mooty

ah. didn't know that, most of my clients are around 800+ so ...


then what am i missing on my orig post? it would seem that for a few bux more, purchasing would be better, no? i dont know the answer, just trying to understand the possibilities.

icon

the topic was financing/leasing rates and not fees.
buyers should do their homework just like on the price of the car.
if you negotiate an out the door price for the vehicle it's not going to matter what the fees are.
and no i don't consider making a profit on a service they are providing deceptive practice.

it's not a secret.
it is a profit center for a dealership.
as i pointed out b/f you can source your funds from anywhere.

eclou

Most of us have been around the block a few times with this process. While arranging an out the door price is very easy on a G35, Passat, etc. it is not quite as simple as you would like to paint it when you are dealing with a high demand vehicle.

I can beat the deal my leasing agent finds me about 50% of the time, but it is usually a tooth and nail fight. Often your cap cost is going to change if they get wind that you have outside financing, or are going to do a 1-pay lease or outright cash purchase. It is an empirically complex process. While most of us don't really need to worry about the nuts and bolts of the deal, I'd rather not pay anymore than I have to.

icon

it's a process you control since you can always go to another dealership.
i don't agree that it is complex.
it goes w/o saying that you would rather not pay anymore than you have to.
i'm sure the consumers of your occupational production would say the same.

eclou

Go to another dealership for what? How many Gt3's and TT's are available? It is easy to work a deal on a 997 cab, Boxster, Cayenne. No one is contesting that. If you can work magic on the near-exotics then please run a workshop for us. I come from dumb money, and the purchasers of my product have their costs pre-negotiated by insurance companies and the govt.

bucking

I'm curious, what does the phrase "consumers of your occupational production" mean?

icon

gheez!
obviously the more limited the car, the less negotiable the price.
which would be seperate from financing and leasing.
the car in question, a 997gt3, can be found.

a lame attempt . . . but the only way that i could think to put it not knowing his field.

Paul523

That should NEVER occur, and should never be tolerated if it does happen.

I've bought or leased 4 Porsche and BMW cars since 2003, never have I once told my dealer HOW I was going to pay for the car until delivery day, with price already set in stone weeks or months earlier.

Twice I did conventional financing-- on my 997S I got % rates quoted over the phone from credit union and several banks the day before delivery, then I phoned the dealer's finance guy the morning of scheduled delivery & told him I had 5.4% offered from USBank, he called me back two hours later & said they would match the rate, so I went thru the dealer--done deal, picked up the car that afternoon. Early loan-buyout penalty, doc fee might have deviated by small $100 or so from one loan to the other but no other tricks.

Same with a lease, go in there armed with money factors & residuals via leasecompare & a couple of banks (on my leased M5 it took a few days for the banks to confirm all of the particulars) and the dealer finance mgr miraculously found an in-house leasing bank/affiliate offer that matched my best counter.

Greg, sorry to hear they bulldogged you on your 3.

eclou

You can walk away from a 997S on the lot. Sure. Try walking from a Gt3 that you have been tracking for months, spec'd down to the last stitch to your liking. When you walk into that office, you are the sheep. They may be merciful, maybe not. The only thing in your favor is how much business you have brought and will continue to bring, and even then it is no guarantee. Far more people get taxed for things they never saw coming than don't. Sometimes you don't even realize that you have been paying for "credit life ins" until a year later. If you have experienced no hassles then you are either blessed, well-informed, totally ignorant, or in the industry.

icon

. . . or you could negotiate an out the door price and write a check.

eclou

The F&I guy got a real sad look on his face when I "threatened" him with a check on my TT. His response was that the tax credits would then vanish. I felt like I was wrestling with a pig in Crisco. It's only money right?

Paul523

Sorry I don't mean to be combative- the financing does not threaten your existing contract to buy the car, no matter how rare or desirable the vehicle is.

as icon said, write the check! .. or bring in outside financing/leasing if they won't match terms... it literally is a ten-minute phone call away, set up the contingency the day before. haha love the Crisco pig comparison! so true
.... it is only money, but I think about all the aftermarket or garage stuff i could order with a few $thous saved.

It kills me to see people become timid about this stuff. My 97S was spec ordered with a couple personalized options, they knew I was pumped to get the car but Finance/sales assoc's never copped an attitude about countering my bank's terms, never a disagreeable tenor during the transaction. If they know someone is not a malleable sheep, they won't treat as such.

Billy Wyatt

Lease compare .com saved me over 200 per month over Porsche leasing. $1640 a month v/s $1830. It also included all fees except taxes/ttl

Paul523

Poor fellow thought his new set of golf clubs were about to be taken away.

Likemystoppie?

First and foremost to address money factors, interest rates ect:

It depends on the dealer AND the client. True, we make money on the backend - but not in every case, situation or deal. We are in business to make money- and after all, most business do not disclose their profit margins or 'other' ways to make money. Go to a Dr's. office and ask to see how much 'cost' was on that needle they just stuck you with, or how much the medicine they prescribed to you. How much it cost's to make a Big Mac, or what actual cost for the interest rate you just got from the local credit union. We are entitled to make money, just like anyone else. Where the line is drawn is when dealers get really greedy by marking up the money factors or rates; but like it's been said earlier- you have other means to finance- if you can get the dealer to match an alleged better rate, then do it. When i say we don't make money on every deal I mean it. There are cases of giving the client 'buy rate' to make the deal happen. In Porsche's case, no one readily advertises the rates. And why should they? Even if you see buy rate is .000280 for example, doesn't mean you're entitled to that rate does it? Especially if you recieved a huge concession on the car itself.

Leasing is a great tool, but not for everyone.

The real answer is simple: Not a single one of you buys/leases/purschases for the same-exact-reason-or-circumstance.

At the end of the day, I would always suggest doing business with a dealership with a great reputation and one that you feel comfortable giving your money to. You always have choices- It's as simple as that.