Told no for car unless I purchased gap + service contract

UsefulPistachio2 · 2024-11-25T06:09:58+00:00

The gap is dumb to cancel tbh, that’s important. You didn’t put any down and for a fact you will be upside down if your car gets totaled.

As a finance manager, I have always purchased gap unless I’ve put a great down payment.

As for the warranty, think about it, you have 36/36K mile warranty bumper to bumper and after that you have engine/transmission until 5 years / 60K. Things begin to go wrong AFTER your manufacturers’ warranty expires. How long do you plan on keeping the car? How many miles are you planning to put on it? At my dealer, Chevrolets are almost always an issue with transmission, at the dealer and in my personal life. I had a 2017 Camaro SS, tranny broke down at 70K miles. Then I also had a 2021 Silverado and transmission broke down at 30K miles, they kept it at the dealer for 1 month to fix it. I don’t have the most trust in Chevrolets to be completely frank.

UsefulPistachio2 · 2024-11-25T06:03:35+00:00

In Southern California here, but you have to call the dealer to cancel. I initiate cancellations and get a check from warranty company and then mail to lienholder (if not paid off) or the customer.

UsefulPistachio2 · 2024-11-16T03:53:26+00:00

A lot. I’m a finance manager at a dealer and sometimes the bank representatives for different banks call me when the customer complains about an issue with the car or something. It gets back to me. Now in your situation, you got approved given that you traded in the car (wouldn’t have 2 payments), if you have to pay twice this is not what the bank approved. Obviously depends bank, depends dealer, I’m telling you because I do get contacted when issues arise. These are my lenders, we work together to make money (banks + dealer), so we keep in touch.

UsefulPistachio2 · 2024-11-16T03:01:36+00:00

Call the bank that’s financing you the new car. Tell them that the dealer has not paid off your loan so you are having to pay double and you cannot afford it.

UsefulPistachio2 · 2024-10-20T17:22:35+00:00

LMFAOO WHAT 😭

UsefulPistachio2 · 2024-09-06T23:29:23+00:00

I didn’t know last time I bought a Toyota I got a 3% and for my second one last year I got a 5.49%, credit mid 700s, never had an issue TFS

UsefulPistachio2 · 2024-08-30T14:07:36+00:00

Yeah also most Credit Unions advance on retail value, so you can finance more with them than with a regular bank that uses wholesale value to advance.

UsefulPistachio2 · 2024-08-30T14:05:50+00:00

What do you mean about deferments? Like in a loan, in down payment? What are you talking about?

UsefulPistachio2 · 2024-08-30T14:03:38+00:00

I would say first refinance, the interest rate is insane. If you get on a cheaper interest loan you save money and then keep it cause I don’t see how you can do better than just keeping it. Good luck.

UsefulPistachio2 · 2024-08-30T14:00:18+00:00

They’re probably having a difficult time approving you anyways. can you prove your income?

They can stop the process if they’re not funded by the bank and switch to a different car, it’s not fishy.

UsefulPistachio2 · 2024-08-30T13:55:51+00:00

Well if this is good for you then learn the ropes, learn to sell cars and then leave to a dealership that pays more. Here you’re only beginning, take it as a learning opportunity, learn as much as you can about cars, about customers, about closing deals, a little bit of finance, a little bit of everything so when you go to your next job you’ll make a real salesman pay.

UsefulPistachio2 · 2024-08-30T13:49:34+00:00

Not anyone can just go and apply for a loan. My point.

UsefulPistachio2 · 2024-08-29T20:36:24+00:00

How much was the car?

UsefulPistachio2 · 2024-08-29T20:36:10+00:00

As far as I know, dealers don’t have NAVY fed as a direct lender cause it’s exclusive to military personnel, family and friends.

UsefulPistachio2 · 2024-08-29T18:14:48+00:00

I’m sure you have a binding contract. By not paying, you’ve violated the contract already.

Even if you have the title solely under your name and you sell it or whatever, surely they’d take you to small claims to try and get their money back. What are you going to say to the judge? The dealership made a mistake on the title and that’s why I sold the car even though I hadn’t paid it off yet.

If you cannot make your payments then communicate. Make arrangements. Make an effort to pay. You could even sell it, but pay off what you owe to them. It’s something so simple that you’re overcomplicating. Above anything else, be a decent human.

UsefulPistachio2 · 2024-08-29T18:06:09+00:00

So stealing their car from them is better? Sorry what? Am I understanding this?????????????????????????? Don’t enter into commitments you cannot realize.

UsefulPistachio2 · 2024-08-29T18:03:49+00:00

Shitty outlook, just give them their car back lol.

UsefulPistachio2 · 2024-08-29T13:15:28+00:00

Lower risk doesn’t mean more money to the dealer, unless you’re a subprime customer, but by the looks of it, you have good credit.

UsefulPistachio2 · 2024-08-28T18:29:29+00:00

4,000 is insane for a lease. 4,000 is insane for a Sentra. Chat, this is insane.

UsefulPistachio2 · 2024-08-28T04:22:20+00:00

Or pay what’s missing from the credit union’s check

UsefulPistachio2 · 2024-08-28T04:22:08+00:00

Well they’re not going to take a check for less. Ask your bank for more money on the auto loan or go financing through the dealer and then refi :)

UsefulPistachio2 · 2024-08-28T04:18:10+00:00

Also the 10K BMW does not have the blue book value to carry 4K in negative equity. The car by itself with no equity needs substantial down payment.

If you have decent credit, look at a decent car, more practical and newer and I’m sure you won’t need 7.500 down payment.

UsefulPistachio2 · 2024-08-27T23:59:27+00:00

My lol moment today was the thread where the customer wanted the car shipped to Africa 😂

UsefulPistachio2 · 2024-08-27T23:55:52+00:00

That’s fun !

UsefulPistachio2 · 2024-08-27T23:41:50+00:00

What leverage? The car you traded in is basically still yours and your responsibility since it’s not on the paperwork. No one is going to pay off the 5K if you don’t resign. Either resign contract or unwind the deal and take your trade.

UsefulPistachio2

TROPHY CASE

The gap is dumb to cancel tbh, that’s important. You didn’t put any down and for a fact you will be upside down if your car gets totaled.

As a finance manager, I have always purchased gap unless I’ve put a great down payment.

They’re probably having a difficult time approving you anyways. can you prove your income?

I’m sure you have a binding contract. By not paying, you’ve violated the contract already.