Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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Any Questions for a Car Dealer?
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But what is the typical time to get funded from say a carmakers finance arm.
A few days seems extremely fast. Heck, often good checks don't clear that quickly.
TB
Not exactly but pretty close...
Bob brought up that if a dealer wouldn't accept his personal check, he'd go elsewhere. Why? I wouldn't accept a personal check from anyone for $25,000, either - would you? AND give them something valuable?
We only accepted personal checks, at every dealer I worked at, if we could call and verify the funds (unless we knew you through repeat business) or run your credit or Tele-Chek.
You can't honestly expect a business to trust ANYONE these days with a $25,000 personal check, now can you?
And no, I wouldn't want to hassle someone with a personal check. If I were paying that way, it would be a cashiers check so the dealer didn't need to worry.
Although another really interesting inconsistency was when I was closing on my house. You had to bring a cashiers check for the amount I had to pay at closing.
I thought that was pretty funny, I'm trusted to take out the mortage and pay it every month, but my personal check wasn't good enough. If they didn't trust me, why were they loaning me the money, LOL.
TB
Bobst says a dealer should only accept cash...but that only applies to other people and not him?
One or two "e-loan" banks will do this and from my point of view a wire transfer is non reversible.
fjb
makes ya fill out those fed. forms on any cash
transactions over 10 grand ! I suppose there
are a few extra dealer forms to fill too.....
A Nissan dealer here in Syracuse NY got bagged
and lost his dealership over this amongst odo
fraud etc. by taking installments of $9,999 bucks
in 3 payments to avoid the Fed. rules! They all
did jail time !....................geo
BTW: Isellpontiac know who I am talking
about...His dealer group got the guys BMW
franchise after the dust settled.....
However, they may choose to accept personal checks, credit cards, or whatever. Those are my kind of places.
Of course, I don't expect the dealer to operate to suit my desires. If they don't, then I go someplace that does.
We only accepted personal checks, at every dealer I worked at, if we could call and verify the funds (unless we knew you through repeat business) or run your credit or Tele-Chek.
You can't honestly expect a business to trust ANYONE these days with a $25,000 personal check, now can you?"
Can you honestly say that you should demand that a dealer take your personal check without hesitation when they only met you an hour before?
Come to think of it, the sales manager knew my wife because she used to work at the school his kids attended. However, other dealers have accepted our checks without any problem.
Why would I go somewhere else if the dealer refused to accept my personal check? Because I feel like it. I don't have to justify my actions.
Nope, I would never "demand that a dealer", or anyone else, do anything. However, from my experience, when car dealers want our money, they can be very, very, very agreeable.
I wouldn't take your check - I hardly know you - why should a dealer? My only point...
Town Hall New Look!
kcram
Host
Smart Shopper and FWI Message Boards
I stopped by 3 dealers today and showed them my draft--each said they would gladly accept it.
Mackabee
They balance their desire to have my money against the possibility that my check is bogus, and decide to accept my check. It is as simple as that.
If they decided not to accept it, I would not be in the least upset. In my neighborhood, there are other places that sell cars.
To have you use whether they take your check or not as a basis for the decision to buy a car is a no-qualifier. It's not a relevant factor, since you aren't paying with a bank draft, credit union letter, pre-approved financing or financing with them.
The funny part was when the bank called me at work on Wednesday to make sure I wrote the check.
John
Of course, when people come to test drive, I never ask for their car keys, because I figure if they steal it, I'll get more from the insurance than I'm asking for. Just look at Manamals story on his Saab. Apparently, you could do quite well for yourself if you keep buying new saabs, and then Total them.
I actually liked the car - I got it cheap through the dealership - a trade in with 120K on it, but really sharp looking and well-maintained.
USAA is a great organization, you probably won't have any problems.
We take personal checks all the time. We have all the person's drivers license information and their home/ work addresses before they leave here anyway, so its not like we couldn't find the car if we had to.
We had someone last month buy a car with a fake cashiers check. I hope they are enjoying their time getting to know the nice men from the secret service.
Ed
The credit report tells it all!
Car_man
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Smart Shoppers / FWI Message Boards
I think what abtseller says makes sense, all the important information is written on the contract already. Dealers can find the buyer if the check bounces (I don't think it has happened before though).
I have a question/scenario. Let's say I go to my bank and say I want to buy a car with the money in my account. They give me a cashier's check for $20,000. I buy a car for $19,000, does the dealer do with the $1,000 they now owe me? What if I buy a car for $25,000 on a Sunday (so they can't verify funds), is my personal check for $5,000 now good enough to supplement the cashier's check?
: )
Mackabee
Port Lavaca - 30 miles from Victoria.
Paul
Cool little town.
I'm a sucker for tradition.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
The dealer bought my car back and gave me full refund. It looks like there was a big miscommunication between service and sales.
There was another sales manager who was very helpful in getting my car problems resolved during the ownership period. He regained my trust, and I bought my 03 Civic Coupe EX from him - with bunch of accessories.
Problem resolved and happy. Luckily did't need a lawyer.
Lesson - do your homework and know your rights. Be flexible, reasonable, and compromising. - I don't think yelling and screaming gets anything resolved.
Ed
You did good .. you handled it in a professional fashion - you always get more flys with honey than you do vinegar .. Gooood job.!
Terry.
In addition, the company has agreed to comply with the following business practices:
To honor the negotiated terms of retail buyer's orders, leases and/or sales agreements which have been reduced to writing and signed by both the customer and the dealership representative;
To provide consumers with copies of all contracts and documents at the time such documents are signed.
To disclose orally and in writing to consumers the terms of spot delivery (i.e., when the vehicle is delivered prior to final approval of financing/leasing arrangements), and to inform consumers of the final decision promptly after it is received by the dealership.
To require consumers to purchase credit insurance only when required by the lender.
To disclose the prior history or damage with respect to used vehicles when known to the dealership.
To honor prices and/or terms as advertised.
To disclose at the time of sale the purchase price to the customer and the terms of after-sell items such as extended warranties, service contracts and/or insurance, and not to represent that such items are mandatory if they are, in fact, optional.
To have consumers sign documents only after they have been completely filled in.
To disclose known facts to the purchasing customer with respect to the condition of used vehicles.
To refund any overpayments of fees for registration and titling of the vehicle within a reasonable time after all actual payments are made.
To pay off in a timely manner balances due lien holders on vehicles accepted as trade-ins (when defendants have agreed in writing to do so).
To secure and provide to consumers, if applicable, titles and registration documents in a timely manner.
To provide a true and accurate statement of mileage of vehicles purchased to the best of defendants' knowledge.
In June 2001, the state alleged the dealerships engaged in activities that violated the State's Consumer Fraud Act, Used Car Lemon Law, and federal odometer disclosure laws while selling a variety of vehicles.
Besides the bad press, the dealership had to fork over $450,000 to cover restitution expenses.
Hopefully, they have turned over a new leaf.
When it was time to shop for a new car again, I went back to the idea of the sports coupe. The new Accords, I felt, were ugly (but nice ride). I had concerns about used Preludes being driven hard. I didn't like the RSX as much as the Prelude. I was distantly considering a Civc. What sealed the deal was the 1.9 APR (with no money down). That made it really cheap. Since I couldn't find the exact car I wanted, I thought I save money and go with the cheaper car. Besides, the Civic satifies all my PRACTICAL needs, and its still fun to drive. And I will be few $$$ closer to a BMW M3.
I've seen many cases where people would put a $30,000 car on the AMEX to earn skymiles and get really miffed if the dealer wants the *** $1,500 fee*** for using the AMEX (5% fee!!)
I've seen where they have a credit union loan sitting, use the card, then pay the card off with the loan and pocket the skymiles. Cute trick, but you can't expect a dealer to lay out $1,500 because you want your skymiles and you won't write a check or get a loan.
On the other hand, I've accepted $1,000-3,000 downpayments on a credit card without a problem. $30-60 is much easier to deal with than $1500.
: )
Mackabee
If you get a Subaru card, you could get $90 back right there, and pay for maybe 3 oil changes. That way the money goes back to the dealer, anyway! LOL
-juice
I used FordDirect.com to browse the local Explorer inventory. I saw that 4 dealers in the area had a car that I would be interested in. I used the Get a Quote button for each dealer to request a quote on a specific VIN.
This starts a process where you get an email from FordDirect.com telling you that the dealer will reply to you soon. You then get another auto-email from the dealer saying that they will respond to you soon. This is all pretty much standard, automated stuff.
One internet manager got back to me in a few hours. He said that his customers love his no-haggle/no hassle process. He wanted to know when a good time was to contact me with a quote.
Since, we were corresponding via email, I said "Now is a good time. Give me a quote now." A little bit later, I also asked him to include the details regarding a 36mo. lease.
He writes back saying that he can't give me a quote via email because of "too many variables on options.". He wants me to call him.
I thought the FordDirect.com was not working correctly because I requested a quote on a specific VIN. Maybe the email sent to the dealer just said "Give me a quote on a base Explorer."
I called the guy and told him that options were not variable because I gave him the VIN on the car I'm interested in. He tells me that he doesn't like people printing his emailed quotes and taking it to other dealers. Do people really do this? Whatever ... It doesn't matter because I don't do that.
I asked him what his price was. He then tells me that I have to come in to the dealer for the price! Now, I was getting annoyed. I told him that the whole point behind my emailing him was to avoid driving to multiple dealers. He then says that he'll give it to me at invoice, but he might be able to do better if I come in.
I thought I was hearing things! I pull his email and read the "no haggle/no hassle" part to him. Now he has to talk to the general manager. He comes back and gives me a price below invoice.
Couldn't he have just emailed this number to me from the start? He seemed like a nice guy. I just don't understand why getting a firm number from him was like pulling teeth.
Sorry for the long post. I wanted to provide as much as detail as possible so I can get your sell-side perspectives.
Thanks,
Peter
This is EXACTLY why any money GM spends on BuyPower or Ford on FordDirect is a GIANT WASTE!
The dealers' MINDSET is just set 100% AGAINST the idea that they should give up prices of vehicles the way Amazon does of books!
Sure, there may be ONE OR TWO folks out there that will "send" something that looks like a price BUT SHAZAAM you show-up at the dealer with the CHECK ALL MADE OUT & you STILL have to go sit in the "sweatbox" with the F&I GENIUSES!
Heck, even if you were to waltz into the showroom with a FAX that had a VIN & Price I doubt that even 5% of dealers would "believe you".
In the defense of the dealers, we've all heard of "inconsiderate buyers" that expect one guy to put up with a dozen test drives, and then go get a deal that is $50 bucks less from another store.
It clearly DOES NOT sound like viper0074 is trying to do THAT...
What gives DEALERS, any hope for a "painfree internet buying experience"???
BTW With Saturn now resorting to rebates, I wonder if that division is still on the 'leading edge' of uniform pricing?
My brother had a 1984 Mercury Lynx with a Nissan carburetor 1.6L 4 cylinder and a 4-speed manual transmission. It was front wheel drive and had a full steel frame. So did the Escort for 1984. The Sentra with the same engine was a unibody. Out of all 3 with manual transmissions, the Lynx did the best on gas mileage, even with its full steel frame. It got 50 m.p.g. on the average highway and 54-55 m.p.g. on long interstates. Not even the unibody Sentra did that well! Why not? It was lighter.
Also, like full frames, steel bumpers helped to provide sufficient weight and strength. It is even better than the unibodies with traction control. It has been my experience. Even the national news has seen and reported this.
Instead of dropping full frames and steel bumpers, all car manufacturers had to do was to add just enough stainless steel in with the standard steel to prevent rust and corrosion. It is in case car manufacturers try to say it is why they have done away with the steel hardware.
I live in a state that used to boom with steel plants and mills. This change in car mterials has forced them to have to close down. It put a lot out of work. But I saw one thing.
The lighter, weaker cars' plastic or fiberglass "bumpers" cost more to replace than the steel ones. And due to being lighter and weaker, they are more likely to be in accidents than the older, heavier and stronger ones with the steel hardware. That way, car manufacturers can keep selling people new cars and charging more for parts.
Even the new headlight covers that cover small bulbs cost a lot more than the halogens of the 1980's. Trust me. Car manufacturers are not dumb! They know what they are doing. And it is not to improve fuel economy. It is to pocket more money. It is also why cars are more computerized now and harder for an owner to do repairs one's self. It is so the dealers nave to do it. The owner loses. The dealer and manufacturer wins. There is more.
What is the real purpose of the small temporary tires? It is instead of a full size spare. It is more money for mechanics and dealers.
Older cars built heavier and stronger did not need air bags. The full frames and steel bumpers provided enough protection. And the oder cars were wider. So, they had better balance and traction. It is also a way for car manufacturers to be able to charge more for cars. It is by omitting the heavier, stronger parts and replacing them with lighter, weaker, more expensive ones. It is why they had to add air bags. But if they deflate, see how much it costs to repair! The same goes with newer cars' computers. Why are car manufacturers that greedy?
I admit. I do not know or have the answer. I hope someone else does. It is all I have.