Why paying off or refinance can cover the 5k markup over MSRP? Sorry for my poor financial knowledge.
Dealer wanted 5k over msrp if he paid cash. Msrp if he financed using likely stupid interest rates.
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Why paying off or refinance can cover the 5k markup over MSRP? Sorry for my poor financial knowledge.
Wow. My doc fee was $59 and when I told the finance guy that CarMax used to charge $195 for it, he said that was ridiculous. More than three times that amount is insane.The contract price was MSRP plus $689.00 Doc Fee.
This is exactly what I did. I didn't care what the interest rate, term, payment etc was because as soon as the information I need to pay it off comes I'm going to do that.If you're going to pay cash. Just finance the darn thing and then pay it off. Sorry this happen to you. But there's always more than one way to skin a cat.
In California the doc fee is capped by law. Many states have no cap. On this forum one guy said in Florida it was $1200. In NY its capped at $175. NJ dealers are around $500 with no cap.Wow. My doc fee was $59 and when I told the finance guy that CarMax used to charge $195 for it, he said that was ridiculous. More than three times that amount is insane.
This is exactly what I did. I didn't care what the interest rate, term, payment etc was because as soon as the information I need to pay it off comes I'm going to do that.
Did the dealer route it to whoever will give them the most money? Of course they did. Do I care since I'm going to pay it off immediately? No.
This!! I sold cars for 8 years, and we used to tell people to keep the loan for 3 months "to give the title time to make it from the dealer to the dmv to the bank." In reality it was to let 90 days pass so the finance manager could keep his commission it.Why do you guys keep walking away from this? Have you not heard of refinancing?
Just sign the papers and take your truck. The dealership will see dollar signs - then you refinance it IMMEDIATELY upon receiving an account number. This will reverse any kickbacks to the dealer and there is nothing they can do about it. You will have your truck and they won't have made the money they were trying to con you out of. I've had this trick pulled on me more than one time before, and I have told them as I signed the papers that I would never make the first payment on this agreement. They've never cared, I guess they either assume that I'm bluffing (I wasn't) or they just want it to look a certain way on paper.
Yep. Anytime anyone has pulled this stuff with me, I have refinanced it as soon as I had the account number. The most egregious thing to ever happen to us was when we bought a 2015 Kia Optima Hybrid. It was advertised at $10,000 off MSRP. When we got to finance, the only way they'd honor that deal was with some ridiculous rate.. like 15%. And we have excellent credit. I was like OK, but I'll tell you right now I will never make the first payment on this. They didn't care. I signed, refinanced it in less than 1 month, and got the $10,000 off.This!! I sold cars for 8 years, and we used to tell people to keep the loan for 3 months "to give the title time to make it from the dealer to the dmv to the bank." In reality it was to let 90 days pass so the finance manager could keep his commission it.