Confessions of an Auto Finance Manager (You have to read this!) - Page 3 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Riderover40 · 03-26-2009, 01:27 AM

Quote:

Originally Posted by Camaro's from Dave

While I think it is a good read like anything else it is only one persons experience. Not to say what I read wasn't true to some extent. But take it with a grain of salt.

Take it as though understanding and practicing this advise can save you thousands of dollars. Everything to be learned in the read is knwoledge in my pocket after 32 years of pruchasing. Salesman and Finance specialists mostly make thier living on commission......10 % OF 10000 is 1000, 10% of 12000 is 1200, if it was you which would you be tempted to gain. Until experienced at and keeping many returning cutomers, the younger, inexperienced, or badass salesman may and more times then not will gouge you if you are not carrying the knowledge of what you do not need, the cost of what you do need, and what you are willing to pay for what you want. And especially important, get preapproved proir to shopping and make sure that you had the banks negotiate with you the best rate possible......then you know the rate the dealer should give you or try to better for you. Nuff said !

This 2010 Camaro is the first new car i am paying more then a couple of points over factory invoice since 1996. I am willing to pay MSRP fopr my 2SS, which is already a premium due to high demand, fixed supply. Can't wait

a6pk2go · 03-26-2009, 03:58 AM

I work in a call center and we have customers who sign contracts and I always tell them to remember "The Big PRINT giveth and the small print taketh away"

*Mindz* · 11-18-2009, 03:49 AM

Just re-read this. Bumping this for the new people getting ready to order their camaro.

jrboyd_1980 · 11-18-2009, 01:26 PM

Quote:

Originally Posted by 2Muchmark

TELL ME ABOUT IT...

When I was in my early 20's I didn't understand anything about money or interest - I just wanted my car. I had bad credit because I was always late on everything and got suckered into a 4 year LEASE at 18%, plus I "had" to buy the extended warranty, etc etc.

Actually you probably didn't get suckered into anything.. If you got an 18% interest that means it was a third chance bank, (Ie. Drive Financial) What you don't know is that they charge the dealership huge fee's sometimes. Those fee's come out of dealer's profit, and if the profit isn't enough to cover the fee, then they may make you buy something like the extended warranty just so they can cover the fee and make a marginal profit.

And as far as not going in their with a monthly payment in mind, I believe that is probably not the best idea. Do as suggested and go to your bank to see what financing they offer, but always know what the hell you can afford to spend monthly. If you don't one of two things will happen, you are going to end up buying a car that you can't afford the monthly payments, or you going to spend 3 hours negotiating price of vehicle, only to discover you can't afford the monthly payments and end up wasting your day. Don't let a dealership hide the price from you, but at same time know what you can afford to spend in monthly payments.

*The_Blur* · 11-18-2009, 01:59 PM

The most important thing that I want everyone to realize is that buying a car is a business transaction, not a chance to add a poker night player. You'll see the finance person once in your life, so skip the sports and weather. Get right to the business section and get done with it. The person gets paid enough for you not to be nice so put off being nice till you're done.

AOD86GT · 11-20-2009, 06:47 PM

Bumping to the top. Very informative reading. Thanks "OP"...

Cmaro214 · 11-20-2009, 09:20 PM

good info, but ive been looking at my numbers price wise for this car for months now, and if they dont equal the same at the end of the deal, no deal is whats coming out of my mouth.

Thrillz · 11-21-2009, 03:30 PM

Finding a honest dealership as well as salesman these days is really hard. I'll give you 2 example's of what i mean while i was shopping around for my camaro. Dealer #1 wants a $5000 deposit if i want to order my camaro plus acted like he was doing me a favour

. Dealer #2 tells me allocation has nothing to do with ordering

After several more tries of trying to order i decided its not worth the pain ill buy an inventory car. After not getting one straight answer i drove close to 1500 kms to not have to put up with these dealers games. Just brutal.

11-18-2009, 03:49 AM	#31
Mindz E.B.A.H. Drives: you wild... Join Date: Mar 2007 Location: In the happy padded room wearing a jacket that makes me hug myself... Posts: 18,420	Just re-read this. Bumping this for the new people getting ready to order their camaro. __________________ Blue Rush, 2010 SS [Car of the Week 3/22/2010] Traded in on...ZLZBUBB, 2013 ZL1

11-18-2009, 01:59 PM	#33
The_Blur Moderator Drives: 2018 Harley-Davidson Street Bob Join Date: Nov 2007 Location: San Diego Posts: 14,768	The most important thing that I want everyone to realize is that buying a car is a business transaction, not a chance to add a poker night player. You'll see the finance person once in your life, so skip the sports and weather. Get right to the business section and get done with it. The person gets paid enough for you not to be nice so put off being nice till you're done. __________________ RDP Motorsport//GEN5DIY//Cultrag Performance//JPSS//Rodgets Chevrolet// Operation Demon//Buy at Invoice//RACECARWEAR RESPECT ALL CARS. LOVE YOUR OWN. warn 145:159 ban

11-20-2009, 09:20 PM	#35
Cmaro214 Drives: 2010 ABM 1LT/RS Camaro "Blu Bruzr" Join Date: Oct 2009 Location: SouthWest Florida Posts: 596	good info, but ive been looking at my numbers price wise for this car for months now, and if they dont equal the same at the end of the deal, no deal is whats coming out of my mouth. __________________ VIN: 2G1FB1EV6A9178865

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03-26-2009, 03:58 AM	#30
a6pk2go Drives: ... Join Date: Oct 2008 Location: ... Posts: 1,721	I work in a call center and we have customers who sign contracts and I always tell them to remember "The Big PRINT giveth and the small print taketh away"

11-20-2009, 06:47 PM	#34
AOD86GT Drives: 2012 Mustang GT Join Date: Nov 2009 Location: New Jersey Posts: 2	Bumping to the top. Very informative reading. Thanks "OP"...

11-21-2009, 03:30 PM	#36
Thrillz Drives: 2019 Dodge Daytona R/T Join Date: Feb 2009 Location: Ontario Posts: 2,572	Finding a honest dealership as well as salesman these days is really hard. I'll give you 2 example's of what i mean while i was shopping around for my camaro. Dealer #1 wants a $5000 deposit if i want to order my camaro plus acted like he was doing me a favour . Dealer #2 tells me allocation has nothing to do with ordering After several more tries of trying to order i decided its not worth the pain ill buy an inventory car. After not getting one straight answer i drove close to 1500 kms to not have to put up with these dealers games. Just brutal.