New Car - Unexpected Fees and Delays

expatOz on 23/04/2018 - 19:56
Last edited 25/04/2018 - 11:09

After almost being deceived into buying a base model for the price of a higher end model last week, I decided to purchase a brand new car with no problems and no surprises.

But, alas, there're different issues this time around. So I went it a Mitsubishi dealership to purchase the Outlander, did a test drive liked it, talked to the finance guy and got the details. I asked him twice if there're any hidden costs and he said nothing at all. Agreed on a price and delivery date, shook hands, signed the contract, paid the deposit.

Now after 2 days suddenly things have changed:

1) There's suddenly a $398 "Establishment fee" on top of the $750 "Dealer Admin Fee" (which was $700 when I asked multiple times). So thats approx $448 more than I expected.
2) The delivery date mentioned on the contract is 24 April and was also confirmed several times but now suddenly they "can't confirm, looks like early next week".

W.T.F.

Now I understand that since I signed the contract on Friday, I can exercise my cooling off right but I stand to lose $400 (plus the establishment and admin fees? hope not) just because the payment is made?

I'd thought a new car purchase would be a fond memory but its turning out to be quite the opposite. :(

Now the questions I have are:

1) If I cancel the contract during the cooling off period do I pay just 400 or 400 + dealer admin fee + establishment fee + what not?
2) Has the finance guy advised me right that I prepay as much as I want, cancel the direct debit and keep the $10 until the end of the term to avoid early termination fee?

Thanks!

Automotive

Comments

        • field1985 on 24/04/2018 - 18:20
          -2

          I didn't quote any figures. lol

        • field1985 on 24/04/2018 - 18:24

          @antt:
          Individuals aren't the only market for cars, there are company cars, fleet vehicles, rental car companies, government cars, etc, etc, etc. So yeah, even if "nobody" were buying new cars, there would still be used cars. What a moron.

        • spackbace on 24/04/2018 - 18:28
          +1

          @field1985:

          I didn't quote any figures

          .

          about half the purchase price is dead money.

          K.

        • field1985 on 24/04/2018 - 18:32
          -1

          @Spackbace:
          figure (noun): A number, especially one which forms part of official statistics

          "about half" is not a figure. If I had said 50%, that would be a figure.

        • field1985 on 24/04/2018 - 18:37

          @Spackbace:
          Resorting to insults just proves you lost the argument. Have a nice day!

        • field1985 on 24/04/2018 - 18:58

          @Spackbace:
          You can buy a 2015 model (which does exactly the same thing and will still last 20+ years) for $34k:
          https://www.carsales.com.au/dealer/details/Toyota-Landcruise…

        • MrBear on 25/04/2018 - 15:14

          @field1985: 1/2 = half
          1 and 2 are figures.
          / is an operator.

          now go back to 3rd grade where we learnt this stuff.

        • DeadlySaber on 26/04/2018 - 12:18

          @field1985: 180,000km in less than 3 years, this car has been driven to death.

      • field1985 on 24/04/2018 - 18:21
        +1

        Nope, I didn't say that.

  • DangerNoodle on 24/04/2018 - 05:34

    Not sure if I missed it but what is your finance interest rate and did it disclose if here are monthly/annual loan maintenance/account keeping fees? Usually I avoid dealer finance unless they're negotiable (got a Toyota finance down to 4.3%) and I bargain as much as I can.

    If there are loan maintenance fees, etc. I would say go with a different bank or credit union. A good example is with the citibank readycredit card, you can borrow 7.9% unsecured with just a once off establishment fee and no monthly fees aside from the interest. Other banks and credit unions can give you similar or better interest rates secured. Dealer loans are usually crap.

  • whooah1979 on 24/04/2018 - 06:14
    +1

    Surprises like this is why we’ve always purchased vehicles with cash. It doesn’t matter if it’s private, dealer or auction. Always pay cash or consider a lower spec model or brand to meet the budget.

    • KLoNe on 25/04/2018 - 13:10

      This. Always buy less car than you can 'afford'.

  • GangGang on 24/04/2018 - 07:09

    Quick question. How did you manage to purchase a brand new outlander for $22,4xx excluding fees? Don't they start at $28,xxx, excluding fees?

    • KLoNe on 25/04/2018 - 13:11

      Shhh. All the fees are secret.

  • Topdog on 24/04/2018 - 07:43

    Things happen. Just wait to next week

  • apple2016 on 24/04/2018 - 08:01
    +4

    Dealer Admin Fee: 750
    Dealer Delivery: 2195

    Now thats what I will be worried about. not the $398 fee for the loan/finance.

    • expatOz on 24/04/2018 - 13:01

      No I guess delivery delivery is fine, they just made up the numbers to come up to the agreed price 29150. I dont care how they made those up as long as I'm paying what was agreed.

      • gromit on 25/04/2018 - 09:26

        I think the point is those are hideously high fees and suggest they really screwed you over on the price.

  • alxr0101 on 24/04/2018 - 08:29

    What does the Contract state? That should show all fees…anything added later is not enforceable or breach.

  • Butt Scratcher on 24/04/2018 - 08:50
    +1

    You are one funny guy, did you read the contract? You would've known if you did mate.

    These things don't just suddenly change after you've signed the contract. You're supposed to negotiate these kinds of fees BEFORE signing the contract, not after the fact

    • [Deactivated] on 24/04/2018 - 09:12

      Maybe you should re-read the threads. He did read the contracts. He didn't receive any finance paperwork.

      • Butt Scratcher on 24/04/2018 - 10:17
        +1

        That doesn't change anything…

        So, it sounds like you have 2 contracts. One for the car and one for financing. Apparently it wasn't attached to the cars contract, so it must be in the finance. Read the the terms attached to financing, if you don't like those terms (including the $750 and/or whatever fees they are asking) seek financing elsewhere or negotiate it.

        • spackbace on 24/04/2018 - 10:23
          +1

          seek financing elsewhere or negotiate it.

          Bingo. A finance application, and approval, doesn't mean you have to go through with it

        • expatOz on 24/04/2018 - 13:00

          @Spackbace: But doesn't it mean it would be a second credit inquiry with another provider? It would hurt my credit history wont it?

        • spackbace on 24/04/2018 - 13:16

          @3zzy:

          Would you rather take the initial figure you get as gospel, or do you want to know if it's good or bad?

          If you get out of this sale, and go for a new car elsewhere, that's another check on your file.

          Depends how many credit applications/checks you've had lately.

        • Ti-au on 24/04/2018 - 16:11
          +1

          @3zzy: yes

          Thanks to spackbace - you help too much…

        • bmerigan on 24/04/2018 - 20:05

          @3zzy: It doesn't 'hurt' your credit history. It simply gets listed on your account that an enquiry/application was made.
          Next application you do they can see you recently made one.

  • boostpak on 24/04/2018 - 09:19

    post an image of the contract mate so people can actually give you advice, not going off this and that

  • [Deactivated] on 24/04/2018 - 09:20
    +19

    Mate - I'll tell you now you should cancel the contract immediately.

    If you brought this to fair trading - you will win.

    I had similar issues. Twice.

    First Situation:

    I told them I wanted no deposit finance. No deposit at all. They told me to give them my credit card details to hold the car. I told them I don't want to pay anything and they assured me my card wouldn't be charged. I got approved and was told to come pick up the car on the weekend. They charged my credit card $500. I called them and said "You said you wouldn't charge my credit card and now I am over my limit and have to deal with over limit fees." They sent me a cheque for $500 and cancelled the sale.

    Second Situation:

    I told them I want no deposit finance at a particular rate. I told them I want that on the contract. They put on the contract "subject to finance". I got approved and was told to come and pick up the car. I asked them "what are the finance terms ?" and they told me the terms are 3% higher than what I wanted plus a down payment of $5000. I told them this is not what we agreed on. The sales guy tried to tell me I have to buy the car because the paperwork is final.

    I had to send an email to the GM and other directors of the dealership CCing the sales guy before the GM replied "please refund his deposit and let's move on"

    So - if they promised you anything by word of mouth or other - get it in writing COMPLETELY. If they say "No other fees applicable" you tell them to add that into the contract - even specify no other finance fees applicable - even get them to put the finance payment amounts on the damn contract. And if they don't - move on.

    But even so - cancelling the contract and asking for your deposit back is fair game. They told you one thing and did not supply you with any paperwork. They also did not disclose the fees and have not given you any details of your repayments on paper for you to look at before you signed.

    This is 100% BS and you certainly can take them to fair trading. I would do it immediately and not waste any more time posting messages on the forums.

  • pantsparty on 24/04/2018 - 09:39
    +6

    Mate just give up on buying a car - you are not very good at it. All of the issues you have raised would have been non existent if you did your research properly and read everything you signed before you signed it. Just take public transport.

    • [Deactivated] on 24/04/2018 - 09:55

      What a nasty response.

      Why doesn't he give up on life too while he is at it ?

      • pantsparty on 24/04/2018 - 10:36

        Well that is a tad dramatic. There is a big difference between catching the bus and jumping in front of one. Are you ok Michegianni?

      • jacross on 24/04/2018 - 11:46
        +2

        Well let's take it one step at a time.

      • Ti-au on 24/04/2018 - 16:13

        Why doesn't he give up on life too while he is at it ?

        I concur with this response to….

    • Ti-au on 24/04/2018 - 16:12
      +1

      I 100% agree with pantsparty.

      ban 0p.

  • backpaqer on 24/04/2018 - 09:47
    -2

    Vehicle inspection fee $21… What's that cover? Looking up from clipboard and acknowledging that there's indeed a vehicle parked in front of him?

    Makes me happier that I went with lease.

    • spackbace on 24/04/2018 - 10:24
      +6

      lease

      Lol yeah coz they don't charge fees… /s

  • Seraphin7 on 24/04/2018 - 10:03
    +8

    Good lord.

    Some people just shouldn't be allowed outside without adult supervision.

  • DBBROS on 24/04/2018 - 10:09

    If you can wait, I would recommend that you postpone the purchase until new deals are available by the end of this financial year. But if you can't and you are in urgent need of a car it is better to go for it. I ended up paying similar fees when I took delivery of my car. From my experience so far anything with a finance will have additional fees on top of the drive away price. Although I couldn't negotiate with the price, I was adamant about the delivery date. I did tell them that I will only proceed if they could source the car in two weeks and they did. It was an OK experience for me overall and I really don't want to think getting a new car for at least five years.

  • gimme on 24/04/2018 - 10:29
    +5

    Ozbargain needs a new algorithm for 'Highlighted Discussion Threads' … 90% of the top threads are junk these days and riddled with topics from people with no common sense or basic skills. I'm sure there are a lot of useful intelligent and probably even bargain related topics that are getting pushed down the list because of this nonsense.

    • expatOz on 24/04/2018 - 12:57
      +1

      Dealing with car salesmen is not "basic skills", I'm sure even the best talkers would be deceived by them.

      • gimme on 24/04/2018 - 13:06
        +2

        Used car salespeople are no different than the usual challenges you will encounter in life. The important thing is to learn to READ, ASK questions and make sure you understand everything BEFORE signing on the dotted line. This metaphorically applies to everything else in life. and yeah don't ask these types of questions on a BARGAIN forum full of 'dominos' kids. Sure you'll get clever and practical responses from some but the majority is just rubbish based on personal biases and misinformation. You'll have a hard time separating fact from fiction. You need to find a more appropriate (motor vehicle related) forum if that's the way you like to get advice.

        • RockyRaccoon on 24/04/2018 - 17:31

          LOL - "understand everything"

          The way I read this post is that its about a new car and new car salesmen.

          not Used Car

          Or is it that I dont understand?

        • gimme on 24/04/2018 - 17:49
          +1

          @RockyRaccoon:

          Yes new car.. i didn't read much of it anyway.. just replace my comment with car salesperon. Same thing

      • kingmw on 24/04/2018 - 20:20

        It's true that it's not basic skills since you are the prey and they hunt everyday. But you need to be better informed or bring a unbiased friend to help.

  • JIMB0 on 24/04/2018 - 10:38
    +4

    There is one more fee they didn't tell you about. Full comprehensive insurance, usually required when you finance a car.

    • expatOz on 24/04/2018 - 12:54

      Yes, that was also a surprise but I was going to buy that anyway.

  • colaman on 24/04/2018 - 10:47

    Sounds like you have a problem reading paperwork from your 2 last experiences. Maybe you need to take someone with you so they can explain to you what the charges are before you sign for them. Don't take a car salesmans word for it.

    • expatOz on 24/04/2018 - 12:57

      Maybe, but I read what I signed .. the car deal is fine. its the finance but I haven't signed that yet so not really.

  • narcoleptic-haze on 24/04/2018 - 11:48
    +3

    When I bought my (first brand new) car, talking to the finance guy at a VW dealer felt like dealing with a drug addict down a dark alley. After a few minutes I knew I couldn't trust a single word he said. Lots of fast talking, joking around with numbers here and there really quickly to throw me off, stating one thing then quickly throwing the conversation in another direction. He quoted me on their extended warranty and got the price wrong (under-quoted) and assured me it wasn't a 3rd party warranty (it is), and then took 6 weeks to initiate it, only after I called to complain twice. Glad I didn't go with their financing. Ofcourse all of this was denied by him and the head manager saying "that's not how we do business" etc etc.

    • expatOz on 24/04/2018 - 12:56
      +1

      Exactly, I've learnt my lessons. New to Australia and everything else is quite awesome here so I assumed I could trust what they say but turns out its not the same everywhere.

      • Ti-au on 24/04/2018 - 16:16

        everything else is quite awesome here

        NBN, electricity, house prices, poor transport outcomes (sydney trams), stagnant wage increases, decreasing job security….

        • RockyRaccoon on 24/04/2018 - 17:33

          sydney trams

          yep a poor choice … considering they live in Melbourne

        • Ti-au on 24/04/2018 - 17:40

          @RockyRaccoon: Fresh government data shows that 14 of Melbourne's 16 metropolitan train lines were less punctual in 2017 than they were in 2001.

          Drivers could spend 20 per cent more time sitting in traffic as congestion significantly worsens over the next 12 years, modeling released by Infrastructure Victoria has revealed.

          So glad to help you and op out :)

        • bmerigan on 24/04/2018 - 20:13

          Would you like to leave? Where will you go?

        • RockyRaccoon on 24/04/2018 - 21:58
          +2

          @TheMostHated: All pointing to having more people means having to provide adequately for them, rather than the current political/public service mentality, being that more people drives growth.

          More people not only means more power, when we are committed to reducing power, it also means other services, like water sewerage, hospitals, as well as the ones you mentioned.

          Problem being that the irrationals see restricting more people from coming as being "racist", rather than rational.

          And yes racists do want to restrict population growth. However this is solved by not restricting any one race/ethnic/religious group.

          Keep the % mix but reduce the numbers. UNTIL we provide the services. That in itself will reduce tensions for all by providing all the things you see as issues too both new and old.

          Adequate services benefits by meaning we can longer term increase the numbers here.

        • Ti-au on 25/04/2018 - 11:03

          @bmerigan: Ironically I am leaving Aus… b00m

  • spackbace on 24/04/2018 - 12:21

    New ASIC laws will make conversations like this very interesting…

    • expatOz on 24/04/2018 - 12:55

      How so?

      • spackbace on 24/04/2018 - 13:18
        +1

        Your interest rate will be your interest rate, regardless of where you go (assuming same car etc). You won't be able to shop the rate that much.

        A lot more transparency but also a lot less negotiation on rate.

  • Grayfox on 24/04/2018 - 13:11

    From my experience financing through a dealership is always more expensive. There should be plenty of better deals in regards to finance available elsewhere. Just have to shop around.

    • spackbace on 24/04/2018 - 13:19
      +1

      From my experience financing through a dealership is always more expensive.

      Only if you suck at negotiation.

      Not sure why people negotiate on the car, and then stop negotiating after that when they see other parts of the dealership.

      • expatOz on 24/04/2018 - 14:01

        Okay so its ready for delivery but they're firm on the quote: 4.69% for $12650 over 60 months + 750 admin + 398 establishment. Is that a good deal? Turns out to be 8.5% comparison rate.

        • spackbace on 24/04/2018 - 14:10
          +2

          No one knows your financial background so can't comment on good/bad interest rates.

          If you're concerned, get another finance quote elsewhere.

        • chumlee on 24/04/2018 - 16:53
          +1

          Speak to this mob first

          https://www.peopleschoicecu.com.au/campaigns/car-loans/

        • bmerigan on 24/04/2018 - 20:15

          Doesn't comparison rate represent the 'true' rate, inclusive of all fees?

        • [Deactivated] on 25/04/2018 - 08:17

          @bmerigan:

          Yes but it might be a reference rate rather than calculated for OPs specific loan.

          I personally don’t beleive anything OP says. Constantly twisting the truth to gain compassion.

          Last time it turned out he DID ALREADY KNOW about the missing features when he signed. Probably same this time around.

      • Charity on 24/04/2018 - 14:13

        That's a good tip

  • cintamami on 24/04/2018 - 13:21
    +1

    These finance fees are very common.

    1. Dealer establishment fees $700 - $1,000 - their fees of looking after your finance application, whether its appropriate or not (as they get kickback from finance yet still charges us fees), you will still have to pay this, unless it is agreed beforehand that there wont be dealer establishment fees.

    2. Loan establishment fees $395 - this is common, all finance company charges this at loan inception.

    What you should have done is, get one or two finance quotations, so you get a comparison rate, then you shop it to the dealers finance.

    Provided that the loan conditions are the same (i.e. balloon / no balloon), just ask them to come up with a lower repayment amount than your two quotes over the same repayment period if they want to win your business. After that, its up to them whether they want to charge you $2k for the loan establishment fees or whatever, you ended up paying less anyway.

    The first battle is the purchase price, the second battle is the finance.

    Anyway, depending on which outlander you are getting, if it is just the basic one, I think $29k maybe a bit high. Perhaps wait for the end of the year sale?

    Cheers

    • expatOz on 24/04/2018 - 13:38

      Okay so its ready for delivery but they're firm on the quote: 4.69% for $12650 over 60 months + 750 admin + 398 establishment. Is that a good deal? Turns out to be 8.5% comparison rate.

      • Baysew on 24/04/2018 - 14:20
        +2

        No one knows your financial background so can't comment on good/bad interest rates.

        If you're concerned, get another finance quote elsewhere.

        (Sometimes a second opinion is the same as the first)

      • Major Packer on 24/04/2018 - 16:00

        A friend of mine got a Toyota last year with 0% interest rate: https://www.ozbargain.com.au/node/299947

        It seems like you got a crap deal. But I don't know maybe your situation is different.

        • spackbace on 24/04/2018 - 17:49

          Lol not every car was 0%…

        • kingmw on 24/04/2018 - 20:24

          They just make it back with the fees, no discounts on the car, lower trade-in prices, accessories or servicing costs etc. There's always a catch in these.

          Remember they are in the business to make money/profit.

        • [Deactivated] on 25/04/2018 - 08:21

          @kingmw:

          Correct, they’re just packaging the price in different ways. Called “blind discount” the cost of finance is taken off the price the finance company pay for the vehicle.

      • cintamami on 24/04/2018 - 17:57

        Hi 3zzy

        I dont know your personal finances.

        Assuming you have a good disposable income, you will be better off hopping through credit card balance transfers for a $12k loan.

        Otherwise, at this stage, try to quote around, finance application wont take long. Try Esanda / CBA business car.

        When you go quoting around, dont get bogged down on the establishment cost, focus on the total repayment.

        If with the dealership, you will pay $80/wk, find some other finances that will do $75/wk or so, same terms, same conditions.

        Hope this helps.

        Cheers

      • malich on 24/04/2018 - 20:07

        How did you calculate the comparison rate? Seems very high.

        4.69% finance rate is an extraordinary good deal with how the market is at the moment.

        Ignore the comments about 0% finance. These deals are subsidized by the manufacturer.

  • HeWhoKnows on 24/04/2018 - 18:52

    Simple answer: READ THE CONTRACT!!!

  • Cheeper on 24/04/2018 - 20:30

    Next time just say you are interested in the simple numbers and not the details.
    Drive away price is $?
    Includes all fees charges, tolls, taxes, rip offs etc. and includes 1st yr insurance if you dont want to arrange your own.
    If financing just get the monthly payment amount and the number of months.

  • Windows98 on 24/04/2018 - 21:53
    +4

    Seriously good stuff man.
    I look forward to reading about your first service.

    • [Deactivated] on 25/04/2018 - 08:13

      Oh lord

  • [Deactivated] on 25/04/2018 - 08:13
    +1

    Nine out of the 11 charges are simply part of the driveaway price. Why list them all individually, for dramatic effect? Kinda feel like OP is the shyster here, constantly scheming and weaseling out of things.

    • [Deactivated] on 26/04/2018 - 07:01

      "Weaseling out of things is important to learn. It's what separates us from the animals. Except the weasel."

  • shangoz on 25/04/2018 - 11:20

    Well, you are the Customer not paying last big money yet, if they really want to get your business, you can go talk to them to get some true bargain and don't need to pay one cents, due to delivery delay ba ba ba …, when talke buying car, 10% even 20% mark down is quite normal, so a few hundred up or down is up to you smart or not, but remember, all fee fee fee can be void if you stand firm.

  • frugal investigator on 25/04/2018 - 11:34

    Well you have a cooling off period so if you want to use it - then use it. They may reduce fees if you exercise your right (they cannot provide verbal advice contrary to the contract you are entering in, so if you were misled the cooling off period allows you to easily walk away).
    I'm not sure anybody wants to do business with somebody who misled you.

  • Aneurism on 25/04/2018 - 12:01

    Was going to mention cooling off period but OP already seemed aware. The dealer can keep $400 or 2% of purchase price (whichever is greater).. so depending on the price of the purchase, things might also get more interesting.

  • knasty on 25/04/2018 - 15:54
    +1

    Reminds me of the Seinfeld episode 'The Dealership".

    PUDDY: (While punching up numbers on a calculator) That chick’s whacked. We’re history. (Back to the transaction) I just left out a couple of things:

    rust-proofing..

    JERRY: "Rust-proofing"?

    PUDDY: (Reading off what he’s adding up on the calculator) Transport charge, storage surcharge, additional overcharge, finder’s fee

    JERRY: "Finder’s fee"? It was on the lot!

    PUDDY: Yeah, that’s right. (Continues reading off) Floor mats, keys..

    JERRY: ‘Keys"?!

    PUDDY: How ya gonna start it?

  • This Guy on 25/04/2018 - 17:39

    Both your sales person and business manager (finance guy) are morons.

    You shouldn't have been promised a delivery date unless the car was on site at the dealership. If your car is in the country around 3 weeks, 15 business days or 21 days is industry standard in NSW as vehicles need to be sourced and transported (I would assume it's the same in Victoria). Some accessories can be up to 3 months if sold out (longer on new models).

    Dealer Admin Fee: 750
    Establishment Fee: 398

    These are both establishment fees for the loan. $398 is standard for a bank many dealerships use. Your business manager should know that. As for a dealer admin fee, that's probably just to cover the wage of your business manager. Good ones can be on a wage of $200,000+. One $750 fee per working day would not cover that wage. They should have been up front. The fees are needed, but should have been explained better.

    Now:

    In NSW a car bought on finance should have a clause to the effect of:

    'this contract will only come in to effect once finance has been secured'

    In NSW you can decline the terms of a dealership's finance offer, ask for your deposit back and get it (they will drag their heals). If they refuse, tell them you will take them to the ACCC. If they ignore you, go to the ACCC, complain publicly on facebook and google, on your private pages, the dealerships and the manufacturers.

    Complaining directly to a manufacturer will do nothing. Most people complaining come off as unreasonable. Giving anything less than 100% on the sales survey will screw over everyone you dealt with. I know of dealerships that will fine a salesperson $1500+ for one bad survey. Imagine what they fine the bosses?

    • Moral hazard on 25/04/2018 - 20:10
      +1

      Dealer Admin Fee: 750
      Establishment Fee: 398

      I want to touch on these two fees just to help out others who are getting dealer finance.

      Like everything at a dealership, those fees are negotiatable.

      Best car prices I've seen are from asking for a price match with a competitor and the same goes for finance deals.

      Ask for a match of rate and fees with an offer you got from a bank. And don't forget to compare the banks as well.

      Or don't even bother with dealer finance and just negotiate with the banks since they often don't pay the staff commission for writing finance contracts.

      • solidussnake on 26/04/2018 - 06:46

        The Establishment Fee isn't, its what the banks set for new loans !

        But yes the DAF fee is as its pure profit for the dealership.

      • This Guy on 26/04/2018 - 06:50

        Fees

        Not really. They both need to be paid. You will just end up with a slightly higher % to cover the fees. Total repayments should be about the same

        Commissions

        Many banks do 'bonuses' instead.

        • Moral hazard on 26/04/2018 - 13:37

          Well this is mis-information.

          Trust me, as a former BM myself and having worked at a bank also.

          Fees are flexible…

          One of those fees can be waived by the BM.
          (Not that they would want to, but they wouldn't have to ask anyone permission).

          The second fee can be waived after a phone call to the rep from the finance company.

          Lastly they won't just make up for it in the interest rate if you are asking for a price match with a bank inclusive of rate and all fees and charges.

          Just ask for a total cost of the loan and compare that. Get a printed quote.

        • This Guy on 26/04/2018 - 19:54

          @Moral hazard:

          Your info is outdated. There is a reason no one you worked with is still a business manager.

          Yes, you can get that second fee waved. You rep ain't going to take a hit. That fee is going to come from your dealership one way or another.

        • Moral hazard on 26/04/2018 - 21:31

          Edit:

          My info may be out dated but I personally would attempt to negotiate all fees.

        • This Guy on 26/04/2018 - 21:50

          @Moral hazard:

          You're not helping. Talk to anyone you still know in the industry. Finance has changed significantly due to recent regulation. How isn't a topic for public forums.

  • T1OOO on 25/04/2018 - 23:51
    +1

    This guy. Something new every weeek.

    • [Deactivated] on 26/04/2018 - 06:59

      There is no helping some people.

      Maybe next week he can sell the car on gumtree, buyer deposits money into bank account and shows an electronic receipt. :-)

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