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My Dealer Set Me Up

UncleBuck

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Well on your next go-round, call your credit union first and have your own pre-approval in hand before you sit down with the dealer to finalize sale. Sorry you got screwed.
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Tech Tim

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My credit score is 850 and I have 0 debt outside my mortgage. On top of that I am bringing 22K in cash. I'm essentially a car dealers wet dream.
A dealer's wet dream is just enough cash to cover the minimum down and for them to finance you for as much $$$ they can get out of you.
 

Shawn of the Dead

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A dealer's wet dream is just enough cash to cover the minimum down and for them to finance you for as much $$$ they can get out of you.
I can't argue this at all LOL. I guess I look good to a lender at least :giggle:

I am in a somewhat (hopefully) good position as I have done lots of business with these guys in the past. I have an acquaintance that is the sales manager and used the be the finance manager.

I also know what my credit union will do for me so if they try to throw a stupid rate at me I can ask them to try there and know ahead of time if they are jacking me around. If I really like the way the truck looks (a foregone conclusion most likely) I will pay the price increase, finance myself and probably up my down payment as well.
 

G-Waggin

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Still wondering how much you were hoping to put down, since it gives more context to the rate they offered.

Am I understanding correctly that you wanted to put down less than $4K? Thanks
 

G-Waggin

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I don't know, man. Maybe you left for vacation and abandoned this thread, but you don't seem to want to answer how much you planned to put down.

Having less than $4K (which you've implied) and trying to purchase a $66K vehicle (before dealer and registration fees, taxes, warranty, etc.) without lining up any financing before your pick up day....

Just seems like you might be pointing your finger in the wrong direction in this instance.
 
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KnappyRedd

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Still wondering how much you were hoping to put down, since it gives more context to the rate they offered.

Am I understanding correctly that you wanted to put down less than $4K? Thanks
Im actually renovating my house so Ive been busy. Going in, I was under the impression that we can use our price protection how we wanted, I.E. down payment or come down on any trade in that had a balance. I was told that it comes off the MSRP only. Now the $4k down is what they told me Ford Finance said I had to put down with the approval with a 10% rate. I was willing to put down $2k, but thats before they told me 10%. And im pointing the finger in the right direction based on the evidence that proves it. You must've missed the part where they requested $87k? Not $66k plus tax and license which is another $5k or so in my area. They sold it with a $12k markup after I walked away. So they knew what they were doing. Ive bought plenty of cars with more money, no money and less money down and my rate was still.my rate based on my credit, not how much I put down. It still doesn't justify the BS they pulled to get me to refuse. We all already know and have agreed that maybe I should've went in with finance in place, but when you've done business with them before, your not expecting to be shafted. It is what it is. I'll order another one somewhere else better prepared having financing ready. Ive never had to do that before, but times are different.
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