DAMN!!!!!!!! DEALER MAKING ME RE-SIGN CONTRACT!
04-14-2005, 08:07 AM
#21
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actually depending on how long the financing is your difference in price is anywhere between 140-200 dollars. That .4% is an apr so it is added annualy to the remaining balance of the loan. If its a 60 mo loan for 17000 your differance in interest paid is roughly 200 dollars tell them to at least make that up to you cuz 100 bones isn't gonna cut it.
04-14-2005, 10:08 AM
#22
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Play your own tactic and try to fuss at any changes in your payment plan, try to make the dealer eat the differnce, I know there is no neg on price, but i'm sure the dealer might give at that point not to lose a sale, and to have a car with miles come back to them.
04-14-2005, 10:24 AM
#23
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Also view your contract, if there is no part that says they have time to review than the deal is final because that almost happened to me but they were gonna raise mine by about 2.5% but since the contract was final they had to maintain the original rates. Always read your contract because sometimes they miss something and it can work out to your favor or theirs.
04-14-2005, 11:39 AM
#24
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Re: DAMN!!!!!!!! DEALER MAKING ME RE-SIGN CONTRACT!
Originally Posted by Harman
Originally Posted by tC_kevin
Elmore toyota just called me and they are making me come over and re-sign the contract to raise my interest rate!!! I got approved for 5.40% and they said they are gonna raise it to 5.80%! this is BULL____! He said he will make it up to me by giving me a $100 scion gift cirtificate to use on parts. should i go and re-sign it?? If i dont, can they do anything about it?
im ____ed!
im ____ed!
Let say you're currently financing $17,000 @5.4% Now, they want to raise .4% to 5.8% and they'll give you $100 gift certificate.
Therefore, .4% * $17000 = $68 compare with $100 gift.
You just make = $32
So, why not plug it in and see if you make any money?
17000 over 5 years at 5.4% is: 323.94/month
17000 over 5 years at 5.8% is: 327.08/month
difference of 3.14/month * 60 months = $188.60
So you'd have to ask for a 188.61$ GC for this to be worth your while.
04-14-2005, 12:41 PM
#25
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well said, check my above post thats what i said!A minimum 0f that would have to be given to satisfy and thats at 17000, add in tax tag title, accessories, whatever the total amount is is prolly around 200 bones maybe more
04-14-2005, 03:57 PM
#26
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www.lendingtree.com
walked into the dealership with not only a quote but a check that was mailed to me, all had to do was sign it and hand it to the dealer. what a shock, they "found" a lower rate through a local bank. they can only offer you a lower rate than the scion rate if you have a quote for something lower. so take 15min filling out the stuff on lending tree, see if you get a lower quote from someone else, then march back into the dealer and tell him you're using your own lender. you'll either a) get the original rate or b) get a better rate than you walked in with. at the very least you can just opt to go with someone else (I think our loan offer was from eloan, but I'm not positive).
it's not very well conveyed that dealers can't offer you a better loan than what the "scion rate" is, unless you come in with something better (specifically, you must have an offer for a loan in hand for them to deal).
knowledge is power.
walked into the dealership with not only a quote but a check that was mailed to me, all had to do was sign it and hand it to the dealer. what a shock, they "found" a lower rate through a local bank. they can only offer you a lower rate than the scion rate if you have a quote for something lower. so take 15min filling out the stuff on lending tree, see if you get a lower quote from someone else, then march back into the dealer and tell him you're using your own lender. you'll either a) get the original rate or b) get a better rate than you walked in with. at the very least you can just opt to go with someone else (I think our loan offer was from eloan, but I'm not positive).
it's not very well conveyed that dealers can't offer you a better loan than what the "scion rate" is, unless you come in with something better (specifically, you must have an offer for a loan in hand for them to deal).
knowledge is power.
04-14-2005, 10:24 PM
#27
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Shane is right, my bad. 
Dante, I did the samething and brought with me a blank capitalone check. In the end, TFS has the lowest rate and I, therefore, went with it. At least I know I was not scammed.
Dante, I did the samething and brought with me a blank capitalone check. In the end, TFS has the lowest rate and I, therefore, went with it. At least I know I was not scammed.
04-15-2005, 01:41 PM
#28
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Originally Posted by Harman
Shane is right, my bad.
Dante, I did the samething and brought with me a blank capitalone check. In the end, TFS has the lowest rate and I, therefore, went with it. At least I know I was not scammed.
Dante, I did the samething and brought with me a blank capitalone check. In the end, TFS has the lowest rate and I, therefore, went with it. At least I know I was not scammed.
04-15-2005, 03:52 PM
#30
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Originally Posted by MidLifeScionCrisis
All this talk of 0.4% and how much it costs???? Just pay CASH for it and be done with !!!
(j/k!!)
04-15-2005, 05:42 PM
#32
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Originally Posted by MidLifeScionCrisis
Dante I hate to point out the obvoius but that was ZERO point 4 percent NOT 4 percent (less than half a percent) that they were discussing. So then unless you can pay CASH then it is the Lender that sets the rates and you have to pay the "piper" so to speak unless you can find a better deal somewhere else. I think I did have a 15.9 percent car loan in 1981 as I remember right (but since I am sooooo old the memory might be going but at the time 15.9 was a good deal for a car loan) so really you "youngsters" don't really have a clue how good you guys have it when it comes to rates for loans!!!
And to quote Michael Jackson Dante what you said "thats just ignorant"
And to quote Michael Jackson Dante what you said "thats just ignorant"
(and in case you missed the j/k, I"M JUST KIDDING!! not everybody can afford to walk into a dealership and pay cash, so loan rates are pretty important. sheesh.)
04-15-2005, 05:51 PM
#33
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Originally Posted by dante
Originally Posted by MidLifeScionCrisis
Dante I hate to point out the obvoius but that was ZERO point 4 percent NOT 4 percent (less than half a percent) that they were discussing. So then unless you can pay CASH then it is the Lender that sets the rates and you have to pay the "piper" so to speak unless you can find a better deal somewhere else. I think I did have a 15.9 percent car loan in 1981 as I remember right (but since I am sooooo old the memory might be going but at the time 15.9 was a good deal for a car loan) so really you "youngsters" don't really have a clue how good you guys have it when it comes to rates for loans!!!
And to quote Michael Jackson Dante what you said "thats just ignorant"
And to quote Michael Jackson Dante what you said "thats just ignorant"
(and in case you missed the j/k, I"M JUST KIDDING!! not everybody can afford to walk into a dealership and pay cash, so loan rates are pretty important. sheesh.)
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