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07-23-2015, 01:07 PM
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#1
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Senior Member
Join Date: Oct 2012
Location: Oakland County, MICH
Posts: 189
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A good deal?
Greetings JOF! I have a question for you all. I may be buying a 2016 32TSBH. The MSRP is $36,500. The salesman and I agreed to $28,000, which I believe is a little high, but he was throwing in a new hitch and a TV for the bunkhouse. He was giving me $10,000 for my trade which NADA says is worth $14,000. They called me today and said we were good to go, that my payment was XXX for XXX years. When I asked why it was higher than I anticipated, they said I was financing $39,000 which included the negative equity from the trade in, taxes, title, etc. I don't think I'm getting a good deal.......Anyone have insight? Happy camping!!
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2016 Jayco 32 TSBH
2018 Ford F-150 3.5 EcoBoost
Equi-l-zer WDH
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07-23-2015, 01:46 PM
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#2
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Senior Member
Join Date: Jun 2015
Location: Central Florida
Posts: 203
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How much do you owe on your current TT?
Something is not adding up here.
Whats the rate they offered?
Normally a good deal seems to be about 30-35% below MSRP so your not quiet there yet. Your at around 25%. Now it is a 2016 and that may tighten them up a little bit.
But if you are buying it for $28,000.00, plus your balance on your old one, plus the finance charges and interest that is where your total will come in.
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2015 31RLDS
2001 F250 Superduty
2 Crazy Huskies
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07-23-2015, 01:49 PM
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#3
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Senior Member
Join Date: Apr 2014
Location: Gilbert
Posts: 607
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Sounds bad to me. Math doesn't really work either. 28000+4000=32000 - does that mean 7000 for taxes? Also, the price on the trailer seems high. Shipping to Mich is not that much so delivery shouldn't be huge. I would go somewhere else and see if you can get a better deal. Doesn't sound good to me.
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2014 Jayco Jay Flight 32 BHDS
2015 Ford F-250 Lariat 6.7L Powerstroke 4x4
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07-23-2015, 01:53 PM
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#4
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Senior Member
Join Date: Oct 2012
Location: Oakland County, MICH
Posts: 189
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I owe $16,400 on my current RV. They were "offering rebates" on the new one, which i was going to give back to the dealer which was supposed to balance the negative balance from the trade in. I am terrible at math and even worse at negotiating deals, but if the trade in and rebates were to equal out, then it seems like I am paying 39K for a new trailer and a hitch. I am putting nothing out of pocket down and my APR is 3.9%
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2016 Jayco 32 TSBH
2018 Ford F-150 3.5 EcoBoost
Equi-l-zer WDH
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07-23-2015, 02:05 PM
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#5
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Senior Member
Join Date: Jun 2015
Location: Central Florida
Posts: 203
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Ok, so you will owe
6400.00 after the trade on your old tt.
28,000.00 for the new one
= 34,400.00
1680.00 MI sales tax at 6%
=36080.00
If at 3.9 for 180 months your payment should be around 265.00 per month.
So where is the other 3000.00 coming from?
If there are rebates on top of this they are keeping them and ripping you off.
1: I would look for a better price.
2: I would push for more on your trade.
3: I would go to the bank you currently have your loan with and ask them what kind of rate they will give you.
I hope this helps.
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2015 31RLDS
2001 F250 Superduty
2 Crazy Huskies
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07-23-2015, 02:15 PM
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#6
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Senior Member
Join Date: Oct 2012
Location: Oakland County, MICH
Posts: 189
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It's not adding up to me either. I was always told to factor $10 a month per $1000 financed. If my trade and the rebates are a wash, then I should be financing $28,000, and my payments should be around $280. Arrrrrrr!!!!!
I appreciate everyone's help on this. I wish that I was better at math and working with salesmen.........
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2016 Jayco 32 TSBH
2018 Ford F-150 3.5 EcoBoost
Equi-l-zer WDH
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07-23-2015, 02:57 PM
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#7
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Senior Member
Join Date: May 2014
Posts: 122
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Ask your dealer to email you a copy of the breakdown showing all costs and calculations. That way you can study it yourself at leisure with no salesman staring you down and see exactly what is all in the purchase contract.
Also this way you can take it to your bank or a friend who is good at understanding financing for a second opinion.
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2014 Jayco X19H
2016 Ford F-150 XLT Supercrew 5.0L V8 6.5 box
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07-23-2015, 03:29 PM
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#8
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Senior Member
Join Date: Jul 2012
Location: Chicagoland
Posts: 729
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^^ x2
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2016 Pinnacle 36REQS
2022 Ford F-450 6.7 4x4 CC LB Dually
Mike & Chelle, My kids when they decide to go with us.
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07-23-2015, 04:32 PM
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#9
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Senior Member
Join Date: Apr 2014
Location: Gilbert
Posts: 607
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Quote:
Originally Posted by Raspberry
Ask your dealer to email you a copy of the breakdown showing all costs and calculations. That way you can study it yourself at leisure with no salesman staring you down and see exactly what is all in the purchase contract.
Also this way you can take it to your bank or a friend who is good at understanding financing for a second opinion.
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Good info right there. Also, if they don't want to give you that and are pressuring you, there is a reason - IT'S A BAD DEAL.
__________________
2014 Jayco Jay Flight 32 BHDS
2015 Ford F-250 Lariat 6.7L Powerstroke 4x4
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07-23-2015, 05:03 PM
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#10
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Site Team
Join Date: Nov 2010
Location: Virginia`s Eastern Shore
Posts: 17,091
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Smells bad to me as well. Besides everything already mentioned, you will be VERY underwater on your new trailer loan the minute you sign the papers and after a few years EXTREMELY underwater when considering how fast these things depreciate. These are very undesirable circumstances IMO.
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2017 Coachmen Catalina 283RKS
2018 Ford F250 Super Duty 6.2l CCSB
2010 Jayflight 28BHS (sold)
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07-24-2015, 04:57 AM
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#11
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Senior Member
Join Date: Jul 2015
Location: Mid-Mi
Posts: 1,492
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Is the $28k otd, or plus tax? Something isn't adding up as mentioned!
Anyway to sell your trailer outright?
PM sent.
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07-24-2015, 04:37 PM
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#12
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Senior Member
Join Date: Jul 2015
Location: Rio Rancho
Posts: 426
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Just retired from RV sales..............Run Forest Run!
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07-24-2015, 05:09 PM
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#13
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Senior Member
Join Date: Sep 2014
Location: Sacramento
Posts: 139
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Negative equity is never a good idea. I agree with getting a cost breakdown for you to study without any dealer pressure. Also, try to get an approval from another lender who might offer you a better rate, such as your credit union or a national lender like USAA.
What are you planning on using as your tow vehicle?
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