Tried to buy a Mitsubishi Mirage yesterday

[97K15004WD]

The big long form with the total being loaned, APR, term, total amount to repay is a standard loan contract most lenders will accept. They will not take one with edits.

Not true at all. I've done this for years. If they don't accept my reasonable changes, I get up and walk.

Sometimes I get what I am asking for, sometimes I don't. Doesn't matter as it not life or death. If you have never done this, then don't just assume they won't accept it - because most of the time, they will. Making a sale matters when you have numbers to meet.

Like I said, I've done this for over 30 years. Learned this in a financial management class from my professor. Others scoffed - I listened.

 

[97K15004WD]

On another note regarding edits, you must be reasonable and not ridiculous in your demands. Know the market, know what you can bear, and know what options you have if this contract (that's right, it's a contract - takes two to make it work) doesn't pan out.

Be informed, and make informed choices.

 

[dishdude]

Not starting a debate on EVs, but this is what I like about Tesla. Show up and pick it up and they only care if the check clears. Handed them a check and left in 5 minutes. I'm over the usual dealer barter.

The direct to consumer, no-nonsense Best Buy type model Tesla has is excellent. The problem is when it comes to service....

 

[dishdude]

On another note regarding edits, you must be reasonable and not ridiculous in your demands. Know the market, know what you can bear, and know what options you have if this contract (that's right, it's a contract - takes two to make it work) doesn't pan out.

Be informed, and make informed choices.

You can potentially negotiate and modify any terms on a dealer level sales contract. A modification to a lender agreement will not happen.

I'm all for advocating for the consumer but we need to keep things to what is possible.

 

[WeyounDS9]

I would secure the loan yourself.

When you do that you take away a part of the dealers ability to offer discoutns on the car itself.
The back end of the deal ( as its called) involves afinders fee for the loan originator.

Just bought a vehicle a few weeks ago and this was the only profit center left for the dealer (10,850 off MSRP)
I had no beef with it and financed with them.

 

[Torrid]

The direct to consumer, no-nonsense Best Buy type model Tesla has is excellent. The problem is when it comes to service....

I’ll take the guaranteed up front buy over the maybe after care service.

 

[CKN]

I’ll take the guaranteed up front buy over the maybe after care service.

I bought a used F150 from a non Ford dealer. Still had some factory warranty left. The radio was acting up-it was a bad APIM. (Computer box-behind radio-$400.00 part). The Ford Dealer replaced with no questions asked after they verified that was the issue. The drivers side seat belt coating came off-they once again verified the issue and ordered the part and later installed it. All of this at no cost to me.

Just don't understand the "maybe" part.

 

[Rmay635703]

They're protecting themselves, a lot of counterfeit checks running around out there.

Checks with ids can be digitally checked with the bank on the spot.

Likely don’t want to pay the fees, MO or cashiers check is the other way.

 

[M1Accord]

Whittle them down to the lowest cash price, forget about the APR. Get a contract without early termination penalties and refinance that thing the following day.

One thing to note is that refinancing would be with a loan against a used car by policy. And that would be subjected with a higher rate even though the car was just bought that day.

 

[Kurtatron]

I guess you didn’t end up getting it one. It was all just a mirage…

 

[97prizm]

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.

It's not certain but some say that Mitsubishi isn't long for the USA market just like Dihatsu, and Suzuki were. They don't have many dealerships and the one that I visited were a ghost town.