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Posted on 10/27/14 at 11:44 pm to lurk9000
(no message)
This post was edited on 2/19/15 at 1:15 pm
Posted on 10/27/14 at 11:47 pm to lurk9000
They don't owe you any rate. Base on the offer they presented you, they would lower the rate offered if you purchased the extended warranty. You took the deal.
If you didn't want the warranty tell them the rate is not acceptable... See what they come back with, maybe go to 60 months to lower the APR? Or shop around elsewhere. No different than the homedepot coupon I got in the mail today that says 10%off or 24 months 0% financing IMO.
If you didn't want the warranty tell them the rate is not acceptable... See what they come back with, maybe go to 60 months to lower the APR? Or shop around elsewhere. No different than the homedepot coupon I got in the mail today that says 10%off or 24 months 0% financing IMO.
Posted on 10/27/14 at 11:48 pm to lurk9000
Exactly how did he lie to you? Had you not bought the extended warranty he wouldn't have wasted the coupons on your purchase. I guess since you're so honest you will be notifying the dealership of your intention of canceling the warranty and giving them an opportunity to raise your rate? An honest person like yourself wouldn't buy the warranty then cancel once they received a cheaper rate.
Posted on 10/27/14 at 11:54 pm to lurk9000
quote:
it was implied that it was required After further review of the contract, it is NOT required - looks like a lot of these folks don't mind being lied to
You don't get it still. If you didn't want the rate and thought the deal wasn't fair, why did you take it?
And, personally, I don't think you find a 79 month loan on a USED car at 3.29% anywhere. So, while it may not be required there's no way they give you that rate if you don't give them more $$ for the warranty.
Posted on 10/27/14 at 11:57 pm to TorNation
Sales contract does not mention the requirement of a warranty- however I was lied to and told that it was required-the dude was a snake and I failed to realize it- but if I can save one person from the same trap, I'll have succeeded
Posted on 10/28/14 at 12:00 am to lurk9000
(no message)
This post was edited on 2/19/15 at 1:15 pm
Posted on 10/28/14 at 12:04 am to lurk9000
Basically the dealer wasn't making any money on the financing, so in order to secure it for you (a service they offer, but you aren't required to accept) they wanted to make money on the warranty.
It's a win, win for an uneducated buyer like you.
But of course you're too stupid to understand, just like when you signed the legal documents.
The GM will explain it, and you still won't get it then smear their name all over town because you're dim witted.
Carry on.
It's a win, win for an uneducated buyer like you.
But of course you're too stupid to understand, just like when you signed the legal documents.
The GM will explain it, and you still won't get it then smear their name all over town because you're dim witted.
Carry on.
Posted on 10/28/14 at 12:08 am to KosmoCramer
quote:
KosmoCramer
^^^^^^
Yo I found the dude who sold you that warranty.
Posted on 10/28/14 at 12:15 am to DeathValley85
Why should the dealer take a loss on a service they provide?
They were being upfront with him.
He can get his own financing if he wants to.
They got him a good rate for a long term loan like that, it's not like they took him out back and fricked him in the arse.
They were being upfront with him.
He can get his own financing if he wants to.
They got him a good rate for a long term loan like that, it's not like they took him out back and fricked him in the arse.
Posted on 10/28/14 at 12:57 am to lurk9000
You should've got your own financing at a Credit Union. You got royally F'ed at almost 4% APR with a 750 beacon. The finance manager put you together and sold you a worthless warranty and you believed his bullshite lies about the rate changing to 5%. Don't ever get Auto dealership financing under any circumstance, especially since you work hard to maintain stellar credit. I guess lesson learned the hard way for you.
Posted on 10/28/14 at 1:09 am to RedRifle
quote:
Really? Who buys a Chevy Traverse?
I'd think about keeping that warranty.
Posted on 10/28/14 at 2:10 am to lurk9000
quote:
I'd post the dealership, but I'm not sure if I can do that without getting banned
I'd be willing to put money on one of the all star dealerships...there are too many to point out specifically but I bet it was one of them!
Posted on 10/28/14 at 5:17 am to Breauxsif
quote:
You should've got your own financing at a Credit Union. You got royally F'ed at almost 4% APR with a 750 beacon. The finance manager put you together and sold you a worthless warranty and you believed his bullshite lies about the rate changing to 5%. Don't ever get Auto dealership financing under any circumstance, especially since you work hard to maintain stellar credit. I guess lesson learned the hard way for you.
This^^
Get prequalified before you walk in the dealership. When the finance officer tries to pull this crap simply walk out and go to another dealership.
This post was edited on 10/28/14 at 5:19 am
Posted on 10/28/14 at 5:28 am to lurk9000
quote:
Sales contract does not mention the requirement of a warranty- however I was lied to and told that it was required-the dude was a snake and I failed to realize it- but if I can save one person from the same trap, I'll have succeeded
It's not a trap. Many manufactures offer better finance rates in lieu of rebates. That's basically the exact same thing as this supposed "scam." It doesn't show up in any paperwork that you have to forfeit the rebate to get the rate, but you still do. Just like your situation. It's up to you to decide f you want to accept that or not, and you clearly have accepted it.
Is this your first time buying a vehicle?
Posted on 10/28/14 at 5:30 am to lurk9000
Never do financing with a dealership.
Posted on 10/28/14 at 5:31 am to Breauxsif
quote:
Don't ever get Auto dealership financing under any circumstance, especially since you work hard to maintain stellar credit. I guess lesson learned the hard way for you.
This is not good advice. Ford Moror Credit was offering an extra $2000 rebate to finance with them on my most recent purchase. It would have been stupid not to. I had it refinanced at a credit union the next day at a much better rate. Win/win for me.
This post was edited on 10/28/14 at 5:33 am
Posted on 10/28/14 at 5:46 am to lurk9000
What's the name of the dealership? Hell, if they are that unscrupulous then they deserve the bad press...
Posted on 10/28/14 at 5:48 am to lurk9000
was it Brian Harris? Those guys are sleazy sharks.
Posted on 10/28/14 at 6:07 am to lurk9000
I can't believe a bank was dumb enough to make a 79 month loan on a used traverse
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