Your best defense against a bad deal is a better one. You can't know if a given deal is good without other independent bids. Their complete package deal with financing might be the best you can do, but without something to compare against, you have no way of knowing. It is also worth knowing how much you are paying for the special features that distinguish what you want to buy from other similar vehicles that are easier to get comparables for.
"Each increment of investment should be justified by its own increment of return." (Return on investment is measured against your internal rate of return for alternative investments.)
All's Quiet at the Moment. I'm feeling very strongly that things are about to go forward. Thanks everybody for encouraging and advising me through this. My beloved is dying slowly but surely. Ran hot on me twice this weekend (check engine light came on!) and her suspension problems are getting worse. I've been talking to her, asking her to please hold on just a little bit longer and I promise I'll let her rest. haha She's served me well over the past 16 years! Now she's tired and deserves a rest, just as I deserve a smooth, new problem free ride. talk them down to about 15% under the asking price. This sounds right-maybe even 18-20% less. This car is brand new, but has a few "demo" miles on it. And I hate to tell you snickerme, but it is the only one (with my preferences) on the entire market at the moment. I've checked everywhere. Had four salesmen at four different locations do nationwide searches. This one's been waiting for me! chipper, it's geman luxury and I expect it to last just as long, if not longer than my last german car. rig the numbers we've got their number huh pd11604! I will not let them put anything past me! I promise. Your best defense against a bad deal is a better one. You can't know if a given deal is good without other independent bids. Their complete package deal with financing might be the best you can do, but without something to compare against, you have no way of knowing. you are very wise on track. I contacted another lender, explained my history, etc and they quoted me a fair rate; but of course wouldn't commit until I apply. I don't want to do another loan app yet. If need be, I might as well wait for the end of the month when my reports also update my paid in full balances. I re-checked reports this weekend (free because of the roadloans turndown) and I see that the one account that was reporting me delinquient has been removed already. So my score should improve somewhat or balance out the recent inquiries in a few days should I need to activate Plan B. It is also worth knowing how much you are paying for the special features that distinguish what you want to buy from other similar vehicles that are easier to get comparables for. This makes alot of sense. Good point. I predict that I will be able to report good news soon!
You will not believe this, but the #$^@*# drama continues! There is something more to this than meets the eye. I'm starting to feel that it is personal. I hesitate to think this way, but all evidence is pointing in that direction. Sales guy and Mr. F&I called yesterday. F&I claims that he'd left me a message earlier in the week, but I didn't return his call. That's a lie. He did NOT leave any message earlier in the week. They now tell me that they can't use ANY of the documents i've submitted. They even had the nerve to question the validity of my sales: "Miss posvibes, these reports show that you are bringing in alot of income-but how can we know if there is any profit on these sales?" WHAT??? I asked him how he thinks i've managed to run a business for over a decade by selling things for less than what they cost??? Has anyone ever heard of this? Could there be sexism or some other kind of "ism" involved here? I don't know. But my gut is telling me that these two are deliberately standing in my way. It's a feeling that they for some reason don't want me to have this car. I don't know. What I do know is that they keep raising the bar for what the "bank requires". Mind you, they have yet to submit anything I have given them to the bank. First it was: the bank needs the past three months sales receipts-gross income. Gave them receipts for the past YEAR. Next: the bank needs proof that tax returns have been filed. Gave them that. Not good enough. Now the bank needs SIX months of previous bank statements showing consistent monthly deposits and official signed tax forms directly from the IRS. (this is a CAR i'm trying to buy, mind you-not a house) I asked him since when was it a requirement for me to deposit every last dime I make into a bank account? I FIRMLY reiterated that ALL the bank needs to know is that I have INCOME. A "steady paycheck" if you will. We ended the call with him telling me that he would talk with a banker whom he knows very well and see if they can make an exception just for me. How generous. The bottom line is I believe they are making up the rules for me as they go along. This is not what I expected at all. I'm trying super hard not to become discouraged. I need a new car and I want one that I will love and enjoy for years to come-not one that I was forced to settle for. I guess it's time to get my deposit back and walk away from this dealership? I hate to be defeated by these individuals. :-(
Does anyone think it would be smart for me to go over their heads and contact the car manufacturer's credit division directly on my own behalf?
I would suggest that if this is ThE car you really want, try and hang in there for a few more days. It is nearing the end of the month, and the salesmen really do what they can then to make a sale....they want those commission checks. They are anxious to make deals the last couple of days of the month. They get X amount of dollars per car sold, then once they go over a certain number, they get more per car sold. It can end up being a very hefty commission for them.
I'm sorry about your nightmare, which it clearly is. As a Fleet Manager, I have never, ever encountered anything remotely like this. (Although I work for a new school mentality outfit, IE high volume and 99% customer service will lead to profit in the long run.) In any event, I would get the deposit back. If you are still interested in dealing, which I cannot imagine you would be, ask 1. Which bank is requiring these documents and endorsing this strange line of questioning. The F&I guy is acting on the bank's behalf. 2. Ask for the bank's list of stipulations. They should provide you a photocopy of ALL stipulations that are required for the bank to fund a loan. You want the exact form which the bank provides the dealership's F&I office. As far as an 'ism' is concerned, this, as one incident, is probably not (but I'm not legal expert) an 'ism' because a dealership does not have to sell you a car. Now that's not to say that they will negotiate a deal and then turn you down, but if they don't want your business, they could take a car like a new E-Class, add a $5000 addendum and charge you 3 points over your qualifying interest rate - thus making it impossible for most to afford, not that you would want to even deal at that point. If you can prove that others of your sex, race, etc. have experienced this same treatment, then I would sue the Hell out of the dealership, become the new owner and fire everyone there That would be your 'ism'. I know other's have said this before, but I still recommend to all my own guests as well as friends to have financing pre-arranged outside of the dealership, and then go in for negotiations. Honestly, if you wanna little help, you can email me and I will be glad to call the dealership on your behalf. Good Luck!
hang in there for a few more days. It is nearing the end of the month, and the salesmen really do what they can then to make a sale Hi SnickerMe. Glad to have your input! I'm so trying to stay positive about the whole thing. Alright, if you think I should hang in there, I will! I want this to have a happy ending. I will try to have more trust in these people. I hope the end of the month makes a difference. It really is the car I want. (I had the same feeling about my other car) I looked at quite a few makes and models for two straight months before falling for this one! Oops.. just saw you Chipper. Reading your response now.
If you can prove that others of your sex, race, etc. have experienced this same treatment, then I would sue the Hell out of the dealership, become the new owner and fire everyone there That would be your 'ism'. I hear you loud and clear! Honestly, if you wanna little help, you can email me and I will be glad to call the dealership on your behalf. Thank you for your offer to help. I really appreciate it. mail.
They are playing you! I would do as chipper says and get your deposit back and walk Another "dream car" will come along Don't be talked into anything If you agree to their outrageous terms - they win If you walk away - they lose!
Quick Update Sales Guy called today-still asking about the &*^#@ tax returns. haha I told him that enough is enough - this has been dragging on too long and it was starting to feel personal. (like i'm "being played", as pd mentioned) Well, he re-assured me that was not the case. He said they really want me to have the car and are willing to hold it as long as it takes; and the truth of the matter is that he and F&I have been stalling because they are just not able to get anything done for me through the car maker's credit division. Ok, fine. Just be honest with me, you know. Let's not waste anymore of each other's time. So, I am now on a quest for my own financing. I have set an amount that I need (which is imo quite reasonable) that will still be ok even if the interest is somewhat high. I will take a different approach this time -taking on track's advice about having my eggs in more than one basket. Also, i've managed to locate another car like this one. Doesn't have all the features, but is just as good-if not better. and new. At least I already have another option on that end. My Eq report is scheduled to update in two weeks-so the timing this time around should be better. I will not be defeated by this!!! I mean it!!!
Just call me pit bull. Like I said before, I refuse to let people stand in my way or get the best of me! I couldn't rest all weekend. Something kept telling me to contact their finance company directly to try and get to the bottom of this. The lady I spoke with said she was not able to deal with customers, but I sort of coaxed her into giving me the information I needed. I told her that I was being stonewalled by this dealership and I am feeling fearful of their tactics. I also told her that I have a right to hear a concrete "no", if I had been turned down for financing through their company. Well, guess what? My application is still open and waiting to be processed/approved. She looked up my file and told me exactly what they are waiting on (and it is NOT tax returns and all that other BS!) She also told me that I needed to call and speak with a different finance manager. Turns out Mr. F&I has not turned in one document. NOT ONE. Not even the documents I received from the creditors stating that those old accounts are paid in full or otherwise resolved. I promptly called this new person and said: "I spoke directly to car maker's credit division. They told me that my account was still open and waiting for more documents; but Mr. F&I told me to go get my own financing because there was nothing he could do." I could tell that he was not too happy with that last part. This new one is supposed to call me back once he's reviewed my file. Will see. The plot thickens. They're going to end up giving me the car, just to get rid of me. haha As far as i'm concerned, it's not so much about this particular car anymore. It's about principle. How many other customers have they mistreated in this way? Regardless of the outcome, i'm not letting it go until I get to the bottom of what's really going on. By the way, i've disputed every last item on my reports! I'm mad and not taking it anymore. haha
Not sure if anyone cares anymore - haha - but I wanted to report that i've managed to make strides in my report cleanup! I've gotten 5 deletions and 1 removal of the Bk7! Although the removal of the BK is probably moot since some of the accounts are still there showing included. Question: Does anyone know if that removal will have any effect at all? I've even managed to get MBNA to update correctly. They were not budging at first. Anyway, I hope all of this improves my score. Everything is scheduled to update by the end of the month. My plans for the car are still on. Have a new appointment this weekend. I'm going to get it right this time around! Plus now I have a little more for my DP if necessary! Thanks again to creditnet and the experienced posters here.
It's been a while since i've been on this thread, but I thought I would let everyone know that my aggressive CR cleanup worked. I have been approved for an auto loan finally! The rate is not too bad considering my history: 8%. I was bracing for 10 or 12. My score rose to 660 right after the first round of disputes and I still have some deletions scheduled to take place at the first of May. The finance company said that score was close to what they consider good credit for an auto loan. (680+) So all and all, the frustration was worth it I suppose. Keep the faith those of you still working on it. It will come. Now, i'm going through the hassle of finding a dealer willing to give me a decent price on the car I want. That's seeming rather elusive. Seems like there's always something else. So, i'm going to give it all a rest for a while and start shopping again later. Whatever. The anticipation and joy of making this purchase is no longer present for me. Oh and btw, for those following from the beginning; turns out that dealer number one that created so much drama HAS been sued (sucessfully) for that "ism" I mentioned before. It figures. They were really rotten. I knew there was more brewing underneath the surface there. Special thanks to chipper for his personalized input and auto buying wisdom.
You are welcome and one more thing: GO ON THE LAST DAY OF THIS MONTH, AN HOUR BEFORE THEY CLOSE! Your Friendly Fleet Manager
Third Time was the Charm. I picked up my car yesterday! Dealer number two (that got me the 8%) would not budge on their exhorbitant price. So, I ended up going to the internet on my own and finding it there! Got an excellent price on a just ended leased vehicle - less than 10K miles - immaculate condition - all the popular options! PLUS, - not only factory warranty but factory maintenance as well! I can take her anywhere for oil changes and whatever other scheduled maintenence she needs! These folks ran me through Cap One for 9.9. I didn't mind since the actual price of the vehicle was below invoice. I put more down so the financed amount would be less. It worked out to be the deal I'd hoped for when I first started out in March. I had to go back to dealer number two to pick up my paperwork. They all stood around with their mouths open as I drove up. haha My sales guy told me that he was sorry that they 'dropped the ball'. I told him that I like them anyway and would like to have my service needs taken care of there. Finally, I'm One Happy Camper! I've driven 200 miles around my city in two days! On my way to solid re-establishment!
Congrats! All of that and you finally got your car. Good thing about the maintenance because it's expensive!!!! Enjoy
For others who may be searching: the internet car shopping experience was great... The independent dealers there are motivated to make deals and move the merchandise! Thanks Chipper! Re: the expensive maintenance It's in a Class by itself i'm sure. ;-)
