Financing Issue(s) getting financed?

[paulfun9]

paulfun9....I don't know your age, but I am 76, and have bought cars/tractors/furniture with only cash for many years.
I have walked away several times also. Had a dealer call me next day once, and say OK to the deal we had discussed, my response: Sorry, I bought from a different dealer already.

I charge all other expenses on my 3 credit cards:

A Visa that gives me 5% back on gas, groceries, drugs ($400 yearly max cash back)
A VISA that gives me $2% back on everything (card costs $59 per year) with no cash back limit.
A M/C that gives me 3% at Office Depot, Lowe's, Home Depot, & hardware stores.

I charge EVERYTHING that I can!
From these 3 cards I get more that $1,000 back each year.
I love 'em !!!
Of course I pay the balance due every month.

You need to go back and read my last post to understand my position on different purchases. I do use credit cards when they can benefit me but simply don't normally shop most of those places. I even pay some bills with them as I would be writing a check out every month for the same amount anyway. Also it saves on the cost of checks and for some, like my last bank who wanted to charge you for a statement each month you get a record of your exact spending along with the card bill.

 

[Steppenwolfe]

The very first Kubota I bought was in 1986, December to be exact. It was an L2650, I think, 4wd, with fel and backhoe. So, I was outside looking at it and up walks the dealer, " How much?" I asked, and off he goes back inside. A minute later he comes out and says $19,500. I thought for a second and said " How much if I buy it today? " Off he goes back inside and comes back out and says, $17,500. I said, " OK, how much if I buy it NOW, this minute, cash?" Again, he runs back in, runs back out and says $14,000. I said " Sold...." Cash will always be King...

 

[ultrarunner]

^^^I will try this on my next purchase...

The last Kubota purchase was the L3800...

I have since looked at the RTV but ended up not buying... Dealer had none to show and the ones that just came in were all sold... said simply didn't have any for immediate delivery and did not know when they would.

 

[Steppenwolfe]

^^^I will try this on my next purchase...

The last Kubota purchase was the L3800...

I have since looked at the RTV but ended up not buying... Dealer had none to show and the ones that just came in were all sold... said simply didn't have any for immediate delivery and did not know when they would.

When I bought my mini ex it was the same story, no one could keep one on the lot. I would call to check availability and get, " Well, we have it sold." I decided to visit a local dealer who I really didn't like working with and found he had 3 sitting on the lot, various sizes. It was the week of Thanksgiving, and I used the same method as above. Told him I only wanted one price from him, and that I would write a check that minute if it was the right price. I even had my wife take the check book out of her purse so he could see it as he calculated the amount... Closed the deal in five minutes.

 

[ultrarunner]

An informed buyer ready to commit on in stock inventory is a lot of incentive to not screw up the sale..

Tire kickers come and go.

I still remember the sales manager and this one guy that came in every Saturday and left after an hour and half... for months...

One Saturday the guys said they were going to see if he was all talk... they told him today only by 5 pm they could sell the car 30% off... but it had to be today... they guy said he was going home to get his wife and checkbook... never did show...

Monday, he comes in with his check book and the car was gone... don't know if they really would have delivered but said they would.

We always appreciated a buyer that had a go and no go price... it reduced time wasted and really was reduced to a simple yes or no.

By the way that customer called other Dealers to see if they had a 30% off special... because one called to see what was going on and this was before the Internet...

 

[LD1]

We always appreciated a buyer that had a go and no go price... it reduced time wasted and really was reduced to a simple yes or no.

I have been to a few dealers that DONT appreciate that.

This was back in 2006 or 2007, before we were debt free, and we were buying a truck for the wife. The truck was a 2005 Ram 1500 quad cab with the off-road package. Sharp truck and ~50k miles on it.

They had it on the lot for 22900. And we were pre-approved through our bank at 5.99%.

Since we were gonna finance, the selling price of the vehicle was really an irrelevant number to me. Only thing that mattered was how much am I paying per month, and for how long. Because that is my "real" cost of the truck. And that gives them a little more wiggle room and incentive to get us a good interest rate as well.

After we test drove, my request was simple. Put me in that truck for $400/month for 60 months and we will drive it off the lot now. I told them its yes or no, and do not come back with different numbers. Either you can do the deal, or you cant.

The "salesman" was a friend of mine, but at this dealer, they dont handle finances. The salesman answers any questions, arranges test drives, etc. But once negotiations start, it gets turned over to their finance dept.

Well, we were sitting at the desk and finance guy comes out. He says "great news", and shows me a paper. Says we can put you in that truck for $376 per month for 72 months. I said "dont you listen. I told you $400/60months, I have no interest in financing 72 months. HE said "oh" give me just a second. Came back and said $409 for 60 months is the best we can do. I said ok and got up and me and the were walking out the door.

I herd him ask as we were walking away "are you really gonna walk out over $9 a month?" I turned around and said "I dont like games. Are you really willing to loose a sale over $9 a month?" and we kept walking.

We got to our car, had it started and in reverse and my salesman buddy come over and wanted to know what was going on. I explained everything to him and he said if I can get you under $400 would you still be interested? I said nope. Gotta be under $390 now for jerking me around and you have 3 minutes and we are pulling off this lot.

He comes out about 2 minutes later and says come on back inside and sign with the finance manager here.

The finance "underling" we were dealing with the first time was pi$$ed. I told the finance manager my request was simple. And I wanted a yes or now answer and not to be jerked around. We signed and they payment ended up something like 389.87 or something like that.