F that car dealer!

GOTSVT?

This Is Absolution
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Finally found the Hellcat Durango after a long searchI Wanted a toy to beat on for the winter.
Called the dealer for bottom line and paperwork, they WILL NOT sell it to me unless
I finance with them. Wouldn't even open negotiations.
Interesting way to run your dealership, won't get me as a customer!
 

Zemedici

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Finally found the Hellcat Durango after a long searchI Wanted a toy to beat on for the winter.
Called the dealer for bottom line and paperwork, they WILL NOT sell it to me unless
I finance with them. Wouldn't even open negotiations.
Interesting way to run your dealership, won't get me as a customer!

Did they charge ADM ?

If not, they absolutely could have.

Dealerships gotta make money somehow...
 

GOTSVT?

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$10k ADM, which I can live with.
They told me I had to make 6 payments before paying off.
 

13COBRA

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$10k ADM, which I can live with.
They told me I had to make 6 payments before paying off.

They told you that so they don't get charged back from the lender. If you keep the loan for 6 months, they keep their money that the lender gives them.

What you should do, is say ok. Buy it. Call the lender within 30 days, explain to them that the dealer was being unethical and that you would like to pay off your vehicle.
 

DSG2003Mach1

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$10k ADM, which I can live with.
They told me I had to make 6 payments before paying off.

edit: treed by the expert

I highly doubt that's enforceable but you'd have to see the paperwork I guess. I've had other dealers make it sound like you had to make at least 3 payments before refinancing but I've never seen a mechanism to try and enforce it.
 

Zemedici

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They told you that so they don't get charged back from the lender. If you keep the loan for 6 months, they keep their money that the lender gives them.

What you should do, is say ok. Buy it. Call the lender within 30 days, explain to them that the dealer was being unethical and that you would like to pay off your vehicle.

bam there you have it @OP
 

Deceptive

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The only problem with refinancing if you want a specific lender is once that vehicle is purchased and a lender funded it then it becomes used and higher rates.


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CobraBob

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Personally, I'd walk away from this dealership. And then I'd continue to search for a Hellcat Durango and a dealer I actually would want to deal with. Do you really want to have to potentially deal with an "unethical" dealer after the sale? You want to find it. Buy it. Enjoy it. JMO.
 

13COBRA

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The only problem with refinancing if you want a specific lender is once that vehicle is purchased and a lender funded it then it becomes used and higher rates.


Sent from my iPhone using svtperformance.com
Not accurate. Current model year will still be new.

Sent from my Potato
 

Deceptive

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Not accurate. Current model year will still be new.

Sent from my Potato

I thought once it was titled and initially financed it could not be refinanced as a new vehicle. Maybe state laws differ?


I think CoVid Derangement Syndrome is the new Trump Derangement Syndrome.
 

13COBRA

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I thought once it was titled and initially financed it could not be refinanced as a new vehicle. Maybe state laws differ?


I think CoVid Derangement Syndrome is the new Trump Derangement Syndrome.
Nope. Current model year is still considered new in every state. Most credit unions consider the last two model years as New rates.

Sent from my Potato
 

7998

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Buy it if it's what you want. The next day get a loan from your CU to pay off the dealer loan and wait for the boo-hooing and tear filled voicemails from the dealer. How bad is their rate? Maybe it's a good rate.
 

Deceptive

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Nope. Current model year is still considered new in every state. Most credit unions consider the last two model years as New rates.

Sent from my Potato

I know somebody that had a bank screw them then. Or maybe it was a nice way to tell them they didn’t want to service their loan. Lol

Thank you for the education.


I think CoVid Derangement Syndrome is the new Trump Derangement Syndrome.
 

SVTXTC

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There isn't a pre-payment penalty on auto loans. Just finance with whomever they use, refi or pay it off within 30 days.
Several auto loan lenders have pre-payment penalties like USBANK. It’s easy to pay it off within 30 days. But depending on the lender and when a dealer has the deal funded this process isn’t always as easy when it comes to re-financing especially when it’s a new car out of state with a new MSO that needs to be registered and titled new and refinanced without avoiding fees.
 
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