And the Final dealership bs begins..
02-15-2011, 05:27 PM
#1
3rd Gear Member
Thread Starter
Join Date: Apr 2007
Location: Worcester County, MA
Posts: 853
And the Final dealership bs begins..
Okay so it's been well over a week now since I first went in, checked the GT out, filled out my credit app and had my fathers credit app processed.. finally got approved this morning. Now this is what pisses me off, I still haven't gotten an answer on what interest rate is going to be.. what they are going to give me for my car.. and now they are telling me that since I put money down on the car ($750) they assume I didn't want to finance my taxes already in my loan to pay for the new plates, so the bank won't pay for the fees and junk, it's gonna be around $1200+.. I'm from MA, and the dealership is located in New Hampshire just fyi.
The mustang I have now wasn't this much of a bitch to get all settled... anyone else deal with this BS or am I just hopping the gun and it all sounds right...?
The mustang I have now wasn't this much of a bitch to get all settled... anyone else deal with this BS or am I just hopping the gun and it all sounds right...?
02-15-2011, 06:52 PM
#2
1st Gear Member
Join Date: Jan 2011
Location: CA
Posts: 136
The interest rate is no diff. than the price of what you are going to get for your trade-in... meaning that they can give whatever they want (with respect to the creditors regulations).
I would suggest, not necessary though, getting a quote from a credit union to help you battle down the rate they do eventually give you...
If they want to keep shoveling you BS, take your business elsewhere... they aren't the only ones who sell 'stangs ; )
Good luck!
PS also, go to edmunds.com and KNOW what the actual invoice of the car was, then decide what you feel is a fair profit for the dealership and offer that. And if it is a 2010 still on the lot, they will go way below invoice even because they want it gone, YESTERDAY!!!!! GL!
I would suggest, not necessary though, getting a quote from a credit union to help you battle down the rate they do eventually give you...
If they want to keep shoveling you BS, take your business elsewhere... they aren't the only ones who sell 'stangs ; )
Good luck!
PS also, go to edmunds.com and KNOW what the actual invoice of the car was, then decide what you feel is a fair profit for the dealership and offer that. And if it is a 2010 still on the lot, they will go way below invoice even because they want it gone, YESTERDAY!!!!! GL!
02-15-2011, 07:00 PM
#3
3rd Gear Member
Thread Starter
Join Date: Apr 2007
Location: Worcester County, MA
Posts: 853
KBB sayes the invoice is $27000, and they are selling it for $22500. I just feel they are keeping something out of this business deal. Like why havent they told me what they would give me for my car yet and such..
02-15-2011, 07:11 PM
#4
1st Gear Member
Join Date: Jan 2011
Location: CA
Posts: 136
In the time you wait for an appraisal on your used car, you could just sell it yourself and get MORE money for it... they always get you on trade-ins; I will never trade in a car or ever recommended it. (I used to work for a toyota dealership)
02-15-2011, 07:43 PM
#6
3rd Gear Member
Join Date: Nov 2010
Location: CA
Posts: 505
Take it slow.
The LAST thing you want is them boning you because you're too eager
How old are you? If you're inexperienced in finances, ask your dad to go with.
My purchase experience was decent. Got through the finances in one sitting. Guy was pretty straightforward, except the fact that he tried to hit me with some crazy *** rate (though my credit was excellent and I also had my mom as a cosigner) and then kept saying "I had to pull a lot of strings for you" just to bring it back down to the rate I expected.
The LAST thing you want is them boning you because you're too eager
How old are you? If you're inexperienced in finances, ask your dad to go with.
My purchase experience was decent. Got through the finances in one sitting. Guy was pretty straightforward, except the fact that he tried to hit me with some crazy *** rate (though my credit was excellent and I also had my mom as a cosigner) and then kept saying "I had to pull a lot of strings for you" just to bring it back down to the rate I expected.
02-16-2011, 02:46 AM
#8
3rd Gear Member
Thread Starter
Join Date: Apr 2007
Location: Worcester County, MA
Posts: 853
I'm more of the fact tired of driving my *** up there to get answers and I keep getting fed BS replys. Today will be a make or break day for them whether they want to compromise.
02-16-2011, 07:54 AM
#10
ive sold cars in the past. they are trying to use tricks on you. they want you to be in love with the car and accept other things.
they havent told you what they are giving you for your car, which is something they would know right away. they haven't told you bc they want to wait as long as possible and then just tell you "we are giving you $4k for your car" and have you accept it. the car may be worth $7k and if they give you $4k for it, thats $3k more gross they get in the front end of the deal. dont settle for less than what you ACTUALLY believe the car is worth. if they offer you a really low amount, have them tell you why and actually show you. most likely they use black book or an online guide, so have them show you where it shows the value.
they are lying when they say the bank wont play for the fees. you can finance any amount you want, depending on your credit (and your cobuyer) and your income. there are guys who roll over $5k in negative equity with no money down and the bank buys the loan. they just are trying to get you to finance less of the money and have your monthly payment be lower (thus looking like you are getting a great deal).
remember, car dealerships will try to negotiate on a monthly payment. that way if they get you where you want to be per month, you buy. you said you are getting the car for $22500. sounds good if the invoice is around $27k. so take that $22500 and go to online calculators for monthly payments. that way you can figure out what your monthly payment should be for a certain interest rate and with a certain amount down/trade value.
you buying the car in NH and living in MA is no problem. they can do the tags and titling for you. i live in VA and i sold a car to someone who lived in Alaska. we did all of the paperwork and had the car shipped there.
are you buying a new car or used? if its new, you should have an idea of an interest rate.
they havent told you what they are giving you for your car, which is something they would know right away. they haven't told you bc they want to wait as long as possible and then just tell you "we are giving you $4k for your car" and have you accept it. the car may be worth $7k and if they give you $4k for it, thats $3k more gross they get in the front end of the deal. dont settle for less than what you ACTUALLY believe the car is worth. if they offer you a really low amount, have them tell you why and actually show you. most likely they use black book or an online guide, so have them show you where it shows the value.
they are lying when they say the bank wont play for the fees. you can finance any amount you want, depending on your credit (and your cobuyer) and your income. there are guys who roll over $5k in negative equity with no money down and the bank buys the loan. they just are trying to get you to finance less of the money and have your monthly payment be lower (thus looking like you are getting a great deal).
remember, car dealerships will try to negotiate on a monthly payment. that way if they get you where you want to be per month, you buy. you said you are getting the car for $22500. sounds good if the invoice is around $27k. so take that $22500 and go to online calculators for monthly payments. that way you can figure out what your monthly payment should be for a certain interest rate and with a certain amount down/trade value.
you buying the car in NH and living in MA is no problem. they can do the tags and titling for you. i live in VA and i sold a car to someone who lived in Alaska. we did all of the paperwork and had the car shipped there.
are you buying a new car or used? if its new, you should have an idea of an interest rate.