djcadillac

I was supposed to go pickup my Z from a dealership this Saturday. I already had my own financing approved and ready to seal the deal. The dealership contacts me and says they have to finance me through their dealership and is now refusing to take my money?? Wtf. I have refused to run another credit report and am adamant on using my own financing. It looks like there will be no car, which highly upsets me.

Is it even legal for them to demand financing through their dealership? I have never heard of such nonsense.

SuperchargedStroker

Cash or check from another bank is money..
I cant imagine how they can force you to use their bank.. I mean unless the interest rate is fantastic and you get something out of it, sounds like BS.
Hell, I'd call a lawyer anyway on that one if you want it that bad..

djcadillac

I cant see how they can force me to run my financing through them either. I have thought about calling a lawyer but is it really worth the hassle? Its the end of summer here and I can wait till next if I really have to. I feel this is total BS even when Bank of America called them directly today and they refused Bank of America. I was curious if anyone else ever ran into this issue.

z51vett

They get a kick back on the financing more profit that's all it is money grab.
z51vett
Doug

TT32VGT

lol, they just want to make the extra money.. tell them so long you lost my business and go to another dealership.. thats bs

Mark2009

Odd predicament. I'd be curious to know if this is a mainline dealer (like GM, for example) or some private lot. In any case, offhand I'd say to contact your state attorney general office via telephone... if they can't offer any info, they can probably direct you to the state or local agency that can. The dealer may be running a scam (folklore is that they get a kickback on in-house or dealer-referred financing) which may be illegal.

Many years ago I had trouble with a car insurance outfit, the state insurance commissioner's office straightened them out real quick. Some times the gov't can help (especially if it is a regulated business).

djcadillac

This is from a very high end porsche dealer in Pennsylvania. The Bank told me they have ran into this issue before and its very rare. The only way they would allow me to use my financing is to bring in the check and wait up to 3 weeks for it to clear. It is such bs!

TheDingo

If you can wait until next year, surely you can wait 3 weeks if you want it bad enough.

djcadillac

Its just the principle of it all. This financial schmuck wants his cut and knows I want the car. I am impatient as it is and expect the car when I go to pay. I do not want to wait another 3 weeks for no reason. He is just doing this so I will go through with his financing because he knows I want the car, and also to get his money.

I know he is full of **** and I am not going to give him his way even if I want the car badly! There will always be another. In the end, its just a car. I would rather walk away with my pride than give this schmuck a nickel!

wolf8218

Walk.

VetteVinnie

Walk away. Seriously. That's B.S. I'd report them to the BBB.

djcadillac

I have told them, this deal is on my terms or we have no deal. Looks like I will be walking. I will know for sure tomorrow.

Mark2009

There are federal laws against kiting checks (holding them for excessive clear periods), but there are some loopholes (depending on amount, IIRC). I'd still run it by your state attorney general. In situations like this, even if the deal is dead I still try to inflict discomfort upon the offending party. Phone calls from the state enforcement officials generally inflict discomfort upon used car dealers.

Mark2009

Forget the BBB... get a state regulatory agency interested in them. That is much more of a colonoscopy experience

BadboyZ06

I would just tell them you're going somewhere else if they want to play that game.

30YR W8T

Tell them you will finance through them if they have zero percent financing for however long you planned to finance.

Gary '09 C6

...or tell them you'll finance through them if they reduce the price of the deal by the total extra finance costs you would incur...

MTPZ06

Bounce...high end dealer my a**. They're shady just like the rest of them. Three weeks for a cashiers check to clear? Ridiculous. Go find another car...they're out there. You just need to be patient. I've never seen a car that I can't live without...

LT5 John

Tell them to pound it and walk...

djcadillac

I'm cool with walking. However, it was a long time before I found this car. There are not many for sale in my area. I do not like buying without being able to physically see and drive the car. Seems like I have no choice but to hold my ground, which I have. Problem is, the search continues.