Anyone else almost get "took" by the dealer?

[smartmike]

I bought my Smartie the old-fashioned way. I saved up for it and paid cash in full.

Michael

[dlomshek]

Get your financing settled BEFORE going to the dealer to pick up your smart.
Check other avenues than the dealer (banks etc.). Best of all save-up and pay cash! I can't believe ordering a new car without getting your financial house in order.

[drmickeyer]

Beware the finance guy. I paid with a check, but before I was even ready to write it, the finance guy was telling me my finance score and offering financing that I didn't want. I have found in the past that getting up and walking out usually gets you what you want at the car dealer.

[NCC1701]

Originally Posted by smartmike

I bought my Smartie the old-fashioned way. I saved up for it and paid cash in full.

That's ideal, if you can do it. A lot of people, myself included, would require 4 or 5 years to save up the purchase price. And, that's assuming the will power to not touch those savings for 4 or 5 years. Requires a bit more discipline and foresightedness than a lot of people have. I include myself in that group.

[misscatears]

Originally Posted by NCC1701

That's ideal, if you can do it. A lot of people, myself included, would require 4 or 5 years to save up the purchase price. And, that's assuming the will power to not touch those savings for 4 or 5 years. Requires a bit more discipline and foresightedness than a lot of people have. I include myself in that group.

Agreed. I've only been graduated for a few months, and I saved up about 1/3 of the price, but it would have taken me much longer to save up the full price. Not something most people can manage, unfortunately.

[brian r]

Originally Posted by jayhead000

I guess the take home point here is DO NOT take a high interest rate! even if you are young! (that's the reason this happend to us) Especially if your credit score is over 700. Be prepared and do not let the dealer screw ya because they WILL try.

Congratulations on your new car. I also waited 11 months, and can only imagine how disappointed you were to walk out of there.

The bad news is that many people just believe that "this is how things are", or don't have the persistence to take so many punches in the finance manager's cubicle, and walk out with a silly loan agreement.

[Kooky]

ALWAYS have your financing ready before going to the dealer. In other words, SHOP AROUND first. It takes more than a credit score to give you a loan, there are other factors and some lenders are tougher. I got mine with mercedes and I can't complain.

[saronian]

Originally Posted by jayhead000

Can't blame them for wanting to make more money i guess, but with interest rates at all time lows, they can't expect many people (w/good credit) to take a rediculous interest rate .

I wish they would follow Scion's (Toyota) lead and quote everything upfront and online. The Scion website lists current interest rates for Toyota Financing and segments it by FICO score and area. Their best rate is currently 5.65% for my area. They also requir each dealer list their charges for maintenance.

At first I thought smartUSA's direction would be to list all information online, but they dropped the ball, with maintenance, accessory, and service fees. Instead letting dealers slip n' slide around pricing of additional items.

BTW - Are any of the dealers actually updating their "smartCenter" websites? Do any post prices, specials, or sell parts online?

[2smartArizona]

Interest rates are just another thing you have to negotiate at the time of the deal. You can get your financing already set through your own banks or credit unions, but in the end, when I got mine, I knocked them down on the interest rate, insisting I was not satisfied with their offer, and they ended up getting me a better rate than my own banks offered me. I do score over 800 though, so that really helps. Banks are afraid to give even people with decent credit a loan these days.

[spud]

The only thing I think I got took is, I never pay sticker price for any cars I bought, but I have to paid sticker price for this one because my wife want it.
Dealer I delt with told me they made about $300.00 per car and the never put the market adjustment price for any of these other dealer.



Anyone ever pay over sticker price ?