Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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One other annoying thing about having 3 vehicles in the yard, I will have to move the Chevy if we ever find someone to come plow our driveway. Its in the way.....heck, its always in the way, lol.
Have a Happy Thanksgiving too!! My mom went and bought all the food, sure way to get me to cook......sneaky, sneaky, lol.
Thanks,
metmdx
Edmunds says only $750 mfg to dealer support avail. East coast (NY) Edmunds says only $400 mfg-dealer support avail. "Who's on first?"
Given that, what would be a reasonable price to offer for a leftover '03 LTD with MSRP of 38K in NY metro area?
tia,
metmdx
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Mackabee
While it may be possible to do better than X-plan it may turn out to be less than it seems because X-Plan does not allow the dealer to charge any kind of administration or documentation fee. So you may find a price $200 less than X-plan but the doc fee may be $299.
If it is very important to you to get that last $20 then don't mention X-Plan at all and grind away. If the ease of transaction is worth more than a few dollars, then use X-plan and enjoy the car knowing you still paid less than the vast majority of buyers.
Besides, you have the pride of owning a car that was purchased in the wonderful Buckeye State.
What this dealer was doing was calling the deal S-Plan when it wasn't an S-Plan deal. This dealer is not participating in the S-Plan program. Unless they wrote down or printed something labelling your deal as S-Plan it becomes your word against theirs. Mazda can't force a dealer to give you a legit S-Plan deal so it's good that you left that store.
Now, my registration sticker is expired and I want to get it renewed and get my title as its been several months since I paid the dealer for the car. I would appreciate it if you could advise me on what can I do. I paid the dealer by check, so I can prove I've paid him the money.
Thanks.
In the meantime, they can give you another 30 day tag and that should give you both time, getting involved in a court case doesn't get anyone anywhere ..
Terry.
"Now, my registration sticker is expired and I want to get it renewed and get my title as its been
several months since I paid the dealer for the car."
What??? MONTHS? Where can you get temp stickers that last months? First and foremost, have the dealer get you another temp tag so you can drive and have time to sort this mess out... but something is out of whack here. Months? No way...
And Terry's right, courts are the last resort; when would you like your case heard -- is April good for you? I don't think that's gonna work for you here.
-Mathias
: )
Mackabee
Thanks,
Jeannine Fallon
PR Director
Edmunds.com
MODERATOR /ADMINISTRATOR
Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name.
2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
Review your vehicle
As one who has done countless newspaper ads, perhaps I can fill in the gaps for you. First of all there are three types of ads.
National ads - paid for by manufacturers and produced by ad agencies. These are the prettiest ads and never mention dealers, just the cars.
Regional ads - These ads are placed by regional associations of dealers, e.g. Northwest Ford dealers, etc. These are typically also produced by ad agencies and are partially funded by the dreaded ad fees that dealers pay on their invoices. These ads may list area dealerships or just refer to the area dealers in general.
Dealership ads are paid for by individual dealerships and typically do not involve any kind of ad agency. They are usually produced by the art department of the local paper in conjunction with input from the dealership managers. Ad fees do not contribute anything to individual dealership advertising. Once an ad layout has been designed by the newspaper I usually just phone or fax the information on vehicles, prices, programs, etc. that I want to advertise.
People usually have no clue how expensive local advertising is. To give you an idea, the store I work at sells 100-120 new and used vehicles per month (tiny compared to some of the U.S. mega-dealers). Our ad budget is approximately $50,000 per month. You can do the math to see how much that costs per vehicle sold.
How many papers do you run ads in? How many days a week do you run the ads? You're right $50,000 sounds like a huge amount ot sell only 100-120 units....
Just kiddin', Landru!
Opinions, please.
Jim
I spend $45, but thats on 5 stores, 7 flags and about 1,3 unit's a month ..
Terry :-}
Thank your lucky stars that you don't operate in markets that demand that kind of advertising exposure. Our store ranks 5th or 6th in advertising costs out of ten competing Ford stores.
Ok, this customer of ours (firewood business) wants to buy our Chevy (remember its the problem child). He knows all about the truck, we've been 100% honest and the guy is a mechanic too. Ok, now the question.....
He wants to make payments on it, now I don't have a problem with it since I believe everyone can use a little extra help sometimes. However, what I don't know is how to go about wording a contract, I mean should I get a lawyer or is one I write up and notorized ok? What we are looking at is $1000/dn and $500/mo for 9 months....total price $5500 ($500 extra for carrying the note).
Also, since we are obviously not a bank, can we let him register the truck in his name with us as a leinholder, yet we retain the title? Oi, what have I gotten myself into???
Any suggestions welcome, I would like to help this guy out and rid ourselves of the Chevy. Thanks guys.
Deals like this cause a lot of trouble and lost friendships.
No matter how honest you are about the truck's condition, if it breaks down, he is liable to stop making payments to you.
If you leave it in your name (big mistake)you could be held liable. It needs to be registered to him. Once this happens, if he decides to quit paying you it could be very difficult to collect.
All of this said....if you insist on going through with this plan, I would write a contract in clear terms. I would state several times that the truck is being sold strictly AS-IS with no warranties expressed or implied. I would also add late charges for late payments.
And, yes, I would have it notarized not that makes a big difference.
And, make a good natured pact...if it breaks, he is not to tell you about it nor are you ever to ask..." How's the Chevy truck doing?"
I'm also guessing the guy has bad credit and no way to finance it without you carrying the loan.
I don't mean to rain on your parade and I could be dead wrong. It could work well for both parties.
No agreement, lawyer-aided or not, will make the payments come in.
I know you want to sell the truck but try to find another buyer - outlook is not good with this guy.
Been there, done that...never again.
I highly doubt I'll be able to get more than $3500 tops for the truck if I try to sell it cash outright, its just not a high demand truck.
So, thinking that way, the risk is almost worth it to get an extra $2k out of the thing. However, I am worried about being burned.
People have taken payments from us before. Heck the guy who we bought the truck from held it for a month on just our word that we would buy it, took it off the market and everything.
I'm pretty trusting, I really would like to give this guy a chance as long as we can protect ourselves and be able to repo the truck if need be. The guy is a mechanic, so I'm not too worried about the truck breaking down and him stopping payments, he can fix it. Judging from his other truck, a 1980's Dodge 2WD, he takes good care of his stuff. You guys do have good points though.
I'm going to check with a guy I know at a Buy here, pay here lot and see what he says, he's a millionare, so must be doing something right, lol.
Nothing ruins a good friendship like money, though. Considering your options on the truck, and the lack of interest, this may be your only route. Plus, you'll get the kind of money you were asking for the truck. If the guy doesn't pay, you pop the truck (legally) and you have whatever money he's put into the deal, plus a half-broken truck (just like what you have now!).
I wouldn't give you $1k for it, personally, but that's a different story.
If you go through with your plan, I got $50 says you'll have the truck back, you'll have "gained" $1,500, you'll have lost a friend, and it'll take 4 months or less to get there.
Anybody wanna take me up on this, even money?
-Mathias
We have officially gone 5 weeks without spending any money on the truck. We have owned it for 6 months. The truck books for $8150, we want to get $5k out of it, a car lot offered $3200. The reason I say $3500 is because its a very low demand vehicle, reg cab, stick shift, diesel, very small market for it. In all the ads I've had out there, I've gotten one phone call which turned into nothing and then of course this guy asked if it was for sale.
I guess the way I'm seeing it is its worth a shot, I can always play repo man and get it back (thus the extra set of keys stays with me).
Heck, I've bought 2 horses on payment plans, one was a $1500 horse, no problems, everything went great. The other was a $6000 show horse......I got $1500 into the payments and did a *voluntary surrender* and returned him to his owner. I figure a car is a lot less risky than a horse.
I think I'll probably give the guy a chance, he seems like he will keep his word.
If you take it back, will you feel OK taking his $1,500 when he's had the truck for 4 weeks, and it ran for maybe two?
That's where I see the problem, not so much the gentleman trying to stiff you.
I sold a car to a friend of mine in January, 93 hi-mile Corolla w/ cracked exh manifold...held my breath for two months on that thing, then I figured he'd gotten his $800 worth. Of course, now he's driven 30k and he's pretty happy...
Best thing that can happen, the truck miraculously makes it one year without major trouble. By then, you'll have enough of the money to be ok.
-m
However, I do agree that truck tends to be a booger when it wants to be, like when he got here today to look at it. It doesn't like the cold and didn't want to start, so he saw it at its worst and still wasn't afraid.
But yeah, I'm gonna be holding my breath that it makes it through the next year. At least he doesn't work his trucks like we do, so it won't be stressed.
Worse case is you take a down payment and the guy defaults because the truck doesn't run right (can't see that happening, though).
There's not many ways you'd be worse off considering the going rate would be $2500-3000.
Sell it for what you can and get paid however you can. If you can make an extra $2k, fantastic.
"The truck is only worth $3500"??
It books much stronger than that ans it's WORTH whatever someone wants to pay for it. Period.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Can't even have the woodstove going tonight because the stack is clogged, hubby needs to clean it. Why is it that firefighters are the worst at keeping chiminey and woodstove stacks clean???
Had the smoke detector go off at 4:45 am, not a welcome sound, woodstove was smoking in the house. Not sure what's worse, the Chevy or this 27 year old mobile home. Just a few more months until we can buy a new house.
1) He knows it's problems and still wants to buy it.
2) You'll get far more from him ( if he makes all payments) then apparently anyone else.
3) If you have to repo it you just might get it back in better shape with him being a mechanic. :-)
Just make sure to get a good strong sales contract with everything spelled out to the nth degree and as drift says become the lienholder.
Good luck ( you deserve some).
Duncan
I know a few dealers that have these lot's and some do fine, some do less than fine .. what saves their butts is they get most of the $$ upfront and 1/2 months down the road is all profit, or not.!
Your getting a ghee whiz down and payments of $500 a month for 9 months and your going to back this up with a "Surety agreement" ... it's winter up there, vehicles have a tendency to get a little hinky when it's 25/30 degree's outside, have you seen the video's from Boston, their jump starting 1 year old Mercedes up there .l.o.l..
I dunno kid, if you were getting $2,5/$3,0 upfront than I might agree with you .. but getting a ghee whiz and holding my breath for the 1st of the month sounds a little crazy, especially for $500 a month ..
What makes these type of deals go sideways, is that the "buy here" types have $*^@ for credit and once the vehicle starts breaking down, they lose ALL responsibility and they can just go down the street and buy something else, then your stuck "trying" to hook this dude ... I know your friends, but $$ makes Horrible enemies out of friends and relatives.
If your "Hell bent" to do it .. then you need to construct the deal where he is giving you $125 a week or $250 every 2 weeks ....
The devils advocate,
Terry.
I will probably structure it for $250/every 2 weeks. I know he wants the truck bad, he's so funny to be around, almost sheepish about it, I know he's a proud man and he hated to ask if we'd take payments.
I feel for the guy, he's been up here a year, drives a 1980's Dodge 2WD truck (that's the only vehicle they have) that the heater doesn't want to work in. I dunno, gonna take some more thought. Not sure I want to set myself up to have to play repo man.
It sounds like this guy has no other resourses to call on such as a short term loan from a family member?
Can he get a loan from a secondary lender like a Beneficial Finance or something?
Probably not.
I suppose you will have to trust your judgement and hope for the best.
You certainly deserve some good luck.
Mark156
Jolie will just have to weigh all of this information and trust her instincts.
I'm kinda slow, your going to have to explain that one too me ...
Terry.
The only thing that's bugging me is I know he's had a repo before, although he claims it wasn't his fault, he was in Alaska working sending his checks home to his wifey.....wifey wants a divorce and doesn't make the truck payments. Bingo......repo man is chasing him down.
My husband is a pretty good judge of character and he knows this guy better than me, he says no problem.
It'll be in the contract that the truck doesn't leave the state until its paid for, I don't want to have to chase that thing to Florida or something. Thankfully the guy only lives aboug 30 miles from us and I know where he works too. I'm not the person to piss off, I always get even.
Isell.....I try to give everyone a chance. I tried to help a guy I knew get a job, what'd he do, basically just blew it off. I was not too happy since I had told the "employer" that this guy was dependable. Was a good job too, good pay. Oh well, can't save them all.