Originally Posted by nikeman
My dealer (he's actually the finance guy at my dealership) told me the day I ordered that my price could only get better with the exception of the trade in incentive that could not be locked in. I still have that but yet it seems my price got worse. These people never answer emails so I guess I just have to pop in on him and make him explain everything to me.
A few things to keep in mind. First, some dealers like to focus on the monthly payment amount as they can better hid the financial details of the deal. In your case I believe you have a trade with an outstanding loan balance. The key is to get a copy of the order document you signed. Get it as soon as you can so that you can analyze it before the day you take delivery.
On the order doc, there may be some fine print indicating that on special orders the price is subject to adjustment pending final pricing from the factory. My dealer was up front about this and indicated they usually see a couple of price increase during a model year.
On a trade deal the key numbers are:
1. The amount charged for the new vehicle
2. The amount the dealer is giving you for your trade in.
3. The amount still owed on your trade in to pay off its loan. Get this directly from your bank. They can provide the loan pay off amount and will give it to you in writing. If you get this directly the dealer can't pad the number.
4. The amount of factory incentives that apply. You can call the Chrysler Incentive Center, give them your zip code, and the exact model of Ram. They will tell you exactly what is currently available.
5. Any cash amount you are paying.
Using all of the above info you can determine your exact out of pocket cost of the vehicle, and your loan amount. Add sales tax, registration fee, and whatever the dealer charges for its documentation/ processing fee (if any).
On the Internet there are several loan calculators. You can plug in your own numbers (loan amount, interest rate, number of months). You will get a monthly payment amount that should be within $1 - $2 per month of what the dealer calculates. The variance is due to anomalies in some web based calculators, and the number of days until your first payment is due (to cover the loan interest accrued from signing until 1st payment date).
Another item you can ask for a copy of the POC (priced order confirmation). The dealer can print it from the Ram ordering system. It will show the ordered options, MSRP, dealer invoice, and dealer holdback. Some dealers may say no, others may be upfront and give you a copy.
When you take delivery, carefully review all documents. The financials should match or be very close to your own calculations. Make sure they do not try to slip in anything you don't want like rust proofing, extended warranty, paint protectant, etc. These are all high profit items that may get thrown at you at the last moment (or bundled in without your knowledge). Of course if you want any of those it should be based on a negotiated price for each item.
Sorry for the long post, I just started typing and didn't realize it was so long. Hope this helps. All disclaimers apply as your situation may vary. Good luck!