Cory
San Antonio,#2Consumer Suggestion
Sun, July 02, 2006
Last truck I bought from ford, to get the extra $1000 rebate, I had to finance through ford at 7.75%. No big deal. 20 days later I get my first payment coupon. Called usaa and refinanced through them, at 3.9%, plus "free" GAP ins. plus didn't have to make a payment for another 60 days. Just because you use their bank, to get all the "specials", doesn't mean you have to stay with that bank. This is just another way the car dealers rip prople off. They sell you the car at one interest rate and then they sell your paper off at a cheaper rate. You're posting like this is a whole new thing. It's been going on for years and informed people already know about it. You're to be commended for bringing it up though. Two ways to fight it are: one, refinance after you buy the vehicle. If you cut a really good deal, the car dealer will figure he'll make it up on the interest rate and two, cut the deal, get into finance and whip out a check from your bank or credit union. Few years back, bought a truck from mccombs. Had been looking for the truck for 1.5 years. Drove by and saw a $9000 off tag on the truck. It was a mistake, they put those tags on the stripped models. Spotted it right away. Talked to a car salesmen Fri. morn. who quoted me the price in writting. Went by Fri. night, quoted me the same price, again in writting. Same thing Sat. morn. Went by Sat. afternoon to buy the truck. They ran down and pulled the tag off. Told them too bad. Your salesmen had already quoted me the price, in writting, several times. Got into a yelling match in the showroom. They finally agreed to sell me the truck, in finance, AT 17%. Whipped out a credit union check, AT 2.9%. They had a cow. Drove the truck for two years and sold it for what I had payed for it. Do some research BEFORE you go to a car dealer. Find out what vehicles are selling for. It's just as important to find out WHAT MONEY IS SELLING FOR. The price of the vehicle is only half the deal.