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Comments
LOL....
I was thinking the same exact thing Moo...
GP
LOL....
I was thinking the same exact thing Moo...
GP
(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 [non-permissible content removed] 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
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.
I'd blow the dealer off and continue shopping. Even if the dealer has concerns, he should have explained what's up.
they have taken to sending unmarked envolopes to get me to open them. :mad:
I don't think there's a Pilot shortage.
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.
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.
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.
Speaking of Novas, I would like one of those.
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?
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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.
How can you take advantage of that? Just find the one that is cheaper. Ask your salesperson or search on your own.
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
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
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
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."
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
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
Ya, I may be going a little far with the 4.9%.
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.
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.
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.
What may make this more interesting is I actually had leased a different new car from the same dealer this past Saturday night. We had a deal in place but I wasn't 100% so they gave me the option to 'change my mind' by Monday and let me take the car w/o signing the official contract...I only signed the spot delivery paper and the temp. I brought the car back to them yesterday because of some scratches and scuffs that were much more apparent in the daylight the next day. They did not give me any problems, except a few tries to convince me to stay in the original car. I did some extra research after I knew I was returning the 1st car and I was able to re-work the terms of the deal with them and move up a model - which is the car I just picked up tonight...and I did sign all the papers this time.
So what should I do...what would you do if this was yours? Take it to service or go directly to sales and insist on a new one? I am having such a hard time rationalizing a brand new car in the shop. Thank you in advance.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Find one of these and your problems are over-
http://www.hunter.com/pub/product/balancer/4159T/index.htm
So are you saying a $1500 rebate is better than 0% for 5 years? Just curious.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Trying to get a brand new car would be a major hassle... don't think the dealership would go for it.
Sounds like a wheel balance problem which is no big deal.
You'll never going to get a "prefect" new car unless you're buying a one off Rolls Royce or Bugatti or something.
Maybe because the sale person brought it in late, after service was closed, they couldn't have checked it then. I'm sure they'll look after you.
Enjoy your new Altima.
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
Hang on there Old Farmer... I am only speaking from a Nissan point of veiw. When ever you are dealing with reabte or rate incentives... it ussualy works better to take the rebate.
Now on your idea of 0% ... I am sure the rebate would be higher than $1500.
The Manufacturers are going to get their money one way or another. But is always better to owe less on a car. I have done it many times where I give the rebate and the buy rate away and the customers spayments are lower than the sub vented rate.
GP
I work for Nissan and I have to agree with the others here that the tires need to be balanced. When the vehicles come to the dealers they have about 6-9 miles on them after they get off the truck. When the mechanics go through the vehicle (PDI) before you take it, they normaly go down the street to the gas station and verify that everything is working properly. But they don't bring it up on the highway. Reason being it would take too much time to test it that way. I am sure the same is with other manufacturers. You have probably already picked up your new Altima and the I'll bet the vehicle is operating properly.
I ask... When you pick up the vehicle... don't think there is a problem... Meaning if you think there is still a problem your mind will play Jedi tricks on you and you'll think it is still shaking...
Just curious which package did you get? Do you have any questions that were not answered at time of delivery that I may be able to explain to you. If you do feel free to contact me at any time through the carspace emails
Enjoy your new car! And one more thing do the sales kid a favor.... when you get the survey in the mail.... I am sure th sales kid asked you for all excellents on the survey but there will be a question on the survey.... " Where there any problems with your new Altima when you took delivery?".... I ask that you answer that question with a "NO"....
Reason being is because even though the kid said he might have felt something when he brought the car in. He was probably rushing through things to keep you the customer happy. The main reason I ask for a no on that answer is because a "yes" answer will bring his score down. When there are problems like that it ussualy out of the salesmans control. Also it sounds like he may have been a new sales person. Only reason I say that is because a veteran would not have delivered the vehicle knowing there was a issue. And if the veteran did know.... I guarantee he would have played dumb. So please be nice to your salesman :shades:
You can rest assure I wasn't your salesman. 1) I would have remembered if I had any customers recently with your problem.... and I guess I really don't need a two but....2) I work in Boston.
GP
The dealer has no assurances that the money won't bounce back until roughly 10 days have passed. They are protecting their interests and making sure that they get all the money and keep it. "
Hi, Is this the same as with a Credit Union? We were pre-approved for great rate fro a new car loan (up to a certain $$ amount which is clearly listed on the blank check. They pulled our credit reports, requested supporting docs, and approved our loan request. So, my question is why would the dealer not want to accept this type of payment? Also, why would it be necessary for the dealer to pull my credit again, especially when I am not requesting any extension of credit form that dealer?
Thanks in advance for clarifying!!
Not always the same with Credit Unions. They will typically give certified funds which is different than the Cap One draft. However, it sounds like you got a draft from your C.U.
It also sounds like you're leaving out some of the story. You went to your local dealer and picked out a car. They ran your credit to verify that you are who you say you are. It was probably a 5 liner necessary to verify your identity. And then they declined to accept the draft?
Is that what happened?
Thanks, hope I can help here.
Not always the same with Credit Unions. They will typically give certified funds which is different than the Cap One draft. However, it sounds like you got a draft from your C.U.
It also sounds like you're leaving out some of the story. You went to your local dealer and picked out a car. They ran your credit to verify that you are who you say you are. It was probably a 5 liner necessary to verify your identity. And then they declined to accept the draft?
Is that what happened?
Thanks, hope I can help here.
Hi madman, Thanks for your quick reply! I haven't gone through the purchase process yet. I was just actually wondering about the draft question because I've already been pre-approved with a blank check from my credit union. Just want to be prepared when I am ready to make that purchase.
Also curious as to how a dealer pulling someone's credit file can prove a person's identity just doesn't make sense to me. If they need to verify identity, wouldn't a government issued ID such as a DL and or passport be sufficient proof for confirming identity? I would think fraudulent SS numbers and cards are much more prevalant than fake US passports.
Anyhow, thanks again!
In regards to the identity verification - it does a couple of things. Some banks won't allow you to verify funds, we run the credit and make sure that the potential buyer isn't a [non-permissible content removed]. If he hasn't paid his grandma for yardwork she did or if he has Pizza Hut listed for $20 delinquent, then we won't sell him a car without a cashier's check or certified funds. It also gives us an opportunity to see if we could actually save him money on his rate as well. I'm not sure why the dealership pulled yours though.
Good luck out there!
LOL
"Listen [non-permissible content removed], pay your grandma for the yardwork she did for you, and pay Pizza Hut the $20 you owe them" the we'll talk about a car loan.
I've seen many not so good credit reports during the past year. The ones that usually have no chance of approvals from our banks are:
Behind on child supprort. If you don't pay for your own kids, then chances are you won't pay for a car either.
Money owing to payday loan places: If you borrow money from a payday loan place because nobody else will lend you money in the first place and you don't return that money in 2 -4 weeks, and it goes to collections, then how is anyone else gonna lend you any money especially on a 5 or 6 year term.
Behind on car payments with a sub prime car financing company. Sometimes last chances are really last chances. Focus on paying those late payments off first before even thnking of shopping for another car.
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
Doesn't make sense to me either, I can pull out a drivers license, voter ID card, several credit cards with my name on them, an FOID card and my work ID (state issued BTW) that can all establish my identity. There is no need to run a credit report.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Nope. That's the choice I had from Mitsubishi. I would normally take the rebate and pay cash but they offered to finance EVERYTHING including the sales tax at 0%. I ran it through the online calculators and they all say go for the 0%. I figure I can make back at least $1500 in the next 5 years and I still have the cash for a rainy day.
I just thought from your statement that I had missed something.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Hi Madman, The dealer didn't pull my credit - it was my credit union that pulled my credit report along with requesting docs to pre-approve my loan. So, would there still be need for the dealer to pull if I'm not financing or requesting cerdit through them? I'm just more of a private person when it comes to my personal finances, hence, only securing a loan through my bank -- which also carries my mortgage -- versus a stranger where I do not have an on-going business relationship. (No offense to any F&I guys or dealers here!).
Thanks again! I am definitely going to more prepared this time around with my car purchase!