ordered 07 vette
Thread Starter
Instructor
Joined: Mar 2007
Posts: 224
Likes: 0
From: Seaford NY
ordered 07 vette
I ordered a 2007 base vette for $39,000.Left a $1,000 deposit.Total out the door was $42,250.Any thing I should be cautious about?Must use there financing.msrp was $45,000.
Racer
Joined: Apr 2007
Posts: 279
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Racer
Joined: Jan 2007
Posts: 317
Likes: 74
From: St Pete Beach FL
The "must use thier financing" scares me a little. Make sure you know what the interest rate should be before you sign.....Some dealers have high rates, then tell you you have to buy life insurance etc for the loan. Good way to make extra bucks at your expense.
I've never had a dealer say I must use thier finance, and only will if they match the right rate.
I've never had a dealer say I must use thier finance, and only will if they match the right rate.
Thread Starter
Instructor
Joined: Mar 2007
Posts: 224
Likes: 0
From: Seaford NY
To get that price I can't pay cash I have to use there financing.Thanks for help I am just not a trusting person and this was the best price I could find I am just worried that there might be a catch to it.
Team Owner
Joined: Jun 2005
Posts: 46,295
Likes: 2,596
From: Northern, VA
St. Jude Donor '15
"In honor of jpee"
The "must use thier financing" scares me a little. Make sure you know what the interest rate should be before you sign.....Some dealers have high rates, then tell you you have to buy life insurance etc for the loan. Good way to make extra bucks at your expense.
I've never had a dealer say I must use thier finance, and only will if they match the right rate.
I've never had a dealer say I must use thier finance, and only will if they match the right rate.
To op, ck very carefully over the "financing documents" as one poster has said. If you don't understand everything, bring someone with you who is familiar with these docs. You have no idea what it might contain.
Racer
Joined: Jan 2007
Posts: 317
Likes: 74
From: St Pete Beach FL
I think you just confirmed the catch....thier financing. They may make a little, and still leave you with a good deal, or thye could be after allot. As mentioned, make sure you know what the rate SHOULD be, and if they are much higher (or add a bunch of mandatory fees), walk. Did you look at forum dealer pricing, they are about as good as it gets. I ordered through Kerbecks, and they did change the price after the fact.....they gave me a credit for overestimated fees! Cash back from an honest dealer 
Drifting
Joined: Jul 2005
Posts: 1,274
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From: Los Angeles California
St. Jude Donor '06-'08
Congrats!!! I had a simular deal on another manufacturer. Had to be their financing. I had a pre approved loan from my Credit Union and they agreed to pay off the dealers financing saving me lots of dollars in finance costs. Good Luck!!!
on your deal.
Burning Brakes
Joined: Jun 2006
Posts: 952
Likes: 1
From: Huntley IL
The best my dealer could do was 7.25% (6 yrs), they tried to match my credit union and couldn't. I don't think it's legal for a dealer to force you to take their financing. I would demand a competitive rate or walk....
Instructor
Joined: Oct 2006
Posts: 120
Likes: 0
From: Westland MI
Be careful about doing this. Some finance contracts (especially when the dealer forces you to use there financing) may charge you a early payoff fee. I have seen in some finance contracts that you must wait atleast 2 years before you can pay it off. Just my 2 cents.