To all that have ordered a Hellcat from Koons using the group buy discount what is the details of financing through them for the minimum of 3 months? If you don’t finance then you loose a $1000. I was just curious if it is a super high interest rate for those three months or is it comparable to standard rates. Of course your credit rating dictates the percentage. Just want to get some feedback thank you.
For those that bought from Koons?
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It should just be whatever the market rate is which is always fluctuating, especially now. You'll have to find out once you actually are signing on the dotted line. I don't anticipate anything absurd or out of the ordinary.
So now Koons has a stipulation where you MUST use their financing at their rate in order to get the group buy, under invoice deal?
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No. If you want 6% under invoice which equates to an additional $1000, you must use Chrysler Capital for a minimum of 3 months to qualify at which point you can refinance if you'd like. If you want the original 5%, there are no stipulations.
Ok that makes sense. Do they try to charge a extra high APR to cover some of that discount? Or do they charge a comparable rate? Regardless if you only have the loan for 3 months they can’t make that much off of you unless it was a super high rate. I’m just curious is to what the angle for them for that 3 months.
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They hope you either forget or don't care that you've financed through them. They collect the interest through the life of the loan which will generally exceed the $1000 they gave you leaving them with a profit.
When I picked up my car from Koons, the group buy was Not dependent on their financing. I made a small miscalculation and not do enough home work and come with 100% 3rd party qualification (Come with your own financing). But had the pre-qualification from CapOne. Big mistake as they only gave me a rate on the date of pick up, and I have great credit score over 800 and they slapped me in the face with a 6.5 interest rate. I know 1st world problems right! I was supper pissed, as I was expecting <3.9.
Well they said since they gave me a great deal on free oil change, tire package, and extended warranty they needed me to keep their financing for 3 months (in order for them to get a kick back from the finance company). I did not want any of these extra services but my wife! Love her to pieces was the only resistance had when pulling the trigger on my Cat. So I got these extra warranties which pissed me off a bit more. At about 2 months in I love the car but still pissed about the interest rate on some services I did not truly want which added 6K to my bill. Sooo I switch when I saw interest rates drop even further in 2021. We had no contract in keeping their financing for 3 months so I did what was best in My interest and not for their kick backs. I could of waited but you know how interest rates have been fluctuating the last few years.
I didn't loose any of my below invoice pricing or customer cash as financing was not part of that deal.
Well they said since they gave me a great deal on free oil change, tire package, and extended warranty they needed me to keep their financing for 3 months (in order for them to get a kick back from the finance company). I did not want any of these extra services but my wife! Love her to pieces was the only resistance had when pulling the trigger on my Cat. So I got these extra warranties which pissed me off a bit more. At about 2 months in I love the car but still pissed about the interest rate on some services I did not truly want which added 6K to my bill. Sooo I switch when I saw interest rates drop even further in 2021. We had no contract in keeping their financing for 3 months so I did what was best in My interest and not for their kick backs. I could of waited but you know how interest rates have been fluctuating the last few years.
I didn't loose any of my below invoice pricing or customer cash as financing was not part of that deal.
Below MSRP and below Invoice is a big difference.
Good copy.
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That is a seperate rebate from the Chrysler Capital one and would be deducted at the time of vehicle delivery, per Craig. So basically, you’re getting an additional $2k total.
Not sure we’re getting anything till we get our cars😕
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Correct. They’re separate rebates that will stack.
So they are doing 6% lower than the dealer invoice price?
I don’t see how that’s possible. I used the 1% below dealer invoice for their affiliate program + all other incentives for February. All of that wouldnt even get close to 6% below dealer invoice.
I financed through Koons for a group buy a few months back. At the time there was 0% being offered through Dodge however after a long time arguing and showing them in writing my super stock qualified for this I was told you either get all the discounts we are offering at a higher rate or you can do 0% for 72 at full sticker price with no discount or group buy pricing. So needless to say I sat and figured it out and the discounts will be better I just refinanced through my credit union. Oh and my credit was a 806 and I was told the best Chrysler said they would do was a 5.99% sooooo yea.
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