Bought a car today! - Page 2 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

caverman · 02-26-2014, 10:03 AM

Dang that rate is high. I just bought a 2013 Yukon last month and got 2.25%. If I would've bought brand new it was going to be 1.79%.

I will say that I was one of those that went to the dealer pre-approved from my CU when I bought my Camaro. If I remember correct it was basically 4% at the time. The dealer wanted me to buy a warranty and if I did they could get me a rate of 3.5%. I went that route and everything turned out just fine.

I don't know that I would worry a ton until they come back and tell you that the rate they offered fell through or that you'll have to pay more. You said you've already been pre-approved prior to purchasing so my guess is that you could always get that rate. You might give the dealer a call and find out where your situation stands.

SSGUNNER · 02-26-2014, 10:09 AM

I must admit this happened with the 2011 LT I originally got. Finance guy wanted to re-negotiate because they said the same thing no bank would finance me. Which was BS since I had good credit. Eventually they figured it out and got chase to take the loan. I'm sure they lost money. Lol.

maddoggyusa · 02-26-2014, 10:14 AM

wow, I never heard of this. I'm surprised they let you take the car home like that and put miles on it??

doesn't sound like a big deal. worst case use your own financing. but it's a shame the dealer doesn't explain it honestly.

does GM still have the 30-day money back guarantee???

TPAJETSKI · 02-26-2014, 11:04 AM

Quote:

Originally Posted by nyrfan

This is a normal and legal process called "spot delivery". And no they did not screw you, you had the chance and obligation to read the p/w prior to signing but you decided to read it after the fact.

This is why you should always secure financing on your own prior to your purchase through your bank or local CU. Then there are ZERO questions on the approval.

We represent dealerships. This is the correct (mostly) answer.

2SS 2011 · 02-26-2014, 12:03 PM

I learned my life lesson when I purchased my 2000 Z28 when I was a kid.. 16.9 dealer interest wasn't a big deal to me. I didn't care as long as I got the car.. I extended the crap out of my wallet and when my father saw what I did he was more pissed at me for letting them get one over on me. Lesson learned. 650 a month for that car lol..

BMTGIE · 02-26-2014, 12:12 PM

I'm glad that this did happened. You only truly learn things when it directly happens to you and go through it. I declined help from family/friends to go with me to purchase. If they would have came I wouldn't have actually learned anything because they would have took control.....

But anyway I might have good news in a few moments.

Austin45 · 02-26-2014, 01:24 PM

Quote:

Originally Posted by caverman

Dang that rate is high. I just bought a 2013 Yukon last month and got 2.25%. If I would've bought brand new it was going to be 1.79%.

I will say that I was one of those that went to the dealer pre-approved from my CU when I bought my Camaro. If I remember correct it was basically 4% at the time. The dealer wanted me to buy a warranty and if I did they could get me a rate of 3.5%. I went that route and everything turned out just fine.

I don't know that I would worry a ton until they come back and tell you that the rate they offered fell through or that you'll have to pay more. You said you've already been pre-approved prior to purchasing so my guess is that you could always get that rate. You might give the dealer a call and find out where your situation stands.

I believe that's illegal to promise a lower rate if you buy the extended warranty, because that rate is available to you regardless if you buy the warranty or not.

angie7 · 02-26-2014, 01:56 PM

Yup when I bought my first Camaro I was living in Florida at the time, the dealer did this to me wo my knowledge. I signed the papers for a certain price and interest rate then 3 days later called me and told me that it got "messed up" and I need to resign. Took the car back and they told me either I sign for the new price and interest rate (which doubled) or they would charge me all these extra fees. Like an idiot I signed bc I loved the car and figured I'd refinance it with my own bank in Indiana (where I was from)also happened the day I signed the new paperwork was also the same day I was bringing the car in to fix a scratch where whoever fixed it swirled and laid the edge of the buffer wheel into the paint and stripe

long story short they fixed their mistake AFTER a drag out fight where the cops where almost called between me and the aholes manager who threatened to steal my car bc he didnt know I signed the new papers. It was a mess and glad I got out from under that loan 7 mths later then i traded it in on my SS and put that mess behind me.

Make sure they dont take on the extra warranties. This same shady dealership did me after I signed the paperwork and cost an extra 3k for crap I didnt even sign for. I got it all back when I traded in the car but still. That dealer is so shady

BMTGIE · 02-26-2014, 02:36 PM

I called the finance manager and he assured me this wasn't a "spot delivery" and the car was mine and that I was approved by the lender. And that the documents that I signed was universal. I still felt something shady was going on.

So I then called the lender and they said yes I was approved.

trashmanssd · 02-26-2014, 02:48 PM

See no need to panic.

Pace · 02-26-2014, 02:50 PM

The finance guy shouldve told you everything while you were signing. Dont worry too much.

suzook · 02-26-2014, 02:53 PM

So now that you have everything straightened out....

trashmanssd · 02-26-2014, 03:05 PM

Quote:

Originally Posted by suzook

So now that you have everything straightened out....

+1

roosnam007sag · 02-26-2014, 04:26 PM

Quote:

Originally Posted by BMTGIE

I called the finance manager and he assured me this wasn't a "spot delivery" and the car was mine and that I was approved by the lender. And that the documents that I signed was universal. I still felt something shady was going on.

So I then called the lender and they said yes I was approved.

Glad it worked out for you .In my case when i submitted the documents the lender said they couldn't finance the car on terms stated in the agreement with the dealership.Worst thing was i rode away with the car on a weekend and it wasn't until the next working day i got to know this info.And already had put on some significant miles.
Finally it was my credit union who came to the rescue.

02-26-2014, 10:03 AM	#15
caverman Drives: '69 SS Convertible Join Date: May 2009 Location: DFW, TX Posts: 7,111	Dang that rate is high. I just bought a 2013 Yukon last month and got 2.25%. If I would've bought brand new it was going to be 1.79%. I will say that I was one of those that went to the dealer pre-approved from my CU when I bought my Camaro. If I remember correct it was basically 4% at the time. The dealer wanted me to buy a warranty and if I did they could get me a rate of 3.5%. I went that route and everything turned out just fine. I don't know that I would worry a ton until they come back and tell you that the rate they offered fell through or that you'll have to pay more. You said you've already been pre-approved prior to purchasing so my guess is that you could always get that rate. You might give the dealer a call and find out where your situation stands. __________________ *-2010 Camaro* 2SS \| M6 \| VR w/White Stripes \| 1 3/4" KOOKS - 3" Magnaflow \| LPE 3.91 gears \| ADM tuned \| Halltech w/ADM Scoop \| Spohn/BMR Trailing Arm/Toe Rod \| BC Coilovers\| Pedders FE4 ZL1 swaybars \| Cradle/Diff/Radius Rod bushings \| VMax TB \| Morimoto Projectors \| MGW shifter \| Red Calipers Build Journal

02-26-2014, 10:09 AM	#16
SSGUNNER Chu no guat a hasa is? Drives: 14 Jeep G Cherokee Overland HEMI Join Date: Jun 2011 Location: Some where in So Cal Posts: 4,272	I must admit this happened with the 2011 LT I originally got. Finance guy wanted to re-negotiate because they said the same thing no bank would finance me. Which was BS since I had good credit. Eventually they figured it out and got chase to take the loan. I'm sure they lost money. Lol. __________________ 11 2SS/RSL99No Longer Stock (Sold) 6/19/14:AAC Plasma DRL's \| Plug n play harness \| Elite CC \| Tint: 35% & 5% \| LED Dome light \| Show-N-Go Plate Holder \| Flowmaster AT \| C.A.I. Intake \| VMAX CNC Spiral Ported TB \| Husky Splash Guards

02-26-2014, 01:56 PM	#22
angie7 Smoked by a GIRL Drives: 2014 2SS/RS Join Date: Mar 2011 Location: Southern Indiana Posts: 3,748 View My Garage	Yup when I bought my first Camaro I was living in Florida at the time, the dealer did this to me wo my knowledge. I signed the papers for a certain price and interest rate then 3 days later called me and told me that it got "messed up" and I need to resign. Took the car back and they told me either I sign for the new price and interest rate (which doubled) or they would charge me all these extra fees. Like an idiot I signed bc I loved the car and figured I'd refinance it with my own bank in Indiana (where I was from)also happened the day I signed the new paperwork was also the same day I was bringing the car in to fix a scratch where whoever fixed it swirled and laid the edge of the buffer wheel into the paint and stripe long story short they fixed their mistake AFTER a drag out fight where the cops where almost called between me and the aholes manager who threatened to steal my car bc he didnt know I signed the new papers. It was a mess and glad I got out from under that loan 7 mths later then i traded it in on my SS and put that mess behind me. Make sure they dont take on the extra warranties. This same shady dealership did me after I signed the paperwork and cost an extra 3k for crap I didnt even sign for. I got it all back when I traded in the car but still. That dealer is so shady __________________ 2014 2SS/RS Summit White w/ IOM interior "Powder 2.0"

02-26-2014, 02:50 PM	#25
Pace Lifestyle = Deathstyle Drives: 11 SIM 2SS/RS Join Date: Mar 2010 Location: Long Island, NY Posts: 686	The finance guy shouldve told you everything while you were signing. Dont worry too much. __________________ 11 2SS/RS

02-26-2014, 02:53 PM	#26
suzook Drives: camaro Join Date: May 2013 Location: Stony Brook,NY Posts: 1,756	So now that you have everything straightened out.... __________________ 2016 2SS,A8,NAV,NPP,MAG Ride,Sunroof Hyperblue/JetBlack

02-26-2014, 10:14 AM	#17
maddoggyusa Drives: 2013 Camaro Dusk 2SS/6 Join Date: Sep 2013 Location: New Jersey Posts: 1,586	wow, I never heard of this. I'm surprised they let you take the car home like that and put miles on it?? doesn't sound like a big deal. worst case use your own financing. but it's a shame the dealer doesn't explain it honestly. does GM still have the 30-day money back guarantee???

02-26-2014, 12:03 PM	#19
2SS 2011 Drives: 2011 Camaro 2SS/RS M6 Black Join Date: Feb 2011 Location: NY Posts: 963 View My Garage	I learned my life lesson when I purchased my 2000 Z28 when I was a kid.. 16.9 dealer interest wasn't a big deal to me. I didn't care as long as I got the car.. I extended the crap out of my wallet and when my father saw what I did he was more pissed at me for letting them get one over on me. Lesson learned. 650 a month for that car lol..

02-26-2014, 12:12 PM	#20
BMTGIE Drives: 2014 RRM SS/ 2011 Black LS Join Date: May 2011 Location: Texas Posts: 305	I'm glad that this did happened. You only truly learn things when it directly happens to you and go through it. I declined help from family/friends to go with me to purchase. If they would have came I wouldn't have actually learned anything because they would have took control..... But anyway I might have good news in a few moments.

02-26-2014, 02:36 PM	#23
BMTGIE Drives: 2014 RRM SS/ 2011 Black LS Join Date: May 2011 Location: Texas Posts: 305	I called the finance manager and he assured me this wasn't a "spot delivery" and the car was mine and that I was approved by the lender. And that the documents that I signed was universal. I still felt something shady was going on. So I then called the lender and they said yes I was approved.

02-26-2014, 02:48 PM	#24
trashmanssd Drives: Black 14 2SS/1LE/RS 14 Tundra Join Date: Dec 2013 Location: Plymouth, Ma Posts: 2,414	See no need to panic.