Got a Quick Question for a Car Dealer?

greanpea68

That's my take on the whole matter. I don't think the repairs are a big problem at all. It's your money that is holding things up. Financing with the dealership may raise your payment a little, but it is MUCH simpler than using one of these "draft" checks.

LOL....

I was thinking the same exact thing Moo...

GP

greanpea68

That's my take on the whole matter. I don't think the repairs are a big problem at all. It's your money that is holding things up. Financing with the dealership may raise your payment a little, but it is MUCH simpler than using one of these "draft" checks.

LOL....

I was thinking the same exact thing Moo...

GP

greanpea68

For my part, I don't want to officially sign for the vehicle until I know if/when the strut repair will be done, and until I got the papers detailing what was done to recondition the vehicle. (I just got that today, finally.)

(Financing with the dealer wouldn't raise our payment a little. It would lower the payment, but double the term, and the interest rate was higher, resulting in thousands of dollars of extra charges. Simpler for someone, maybe, but not in our best interest, is it?)

That is the problem at hand.... As moo and expressed earlier These draft checks are a pain in the a$$ with all respect. Make things easy, finance with the dealer than refi at another time. Cap One makes it sound very easy but believe me it isn't. my dealership won't allow them anymore because Cap one bounced the check and it took 2 months for us to get our money while a customer was driving there new vehicle. If I were the dealer and my customer has a draft check but didn't want to sign or go through there own credit union or own bank or finance with me I am not sure I would put the vehicle through the shop untill the vehicle is all paid for. As I mentioned earlier I would either sign the draft over to them or (what to make things easy) finance with them. Ask for a shorter term see what else they can do. You may have gave the impression to the dealer that you are not financing with them.... I don't know. sometimes it isn't bad to finance with a dealer but to each his own.

GP

bolivar

You are recommending the buyer go with twice the term and a higher interest rate, just to quickly close on a used car?

This sure looks like clubbing the baby seals, in my opinion.

I would walk away. Ask for your $100 back and see if they stop you on the way out. If they call you back, demand the same financing you are getting on your draft. If they really want to sell the car, they will match it.

Also, the repairs - make sure you get any needed repairs IN WRITTING, signed by the sales manager, before you finalize the deal. Otherwise, I bet you never get anything fixed after you drive it away.

lemmer

I always use checks from my credit union, whether it be a cash payment from my account or a loan. I've never had any problems. I would completely advise against financing through the dealer unless they offered identical or better rates and terms. I'd consider walking away from this deal if for no other reason that you are uncomfortable with it.

Mr_Shiftright

Is there an '05 Pilot shortage in America? :P

I'd blow the dealer off and continue shopping. Even if the dealer has concerns, he should have explained what's up.

explorerx4

anything i get from the 'whats in your wallet? folks', goes directly to the shredder.
they have taken to sending unmarked envolopes to get me to open them. :mad:

bizarrogirl

Thanks for everyone's input. I feel slightly more patient knowing that it might take 10 days after we sign our draft, although I still don't know what they've been doing exactly for the last week. Perhaps there was a miscommunication, since I wasn't in on the final meeting. (I was outside, juggling my two small children. Almost literally.)

I don't think there's a Pilot shortage. But this is the best one we've seen (clean, one owner, good Carfax, low mileage) at a price below most of the estimates I've seen. Also, having one car now, and two small children, car shopping is excruciatingly inconvenient. So we're hesitant to walk (again) and start over for a third time. (The first time, the dealer offered us 19% financing.)

Thanks again for everyone's input. I hear really mixed reviews on Capital One, but the terms they gave us were leaps and bounds beyond what we've gotten from anyone else. We've had good customer service experiences with them (with our credit cards) so I can't see a reason not to use them.

madmanmoo

Well, this is a little bizarre then. You haven't signed over the 'draft' to them yet?

I'm sure this is why they haven't started repairs. I would be mirroring what GP said.

Get that draft signed over and get the process started. Try to get a straightforward explanation of what is going on from the dealership as well. If you can't seem to get a good feeling from them, then just walk. As Shifty said, there are plenty of those out there.

Again, good luck!

Also, in regards to the interest rate from the dealership.. . . :surprise: Take CapOne's rate, 19% financing is brutal.

lemmer

Moo,

Why wouldn't the dealer fix the Pilot regardless? Why wouldn't they get started on it the day it came in. It isn't like it is '78 Nova. People expect an '05 Honda to be in perfect working order.

madmanmoo

I'm not sure. It may be out of warranty and they don't want to pay for it unless the deal makes sense. Perhaps the OP's husband noticed something wrong and asked that it was fixed. I don't think I have enough information to answer that well enough.

Speaking of Novas, I would like one of those.

kyfdx

I think I'd ditch that draft, and obtain a financing commitment from a local lender. Someone that can fund the loan immediately.

Then, shop around for another car... There are a million Pilots out there, and probably half of them are in great shape... Why screw around with these guys?

Mr_Shiftright

At least you can fix a '78 Nova without a degree in rocket science. "Look Dad, I can see a spark plug!"

jerman2020

I recently read that Chrysler has raised prices on all of their 2009 vehicles by $500. They say this will not affect prices on 2009 vehicles already on dealer lots.

OK, i have a few questions about this. Does this mean there could be 2 identical cars on a dealer lot, one of which is selling for $500 more than the other? What typically happens in this situation?

How can car buyers take advantage of this so they can buy the one that is still cheaper? Do dealers sellout of the cheaper model quickly when prices are raised?

any other insight would be appreciated.

madmanmoo

Yes, there could be 2 identical cars, priced differently.

How can you take advantage of that? Just find the one that is cheaper. Ask your salesperson or search on your own.

greanpea68

You are recommending the buyer go with twice the term and a higher interest rate, just to quickly close on a used car?

This sure looks like clubbing the baby seals, in my opinion.

I would walk away. Ask for your $100 back and see if they stop you on the way out. If they call you back, demand the same financing you are getting on your draft. If they really want to sell the car, they will match it.

Also, the repairs - make sure you get any needed repairs IN WRITTING, signed by the sales manager, before you finalize the deal. Otherwise, I bet you never get anything fixed after you drive it away.

Not what I am suggesting at all.... I am suggesting that she is trying to use a draft check. Not a favorable move for a dealer. I also suggested for her to talk with the dealer to see if there was anything they could do. If all else fails... finance with the dealer to get the vehicle that they want and than rifinance :shades:

gP

greanpea68

I always use checks from my credit union, whether it be a cash payment from my account or a loan. I've never had any problems. I would completely advise against financing through the dealer unless they offered identical or better rates and terms. I'd consider walking away from this deal if for no other reason that you are uncomfortable with it.

Chances are with a draft check she may be credit challenged... with all respect if it is a draft check. Also in most cases if it is a draft check a dealer will able to match those deals!

With all respect once again it has been in my experience that people will stay with a draft check just to save face. They don't want anybody to know how there credit is.
GP

madmanmoo

That's true, Mike. I've seen people do that simply to save face, but I was also unable to match a CapOne loan from last month. It swings back and forth. Sometimes we can get them, sometimes not.

greanpea68

but I was also unable to match a CapOne loan from last month. It swings back and forth. Sometimes we can get them, sometimes not.

I would be a little nervous if I was a sales rep at a porche dealer and someone says "Oh yeah, I am going through Capital One, they said all I have to do is fill out this check"

When it can't be matched I always think it is the F&I guy trying to hold on to some reserve.... Which I can't really blame the guy

GP

corvette

Are all of the "blank check" financing methods (Capital One and others) considered "draft checks?"

I have one from my credit union, at a rate of 4.75% for 60 months on a used car, but I'm not sure if it would be considered a "draft check."

greanpea68

Are all of the "blank check" financing methods (Capital One and others) considered "draft checks?"


No... but the majority of them are. If you have one from your credit union I would do all the paper work in house. Have you bring the contracts necessary to process your loan to your credit union. And have you come back with a certified bank check!

GP

madmanmoo

Well, we don't have any special rates. So Nissan may have a tiered rate schedule that would be able to help keep business in house. Porsche does not.

Nissan may have Tier 1 credit qualify for 1.9% on 60 months. Tier 4 would 4.9% which would still crush most rates. Nothing like that here. Ahh well.

greanpea68

Nissan may have Tier 1 credit qualify for 1.9% on 60 months. Tier 4 would 4.9% which would still crush most rates. Nothing like that here. Ahh well.


True.... But I think you are being a little courtious with 4.9% for tier 4

Keep in mind tose sub vented rates are for specific vehicles... It is always better to take the rebate and and a buy rate from from a standard bank. At least that is what I always say.... The finance manager may say something else

GP

madmanmoo

Absolutely it is better. Only if you pay the minimum on the loan every month would it make sense to take the special rate sometimes. Cash money off the bottom line is the way to go.

Ya, I may be going a little far with the 4.9%. :blush:

isellhondas

They should just replace those struts!

Anybody who buys that Pilot will want those replaced.

So, it's a DRAFT you have. That explains things.

Most dealers won't take them for the reasons others have brought up and Capital One knows this. I haven't seen one in a long time.

fezo

At least you can fix a '78 Nova without a degree in rocket science. "Look Dad, I can see a spark plug!"

Years ago I had a 78 Nova with the old flathead six. Not only could I see the oil filter which I haven't seen on any of my Hondas, but if I really wanted to I could climb into the engine compartment to get it off....

Meanwhile on the draft checks - I did that years ago - probably from when they first were popular. Probably in 2000 - to buy the old 98 Sebring convertible. Followed a link from here to get the check. I was mildly surprised that they just took it and said fine. Drove it home that night. Paid too much for it but it was fun.

fezo

Oh, and while I'm here, they should absolutely replace those struts. They should have already been replaced before they are showing the vehicle. Who the heck wants to buy a recent used car with something silly like that?

When I bought my Celica I had to replace the struts on the trunk but that was a 9 year old vehicle from a private owner and cost $6,500. 119K to boot. I figure it earned a new set.

chipdaly

The other day when I started my 2002 Audi Allroad and began to drive the car, it seemed like it didn't have much power. Then I realized there were 4 warning lights on the dash. I also realized the transmisson inidicator on the dash wasn't on letting me know if I was in drive, park, etc. I also realized the car felt like it was taking off in 3rd gear and wasn't shifting at all. I tried the manual tiptronic and couldn't shift the gears, couldn't down shift or up shift. Anybody have an idea of the what problem can be. A friend suggested it's electrical and perhaps disconnect and then reconnect the battery???????????//

corvette

Sounds like it's in a "limp home mode" of some sort. I wouldn't drive it if it's not necessary to. My crystal ball is a little cloudy, but I see an expensive repair in your future if you're not under warranty.

Mr_Shiftright

I agree. Get the codes read and see what's up. If you are in the San Francisco Bay Area, I can direct you to one of the few places in America where someone can actually repair an Audi first time out.