AUTO SALESMEN: Sis bought a Mag Wagon & got reamed...how does she get out of it?

[Neal_J]

Wow, no offense but your sister and brother-in-law seem incredibly ignorant.   Not necessarily stuipd but really, really ignorant.  

Sure, it's shameful for the car salesman to rip them off, but not altogether surprising given that they seem to be devoid of basic common sense and money management skills.   Lucky for them, I guess, that you're willing to help bail them out.   Personally, I'd step back and let them learn a rather expensive but valuable lesson.

A course in basic money management at the local community college might be a good idea if they hope to keep any of the BANK you say they make.

Good luck to them...

Neal J.

[694spdRT]

UPDATE: I just got off the phone with my sister (my bro-in-law didn't want to talk to me...I think he's really embarassed) and told her that she should try to refinance through her bank credit union. She's going to check it out tomorrow. Shouldn't they be able to finance a new car for 3% to 5%? And I was wondering (just to get some satisfaction) how much $$$ will this screw the dealership and the salesman out of?

BTW: They're both home because he's sick and she is a cosmetologist who sets her own hours. What kills me is that she makes BANK, but it's mostly cash and she blows it as soon as it ends up in her hands.

I bet the best she is going to find right now is around 6%. Plus, her car is probably going to be considered used now. Last month I got 5.9% on a 2005 Dodge RAM with a real good credit history and I think that rates just went up a little.   

[Silver R/T]

Hey, this is MY thread, and if anyone is going to get it locked...it'll be ME. Now shut your trap and just THINK before you speak and we'll all cut you some slack....

all ive said is that I do not like dealers as they will always rip you off. What is bad about this sentence?

[Spartan]

I was suprised to hear the intrest rate was so high.   I thought some of the car companies were rock-bottoming the loan to keep inventory moving.   I got a good deal when I bought the Avalanche through GMAC (unless DCX doesn't offer financing, that I am not sure) so that was another draw to bring people into the showrooms.   10% sounds like gouging the more I think about it.

On the resale value, in the car companies haste to move new products they have created a surplus of used cars.   All the early turn-in offers on leases and discounts/rebates have drove the trade-in values right into the ground.

If they don't consider it new when they refinance it, the used car rate is a little higher, hopefully the get the new car rate.

I hope they get it straightened out.

Andy, I hope you didn't take offense to what I posted earlier.  You sound like the kind of guy I would buy from. 

There are good guys and bad guys in every feild, everyone always seems to remember the bad people though.

[694spdRT]

I don't remember if you said what year the Magnum was but, looking at the current Dodge incentives if the Magnum was a leftover '05 model they should have been able to get either $2500 in rebates or 3.9% for up to 60 months plus a $1000 rebate. If it is an '06 model there is only a $1000 rebate and no financing deal.

If it was an '05 they should have took the 3.9% because of the amount being financed. If it is an '06 they are at the mercy of the banks for rates.

I just talked to my dad and he just bought a leftover '05 Ram and the best out there was 6.1% through all the banks the dealers use......that may vary some where you live I suppose. 

[ChargerBill]

Hey, this is MY thread, and if anyone is going to get it locked...it'll be ME. Now shut your trap and just THINK before you speak and we'll all cut you some slack....

all ive said is that I do not like dealers as they will always rip you off. What is bad about this sentence?

OK, now I've reached my limit.... dude, you are one of the most idiotic posters I have EVER seen on this website. Now you're going to PLAY INNOCENT here and take my comment out of context? You commented about opinions and @$$holes and it went downhill from there, and YOU KNOW (even as dumb as you appear to be) that I was talking about THAT. You're really friggin' lucky I'm not a mod, because the sheer volume of stupidity, insults, tactless jibber jabber and assinine statements you have posted on this forum is so out of control that I would have locked you and your IP out a long time ago...I'd say Troy has the patience of a saint. Grab a freakin' clue, pull your head out and pay attention to the subject at hand. Stop clicking threads with the immediate intent to add your .05 ¢ (I'm not sure it's even worth THAT much)and READ the responses, THEN maybe research the topic a bit (read a newspaper or try googling once in a while), THEN formulate (do you understand that word?) an opinion,   and THEN, IF and only IF you have something pertinent (do you understand that word?) to say....then say it. Your drivel is driving most of us nuts and your AK47 comments are about as moronic as it gets. Sure, it's entertaining sometimes (kind of like watching a train wreck), but it's also very irritating. Anyone else agree here?...

[69charger2002]

 

[Troy]

Anyone else agree here?...

Um, yeah, but I forgot to put the "Don't be Stupid" disclaimer in the Terms of Service...

Troy

[bull]

I've learned some very useful things when buying cars and the number 1 rule is don't do your "research" on the car lot. Figure out what you want and how much it's worth before you walk onto the lot. Sounds simple but apparently it's a mystery to many people.

Rule #2: Don't get financing through the dealership. This eliminates a lot of vague numbers games by the salesman.
Rule #3: Call around and find the car you want as per rule #1 and don't go there until you've worked out you're financing and know the low book value.
Rule #4: Have a deadline of when you plan to leave the dealership with car or without and tell the salesman. Make it a real one too. Make a 3 pm appointment and walk onto the car lot at 1:30 pm. Tell the salesman you have 1 hour to make this work. Here's my offer for that specific car, I have my own financing and I'm leaving at 2:30 pm to go to the dentist and I'm not budging on the price. You'll take this amount for it or nothing and I'm leaving.

[Orange_Crush]

One more little rule of thumb that may help you out. 

I have not been at a dealership YET where this hasn't helped.

If the dealership closes at 9PM, show up at 8:45PM. 

The salesman is gonna want to go home and you'll be the only thing keeping him there.  That'll keep negotiations short.

[andy74]

the rates just went up again,its the first of the month and that is generally when the banks do so.the best 72 month rate i can get for 72 months,is 5.8, the only time you want to for go a rebate in place of finance is if you will save more over the term(rare)or if you are keeping the car to the end of the loan.by financing a lower amount you reduse the amount of principal,which means you will have a lesser balance to pay off.

and i agree,some people need to pull their head out of their but before posting,
and when you do your negotiations, i disagree with oc,start first thing on a saturday am,or monday am-that is when the guys most want to sell something,the end of the day he may not even care if you buy or not.

[Orange_Crush]

oh,and i agree,silver you are a dick

Classic

[John_Kunkel]

I'm of the opinion that there are only two kinds of new car buyers, those who got screwed and those who got screwed but think they got a good/great deal.

Some interesting reading on the subject:

http://www.aiada.org/article.asp?id=41074

[Troy]

From the link that John posted it seems that the 3 day cooling off period only covers used cars. Not too much help in this case but definitely a step in the right direction.

I think buying a car is one of the easiest ways to waste a large chunk of money without realizing how bad you just got ripped off. It's a depreciating investment that people pay interest on top of just for the privilege of throwing their money away. Unfortunately, I know a lot of people who think they have to buy new for the warranty etc. because they need a reliable car and are clueless when it comes to troubleshooting. It's also rediculously easy to get a car loan too which encourages consumers to overextend themselves. Too bad we all like cars so much...

Troy

[Brock Samson]

   That's why i bought my daily as a low Mi. lease return,.. @ $15K compared to the $29-31 K new...still learned something in the process,.. i shouldn't have bought the exrta stuff as the cough, cough,.. supposed warrenty has only covered $200 worth of stuff,.. and i paid $2K for it..  
since at the time i was gonna sell the charger and basicly trade straight away... i didn't mind the extra costs initally,.. once i decided to keep the charger it became problematic... i was faced with a nearly additional $10K in costs over the 5 yr. loan i set up, now,.. 2.5 years later... i finaly paid it off,.. so Whew...      and I still got my R/T SE which has appreciated at least   10K...  

i figgure the M is worth 10-13K now and the charger is worth maybe twice that... funny i was thinkin of trading straight across when the Ms came out in '99..
as it worked out i was delayed by stumbbleing across the   $2.3K '89 new yawker for a year... a good thing!     since it allowed me to keep the Skunk...

[69_500]

I'll agree that some people need to think before they type. I think that plenty of those people should just bypass hitting the reply button, and go on to reading the next topic.

I personally won't ever finance a car past 60 months. I don't really even like to take the loans out for 5 years. Because when you break it down, you usually get a better rate on the shorter loan. So say you pay 4% on a 4 year loan but 5.9% on a 5 year loan. Yeah the 4 year may be $75 more a month, but in the long run you'll save over a $1,000. So to me its always worth more to pay a little more each month, and save in the long run. Then again I always go into purchasing a vehicle knowing that I won't spend more than what I can afford on a 4 year loan. I too always go look at a car, get the sticker price, rebates and such then run the numbers past a few banks. Then I typically use a loan calculator and figure up the payments based on interst rates and lengths, and print out the results. That is how we figured up what interest rate the one dealership was trying to stick us with, on the RAM that we passed on.

[nh_mopar_fan]

Get a book called "Don't Get Taken Every Time" by Remar Sutton.

READ IT.

[HAZZARDJOHN]

I understand your guys opinions on purchasing new cars, and I am glad that works for you, but I would hold back on judging everybody that buys a new car as some ignorant fool. I understand the depreciation of buying a new car, but I don't care. I buy a new truck every two to three years. I drive about 45-60 thousand miles a year. It adds up fast. I like knowing what my car has been through since it was new. I like knowing that it was maintained. There is almost no way of knowing that with a used car. not to mention when I bought my current truck, an 04 ranger, that stickers for 26,000, I paid 18,500. They had a used 2002 ranger there with the similar equipment for 16k with 30,000. It was a lease return. What is the incentive to even change the oil in a leased car? For two thousand I got a truck with EXACTLY the options I want, in the color I want, with 6 miles on the odometer. In my opinion I think it was worth every penny. I traded my 01 ranger,Which was paid off, in on this one, and they gave me $11,500. That meant that my 04 cost me 7000 dollars. I already have this one paid off. and am putting the money in the bank to buy my next truck, next year. I am hoping to pay cash for that one. If I was willing to live closer to the cities and drive less, I could probably go the used truck route, but it honestly doesn't make any sense to me. I understand the cost thing, but if i didn't spend it on this I would spend it on something else that is just as ridiculous to most people. Life is too short and you can't take it with you!

[694spdRT]

 

I grew tired of buying 15 year old vehicles with 100,000 miles on them and wondering what would break next. I understand newer vehicles are not a good investment and I don't consider them one. If you get out of the newer vehicle trading market it is very, very costly to get back in. I worked hard to get my first new truck paid off in three years, have kept trading for very reasonable numbers by any means necessary, and gradually over ten years worked up to the diesel I have always wanted. Take good care of your vehicle that way you have something to bargain with at trade in time. My other problem is I have gotten tired of trying to sell my old trucks outright as I did it for years and it was always a hassle because people couldn't come up with the money, low balled you, or made me wait around all weekend and never showed up. All the while the new vehicle I had my eye on got sold.

Recently, while I was shopping for a newer truck I was laughing at the asking prices some places wanted for high mileage trucks. This is especially true with Cummins diesel trucks. It is great a Cummins lasts 500,000 miles but, the rest of the truck is going to be wore out long before that. After much looking I found a 13,000 mile 2005 Cummins that was $7000 less than a new 2006 even after all the rebates on the new one. The 2005 has more equipment and I will keep it for about 4 or 5 years anyway so the one year difference will not effect me too much. My old truck was by no means wore out but, if I kept it much longer I would have had to run it in the ground and start all over again. 

[Brock Samson]

opinions are like assholes, and Im not into assholes. Good day

From The Mind Of Silver...

[bull]

I think buying a car is one of the easiest ways to waste a large chunk of money without realizing how bad you just got ripped off. It's a depreciating investment that people pay interest on top of just for the privilege of throwing their money away. Unfortunately, I know a lot of people who think they have to buy new for the warranty etc. because they need a reliable car and are clueless when it comes to troubleshooting. It's also rediculously easy to get a car loan too which encourages consumers to overextend themselves. Too bad we all like cars so much...

Troy

Ideally you should never buy a car newer than a year or two old and always pay cash.

[Orange_Crush]

I think buying a car is one of the easiest ways to waste a large chunk of money without realizing how bad you just got ripped off. It's a depreciating investment that people pay interest on top of just for the privilege of throwing their money away. Unfortunately, I know a lot of people who think they have to buy new for the warranty etc. because they need a reliable car and are clueless when it comes to troubleshooting. It's also rediculously easy to get a car loan too which encourages consumers to overextend themselves. Too bad we all like cars so much...

Troy

Ideally you should never buy a car newer than a year or two old and always pay cash.

As I had mentioned before, I always pay cash for cars...just doesn't make sense for me to pay $26000 bucks for a $20,000 car.

I don't, however, buy used cars anymore.  Every used car that I have ever bought has given me nothing but trouble.  I just can't trust the treatment that the previous owners gave the car...and now, with so many off-lease vehicles being sold as used cars, its even worse, Lease customers are notorious for beating the hell out of their cars.

[694spdRT]

IMO if any of you guys are thinking about owning a "new" Dodge truck outright vs a used one now is the time to buy. I have been looking around for a work truck for our business to replace the ten year old one we have.

If you get to the right dealer that wants to move vehicles the leftover 2005's are about as cheap as I have ever seen because of the inventory reduction going on.

Here are some examples: BTW the first two were just for curiosity sake not practical for work.

2005 Rumble Bee 4 x 4 list price of $36,000 outright price $24,000
2005 Quad Cab Daytona 4 x 4 list price of $40,800 outright for about $27,000.
Ton's of 2005 Regular cab 4 x 4 Hemi's for $20-22,000 depending on options.  
2005 Ram 2wd Hemi with a list price of around $32,000 outright $16,900 (This is a loaded up oddball that makes the most sense for me. More truck than what I really need but, a new plain jane V6 Chevy W/T is around $15,200)

I have looked at some used trucks but for the miles that they have and the asking price the new makes more sense to me.

[Old Moparz]

I have looked at some used trucks but for the miles that they have and the asking price the new makes more sense to me.

That's exactly what happened in my case. The Pathfinder I was driving had 165,000 miles & starting to get some rust, & I would have had to buy tires before the winter too. Since it was used when we bought it, we don't know the entire history of how it was taken care of. It ran great & never cost anything except for maintenance, but you get to a point where it just doesn't make sense to keep dumping money into an old beater that's just a daily driver. What happens if I have to go for a timing belt, battery or something else on borrowed time? I can spend lots of money on it & still have a rot box when I'm done.

I started looking at new & used vehicles in the price range of a new PT Cruiser, & started to think more about replacing our '95 Ford F-150 that we tow with & use that as a daily driver. When I priced a few used trucks I came across the ad for the Dodge Ram 1500 I ended up buying. There were 2 used trucks I saw less than 2 or 3 years old. One was $25,000 with 30K miles on it, & the other was $20,000 with more miles. The Dodge was a 2004 leftover with 20 miles on it, & a sticker of $36,065. It's a 4x4 Quad cab with a Hemi, an 8 foot bed, Infinity CD & cassette, heated mirrors & a few more things I haven't found yet. It was discounted to $23,065 & a no brainer to buy.

Used is a better investment if you are looking at it dollar for dollar, but I keep my vehicles a lot longer than 2 or 3 years. I see them as a necessity & not an investment, & don't worry about the resale value. By the time I am ready to get rid of something, it's a good starter vehicle that doesn't cost much for someone else. My Ford has 125,000 miles on it now & is a clean, rust free truck that's 11 years old. As long as it doesn't start to rot out I'll keep it & maintain it. It's tough to not want to drive the Dodge since it's new & has a decent stereo, but I'm hoping to get a few more years out of the Ford & keep the Dodge for the next daily driver.

I've had my share of $100 beaters & the headaches that go with them. New is nicer.

[andy74]

the only thing for any of you guys looking for a new dodge,the bonus cash is tied to finance with chrysler financial-the best rate they have is 6.9,so then you can check your own bank-just remember you give up 1-2 grand,and it takes a lot of rate difference to make that up,let me know if i can help any of you guys out,except silver-Andy