# General advice and discussion thread
**URL:** https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002
**Category:** Vendor Marketplace
**Created:** [June 4, 2013, 7:27am UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002 "2013-06-04T07:27:08Z")
**Posts on this page:** 20
**Page:** 2
### Author:  [@LZ1](https://forums.speedlife.net/u/LZ1)
#### Post date: [August 9, 2013, 12:59pm UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/21 "2013-08-09T12:59:03Z")
lol just ended up on the Basil black list.
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### Author:  [@9c1ny](https://forums.speedlife.net/u/9c1ny)
#### Post date: [August 10, 2013, 10:08pm UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/22 "2013-08-10T22:08:24Z")
local dealer tossed me the keys to a 2011 GT500 and said have at it, I was fairly responsible with it, no smoked tires but I did put it sideways at 75mph or so
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### Author:  [@TORQDSS](https://forums.speedlife.net/u/TORQDSS)
#### Post date: [August 11, 2013, 3:31pm UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/23 "2013-08-11T15:31:31Z")
Our insurance company would be freaking out if they read this thread lol.
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### Author:  [@robftw](https://forums.speedlife.net/u/robftw)
#### Post date: [August 11, 2013, 8:02pm UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/24 "2013-08-11T20:02:39Z")
Does cash really talk? Would you be more willing to sell a car for say 10 or 15% under msrp if the buyer paid in cash vs bank loans?
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### Author:  [@captain\_morgan1](https://forums.speedlife.net/u/captain_morgan1)
#### Post date: [August 11, 2013, 8:46pm UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/25 "2013-08-11T20:46:31Z")
Actually we prefer that you finance
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### Author:  [@TORQDSS](https://forums.speedlife.net/u/TORQDSS)
#### Post date: [August 12, 2013, 8:37am UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/26 "2013-08-12T08:37:46Z")
> [@robftw](#):
>
> Does cash really talk? Would you be more willing to sell a car for say 10 or 15% under msrp if the buyer paid in cash vs bank loans?
Finance is better for both the customer and the dealership. The banks typically give us lower rates than if you went to a bank or credit union which we pass on to the customer.
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### Author:  [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)
#### Post date: [August 12, 2013, 8:52am UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/27 "2013-08-12T08:52:47Z")
Why not cash? So the dealer can skim some money off the top?
No doubt the rates are always still good, but there is no reason why a dealer should prefer a loan to cash unless they are going to make more money off the deal.
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### Author:  [@ultradriver10000](https://forums.speedlife.net/u/ultradriver10000)
#### Post date: [August 12, 2013, 10:10am UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/28 "2013-08-12T10:10:35Z")
You keep mentioning service.
I purchased a truck from a dealer in another part of the state. Why would the dealer where you purchased a car be more willing to give you good service then one where you didn’t purchase the vehicle? As long as its under warranty shouldn’t all dealers give you the same service? Additionally I do all my own maintenance, IE oil change and fuel filter changes. As long as I have my logs showing I’ve done the work, there shouldn’t be any issues correct? I don’t have time to wait at the dealer or be out my truck all day when I can do it in my driveway in 15 min for 1/2 the cost.
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### Author:  [@jay\_g](https://forums.speedlife.net/u/jay_g)
#### Post date: [August 12, 2013, 12:10pm UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/29 "2013-08-12T12:10:39Z")
Regarding test drives. Ive had different experiences. Ive had them give me the keys and said bring it back tomorrow. Other times the salesmen wouldn’t let me drive the car or I couldn’t go on the highway. All my dealings where with used cars but every time I was 100% serious on buying a vehicle.
Dave was nice to me when I came on. Offered to let me take the car to a mechanic of my choice to get it checked out. Speaking of that I need to stop in for a oil change.
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### Author:  [@JayS](https://forums.speedlife.net/u/JayS)
#### Post date: [August 12, 2013, 12:20pm UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/30 "2013-08-12T12:20:01Z")
> [@boardjnky4](#):
>
> Why not cash? So the dealer can skim some money off the top?
>
> No doubt the rates are always still good, but there is no reason why a dealer should prefer a loan to cash unless they are going to make more money off the deal.
I think I know, based on being there when my brother in law bought a car with dealer financing. When you get the finance person that’s when the extended warranty, glass etching, undercoating and other big money makers for the dealer get pitched. They just roll them and pitch them as “for just $X extra month you can have all this protection”. The guy walking in saying he’s going to pay X in cash and walk away with the car is probably MUCH less likely to buy all the extras. If you’re that cash guy the dealership knows they have one place to make their profit and it’s in the car sale itself. That extended warranty looks a lot worse as a $2000 line item than it does for “just an extra $35 a month”.
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### Author:  [@TORQDSS](https://forums.speedlife.net/u/TORQDSS)
#### Post date: [August 12, 2013, 3:56pm UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/31 "2013-08-12T15:56:35Z")
[quote=“ultradriver10000,post:28,topic:231002"”]
You keep mentioning service.
I purchased a truck from a dealer in another part of the state. Why would the dealer where you purchased a car be more willing to give you good service then one where you didn’t purchase the vehicle? As long as its under warranty shouldn’t all dealers give you the same service? Additionally I do all my own maintenance, IE oil change and fuel filter changes. As long as I have my logs showing I’ve done the work, there shouldn’t be any issues correct? I don’t have time to wait at the dealer or be out my truck all day when I can do it in my driveway in 15 min for 1/2 the cost.
[/quote]
Some dealers don’t service cars that weren’t purchased there and I really don’t know why. You are correct otherwise, save your receipts and you shouldn’t have any warranty issues. The manufacturer will only play that card if the customer has blatantly abused the vehicle and completely neglected maintenance.
EDIT: Like not changing oil for 4 years… then you’re in trouble because you can throw your warranty right in the trash.
[quote=“jay\_g,post:29,topic:231002"”]
Regarding test drives. Ive had different experiences. Ive had them give me the keys and said bring it back tomorrow. Other times the salesmen wouldn’t let me drive the car or I couldn’t go on the highway. All my dealings where with used cars but every time I was 100% serious on buying a vehicle.
Dave was nice to me when I came on. Offered to let me take the car to a mechanic of my choice to get it checked out. Speaking of that I need to stop in for a oil change.
[/quote]
You know where to find me!
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### Author:  [@ultradriver10000](https://forums.speedlife.net/u/ultradriver10000)
#### Post date: [August 12, 2013, 4:17pm UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/32 "2013-08-12T16:17:07Z")
Thanks for the advice!
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### Author:  [@1QIKZ](https://forums.speedlife.net/u/1QIKZ)
#### Post date: [August 12, 2013, 4:23pm UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/33 "2013-08-12T16:23:22Z")
> [@TORQDSS](#):
>
> Correct. In cases of people with good credit this is true and good advice to take. If you have bad credit some banks will require 10-20% down before they will even loan you money and more money down makes sense for the buyer to save interest in that case. Money down can also help us when negotiating with bank to get an approval or get a better rate. I will post some examples of car loans and the actual dollars paid in finance charge tomorrow so you can see the dollars saved.
>
> ---------- Post added at 09:03 PM ---------- Previous post was at 08:24 PM ----------
>
> The best thing you can do is see if the manufacturer can help but manufacturers get very cautious when customers start saying “lemon law” because of the legal repercussions. I would advise anyone to go that route only when every other avenue has been exhausted. And I mean every avenue. First, go to the owner of the dealership and see what they can do. Maybe a different technician can work on it or the manufacturer can have engineers get involved. If that doesn’t work and no one can find the problem talk to the dealer about trading into a new vehicle. If that doesn’t satisfy the customer, deal with the manufacturer to try to come to a solution or ask them to take it to a different dealer for service. If there is a real issue he might be able to get financial help from the manufacturer to get a new truck. I know of instances where Chevy has given people certificates for $1000+ to use towards a new vehicle but they must be the original owner who bought it new. If it is bought used this is not going to happen. Also he needs to keep in mind the only two places he can get the best help are the manufacturer and the dealership he bought it. In 15 years and all the people who think they have a “lemon” I can only think of 3 cases where it really was a lemon and went through the legal process. We have however traded people out of cars there was nothing wrong with other than in their mind in the attempt to keep them happy.
Sad to think a solution for this problem is to trade in a two year old vehicle because of a faulty transmission. Seems to me like the problem should be repaired even if it means replacing the transmission and not lying to the customer and throwing guesses at a solution. Sounds like he went the lemon law route because he’s had all he can stand at this point. I’m no multinational mega billion dollar company and even I offer a 5 year warranty on my work.
And what happens to that vehicle when he “trades it in” to the dealer? I’m sure he’s going to lose money and what’s the dealer going to do with it? Re-sell it to another unsuspecting buyer and saddle them with the problem. They sure as hell aren’t going to fix it.
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### Author:  [@robftw](https://forums.speedlife.net/u/robftw)
#### Post date: [August 13, 2013, 10:44am UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/34 "2013-08-13T10:44:03Z")
> [@TORQDSS](#):
>
> Finance is better for both the customer and the dealership. The banks typically give us lower rates than if you went to a bank or credit union which we pass on to the customer.
do the banks pay you a % for every car you sell and finance through them? Like an interest profit sharing type of thing
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### Author:  [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)
#### Post date: [August 13, 2013, 11:11am UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/35 "2013-08-13T11:11:46Z")
> [@robftw](#):
>
> do the banks pay you a % for every car you sell and finance through them? Like an interest profit sharing type of thing
I’m not sure of what Basil does, but;
> The first thing some dealerships like to do is lie about the interest rate they’ve secured for you. The finance manager might say “Great news! We got you a 7.5% rate!” when in fact they got you a 6.5% rate, but the lender is jacking it up 1% and giving the difference to the dealership. Often times this extra % is cut directly to the dealership in one check, it is NOT paid out over time.
[http://www.nyspeed.com/showthread.php?224178-The-quot-Shady-Dealership-Techniques-quot-Thread&p=3401523&viewfull=1#post3401523](http://www.nyspeed.com/showthread.php?224178-The-quot-Shady-Dealership-Techniques-quot-Thread&p=3401523&viewfull=1#post3401523)
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### Author:  [@Beck](https://forums.speedlife.net/u/Beck)
#### Post date: [August 13, 2013, 11:41am UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/36 "2013-08-13T11:41:31Z")
> [@robftw](#):
>
> do the banks pay you a % for every car you sell and finance through them? Like an interest profit sharing type of thing
Usually its a percentage or a flat amount. I.E. - Toyota pays the dealer $100/per lease contract. Even if we lease 50 cars a month, it’s only $5000. Every dealer and every bank participates in it. If you walk into a local credit union and personally get a rate of 2.99, I guarantee that the credit union gives the dealers it associates with a point or more less. So what’s the difference? (I.E. - Cornerstone lists 60 month rates as 4.25%. If a dealer calls them up and tells them that they have a customer that wants to use them, they will sell the dealer the rate for 3.25%…allowing the dealer to make a small profit)
> [@Onyx Z32](#):
>
> I’m not sure of what Basil does, but;
>
> [http://www.nyspeed.com/showthread.php?224178-The-quot-Shady-Dealership-Techniques-quot-Thread&p=3401523&viewfull=1#post3401523](http://www.nyspeed.com/showthread.php?224178-The-quot-Shady-Dealership-Techniques-quot-Thread&p=3401523&viewfull=1#post3401523)
And your credit union does this, as does the bank which lends you money. Every hand it switches until it makes it to you, makes a small or minuscule profit. When your credit union offers you their money for 3.99%, believe me…they didn’t buy it for that, it’s not a non-profit organization.
People buy a $200 pair of shoes and don’t care that it cost Cole Haan $13 to make. God forbid a dealer makes $500 on a $40,000 car, what an atrocity.
---------- Post added at 02:41 PM ---------- Previous post was at 02:34 PM ----------
I really think David wanted this thread to be a discussion on general advice and different questions that one might have when purchasing a car or servicing a car at a dealer. Not talking about how shady dealers are because they (just like ANY business in the entire known world) make every attempt to make profit when given the chance and also stick their necks out for customers when given the chance (atleast the good ones do).
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### Author:  [@JayS](https://forums.speedlife.net/u/JayS)
#### Post date: [August 13, 2013, 11:43am UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/37 "2013-08-13T11:43:21Z")
> [@Beck](#):
>
> When your credit union offers you their money for 3.99%, believe me…they didn’t buy it for that, it’s not a non-profit organization.
Your local credit union is about as a close as you can get to non-profit without relying on charity. They operate as not-for-profits and put the money they make back into lowering loan rates for their members and paying out dividends on investment accounts. As someone who writes credit union processing software for a living I see their general ledger totals all the time and these places don’t make mega bucks and have millionaire CEO’s like banks do.
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### Author:  [@Beck](https://forums.speedlife.net/u/Beck)
#### Post date: [August 13, 2013, 11:49am UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/38 "2013-08-13T11:49:02Z")
> [@JayS](#):
>
> Your local credit union is about as a close as you can get to non-profit without relying on charity. They operate as not-for-profits and put the money they make back into lowering loan rates for their members and paying out dividends on investment accounts. As someone who writes credit union processing software for a living I see their general ledger totals all the time and these places don’t make mega bucks and have millionaire CEO’s like banks do.
Neither do dealers than make a measly 1% markup on rates. Every not-for-profit CEO I personally know, makes way too much money for just walking to the mailbox everyday. Banks have mega bucks and millionaire CEO’s because of volume and stability…more importantly, that’s what the market can/will bear. A CEO of a 1,000 member credit union obviously can’t make as much as a 10,000,000 member bank such as Chase. Although, I get your point. However, I see “big” banks like Citizens, First Niagara, NBT and TD Bank offering far better rates than that of credit unions locally.
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### Author:  [@theblue](https://forums.speedlife.net/u/theblue)
#### Post date: [August 13, 2013, 11:56am UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/39 "2013-08-13T11:56:11Z")
1% gross on a car is good money for doing almost nothing.
I love you Penfed with your awesome 1.99% on used car rate.
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### Author:  [@Beck](https://forums.speedlife.net/u/Beck)
#### Post date: [August 13, 2013, 12:08pm UTC](https://forums.speedlife.net/t/general-advice-and-discussion-thread/231002/40 "2013-08-13T12:08:57Z")
> [@theblue](#):
>
> 1% gross on a car is good money for doing almost nothing.
>
> I love you Penfed with your awesome 1.99% on used car rate.
Almost nothing? You mean, processing the paperwork, securing the loan, maintaining the relationship, being responsible for the execution of your loan, answering your questions, days-months-years later… and keeping the paperwork in storage for 7 years… yeah, not a lot of work.
1% gross on a $25,000 car is $250. That’s hardly anything.
Regardless, it’s not 1% gross on the sale of the car. Nevermind, I’m removing myself from this. I know nothing about car dealers, I just work as a lot kid at one on the weekends for extra cash on the side.
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