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00:34:26 - 05/29/2024
General Dakota Board
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03 Dakota
Dodge Dakota
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4/03/2003
08:01:54
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 Subject: Can Someone Help Me?
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Message:
Hello Everyone,
I'm a newbie here to the board and it has been a while since I've last posted. I have several questions for you guys who have already purchased your trucks. Okay right now I'm in the process of purchasing a 2003 Dodge Dakota Club Cab 4x4 with Sport Plus Package 26C which has the 4.7 and the 5 spd auto. The sticker on the truck is $26,290 but, since I know the salesman at the dealership he told me he'd let me have the truck for $20,980 which excludes tax, license, and registration. I have to ask but, do you guys think I'm getting a deal on this truck or have you guys talked dealer's lower?
Also, I talked to him about financing and he said that my interest rate would at most 6% but, here's some credit history on me. I've just recently established credit for myself a little over a year and a half ago when I took out a $1500 loan for an 89 Acura here in Japan and also about 7 months ago I just got my first credit card so I've been using that as well to help out. But, here's the main thing my credit score as of mid Feb was 678 which was in between Fair and Good. Should be at good now. But, the salesman told me that because I haven't had my credit established for very long that 6% would be the most. But, it seems like to me that since my credit is Good I should be able to get 3% or 4% if I decide to finance for either 48 months or 60 months.
Finally, just curious as to what you guys paid for your tax, license, and registration so I have an idea of what I'm up against. I know my taxes is going to be around $1600 because the state where I claim residency has a 6% sales tax. Anyways, any replies would be greatly appreciated. Please help out this 22 year old make the right decision.
03 Dakota
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2001RT
Dodge Dakota
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4/03/2003
09:25:19
|  RE: Can Someone Help Me?
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Message:
03, here's the deal. If your credit score is still below 700, you are probably not a "Tier 1" applicant. This means that you may not qualify for the 3% advertised on TV and in print. However, make sure that the 6% they are quoting is what is called the "bank rate". In other words, the rate that the bank is willing to finance you for. Most of the time, dealers add percentage points to the "bank rate" and offer you what is called the "buy rate". The dealer gets to keep the difference between the two.
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Texas Todd
Dodge Dakota
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4/03/2003
11:52:14
| RE: Can Someone Help Me?
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Look on WWW.edmunds.com, and look up the invoice price of a vehicle equipped like yours. That should be your price. They still make 2-4% on it!
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