Sponsored

GT500 ADM disappearing

shogun32

Well-Known Member
Joined
Feb 8, 2019
Threads
89
Messages
14,607
Reaction score
12,097
Location
Northern VA
First Name
Matt
Vehicle(s)
'19 GT/PP, '23 GB Mach1, '12 Audi S5 (v8+6mt)
Vehicle Showcase
2
I bought rural land 20 years ago and now it has increased in market value by 10x.
Tell that to the guy sitting on 250 acres in Bel-Air, Senderos Canyon. He can't give it away.
Sponsored

 
OP
OP
Solarhermit

Solarhermit

Well-Known Member
Joined
Mar 30, 2022
Threads
10
Messages
107
Reaction score
86
Location
Alberta, Canada
First Name
Ken
Vehicle(s)
2021 GT500 black/tech/handling no ADM +$10K tax
Bidding starts at $39M for 258 acres in Senderos Canyon, Bel Air, compared to the $139M asking price. Hmmm, I think that is just a tad over my budget. The old Chinese saying: crisis brings opportunity.

I was able to retire 30 years ago because I took a 'dumb' risk on a piece of land in the foothills, west of Calgary (similar to Senderos Canyon but not nearly as trendy). I mortgaged everything but my soul and bought 130 acres at the bottom of the decline (who would have known, not me) and I turned it over (after subdividing) 7 years later for a BIG fat profit, while living in a log cabin with plywood floors and my work bench for kitchen cabinets while I plodded along in M&A in the oil patch. Then along came another real estate downdraft (it happens every few years in an oil oriented, real estate market) and I bought 160 acres for 25% of asking price and flipped it 5 years later for the original asking price = another BIGGER fat profit. Lightning doesn't strike twice but it did for me and I quit speculating (almost, but I bought another 160 acres and turned down a 10x offer recently).

Moral of my story: Take a big risk and get a big profit...if you are on the right side of the coin toss. And, that's all it is. Not smarts, not market savvy... just dumb luck.

And, now I am trying my luck in the gold market = hahaha, what a pig...until recently. Started buying gold producers in August and I was too early (better a day early than an hour late - Shakespeare, I think). Doubled down in October and again in December. All the gubmints are creating money out of thin air and no wonder there is inflation and higher interest rates but the opportunity (could be) HUGE. So far, up 32% and ready to double down again.

No risk, no reward.

And then there is the car market. Markets go up and markets go down, in real estate and in fancy cars. Enjoy your excesses while you can but always have a bucket of gold bullion buried in the back yard!
 

RagmopInKona

Banned
Banned
Banned
Joined
May 4, 2022
Threads
39
Messages
1,939
Reaction score
1,712
Location
CEO
Vehicle(s)
2020 Mustang HHP
This is just the standard parroted cope. In GENERAL, the more intelligence you have, the more likely you are to end up in a better financial situation in life.
Many That can pay for them with pocket lint, would not over pay, they got rich by not spending foolishly .
Everyone's goals are different. Most dealers with well off clients, want them to return so they don't charge them silly "market adjustments" as they know they'll make more in the long run.
YMMV
 

JR369

Well-Known Member
Joined
Oct 22, 2018
Threads
11
Messages
1,281
Reaction score
1,227
Location
Texas
Vehicle(s)
2022 GT500 Iconic
The days of cash deals are done. Dealers no longer do the in house financing of old. They get paid from the bank just the same as you plopping down a pile of cash. Often the dealer can add additional apr to the deal to gain even more money.

Glwyd.
No they're not.
 

shogun32

Well-Known Member
Joined
Feb 8, 2019
Threads
89
Messages
14,607
Reaction score
12,097
Location
Northern VA
First Name
Matt
Vehicle(s)
'19 GT/PP, '23 GB Mach1, '12 Audi S5 (v8+6mt)
Vehicle Showcase
2
No they're not.
you mean dealers can NOT add APR to an otherwise approved loan application and get a kickback? If so, sorry to bust your bubble but Sheehy VW did just that. I caught them because I had cross-checked what I was approved for by VW finance. They tried adding 1.5% to my rate.

I'm sure even more sleight of hand, let's call it lies, come from the lips of the finance officer who sees eg. BoA is good for 2.9% but instead fills out the paperwork for 5.9 and says, "I'm sorry thats the best rate the bank is giving me."

Car dealers haven't earned their Nixonian reputation without PLENTY of cause.
 

Sponsored

JR369

Well-Known Member
Joined
Oct 22, 2018
Threads
11
Messages
1,281
Reaction score
1,227
Location
Texas
Vehicle(s)
2022 GT500 Iconic
you mean dealers can NOT add APR to an otherwise approved loan application and get a kickback? If so, sorry to bust your bubble but Sheehy VW did just that. I caught them because I had cross-checked what I was approved for by VW finance. They tried adding 1.5% to my rate.

I'm sure even more sleight of hand, let's call it lies, come from the lips of the finance officer who sees eg. BoA is good for 2.9% but instead fills out the paperwork for 5.9 and says, "I'm sorry thats the best rate the bank is giving me."

Car dealers haven't earned their Nixonian reputation without PLENTY of cause.
I was responding to the sentence I bolded in the quote of my post. Cash deals...
 

Evolvd

Instigator
Joined
Jan 19, 2015
Threads
148
Messages
5,504
Reaction score
3,681
Location
Northwest Florida
First Name
Brian
Vehicle(s)
2021 Shelby GT500
I was responding to the sentence I bolded in the quote of my post. Cash deals...
Dealers have zero incentive for cash deals. Sure, they’ll take a cashiers check but good luck negotiating the best deal without financing through them. As stated they pull points from financing for a nice kickback.
 

JR369

Well-Known Member
Joined
Oct 22, 2018
Threads
11
Messages
1,281
Reaction score
1,227
Location
Texas
Vehicle(s)
2022 GT500 Iconic
Dealers have zero incentive for cash deals. Sure, they’ll take a cashiers check but good luck negotiating the best deal without financing through them. As stated they pull points from financing for a nice kickback.
Guess I found a unicorn dealer.
 

MAGS1

Well-Known Member
Joined
Mar 6, 2020
Threads
47
Messages
5,612
Reaction score
8,451
Location
Somewhere in Middle America
First Name
Mark
Vehicle(s)
2022 Mustang GT
Guess I found a unicorn dealer.
My local dealer will do a cash deal all day every day. He’s got a 2023 C8 a buddy of his traded in. I was talking to him about price and he gave me his best price number whether it’s cash or finance. He just wants to move cars.
 
OP
OP
Solarhermit

Solarhermit

Well-Known Member
Joined
Mar 30, 2022
Threads
10
Messages
107
Reaction score
86
Location
Alberta, Canada
First Name
Ken
Vehicle(s)
2021 GT500 black/tech/handling no ADM +$10K tax
One of the dealers, that I DIDN'T buy from, was saying that if I financed the car at the going 'bank rate" of 8.99%, they would cut $10K off of the ADM.

Another dealer said that Ford needed a $20K 'security deposit' on a new GT500 which they would refund after 12 months if I could prove that I still owned the car and hadn't flipped it in spite of their $20K ADM on top of that.

Weasels and scoundrels everywhere. But I did find one dealer with the car I wanted who gladly took my cash (with $0 ADM) and only $79K + $10K gubmint tax. He says he needs the cash to pay the bills this month...hahaha...with 300+ cars sitting in inventory and I was born yesterday.
 

Sponsored

JR369

Well-Known Member
Joined
Oct 22, 2018
Threads
11
Messages
1,281
Reaction score
1,227
Location
Texas
Vehicle(s)
2022 GT500 Iconic
One of the dealers, that I DIDN'T buy from, was saying that if I financed the car at the going 'bank rate" of 8.99%, they would cut $10K off of the ADM.

Another dealer said that Ford needed a $20K 'security deposit' on a new GT500 which they would refund after 12 months if I could prove that I still owned the car and hadn't flipped it in spite of their $20K ADM on top of that.

Weasels and scoundrels everywhere. But I did find one dealer with the car I wanted who gladly took my cash (with $0 ADM) and only $79K + $10K gubmint tax. He says he needs the cash to pay the bills this month...hahaha...with 300+ cars sitting in inventory and I was born yesterday.
Man I just didn't have to put up with any of that fuckery. 100% straight forward MSRP + Price Protection deal since I ordered in early Feb of 2022. No pressure to finance thru the dealer, Ford or anyone. I did not finance a penny. Signed papers. Handed them a cashiers check, spent an hour taping up the front of my 500, drove it home 450 miles.

Stockton Ford
Fort Stockton, TX
MSRP dealer
Been selling Shelby's for MSRP since 2015. I believe I got their only 22 GT500 Allocation but keep them in mind for the future. They are honorable.
 
Last edited:

DopamineQuest

Well-Known Member
Joined
Jul 17, 2021
Threads
16
Messages
623
Reaction score
1,465
Location
Ohio
Website
www.instagram.com
Vehicle(s)
2021 GT500 Carbonized Gray
One of the dealers, that I DIDN'T buy from, was saying that if I financed the car at the going 'bank rate" of 8.99%, they would cut $10K off of the ADM.

Another dealer said that Ford needed a $20K 'security deposit' on a new GT500 which they would refund after 12 months if I could prove that I still owned the car and hadn't flipped it in spite of their $20K ADM on top of that.

Weasels and scoundrels everywhere. But I did find one dealer with the car I wanted who gladly took my cash (with $0 ADM) and only $79K + $10K gubmint tax. He says he needs the cash to pay the bills this month...hahaha...with 300+ cars sitting in inventory and I was born yesterday.
Isn't the car used? Of course there is no ADM lol.
 

JR369

Well-Known Member
Joined
Oct 22, 2018
Threads
11
Messages
1,281
Reaction score
1,227
Location
Texas
Vehicle(s)
2022 GT500 Iconic
Man I just didn't have to put up with any of that fuckery. 100% straight forward MSRP + Price Protection deal since I ordered in Early Feb of 2022. No pressure to finance thru the dealer, Ford or anyone. I did not finance a penny. Signed papers. Handed them a cashiers check, spent an hour taping up the front of my 500, drove it home 450 miles.

Stockton Ford
Fort Stockton, TX
MSRP dealer
Been selling Shelby's for MSRP since 2015. I believe I got their only 22 GT500 Allocation but keep them in mind for the future. They are honorable.
I forgot to mention that Stockton Ford sent a driver to pick me up at the airport in Midland, TX which was about an hour away. They just asked that I pay the driver gas money. I tipped him bigly of course.

Did I get lucky? Yes and no. I WAS doing my homework. Stockton Ford was on my list of dealers to call. I was working outward from my area code calling Ford dealers. I had no prior knowledge of them and I didn't know anyone that worked there. They had a 21 FPB 500 but it was as old unit. I asked them how much ADM they sold it for and they said MSRP. I asked if they would do the same if I ordered a 22 500. They said they would with $1k down and the relationship was born. So, I'd say my timing was lucky.

Small town dealership. It's worth a call for any vehicle you might need since they are a MSRP or better dealer across the board. Speak with Dennis Thorp the finance manager. They had only one salesman at the time but he got covid back in early 22 and had to move on.
 

Dcgtconv

Well-Known Member
Joined
Apr 21, 2020
Threads
3
Messages
103
Reaction score
135
Location
Alberta
First Name
Darryl
Vehicle(s)
2020 GT500KR, 2009 GT500KR, '69Mach1 SCJ, '68 Conv
These ADM threads are all the same, I get a kick out of the emotions that get stirred up. Everyone and anyone has to make a purchase decision that suits their means and objectives. Find your best deal that fits this equation and pull the trigger, or don’t. It doesn’t matter what others think.
Sponsored

 
 




Top