With personal checks. Happy to take them. We will have you fill out a credit application and we will pull your credit to make you are are real.
An internet draft is a different story. There are two kinds...the cashable "checks" that we will accept and the ones that are "drafts". No smart dealer will deliver a check on a draft. They amount to a check with strings attached. These can take a LONG time to cash. no thanks!
... **I called Capital One. They said they pay as soon as the check hits the bank, 3 to 5 days at most, and that the sales guy was just trying to pull a fast one... What do you guys think? Sleazy trick or legit concern?** ....
You gotta love these banks ..l.o.l....
Lets cut the half-truths out first ....
"Capital WILL pay 3 to 5 days at most" -- thats a true statement ...
What they forget to tell you is, they pay when they receive the title, and the dealer isn't going to cough that up until they get some $$ .. then they pay 3-5 "business" days, after it been through their system .. which in real time, can be 2 to 3 weeks++, because they use a draft ..... in the meantime, someone is driving the dealers vehicle, they really don't have any money and the bank is cruising for burgers ....
The better way to view this is ... would you sell your home, and then let someone move-in with no money on a promise .....?
..l.o.l..... now you know how the car dealer feels .................. :shades:
Plus Capital One makes the Dealer follow strict guidlines. I know of a deal that I had and had a Capitol One Draft check good up for $25,000. We were under the LTV guideline of 110% but we had to verify everything that the customer told Capitol One (wages, proof of residence, etc..) What the customer gave us was not good enough for Capitol One and had to scatch and dig at the customer to get the information before we got paid. To make a long story short we swithched the customer to one of our banks at the same rate as Capitol One to save the hassles.
Actually.. most local banks won't match the rate.. You may be able to get a similar rate from a credit union.. Or, your dealer may have a bank that will match it, but the place that has your checking account probably won't... even for their own loyal customer...
Some of the local banks are getting tired of watching these internet companies bite into their business and have responded by matching their rates. I know I would gladly pay a half point more if I had to to deal with the local bank that knows me by my first name.
But then, I stick with State Farm too and I don't go to Supercuts.
State Farm... been with them for 20 years, and they still consistently beat all others rates.... In fact, my insurance just went down by $75/yr on one of my cars..
Same barber for 24 years, as well... I'm with you on that one..
If I am paying with a personal check and the dealer waits for it to clear before I pick up the car, why would a credit application be needed? Isell, I must be misunderstanding something here...
If they are sure it is good, then you don't have to wait for it to clear. That's the reason for the credit app, and possibly verifying funds with the bank. They really don't want to have to chase after you for the money or repor the car, and sure don't want you hanging fro 5 days (or however long it takes a check to clear).
they actually know quite a bit about you, certainly enough to go pop the car if the check doesn't clear! Remember, if nothing else, they have your insurance info, that alone should prove you aren't a transient looking to steal the car.
......... Bobst .... most dealers have V-check nowadays .. once it's pumped thru the slider thinga ma gig, it's their's .................................
Last Friday I was e-mailing area Hyundai dealerships to find out the best price on a Hyundai Tucson GLS AWD with Sunroof. One dealership answered back with a great price of $20, 496 after rebate. I double-checked that this price include the sunroof and other features I wanted. The salesman told me yes. Remember this was all done on e-mail so everything was written out for all to see. I went down to the dealership, a 40 mile trip for my family and I that night to sign the papers. I put down a $500 deposit because they didn't have the color of the car I wanted. The papers that I signed stated the same price. I was told that I would hear for them on Monday as to when they could get my car. On Monday instead of being told I could pick up my car that night I got a phone call telling me that they forgot to include the sunroof in the price that they figured. The price jumped $1000 dollars to $21,429 after rebate. According to Edmunds the most a sunroof should cost is $750. They told me the price that they were now quoting was the invoice price which is almost $500 dollars above what Edmunds quoted. When I sent them the Edmunds price report they said that Edmunds doesn't know about the $500 dollar ad fee that they have to pay Hyundai. It seems to me that a salesman would have noticed that the price looked funny. After having done my research for the past several months I knew that the Invoice price that they quoted was too high and only had to check edmunds to find out the exact amount. Am I being ripped off or did they make an honest mistake? Should I start looking for a new dealership? Thanks for your input...Beeper29x
I don't know - is this the only Hyundai dealer in your area? 40 miles is pretty far to go. They might be yanking your chain because they have your deposit and they know you don't really want to drive that far just to cancel the deal. That's why I wouldn't use a dealer so far away (if I had a choice).
Question is, is $21,429 a good price? If there's a more local dealer, go to them and see if they'll beat it. I bet they will. Then, make one more trip to the other dealer to get your $500 back.
What "papers" did you sign? Did you sign a sales order that included the sunroof in the description? Did the paper you signed mention fees, such as doc fee, ad fee tax and license fees?
Surely you didn't sign a blank order with no final out-the-door price.
The only one closer is 35 miles away and they couldn't beat the price of the other they quoted me at 21541 after rebate. They also said it might change since they didn't have that exact car on the lot. The paper I signed had the out the door price which included doc fee, tax, title etc (no mention of ad fee). The paper also had the sunroof, color and all other facts in the description.
The advertising fee is a legitimate charge found on every invoice. None of the web sites list it because it is subject to change and also can vary by region.
So they're basically reneging on the deal. I'd insist that they sell for the agreed price, but be prepared to walk when they don't. I doubt the sales order is a binding contract in the legal sense, but it is in the moral sense. If the salesman screwed up the dealership might agree to eat it. They might also agree to split the difference, if that makes the deal less than the other dealer. Offer to give them a perfect CSI if they work with you. Worth a try. If they don't agree, just move on.
We all make mistakes, and we all need to be prepared to accept the results. Maybe they will feel that the $1k is more valuable than your good will.
I left a message with the manager saying I wasn't happy and was ready to go somewhere else. Instead of receiving a call from him, I got one from the saleman saying they could give me a couple of free oil changes and that they weren't trying to cheat me. I tried the to split the difference yesterday, but that didn't work.
tell him you want 2 years worth of oil changes, and the all weather mats thrown in (they probably really did make a mistake, considering the numbers you are receiving from other dealres) at this point, you're still getting a better deal...
Everyone, thank you for you input! It is nice to get an opinion other than that of my family's. I'll update you on how this all works out. Thanks again...Beeper29x
did the paperwork you signed have the VIN listed. you would be able to then verify if the vehicle they were getting you had the sunroof in it and determine if they were just trying to sell the car for more money. by getting you to leave a deposit they were able to "take you out of the market" for the weekend. if you decide to take the oil change offer have them give you documentation that is signed by the owner or general manager. you don't need a hassle every time you go in for an oil change. don't let them write it down on the back of a business card or tell you that it is in the computer. it seems like they had a touch of seller's remorse
I realize that for you, the dollars are all you seem to care about. I understand, and that's fine.
Me? I wouldn't reward a dealer that lied to me. Even if I had to pay a few lousy bucks more elsewhere I wouldn't encourage that type of business practices.
Rewarding sleazy stores is what keeps them in business.
You have no idea if it was an honest mistake or not. You are simply assuming the worst and you could be right. I'm upfront and honest but I've made pricing mistakes(not many) myself.
Trust your instincts on this one. That's my advise for what it's worth.
>I wouldn't reward a dealer that lied to me. >Rewarding sleazy store is what keeps them in business.
If it wasn't a mistake, you can't trust them. If it was a mistake, they should fix it so it's clearly to your advantage.
Give your business to a straight-forward salesman and dealer. Find another store unless you enjoy having to decipher between the lines of what someone is doing to keep their hand out of your pocket.
"Last Friday I was e-mailing area Hyundai dealerships to find out the best price on a Hyundai Tucson GLS AWD with Sunroof. One dealership answered back with a great price of $20, 496 after rebate."
Hang tough on the original agreed upon price. Nag the dealer about your deposit, nag them twice a day. Tell them you need that deposit for another car. No oil changes, no split the difference. The dealer would rather give you a small profit deal than return the deposit. Hang tough and you'll get your deal.
........ I'm not looking at the contract, but I gotta agree with Thenebean .. based on your numbers, it seems like they did make a mistake because the other dealers can't even get close . ...
No dealer, no matter how much business they're doing is going to let customers just "walk away" if there's any daylight in the deal ..... that said, they're not going to take a $800/$900 loss on a *mistake* .... as far as taking you "out of the market", that's almost a ridiculous statement .. it was a dealer trade, right.? .. their driver, their gas, their money and their time.? .. why wouldn't they want a deposit.? .. get the contract resigned with all the mats and all the oil changes in writing and get the new vehicle .. if you feel uncomfortable go buy a CRV ....
Thank you all for your input. I decided to get my deposit back and go to another dealership. I would just always wonder if I was taken. Like isellhondas stated earlier, I would rather pay I little more to have a salesman be upfront with me. If they had been willing to meet me halfway, I would have most likely have still bought the car from them. I can understand a mistake, but with the reputation dealerships have, one always has to question their motives. One of my family members last night said that the $1000 dollars would have been worth all the word of mouth advertising that I would have done for them (which is a big deal being from a small town), rather than the "ohh, you don't want to go there!" speech that folks are going to get from me now. So as of now I'm back to e-mailing and calling dealerships. I hope everyone else has better luck than me! Thanks again! Beeper29x
You probably did the right thing, getting your deposit back. But this one thing suprised me:
TWENTY THOUSAND DOLLARS for a Hyunadi ? ! ? :surprise: I remember when they were 5,000.... :P
And no, I don't recall what Cadillacs cost back then, so don't ask. I could probably look up retail MSAPs in one of my books tho - might be interesting to compare percent changes with Hyundai...
and that's exactly what I was thinking. I couldn't keep my mind on what was really going on because I was blown away that a hyundai could cost $20K or more. I won't be shopping for any of those anytime soon!! 20K can still get me a good-looking used car!!
If your blown away with a $20k Hyundai then you will really be blown away when you see a $40-60K Hyundai. They are getting ready to do a Luxury division like Lexus, Infiniti.
Its not a joke. They plan on bringing the Equus over in late 2007. It will probably still be badgewd a Hyundai for the time being, but a full luxury line is in the works.
Like I said, they look like nice cars, but they're still Hyundais.
The local Kia folks are advertising free $20 shell gift cards for test driving a Kia. Maybe I'll drive the Fleetwood and mention the high gas cost, and "test drive" a kia, I should be able to come up about 50 reasons to (not) neave my beloved (Fleetwood). :P
The $20 should get me almost 1/2 tank on my smallest car!
I would say that you should take in the CTS. To stay topical, the dealer tricked you into paying too much for it so you should be significantly upside down on your loan. Let them call for a payoff and they'll help you to the door.
now talk about things that just don't sound very smart. I don't exactly have enough disposable income to blow on a $40 to $60K car of any kind, but when I do, I won't be on a Hyundai lot!!
Comments
An internet draft is a different story. There are two kinds...the cashable "checks" that we will accept and the ones that are "drafts". No smart dealer will deliver a check on a draft. They amount to a check with strings attached. These can take a LONG time to cash. no thanks!
You gotta love these banks ..l.o.l....
Lets cut the half-truths out first ....
"Capital WILL pay 3 to 5 days at most" -- thats a true statement ...
What they forget to tell you is, they pay when they receive the title, and the dealer isn't going to cough that up until they get some $$ .. then they pay 3-5 "business" days, after it been through their system .. which in real time, can be 2 to 3 weeks++, because they use a draft ..... in the meantime, someone is driving the dealers vehicle, they really don't have any money and the bank is cruising for burgers ....
The better way to view this is ... would you sell your home, and then let someone move-in with no money on a promise .....?
..l.o.l..... now you know how the car dealer feels .................. :shades:
Terry.
At least in the Midwest....
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But then, I stick with State Farm too and I don't go to Supercuts.
Same barber for 24 years, as well... I'm with you on that one..
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2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Terry.
I never heard of V-check, but if they have something like that, it is fine with me.
Maybe that is why it has always been so easy to pay with a personal check.
Bob
2014 Malibu 2LT, 2015 Cruze 2LT,
Nope.
Usually places with V-check even give your check right back to you. Last time I used a check at Wally Mart, they gave it right back.
An then puts in a warranty claim on the tranny next month!
Question is, is $21,429 a good price? If there's a more local dealer, go to them and see if they'll beat it. I bet they will. Then, make one more trip to the other dealer to get your $500 back.
Surely you didn't sign a blank order with no final out-the-door price.
We all make mistakes, and we all need to be prepared to accept the results. Maybe they will feel that the $1k is more valuable than your good will.
good luck!
-thene
I don't think it was an honest mistake. They are trying a scheme to get some more money from your pocket.
Should I start looking for a new dealership?
No. If they have the car you want, then make an offer and see if they will accept.
I realize that for you, the dollars are all you seem to care about. I understand, and that's fine.
Me? I wouldn't reward a dealer that lied to me. Even if I had to pay a few lousy bucks more elsewhere I wouldn't encourage that type of business practices.
Rewarding sleazy stores is what keeps them in business.
You have no idea if it was an honest mistake or not. You are simply assuming the worst and you could be right. I'm upfront and honest but I've made pricing mistakes(not many) myself.
Trust your instincts on this one. That's my advise for what it's worth.
>Rewarding sleazy store is what keeps them in business.
If it wasn't a mistake, you can't trust them. If it was a mistake,
they should fix it so it's clearly to your advantage.
Give your business to a straight-forward salesman and dealer. Find another
store unless you enjoy having to decipher between the lines of what someone
is doing to keep their hand out of your pocket.
2014 Malibu 2LT, 2015 Cruze 2LT,
Hang tough on the original agreed upon price. Nag the dealer about your deposit,
nag them twice a day. Tell them you need that deposit for another car. No oil
changes, no split the difference. The dealer would rather give you a small profit
deal than return the deposit. Hang tough and you'll get your deal.
Don
No dealer, no matter how much business they're doing is going to let customers just "walk away" if there's any daylight in the deal ..... that said, they're not going to take a $800/$900 loss on a *mistake* .... as far as taking you "out of the market", that's almost a ridiculous statement .. it was a dealer trade, right.? .. their driver, their gas, their money and their time.? .. why wouldn't they want a deposit.? .. get the contract resigned with all the mats and all the oil changes in writing and get the new vehicle .. if you feel uncomfortable go buy a CRV ....
Terry
If the local dealer has the exact car you want, why not go there and make an offer?
You will be "Mucho" happier in the long run .......
Terry.
TWENTY THOUSAND DOLLARS for a Hyunadi ? ! ? :surprise: I remember when they were 5,000.... :P
And no, I don't recall what Cadillacs cost back then, so don't ask. I could probably look up retail MSAPs in one of my books tho - might be interesting to compare percent changes with Hyundai...
Actually when i was in the ROK, I saw several large Hyundais, with the Equus nameplate. Big cars, nicely appointed, dark colors.
But still Hyundais! :P
The local Kia folks are advertising free $20 shell gift cards for test driving a Kia. Maybe I'll drive the Fleetwood and mention the high gas cost, and "test drive" a kia, I should be able to come up about 50 reasons to (not) neave my beloved (Fleetwood). :P
The $20 should get me almost 1/2 tank on my smallest car!
I think the line was "who is going to buy these rusty tin cans?"...LOL
Don't get me wrong, I'm not a Hyundai promoter but they sure made a huge turnaround compared to the first generation hyundai's.
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And, Hyundai isn't far from yugo in my opinion!!