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Smart Shopper Got a Quick Question for a Car Dealer?
2396 messages, Last post on Dec 08, 2009 at 1:04 PM
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Replying to: valentin650 (Oct 30, 2009 10:16 am) |
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I was listening to a TV ad by a local screamer dealer who moves a lot of cars. One of the things he was bragging about was that he had great inventory. This is compared to most dealers around here who still seem kind of empty from the C4C program. My question is this: Do car makers give preference to the dealers who move the most iron? Would a dealer who sells 100 cars a week get preference over a dealer who sells 25 a week? Would the larger dealer have his pick of the "hot" cars when there is limited supply? I wonder if this is the reason some dealers are reluctant to do factory orders?
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Replying to: oldfarmer50 (Oct 31, 2009 1:58 pm) |
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Replying to: jf2737 (Oct 19, 2009 2:13 pm) I just purchased a 2010 Sonata-nice car.I told car dealer that I was using my own credit union to finance this purchase.I had a letter with app approved for $18.000.It wasn't a draft.It's a saturday at 9pm and my credit union is closed until monday morning.I traded a 95 maxima with 152,000 on it.I had since new 15 yrs ago.The credit union acted like I don't need a draft.So,tonight while buying this new car.The finance manager said he can't let me have a $20,000 car until the buying order is faxed to my credit union first thing on Monday.I didn't feel comfortable about this contract.I did put MB as intials down in 3 spots on the contract.My intials are really EB and I left no full signature on that form anywhere.They swear they will tear up this form after my credit union pays them $16,700 in a check?I hope this is some trick and they put this other high interest contract thur instead of my credit union loan?I have 2 days until Monday to find out I guess.They don't have my SS # and I got them to not run a credit union as far as I know.They claim that between now and Monday they have to show like collateral for the dealers bank whom gave them money for this car.If they were to be audited tommorrow they have to show something because I don't have an actual draft from my credit union,just a letter saying I was approved with an app number and $18,000 amount.They also are north of Orlando about 70 miles so my credit union isn't a bank they normally deal with.Maybe no direct electronic connection to my credit union.Please any input on if this is a trick by this car dealer or they will tear up this other contract on monday.I greatly appreciate any suggestions or the clear my concerns some?? Thank You,Eric |
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anyway, justhad this discussion a week or so ago here. But, it is a normalpractice to cover the dealer in case the other deal falls apart. if you are uncomfortable, the simple answer is wait until the check/draft from the CU is cleared on monday before taking the new car. but, if you want a spot delivery, the 2nd contract covers the dealers nut. Yes, they will tear it up. if they didnt it would be some kind of fraud, trying to have 2 contracts on the same car!
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Replying to: jf2737 (Oct 20, 2009 7:09 am) I posted on another thread this question.I just brought a 2010 Sonata in Ocala,Fl.I used my credit union which doesn't have branchs this far north of Orlando where they are a bigger more known credit union.I have a letter the loan officer faxed be saying I'm approved on a car loan for $18,000.I asked my credit union about having a draft in hand.They said I don't need it.The Hyundai dealer asked for a draft.Its a saturday at 8pm and the sale is happening at this dealer.They have to wait until Monday morning to fax my credit union the buyers order.They say the dealers bank whom loans the dealer money to have cars on their lot could audit their floor plan and they have to have a finance contract with higher 16% interest having me sign until my credit union comes thur on monday.Because its to cover the dealer until monday letting me drive off in a $20,000 is what the buisness manager told me.I just hope they will tear this other high interest contract come Monday.This would be terrible if they are tricking me??Please reply here or to me at eb2112  tmail.com to releive my stress over wondering about this issue.They don't have my SS# and they said they didn't run my credit report.At first they wanted too.I put just intials on that finance contract.I put MB instead of my actual intial which would be EB in 3 places.I didn't put my full signature anywhere on that contract.He folded it and stapled it together and put it in the folder.He claims it will be torn up.Help,before I have a heart attack.Thank You very much. Eric |
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Replying to: stickguy (Oct 31, 2009 9:01 pm) I appreciate your quick reply.I took delivery tonight.I keep updating my credit union officer.I told him I was still looking 2 days ago and to leave the loan open.This Hyundai dealer in Ocala claims they don't use Fairwinds credit union,so they don't normally deal with them being its more an Orlando area credit union.So,your saying it sounds like it's just the buisness manager covering his butt.I hope so.That would be a dirty trick to proceed with 16% contract when I have an 8.50% rate for 60 months already??Your great help.Thank You, Eric
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Replying to: oldfarmer50 (Oct 31, 2009 1:58 pm) Car dealers get cars by allocation. How the formula is figured will vary by manufacturer and model but is basically a turn and earn process. Sell one, get one. But it will vary by availability. |
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I recently saw a 2010 vehicle that was being sold at a dealership as a used car with only 10 miles on it and I am wondering if this is normal or something that I should be concerned about?
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