Dumb dealer add ons....
09-01-2010, 11:12 AM
#51
Originally Posted by Anrosphynx,Aug 31 2010, 07:27 PM
I had a situation with my girlfriend years ago (now my wife), when she went to buy an Eclipse from a dealership. They had advertised a pretty cheap price on the car, and my gf had about 2k of the 10k asking price. She had her own financing in place, but the dealership insisted that they could beat her financing.
When we finally met with the financing guy, he kept trying to sell her the extended warranty for an extra 2k. She kept saying no, but he wouldn't let it go. In fact, he refused to finance her unless she purchased the extended warranty. She finally said that she would use her own financing, but this finance guy didn't want to accept her financing now. He claimed that the dealership did not cooperate with every finance company, and it had to be an approved finance company. (whatever that meant)
After listening to this go on for over 2 hours, i sensed her frustrations and decided to end it.. I finally told the finance guy.... "we aren't financing". I promptly wrote him a check for the balance and we left.... (good thing my girlfriend turned into my wife!
)
That was my last experience with finance. I pay cash for cars now.. not worth the hassle.
When we finally met with the financing guy, he kept trying to sell her the extended warranty for an extra 2k. She kept saying no, but he wouldn't let it go. In fact, he refused to finance her unless she purchased the extended warranty. She finally said that she would use her own financing, but this finance guy didn't want to accept her financing now. He claimed that the dealership did not cooperate with every finance company, and it had to be an approved finance company. (whatever that meant)
After listening to this go on for over 2 hours, i sensed her frustrations and decided to end it.. I finally told the finance guy.... "we aren't financing". I promptly wrote him a check for the balance and we left.... (good thing my girlfriend turned into my wife!
)That was my last experience with finance. I pay cash for cars now.. not worth the hassle.
It is nice not having to finance vehicle purchases. You just don't have to deal with any crap or providing personal information, etc. Once you pay cash for a car and drive it long enough while saving a monthly payment equivalent in a savings account, etc. you won't ever have to pay cash again for a car. It's a sleep good at night feeling.
09-01-2010, 11:50 AM
#52
Originally Posted by dombey,Aug 31 2010, 06:44 PM
(buying new 2003 toyota tacoma)
"any interest in an extended warranty?"
"No"
"Well nowadays the electronics can be really expensive to fix if they go out after your factory warranty expires"
"Are you saying the truck is going to break down?"
"No, but I'm just saying..."
"The whole reason I'm buying a toyota is because it is reliable, OK?"
"OK, sir"
"any interest in an extended warranty?"
"No"
"Well nowadays the electronics can be really expensive to fix if they go out after your factory warranty expires"
"Are you saying the truck is going to break down?"
"No, but I'm just saying..."
"The whole reason I'm buying a toyota is because it is reliable, OK?"
"OK, sir"
I love doing this kind of stuff when they try to sell me on the warranty. I was in the Apple Store the other day purchasing a Macbook for a friend. They tried to sell me Applecare and I said no. The salesboy was like, "Well, it's a really good deal. I have it on three of my Apple products and two broke down. I got to use the warranty and avoid the costly repair bill!"
"Are you saying they break 66% of the time?"
"I.. uh... It doesn't break like a Windows computer. It's not the OS, it's the hardware and..."
"What are you telling me? If it's made of the same nonsense other computers are, why am I here?"
Ridiculous. I couldn't have been the only one to call him out on something like that, could I? Not to mention I put myself through undergrad working IT
09-01-2010, 12:02 PM
#53
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one time when i purchased an acura i made a deal with salesman and we both agreed on a price so we moved on to financing. that douche bag in financing start adding all these extended warranty without explaining what it is and how much it cost and he just prints out all the paper work and ask me to sign at the bottom of the page. good thing i read carefully before signing and ask him about what the other costs are and his response? something like "well most of people who buys car here wants extended warranty so i assumed you want one too and i added it on." i said screw you and i started to walk out the door and salesman apologized and grabbed all the paper work to side and made sure i was happy. i hate shady dealers.
09-01-2010, 12:34 PM
#54
Originally Posted by QUIKAG,Sep 1 2010, 02:12 PM
It is nice not having to finance vehicle purchases. You just don't have to deal with any crap or providing personal information, etc. Once you pay cash for a car and drive it long enough while saving a monthly payment equivalent in a savings account, etc. you won't ever have to pay cash again for a car. It's a sleep good at night feeling.
I'm sure my opinion differs from most people, but I'm a firm believer that if you can't afford to pay cash for a car, you probably shouldn't be buying it (That's not to say there aren't some perfectly good reasons to finance.).
09-01-2010, 01:33 PM
#55
Originally Posted by 00CivicSi,Sep 1 2010, 08:34 PM
Yes it is...
I'm sure my opinion differs from most people, but I'm a firm believer that if you can't afford to pay cash for a car, you probably shouldn't be buying it (That's not to say there aren't some perfectly good reasons to finance.).
I'm sure my opinion differs from most people, but I'm a firm believer that if you can't afford to pay cash for a car, you probably shouldn't be buying it (That's not to say there aren't some perfectly good reasons to finance.).
09-01-2010, 01:43 PM
#56
Banned
Originally Posted by 00CivicSi,Sep 1 2010, 03:34 PM
I'm a firm believer that if you can't afford to pay cash for a car, you probably shouldn't be buying it
09-01-2010, 01:46 PM
#57
Originally Posted by st4rk,Sep 1 2010, 01:43 PM
BAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHAHAHAHAHAHAHAHA! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!
09-01-2010, 01:48 PM
#58
Former Moderator
Originally Posted by Bboy AJ,Sep 1 2010, 02:50 PM
I love doing this kind of stuff when they try to sell me on the warranty. I was in the Apple Store the other day purchasing a Macbook for a friend. They tried to sell me Applecare and I said no. The salesboy was like, "Well, it's a really good deal. I have it on three of my Apple products and two broke down. I got to use the warranty and avoid the costly repair bill!"
"Are you saying they break 66% of the time?"
"I.. uh... It doesn't break like a Windows computer. It's not the OS, it's the hardware and..."
"What are you telling me? If it's made of the same nonsense other computers are, why am I here?"
Ridiculous. I couldn't have been the only one to call him out on something like that, could I? Not to mention I put myself through undergrad working IT
That was awesome.
09-01-2010, 01:50 PM
#59
Banned
Originally Posted by QUIKAG,Sep 1 2010, 04:46 PM
Beyond a first or second car purchase out of school, you really shouldn't finance a car you couldn't otherwise buy in cash (depending on finance rate). Of course, $30k millionaire wannabe's will always laugh at that assertion.
And I agree, you also shouldn't finance houses, you should buy them with cash. I was merely laughing because I couldn't believe how much in agreement I was.
09-01-2010, 03:29 PM
#60
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Originally Posted by st4rk,Sep 1 2010, 01:43 PM
BAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHAHAHAHAHAHAHAHA! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!
Does it mean:
-don't have assets in excess of the car's price?
-don't have liquid assets in excess of the car's price?
-Don't have cash in excess of the car's price laying around collecting dust?
Once you settle on a definition, then you're faced with the question "even if I can technically come up with the cash, can I afford to?"
IE is it coming out of retirement, is it coming out of home equity, is it coming out of my groceries, or is it coming out of my rainy day fund?
There's really not a lot of difference between buying a house and a car nowadays, and I doubt most people would advocate only buying a house if you have cash. The only reasons that anyone EVER thought financing a house was a good idea was because of the booming real estate market....now that is gone, so I fail to see how the two are substantially different. If you have good credit, you can get much hotter financing on a new car (0%) than you can on a mortgage (even when tax adjusted).
There are lots of circumstances when financing makes perfect sense and the buyer can't come up with the cash.
I'll make one up: Husband/wife graduate from law school simultaneously. They spent all their spare cash on living expenses during school to avoid taking large loans. They drive 30 year old cars that are beginning to cost a small fortune to maintain, get horrendous gas mileage, and make the occupants smell like gas/exhaust every time they drive.
The couple starts their new jobs and are bringing home $150,000 a year before tax. They need to provide their own transportation to work and to court appearances, and don't want to smell like gas when they get there. They also need something reliable.
They can afford very nice cars, a house payment, and plenty of retirement savings with their cash flow...they just don't have a lot of cash saved up.
Who really thinks it isn't reasonable to go buy a couple of civics for $25k each, and finance them at low rates, since the couple doesn't have $50k laying around?