[ullu]

Hi everyone. I thought I had a deal sealed on a 2014 QX60 for year end but the dealer backed out even after taking a deposit!

In any case, I am back in the market looking to buy. Can anyone please let me know what manufactures' rebates are being offered for January?

Also, I understand there is a $750 IFS (financing) discount but I am being told that I can pay off the loan in a month with no prepayment penalty. Is there a catch here - e.g. would I have to repay the $750 discount?

Thanks.

 

[QX60 Hybrid]

I did the IFS loan just to get the discount. Paid it off a week later. No penalty.

 

[ullu]

I did the IFS loan just to get the discount. Paid it off a week later. No penalty.

Thanks for confirming that the IFS incentive works even if you pay off the loan right away with no pre-payment penalty.

I am just baffled that IFS would allow such a loophole.

I am also trying to understand what the dealer stands to gain from the financing if he is passing the entire $750 incentive to me. Am I missing anything here?

 

[mattreading22]

What happens with Infiniti Financial is each dealership gets a $750 "incentive" from corporate if a customer finances. The dealership runs this as a discount on the car because it allows us to get the cars out to the customer for a better price. They do this so they can make money on interest, but if you pay it off right away, it really is just an advantage to the customer.

 

[QxSixty]

What happens with Infiniti Financial is each dealership gets a $750 "incentive" from corporate if a customer finances. The dealership runs this as a discount on the car because it allows us to get the cars out to the customer for a better price. They do this so they can make money on interest, but if you pay it off right away, it really is just an advantage to the customer.

Not bad at all! It just goes to show, try to pay it off as soon as you can and you're set.

 

[ullu]

Thanks for the explanation. But why allow consumers to pre-pay with no penalty? Then you might as well give them the $750 incentive just for buying the car, with or without financing.

 

[Sinecure]

There's probably not "no" penalty. Just no penalty for you. If you pay off the loan in less than four months, the dealer will get charged back the incentive by Infiniti Finance. At least that's my understanding - I could be wrong.

And it is a dealer incentive, not a customer incentive. They can pass it along to you if it helps make/close the deal.

 

[mattreading22]

Correct, sales consultants usually don't begin the deal by saying there is this type of incentive, it would be used toward the end to help make a deal. It is just a way for Infiniti to try and get more people financing through them so they make money on interest. Most money at a dealership is not made in sales (one good thing to keep in mind).

 

[InfinitiFan]

Correct, sales consultants usually don't begin the deal by saying there is this type of incentive, it would be used toward the end to help make a deal. It is just a way for Infiniti to try and get more people financing through them so they make money on interest. Most money at a dealership is not made in sales (one good thing to keep in mind).

exactly. many other businesses are like this. just imagine if they threw the incentive in at the beginning, no room to negotiate that would benefit them on their end.