Question on $750 IFS Cash on finance purchase

I believe that is true. It is a dealer incentive, not a consumer incentive. They didn't have to pass it along. They did it to help sweeten the deal for you. Make three payments, then pay it off. It's only going to cost you a few extra dollars in finance charges and you want the dealer on your side.


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ronshock said:

So in my deal I got the $1000 dealer cash and I also got $750 extra for financing through IFS. But the rate was higher than I could have got through my Credit Union. But I figured I would just refinance the note with my CU afterwards and get the best of both worlds.

However my dealer asked me nicely to not do that for approx. 90 days - or at least after making 3 payments with IFS or they (the dealership) would LOSE or be penalized the $750 (have Infiniti/IFS charge them back that $750). Is this factual?? Would love to hear some other Infiniti dealer personnel chime in on this. Thanks!

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Might have been true in the past. My salesman did tell that, but the GM told me otherwise. Anyway, it's too late. I financed the minimum to get the $750, and just paid it off. Hating monthly payments, I save for the next car while enjoying the current.

just went to my local Infiniti(NYC), got a price for Q50 AWD, premium, tech, touring, nav and 19" wheel for $47924, is that a good deal?

Sinecure said:

I believe that is true. It is a dealer incentive, not a consumer incentive. They didn't have to pass it along. They did it to help sweeten the deal for you. Make three payments, then pay it off. It's only going to cost you a few extra dollars in finance charges and you want the dealer on your side.

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Thanks Sinecure. Yes I don't want to cause the dealer to lose the $750 if that's actually the case that they would (hence my question). But I want to switch to a lower finance rate ASAP since it is costing me about $40/month more each month that I'm at IFS's higher rate than my credit union's lower rate. Eating $120 is not bad to save $750. But I want to switch as soon as they won't get penalized.

roychen98 said:

just went to my local Infiniti(NYC), got a price for Q50 AWD, premium, tech, touring, nav and 19" wheel for $47924, is that a good deal?

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That appears to be factory invoice for that model. I think you can do better if you shop around, particularly because it isn't a sport or hybrid. I have seen dealers more willing to discount non-hybrids in particular and non sports to a lesser extent.

I personally got 1k below invoice (In mid-september) on a RWD Hybrid w/ deluxe touring, tech, nav, kick plates and all-weather mats (no clue why those were part of a SoCal RWD Q50 but I digress). Of course, markets do vary but by now, I would think you should at least be able to get the deal I got on your model, and I'd personally shoot for better.

I did my finance with IFS, took the $750 and refinance after 2 weeks. Nothing illegal about it.

The dealership just told me they took the $750 and applied it to the cost of my car. I didn't even get the option.... We need to have a master list of dealerships and comment on specific sales people, prices, service, etc.... Good and bad.. I would love to send more people to their service department... Joe the manager is great!!

toonman said:

I did my finance with IFS, took the $750 and refinance after 2 weeks. Nothing illegal about it.

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Right toonman. There's nothing "illegal" about refinancing your car whenever you wish - as soon as you wish as long as the contract allows it (which Infiniti contracts do).

In fact my dealership's finance guy said I "could" go out and re-fi it the next day if I so chose. But he said that if I did before making at least 3 payments to IFS, they would lose the $750 they get from IFS. So it was basically a "gentlemen's agreement" to not do that/pay it off before then so they won't lose $750.

At least that's what I was told. I just posted the question here to see if any Infiniti Finance folk that frequent this forum would confirm this 90 day/3 payment minimum term to ensure they get the $750.

Ronshock, I am really glad to hear that there are people out there that live up to their word.

Yes, if you refi before the 3 months the dealership will be charged back the $750.

Razorburn26 said:

The dealership just told me they took the $750 and applied it to the cost of my car. I didn't even get the option.... We need to have a master list of dealerships and comment on specific sales people, prices, service, etc.... Good and bad.. I would love to send more people to their service department... Joe the manager is great!!

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x2

Knowing which dealerships and the people who work their are good or bad at what they do is key to smooth service of our cars. Might be time to get this going. Maybe one for each regional section?

ejhyun said:

Ronshock, I am really glad to hear that there are people out there that live up to their word.

Yes, if you refi before the 3 months the dealership will be charged back the $750.

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Thanks ejhyun.

Can you tell me if it is time (i.e. 90 days) or is it number of payments made to IFS (i.e. three) that is the measurement IFS uses? I ask because my first payment is 45 days out. So by the time I make two payments, I'll be 90 days past the purchase date. But if it is 3 payments then I'll need to wait to make that third one.

Which brings up another question. Do I need to send in a normal payment on that third one and THEN pay it off shortly after that? Or can I pay it off ON/AT that 3rd payment? Again, I want to ensure the dealership doesn't get ripped the $750 from IFS. But I do want to re-fi it ASAP after the "safe-zone" passes.

Rayz said:

x2

Knowing which dealerships and the people who work their are good or bad at what they do is key to smooth service of our cars. Might be time to get this going. Maybe one for each regional section?

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I was told three payments. The payment slip has a payoff amount on it if paid by a given date.


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Does anyone know when $750 IFS cash program became available on the Q50? I didn't see any available incentives in September so I'm wondering if this started in October? I checked Infiniti website, true car and Edmunds/kbb at the time and didn't see any incentives.

Just want to make sure I didn't miss out on anything; it certainly wasn't listed out as ak one time or mentioned at all during my purchasing process.

IFS incentive will never be listed on any of those sites. True Car, Edmunds, etc only list incentives that are available to everyone, they do not list incentives that require some type of "qualification".

kazilla said:

Does anyone know when $750 IFS cash program became available on the Q50? I didn't see any available incentives in September so I'm wondering if this started in October? I checked Infiniti website, true car and Edmunds/kbb at the time and didn't see any incentives.

Just want to make sure I didn't miss out on anything; it certainly wasn't listed out as ak one time or mentioned at all during my purchasing process.

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I bought my car early September and the $750 was there.

ejhyun said:

IFS incentive will never be listed on any of those sites. True Car, Edmunds, etc only list incentives that are available to everyone, they do not list incentives that require some type of "qualification".

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Thanks - if the $750 incentive were used, would it have been something that must be listed as a kine item in the loan docs or is it something they could have shoveled under the carpet? I ask because my wife and I read the loan docs and terms of the deal closely and didn't see any mention of the $750 in any itemized fashion.

basically I'm wondering if it's something they have to break out in the paperwork or if I possibly received the cash as part of the "selling price" if they are not obligated to report how they arrived at said selling price?

The IFS incentive is not a customer incentive, it is a dealer incentive so it does not have to be disclosed.

ejhyun said:

The IFS incentive is not a customer incentive, it is a dealer incentive so it does not have to be disclosed.

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I see, thanks. More than likely they utilized it when agreeing to our final price (which other dealers wouldn't even sneeze at). I'm still happy with the deal but had I known about the $750 I might have been able to save a tad more. Then again, it's pretty negligible once you're already well below invoice (especially in mid-September). I don't mind them making a little money.

I took delivery of my Q50s today (Graphite Shadow), and received the $750 incentive. I specifically asked the finance person if I had to wait 3 months to pay the loan off because I had read on (this) internet forum that the dealership would get screwed if I paid it off any earlier. He said there is no such thing - no penalty for them (nor for me) if I pay the loan off with my first payment.