Finance department at a Dealership?

[pervis]

Cheapest financing i can find for any vehicle is thru Arkansas federal credit union. I just refied my truck 18 f250. 2.00% 48 months

[Mike D]

BAM! Other than go to your credit union and your dealer won’t be able to beat it.

Credit union isn’t always the lowest. My bank ended up being lower than my credit union and the dealer financing.


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[Tony Gutierrez]

Z7buckmaster gives solid advice.
What's your question and we can get a solid answer out here?

Side Note: I have been in the dealer for close to 8 years now and I buy the warranties. It's insurance, on most likely the 2nd most expensive purchase of your life. Why would you not have a insurance/warranty on it?

[Rubi513]

Side Note: I have been in the dealer for close to 8 years now and I buy the warranties. It's insurance, on most likely the 2nd most expensive purchase of your life. Why would you not have a insurance/warranty on it?

Because the chance of you having a repair costing more than the warranty is slim.

[Burnadell]

Z7buckmaster gives solid advice.
What's your question and we can get a solid answer out here?

Side Note: I have been in the dealer for close to 8 years now and I buy the warranties. It's insurance, on most likely the 2nd most expensive purchase of your life. Why would you not have a insurance/warranty on it?

Because the manufacturer provides a warranty?

[sticknstring]

That's a bit backwards from what I have been taught. The banks do the financing for the dealer ships and the dealerships add some percentage points to what the bank will do the financing for. The dealers will seemingly drop the price of the vehicle low, but they are adding it back on in the financing.

The only time I got a good deal, from a dealership. Was when I went and talked to the family banker first, then went to the dealership and did not let them know I had financing lined up. The dealer came up with a nice low price, thinking the financing was going through them, I did not tell them otherwise, I did not tell them anything on the financing. I let them believe I was the typical clueless customer. Got them to agree to a low price, then went to the bank with that number, the bank called the dealer for the VIN and other info, to wire them the money. The dealer, then tried to back out of the deal. They tried all types of ways to get out of the deal. The bank got all the info they needed and wired them the money. First time I have ever walked in a dealer and not had sales people running to greet me. They would not come out and talk to me. They had a secretary bring me my keys, when I walked back in the dealer to pick up my truck.

X2- I did this exact same thing. Bought a truck out of state over the phone. Spent $100 one way flight to Utah. Dealership picked me up at the airport. Test drove the truck to confirm all was good. Haggled the dealer to give me a full tank of diesel. Walked into finance and handed them a check from my bank. It got real quiet till I left!

[Johnny Dangerr]

My extended warranty has spent 5K keeping my car rolling. Buy the warranty. You will get the money back..................

[cwd500]

I bought a f150 back in may. My wife works for a credit union and gets a discount on interest rates. Ford credit had some good incentives, so we financed through ford credit for 5.9%. as soon as we got the loan documents we refinanced with the credit union for 2%. The finance guy was awesome. When we walked into his office, he look at my wife and said " I see you work for a credit union, are y'all refinancing?" Then he told us if we want an extended warranty it would be better to get that through the credit union. We were in and out of his office in about 5 minutes.

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[DedDuk]

Never understood the no extended warranty crowd. I buy it on all vehicles. I use it most of the time.

[Acameron52]

Put me in the “no extended warranty crowd”. I always get pre approved through my credit union before going in. If they can’t beat it by a full point I don’t use their financing. So far I’ve Only used the dealers financing one time and it was a cluster. Last truck I bought came from Frank Kent in Corsicana. Without a doubt the easiest truck buying experience I’ve ever had. I would HIGHLY recommend.

[Blitz]

Nobody likes to spend money on something they may or may not use. That's like saying I don't need a generator here in Houston. Then, as soon as a category 3 hurricane starts rolling into the gulf, those generators become a scarce commodity.

When I purchased my 2017 Tundra, I listened to all the add-ons the dealer was offering. I didn't say yes to them all. I did go ahead and get the extended warranty (100,000 mile). Sure, it was money out of my pocket, just like anything. Sure, I could have avoided it and took my chances. But that's exactly what it is. Risk. Everyone has to assess their own risk/reward. Is it cheaper to buy the warranty and not worry? Or perhaps your in a much better financial situation and can afford to decline that option knowing if something happens, you can pay the money to get it fixed without putting yourself in a bind.

There is never a right or wrong answer with this. Everyone's situation will be different and you just have to decide for yourself what's best for you.

[Burnadell]

My extended warranty has spent 5K keeping my car rolling. Buy the warranty. You will get the money back..................

Details, Johnny. What did the extended warranty pay that the new car manufaturer's warranty not cover?

Never understood the no extended warranty crowd. I buy it on all vehicles. I use it most of the time.

Why would you pay for an extended warranty at the time of the vehicle purchase...when the extended warranty won't even take effect until after the mfg warranty expires? Why pay in advance? You may not even own that vehicle when the extended warranty becomes effective, or you may be dead and not need it.

When I purchased my 2017 Tundra, I listened to all the add-ons the dealer was offering. I didn't say yes to them all. I did go ahead and get the extended warranty (100,000 mile). Sure, it was money out of my pocket, just like anything. Sure, I could have avoided it and took my chances. But that's exactly what it is. Risk. Everyone has to assess their own risk/reward. Is it cheaper to buy the warranty and not worry? Or perhaps your in a much better financial situation and can afford to decline that option knowing if something happens, you can pay the money to get it fixed without putting yourself in a bind.
.

Why wouldn't you wait until the mfg warranty was getting ready to expire before buyng an extended warranty? Why pay for something that is already covered?

[Blitz]

Details, Johnny. What did the extended warranty pay that the new car manufaturer's warranty not cover?




Why would you pay for an extended warranty at the time of the vehicle purchase...when the extended warranty won't even take effect until after the mfg warranty expires? Why pay in advance? You may not even own that vehicle when the extended warranty becomes effective, or you may be dead and not need it.




Why wouldn't you wait until the mfg warranty was getting ready to expire before buyng an extended warranty? Why pay for something that is already covered?

I can actually answer that question. I can build the extended warranty into the financing instead of paying later. This is a personal decision which doesn’t apply to everyone. Some will choose to do just as you have suggested. I chose to purchase immediately for financial reasons.

[Mike D]

My extended warranty has spent 5K keeping my car rolling. Buy the warranty. You will get the money back..................

Not typically. Sounds like you bought a possible lemon.


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[Mike D]

Finance department at a Dealership?

Never understood the no extended warranty crowd. I buy it on all vehicles. I use it most of the time.

I’ve owned a lot of vehicles and I’ve only used an extended warranty one time.

I’m of the opinion most vehicles these days are relatively trouble free and I typically buy vehicles with a proven reliability record. I’m not married to any manufacturer and I keep them a long time.

The only way I would consider an extended warranty would be if it came with the stipulation that if I didn’t use it, I would get my money back in full.


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