Getting a GT350 at MSRP

[13COBRA]

I've heard stories about $10,000 ADMs on the Miata's when they first came out. People paid it too.

If you think Miata's are bad, read through this article:

http://articles.chicagotribune.com/2000-04-23/travel/0004230145_1_chrysler-pt-cruiser-dealer-sticker

 

[AustinSN]

If you think Miata's are bad, read through this article:

http://articles.chicagotribune.com/2000-04-23/travel/0004230145_1_chrysler-pt-cruiser-dealer-sticker

LOL that's hilarious.

 

[sonic cobra]

let me take you back a little further. To 1983 when Chrysler corp introduced the first ever minivan. It was an instant success. As I remember it, Lee Iacocca was chairman at the time. Chrysler was in danger of failing and Iacocca desperately needed the minivan to sell well and save the company. He was concerned about dealers marking up the new minivans. He sent out personal letters to all his dealers. In that letter he acknowledged that the dealers were free to sell the minivan for whatever they wanted, but if any dealer marked up the minivan over MSRP, he would do everything in his power to revoke that dealer franchise. It worked, they sold a ton of them, changed the industry, saved Chrysler and added to Iacocca's legend.

 

[13COBRA]

let me take you back a little further. To 1983 when Chrysler corp introduced the first ever minivan. It was an instant success. As I remember it, Lee Iacocca was chairman at the time. Chrysler was in danger of failing and Iacocca desperately needed the minivan to sell well and save the company. He was concerned about dealers marking up the new minivans. He sent out personal letters to all his dealers. In that letter he acknowledged that the dealers were free to sell the minivan for whatever they wanted, but if any dealer marked up the minivan over MSRP, he would do everything in his power to revoke that dealer franchise. It worked, they sold a ton of them, changed the industry, saved Chrysler and added to Iacocca's legend.

That may have worked in the 80's, but with the dealer agreements and franchise laws, if he revoked anyone's licenses today, it would cost Chrysler a lot of money in lawsuits.

 

[GT Premi]

In the first place , its not a base model, it is the Z51 .Big difference. ...

Only to Corvette guys. If it still has the base engine, it's the base car.

That may have worked in the 80's, but with the dealer agreements and franchise laws, if he revoked anyone's licenses today, it would cost Chrysler a lot of money in lawsuits.

Aren't there laws against usury? There's a reason banks won't finance ADM on vehicles. It's like, people who pay ADM on cars are knowingly and willingly labeling themselves as foolish/gullible.

 

[13COBRA]

Aren't there laws against usury? There's a reason banks won't finance ADM on vehicles. It's like, people who pay ADM on cars are knowingly and willingly labeling themselves as foolish/gullible.

Now you're just pulling stuff out of your ass.

Banks will loan more than book value on vehicles, happens everyday.

Whether it's inequity in the trade, or ADM, they do finance it.

A decent credit score will allow you to finance 120% of value. So a $65k vehicle can have a loan of $78,000. That $13k can be in the form of ADM or negative equity.

 

[GT Premi]

... That $13k can be in the form of ADM...

Prove it. Show me some paperwork where a bank financed ADM.

edit:
A REPUTABLE bank, not some predatory lending institute or loan shark facility.

 

[13COBRA]

Prove it. Show me some paperwork where a bank financed ADM.

You can't be serious right now.

I refuse to post one of my customer's deals online. If you don't believe me, I can live with that.

 

[Chris!]

Unbiased here.

I work with hundreds of dealers. I see 120% loan through most credit union and most captive finance companies on new cars everyday

700+ credit scores only

America!

 

[krt22]

I still dont get why are even comparing the GT350 to vettes, miatas, or minivans. Those are all significantly higher volume cars, so any ADM is only driven by initial supply constraints, where as the GT350 will have initial and TOTAL supply constraints. If you want an apples to apples comparison look at the GT and RS series P-cars and the ADMs they can fetch.

 

[Lemers]

I asked for $50k and my bank approved up to $75k.

On a side note that loan request (which hasn't been used yet) dropped my credit score a few points.

 

[13COBRA]

I asked for $50k and my bank approved up to $75k.

On a side note that loan request (which hasn't been used yet) dropped my credit score a few points.

Anytime you have your credit pulled it will drop a few points.

It shows intent to buy, which increases the risk of loaning to you.

 

[Lemers]

Anytime you have your credit pulled it will drop a few points.

It shows intent to buy, which increases the risk of loaning to you.

It also reduces my ability to shop around for a proper loan.

 

[GT Premi]

It also reduces my ability to shop around for a proper loan.

Yep! And that's what freaking sucks.

 

[13COBRA]

It also reduces my ability to shop around for a proper loan.

Yep.

 

[1320 Junkie]

I called a few places and none are offering at Sticker..all $10k + over... no thanks. I'll wait til the frenzy is over or buy something else. They pulled this crap with the 2013 GT500's as well as a "low volume" build....how did that work out lol.

I could buy a twin for my coupe in Vert form for the same price as a NA standard 350 with the prices being gouged...all set with that shit.

 

[Para81]

I still dont get why are even comparing the GT350 to vettes, miatas, or minivans. Those are all significantly higher volume cars, so any ADM is only driven by initial supply constraints, where as the GT350 will have initial and TOTAL supply constraints. If you want an apples to apples comparison look at the GT and RS series P-cars and the ADMs they can fetch.

Exactly. The Shelby is in a league above all the cars mentioned (a part from the GT3 RS).

 

[Helmet]

It also reduces my ability to shop around for a proper loan.

Not if they are done within a few weeks of each other, credit reporting agencies will view them as one inquiry Because they assume you are sopping for the best rates

 

[ON D BIT]

I'll bite, what's your question?

Its been asked and answered. The question I have is if he has gotten deals on the above cars why in the hell is he worried about adm?

Good thing he does not want the 993! That ADM has doubled the value of a 20 year old car!

 

[BlownAway03]

Exactly. The Shelby is in a league above all the cars mentioned (a part from the GT3 RS).

You're saying the GT350 is in a league above the C7Z51? What substantiates this my friend. Have you seen performance numbers, or a comparison between the two. Link here please.