[powrbomb]

Good morning All!

I am not very experienced in dealing with vehicle purchases in general. I am needing advice on an issue that came up with my future Camaro purchase.

Yesterday I was speaking with the salesperson that got my order started and off hand we mentioned financing. I planned to finance through USAA (they have killer interest rates!) and told him this. He then informs me that the dealership would only do financing through them for this Camaro order. When I made the order, I didn't receive in writing or sign anything confirming how financing would need to be done. I know I spoke with the salesperson before about financing using USAA and I was not told at that time that not financing with the dealership would be an issue. Again, nothing in writing though.

I haven't had a dealer decline to take my loan through USAA before, so I am needing advice on how best to deal with it or if anyone here has any experience in dealing with situations like this.

I am thinking about bringing a pre-approved loan from USAA a couple of week before delivery and having the salesperson/sales manager provide me in writing the reason why they cannot accept it (thinking that it would be harder to deny an approved loan sitting in the dealership ready to go!)

Any help is appreciated! Thanks!

[Stingr69]

Who is your dealer?

[vinman]

My dealer strongly suggested to give the dealership the bone for financing the loan, so I went with it for a month and then refinanced through my credit union still as a new vehicle and they could then compete with the finance company's interest, so I ended up with 1% less through my bank

[powrbomb]

Originally Posted by Stingr69

Who is your dealer?

Small freaking world, Hey Mark! It's Jason, as I'm sure you figured!

Russell Chevrolet. I've been working with Jim Russell.

[powrbomb]

Originally Posted by vinman

My dealer strongly suggested to give the dealership the bone for financing the loan, so I went with it for a month and then refinanced through my credit union still as a new vehicle and they could then compete with the finance company's interest, so I ended up with 1% less through my bank

I thought about that too. I guess I just need to figure out if there is a early payment fee or something if I finance through them. If there isn't, I likely could do the same and get a much better deal.

Thanks for your insight!

[Stingr69]

Vinman is right.

The order is not in your name so they might not sell it to you.

[h422694]

I've purchased 2 new Chevys and a new Toyota from 2 Hendricks dealerships and have a deposit on a Z06. Didn't even discuss financing when I ordered the Chevys. When I completed paperwork on the Chevys I told them where and how I was handling the purchase. Wrote a check for 1 and a 6 month loan on other one. Already pre approved at BOA. No issues
Toyota was on the lot and we went back and fourth on price. Finally agreed to price and I said I would only consider 2 local banks and GMAC. When I went in to complete purchase the finance guy had changed previous agreement and price was about 1250 higher and using GMAC. He had also run credit checks at 5 finance agencies. I had copies of purchase signed by general manager so he had to use the original price. He said I had to use GMAC to get that price but I was pissed because he ran my credit so many times. I wrote him a check for the original agreed upon price. I though he was going to cry since I wouldn't use GMAC and he wouldn't get his kick back on the financing./

[Mr_Draco]

Originally Posted by powrbomb

Good morning All!

I am not very experienced in dealing with vehicle purchases in general. I am needing advice on an issue that came up with my future Camaro purchase.

Yesterday I was speaking with the salesperson that got my order started and off hand we mentioned financing. I planned to finance through USAA (they have killer interest rates!) and told him this. He then informs me that the dealership would only do financing through them for this Camaro order. When I made the order, I didn't receive in writing or sign anything confirming how financing would need to be done. I know I spoke with the salesperson before about financing using USAA and I was not told at that time that not financing with the dealership would be an issue. Again, nothing in writing though.

I haven't had a dealer decline to take my loan through USAA before, so I am needing advice on how best to deal with it or if anyone here has any experience in dealing with situations like this.

I am thinking about bringing a pre-approved loan from USAA a couple of week before delivery and having the salesperson/sales manager provide me in writing the reason why they cannot accept it (thinking that it would be harder to deny an approved loan sitting in the dealership ready to go!)

Any help is appreciated! Thanks!

Find a different dealer, or at least threaten to anyway.

The dealer is being greedy and is wanting the kickback from the finance company. Tell them they either take your loan through USAA or you walk, wouldn't even bother doing the pre-approved bit. Right now is a hard time for dealers. They won't take the loss of a guaranteed sale easily.

[ZED SLED]

What vinman said

My dealer gave me a bigger discount if would finance thru them. I did, then refinanced with my CU a month later. You sure they didn't actually say that you have to finance thru them for this price?

[Royal Tiger]

When we ordered her Mini JCW Clubman last year we actually got better financing through BMW then even our credit union could match (1.9) but yeah they are looking for kickbacks.

[Stingr69]

GM has zero percent financing available for 48 months. Hard to beat that deal.

[JKSully]

Rather than typing it out again, I'll just post a link to a previous post I made on this subject.

https://www.camaro6.com/forums/showp...5&postcount=18

[powrbomb]

Originally Posted by Stingr69

Vinman is right.

The order is not in your name so they might not sell it to you.

I called the dealership yesterday and put a deposit on the Camaro. Sales guy said he thought I already had a deposit down. Sounded shady, but I will have to see. I also got a copy of the order details from the dealership and it has me specifically listed as the customer. So I am proceeding with caution at this point (which I guess should be the default approach! )

[powrbomb]

Originally Posted by ZED SLED

What vinman said

My dealer gave me a bigger discount if would finance thru them. I did, then refinanced with my CU a month later. You sure they didn't actually say that you have to finance thru them for this price?

When I spoke with them yesterday, they were talking about it like I had to finance with them to get the Camaro at MSRP. From what I understand though, there is no early payment penalties or fees, so I can and likely will refinance afterwards.