Car dealerships how do these people sleep?

[Joshuaace]

I went to buy a new car yesterday. I'm a simple man. Just wanted a base model Corolla brand new that's it. Found the lowest price and went to buy it. Guy comes back says my credit is excellent lets get it going.

You were already off the rails. You agree on an "out the door" price BEFORE you give them permission to run a credit check.

"I already have financing in place, I'd be glad to entertain your offer on financing AFTER we agree on an OTD Price on the car."

 

[RoastBeast]

Any loan that's under the rate of inflation is like free money.

Think of it this way: right now a money market account pays nearly 5%--why would you tie 10's of thousands of dollars up in a car to avoid a simple interest loan of 2-3%?

True but this really only applies to holding off on paying off a loan that you already have. You aren't going to get an auto loan with an interest rate under the money market account right now.

 

[method115]

You were already off the rails. You agree on an "out the door" price BEFORE you give them permission to run a credit check.

"I already have financing in place, I'd be glad to entertain your offer on financing AFTER we agree on an OTD Price on the car."

I agree and it's what I did before but this was kind of a rush because my wife's transmission failed and I was giving her my car and getting a new one. So we were stuck with one car and all this was happening while I was working and I literally just got done using all my PTO. The day her trans failed and we got a quote for repair cost is the day I had to go back to work.

It all worked out in the end but it just required me constantly threatening to leave. I knew what I was signing and I knew the point of no return. So I was making sure I never signed anything that would take it there until I got the deal I wanted. Which is why they kept coming back with better and better deals because they knew I could just walk if I wanted to.

 

[ColemanwastheGOAT]

Just buy a used car privately for cash. You get a better deal and none of the bullshit.

 

[scoopj]

Pay cash. Problem solved.

 

[TheNinja]

This is basically how I got them to drop the BS is I kept saying I'll just go somewhere else or I can find a better deal and threatening to leave.

The same thing happened to me with the MSRP and all of that in 2020 when I got my current Corolla that my wife is now taking. I shopped different places to get the lowest price and found a place. They sold it to me at the price they said they would and no BS. Yes, they offered the accessories I just said no and got the car.

I shit you not like a couple days later I respond to a dealership and said I already got the car for 18k but thanks. He then says, "You should have told me I could have went lower". I didn't even respond because I did fucking tell him already it was in the email chain and he said he couldn't do it. He also claimed that the dealership would try to add some BS addons stuff but they never did.

Good for you man!! Ya, they prey on people either too dumb or too much in a hurry. Or people who are stuck....like their car died or was in an accident and they need a car that day.

If you give yourself time to shop and don't NEED a car that day or even that week you can really push them to make a deal.

On a side note what I do with their "5 year/60k everything included warranty", I always tell them to skip it. Eventually many will give you 7-8 year 100k coverage for the same price , which to me is worth it b/c repairs are so damn expensive now.

 

[TheNinja]

Pay cash. Problem solved.

Cash vs credit isn't like it used to be. The whole idea "better price for cash" doesn't really exist. In fact from what I've seen, many will give you a better price if you finance b/c they can make money on the financing. Then just pay off your loan early. YMMV.

 

[Yorick]

Yea, this is what did with my Dodge Ram 2500.
I put $40k down on a $60k truck, “financed” the rest and paid it off when I got my first bill. Because it was within 60 days, my name was on the title from the outset not some lien holder.

 

[JudoThrowFiasco]

Take out a line of credit from your bank at a lower rate, then get the dealership to drop the price due to a cash deal. Unless you habe pleb credit, or the dealership is offering sub 2 percent financing, always go through a bank or union

 

[scoopj]

Cash vs credit isn't like it used to be. The whole idea "better price for cash" doesn't really exist. In fact from what I've seen, many will give you a better price if you finance b/c they can make money on the financing. Then just pay off your loan early. YMMV.

TS main complaint was his monthly payment. If he had the cash to pay the $21k, all ambiguities are gone. He wasn’t comfortable with the math which is a result of trying to finance.

Edit… but yeah, if you can get a better price and just pay off in a month or three, all the better.

 

[boingyman]

Any loan that's under the rate of inflation is like free money.

Think of it this way: right now a money market account pays nearly 5%--why would you tie 10's of thousands of dollars up in a car to avoid a simple interest loan of 2-3%?

Because people love to give sub par advice and have poor personal finance knowledge. I have loans on both my Honda and Toyota even though I could pay cash. Honda @ 0.9% 60 months and Toyota is 1.9% 48 months. I got new credit cards for each separate purchases as Honda let me put $3k down via credit card and Toyota let me put $4k via credit card. The credit card sign up bonuses (and referral bonus) on both combined are worth ~$5k.

 

[TheNinja]

Because people love to give sub par advice and have poor personal finance knowledge. I have loans on both my Honda and Toyota even though I could pay cash. Honda @ 0.9% 60 months and Toyota is 1.9% 48 months. I got new credit cards for each separate purchases as Honda let me put $3k down via credit card and Toyota let me put $4k via credit card. The credit card sign up bonuses (and referral bonus) on both combined are worth ~$5k.

Also it depends what you do with your money. If you just dump it in the bank and let it sit at basically no interest you are better off paying off your loan.
If you have half a brain you can use your money to make more than 1.9%

 

[Bornstarch]

If you say you're paying cash, they're gonna jack up the price

 

[MicroBrew]

If you have a Costco membership you can fill your tires with nitrogen whenever you want.

I do, but I don't bother. Costco does have the best price on Diesel, which I do sometimes take advantage of.

 

[nhbfan8080]

...............

Long story short the dealership tried to add 6k in BS accessories that was instantly removed the minute I threatened to leave. Then tried to stick me with a monthly car payment that made no sense when using a loan calculator.

I don't understand how anyone can work like this. Essentially just BSing people and trying to get as much money out of them as you can. The funny thing is I'm realizing now that the last time I bought another corolla in 2020 that they most likely artificially raised my monthly payment at that time to. At least that dealership didn't try to stick with me a bunch of BS accessories.

The most annoying shit to is the financing guy kept asking. Well what do you want your monthly payments to be what can you afford. I was like I can afford all of this, I can afford to double the car payments if I need to but I'm not just handing you guys free money. I want the lowest possible monthly payment I can get that's my goal.

I thought this was going to be a dealership going out of business thread. Its a bad time for dealerships because they are struggling with falling prices and being underwater with their financing. Not surprised that they are resorting to any means to tack on ridiculous fees.

 

[boingyman]

Also it depends what you do with your money. If you just dump it in the bank and let it sit at basically no interest you are better off paying off your loan.
If you have half a brain you can use your money to make more than 1.9%

Also lets be real. Most people don't have the money to buy a new car with all cash.

 

[suprah]

Bought my truck from a nissan dealership and road my bike to look at it. Told em Id come back the next day with the money and they said no we will put your bike in the back and you can take it now if you dont pay us well take it out of your paycheck. So because I worked at the nissan plant I got the truck at cost and left without even paying for it.
Brought the guys tie downs back the next day with the money. Bunch good ole boys there.

 

[Thai Domi]

I just traded in my Ranger that I've had for 15 years. When did they stop printing the prices on the stickers? You have to enter the digital realm to check the price of each vehicle now? That infuriates me to no end.

 

[method115]

Picked up the car yesterday and apparently the windows do come tinted from the factory. They also included a bunch of extra stuff that my last car didn't come with. Some cables for the usb-c ports and car cleaning package. Paint renewal stuff as well.

When I was about to leave the sales guy commented on how pissed the finance guy was at me and we started laughing about it. I basically just said it is what it is and he was like I get it. We shook hands and I left.

 

[Mike]

---

my truck from a nissan dealership and road bike to look at it. Told em Id come back the next day with the money and they said no we will put your bike in the back and you can take it now if you dont pay us well take it out of your paycheck. So because I worked at the nissan plant I got the truck at cost and left without even paying for it.
Brought the guys tie downs back the next day with the money. Bunch good ole boys there.