Dealership Disregards

[Fitz-0518]

^^^^Simple economic facts,,,that do not change. thanks Tray

 

[chrisbh17]

Agreed. I think the only reason I got the deal I got on my truck was because it was there for so long (just about 1 year between built and when I bought it)

Didnt matter much to me, its still under factory warranty, etc. Only had 73 miles on it when I brought it home. I kinda wonder if they stashed it in the corner of the storage lot and just forgot about it or something.

 

[Dinky]

Actually, the end of the month/year is the best time to get a deal is a myth started by the DEALERSHIPS.
Makes no difference what time of the month it is, the only thing that matters is how long the vehicle has been on the lot.
Dealerships are allotted vehicles on a "Floor Plan" and pay so much each month until that vehicle is sold, the vehicle on the lot the longest will be your best "deal" because at a certain point, the dealership starts losing money on that vehicle until it is sold.
Dealerships will sell a vehicle at a loss (break even) sometimes just to get it off the lot!
Always ask for the vehicle that has been there the longest.

yes that does play a part so much but no dealer will drop the price at a complete loss. if that was the case many dealerships will be going bankrupt. most dealer ships around here will just whole sale a bunch of cars and make some money before they take a loss. lots of dealers run commission so sales guy will see a sale and drop their commission to get more sales happens a lot at the end of the month. the dealerships that just their sales guys hourly still get a little bonus if they meet the sales for the month. so it all plays a part to each but most things happen at the end of the month to make room for changes to next month inventory.

 

[Dinky]

basic economics no one sale stuff at a complete loss just to get rid of it. you will be bankrupt before you know it you need

While that's nice of you (and I mostly agree that one can usually catch more flies with honey), dealerships are out to make money, not friends. If the latter happens while doing the former, then fine and dandy, but the truth is they're always playing games. You and I may not be able to see it, but behind the scenes, they're definitely doing so. I bet the only position in any dealership that doesn't have to meet a sales number is the janitor, but I could be wrong ("How many times did ya clean the toilets today, Burt? What, just 20? Sorry, no bonus for you!").

TXCOMT

i just dont play games i just be a man about it and put my foot down. tell them how its going to be or just walk. its not hard to look at the numbers and see what going on.

 

[Tray Burge]

I sold new cars at a Lincoln dealership for a while, I know a few secrets that typically aren't privy to the average person.

 

[Dinky]

I sold new cars at a Lincoln dealership for a while, I know a few secrets that typically aren't privy to the average person.

my buddy worked for mini for 13 year inventory manager. lots for cars get shipped to brother dealerships and move inventory around or just whole sale.

 

[BTD07]

I sold new cars at a Lincoln dealership for a while, I know a few secrets that typically aren't privy to the average person.

Tell me all the secrets!

 

[Tray Burge]

Tell me all the secrets!

lol, they're are too many to list. I should write a book just to "stick it" to dealers, trust me, there's a lot of stuff going on behind the scenes your not privy too!

 

[BTD07]

lol, they're are too many to list. I should write a book just to "stick it" to dealers, trust me, there's a lot of stuff going on behind the scenes your not privy too!

Such a tease

 

[Random_Walk]

I can attest that if you have good credit, you can argue your way to a better interest rate, you can buy with zero down, and you can sign and drive with no issues. The issues begin with an F&I guy that thinks he can place a bad risk, and nobody wants to take the risk. Sorry if the truth hurts.

I can agree to that.

This past June I put $0 down, and the rate on my note is 3.5%. My FICO average hovers around 785(-ish), and was just shy of 800 when I got the approval. Mind, I have little-to-no debt (the truck, a credit card with $0.00 balance that I use for gas and pay down to $0 each month, the mortgage, and a nearly-paid-down personal loan (for new gutters 2 years ago) that's nearly done.)

BUT... it wasn't always that way. In autumn of 2015, I completed a 5-yr Chapter 13 bankruptcy payment stint (yay spouse's hospital bills! :/ ), and my credit rightfully sucked, because I was dumb enough to have been at my financial limits at the time.

There's a zillion resources online where you can learn how to bring your credit rating back from the dead, and though it took a couple of years (and waiting for the Ch. 13 to clear at year 7) watching the scores like a hawk, and a megaton of patience, it is more than doable. I didn't pay anything to do it (I used Credit Karma, but there's lots of similar sites out there - just do your homework). It only takes a little education, a little work, and a shedload of patience. This is partially why I waited so damned long to actually get a truck, so I didn't saddle myself down with debt.


--
All that said, if you have no other choice because you lack transportation, you can still arrange for financing before going to a dealership. Seriously, it is possible... you just have to have a big enough down payment, a provable debt-to-income ratio that's well under 25% (including house payment or rent, etc) which determines what you can spend (And don't forget insurance, gas, etc), and a bit of looking around.

Now - real talk? If your credit score isn't at least 725 or better? I would seriously not take on a loan for a truck unless I didn't have any other form of transportation (and even then, first I'd scrape up enough dosh to buy a mechanically-sound-enough hooptie for maybe $1k, if only to drive until I got my debt down and my scores up.)

 

[Random_Walk]

Agreed. I think the only reason I got the deal I got on my truck was because it was there for so long (just about 1 year between built and when I bought it)

Didnt matter much to me, its still under factory warranty, etc. Only had 73 miles on it when I brought it home. I kinda wonder if they stashed it in the corner of the storage lot and just forgot about it or something.

Same here... mine sat on the used lot of a Subaru dealership for over a year... they got it originally as part of an auction lot, and I suspect they didn't have a clue as to what to do with it.

 

[JColdIron]

I got the deal on my Ram from a Ford dealer. It was a de-badged Big Horn they took in as a trade in and didn't know anything about. Had it priced like a regular Quad cab. Then we haggled.

BUT I had to walk out of there 3 times to get them to play nice. Which was a pain in the ass as it was an hour from the house.

It was great to see the salesman's face when I threw him the keys back and said "welllll, I've got a few more trucks to look at today, guess I'll be going..."

You got to make them more desperate to make the sale than you are. Can't fall in love with a specific vehicle. Too many of them on the lots for that. Get preapproved, haggle hard and be ready to walk.

 

[Fitz-0518]

^^^And all of this good advice and professional experience come down to one simple understanding. Control. The party that is in control wins. The more control points that a buyer takes away or has in their control,,,the better the deal the buyer gets. As smart and as educated as people are today we still see too many customers mixing apples and oranges in their transaction. Trade in. If the dealer controls,,, you lose. Factory rebates and incentives. Have nothing to do with dealer price or profit. Financing has nothing to do with buying or price of a vehicle. We don't buy vehicles from banks. Dealers do not loan money. Worry about our younger trusting folks today.

 

[Casper]

I went into Courtesy Chrysler Dodge dealership in Tampa,FL and find the truck that I like and want. I was asked to go into the finance office where I sign and complete all paperwork and get approval from selected bank. All financing is complete and a sold sign is put on the truck. In a weeks time that I was able to get back to Tampa to get my truck I was in full contact with my salesman and the day I was coming I called and specifically asked is there anything else needed on my part. I was reassured that I needed nothing and to come enjoy my new truck. When I Uber from Bradenton to Tampa and go into the dealership I was asked for 2018 W2... why wasn’t I asked for this along with proof of income?? I don’t know how come I wasn’t asked for this the week before I came or when I called before I was on my way, I don’t know. Now that I’m stuck in Tampa thinking I’m driving home I’m told that I now need 2 thousand dollars more to purchase this truck. So now I don’t have a down payment of $1700, or a truck. I also have a credit score that’s been hit to the point that I can’t qualify for another vehicle. Dealing with Courtesy Chrysler has put me in a worse position than when I first went in.

***
Run, don't walk, away!!!. Crooks like that do not deserve your business!

 

[baum]

Op dealer is f*cking you! go to another one.

as for the debate on using the dealer or a cu to finance i will go with who will give me the best rate. Its your money in the long run who cares if a dealer make a profit off the loan. your not losing any its the bank that will make as much of a profit off of the interest.

Just an FYI dealer will lie saying you need to keep a loan open for x amount of time. the only reason they do this, as they dont get paid from a finance company for 90 days. if you close the loan prior to that 90 days the dealer doesnt get paid from them. but on the flip side there is nothing they can do to you either.

 

[RLJ10X]

Save your money. Be your own bank. Just pay cash. If you can make payments, you can put money into savings. I can't imagine having only $1700 and buying a vehicle.

 

[Black W900]

Save your money. Be your own bank. Just pay cash. If you can make payments, you can put money into savings. I can't imagine having only $1700 and buying a vehicle.

That's how I do it.....If I can't pay cash for it, I can't afford it.

 

[QwikKota]

The Chrysler financing is a joke, too, IMHO.

Credit score of 800+ at all of the "big 3", dealer was giving me 5.9%. I told then they were nuts, they " reviewed" everything and lowered it to 5%.

I financed the absolute minimum to get the cash rebate for using Chrysler financing then paid it off a week later.

Maybe it was just the dealer but I don't know or care.... Left a bad enough taste in my mouth that if/when I want another FCA product, it won't be from them.

Sent from my Nexus 6P using Tapatalk

I've had good luck twice with Chrysler financing. The first time was straight out of college so I doubt my credit was that great and recently in 2015. I got 0% both times due to promotions going on. I didn't even bother with credit union financing. The first time was tough with 36 months to repay but the Ram was 60 months which is better but not great with $650 payments. It was worth it to me to go for the 0% and larger payments though.

 

[pacofortacos]

The FCA extra incentives they give for a poor credit score really irk me.

I mean just because someone was irresponsible, they get an extra $1000 off but I don't because I live responsibly????

 

[18harvest]

amen on that.ran into that when i bought my 18 thought i might see about getting that extra 1000 off and it said people with bad credit scores wtf.you know those with a low credit score are going to pay that 1000 back ten fold with interest rates.