DateLine NBC
Registered User
Joined: Oct 2002
Posts: 820
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From: va beach
i sell cars and i have a couple problems with what was on the dateline story...
number one they say bypass the financing dept completely. by bypassing the finance dept you miss out on two VERY important things. #1 being able to buy an extended warranty (not that big a deal)
#2 the most important. if you bypass finance then you lose the chance to buy GAP insurance. if that girl in the show didnt put any cash down toward the loan, and she were to total the car on the drive home. SHED BE SCREWWWWED! gap is EXTREMELY important if you finance not only the car but tax's and tag's. shed be about 4 grand short of what her insurance company would give her if that VW was totaled.
and why finance through your bank??!!?? if the dealership can offer a lower rate, why the
wouldnt you want to finance with them.
some of what they said was helpful, but a lot of it is going to hurt consumers that follow it to the "T"
number one they say bypass the financing dept completely. by bypassing the finance dept you miss out on two VERY important things. #1 being able to buy an extended warranty (not that big a deal)
#2 the most important. if you bypass finance then you lose the chance to buy GAP insurance. if that girl in the show didnt put any cash down toward the loan, and she were to total the car on the drive home. SHED BE SCREWWWWED! gap is EXTREMELY important if you finance not only the car but tax's and tag's. shed be about 4 grand short of what her insurance company would give her if that VW was totaled.
and why finance through your bank??!!?? if the dealership can offer a lower rate, why the
wouldnt you want to finance with them. some of what they said was helpful, but a lot of it is going to hurt consumers that follow it to the "T"
Registered User
Joined: Dec 2001
Posts: 590
Likes: 0
From: South Jersey
Originally posted by rickycrx
There's a simple way around that....
Write a check for your car and be done with it.
No muss, no fuss, title arrives in the mail a couple weeks later.
There's a simple way around that....
Write a check for your car and be done with it.
No muss, no fuss, title arrives in the mail a couple weeks later.
Heh, I just realized why you sound like such a dork...
-Nick
Registered User
Joined: Aug 2003
Posts: 1,130
Likes: 0
From: Redmond
Originally posted by rickycrx
There's a simple way around that....
Write a check for your car and be done with it.
No muss, no fuss, title arrives in the mail a couple weeks later.
There's a simple way around that....
Write a check for your car and be done with it.
No muss, no fuss, title arrives in the mail a couple weeks later.
Golllleeee geeee, why didn't I think of that?
Feel bigger now?
Registered User
Joined: Nov 2003
Posts: 203
Likes: 0
From: Helms Deep
Originally posted by rickycrx
There's a simple way around that....
Write a check for your car and be done with it.
No muss, no fuss, title arrives in the mail a couple weeks later.
There's a simple way around that....
Write a check for your car and be done with it.
No muss, no fuss, title arrives in the mail a couple weeks later.
Joined: Jun 2003
Posts: 420
Likes: 2
From: Livermore
I had this sort of experience at Acura in 1996 when purchasing my GSR (I've been a V-Tech fan for quite a few years).
They offered 10.9% APR if I took financing THEN, and 11.9% if I called back "even 10 minutes after" I left. This pissed me off so much that I ended up just paying cash for the car.
Then the guy goes on to tell me that I would void my warranty if I went with after market CD changer and security system. I just thanked him very much, then sent the information to Acura.
It turns out that he was subcontracting to do financing for this dealership, and they didn't like the take it now or pay extra approach or the fact that what he SAID was illegal in CA (it's actually illegal to even SAY that aftermarket equipment could void your warranty. It MIGHT, but only if PROVEN to be the problem.). They were even more upset that I knew this I guess, so they called me back the next day, and even followed up with a letter a week later announcing his termination. I even went by to check and they had a new finance person.
This was Stevens Creek Acrua in Sunnyvale, CA. They take the honest approach seriously.
The stook was purchased in Livermore from Richard. No-nonsense guy, great deal, no surprises after the deal (and NO firings this time!)
By the way, the experience with financing was so bad at Acura that I purchased the Integra, the S2k and my wife's 2003 325i with cash. The above poster does have a good point!
They offered 10.9% APR if I took financing THEN, and 11.9% if I called back "even 10 minutes after" I left. This pissed me off so much that I ended up just paying cash for the car.
Then the guy goes on to tell me that I would void my warranty if I went with after market CD changer and security system. I just thanked him very much, then sent the information to Acura.
It turns out that he was subcontracting to do financing for this dealership, and they didn't like the take it now or pay extra approach or the fact that what he SAID was illegal in CA (it's actually illegal to even SAY that aftermarket equipment could void your warranty. It MIGHT, but only if PROVEN to be the problem.). They were even more upset that I knew this I guess, so they called me back the next day, and even followed up with a letter a week later announcing his termination. I even went by to check and they had a new finance person.
This was Stevens Creek Acrua in Sunnyvale, CA. They take the honest approach seriously.
The stook was purchased in Livermore from Richard. No-nonsense guy, great deal, no surprises after the deal (and NO firings this time!)
By the way, the experience with financing was so bad at Acura that I purchased the Integra, the S2k and my wife's 2003 325i with cash. The above poster does have a good point!
Joined: Jun 2003
Posts: 420
Likes: 2
From: Livermore
(No, that wasn't mentioned to make me "feel big". I don't buy anything unless I can afford to pay cash for it-housing being a different story here in California though! This was after my driving a 1979 Celica that was replaced by the 1996, and my wife had a 1993 Altima replaced by the 2003 325. I just hadn't read the NEAR flames that the other poster received.)
No need for flames!
No need for flames!
