I tried that 20 years ago. Said that I came from another dealer and they were a lot less expensive for the same car. Sales guy said, If I were you, I'd go back there and buy it.
The more expensive dealership closed soon after my visit.
Tried to buy a Mitsubishi Mirage yesterday
- Thread starter Finklejag
- Start date
The more expensive dealership closed soon after my visit.
I was communicating with a Mitsubishi dealer in the next State over about buying a Mirage. I’m looking at the SE trim and they are hard to find. This dealer gets 4.8 google stars on reviews, take that with a grain a salt. They sell their cars with no ADM or dealer installed accessories so they say. So the salesman emails me a purchase order and I notice on the bottom a Thief charge of $299. I replied about it and says it‘s VIN etching and you can decline it. I then asked him if they etched all the windows already because I won’t buy the car if it has been done. He came back and said they put the VIN on different body panels only. He emails me the contract with a 7.75% interest rate and says the loan will be going through BofA. I then went on the BofA website and their rates start at 6.49%, I have a 800 FICO, so I would qualify for their lowest rate. I emailed him back and told him this and I said I think you guys are padding the rate for profit. I haven’t heard back from them since this last email. I know it’s legal for dealers to add points to loans but I feel it’s unethical in my mind. These dealers will try to do everything that is still legal to fleece your money. Having a huge lobbying group with big pockets helps keep stuff like this going.
If you still want the car after all those gyrations, go arrange your own financing.
Then, they lose their spiff.
Some dude who probably answers to the name Pete Polyester tried that on me once.
Pulled out a Capital One check and wrote it for the full balance.
Really bunched his boxers.
Good times. LMAO off after leaving the dealership.
I don’t think you understand context
I would tell the dealer that the terms I accept are XYZ for the loan and other nonsense and if they don’t like it I’m buying in cash.
That should motivate them since they would loose their loan and other cash cows
I don't think you understand my point either.
You can demand your terms all you want, and they'll just watch you walk. Read the original post for an example.
And I do walk, I never buy a car when I need it, I send terms to a variety of dealers and am open about it.
It may take years for me to buy a car but eventually I get one that I like at a price with terms I want.
Sure, you certainly have flexibility and leverage when you can spend years looking.
I would have walked, no "requirement" to run my credit when I'm paying cash.
We have bought 4 cars in cash over the years, never had that happen.
Just curious. How recent and did you write a personal check?
2015 and 2018 for the last two, yes, wrote personal checks and drove them off the lot same day. Maybe things have changed since then.
They're protecting themselves, a lot of counterfeit checks running around out there.
You would think that banks would be smart enough to figure out which vehicles are using JATCO CVT's and refuse to make loans on those vehicles.
You would be hard pressed to find a dealer who will not run a credit check when you write a check. That's one way to verify who you are.
Sorry-that's just good business-car dealer or any other business for that matter.
When I bought my 07 Altima new I didn’t notice the VIN etching on the windows. They installed it crooked on the driverside window and that was all I saw when I looked out that window for the next three years.
If you are you need a professional retirement planner. Yes-you show income from a sale of a property-your part "B" will go up.My reasoning is If I am making 9% easily and the loan is 3.45% money is staying invested.
Plus making and paying loans has given me the highest credit score.
Today's Market for the average investor is flipped now - so the cash or loan decision is a wash I suppose.
But it is nice (or important actually) to have cash for emergency expenses. I don't want to trigger the TAX Man when having to pull pre-tax invested monies from the IRA.
This is even more of a shell game in retirement than I imagined it would be. Even Medicare thinks you are rich if you take some money out for a DP to buy real property - they will jack up your part B cost at some cutpoint.
And I have been getting hammered with "surprises" this first year of retirement
So much "fun" so little time!
I'd say it's best to have your cash in-hand when car shopping, whether that's from your own stash or an approved loan with a blank check. And if you have to get a loan, always try your local credit union first as they typically have the lowest rates. Then you can just negotiate the OTD price for the car/truck/thing you want and walk away at any time.
It's also a good idea to plan ahead and look for specials, whether that's a big holiday sale, end of the year sale, etc. Do your best to not need to buy a car, as that eliminates much-needed thinking time and cooling off. On the other hand, car buying is often emotional more than logical, so most of the advice here and elsewhere is unlikely to be followed until hindsight and bad experiences take their toll.
It's also a good idea to plan ahead and look for specials, whether that's a big holiday sale, end of the year sale, etc. Do your best to not need to buy a car, as that eliminates much-needed thinking time and cooling off. On the other hand, car buying is often emotional more than logical, so most of the advice here and elsewhere is unlikely to be followed until hindsight and bad experiences take their toll.
AZjeff
$50 Site Donor 2023
@ARCOgraphite , you never mentioned where you’re making 9% easily. How much risk?
Could be, or in Seattle area - a lot more scammers. Maybe your dealers are more trusting.
BTW For the professional record I am not objecting to the credit check, per se, but the no go on skipping the credit check, allowing check to clear and getting the truck later. Totally foreign to them. I suppose there are some devious things that can happen after check clears, or as you say - I could be a thief, stole the identity and real person oblivious/comatose.
GON
$100 Site Donor 2024
Argentine Peso money market.
