A Must Read (what a Rat!)

2097 Views 19 Replies 16 Participants Last post by ReefJones, Sep 11, 2007

ReefJones

Discussion Starter · Aug 17, 2007

So I am at the dealership buying my truck. After all is said and done I am sitting in the "financing managers" office signing the slew of paperwork that goes along with it. In conversation he makes the comment that he gets paid off how many warrantees he sells. Well it is now about 10:30-11:00pm the dealership is technically closed and he wants to go home (which is fine by me) so he doesn't waste his time on trying to get me to buy the extended warrantee just mentions it, I decline and that is it. I said that I would check on my own financing and he said ok. A couple of days later I told him to go ahead and do the financing. He leaves me a message stating that he can finance me a lower rate than quoted previously (per some special agreement he has with the bank) provided I pick up the extended warrantee. First of all the guy looks and acts just like a rat. Secondly... I didnt just fall off the turnip truck yesterday!

So I call him back ask what the name of the bank is and then I call them. Talk to a rep and confirm that they have no such program and they could care less what kind of warrantee I get. So I call Tim back call him on his lie and then he says, " Let me talk to my boss and see what he can do cause that is what the bank told me." (Yeah right!) So 5 mins later he calls back and states that his boss called the bank and negotiatied the lower rate without the warrantee (trying to save face). Basically... in a nutshell, Tim the "Finance Manager" at Power Nissan of Chandler is a Huge Doosh ! and I will never do buisness there again! I also just got my survey in the mail, they told me to fill it out nicely and they will give me a tank of gas or a carpet dash cover... You gotta be kidding me!?!?! Is that crazy or what? What a schmuck!
Reef

1 - 20 of 20 Posts

Carbeaux

· #2 · Aug 17, 2007

The worst thing about all of the dealers to me, and is part of your story is this:

They beg, bribe, whatever they have to do to get good surveys back. What crap.

Glad you called him on his lie though! Think of how many people he'll pull that on that WON'T catch him. Sad.

AF-Medic

· #3 · Aug 17, 2007

That guy is a douche nozzle(worse than a douche bag, cuz the nozzle goes in). Good thing you are on your toes or you might have gotten suckered into that one. I wonder how many folks they get?

Duner49

· #4 · Aug 17, 2007

Too bad about the experience but congrats on the beast. Check out the AZ titan meet and come hang out with gang. Great bunch of guys here in AZ.

Kronos1965

· #5 · Aug 17, 2007

Great job on the sleuthing. I had a similar experience and went to the dealership show room while I was waiting to hear the "good guy-bad guy routine".

The salesmen was trying to negotiate on behalf of the buyer and the evil mean manager wouldn't budge on the price.

So the salesperson throws in the warranty to make up the difference and the buy signs on the dotted line thanking him profusely for being on his side..

Makes me want to do this to both the buyer and the salesman...:boxing:

Treebasher

· #6 · Aug 17, 2007

ReefJones said:
So I am at the dealership buying my truck. After all is said and done I am sitting in the "financing managers" office signing the slew of paperwork that goes along with it. In conversation he makes the comment that he gets paid off how many warrantees he sells. Well it is now about 10:30-11:00pm the dealership is technically closed and he wants to go home (which is fine by me) so he doesn't waste his time on trying to get me to buy the extended warrantee just mentions it, I decline and that is it. I said that I would check on my own financing and he said ok. A couple of days later I told him to go ahead and do the financing. He leaves me a message stating that he can finance me a lower rate than quoted previously (per some special agreement he has with the bank) provided I pick up the extended warrantee. First of all the guy looks and acts just like a rat. Secondly... I didnt just fall off the turnip truck yesterday! So I call him back ask what the name of the bank is and then I call them. Talk to a rep and confirm that they have no such program and they could care less what kind of warrantee I get. So I call Tim back call him on his lie and then he says, " Let me talk to my boss and see what he can do cause that is what the bank told me." (Yeah right!) So 5 mins later he calls back and states that his boss called the bank and negotiatied the lower rate without the warrantee (trying to save face). Basically... in a nutshell, Tim the "Finance Manager" at Power Nissan of Chandler is a Huge Doosh ! and I will never do buisness there again! I also just got my survey in the mail, they told me to fill it out nicely and they will give me a tank of gas or a carpet dash cover... You gotta be kidding me!?!?! Is that crazy or what? What a schmuck!
Reef

Nice work. You played the game and won. Kind of slimy but you have to admit that was quite a good story he came up with to try and get you to buy the extended warranty.

ReefJones

Discussion Starter · #7 · Aug 17, 2007 (Edited)

I will say that one guy up there Rual was pretty coo' The Sales manager was also a dooshe. Other than the survey, I would complain, but I dont think it would do any good...

Duner49 said:
Too bad about the experience but congrats on the beast. Check out the AZ titan meet and come hang out with gang. Great bunch of guys here in AZ.

Thanks! Is there a thread for when er' body meets or how does that work?
Reef

kman

· #8 · Aug 17, 2007

good catch! With the vehicles that i have purchased over the years, most of the worst experiences i've had, have been dealing with the door knobs in finance. Bunch of pin heads.

2tall

· #9 · Aug 17, 2007

Just to add to this, I like how they will give you a quote for your interest rate, you basically tell them to shove it up their [email protected]@ and they simply go into their computer and change it to where you are at or even better because they will lose your sale when you say you can go elsewhere. I swear they make some cut from the rate with the bank as well. True story, it has happened to us before. The dealership changes finance guys but everyone knows us from past purchases.... They step out of the room, and then they come back in giving us the story of oh I am sorry let me see what we can do to keep your business.. and boom there they go changing it themselves. Doh'

Burgy

· #10 · Aug 18, 2007

When we bought the wifes Isuzu we got the same speech. Buy the warranty, lower the interest. When we did the math, it was a near even swap, so we said yes. 100K warranty on her Ascender. Not 1 issue yet at 45K.

rgregory1965

· #11 · Aug 18, 2007

I think the extended warraty is great to have...I have the extended to 75k bumper to bumper....its a peice of mind thing....Unless you just cant afford the extra few bucks a month.

TitanBlue

· #12 · Aug 18, 2007

Burgy said:
When we bought the wifes Isuzu we got the same speech. Buy the warranty, lower the interest. When we did the math, it was a near even swap, so we said yes. 100K warranty on her Ascender. Not 1 issue yet at 45K.

Still likely a lie by the dealer. Why would interest be lower when you buy a warranty? It doeesn't add equal value to a used vehicle if repossessed or reduce risk to the loan company at all. Just a gimmick.

My finance guy tried to make me feel stupid for not taking the policy, especially after I told him I manage a fleet of 35 vehicles! I know parts/labor cost and how to manage my risk, we don't insure our fleet, we maintain it!

Finance is a scummy place in the world of cars, just the last favorite transactgion for most of us. Even though we really like the rides!

ReefJones

Discussion Starter · #13 · Aug 18, 2007

rgregory1965 said:
I think the extended warraty is great to have...I have the extended to 75k bumper to bumper....its a peice of mind thing....Unless you just cant afford the extra few bucks a month.

It wasn't that I couldn't afford the extra few bucks a month or the $1200.00 in a lump sum, just that it would be stupid to buy it when I don't plan on having the truck past three years. I don't know anyone who would buy a five year warrantee for piece of mind if they weren't going to have the truck that long unless they just got it like that, which is just plain dumb, and most folk that "got it like that", didn't get it by giving it away. ...you aren't by any chance a "finance manager" at a dealership are you? :rofl:
Reef

Elias60

· #14 · Aug 20, 2007

ReefJones said:
It wasn't that I couldn't afford the extra few bucks a month or the $1200.00 in a lump sum, just that it would be stupid to buy it when I don't plan on having the truck past three years. I don't know anyone who would buy a five year warrantee for piece of mind if they weren't going to have the truck that long unless they just got it like that, which is just plain dumb, and most folk that "got it like that", didn't get it by giving it away. ...you aren't by any chance a "finance manager" at a dealership are you? :rofl:
Reef

I don't think its the 5 years so much as the mileage, I know people that keep their trucks three years, and put close to 90,000 miles on their vehicles. I know I use to be one of those people, I think its different for everyone. I agree with you though if someone keeps their vehicle three years and puts minimal miles on their vehicle it doesn't make much sense to buy the extended warranty.

hwyking

· #15 · Sep 5, 2007

those guys are pretty sneaky.

I was closing my deal after closing as well and the guy was actually really nice, soft spoken, etc. He came back with some financing numbers and said he could finance me at 12% and i was like wtf? My credit score is right around 800 so I knew that was bull. I said ok whatever just finance me and I'll refi this week at the credit union. he said oh wait l might have access to the credit union rates blah blah blah and left and came back and was now able to finance me at 5.75%. Much better! he got me on the warranty and GAP insurance though

I was scared by all the broken diff stories so I got the 7 year/100k mile warranty and the $580 GAP insurance which I could have gotten later at the credit union for $120 or so, lol. Lesson learned. I'll be smarter next time.

Art Vandalay

· #16 · Sep 7, 2007

You should've walked. :gunz:

albonismo

· #17 · Sep 7, 2007

unless you know the douschebag that works there, then inexperienced buyers should never tread alone. i don't know if they pull the same sh** anywhere outside of texas, but here they like to give you an incredible rebate off msrp (1,000-12,000) and then jack up the financing (which they dont tell you unless you ask) to make it the same price as if you were never going to take the rebate. no matter what you're always gonna pay the msrp, and if financing is involved, then more.

Duner49

· #18 · Sep 7, 2007

ReefJones said:
Thanks! Is there a thread for when er' body meets or how does that work?
Reef

http://www.titantalk.com/forums/south-western-forum/61341-az-titan-meet.html

This should get you started..

hoojs12840

· #19 · Sep 8, 2007

Dealerships do get a cut of the financing. In MD you can add 3% over the banks "buy" rate. To figure out the math take the total of the loan payments at say 9% then take the total at 6% that difference is what the dealership makes. Unless you sell it before you make all the payments, then thye get that amount or a prorated amount charged back to them. Depending on thier contract with the bank that could be 90days to 3yrs. Now what the dealership did was shaking at best, lying at worst. I don't agree with that tatic.

If they offer you one rate say 8%, you say nope,then offer you 6% to keep your contract, thats just like negotiating the price. I sold vehicles for 5yrs, and wouldn't pull those slimeball tricks, but I definatly didn't shy away from asking for the most, I mean the customers are asking for the least. If everyone stays civil and bargans in good faith, then eventually a deal can be made.

To put it in a short easy way; lets say your selling your truck and book is 20k, and you ask 24k and get it. Are you a crook? Nope, just a better negotiator.

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ReefJones

Discussion Starter · #20 · Sep 11, 2007

hoojs12840 said:
To put it in a short easy way; lets say your selling your truck and book is 20k, and you ask 24k and get it. Are you a crook? Nope, just a better negotiator.

This is true, but there is a difference between wheel'n and deal'n and straight up lying to sell a warranty.
Reef

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