Extra fees for financing added to the quoted price

[dodge man]

That’s one of the things that allow a dealer, be it cars or tractors to sell stuff at or near cost. They make the money elsewhere, extended warranty, paint and interior protection, dealer prep fees, their cut of the financing and selling attachments and accessories.

 

[not2old]

What would your reaction be if you went to buy some milk and the cashier added a fee for shipping and stocking the shelves? Any time I'm buying from a dealer, I tell them up front that the price needs to be put in writing, to include any necessary fees, and provide a list of all taxes. Never experienced a problem.

 

[AchingBack]

In 2005 I purchased my Mahindra 2615 for $14,995, zero interest 36 mos. I ignorantly paid a $200.00 administrative fee. I don't know if the dealer, or Agricredit got it.

 

[fried1765]

In 2005 I purchased my Mahindra 2615 for $14,995, zero interest 36 mos. I ignorantly paid a $200.00 administrative fee. I don't know if the dealer, or Agricredit got it.

Many tractor/auto mfg./dealers fall into the sneaky bastards category.

 

[mangler]

In 2005 I purchased my Mahindra 2615 for $14,995, zero interest 36 mos. I ignorantly paid a $200.00 administrative fee. I don't know if the dealer, or Agricredit got it.

Likely Agricredit. At least in the US there are laws stating the maximum they can charge. In Canada it's open season, some charge up to $650. I ended up paying the fee, it is very obvious this is not a dealer fee, it is a separate credit entity. I did mention to the dealer I was displeased with him not being up front with the fee during price quote exchanges. It's all about the final price, I am satisfied with the deal I got, overall.

Until they legislate this in Canada the credit people can charge whatever they want.

 

[jaydee325]

Dealers do this because they can. Most just grumble and take it.

I say no, and walk out the door.

 

[grsthegreat]

Here in USA, dealers are not allowed to charge more for financing or credit card charges. Everyone has to be charged the same. But you are allowed to offer cash discounts.

I offer financing and credit card use for my generator business. I had to raise all my costs across the board 10 years ago to cover the charges both credit and financing cost me. I offer cash clients a discount to help balance these fees. That痴 the only legal way I can offer these services and not lose money. Financing can add 6% to my cost burden, and credit adds 2.7%.

 

[Peter 315]

The same here on gas pumps some have a cash or credit price......

 

[mangler]

Dealers do this because they can. Most just grumble and take it.

I say no, and walk out the door.

There is a big difference when the credit entity is an integral part of the transaction. For example, when I bought my last car (GM), I was dealing with GM credit. I made them take out very cent of the fees they had tacked on. Because they had skin in the game.

Here it's a third party credit entity, they don't really care what you buy. I suppose I could have called DLL and yelled at them to reduce the fee, but that's about it. Likely with limited success, because you know, they don't really care and you don't have any options.

Like I said, legislation bringing the fee down to a reasonable level is the only real way this will change.

 

[RickB]

If a tractor, or auto dealer, wants to add shipping, or bogus fees, after the agreed price, then I will simply provide him with the opportunity to continue to keep his lot well stocked, by not buying from him.

I did not advocate adding charges after a quote. I am pointing out that the transportation cost exists, which some here obviously doubt.