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Old 03-11-2018, 07:13 PM   #1
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2018 25' International
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In-house financing requirement

I am looking at new. I have a price quote in writing. The dealer is telling me that I need to finance through their lender as they would get a rebate on my loan. Their initial quote was 6.99 to 7.99% which seems too high. If I bring my own loan or offer to pay cash he tells me the price will be $2,000 higher. Is that a bluff on the dealer's part?
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Old 03-11-2018, 07:29 PM   #2
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Old 03-11-2018, 07:47 PM   #3
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That interest rate does seem high.

It's been some four months, and rates have gone up, but our dealer quoted 4.49% with 23% down over ten years. The highest rate was 240 months @ 5.49% with 10k down. Middle rate was 180 months @ 5.24% with 10k down.

We went with the lowest rate, as that was what our credit union also quoted, and agreed to stay with that firm for one year. That got our dealer a kick back from their bank and keeps then happy. It was also part of our negotiation that got us a 20% discount on the Airstream.

The plan, in our case, is to pay off the loan after that year is up.

We did the same in buying our F250 TV. Used Ford Finance to get a $750 spiff, then paid off the loan after three months.

You might discuss it further with your dealer. If you can pay off the loan at any time and refinance to get a lower rate, and the interest you pay out over the term you have the higher rate doesn't come to a whole lot, it might not be as bad as it sounds. Depends what all you get in the package....
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Old 03-11-2018, 07:53 PM   #4
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It is very typical with any automotive financing, that it is in the dealers financial interest to secure financing for the deal, as they make a cut of the deal. The dealer stands to be out $2,000.00 in prospective monies should you secure outside financing.

It's no bluff; the dealer wants that $2G's, however I would either follow TG Twinkie's advice and be prepared to walk away OR and this is a big OR; secure your outside financing at a much lower rate and offer to purchase accessories at the dealership that would partially compensate them for the financing loss. For example, offer to buy an extended warranty, or accessories like an upgraded hitch, better batteries, solar charging system or a generator.

You end up with a trailer with low financing, a bunch of extra's that you'd have to buy anyway, and the dealer is happy to have made up the financial difference.

Everyone wins.

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Old 03-11-2018, 08:05 PM   #5
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Yikes! I am not a big fan of financing anything other than a house but that’s just me. An Airstream is a toy, it is not required for living, it is a very nice toy. However, if you do finance, please, please look around and get a much better rate, You will save a lot of money in the long run. Credit Unions are a great place to start looking.
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Old 03-11-2018, 09:07 PM   #6
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Interest rate is always negotiable if your credit is excellent.
Get a quote elsewhere and go back to them and ask them to match or watch you walk.
Good luck
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Old 03-11-2018, 11:02 PM   #7
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In-house financing requirement

To me, kickbacks to the dealer from financial organizations tell me a lot about the ethics of the dealer and the financial folks. Not a good sign, IMHO. Just a little too blatant in this case.
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