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Any Questions for a Car Dealer?

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  • raybearraybear Member Posts: 1,795
    You checked on this site? They could be way off, don't rely on one source.
  • ipoddinipoddin Member Posts: 61
    two different people from this site told me .0011 which I know is a very low rate (only available for 39 month lease). And that's what he showed me. I didn't want a credit check done until I knew what I could get so I asked him to run a scenario assuming my credit was top tier to see where we'd be at (I know how to calculate a lease and he showed me all the numbers, including that money factor rate). You really think it could actually be even lower?
  • landru2landru2 Member Posts: 638
    I don't know about the acqisition fee or the money factor, but I know that the price of the car could be lower. ;^)

    It's easy to twist yourself into knots counting the details and overlooking the total.
  • ipoddinipoddin Member Posts: 61
    I'm getting it at $100 over invoice minus a $3k rebate. Checked two different sources online for that and both matched what he showed me. Seems like a fair offer to me.
  • JPhamJPham Member Posts: 148
    wow, they're really discounting that new model ... and it looks way better than the Aztek!
  • raybearraybear Member Posts: 1,795
    Good enough the acquisition fee shouldn't be a factor in your decision.
  • ipoddinipoddin Member Posts: 61
    acq fee is not a factor in my decision. I'm getting the car tomorrow either way. Just would like to know if they're being completely upfront - which my gut tells me they are, just wanted to ask. I couldn't ask for a better experience either. No hassles, no pressures, no tricks, so the fee probably is accurate. Dealt with the internet sales guy.

    Jpham, yep, and that was his offer. I thought it fair and accepted. It's not the base model either, black ext, black leather int, gps navigation, 6 disc cd/dvd changer, and luxury package.

    Can't wait for tomorrow!
  • kyfdxkyfdx Moderator Posts: 264,543
    audia8q... You really have that one nailed. I had a Honda dealer try to mark one up on me. It was going to cost me $25/mo. extra for 36 months. $900 total... I had them re-work the deal. Eventually, I got it all settled, but the upshot? That $900 was going to net them $357 extra from AHFC. If they had just added that into the sale price of the car, it would have only cost $10.75/mo.

    It makes you wonder....

    kyfdx

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  • kyfdxkyfdx Moderator Posts: 264,543
    On most lease paperwork, acquisition fees have to be disclosed, even if rolled into the cap cost. However, the paperwork the customer fills out for the lease almost never has the money factor on it. That is one reason it is easier for a dealer to add profit there, rather than in the acq fee.

    regards,
    kyfdx

    Edmunds Price Checker
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  • bowke28bowke28 Member Posts: 2,185
    every lease deal ive ever done has the money factor on the contract. the difference is that most people dont understand what the ~.012300~ means.
  • audia8qaudia8q Member Posts: 3,138
    If your state is a vicarious liability state it is not uncommon to see Aq. fees as high as $1000. Here in Connecticut, for example, Chase charges a $795 Aq fee.
  • ipoddinipoddin Member Posts: 61
    I'm in California
  • kyfdxkyfdx Moderator Posts: 264,543
    I've leased five cars.. AHFC and independent banks... I've seen the MF on the dealer's paperwork to the lender, but never on the contract I've signed. Just dollar figures for cap cost, residual, depreciation, rent charge(MF X cap+resid), etc.. but never MFs.

    You are right... 99% of people don't know what it is, and half of the rest don't understand it.

    regards,
    kyfdx

    Edmunds Price Checker
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    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • volvomaxvolvomax Member Posts: 5,238
    Is right, money factors generally don't appear on lease contracts. At least I can never remember seeing one.
    Most acq fees are @ $500 or so. Some banks like Huntington charge $825 and everybody in NY charges alot.
  • ipoddinipoddin Member Posts: 61
    well I guess it should matter once in with the F&I guy if the money factor isn't on the contract. As long as all the numbers (msrp, cap, residual, and monthly payment) match what the salesman and I worked out, it should be fine. The salesman showed me the mf in the lease worksheet and the rest of the numbers. So as long as it all matches on the contract, it shouldn't matter if the mf isn't mentioned, right?
  • bowke28bowke28 Member Posts: 2,185
    everything i have seen has it, some in money factor form, and some in rate form (FMCC). with a calculator and a little know-how, however, you can figure it from the rest of the #'s.
  • mney6mney6 Member Posts: 116
    Chrysler does have a acq fee of 700 dollars.
    You may want to see what a Chrysler Financial plus program looks like.
  • ipoddinipoddin Member Posts: 61
    Well, got the Pacifica today, didn't even bring up the acq. fee.

    Must say, it was the most pleasant and hassle free dealer experience ever. Everyone, including f&I guy, were totally upfront and explained every charge. F&I asked if I wanted a special maintence plan, when I wasn't sure, he reduced the cost and that was it. No further pressures, hassles, nothing. The mf was not on the contract, but it was on his computer screen which he showed me when preparing the contract. And the contract matched what he showed me. I was shocked because I expected to be pressured in to adding everything including the kitchen sink! But nothing else. In and out with him in 15 minutes. No tricks. For example. I knew I'd want gap insurance. I was on the phone with my insurance company asking how much to add to my policy and was just about to do when both the salesman and f&I guy said not to do it because gap insurance was included in the lease (remember, I got it for $100 over invoice minus $3k rebate). That was very cool of them to tell me.

    Salesman put a full tank of gas in the car. Then walked me through the whole thing. I complimented him on a great experience and he seemed really glad to hear it. I emailed 8 dealers and only two responded to me. He was so happy to hear that he asked I tell my story to the GM.

    Anyway, here's one for a great car buying/leasing experience from Chrysler. Let's hope the service dept. goes just as well.
  • jwilkersonjwilkerson Member Posts: 15
    I went to the Chicago Auto Show this month and signed up for a $500 Lexus Gift Certificate Coupon. You could use it when you buy a new Lexus. The $500 comes of the bottom line after you negotiate your deal. It comes out of the Lexus Motor Car Company, and not the dealer. I plan to purchase an LS 430 soon and would like to use the $500 Coupon. Does anyone know where I can get mine to make this purchase? Many thanks.
  • michaellnomichaellno Member Posts: 4,120
    Last November I ended my Explorer lease early (Ford was running an "Early Bird" program to get folks out of their leases early) and bought a Ford Focus.

    The Explorer needed a new windshield, so we agreed to have the dealer replace it for a price of $165. On 01-01-04 I sent the dealer a check for that amount.

    A week ago, I get an email from our salesman, asking if I had paid the $165 for the new windshield. I emailed him back that I had, and provided the check number and the date I mailed the check.

    He responded by telling me that the dealer had taken the $165 out of his paycheck, and could I confirm that the check had been cashed?

    I did a bit of research, and found that, lo and behold, the check has not yet cleared (it's now been two months).

    So, here are my theories:

    1) the check never made it to the dealer - fault lies with USPS

    2) the dealer received the check but has lost it -- fault lies with dealer back office

    So, my question is, what should I do now? I'm not inclined to put a stop payment on my check (cost unknown) but if I do I would deduct the fee from the next check I sent them.

    Looking for some advice here on how to deal with this. I have not yet told my salesman that the check has not cleared.
  • qbrozenqbrozen Member Posts: 33,726
    i would first be completely honest with the salesman and tell him exactly what you've told us here. There's no harm in it and, if it were me, I at least would feel good about having everything out in the open. He's certainly not going to fault you for not wanting to stop payment on the check and have to pay the fee. If no other solution can be reached, you could always call the manager, confirm that they deducted that from his pay, then stop the payment and give the salesperson the money in cash minus the stop payment fee. That way at least he'd only be out ~$25 rather than $165. But that's a last resort.

    my question is: is there a time limit on checks? I know that most checks I get (non-personal ones, anyway) have that little caveat on there "void after 90 days." Is that standard practice on all checks or does it really have to say that on it?

    '11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S

  • butchbr73butchbr73 Member Posts: 325
    don't mean to be rude.... but are you serious?

    Its a simple call to the bank to stop payment on a check. maybe a little fee, $5/10, i get to stop 3 per month at no charge w/ my checking account. You can talk with the dealer, they may "accept" paying for the stop payment... but to be honest, doesn't matter to them what happened, you still owe the $165, either way.... if you want to play hardball, they'll come back saying "how do I know you sent a check?"

    Run a new check by the dealership for $165, problem solved... or mail a new check. I don't think you need to put blame on anyone... lost checks happen frequently in the world of business. I wouldn't worry about what happened between the salesperson and dealership, if they did take it out of his check, they'll pay him back when you pay, I'd let them worry about that.
  • agt_cooperagt_cooper Member Posts: 202
    I didn't think michaell's question was all that crazy. Through no apparent fault of his, he now has to deal with writing a new check, knowing that somewhere out the original is still floating around. If my memory serves me from my banking career, a check that is older than 6 months is considered "stale dated". I think that meant it wasn't supposed to be honored, but I'm not sure. Maybe it was a year....anyway, the one thing I know is that dates are rarely checked on checks that are deposited, so it is likely if the dealer deposited the old check, it would go through. You could then challenge the date with your bank, and it could get charged back to the dealer's account...a bit of a hassle!!!

    My personal take is I'd give them a new check and deal with the problem if the old one shows up. If you feel you'd like to place a stop payment, I'd talk to the dealership/dealer and see if they'd be willing to pay your bank's fee (mine charges $25.00). Maybe a split of the fee is the fairest way, since no one is absolutely certain what happened to the original check.
  • mark156mark156 Member Posts: 1,915
    It's not the dealerships fault the check did not make it. Unless, the check is sitting on someone's desk in the back office, I would just write another check. Hopefully, "Michaell" put a return address on the envelope just in case it comes back.

    I wouldn't try to negotiate the stop payment fee... I probably would just chance it and trust the dealer that if they received the "old" check that they would send it back or destroy it. If they deposit it, just take the cancelled check and show that it was paid twice.

    I just received a Christmas card from my cousin who lives in the same city as me. The envelope was stamped dated Dec. 12 and I received it in Feb. (a few days ago), these things happen.

    Mark
    2010 Land Rover LR4, 2013 Honda CR-V, 2009 Bentley GTC, 1990 MB 500SL, 2001 MB S500, 2007 Lincoln TC, 1964 RR Silver Cloud III, 1995 MB E320 Cab., 2015 Prevost Liberty Coach
  • jlawrence01jlawrence01 Member Posts: 1,757
    I would write another check for the amount and not worry about the "stop payment" on the other. Most banks charge something like $30-35 for a stopped check. OUCH!
  • michaellnomichaellno Member Posts: 4,120
    OK, thanks for the feedback.

    To address specific issues/points raised in your responses:

    --> Yes, I did put a return address stamp on the envelope. Should the USPS not be able to deliver it, the check should come back to me.

    --> I just talked to my bank and the fee to put a stop payment on the check is $20.

    --> I have no intentions of welching on this part of the deal. My wife and I agreed that we would pay to have the windshield replaced, and I plan to honor my agreement.

    --> I think it is a good idea to "confirm" the fact that the money was withheld from our salesperson's paycheck.

    If I understand this right, the dealership is made whole by this deduction, and I really owe the money to my salesperson directly.

    The good thing is that the dealership is on my way home from work, so I can swing by and get it all straightened out in person (assuming, of course, that my salesguy is in at the time).

    What I am not sure on is the idea of "eating" the stop payment fee, splitting it with the salesperson or holding out for the whole $20. What seems fair is splitting the difference, meaning I would write him a check for $155. I'll confer with the "boss" on this last point and let you know what happens.

    Again, thanks for the responses.
  • driftracerdriftracer Member Posts: 2,448
    if you don't, and anyone from the dealership finds that check, it'll get deposited, and you're out the extra money until you get done running around to track it.

    Do a stop payment and write another check to your salesman.
  • michaellnomichaellno Member Posts: 4,120
    ...after conferring with my wife, here is what we're going to do:

    --> call the dealership and speak with a sales manager and confirm that the $165 was deducted from our salesperson's paycheck

    --> speak with the business office; it occurs to me that I may not have included any supporting documentation with the check and that the check is simply sitting on some paper-pushers desk, waiting for disposition

    --> depending upon the outcome of those conversations, I will put a stop payment on the check; I will eat the stop payment fee and not attempt to negotiate it

    --> I will write a new check to the dealer; that way, I know I am clear with the dealer and they and my salesman can deal with his reimbursement of his docked wages

    More as it unfolds ... not wanting to be like Mack but have no choice :)
  • odd1odd1 Member Posts: 227
    I recieved a get well card in January from a hospitalization last March. It was post marked the day after my emergency surgery.
  • bowke28bowke28 Member Posts: 2,185
    did your salesman tell you that they

    "deducted it from his pay"

    or

    "deducted it from his commission"

    these can easily be 2 different things. if the gross profit was $1000, they probably deducted it from that before cutting the salesman's %.

    very likely, the salesman is only out his % of $165. i wouldnt cut him a check at all. however...

    i would ABSOLUTELY make sure that he is re-imbursed his % of it (probably 25% or 30%). make sure his SM is fully aware of the money he owes his salesman.
  • michaellnomichaellno Member Posts: 4,120
    ...the email is on my computer at home, but I believe he stated that they deducted it from his paycheck.

    I agree that those two statements are quite different, and result in a different $ amount.

    Of course, I can't seem to get hold of anyone at the dealership - left VM for the person in the business office who handles incoming mail; couldn't even get VM for a sales mgr.

    We've decided not to make the check out to the salesman directly; if there is any future problem, I want to have doucmentation that I paid the dealership the $ I owe them from the original deal. In fact, thinking about it further, I may ask for a receipt as well, just to be safe.
  • butchbr73butchbr73 Member Posts: 325
    Sorry, I disagree... I WOULD let the salesman know you are giving the dealership another check to pay for the windshield... but go pay the dealership what you owe with another check, cash or credit card, etc....

    Personally, i don't think its would be my responsibility to make sure what the salesman gets, etc, although I will definately let him/her know I took care of what I owed.... I can guarantee you he/she is well aware of what he/she is owed and can follow-up on that issue by himself... if his/her employer doesn't take care of him/her, well, uh... I think they've got other issues. its not that I want to see anyone get treated unfairly or not get there money they earned, I just don't think its my right nor responsibility to step between the employer and employee on how they handle things...

    I would be more concerned with what the dealership thinks I owe them, ie --- payment of $165 for the windshield.
  • michaellnomichaellno Member Posts: 4,120
    A nice lady named Kathy called me back; she is the person who handles the incoming mail for the dealership. Evidently, the check never arrived, else she says she would have cashed it.

    I am going to stop at the dealer on my way home tonight and give them the $145 (Kathy offered to eat the stop payment fee, even after I offered up resistance).

    And, I'll get a receipt from Kathy to indicate that I have paid for the windshield replacement.

    bowke, I confirmed that it was the commission % of the $165 that was deducted from the salesperson's paycheck, not the entire amount.

    So, it looks like it will end happily ever after!
  • landru2landru2 Member Posts: 638
    Kathy went above and beyond by offering to pay your stop payment charge. Because she would've been 100% right if she refused.

    It seems few people understand the responsibilities involved with business mail. It is always the responsibility of the sender to ensure that the recipient gets the item. It is the sender's responsibility to send (and pay for) a registered letter so that receipt can be verified.

    How can it be otherwise? When someone mails you something surely it is not up to you to make sure you receive it.
  • stevesteinstevestein Member Posts: 263
    When first started the recipient had to pay for postage when the letter was delivered. Needless to say this opened up many means of abuse, and the system was changed quickly to the present one where it is the sender who pays for the mail service.
  • driftracerdriftracer Member Posts: 2,448
    but it's still the "bill payer's" responsibility to make the bill is paid, not the creditor, not the postal service.

    If someone owed you money, would you want to hear excuses, or would you just want your money?
  • prodigalsunprodigalsun Member Posts: 213
    Umm...I think that's what's happening here. Of course, the dealership needs to raise the flag with the customer if they don't recieve the money. Sounds like instead they held the sales person responsible and docked his pay.
  • michaellnomichaellno Member Posts: 4,120
    I went to the dealership on my way home from work last night and gave my check for $145 to Kathy, who provided me with a receipt. Kathy is also in charge of payroll for the dealer, and she assured me that Julian would get his money back (the % of the $165 that had been docked from his pay).

    I also spoke with Julian, my original salesperson, and told him that I had settled up with the dealership. He was pleased, as you can imagine. Told me that he has been promoted to Internet Manager, and can sell any car for invoice - rebates. Asked him if he had any 5 door Focus SVT's on the lot. Sadly, he told me they are sold out, but tried to put me into an SVT Mustang instead. No sale -- but we will definately see him if the wife decides on another Ford for her next vehicle (she will be getting a small SUV later this year).

    So, all's well that end's well, or something like that.
  • driftracerdriftracer Member Posts: 2,448
    in most cases, if the salesman worked something out with the customer and didn't make it official through the business office, it's on his back to get it handled - keeps the money flowing like it should.
  • jratcliffejratcliffe Member Posts: 233
    Wow, that's quite an upsell effort, SVT Focus to Mustang Cobra. Well, I guess it was worth a shot, right? :)
  • jakebuddy20jakebuddy20 Member Posts: 2
    Anyone ever heard of dealerships replacing body parts, such as hoods and doors, before selling a used car and not telling the customer? This happened to me. I only found out when trying to trade the vehicle 1 yr later and only getting half of what I paid! The dealer I bought it from said this is common practice, but the dealer where I'm trying to trade obviously thinks the car was wrecked before I bought it. Now I must try to sell it outright as it is too huge a loss! Input or suggestions??? It is a year 2000 Honda CR-V.
  • volvomaxvolvomax Member Posts: 5,238
    Most dealers wouldn't bother to repair a car damaged to that extreme.
    They will repaint panels if necessary, is that what happened?
    If the carfax is clean it shouldn't impact the value much. I'd go see another dealer and get another trade in value.
  • jakebuddy20jakebuddy20 Member Posts: 2
    the carfax report is clean, as is the title. They tell me they replace them for many reasons - scratches, hail damage, etc - but can't tell me exactly what the damage is. Either way, I think it is deceitful of a dealership and others should know this could happen.
  • michaellnomichaellno Member Posts: 4,120
    Yeah, that's what I thought .. but, the Cobra was on the dealer floor right behind us when we were talking. Not my cup of tea, but perhaps when the 2005 Mustangs come out....
  • odd1odd1 Member Posts: 227
    ..the present dealer is trying to low ball you? Shop it around and see. I just traded in a 7 year old BMW that had been spanked twice and hailed on and still got Kbb "fair" for it.
  • jratcliffejratcliffe Member Posts: 233
    Just out of curiousity, what were they asking for the Cobra? Was it also at invoice?
  • mfullmermfullmer Member Posts: 773
    Are you 100% sure that those body panels weren't replaced before the dealer got the car? Did the dealer make any representation to you that the car had never had any body work done? Had the salesperson been there longer than the car?

    If you are going to buy a used car - either from a private party, used car dealer or new car dealer - it is your responsibility to have the car checked out by a mechanic you trust. If you had done your work as a used car buyer, you would have known about it.
  • michaellnomichaellno Member Posts: 4,120
    I never walked over to the Cobra to look at the sticker, nor did I ask for a price from Julian. Next to it was a Mach 1 coupe (convertible? I honestly don't remember now) that was stickered at $29K or so.

    Would he do invoice on the Cobra? Hmmm, good question.

    Had he had the Focus SVT 5 door, I might have stuck around and gotten a number from him. He did tell me that the service manager has an '02 Focus SVT 5 door with 7K on it, though.

    This particular Ford dealer is pressed for space, as there is major highway construction that is shrinking his lot. They've got cars in 2 or 3 different physical locations, and they are always running screamer deals. However, we ended up there and really liked the experience, even though there are something like 4 or 5 Ford dealers that are closer (mileage wise) to where we live.
  • stickguystickguy Member Posts: 53,274
    last weekend my local paper had a leftover '03 SVT 5 door for 15,995 after the various rebates/dsicounts. Think MSRP was right about 20K (no moonroof)

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • rroyce10rroyce10 Member Posts: 9,332
    .... ** I just traded in a 7 year old BMW that had been spanked twice and hailed on and still got Kbb "fair" for it. **

           
             Speaking about being dishonest .l.o.l...

                          Terry.
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