Dealer applying for finance before sending quote

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derp90

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A dealer I'm speaking to wants me to fill out their finance application form. I read that I should apply to my own bank and let them apply to the rest, so I told them that.

But they said they will send the quote after I've filled out the finance application. Is this normal?

I thought they sent the car quote first?
 
derp90 said:
A dealer I'm speaking to wants me to fill out their finance application form. I read that I should apply to my own bank and let them apply to the rest, so I told them that.

But they said they will send the quote after I've filled out the finance application. Is this normal?

I thought they sent the car quote first?
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Lol they want their kick. Ask for the quote first before signing anything.

Just don't sign a otp until you have your finance settled. Those can be binding and one clause can be around finance where if they get you finance and you pass affordability and refuse, can cause problems.

Get the quote, they submit to theirs and you submit to yours.
 
Kosmik said:
Lol they want their kick. Ask for the quote first before signing anything.
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I asked and they said they'll send the quote after the forms are filled out for finance application.

When do I apply for finance from my bank, now? Before they've done it with the other banks or after they have?

Or should I just let them deal with all the banks like I did with my bond originator?
 
derp90 said:
I asked and they said they'll send the quote after the forms are filled out for finance application.

When do I apply for finance from my bank, now? Before they've done it with the other banks or after they have?

Or should I just let them deal with all the banks like I did with my bond originator?
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Tell him to get fk'd, you want the quote. You will apply with your own bank and when and only when you have received yours from your bank, will you let them try alternative financing.

Simple as that. If he says no, leave.
 
I receive written quotes from each dealership first and foremost before making any decision. Then I send the cheapest quote to all of them and they have a bit of a mini auction. This continues back and forth until one remains.
 
Lefty309 said:
I receive written quotes from each dealership first and foremost before making any decision. Then I send the cheapest quote to all of them and they have a bit of a mini auction. This continues back and forth until one remains.
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They try this to give the buyer a higher interest rate and get some kickbacks.

Once you have the one from your own bank, they are pretty much screwed. They can't "sell" you the higher interest rate for their applications. In almost all of these applications they do, you will hardly ever get an offer from a place like FNB or ABSA. It's always: "MFC came in with the best interest rate" :D
 
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Why can't people just NOT be shady? Now I have to set out on the wrong foot with them.

This is the only car of this colour that I want in the country at the moment, so they're the only dealer I can go to for a quote.
 
derp90 said:
Of course not, but pretty sure they know it is.
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Dont rush into the decision to hastily - bad car/money decisions can set you back years financially.

Please dont be the next post I made a mistake... There was one last year that almost ruined the guy with payments etc.

I will just leave this here.

"Interest is the price we pay for impatience"

Please note I hate debt :p
 
derp90 said:
Why can't people just NOT be shady? Now I have to set out on the wrong foot with them.

This is the only car of this colour that I want in the country at the moment, so they're the only dealer I can go to for a quote.
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Well you being firm can mean the difference of about 3% minimum interest which adds up. You can save yourself a ton of money by being firm.
 
Snyper564 said:
Dont rush into the decision to hastily - bad car/money decisions can set you back years financially.

Please dont be the next post I made a mistake... There was one last year that almost ruined the guy with payments etc.

I will just leave this here.

"Interest is the price we pay for impatience"

Please note I hate debt :p
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Don't worry about me. I narrowed this down for a while, and I'm prepared to pay MSRP for the car. I'm putting down a 35% deposit and can pay it off quickly (within 2 years).
 
derp90 said:
I just want to know they will charge me MSRP.
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YOU are in the control seat of the deal you make, if they won't play ball, I promise you there are other dealers out there. Hell, look country wide for a car investment.
 
Pitbull said:
Erm...

I'm scared for you with what you just said... Honestly :D
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I know the MSRP for the car. I'm prepared to pay it. I don't want to waste my time with financing applications if they plan on hiking up the price or something. That's why I'm asking if it's normal, and seems it's normal to get the quote first.
 
Kosmik said:
YOU are in the control seat of the deal you make, if they won't play ball, I promise you there are other dealers out there. Hell, look country wide for a car investment.
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did you miss the part where there is only one of these cars in the color he wants.

@derp90 dont mention the color but what car you looking at
 
derp90 said:
I know the MSRP for the car. I'm prepared to pay it. I don't want to waste my time with financing applications if they plan on hiking up the price or something. That's why I'm asking if it's normal, and seems it's normal to get the quote first.
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My point is not the MSRP.

You can get MSRP and finance at different places can actually end up costing or saving you THOUSANDS. Maybe I just understood your post wrong :)
 
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