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Old 09-11-2010, 07:17 PM   #1
coupesX2
 
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Dealerships Reimbursed?

Does anyone know if dealerships get reimbursed the $500 discount when you finance through GMAC? I am trying to figure out my bottom line figure before I sign papers.

Any information is greatly appreciated!
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Old 09-11-2010, 07:25 PM   #2
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Not sure what $500 discount you are talking about. Can you explain more? Who said you are getting a discount?

It's already better to negotiate on price first before you talk financing. Most people do the reverse...
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Old 09-11-2010, 07:38 PM   #3
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There is an incentive through GM right now that if you finance through GMAC you get $500 off. I am just wondering if GMAC pays the dealer back the $500. I may not finance through them. Just curious how it works I guess.
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Old 09-11-2010, 09:17 PM   #4
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From my understanding (which isn't from the inside or anything)..

But any incentives from GM gets sent to dealership. For selling you the car for less.

So if they sell you a car for $30,000 but has $500 cash incentive. Then they sell it to you for 29,500. Because they know that $500 bucks is coming back to them from GM.
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Old 09-11-2010, 09:31 PM   #5
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where did you find the incentive and what are there rates
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Old 09-12-2010, 06:57 AM   #6
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I first read about the rebate on here. So, I asked my dealer about it and he confirmed it was available if you finance through GMAC. But, I am not ready to finance so I do not know the rate yet. I would suspect it would be a little higher than others to compensate for the $500.

My thought is this: I am getting the credit union discount, which I know is reimbursed to the dealership by GM. If I finance through GMAC they probably get that $500 back. So, when everyone talks about getting a price near (slightly above or below) invoice, technically the dealership gets MSRP or above because all of the incentive money comes back to them. So, the customer leaves feeling good for getting a price below MSRP, but in reality the dealership really did nothing but honor the incentive.

Conclusion: Squeeze for even more $$$$ off because the dealership is getting sticker price even though you technically are not paying it.
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Old 09-12-2010, 02:29 PM   #7
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I wouldn't worry about it. GMAC has the worst rates ever and are no where near competitive with banks and other lenders your dealer as access to (can be 2% or more higher then another lender). For a 5 year loan this can be $20 or more a month in interest payments which comes out to $1,200 more over the course of the loan just to save $500 at the time of purchase.
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Old 09-12-2010, 02:32 PM   #8
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GMAC 0% for 60 months on 2010's is not bad at all in IL......................
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Old 09-12-2010, 10:41 PM   #9
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Completed the paperwork on my 2011 SGM 1SS on Saturday at my dealer. Car arrived last Thursday. Discussed financing options. GMAC only offers $1,000 rebate on Aveo and Cobalt. Nothing on Camaros. I did obtain 2.64% for 36 months from Chase thru dealership. My credit score is over 800 which opened the door to this rate plus 50% down-payment on car.
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