How much money down when ordering a truck??

[Deleted member 995608]

What's a fair down payment when ordering a specific truck? Thinking I may hold out for a 2015 model as I haven't been able to locate exactly what I want.

 

[garrettg84]

10% down is the normal for someone wanting to finance the majority of the truck. Much less than 10% and some banks (especially credit unions) can get a little nutty with their lending - though this likely has to do with the loan to value ratio. If a bank has to repo your truck and sell it, they need to feel assured they can recoup most of the debt. The more you put down, the better off you are. The average these days is 12%, up from 9.9% in 2005. (Edmunds - How much should a car downpayment be?)

RAM dealers are already accepting pre-orders on 2015s. I've already pre-ordered mine for the same reason. The 2014s are already starting to get scarce on the lots. The dealer assured me there are no major changes between 2014 and 15.

 

[Bill]

First you need to figure out what you want to pay monthly if you are going to finance it. Have trade in? YOU figure out how much you want for it. Don't tell the salesman. I have bought many vehicles in my life. I use this approach when I walk into a dealership ~ find the truck I want, test drive it, go inside with the saleman and tell him or her this: "You only have one chance to get my business and that will depend on my monthly payment, what you will give me for a trade-in and the lowest interest rate possible - remember, you have just ONE chance. If salesman comes out with figures that you feel are way off, simply get up and walk out. Oh they will chase you to the door but just keep on walking, get into your trade-in and drive off. Your phone will ring that day or at least the next.

So basically, don't let them know anything about where you want your payments to be, don't tell them how much you want for your trade-in - don't tell them anything!!

Just make sure they come down on their price for a new vehicle or up the price for your trade-in. I just checked on a 2015 Ford for the heck of it. Sticker price was $67,000. However they were having a sale and marking these trucks down by $7,500. So you know when their sale is over, they have a lot of mark-up money so they can afford to still drop their prices. I refuse to sit there while the salesman and finance manager are talking about the basketball game and at the last minute, scribble down some off the wall numbers for you. I use to sell cars but couldn't stand that back and forth game and believe me, it is a game.

 

[Deleted member 995608]

I guess I wasn't clear on my question guys. I wasn't asking about financing.

I want to custom order a truck and I've heard that most dealers want some sort of deposit.

 

[garrettg84]

I only put down $100 on my order deposit. The salesman said $250, then the manager later said only "$100 or something like that, just to hold your place". Then when I actually went to order they asked for $500. I told them I'd give em $100 like the manager said and they ordered it just fine.

Your local dealer may have some kind of local policy but there is no dollar figure required, just something. Really, they only need to show RAM that you have skin in the game before moving forward with the custom order. It could be $20 and it would still pass their system.

 

[Bill]

Sorry I gave you that advice. I didn't know you were going to be ordering a new one. Locally, most dealers want around $500.00 - give or take. If they want your business I'd start out by offering them 2-3 hundred.

 

[NDanecker]

$1000 deposit for the order. When it came in it was a sign-n-drive thing. Didn't want to put anything down as my 04 was still up for sale. Now that it is sold I'm paying it off quickly. Should have it done within 2 years.

At first the salesman was kinda of shocked thinking it wouldn't go through. But once they did a credit report it wasn't a problem. IMO, the amount required for deposit depends on your credit score.

 

[Regcabguy]

I guess I wasn't clear on my question guys. I wasn't asking about financing.

I want to custom order a truck and I've heard that most dealers want some sort of deposit.

I think I put a refundable $500 deposit on my special order. Dave Smith was the dealer. They were great.

 

[Bill Stockard]

I've special ordered Chevy, Ford, and four Ram trucks and have never put up a deposit with my order. All the smaller country dealers where I ordered these vehicles knew me and knew I would buy the truck when it arrived.

Bill

 

[dodgesst]

When I ordered my 2011, the dealer asked for a $1000 non refundable down payment. Two weeks ago I asked same dealership about ordering a 2015 and they said no need for a down payment, I guess after buying 5 trucks from them they trust me now. They had a 14 enroute that was the truck I wanted so I just bought that one. I do believe Dodge dealers lease their inventory, so they may not want a "un wanted" truck on the lot.

 

[Deleted member 995608]

I talked with Dennis Dillion in Idaho today and they asked for $1k deposit. That seems fair enough.

 

[Bill]

https://www.google.com/webhp?sourceid=navclient&ie=UTF-8&gws_rd=ssl#q=leasing+dodge+trucks I know my local dealer with not lease any trucks and I have never seen one that will but you might try that google link.

 

[dodgesst]

Bill I was saying that Dodge dealers lease from Dodge, they don't buy their stock, so they pay a monthly rental for each new vehicle on the lot. Smaller dealer may not order a new truck for someone for nothing.

 

[RVTRKN]

I gave $2K for my deposit, but I paid cash for my 07. I feel I over paid for it because there was no incentive for the dealer to give a discount. Even though I was assured I got a good price, I believe I could have done better if I had bought what they had on the lot. I won't be ordering a vehicle in the future due to that issue.

 

[Newsa]

They asked me for $4000 for a tradesman. I thought that much was too much and took my busimess out of state. I found a dealer willimg to deliver 4 states away. I paid $500 extra for delivery

 

[EGroeneveld]

When I order it's always been $500 for the deposit to order.
When the truck shows up, I do enough to get the best financing from the Credit Union.
Then I sell the old truck myself and put the money against the loan on the new truck unless the rate is like .9% or zero percent.