Another story that validates never to finance with the f and I guy at the car dealership

[CKN]

I

Yes, I bought my last one with an e-price before I got there. I would happily argue on price for 3 hours to get the best deal on my own, but rather not put her through it.

I agree its caveat emptor and the buyer is ultimately at fault. But I couldn't live with myself doing that for a living. They know when they run your credit how likely the deal is to go through. They dump the crappy trade and look forward to the big bonus on the oppressive sub prime loans. They could easily flag it, put a hold on it and wait for it to go through. I worked at a small town GM dealer as a kid, and they would never treat someone like this - not just because word would get around, but because the owner was actually a decent guy.

I don't have them run my credit until I am sure I want to buy a specific vehicle at that dealership that day. What I do is show them my "Credit Karma" score which I find is pretty close to FICO. So I am pre- qualifying myself so to speak. I have walked away after a preliminary deal because there were games being played.

 

[NismoNVT]

I have seen this happen before, especially with more complex lease contracts being bounced back from the captive finance in all brands, but for some reason whether its the demographic they serve or just the FMs that they hire, I usually here about this from a Kia/Hyundai dealership the most.

In this case, I would have just dropped the car back off the first time around and gotten external financing myself before attemping to resign.

 

[nthach]

Dealerships are never your friends. Even high-end marques. Yo-yo sales are more common with the sub-prime customer than the prime client. And even so, even people with 700+ FICOs get hosed at F&I.

Sure, there’s a certification F&I can take - but at the end of the way, they’re just taught how to use ReyRey or ADP for paperwork and the sales tower already has relationships with lenders.