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Smart Shopper Smart Shopper-Archives Any Questions for a Car Dealer? 
16377 messages, Last post on Feb 11, 2006 at 4:59 AM
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What is the best time of year to sell a car? I would think (at least in New England and northern states) that this might be a good time- lots of people thinking their old cars might not make it through the winter.... Any historical rules of thumb for this sort of thing? |
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Again you keep trying to put words in my mouth. Never did I state that it is our dealership's policy to pull everyones' credit bureau. I said it is not illegal in the state of Va. No I'll repeat what audia8 said: If a customers gets anal retentive about the credit issue (interest rate) we will gladly ask for his permission to check his credit in order to quote him/her/they the rate they qualify for. Like I said I could care beans about what their credit is until we settle on the vehicle they'd like to purchase. ; ) Mackabee P.S X-FILES back on November 5th. I'll see you there agt. Cooper. |
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In relation to the 20/20 "expose" on dealership loan practices, I came across this little tidbit that is required by Virginia any time a party to the sale of real estate is also going to assist in securing the mortgage and will profit from that assistance. This notice must appear on a loan application in bold type, minimum 10 point size. It must be acknowledged by signatures of all borrowers. NOTICE We have offered to assist you in obtaining a mortgage loan. If we are successful in obtaining a loan for you, we will charge and collect from you a fee not to exceed .... % of the loan amount. We do not represent all of the lenders in the market and the lenders we do represent may not offer the lowest interest rates or best terms available to you. You are free to seek a loan without our assistance, in which event you will not be required to pay us a fee for that service. If you are a member of a credit union, you should compare our interest rates and terms with the mortgage loans available through your credit union. Maybe something like this should be added to the buyers order for dealerships who will also arrange financing for the customer? I'm sure the "suit" who was representing the dealerships on "20/20" would be in favor full disclosure on this "valuable service" that dealers provide...... |
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I was at a Toyota dealer this past weekend looking to buy a 2001 Avalon. The negotiations were going well and I ended up with a great price. When the saleman began to fill out the buyer's order whee he lists the car with the options and my down payment (it's like a dealer standardized form) I saw that there was a $399 "processing and delivery" charge that is assessed automatically. I asked the saleguy to explain this fee but he just gave me a roudabout answer. I walked out because I can't think of what kind of service would justify this amount. I was afraid to sign thinking that this was a scam by the dealer to recoup whatever money they lose from potential negotiations. Is this fee justifiable and if not, how can I negotiate to get it lowered or off the application all together? Thank you. |
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| Processing fee is probably just a way to recoup money lost in negotiiations. However, if the fee was not included the final price would probably have been $400 higher. It is also reasonable to assume that a state inspection, Pre Delivery Inspection, Full detail, Full tank of gas, and various notery and other charges could total $399. Your graet price was probably at least $400 lower than any other price you got because of this fee. I'm sure you could attempt to negotiate it, just don't expect it to work. | |
| Who care if dealers are making money on the financing of a car loan. What's the difference if a bank makes the money or a dealer does. | |
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| What does it mean when a fleet manager says that they want to get "100% survey" when selling a car at fleet prices? | |
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Congratulations on having the sense to walk out of the dealer when they tried to add in that silly 'dealer processing fee' In the future, the best way to avoid this fee and other surprise add-on charges is to make an 'out the door' offer. For example, when we bought our last Honda, we offered $20,300 OTD. They accepted, we gave them a check for $20,320 ($20 for a fancy license plate), and drove the car home. |
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