Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/25 for details.
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/25 for details.
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Oh wait never mind just something in my eye.
I shed no tears for Maserati BiTurbos. Those cars are processed by evil and live off the blood, tears and money of humans.
Your thoughts?
Steve, visiting host
When I was a kid, a close friend of the family had an Econoline conversion van by "Country Cruiser" (I think) of Elkhart, Indiana. It was very plush and loaded with gadgets, and I thought it was pretty cool. It was a handsome dark blue on dark blue, and was pretty expensive no doubt, back around 1988.
My aunt and uncle also had an Econoline conversion van, similar colors, but by "TrailWagons" in Yakima, WA. I think they are gone now, too.
To be on topic, I bet some of these old vans have met their fate with C4C.
No one HAS TO do what any saleman or sales manager asks in terms of paying a specific price.
That's what makes a market.
I see this CFC program has enabled dealers. It's almost as if they're able to command and control consumers, and that the consumers have lost their minds, logical thought process and all manner of good negotiating sense.
Folks, this is a bad time to buy a new car for the majority of people, with or without a trade-in, even including a "qualifying" clunker (I say MOST people).
I'd rather buy a used car - any used car, so long as it runs well, than even attempt to buy a new car, if I NEEDED a car at this point.
Bide your time. Dealers have always had to negotiate hard to gain sales and this normalcy will return once this temporary insanity wears off.
There's empirical evidence that the effect of CFC is already waning, and economy studies done showing that expanding it won't do much good.
This has been one clunker of a bill for everyone but dealerships.
Look for the true deals to come about after dealers restock and production ramps back up. It has to, or the economies of the U.S., China, Canada, Mexico, Japan, Germany, Korea, etc., etc., etc. will literally go into full tilt depressions.
The workers get angry and the politicians nervous when idle hands grow.
It's going to be a very dry season for new car sales now that a whole lot of pent up demand has been satisfied in such a short period of time.
Buyers' market soon...
Just looking at your last ten posts you just post the exact same thing in thread after thread.
The reason that it was denied was the registration had expired on july15 and my deal was made on July 26. I asked if I needed to get it renewed but he said not to worry. i turned in my registration to him with the expired date on it. He took it and sold me the car.Now looking back on it....he must have known that it would not pass and I would now be stuck finding 3500 which I dont have. He want give me any options accept paying 3500.
Any ideas on how to proceed?
Just looking at your last ten posts you just post the exact same thing in thread after thread.
Yeah, he's afraid someone might not have read it in the other threads.
Q: A dealer has demanded that I sign an agreement that requires me to pay the dealer if the credit application is rejected because I submit incorrect information regarding my name, residence address, driver's license number, or the title to my trade-in car. Am I required to agree to this?
A: No. However, be aware that to participate in the CARS program you must certify under penalty of law that all information you provide is true. If your CARS program credit is denied because of a false statement made by you, the dealer may take action to recover the money or vehicle regardless of whether you sign such an agreement.
http://www.cars.gov/faq#category-03-5
I asume you had to certify that the car had been continuously registered for a year and did so, even though this was not a true statement at the time.
I am so tired of hearing these sky is falling predictions. :sick:
However, it was the car dealers fault to still write the deal when he knew the registration was expired. An ethical dealer would have said, "Sorry, you don't qualify".
My guess is there are dealers out there writing C4C deals that they know won't go through thinking they will then get the customer to pay up the difference either through intimidation or simply not wanting to go back to their "clunker" after driving a brand new car for a couple of weeks.
It's that kind of dealer that gives the whole profession a bad reputation.
Please do the right thing, and return the car pronto. You are trying to take advantage of a dealer who was trying to give you a break. All he has to do is report you to the Credit Reporting Agency and you will not be able to get a car loan.
Dealerships really don't have that much energy or patience to go through such hoops as you suggesting.
Shame on the dealer for not getting the corrct information, but it is a new program that everyone is on a learning curve....
I can promise you that this is no picnic for the dealership dealing with your issue/ they can collect the money..... loose the money and let you keep the car.... or reposess the vehicle....
I feel bad for your situation, it can not be happy one for involved
GP
For example, my '69 pickup's registration expired end of July, 2009. If I renew any time through July 2010, my registration is effective August 2009 through July 2011. If I wait until August 2010, I have to re-register it and will receive a new registration period of August 2010 through August 2012.
You might want to check your state's motor vehicle regulations before you resort to something drastic as there are usually grace periods associated with vehicle registration renewal.
GP, from your posts I would not think you would even consider doing such a thing.
However, there are a few dealers who I think would do this. For him to write the deal when the registration was expired, IMO he either thought:
1) He could get the customer to pay the difference, or
2) The government would not be a stickler for the rules.
Am I missing another possibility?
HOLLY CRAP!!!!!! Did you really mean $28K for a 70K mile cargo van with a couch and a TV in it? There is no way they paid $28K. Well I guess there is but damn that is an $8K piece here in Middle TN.
I am not trying to embarrass you or your friends I just find that amazing.
No it doesn't. What it says is if the consumer issues fradulent information in an attempt to get the money then the dealer can pursue them + the consumer is can be fined and put in jail.
If they were not fradulent then there is not jack the dealer can do to them.
Be aware that to participate in the CARS program you must certify under penalty of law that all information you provide is true. If your CARS program credit is denied because of a false statement made by you, the dealer may take action to recover the money or vehicle regardless.
I had that Van wired up to a VCR, my original NES and an antenna for over the air TV.
I wouldn't be too surprised that a conversion van in good shape goes for stupid money.
Those old VW Euro vans go for more money used then they sold for used and they are just the yuppie European version of a conversion van.
But yeah, I thought it was high dollars too but these guys shopped for over 6 months in 4 states trying to find one that hadn't been trashed out.
The CFC clunkers I think is a big rip off for the consumers. Being an educated consumer doesn't not help either. It just instilled on me the reputation of dealers/car salesman as sharks and unscrupulous. I understand their business and the games they played. Why is it that the 1st thing they asked is if you have a CFC? If you do, why is it that negotiation starts at MSRP. I understand they don't need to sell their vehicles or they can pick and choose because they're high and almighty right now,. I believe that most purchased cars at MSRP or over. The gen/internet mgr were not even listening to me because they're so focused on making money. I was going to ask the gen mgr to set our goals (dealer profit, consumer save $$) aside for a minute and discuss the actual numbers. In my estimate, they're making $1600+ margin. Dealers are taking the approach that they're giving CFC money. When did it became a common practice to only negotiate MSRP. Also, I was told that if I can't find my title that I have to sign a waiver and pay $4500. I am reporting the dealer to a local TV news, BBB, CFC, consumer affairs, fed agency, and the manufacturer. I don't want their vehicle or business even if it's free.
Further suggestions and comments from others and Edmunds is appreciated.
Negotiations on a car price can start anywhere the dealer pleases. He can ask for $10,000 above sticker if he wants.
You had nothing in writing, so there was a misunderstanding. Apparently the salesman thought you were trying to chisel another $200 from him, which is unfortunate. Did you really expect him to take your trade in for CFC without you having title to the car? That is a bit unreasonable, I think.
I would forget about complaining and move on to another dealer. Get everything in writing, put down a deposit, and you won't be disappointed next time.
That's ok - "The final rule stipulates that the insurance requirement is satisfied as long as the trade-in vehicle was insured, regardless of the identity of the individual holding the insurance policy."
So your corporation should be able to buy a new car using the trade-in as a clunker. The feds shouldn't care whose name is on the insurance so long as it meets the year requirement.
Usual disclaimers - you're dealing with the feds, after all. :shades:
Steve, visiting host
I now want to know where my clunker is? If I have to bring back my 2009 car, which we have had for over a week.!!
Anyone in our situation? Or alreadly been through it? Please let us know what we need to do. OR do we have any other avenues? We did put down 1500.00 cash as well. The contract says we will pay .30 cents per mile,....For the new car usage!?? Again the first words out of our mouth was the no credit!! What if my clunker was destroyed?
More to the point, though--I find it difficult to believe that the dealer couldn't get the deal done with any lender, with $6000 in equity up front. Something is missing from the story.
What kind of new car is it, and how much did you agree to pay for it? Do you have verifiable regular income that is appropriate for the purchase of a vehicle in this price range? Aside from a lack of credit history, did you have any past credit problems that might cause a lender to avoid doing business with you?
There's something fishy with this deal.
You may have to put more down as a down payment, but that would be smart on your part, lower payments and you can finally start earning a credit rating.
Why are you worried about the clunker you traded in? I am sure it is just gathering dust on the back lot of the dealer. If not, he owes you the $3500 or $4500.
I'd really LOVE to take advantage of the cash for clunkers deal on our 1993 suburban, BUT, just realized that we put it in our daughters name 8 months ago to save on insurance. ( we insure 6 cars and can get multiple vehicle discounts for 3 insured in 2 different names) It's such a pity that this small technicality makes us miss-out. My husbands been driving this vehicle continuously since 1993 and it's always been insured. Even though it's in our daughters name, all the paperwork still carries this address. Our daughter is a college student, so, is still a dependent.
Is there any way to appeal to the "powers that be" and get this clunker qualified?
I believe you are referring to "reposses the vehicle"....
You are correct I wouldn't reposess the vehice myself but the owner / General Manager might think about doing it..... In the end my opinion is the dealer should eat the difference because they were the ones who made the mistake... shame on them...
My opinion is about this program is that it is a good idea/ good program, but was adminstered horrible.
In any business, when ever it is the busy time of the year you have stress....
GP
It is the internet mngrs job to get you in store.... Shame on him for not having acurate prices, I am sure he will hear about it.
As for charging MSRP.... Why not pay it? That is the retail price of the vehicle. Dealers discount vehicles to be competitive in the market place. The market is busy, supply is low and that raises costs to the consumer. All you are seeing is the effect that the market is up. You can purchase a vehicle at any time of the year. As for the CFC $ the dealer is on the hook for that money, I understand you are upset but I think you are putting to much time and effort into contacting all of those agencies.... In the end a dealership has every right to charge what ever they want, If they upset you in the middle of that process.... there is nothing illegal about it. all they did was hurt your feelings because you thought something else.
(this is not directed at you)
The theme I am hearing on these baords and in the showrooms is that "everyone deserves something" and the dealers should pay for it because the economy is bad, dealers are not selling cars. blah, blah , blah
Why don't dealers deserve full list on a vehicle when the market is hot?
GP
The difference is that C4C skews the market and it may appear to some that the dealer is trying to cut into the $3500-$4,500 taxpayer contribution. The perception is that the dealer is already making a sale that he/she probably wouldn't have made at the time and is getting greedy. It has little to do with "ordinary" markets where supply and demand rule without third party intervention.
tidester, host
SUVs and Smart Shopper
As a side note, both of you will want to make an effort to establish a FICO score. There is a lot of good info on the web as to how to do so. Chances are you are paying a lot more in car insurance by not having a score, not to mention if you want to buy a house sometime in the future.
Good luck!