This is topic Any autosales guys/gals out there? in forum General Talk at Northern California Ford Owners  .


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Posted by Jdub07 (Member # 2728) on :
 
Have some dealership questions.

First off I have a 2000 Mountaineer no one will buy private party because they don't want to pay what I pay in gas (AWD 5.0's are pigs).

In any case I owe on my Patelco loan $11,300 and have the truck for sale $10,999. KBB is about $14,000 private party. Can I just trade this thing in? Would a dealership take my truck and pay it off if I buy something else from their lot? Granted the miles,condition and year are subject to what I owe?

I need a something that gets better gas milage.
 

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Posted by 5.0-srt-4 (Member # 5864) on :
 
ive bought and sold and traded it over 10 cars in the last 2 yrs...go to kbb.com trade in and subtract 1k and thatll be close
 

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Posted by Jdub07 (Member # 2728) on :
 
okay well I was off a little.

KBB is 13K privat party and almost 11k for trade in. But do dealers pay off your previous loan in order to get another one through them?
 

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Posted by Fast_Bitch (Member # 2316) on :
 
you should try and get a loan through techcredit union I bet we can get you a better rate
 

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Posted by rickm237 (Member # 5323) on :
 
YES. Whatever the trade in value they offer you, lets just say its only 9,800, and you owe 11,300, they will take the difference (1,500) and put it on top of your new loan. Lets just say that you pick up a gas saver honda or toyota or whatever, for.........8,995 + taxes (taxes being 10%) so that gas saver coming out to 9900. The dealership will finance that "difference" into your new loan, meaning your new balance will be 9,900 + 1,500= $11,400. YOU DONT have to take the offer they make to you on your mountaineer. If you do, negotiate the price on the gas saver. Trust me, negotiate the price on one of the cars because they WANT YOUR BUSINESS. ALSO by law the dealership is supposed to show you the invoice on the car. When you do that they'll usually tell you that they got to keep the lights on, so they'll make you an offer of $100-$500 over invoice. So if the invoice price on the gas saver is 7,100, they'll make you an offer somewhere in the neighborhood of 7,200-7,800. Go ahead and take it and take the offer on your mountaineer. Good Luck and if you have any questions ask me - rickm237, modular5.0, or quickpony. I know that me and those guys are in car sales. Just a lil secret on savin some $$$$$$$ --Rick
 

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Posted by Jdub07 (Member # 2728) on :
 

quote:

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Originally posted by rickm237:
YES. Whatever the trade in value they offer you, lets just say its only 9,800, and you owe 11,300, they will take the difference (1,500) and put it on top of your new loan. Lets just say that you pick up a gas saver honda or toyota or whatever, for.........8,995 + taxes (taxes being 10%) so that gas saver coming out to 9900. The dealership will finance that "difference" into your new loan, meaning your new balance will be 9,900 + 1,500= $11,400. YOU DONT have to take the offer they make to you on your mountaineer. If you do, negotiate the price on the gas saver. Trust me, negotiate the price on one of the cars because they WANT YOUR BUSINESS. ALSO by law the dealership is supposed to show you the invoice on the car. When you do that they'll usually tell you that they got to keep the lights on, so they'll make you an offer of $100-$500 over invoice. So if the invoice price on the gas saver is 7,100, they'll make you an offer somewhere in the neighborhood of 7,200-7,800. Go ahead and take it and take the offer on your mountaineer. Good Luck and if you have any questions ask me - rickm237, modular5.0, or quickpony. I know that me and those guys are in car sales. Just a lil secret on savin some $$$$$$$ --Rick

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That was just the information I was looking for thank you!
 

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Posted by rickm237 (Member # 5323) on :
 
Also, they have to show you the invoice ONLY if YOU ASK for it, so dont forget--dont be scared, dont feel like theyre belittling you, stand your ground and let them know that you are not in ANY big hurry to get rid of the mountaineer. LISTEN AND READ THIS, dont show a lot of interest in the car --rick
 

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Posted by putter (Member # 4253) on :
 
Instead of showing you the invoice they can always say NO. There is no law that says they have to show you an invoice lol. Also if they were to sale the vehicle at $500 over invoice how can they add the NEGATIVE equity to the vehicle? They cant thats illegal! This guy is spinnin you for a loop. Youre in a tough spot the dealership doesnt have peolpe begging for gas hogs and asking to pay full price just look at the guy above me. Your trade is gonna be hard.
 

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Posted by rickm237 (Member # 5323) on :
 
Instead of showing you the invoice they can always say NO. There is no law that says they have to show you an invoice lol. Also if they were to sale the vehicle at $500 over invoice how can they add the NEGATIVE equity to the vehicle? They cant thats illegal! This guy is spinnin you for a loop. Youre in a tough spot the dealership doesnt have peolpe begging for gas hogs and asking to pay full price just look at the guy above me. Your trade is gonna be hard.

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Hope to get into the teens on some juice?


They add the negative equity by reducing the price of the car (invoice plus 500 or whatever) then they add the negative equity to the car that youre buying so that you wont be financing a vehicle thats for sale more than its worth. It not neccessarily adding it to the car, rather theyre giving you more for your trade, if you want to think of it that way. either way this works and btw--have you worked at a dealership?? also your sig says "hope to get in to the teens on some juice" what the ruck are you bringing to the track--your chevroLEGS??? hahahahahah --rick
 

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Posted by putter (Member # 4253) on :
 
8yrs in sales and i can tell by the way you talk your not in sales. All im saying is the final price is the price you agree to plus the negative meaning $500 over plus the negative wich we will call $1000 so in reality $1500 over. also they will for sure show you the negative equity number. also kbb.com is not recognized by any lending institution karpower kbb is the program used and it costs $500 bucks. They cannot agree to $500 over and on a special line write in $1000 negative equity to the cost. and off hand i cant think of any car that runs over the teens can you? doot doot
 

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Posted by MINGRYGT (Member # 2439) on :
 
that is how its done, the negative is financed on top of the car.. all you car salesmen in here and no one has asked for the business. Anyway what kind of car are you looking for?? I can make you an awesome deal. I work at a vw store and have 100+ new cars in stock, and almost any make and model on my used lot.. Im the sales manager here so let me know.
 

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Posted by putter (Member # 4253) on :
 
I made the move to a dinky used car lot in roseville we only stock 25 cars or so. doubt i got anything he wants.
 

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Posted by MINGRYGT (Member # 2439) on :
 

quote:

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Originally posted by putter:
I made the move to a dinky used car lot in roseville we only stock 25 cars or so. doubt i got anything he wants.

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how many cars a month do you sell?? if your any good, i'll hook you up with a job.
 

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Posted by putter (Member # 4253) on :
 
DIU Im screwed for a while at a new car dealership. I have some top man plaques
 

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Posted by cobraracer46 (Member # 1142) on :
 

quote:

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Originally posted by Jdub07:
Have some dealership questions.
I owe on my Patelco loan $11,300 and have the truck for sale $10,999. KBB is about $14,000 private party. Can I just trade this thing in? Would a dealership take my truck and pay it off if I buy something else from their lot? Granted the miles,condition and year are subject to what I owe?

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Unbelievable how some people can never break bad habits. It looks like you haven't learned your lesson that credit stinks worse than dog shit, have you? It appears that you have already forgotten about all those payments on your gas guzzler SUV that ripped off money from your income every month and put you in a upside down situation so now you wanna jump right back into the snake pit, I mean car dealer, and throw money down the toilet again by making payments on a asset that goes down the toilet in value? All of the scum bag snakes at the dealer will always tell you that the only way to buy a car is to make payments on it and that's fine if you wanna fund their bank account, but if you wanna grow your bank account or any investment you might have ,you buy shit you can afford with cash so you have control of your income, instead of some faggot at a bank or a piece of shit snake behind some desk at a car dealer having control over your income. Think about it. By the way while on the subject of car dealers, am I the only one who chuckles when ever I see a car dealer "credit specialist" also known as a "rip off artist" say: No credit, bad credit, repossessions, bankruptcy, we can help! in a ad? Ha HA, I always do!

[ October 26, 2005, 12:45 AM: Message edited by: cobraracer46 ]
 

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Posted by Jdub07 (Member # 2728) on :
 

quote:

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Originally posted by cobraracer46:

quote:

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Originally posted by Jdub07:
Have some dealership questions.
I owe on my Patelco loan $11,300 and have the truck for sale $10,999. KBB is about $14,000 private party. Can I just trade this thing in? Would a dealership take my truck and pay it off if I buy something else from their lot? Granted the miles,condition and year are subject to what I owe?

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Unbelievable how some people can never break bad habits. It looks like you haven't learned your lesson that credit stinks worse than dog shit, have you? It appears that you have already forgotten about all those payments on your gas guzzler SUV that ripped off money from your income every month and put you in a upside down situation so now you wanna jump right back into the snake pit, I mean car dealer, and throw money down the toilet again by making payments on a asset that goes down the toilet in value? All of the scum bag snakes at the dealer will always tell you that the only way to buy a car is to make payments on it and that's fine if you wanna fund their bank account, but if you wanna grow your bank account or any investment you might have ,you buy shit you can afford with cash so you have control of your income, instead of some faggot at a bank or a piece of shit snake behind some desk at a car dealer having control over your income. Think about it. By the way while on the subject of car dealers, am I the only one who chuckles when ever I see a car dealer "credit specialist" also known as a "rip off artist" say: No credit, bad credit, repossessions, bankruptcy, we can help! in a ad? Ha HA, I always do!

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Ummmmm yeah ,... good for you bud. Sounds like you have some issues, so I'm glad you have a way to cope. HA HA.
 

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Posted by cobraracer46 (Member # 1142) on :
 
I certainly have big issues with some one other than my self having control over my income. When you have a shit load of payments all over the place, your paycheck automatically gets handed over to a hole bunch of other people other than your self and as a result, you are robbed from the opportunity to save and invest because every month, your income is getting ripped off by payments. Do you ever stop and wonder why you see very old people working at McDonald's or Walmart?
 

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Posted by Jmir018 (Member # 1414) on :
 
becuase they never invested. you can only save so much money. cobra racer,no disrespect, but you seem like the type of guy that will put every single penny he's got in the bank. what investments do u have? your house? you need more than that.
 

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Posted by cobraracer46 (Member # 1142) on :
 

quote:

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Originally posted by Jmir018:
cobra racer,no disrespect, but you seem like the type of guy that will put every single penny he's got in the bank.

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None taken. I admit that I'm a tight wad when it comes to money, but I also understand that I need to enjoy spending it, up to a point. You are right that you need to spread out your investments and putting money into a lot of different long term mutual funds is one one way I invest.
 

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Posted by MINGRYGT (Member # 2439) on :
 

quote:

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Originally posted by cobraracer46:

quote:

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Originally posted by Jdub07:
Have some dealership questions.
I owe on my Patelco loan $11,300 and have the truck for sale $10,999. KBB is about $14,000 private party. Can I just trade this thing in? Would a dealership take my truck and pay it off if I buy something else from their lot? Granted the miles,condition and year are subject to what I owe?

---

Unbelievable how some people can never break bad habits. It looks like you haven't learned your lesson that credit stinks worse than dog shit, have you? It appears that you have already forgotten about all those payments on your gas guzzler SUV that ripped off money from your income every month and put you in a upside down situation so now you wanna jump right back into the snake pit, I mean car dealer, and throw money down the toilet again by making payments on a asset that goes down the toilet in value? All of the scum bag snakes at the dealer will always tell you that the only way to buy a car is to make payments on it and that's fine if you wanna fund their bank account, but if you wanna grow your bank account or any investment you might have ,you buy shit you can afford with cash so you have control of your income, instead of some faggot at a bank or a piece of shit snake behind some desk at a car dealer having control over your income. Think about it. By the way while on the subject of car dealers, am I the only one who chuckles when ever I see a car dealer "credit specialist" also known as a "rip off artist" say: No credit, bad credit, repossessions, bankruptcy, we can help! in a ad? Ha HA, I always do!

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its not even fun to argue with you or clown you anymore. You seem like a pitiful old man. Sorry life turned out this way for you. If you ever want to make any real money I can hook you up with a job, then you want have to worry about where all your payments are going.
 

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Posted by cobraracer46 (Member # 1142) on :
 
You know what MINGRYGT, I always have fun discussing financing with you. By the way, I always wonder how car dealer finance guys can sleep at night after ripping people off all day long. Case In point: right now, one dealer in San Jose is offering a 97 Ranger for "only" 1000 down and $199 a month for 48 months. In that case the dealer got bought the ranger for close to the down payment price, so all the payments made on it are gravy for the dealer.
 

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Posted by Jdub07 (Member # 2728) on :
 
I can see what he's saying to a point. If had vehicle debt that was extreem along with credit cards and such. My payments are $200 a month at 4% interest. I feel its a pretty good rate. I bought the car for 3k less than KBB all before gas prices went so high (Katrina). Can't for-see something like that.

Can I afford the gas and payments? Yes. Do I want to pay the gas prices? Nope. My situation isn't as dismal as it might have originally sounded. Just looking for an alternative. My only debt is the $200 a month car payment. No house payment, no student loans, no credit card debt. I'm a tight wad too and refuse to put myself or family in a binding situation.

Like I said I can understand cobraracer but don't think his post applies to me or my situation.

PS. If you had $11K cash to outright buy a car for you, your wife, 2 year old and dog what would you get? Just interested
 

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Posted by MINGRYGT (Member # 2439) on :
 

quote:

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Originally posted by cobraracer46:
You know what MINGRYGT, I always have fun discussing financing with you. By the way, I always wonder how car dealer finance guys can sleep at night after ripping people off all day long. Case In point: right now, one dealer in San Jose is offering a 97 Ranger for "only" 1000 down and $199 a month for 48 months. In that case the dealer got bought the ranger for close to the down payment price, so all the payments made on it are gravy for the dealer.

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quote:

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Originally posted by Jdub07:
I can see what he's saying to a point. If had vehicle debt that was extreem along with credit cards and such. My payments are $200 a month at 4% interest. I feel its a pretty good rate. I bought the car for 3k less than KBB all before gas prices went so high (Katrina). Can't for-see something like that.

Can I afford the gas and payments? Yes. Do I want to pay the gas prices? Nope. My situation isn't as dismal as it might have originally sounded. Just looking for an alternative. My only debt is the $200 a month car payment. No house payment, no student loans, no credit card debt. I'm a tight wad too and refuse to put myself or family in a binding situation.

Like I said I can understand cobraracer but don't think his post applies to me or my situation.

PS. If you had $11K cash to outright buy a car for you, your wife, 2 year old and dog what would you get? Just interested

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quote:

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Originally posted by 5.0-srt-4:
bro its fucking business mingry is in it for money man and if you have bad credit you are a high risk to fuck up and not pay thats where the high intrest rates come in a bank shouldnt reward a person with fucked up credit a low apr its common sence you guys dont need to use these fucking high tech car terms to make it simple mingry isnt a rip off artist from what i know hes in the car bus..

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quote:

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Originally posted by 5.0-srt-4:
bro its fucking business mingry is in it for money man and if you have bad credit you are a high risk to fuck up and not pay thats where the high intrest rates come in a bank shouldnt reward a person with fucked up credit a low apr its common sence you guys dont need to use these fucking high tech car terms to make it simple mingry isnt a rip off artist from what i know hes in the car bus..

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quote:

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Originally posted by cobraracer46:

quote:

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Originally posted by 5.0-srt-4:
bro its fucking business mingry is in it for money man and if you have bad credit you are a high risk to fuck up and not pay thats where the high intrest rates come in a bank shouldnt reward a person with fucked up credit a low apr its common sence you guys dont need to use these fucking high tech car terms to make it simple mingry isnt a rip off artist from what i know hes in the car bus..

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Once again, you need to look at the big picture. some one who has had a car repoed does not need to "reestablish" credit like the snake credit specialists at the car dealer always say they should. what they need to do is start budgeting their income, save and quit buying shit they cannot afford. If you need to make a payment a car, guess what, you cant afford it.

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May I ask your age and what exactly your credit score at this current time is Mr. Pay Outright Cash? I would also like to know what vehicle you currently have that relates to this message board please.
 

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Posted by putter (Member # 4253) on :
 
Hey cobra? Do you own your home free and clear? I hope your not making payments on that!!!?? Also this is a better way to help cobra understand the dealerships role in financing (moron terms) You dont borrow a vehicle from the dealership and make payments on that instead you borrow from a bank of your choice, if you like the dealership will arrange your loan with a bank. You pay interest on the money you borrowed and not the car the collateral is the car so if you default the bank takes car. Oh and by the way! Can i borrow $10,000 and not pay you interest? Lastly if a dealer was offering interest free loans why would you pay cash lol keep the money invest it then pay off?

P.S. Not everyone has had credit problems like you. The world revolves on credit. Did you lose everything in the B.K.?

Sorry I wasnt helping earlier mineral gray us snakes need to stick together. Poor guy went credit crazy lol.

[ October 28, 2005, 03:09 PM: Message edited by: putter ]
 

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Posted by Jdub07 (Member # 2728) on :
 
Sorry my thread turned into somewhat of a credit this and cash that mess.

I'll post photos of our new 'used' car once we get it (sorry it wont be a ford of any kind),

First I'm going to make a stop over at mingrygt's lot and take a look around maybe he can hook me up with something nice if I pay all cash.

Which brings me to this question...do auto dealers like to see a big wad of cash for a car over any other means of payment or is this myth?
 

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Posted by putter (Member # 4253) on :
 
It does not make a difference. I just explained how it works we get our lump some in a few days from the lender that finances you. Its a little more work setting up financing but not a lot. Either way the dealer gets cash. This is blunt not intended to be rude.
 

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Posted by Jdub07 (Member # 2728) on :
 

quote:

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Originally posted by putter:
It does not make a difference. I just explained how it works we get our lump some in a few days from the lender that finances you. Its a little more work setting up financing but not a lot. Either way the dealer gets cash. This is blunt not intended to be rude.

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You weren't rude
 

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Posted by cobraracer46 (Member # 1142) on :
 

quote:

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Originally posted by outlawd94cobra:
May I ask your age and what exactly your credit score at this current time is Mr. Pay Outright Cash? I would also like to know what vehicle you currently have that relates to this message board please. [/QB]

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To answer your questions, I don't care what my FICO score is Since a FICO score is based only on how much debt one has, the payment history on has on debt and the number of credit accounts such as credit cards, car notes, ETC, that one has balances on. now, if you love debt and like the concept of making payments to get things for the rest of your life, you will have a high FICO score. Basically, the Fico score is the "I love debt score". I also believe that a high FICO score is a sign of stupidity because it does NOT measure how many investments you have, the size of your savings account or your net worth. As for what type of car I drive, I actually ride a bicycle more than than I drive, however, I do own a 2001 Cobra that is paid in full gathering dust in my garage.
 

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Posted by cobraracer46 (Member # 1142) on :
 

quote:

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Originally posted by putter:
if a dealer was offering interest free loans why would you pay cash lol keep the money invest it then pay off?
The world revolves on credit.

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Wow, You are full shit. Same as as cash and interest free auto loans are not free if you think long term. Example, Lets say some one who thinks like a child and has a hard on for a new car walks in the snake pit finance dept. and drives off in a new $35000 mustang GT, they will not pay interest charges, but they will get their ass kicked financially because that GT that was financed for 0% interest for 5 years will loose over $18000 in value in the first 4 years of ownership! $18000! There is nothing free about that. So no, it based on depreciation alone, it would be stupid to take out a auto loan, especially an interest free one. Sadly, most people go out and finance another new car once the other one is paid for, so instead of building investments and savings, they choose instead to build credit just to have a life time of eternal payments instead of financial independence. As for the world revolving around credit, yes, credit revolves around the lives of companies that file for bankruptcy and broke people.
 

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Posted by putter (Member # 4253) on :
 
LMAO! Please explain the difference in depriation wheather you pay cash or finance? Your cobra is losing the same amount of money paid for or not correct. You could have got 0% interest on that $35000 made payments and invested your money during the finance term. Im gonna call it how it is plain and simple YOU ARE A MORON! I swear you are. Youre not smart with money feller, no your not.

I cant get over it!! This guy just said it was stupid to borrow money for FREE. You need to be a financial advisor youre super smart with money.

Oh and to clarify what a fico score is. It is a risk score not a score you biuld. If you opened 10 credit card accounts and never used them your risk score would be good. Unfortinatly for cobra he was too smart to pay people money back that he borrowed so his went down.

[ October 29, 2005, 12:31 PM: Message edited by: putter ]
 

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