A personal check for a new car purchase?
07-29-22, 07:55 PM
#61
Lexus Fanatic
07-30-22, 06:26 AM
#62
07-30-22, 06:32 AM
#63
Quick update to get this back on track. We found another RAV4, they take checks, but stated it needs to be a Bank certified check.
One thing I did notice in this recent search is that some dealers list a price for the vehicle, but in the detail state that you must finance through the dealer or pay a markup of xxx dollars. I did see this in one online listing, saying 3rd party financing or checks will pay a $2k markup.
I hate dealers 👎. Oh well, I won’t be shopping for a while after this. Hopefully……..
One thing I did notice in this recent search is that some dealers list a price for the vehicle, but in the detail state that you must finance through the dealer or pay a markup of xxx dollars. I did see this in one online listing, saying 3rd party financing or checks will pay a $2k markup.
I hate dealers 👎. Oh well, I won’t be shopping for a while after this. Hopefully……..
07-30-22, 06:47 AM
#64
Lexus Fanatic
07-30-22, 07:09 AM
#65
Lead Lap
I refuse to buy any vehicle during this crazy time unless I absolutely had to for the reasons the OP needs one or one of my current cars is totaled. Thankfully I got two new cars a year ago before all of this craziness. I used to not mind dealers but the more I read about experiences here it makes me start to dislike them more and more.
07-30-22, 08:04 AM
#66
Lexus Fanatic
Like he said, they can't force anybody to finance, its illegal. We do have consumer protections in this country. So yes, telling him he had to finance in order to buy was a lie.
07-30-22, 08:54 AM
#67
Lexus Test Driver
I refuse to buy any vehicle during this crazy time unless I absolutely had to for the reasons the OP needs one or one of my current cars is totaled. Thankfully I got two new cars a year ago before all of this craziness. I used to not mind dealers but the more I read about experiences here it makes me start to dislike them more and more.
I'll hold on to my old RX330 until I see where things are going.
However, I'm not optimistic since today we have an engineered chip shortage by design IMO and next year it will be something else. lol
Car prices will not come down and this is the new normal is what I'm saying, just my theory from what I'm seeing at this point unless something changes.
Anyone else notice this?
It's a dog eat dog world ot there and knowledge seems to be the only way to defend oneself!
07-30-22, 10:40 AM
#68
I've never had issue with personal checks but maybe because I either finance or lease so technically it's not my car.
Unless they have it written out in their business... otherwise they can't just change the way to do to make more money. I remember this one finance manager telling me he won't be able to let me go with my bank for lower rate. I asked him why? He said, "it's our policy." I asked him if they had it written somewhere. "No, it's not written. It's a verbal policy." Lol. I told him to check with his finance director and let me know. He later called back, "we'll match whatever rate your bank gives you." Lol
Unless they have it written out in their business... otherwise they can't just change the way to do to make more money. I remember this one finance manager telling me he won't be able to let me go with my bank for lower rate. I asked him why? He said, "it's our policy." I asked him if they had it written somewhere. "No, it's not written. It's a verbal policy." Lol. I told him to check with his finance director and let me know. He later called back, "we'll match whatever rate your bank gives you." Lol
07-30-22, 02:21 PM
#69
Lexus Fanatic
iTrader: (20)
can you state what law would be broken?
here's 2 articles saying they can.
https://getjerry.com/questions/can-a...side-financing
https://getjerry.com/questions/can-a...r-through-them
excerpt:
here's 2 articles saying they can.
https://getjerry.com/questions/can-a...side-financing
https://getjerry.com/questions/can-a...r-through-them
excerpt:
Dealerships can refuse any type of financing for any reason. It’s not immoral or unethical; it’s just business.
That said, car dealers usually refuse outside financing if they’ve lowered the price enough. To make up for this discount, they want you to finance with them to recoup that money. It’s a simple break-even policy from their standpoint.
You can always walk away from the deal if it doesn’t feel right...
That said, car dealers usually refuse outside financing if they’ve lowered the price enough. To make up for this discount, they want you to finance with them to recoup that money. It’s a simple break-even policy from their standpoint.
You can always walk away from the deal if it doesn’t feel right...
07-30-22, 02:25 PM
#70
Lexus Fanatic
iTrader: (20)
and texas video saying there's complaints about forced dealer financing and the state's looking into it.
07-31-22, 07:07 AM
#71
Lexus Fanatic
‘There was no deal to buy the car. So the dealer didn’t force anyone. Don’t you make a deal to buy a car first? Then…explore payment
07-31-22, 07:14 AM
#72
Lexus Fanatic
can you state what law would be broken?
here's 2 articles saying they can.
https://getjerry.com/questions/can-a...side-financing
https://getjerry.com/questions/can-a...r-through-them
excerpt:
here's 2 articles saying they can.
https://getjerry.com/questions/can-a...side-financing
https://getjerry.com/questions/can-a...r-through-them
excerpt:
Originally Posted by mbarron37
In MA, they have to take checks (per MA Attorney Generals office). I filed a formal complaint today. Probably won’t go anywhere, but makes me feel better 😎
07-31-22, 07:14 AM
#73
Lexus Test Driver
^^ Good video from Bit, enjoyed it.
Can't believe they're getting away with it.
Listen to how dumb I was.
When I was young I bought a car at the dealer and when it came time to sign the financing paperwork, the man said I didn't have perfect credit and I would have a "better chance" to get the loan if I would approve the "bumper to bumper warranty" and "gap insurance".
And I quote/paraphrase, "bank would look more favorably on a "less risky loan" and a "protected asset".
Like an idiot, I fell for it hook, line, and sinker. haha
In my defense, I only fell for it once tho but feeling like an idiot lasted longer than the loan and everytime I stroked the monthly payment!
Can't believe they're getting away with it.
Listen to how dumb I was.
When I was young I bought a car at the dealer and when it came time to sign the financing paperwork, the man said I didn't have perfect credit and I would have a "better chance" to get the loan if I would approve the "bumper to bumper warranty" and "gap insurance".
And I quote/paraphrase, "bank would look more favorably on a "less risky loan" and a "protected asset".
Like an idiot, I fell for it hook, line, and sinker. haha
In my defense, I only fell for it once tho but feeling like an idiot lasted longer than the loan and everytime I stroked the monthly payment!
Last edited by Margate330; 07-31-22 at 07:19 AM.
07-31-22, 07:26 AM
#74
Dealers are trying to get away with anything they can. Most consumers don’t know any better. A dealer cannot force anything that would be concluded as unfair and deceptive practices. They will try though!!
07-31-22, 07:32 AM
#75
Lexus Fanatic
It depends on the state. He called his state AG's office and they told him that in his state, it was illegal. That doesn't mean it is illegal everywhere.
He had a deal in front of him to buy the car then he was in the finance office where they told him he would have to finance it, that he could not pay cash. It doesn't work that way, you sign all your paperwork at one time in the finance office. There aren't two agreements.
He had a deal in front of him to buy the car then he was in the finance office where they told him he would have to finance it, that he could not pay cash. It doesn't work that way, you sign all your paperwork at one time in the finance office. There aren't two agreements.
Last edited by Toys4RJill; 07-31-22 at 07:43 AM.