Dealer is in NY. Will share once I get it locked down. They have a few more units in transit. NJ sales tax is included at 6.625% in DAS and monthly. They want me to pay DMV fees up front but no dealer fees, which is pretty amazing.
I’ve been a member of PenFed for years, have financed a bunch of cars and they even carry a mortgage for me, but this is my first balloon loan. Anybody can join now, no donation loophole required, like when I joined.
Thanks. I just signed up. Why not?
Apparently the Octane Red unit, which I preferred, was sold, for full MSRP, in between the time my sales person got off last night and got back into the office this afternoon. Not shocking in this market.
But good news is a second unit, in White Knuckle, is still available. Just put the deposit down.
Are you able to transfer this during the 36 months? Or do you have to sell it outright?
I don’t believe you can transfer a balloon loan, but I could sell it to someone who could refinance it with a used balloon loan.
Spoke to the GM @ the dealership today who played the “we aren’t making any money on this unit” game. Asked if they could finance it instead, I told him only if he matched PenFed’s program. I don’t expect him to come back with a viable option but I will give him a chance. They did take my deposit but have not provided me a sales order yet.
It’s hilarious the games CDJR dealers play. I have a lot of fun with them. It usually leads to them swearing at me or telling me I’m insane for asking for such a price. Followed by a call a few days later that if I sign today they will do the deal.
I just don’t understand how some of these guys can be successful as salesmen.
I was working with one dealership, Ramsey CJD in Ramsey, NJ, for over 2 weeks on 4 units they have in stock. No inventory change this whole time, even across the end of month. I was looking for them to improve their discount by only $250 to close the deal. Here is an actual series of text they sent me:
When I asked for Affiliate pricing (which I got from another dealer): “We won’t do an affiliates deal on these at the moment… no inventory. We haven’t even discounted them. We are selling them at sticker to other dealerships… we sold 3 yesterday to Boston, Connecticut, and Staten Island”
When I asked for another $250 discount to close the deal in Sept: “I gave my best price I don’t want to discount what I did. I can sell to a dealership for more… your deal has no positives. No trade makes it worse. Unfortunately with program from dodge dealerships don’t need to budge on them.”
When I asked if they still had the same inventory on Oct 1 that they had 3 days earlier: “We will always have them because we are one of the bigger Scat pack He’ll Cat dealers in the country.”
When I told him I bought elsewhere: “I understand you need to squeeze dealerships for every Penny. We have no inventory. Just because we make a deal doesn’t mean it’s beneficial to us. We employee 500 people in the auto group and would like to keep them employed. Wish you nothing with the best with your new car.”
TLDR;
Of course they pay dealerrater so you can’t leave them honest reviews. Avoid these guys.
It’s the business model and as long “ It’s a Jeep thing” and their trucks are hundreds cheaper than the competition…they get to play this game. I have found the muscle car/truck aspect of any of these dealers business model, is not wanted and looked upon as more of a hassle more so then a cash cow. But then I bet they hear what one dealer got for a car and they all follow suit.
This is the typical fca bs… nothing new.
Looking to try out the Penfed ballon loan too, any idea if you can use the car as a trade or sell to a dealer at the end or does it have to paid out personally / refinanced. I’ve been going back and forth for a week with a few dealers in Upstate NY this past week, might finally have a deal got offered a plus group Scat Charger for $478 36/10 with $1000 down.
You can trade or sell to a dealer at any time, it’s no different then when traditionally financed, the buyer would just need to work w/ PenFed to remit the payoff and receive the title.
That seems like a really good lease offer for a Charger given current market conditions and programs. Do you have more details to share? What is the pre-incentive discount and who is providing the financing?
https://www.penfed.org/auto/payment-saver
How It Works
With Payment Saver Auto Loans, you will be able to make a lower payment than what the conventional auto loan would offer, yet at a higher interest rate. Then, at the end of the loan, you will owe the remaining balance of the loan itself. At this juncture, you may choose to pay off the loan or sell, trade, or refinance the vehicle.
I’m sorry they are offering 478 for 39/10 Residual is 29105.90 . Rate .00148% , $46945 MSRP, $44950 out the door (4.2% discount), $1000 out of pocket but an additional $1000 that is coming out of my trade, my trade is also covering taxes and fees.
I don’t know who the financing company is as I was told by another dealer Chrysler Capital didn’t offer 39 month.
As an update for the affiliate deal I worked with the NY dealership, after the GM played the “we aren’t making any money” card I have not heard back from them, I have not received a sales order and they haven’t charged the deposit to my credit card. They had previously been very quick to respond to communications so I think they are gonna bail.
I found another dealer, in PA, with 2 units inbound, willing to do an affiliate deal. Let’s see if I can get this one past the GM.
You’ve got a bunch of options to get to a $47K MSRP and a 4.2% discount is right around what I’ve seen offered for a Charger. You don’t mention rebates at all, but if you are getting 4.2% w/o using affiliate then you can still apply a $1000 TDM and a $500 conquest/loyalty incentive. In any case with $2000 DAS your effectively at $538/mo which is about average. PenFed’s program should be better but the options will hurt it.
Yeah, it’s plus, navigation, red calipers, locking lugs and sunroof. No idea why a dealer would even order nav on these with it having apple carplay / android auto… wasted money to be honest. I haven’t got a breakdown from them yet, so I don’t know if the discount includes any kind of rebate. They want me to come in tomorrow. I have another deal in limbo too, $49995 MSRP $48800 (2.4% discount), 36/10 mf .00102 61% residual same 1000 down / 1000 from my trade for $549. I really want this one though because it has daytona, dynamics, harmon/cardon and nav. I’ve probably talked to 15 dealers in the past 2 weeks and only 3 have budged on price as most of them have been in transit or just arrived.
After waiting 3 days for confirmation of my deposit and a sales order, I finally was able to reach the GM again today and he told me they are still deciding if they want to accept my deal. I told him I would make his decision easy and he can go ahead and cancel the order. For reference, the dealer was Browns CJD in Patchogue, NY. Nice enough at first but clearly the sales rep did not have the support of his GM to extend the offer he made.
As the FCA world turns I have moved onto another dealer, this one a smaller dealer based in PA. They are offering the affiliate price but are charging $429 in additional fees which the NY dealer was not. That said they are about 90 minutes closer to me, generally a more coinvent location, I am dealing directly w/ the GM and they have my preferred color (Octane Red). So I think I’m OK paying a little more at this point.
I finally got a sales order!! This dealer is Quigley CJD in Boyertown, PA. These guys are good dudes and I recommend them highly, keep in mind this is after dealing more more FCA dealers then I care to admit. I gave them a deposit and they immediately sent me a sales order but said they will not charge my card until the vehicle arrives.
Still waiting for one other dealer to get back to me on a last minute “beat it” price.
One step closer, wish the deal was better on the charger
Had a little breakthrough today. After getting a PA dealer (Quigley) to agree to an Affiliate deal, on an in-transit unit, I had another PA dealer reach out to me looking to move an in-stock unit. After a little negotiation they were willing to go down to invoice without using Affiliate, which means I can stack my PenFed $1000 TDM to maximize my rebates. The other good news is the vehicle was equipped with the Auto Trans Package and the Driver Convenience Package:
MSRP: $43,380
Sales Price: $41,569 (4.2% off pre-incentive)
Rebates: $6350 ($4850 Power Dollars + $1000 PenFed TDM + $500 Conquest)
Taxes, DMV & Fees: $3779
OTD Price: $38,998
The other interesting development, is when I loaded this VIN up into the PenFed balloon calculator, and added the Safety & HID options, it raised the MSRP to $43,605 and the RV to $30,500 – To date I have not found any other combinations which altered the MSRP/RV when adding options onto the base vehicle w/ PenFed. The net result is I am getting the extra options for pretty close to the same effective price of the lesser equipped units I was pricing. Pickup is scheduled for Thursday.
