No factory warranty when paying cash?? Seriously - Page 3

RealG · 04-09-2019, 05:10 PM

The only thing that scares me more than a dealer spreading fake news is how many people believe them or aren’t sure. I understand why the dealer is saying that and most who can pay cash know better.
That’s all the fake news spreaders know is say what ever it takes and rely on everybody being stupid like themselves.

Need4Camaro · 04-09-2019, 05:14 PM

Yeah thats ridiculous. By law a new car regardless of how you buy it comes from the factory with a warranty, the dealer has NOTHING to do with that... its a MANUFACTURER warranty...and trust me...the dealer would have still tried to sell you an extended warranty...they always push that.

hammdo · 04-09-2019, 05:54 PM

I would assume Becky (@JamesMartin) would be able to get anyone a new car at the best price — at least I see ALOT of folks here get theirs from her...

Maybe ask her first? Sponsor and has a vested interest in having an excellent reputation...

Just a thought...

-Don

Glen e · 04-09-2019, 06:08 PM

I really doubt that a dealer said that, maybe an idiot sales guy, but not the mgmt of the dealership. Ask the gen sales mgr to repeat that to you.

Shrwud96 · 04-09-2019, 06:26 PM

Problem solved... Full factory warranty from a different dealer. Pick up my brand new '19 ZL1 on Saturday!!

mstgeer · 04-09-2019, 06:29 PM

Another way to get payback to a dishonest dealer is play along with their game to get the best deal using their financing, then pay off the loan immediately after leaving the lot. Most of their lenders will backcharge them their cut of the financing fee.

protovack · 04-09-2019, 06:49 PM

Print this thread and hand it to the manager.

Tell them if they don't reprimand that finance person you'll never use them again and you'll make sure none of us do either.

TJay74 · 04-09-2019, 07:46 PM

Quote:

Originally Posted by mstgeer

Another way to get payback to a dishonest dealer is play along with their game to get the best deal using their financing, then pay off the loan immediately after leaving the lot. Most of their lenders will backcharge them their cut of the financing fee.

yep I have done that to several dealers. Give me a fair deal and no BS and I might be OK with your financing, play games and I will finance and refi 2 weeks later and pay the loan off.

Need4Camaro · 04-09-2019, 07:54 PM

Quote:

Originally Posted by mstgeer

Another way to get payback to a dishonest dealer is play along with their game to get the best deal using their financing, then pay off the loan immediately after leaving the lot. Most of their lenders will backcharge them their cut of the financing fee.

Quote:

Originally Posted by TJay74

yep I have done that to several dealers. Give me a fair deal and no BS and I might be OK with your financing, play games and I will finance and refi 2 weeks later and pay the loan off.

Can you explain how that works and why it hurts the dealer? What is considered their cut of the financing fee if you pay off early and why are they responsible for it if you pay off early?

Zack46 · 04-09-2019, 07:55 PM

Quote:

Originally Posted by Silver2ssA8

I paid cash and have a factory warranty, and they still offered the extended warranty

mstgeer · 04-09-2019, 08:51 PM

[QUOTE=Need4Camaro;10485697]Can you explain how that works and why it hurts the dealer? What is considered their cut of the financing fee if you pay off early and why are they responsible for it if you pay off early?[/QUOTE

Most dealers receive a kickback (usually .9% to 2% compounded annually) from the lenders for promoting their financing services and will generally use that hidden income to manipulate the values to show you a better deal, knowing 99% buyers take their loans to term.
If the buyer pays off the loan early (time frames vary by lender) the dealer gets backcharged their kickback, taking a hit to their projected profit on the sale.

TJay74 · 04-09-2019, 08:52 PM

Quote:

Originally Posted by Need4Camaro

Can you explain how that works and why it hurts the dealer? What is considered their cut of the financing fee if you pay off early and why are they responsible for it if you pay off early?

The dealer finance dept makes their money on the back end from the banks that secure the loan. There are requirements, typically one of them is the buyer has to keep the loan for "X" months in order for the dealer to make their back end money.

The dealer I bought my 1LE was great, the finance guy was a douchebag. I bought thru them and the refi'd the car 2 weeks later with my bank at an even better rate.

SnakeEyeSS · 04-09-2019, 10:28 PM

I had a mazda dealer tell me about a better rebate if I financed with them, and I asked how long to pay it off for everyone to be happy. He said 6 months. So I did just that to reward them, I only paid $42 in interest but got an extra 500 off. 7 months later when I decided to replace another car I was treated VERY well.

I told my Camaro dealer about that, asking if I could get a bigger discount, and they seemed suprised I would even ask(salesman was bewildered and concerned), and politely said no, that isn't happening. I guess some don't realize you can learned about anything whenever you want?

redone000 · 04-09-2019, 11:15 PM

Quote:

Originally Posted by SSJ455

Walk away. The dealer is ****ing liar. I'd contact GM and tell them that one of their authorized dealers is trying to scam you. Call the BBB as well.

Plus 1

04-09-2019, 05:54 PM	#31
hammdo 'It's an experiment' Drives: [COTW 2/09/15] '11 GPI LSA SC Z/LE Join Date: May 2014 Location: Dallas TX Posts: 8,690 View My Garage	I would assume Becky (@JamesMartin) would be able to get anyone a new car at the best price — at least I see ALOT of folks here get theirs from her... Maybe ask her first? Sponsor and has a vested interest in having an excellent reputation... Just a thought... -Don __________________ 747 RWHP 794 RWTQ "Horsepower sells cars, torque wins races." - Enzo Ferrari See My Build: http://www.camaro5.com/forums/showthread.php?t=385577

04-09-2019, 06:08 PM	#32
Glen e Retired from Car mfrs.... Drives: 2LT RS/HR-V Join Date: May 2013 Location: /Fort Lauderdale Posts: 10,048	I really doubt that a dealer said that, maybe an idiot sales guy, but not the mgmt of the dealership. Ask the gen sales mgr to repeat that to you. __________________ Glen CLICK HERE for detailing a new car: detailing for non detailers CLICK HERE for how to rinseless CLICK HERE for EASY wheel sealant

04-09-2019, 10:28 PM	#41
SnakeEyeSS Drives: Camaro 2SS & ZL1 Join Date: Mar 2018 Location: Oklahoma Posts: 856	I had a mazda dealer tell me about a better rebate if I financed with them, and I asked how long to pay it off for everyone to be happy. He said 6 months. So I did just that to reward them, I only paid $42 in interest but got an extra 500 off. 7 months later when I decided to replace another car I was treated VERY well. I told my Camaro dealer about that, asking if I could get a bigger discount, and they seemed suprised I would even ask(salesman was bewildered and concerned), and politely said no, that isn't happening. I guess some don't realize you can learned about anything whenever you want? __________________ 2017 Camaro 2SS A8 Bright Yellow NPP MRC 2023 Camaro ZL1 A10 Radiant Red

04-09-2019, 05:10 PM	#29
RealG Drives: 2024 2SS Join Date: Dec 2013 Location: SoCal Posts: 602	The only thing that scares me more than a dealer spreading fake news is how many people believe them or aren’t sure. I understand why the dealer is saying that and most who can pay cash know better. That’s all the fake news spreaders know is say what ever it takes and rely on everybody being stupid like themselves.

04-09-2019, 05:14 PM	#30
Need4Camaro Drives: '17 Camaro 2SS & '99 Camaro Z28 Join Date: Feb 2014 Location: Austin, TX Posts: 1,836	Yeah thats ridiculous. By law a new car regardless of how you buy it comes from the factory with a warranty, the dealer has NOTHING to do with that... its a MANUFACTURER warranty...and trust me...the dealer would have still tried to sell you an extended warranty...they always push that.

04-09-2019, 06:26 PM	#33
Shrwud96 Drives: 2019 ZL1 A10 Hot Red Join Date: Sep 2016 Location: Goshen, IN Posts: 16	Problem solved... Full factory warranty from a different dealer. Pick up my brand new '19 ZL1 on Saturday!!

04-09-2019, 06:29 PM	#34
mstgeer Drives: '17 2SS Vert H50, A8, F55, NPP Join Date: Jan 2018 Location: NW PA Posts: 179	Another way to get payback to a dishonest dealer is play along with their game to get the best deal using their financing, then pay off the loan immediately after leaving the lot. Most of their lenders will backcharge them their cut of the financing fee.

04-09-2019, 06:49 PM	#35
protovack Drives: 2019 2LT 2.0T M6 Riverside Blue Join Date: Jan 2018 Location: WA Posts: 847	Print this thread and hand it to the manager. Tell them if they don't reprimand that finance person you'll never use them again and you'll make sure none of us do either.

04-09-2019, 08:51 PM	#39
mstgeer Drives: '17 2SS Vert H50, A8, F55, NPP Join Date: Jan 2018 Location: NW PA Posts: 179	[QUOTE=Need4Camaro;10485697]Can you explain how that works and why it hurts the dealer? What is considered their cut of the financing fee if you pay off early and why are they responsible for it if you pay off early?[/QUOTE Most dealers receive a kickback (usually .9% to 2% compounded annually) from the lenders for promoting their financing services and will generally use that hidden income to manipulate the values to show you a better deal, knowing 99% buyers take their loans to term. If the buyer pays off the loan early (time frames vary by lender) the dealer gets backcharged their kickback, taking a hit to their projected profit on the sale.

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