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Smart Shopper Buying a Car During the Credit Crunch
343 messages, Last post on Nov 14, 2008 at 5:59 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Replying to: 8sparkplugs (Oct 29, 2008 10:05 am) One thing to keep in mind is that some times the credit challenged customer has a loan origination fee associated with there contract the average buyer does not. It can sometimes equal 10% of the selling price which comes out of dealer profits. So if you and a credit challenged customer were buying the same car your rock bottom price might be $20K where theres is $22K for the same car. Dealer is still only getting $20k with the extra $2K going to SLNB (Shady Loans National Bank). |
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Replying to: mikefm58 (Oct 29, 2008 10:46 am) |
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Replying to: volvomax (Oct 29, 2008 9:38 am) 
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Replying to: euphonium (Oct 29, 2008 11:46 am) |
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Replying to: mikefm58 (Oct 29, 2008 10:46 am) First of all, it is very very rare that a salesperson lies to a customer anymore. There are simply too many ways to get caught. All you end up doing is re-inforcing a stereotype. You are lumping 99% of the car business w/ less than 1% of offenders. So, unless you have proof that the majority of car salespeople do in fact lie to their customers I would retire that tired old cliche. As for Doc fees, or anything else, if you as the consumer don't like them, walk away. Remember that the bottomline is the only thing that matters. If dealer A has a $300 Doc fee, and Dealer B doesn't, but dealer B's bottom line is $100 more than dealer A, then pay the fee and save the $100.
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Replying to: euphonium (Oct 29, 2008 11:46 am) old and long. 
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I worked at a dealership for a while, i finally quit a few days ago. Talking about the credit issues, If you have good credit, anyone will finance you, remember, banks wont stop giving loans out because thats how they make money. the other thing, dealerships know that every customer thinks its hard to get financed so they play games with customers to make it seem hard, than out of nowhere they somehow got you approved with a little higher interest rate and that was the best they can do, also, in order to finance you, the bank wants to see that your protected so they throw in the extended 2300 dollar warranty. You can read how to buy a car in a unstable market on my website Buying cars in a unstable market |
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Replying to: pavelbarchuk (Oct 29, 2008 1:38 pm) Sounds like you worked at real grinder tell them what they want to hear store.
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Replying to: kirstie_h (Sep 30, 2008 11:35 am)
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Replying to: pavelbarchuk (Oct 29, 2008 1:42 pm) Thats almost laughable. How long was you career at the $1000 minimum, bank says you have to buy the $2300 warranty store? There has neve been a better time to buy a car then right now. Dealers want them off the lot and off the floor plan.
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