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About CadillaCricket

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    Tall, Handsome, Married, Smart, A veritable cornucopia of vernacular verse, highly opinionated
  • Interests
    Guitar, Music, Frisbee Golf, Philanthropy, XBox360, Fishing, Fishing, Fishing....
  • Occupation
    Finance Manager at Twenters' since 06, Salesman there since 03

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  1. Sorry to hear you had a frustrating dilemma with Toyota. Sounds like the dealership did OK, they just dropped the ball in communicating with the bank. Glad GM could work it all out for you. By the way, did the GM car do well for you? Did the lease work out OK? This story brings up a valid point.. Technically all vehicle deliveries are spot deliveries, to an extent. When you buy a car the Dealership finances your first based upon the stipulations it's bank would give the customer (with dealer discount).. The car is delivered.. THEN the dealer sells the contract to the bank, and it takes assumes the note. If the bank decides there was something wrong with the application process (i.e. customer doesn't mention that they aren't full time yet), then the bank calls the dealership and the deal either unwinds from their or is recontracted at terms agreeable to the bank. Other times dealerships intentionally use the spot delivery forms, or bailment agreements, to get the customer out the door and in the car... Then three weeks later they call you... After you've already tinted the windows and installed the XM.. Tells you the bank wouldn't take the deal it's .75% higher, or you can take this special rate from GMAC and the price changes to this... But they don't tell you that over the phone, they make you come in.. This has apparently worked on poor credit customers for years (dateline or NBC did a show on it) but now dealerships are getting greedy and trying to pull this crap on good credit customers.. The whole thing really chaps my a$$ as it first steals my customers, then makes them wary of all salesmen next time they purchase... Doesn't help my cause at all and it certainly doesn't help them..
  2. I am a finance guy at a dealership, so here's your answer... The auto enhanced credit score is something that the BANKS calculate. It's their way of making their own rules on grading your credit. They pull a variety of credit scores and, yes, they concentrate mainly on the auto note history (as well as job time, residence time, and Debt to income ratio) Dealerships can learn to calculate it pretty well, but they don't make the decisions. Also mainly "auto sensitive" credit reports are mainly something that Credit Unions and smaller banks do. Chase Prime Auto, for instance, pulls one of two or three bureaus and makes a decision within seconds. But that is a prime bank.... Remember that a credit score isn't like your height or age.. Don't confuse a high credit score with having a good, solid credit rating.. For example I have met 18 year old boys with 2 credit cards and a 714 beacon score.. Low balances and high limits.. But they wouldn't qualify for an auto note without a cosigner....
  3. Excellent suggestions, as this sounds very fraudulent. Find an attorney or licensed legal professional to help.. Take all of your paperwork to the prosecutor if all else fails.. Good luck, and next time choose your dealership wisely...
  4. Allow me to answer this question first. No, this is not what they are referring to. a Spot delivery (if you had read any of the links listed above about it) is when the dealer has you sign a form of "bailment agreement" that basically entitles them to renig on the deal they offered for a variety of reasons. The basic answer to the problem is "READ EVERYTHING YOU SIGN" If you read something that said every other peice of paper you sign is subject to some sort of approval and you still sign, I say it's your own fault. I am a finance manager and I see how many people don't read the paperwork, or even worse.. they sometimes ask me to "shut up and show me where to sign" when I am explaining the disclosure boxes...
  5. How did reading that exotically fantastical farse from the stone age of car sales help save me money when buying a car? I will tell you how, by reminding me not to deal with those types of dealers.. I can assure you (for whatever my loathesome assurance as a certified car salesman is worth) that I do not engage in ANY of the activities described in this article... However, as I mentioned I do feel that people wouldn't get screwed by screw balls if they didn't go out and deal with screwballs...