I’ve seen dealers do this, certain price is only if you finance through them. But the good dealers will usually disclose this in fine print before you ever step inside.
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Take their financing, don’t tell them you plan to refi and then once the car is titled get a refi loan from one of those credit unions. You’ll pay the higher interest for 1-2 months possibly, but far cheaper than whatever surcharge the dealer will try to get from you. Unfortunately these days they hold all the power and they could easily find another buyer for $$ if you walk.
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Thanks for the advise. I was going to just pay cash, but didn’t even think about it getting sold out from under me. Ugggh
Just pay it off ASAP. But be warned if you do this, the dealer may not work with you in the future (they may get charged back but hey that’s their problem).
You can wait 90-120 days and refi. Dealer will still get their kickback. But if you don’t care, you can refi sooner just like others mentioned.
This is exactly the kind of behavior that gives Dealerships such a poor reputation…
The Dealership is making full mark up on the vehicle that they’re selling you at MSRP…
And yet … They’re trying to gouge you with regards to your financing choices …
Personally I would walk out the door and let them keep their SUV…
I have zero tolerance for Dealership’s like this…
….
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I’m all for not screwing a dealer that I have a good relationship with, but there’s no way I’d pay months of interest so the dealer didn’t get a charge back when they pulled something like this at the last moment. Disclose it up front? No problem. Surprise rabbit out of a hat? I’d make sure I refinanced as soon as possible.
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Situation is compounded by fact that the easy to deal with straight manager that set up the MSRP deal (in writing) is out on vacation until next week. I feel like his fill-in feels the power imbalance and is just trying to juice the deal. I’ve been waiting for this car since September.
Really does absolutely sour the relationship when this could have been a positive and very profitable transaction.
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Could you ask the dealer to share in the fee by giving you an additional discount?
and or will they give you until next week when the Sales guy returns from vacation for his thoughts?
otherwise as others say play their game and do the refi.
I assume you’ll get a survey from MB. Can you give the straightfoward manager a great review and then specifically call out the covering manager for being a turd?
Nope. It’ll bone everyone, salesperson to management.
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Plenty of mb buyers pay cash.
If you really want the car, just do the deal with mbfs financing and then be honest on the survey and refinance after a couple of months.
Oh, it does? Okay, good to know.
So nobody other than Leasehackrs ever complained about the hard sell by the finance folks?
Actually, I have heard that folks who use discount coupons at restaurants tend to leave lower reviews on online review sites than folks that did not use coupons. So maybe folks that get good deals tend to complain more.
I don’t work at dealers now that pay or punish based on surveys since they are BS. I have lost enough money because some customer thinks “no one is perfect, be happy with all 9s” or the cafe didn’t have their favorite snack. In fact, my scores are better now that I don’t coach survey scores.
100%. Someone who spends hours negotiating thinking they left money on the table is never going to be happier than someone who walks in and bought at asking.
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Update: So I reached out to the easy to deal with manager who’s on vacation and he made a few phone calls and they will accept any financing I bring and it will be a no bullshit MSRP deal as promised.
We’ll see what happens at the finish line.
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Update 2: Glad I raised the issue before picking the car up. Everything was resolved, they took my Penfed financing and final invoice was barebones clean. All good.
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For future reference or anyone else’s benefit, I always have my financing lined up when I go in, but give the dealer a chance to match or beat it. I always tell them they need to beat it, but would take the match. I’d say about half the time they do. That works for both of us. I get a better rate and they make a little from financing.
Had a really interesting experience when we bought my wife’s car in November. F&I guy said he couldn’t match the rate, but would discount the car to beat the payment. He explained there was a financing spiff they were trying to hit. He took about $1200 off the price. We were at MSRP with no DAOs, so the spiff must have been pretty significant.
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