"Under Invoice" Dealers Question

[dabomb4097]

Hey all! I've been looking into the dealers recommended on here for the "under invoice" on special orders, and had a question about the experience that a lot of people haven't mentioned yet...financing. Of course I don't have $40k cash burning a hole in my pocket, so like most folks I'd like to finance my new truck.

How did folks that bought from Granger, et al finance their trucks? Did you bring your own financing? Did you finance through the dealer? I've got excellent credit and I'm used to getting sub-3% financing from dealers in the past. Given the current market, the guaranteed under-invoice pricing from these few dealers could sound a little "too good to be true" and I just wanted to hear specifically their customer's experience in the finance office.

As everyone knows, a dealer has to make money somewhere. If they're selling special orders to so many out of state customers they're surely not making it up in the service department, so I'm kind of half expecting to be taken for a ride on the financing from what I'm used to so they can make all their money on the back end. I don't want to go through the process of ordering and waiting only to get to the finance office and have 8% at 84 months be "the best they can do" and have to walk.

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[VegasRanger]

I always bring my own financing from my credit union. They always beat dealership rates. Only time i've used dealership financing is when I bought vehicles at 0 percent interest when they have those deals.

 

[TBR17]

Agree with getting your own financing at a rate you are happy with. When I purchased my ‘21 the dealer was able to beat my already great credit union rate with a competing credit union by nearly .75.

 

[Aonarch]

To get a better deal you can always finance with the dealer, then refinance it after the purchase.

That way they think that they will at least make money off of you in the finance office, since they gave such a large discount off the vehicle.

I just did this and acted nonchalant about financing, but played hard ball about the OTD price. I was able to get a very steep discount off my 21 Tremor, but they hit me with 4.99% APR. LOOOOLLLL I have 800s credit score.

So I smiled and grinned like an idiot taking my super low OTD price and refinanced it a week later.

The dealer will get their finance profit clawed back, but that is business and their fault for trying to F me with such a high rate.

You don't get an extra hard pull on your credit for the refi as long as you do it within 14 days?

OR

The straightforward and honest way:

Just tell them that you have your own financing. They can try to beat it if they like, but be very transparent and open about it.

Each bank has different processes, but most are probably straight forward.

My bank either gives you a check to hand over, or has the dealer fax over a Dealer Funding Request.

 

[ScottyT]

My plan is to go in with an approved rate. Apply a few days before taking delivery and see what they can do to beat the APR. Unless Ford is doing a 0% but I guess we will see down the road.

The dealer is still making money, even at the under invoice price. They wouldn't offer it if they were losing out. I ordered based off under invoice price quote which they said they will honor no matter what.

At this point, I'm just looking for a Production Date. Once I receive that, I'll cross the bridge of researching financial options so I'm prepared when the truck actually shows up.

 

[halligan1201]

I'd simply reach out and ask Zach at Granger about it.

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