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Camaro Price | Ordering | Tracking | Dealers Discussions Discuss pricing and ordering experiences.

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Old 04-20-2009, 08:20 PM   #26
Embalmer
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My dealer finally emailed be back today.

He said that the check should be fine after he called and spoke to the credit union. He said his fear was that the credit union would "put a hold on the check" but he confirmed with a call that they DO NOT.

So he said we shouldn't have any problems....

Now I just need my car to show up!!
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Old 02-19-2012, 10:09 PM   #27
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Great topic.

My question is, how does going through a credit union insulate you from higher doc fees ???? And what is the normal amount for said fees ???? (I live in CA, if that helps)
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Old 02-19-2012, 10:21 PM   #28
calbert1999
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Dealers a moron. I put down a pretty substantial amount when I purchased my vehicle. I gave them a certified cheque (I think what you call pre-approved is the same thing). They happily took the cheque and, gave me the keys.
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Old 02-19-2012, 10:24 PM   #29
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Now that the car thing is worked out I'm going to laugh like hell at this,
so funny and accurate.

Quote:
Originally Posted by Vash View Post
I'll translate the salesman speak for you with my terminator mode on.


"The CU won't let us pork you with overbloated doc fees and overpriced paint and underbody sealants etc etc".

Terminator translation mode... OFF
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Old 02-19-2012, 10:44 PM   #30
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financing through the dealer is not always a bad thing if u actually know what your doing and not just some idiot who buys a couple cars and thinks he knows how the business works...yes the dealer is allowed to mark up points within a 1.5-2 limit...but they also get a much better buy rate since they do 100 loans a month with banks compared to joe shmo who does 1 loan ever 3 years, so the best way to have your cake and eat it too is to go get approved for your best rate possible at your local bank, present the rate to the dealer and tell him he can have your loan business if he beats it, and they will most def beat it. so outside financing is def not best, its actually usually higher than what a reputable dealer can get you
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Old 02-19-2012, 10:53 PM   #31
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Quote:
Originally Posted by 11cyberV6 View Post
financing through the dealer is not always a bad thing if u actually know what your doing and not just some idiot who buys a couple cars and thinks he knows how the business works...yes the dealer is allowed to mark up points within a 1.5-2 limit...but they also get a much better buy rate since they do 100 loans a month with banks compared to joe shmo who does 1 loan ever 3 years, so the best way to have your cake and eat it too is to go get approved for your best rate possible at your local bank, present the rate to the dealer and tell him he can have your loan business if he beats it, and they will most def beat it. so outside financing is def not best, its actually usually higher than what a reputable dealer can get you
This seems to work. I got approved for 2.9 APR for 60 months through my Credit Union that I joined when I purchased my first new vehicle and the dealer said they would beat it.
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Old 02-20-2012, 07:30 AM   #32
tmandoug1
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Quote:
Originally Posted by Embalmer View Post
So I just talked to my dealer and he seems to think that paying for a car with a pre-approved check is "not normal".

He is worried that some of these "online credit unions" charge hidden fees or if the dealer doesn't do something "exactly right" that the check will bounce.

This is a pre-approved check from Pentagon Federal Credit union. I am in Michigan and the CU is in Nebraska... so he was also worried that there wasn't a Brick and Mortar place here in Michigan.

Can any other dealers say whether this is a major concern for dealers? I thought a pre-approved check was GOOD thing.

Can he refuse to accept this check???
I have a Pre- approved through Navy Federal for my new ZL1 and I showed it to my dealer yesterday and he was actually happy to see it. You are good to go man no need to worry.
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Old 03-01-2013, 02:46 AM   #33
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It is usually better to get pre-approved on a car loan and do some research before go for a purchase. You can get some help with a site I used. How many times have you needed additional info concerning a new or used car or truck and resorted to an internet search on bad credit auto loans? Look no further, everything you will need is at CarDealExpert.com!
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Old 03-03-2013, 06:24 PM   #34
cadyshac
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Tell the dealer you will finance thru him if he can give you a lower rate than PenFed.
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