(Update) Can a dealer only allow me finance or lease a Bronco?

[phantozf]

I would like to pay full at picking up but dealer told me they can only finance or lease it. Says it’s dealer policy. Is that something that a dealer can do?

Update: had a call with the VP of the dealership group. He confirmed this is true as Ford will fine them many money if Bronco is exported back to the US. financing or lease will add an extra layer of protection to the dealer to prevent the vehicle to be resold, even if that means additional cost to their customer. He admit that’s poor customer experience and I can choose not to buy it, but because the shortage of inventory, he can sell it to others easily.

Basically they are buying insurance at the cost of their customer. That’s the market now.

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[Phil]

They are totally screwing with you if they won't take your cash they probably have a deal with the banks to get you into a great 6% rate

 

[Dubsesd]

I guess they can do what they want. They are only doing that because they make money on the interest.

 

[mybikeisred]

Just tell them you'll finance it and put down a 100% down payment.

 

[Strebeld]

Finance and pay it off the next day... But they are saying it, as they make good money on the finance with the banks.

 

[scottfwalter]

If it’s a choice of you not getting a bronco unless you finance with them but I would finance with them. Then pay it off with the finance company in the first 30 days. Assuming that there’s no early payment penalty.

I believe if it’s paid off right away the dealer does not get the kickback from the finance company.

 

[Drex]

tell them you will finance with them if they knock off $750, then wait a week, pay off the loan. They will never see a dime of the juice commission and you get $750 (plus tax on it) for your aggravation.

 

[kodiakisland]

Are they allowed to do that? Probably. The vast majority don't care, although they do get an incentive to do in house financing. They only get a kickback on the inhouse financing if you keep it financed a certain number of months. If you have to, put as much down as they will let you, finance, and pay off the first month, thereby screwing them on their kickback.

 

[Headsong]

Yeah they're just trying to make a little profit. But all things considered with the interest rates as low as they are right now it's not a bad idea to borrow it all and stash your money someplace and earn more than you'll ever pay in interest back.

 

[Roger123]

Policy is not the law, they're bluffing to try and shake you down. Pay cash, F-them!

 

[okbob]

Don't do it, don't let them win.

 

[Razorbak86]

I would like to pay full at picking up but dealer told me they can only finance or lease it. Says it’s dealer policy. Is that something that a dealer can do?

Was this the stated reason?

 

[‘21OBX]

I get my own financing thru my CU always a better rate. The dealer this time did push harder than last time I purchased a truck from them. But I say no thanks and show up with a check for the full amount. If they really don’t want the sale I’ll walk. I’ve yet to have a dealer turn down a certified check in hand. I’ve always been straight with with my dealer on how I’m paying. But at the RV dealer I was explicitly told not to tell them I’m paying in full to I had a signed agreement.

 

[phantozf]

Was this the stated reason?

Thanks for the link. Dealer didn’t mention money laundry tho, but look like similar situation. Hmm… Money laundrying via a truck that may need to wait 2 years?

 

[DrewBronc21]

That’s BS but I still wouldn’t pay cash with 2% loans out there

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