How much is the MONTHLY payment on a new Silverado?

hey everyone welcome back to the channel I hope you're having a fantastic day the number one way people buy a vehicle is by payment the number one reason people don't buy a car is by payment so in this video I'm gonna share with you the most common vehicle I sell the 2019 Chevy Silverado LT and rst and what you can expect a payment to be on that truck and also the best way to purchase the vehicle and what you need to look for so let's start off with going over at this price I'm going to tell you something that no dealership really ever tells you and that is when you are purchasing a vehicle you need to purchase a vehicle off of this right here this is an example of the form that I show my customers every single time I want to be very itemized I want to be very transparent on everything that I do to the train in to the payoff to the exact payments the payment is based off of not pulling credit so that's why you see that $10 swing and it just keeps us in compliant with some federal red tape that we have to abide by when we're quoting payments and then there is this this is exactly what you do not want to purchase a car with if you see this right here this is bad news and you pretty much need to do one or two things you go you tell that salesperson that you want to see everything itemized out like I showed you previous or you get up and walk out this is what's called a Foursquare this is designed to do two things create confusion in your mind and create gross profit from the dealership the Foursquare is built into four squares for you one two three four so that is based off of the four aspects of a car deal your vehicle trade in their vehicle their buying down payment and payment those are the four things that these are designed for and they make you focus on one or the other which is typically going to the payment so that they can make the most money on you so if you see that do the two things run or ask for an itemized description of this so let's get into this right here so this is stock number 19 - 3 1 1 3 you can go to my website Bachman Chevrolet comm check this out and until we sell it it'll be on there itemized out like this so let's start off right up here discount three thousand two hundred and thirty nine dollar discount straight from us Bachman Chevrolet and we also have a two thousand dollar trader system there now that two thousand dollar trade assist is coming from us once again and that's based off of you trading the two thousand or nine newer vehicle the reason we do that is because we don't want you to sell your car on Craigslist or Facebook marketplace we want to in turn sell it on our lot make a profit and keep our business open so what we have done is we've pretty much made it almost impossible for you to sell the car on your own for more money and allow us to do it so it's just as not a trick it's not a technique it's not a tactic is just something that we decided to do because oxygen cars are getting extremely hard to find and their prices are going up so we'll just pay you out of it package bonus cast this is something that is on every truck with this particular package and it's a two thousand dollar rebate that comes straight from the manufacturer the next two are based off of the availability that you have vehicles in your household are you finance conquest this is a manufacturer rebate that you have a non General Motors vehicle in your household ninety nine or newer this has to be an automobile it can't be a boat or a motorcycle I think that so anything that a manufacturer has out there Toyota Honda whatever the case may be they give you two thousand dollars just for owning it not trading it in so downpayment assistance I'm not a big fan of down payment assistance down payment assistance is basically the manufacturers saying hey finance through our captive lender which is GM financial and we'll pay you $1,500 now the thing that I don't like about GM financial is their rates are not competitive they're extremely high you're probably going to be in the 6% range on GM financial typically speaking again case-by-case basis on interest rates but that's where it is and then we have the thousand dollar March mania rebate everybody gets that as well so the three things on our pricing list that you have to qualify for is trading 2000 most people have I said that earlier Conquest most people have a non General Motors vehicle in their household and also General Motors knows that it costs a lot of money to get you to be brand loyal so if you've got something non General Motors in the vehicle in your household then you'll come over and you'll stay brand loyal to us down the road and then the down payment assistance so the purchase price on this car is 42 for 21 now I am going to show Kentucky sales tax which if you are not tiling in Kentucky you do not have Kentucky sales tax you only have the sales tax based off of where you are purchasing your car so 25 45 60 is 6% Kentucky sales tax all of our title license fees is 359 so the bottom line is 45 3 25 26 that is the absolute lowest price that you can get this vehicle for and that's how we have an itemized out on our website so let's get into what this truck cost per month so all of these numbers are verifiable by Google you can go to Google type in car or wheel payment calculator and check my numbers so so 60 months if you put no money down at a 4% interest rate your 834 dollars and 73 cents if you have a 5% interest rate your 855 and if you have a 6% interest rate your 876 now these numbers have to do with 5-year auto loans with usually these numbers here are going to be 700 plus bug credit scores and I showed these numbers so that way you can see an entire point of interest rate is not too much 20 bucks right so in a nutshell I show these because everybody who walks into the dealership is it is very concerned about interest rate and my personal opinion interest rate really should not be a determining factor for you buying a car now I get it we want to pay as little interest as possible yes I get that 100% but you can see that 20 bucks changes a little bit on a whole point and really to be honest with you again a car dealership is not going to tell you this if you have to depend on a vehicle and you can't decide which way to go over a $20 swing and payment you probably shouldn't be buying that vehicle just saying economics budget stuff like that so let's move on to 72 months this is the most common number that we sell vehicles at 72 months because it's the least amount of payment and it goes back to what I was talking about with subscription-based carbines so 72 months nobody now at a 4% interest rate your 709 doesn't even drop in a hundred bucks but a 700 car payment is more affordable in most people budgets than that 834 payment up there 5% 729 6% 751 over here pretty self-explanatory for every thousand dollars you put down it's $18 off of that payment on 72 months for every thousand dents you put down it's 16 bucks off of those payments so if you want to lower these payments by $100 get yourself in the 600 range you're going to need sixty two hundred dollars on 72 months on the sixty months you want to lower that by a thousand bucks you're gonna need fifty five hundred dollars down upfront now let's talk about trade ins right because trade ins enrolling negative equity over it's always a big thing right here's my take on people that come in with a trade majority of the time if you have a balance on your trade in you have negative equity it just varies on how much now the best thing to do to figure out how much negative equity you have is to cites TrueCar calm and Kelly Blue Book calm Kelly Blue Book calm you have to use what's called the instant cash offer in order to get a good true accurate number on your trade-in if you go to true car you want to use their trade appraisal tool to get the true accurate do a number on your trade-in do not use the number that says hey your cars worth between here and here that gives a false just a false head reading of what your car is worth because human nature says we're always going to go to the top so if you go to the Ken's instant cash offer part of Kelly Blue Book and the trade value of car they give you dead-on numbers and they're usually extremely close again if you have $5,000 in negative and equity take this number up $100 and you might as well just take it up another hundred bucks there five or six thousand dollar negative equity on 32 months you're talking 809 - a 750 one payment and also the reason that I showed you these interest rates because if you have a lot of negative equity you can better believe that these interest rates are going to go up loan to value that the banks are loaning is much higher so their internal algorithms which we have no control over we can't do anything about it their risk factor goes up so they charge you a higher interest rate so let's hit the Covenant bad news of 84 months a lot of people do 84 months as well I'm not a big fan of it obviously in the car business I do do it but at 84 months with zero money down on this 45,000 out the door purchase price truck you're a 684 car payment at a 7% interest rate you might as well Bank that you're probably going to get at least a 7% interest rate on an 84 month loan very few banks do 84 months and basically when I have something that wants to do any four months I don't like quoting the rate or a payment because I want the banks to tell me in that way and come back and be pretty much dead accurate so that way I don't make a mistake if I assume 7% that I'm good again you have a whole $15 difference between a thousand down here at 668 only 15 bucks difference for a thousand so you can see what that 7% rate does different from the 72 month rate at a 6% we were at 750 117 at a 6% rate with 84 months we only go to 684 so there you have it that is in a nutshell generally speaking what you can expect out of a car dealership when you're purchasing a car now is this set in stone absolutely not you can always go out and find a better deal but you're not really gonna get a big impact on anything out there I just want to show you what a 50 four thousand dollar truck cost at the end of the day what is gonna cost you monthly with all those different scenarios those different scenarios are in my 19 years and my 50 plus cars per month that I go through and do payments on and sell cars with every single month that is good factual information that no dealership is ever going to give out to you again like I said the beginning this is how you want to buy your car you want to bet by it based off of good factual information on everything itemized out and what you do now if you look at my sheet that I showed you earlier you're gonna see that I don't have these itemized out I don't have those rebates out of myself I have one rebate line and I have one discount line that way it's much easier for you to understand and to comprehend and not be confused because after all I want to be transparent but I don't want to confuse you either because at the end of the day I still want to sell a car and at the end of the day you walked into my dealership or picked up the phone and call me for one reason and that's to buy a car so again I hope that helps you the next time you're buying a car you can go in with great information to make the transaction process much simpler after all knowledge is power and by me giving you that knowledge it'll just give you the power to go in confidently get a great deal on your next vehicle regardless of what it is and you can enjoy driving it and enjoy the experience so again I want to say thank you so much for watching the video I love your positive comments I love hear what you guys think and I love hearing that you use my content to get a good deal get down the link you've got two of these Co audio speakers that I'm giving away and then also enter to win the Chevy dude 500 on our March Madness giveaway contest by having the best bracket I'll be in there I'll be playing I can't win but you can see how bad you can be me which should be pretty good if you can't beat me it's a very sad day because I don't watch college ball so as always thank you so much for watching this is the first time that you're viewing the channel make sure you hit the subscribe button turn the bell of notifications on leave a thumbs up have a great day and drive safely

Channel: Chevy Dude

Views: 503,899

Rating: 4.8289685 out of 5

Keywords: bachman chevrolet reviews, louisville chevrolet dealer, louisville chevy dealer, chevrolet dealer, bachman chevrolet new cars, bachman chevrolet used cars, used cars for sale in louisville, mike davenport, louisville chevy dude, bachman auto group, bachman chevrolet, louisville ky, vlog, blog, car payments, credit, payment, car, dave ramsey car loan, dave ramsey car buying, dave ramsey, car loan, car loans, car loan interest, car loans explained, credit score, automobile, loan

Id: d4YWqlW4tpY

Length: 13min 4sec (784 seconds)

Published: Tue Mar 12 2019