Pre-Approved for the Loan with My First Test Drives Set For Tomorrow

[ItsAMe]

Title says it all. First time I'll be getting behind the wheel of this one and I'm ready to go. I'm really interested to see how the market is here in SoCal in person. I'll update as it goes and hopefully soon I can join the club.

 

[pastorwug]

You need loan pre-approval just to test-drive? Wow.

 

[ItsAMe]

You need loan pre-approval just to test-drive? Wow.

Nope

 

[The Car Stereo Company]

i socal is one of the more expensive places to buy....... mario......

 

[BroncoAZ]

You need loan pre-approval just to test-drive? Wow.

I always walk in preapproved with my own financing when car shopping, usually a much better rate than the dealer marking it up for profit. I can’t see not being ready to buy if one is out shopping for cars. I purchased kind of unexpectedly this week while working in another state. The only major issue was wiring money from one bank to another to be able to get a cashier’s check for the 35% down payment. Only one of my banks had a branch in NM.

 

[ItsAMe]

Funny because no matter how much we expressed we were ready to buy, they wouldn’t move on their price. Oh well.

 

[BroncoAZ]

Funny because no matter how much we expressed we were ready to buy, they wouldn’t move on their price. Oh well.

The salesman in AZ texted me “LOL, no way, bro, we’re selling ours for MSRP plus $2795 addendum” when I asked him to match the $500 over invoice and no add ons deal in NM. I told him that was fine but I was going to buy the other truck, he didn’t seem to care at all. I texted him a pic of the new Scab today and reminded him of the deal I got. His truck would’ve cost me $6K more for a truck with a $2K lower MSRP.

 

[ItsAMe]

They’re crazy but I guess they know the numbers they need.

 

[pastorwug]

The salesman in AZ texted me “LOL, no way, bro, we’re selling ours for MSRP plus $2795 addendum” when I asked him to match the $500 over invoice and no add ons deal in NM. I told him that was fine but I was going to buy the other truck, he didn’t seem to care at all. I texted him a pic of the new Scab today and reminded him of the deal I got. His truck would’ve cost me $6K more for a truck with a $2K lower MSRP.

Ha! I did the same thing with a dealer in Paso Robles, CA. I told him the deal in Kansas City, MO, he could have cared less, stuck to his $20k over MSRP. I sent him a pic ture of my wife anbd I happily driving my awesome truck home from Kansas City, free flight, free hotel (United points and Marriott points) and he just laughed.
How do these dealers hook their idiots to pay such prices and then make you feel like you got the deal of the century when they drop their ADM from $20k to $10K!

NEVER BUY IN CA!

 

[GordoJay]

They’re crazy but I guess they know the numbers they need.

They're not crazy. They respond to market conditions. When they think they can sell everything they have at a high price, they won't budge. When things get soft and they're worrying about carrying all that inventory for way too long, they'll deal. If you work at it, you can often find a sales manager that needs one or two more sales at the end of the month in order to qualify for an incentive. They'll do a deal then because it's worth more in incentives than what they give up on the sale. Between California being awash in money, Congress printing more as fast as they can, no 2021 Raptor announcement, they're betting that they can get MSRP+$10k. It's not a bad bet. It's time to move if you want a deal. There are still areas of the country with Raptors left and many fewer rich people to buy them.