 3 to 4 % in profit just from the sale. Supermarkets live well in that profit range

RYD

[aggiehummer...er]

A previous poster was right. They initially released the DVD package at $499, utilizing a factory rebate of $1000. They then decided to make the program a little better, and made the option $299, utilizing a factory rebate of $1,200.

A car dealership is run entirely differently than a supermarket, inventory turns differently, floorplan expenses are calculated differently, and it's not like anyone will go into a grocery store and demand to buy some oatmeal at not a penny more than the grocer paid for it. I have yet to see a car deal go through like a supermarket transaction.

Dealers will try to make money (legitimate or not) any way they can. Some choose to operate ethically, others choose a different method. But these dealers did not earn the Hummer franchise because they give cars away. Especially not with GM requiring every Hummer dealer to have a "Hummer Image Facility" including an operational test track. It takes money for these things, also for the loan cars we all enjoy. I'm not trying to justify the actions of dealers who rip people off, but there's no way most Hummer dealers could survive and provide good customer service only making holdback on every vehicle.

But what do I know, I'm a freeloader and work for a "stealership" like Mr. Ducky is talking about.

[HumbleAg]

Good post Aggie.

From a non-dealer perspective, RYD makes a few good points as well. However, his comments (which can be found on many car-buying advice websites) hold true for the really high volume commodity stores, not necessarily for Hummer. GM expects more out of Hummer dealers and somebody has to pay for that. If the store is run on supermarket margins, they won't be a Hummer store for long.

As for travelling to save thousands of dollars, yes that seems to make sense. However, if it hundreds, then you need to weigh the benefits of dealing with someone local. Yes, they have to service any warranty items on your car. But, they don't have to make it easy to schedule a visit, they don't have to give you a loaner or a courtesy ride, they don't have to invite you to their Hummer happenings, etc.

I'm not against getting a good deal, but I hope that Hummer never becomes like the large high-volume makes. That would do away with the exclusiviness that I like and eventually erode the quality of service.

[Grandman]

aggie not all Hummer dealers has a test track .

Al Serra Grand blanc Mi does not have one .

The image building you speak of , well i find that pretty interesting building they put up . rustic in design and unique . Im not sure if there all the same at each dealer or not .

[RubHer Yellow Ducky]

Aggie & of course Big Rob who has the original question, FREELOADER & STEALERSHIP & MR DUCKY don't do much for your image. When I wrote my piece it was to inform Rob and other people about HOLDBACKS. Most don't know about them (not all) and the information makes them a better consumer. I NEVER even implyed that any dealer was crooked or whatever words you would want to use. Non productive name calling belittles this fine site.
IF I came on to strong them I apoligize... Even though I am new to the forum, only since early Dec I have found it VERY HELPFUL for me, the new and novice, except I am not new and a novice in business. You are right about each business is a entity upon its self and must determine its porfit margin to operate, BUT Each family is its own also and must put its money to the best use and get the most for its money, hense I'll quote from a sucessful business here in South Florida: A KNOWLEDGABLE CONSUMER IS MY BEST CUSTOMER...
I do enjoy bantering in jest but name calling direct or implied is bad for all of us.
Thank you all for listening to me...

RYD