Extended Warranty on a New Car to get low rate

[slow06]

That would be interesting. The loan was approved at X rate, they didnt say , X Bank will do X if you also buy gap and ext warranty..

Oh, well that is what it seemed like you were saying here:

The finance manager said, XX bank will give you XX rate , however, you have to purchase Extended warranty and GAP.

Sounds like Chili is on the right track though.

[TRAILBLAZER]

future piece of advice.

ALWAYS,ALWAYS,ALWAYS ..visit your personal bank, be approved and loan on place BEFORE you even step foot in with those bloodsuckers at the dealership.

That way, you know if you are getting a deal or not

don't buy Croak and Choke, Ext warranty, clear coat protection,scotchguard,nothing

[HECDOGGIE]

future piece of advice.

ALWAYS,ALWAYS,ALWAYS ..visit your personal bank, be approved and loan on place BEFORE you even step foot in with those bloodsuckers at the dealership.

That way, you know if you are getting a deal or not

don't buy Croak and Choke, Ext warranty, clear coat protection,scotchguard,nothing

My financing was in order with my CU before i started my search ,howver, i thought what the heck, lets just shop around. The Dealership cut my rate in HALF!!

I usually dont buy anything extra, gap/ext warranty/dent stuff/ epp.mpp.etc..... I purchased the car in OKC before i even went up there. I will feel warm and fuzzy when i cancel and the moneys are applied to principal.

[Captain Crawfish]

he fed you some bullshit but oh well. i usually just let them do their bs rate then i adjust via cash. i rarely stick to the terms on my loans banks hate it but if they screw me on the rate i will screw them right back.

[emg]

I use to work as a car sales man, it was like 14 years ago, but I remember the F&I guy told me one time that they don't know the exact rate right away, they just have like a window like say 5-8%, of course they are going to start high and play in between, move numbers around so they can maximize their profit.

Sent from my LG-D801 using Tapatalk

[mustang_revival]

My camaro, after declining the warranty (4 times) at 3500, then 2500, and just saying no two more times, they sold it to me for 100.00 on top of the original sales price. So lowered the sale price of the car to fit the extended warranty in.

The Subaru I bought in 2012, they pushed the extended on me, i declined. They ended up doing similar, gave me 1.5 lower points on finance and worked the extended in there.

I think they get kick backs or ratings on it of some sort.

This was all after making dealership compete for your business. See the TMV on edmunds, print it out, email it to two dealerships for thier car in stock and ask them to match it. Then once you have two offers, work them against each other on the car you like better. It can be fun if your in the position of control.


** If you're Tier 1 they will chase you like a giraffe going after a dual sport bike.

[slow06]

future piece of advice.

ALWAYS,ALWAYS,ALWAYS ..visit your personal bank, be approved and loan on place BEFORE you even step foot in with those bloodsuckers at the dealership.

That way, you know if you are getting a deal or not

don't buy Croak and Choke, Ext warranty, clear coat protection,scotchguard,nothing

Credit Life, Accident and Health? That is a funny nick name, I have never heard that.

I didn't buy a service contract on my last car. I really don't like sitting there explaining my philosophy on the subject while the F&I guy goes through all the responses to objections. I get it though. It is his job, and I'm sure he convinces a lot of people, but I now they won't convince me and it is such a waste of time. I try to be up front and honest about that. Doesn't stop them from trying though.

[mustang_revival]

I recently purchased a 14 GMC - The finance manager said, XX bank will give you XX rate , however, you have to purchase Extended warranty and GAP.


Thoughts ??

http://www.my-dmv.com/extended-warranty-scam.html

[BP]

I like to start with a completely unrealistic goal like wanting a $159 payment with no down payment and zero interest just to see what they throw at me. My method sucks though, don't follow it.

[fordracing19]

Grapevine Ford did the same to me. I canceled within 30 days and the full amount was applied to the principal.

[HECDOGGIE]

http://www.my-dmv.com/extended-warranty-scam.html

Good info..

[idrivea4banger]

The finance guy was speechless when I told him right off the bat that I wasn't going to get any of the insurances. I let him give me his presentation, still told him no. Boy his demeanor was that of a child. After I looked over through all the financial paperwork, I signed it. Got up to tell him thank you for his help and proceeded to shake his hand. Motherfucker was still looking at his screen and gave me a half assed handshake. Now that I look back at it, I should've ripped up the paperwork and walked out. Still have some regrets about buying my '14 chevy.

[8mpg]

Grapevine Ford did the same to me. I canceled within 30 days and the full amount was applied to the principal.

I went through some hell getting my warranty cancelled with Grapevine Ford. Skip had to get involved and it finally was cancelled.

[SMKR]

Alright guys.... Heres my question :

I recently purchased a 14 GMC - The finance manager said, XX bank will give you XX rate , however, you have to purchase Extended warranty and GAP.

I know two things, I dont need GAP - Truck Stickered at 42 and I was financing about 33K..

I dont need the extended warranty, especially on a new truck (5.3). I took the low rate, and bought the warranty and gap. Talked them down from 3300 to 2300 for both... I am going to cancel as soon as I make my first payment..
((when i negotiate a car, i negotiate price, not payment. I want to know bottom line cost))

Thoughts ??

When I bought my '14 GMC I didnt buy an extended warranty. You have up until 35,999 to buy one and can shop around for the best GM warranty price FYI. When I negotiated price I negotiated just the price, no other crap or 'you have to do x to get y.' Now I used my credit union (EECU) so it is a bit different than your situation. I just had to find the truck I wanted at the price I wanted then have them send a purchase order over to the credit union.

[SMKR]

Thoughts ??

What dealership did you buy from by the way? I shopped 22 different GMC dealerships and Beck Maston South in Houston had the best price.