Why so long at dealerships (2012, van, buying, Chevy)
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Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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The last car (late 2015) took about an hour, including a fairly long test drive, no trade, $3,000 under sticker. The one before that (2014) took less than an hour, again including test drive, paid $5,000 under sticker, and got a fair amount for the trade. The worst was in late 2001 when I bought a 2002. I was paying cash and made my offer as "out the door." It took over an hour and a half for the sales manager to agree to my amount, but then adding tax and license. I explained to the salesman what "out the door" meant, and spent another hour there. At one point I walked away and headed for my old car and he chased after me. Eventually I got my price but it was after 10pm, and they closed at 9. That time was all in negotiation, no credit involved. When the credit process takes a long time it's usually because they are dying to sell you a car, but having trouble finding a lender that will accept the loan on the terms offered. We got our last one with a loan through our credit union, and when submitted by the dealer's finance guy online it was approved within (literally) seconds.
I think the OP's issue was he is a bad credit risk and they had to shop him around to find someone willing to finance him so they needed time to put it all together.
I think the OP's issue was he is a bad credit risk and they had to shop him around to find someone willing to finance him so they needed time to put it all together.
OP added something about the bank told him 8% and the dealership got him 4.2%. So, it wasn't anything about bad credit (said his wife had little or no credit), just wanted to keep him there to make him sweat.
OP added something about the bank told him 8% and the dealership got him 4.2%. So, it wasn't anything about bad credit (said his wife had little or no credit), just wanted to keep him there to make him sweat.
Neither 8% nor 4.2% is a rate that is given to someone with good credit. Good credit will get you between 0% and 2.9%. The OP also stated that his credit wasn't great and that he needed a cosigner.
This is another reason I do not buy new cars. Always it takes forever. Also takes forever just to drop a car off for service. Their endless forms and slow computer stuff is agonizing. My brother was working on a new system for one of the big companies to try to speed up the process. He said the stuff they were using wass decades out of date.
With all the bs, about 4 hours to drive off.
That was my wifes and I first car(bought new because we needed one asap and needed to finance)
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Any future cars are bought cash and used, via extensive internet research.
I negotiate and reach an agreed to price before I go to the dealership (done via email, and maybe a call or two). I also tell dealer I'll be in at a specific time to take a look a the car and that I would like to have paperwork ready before I come in. I am usually there no more than an hour. If you let dealership take advantage of you, they will.
I think the OP's issue was he is a bad credit risk and they had to shop him around to find someone willing to finance him so they needed time to put it all together.
Thank you.
Apparently some do not read your posting.
Someone needs to save up money and pay cash for something that he/she can afford.
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