Stealerships

[bennyblanco]

https://twitter.com/x/status/2099929143106240643

View attachment 1938038

How is the labour charge only R3k... Was this panelbeater just charging for a headlight replacement or what

 

[Hotfuzz]

I bought a new car recently. The plan was to finance for under 240k this allows be to benefit from 'finance discount' but then just pay off instantly from my paid up access bond which has a much better interest rate.

We agreed on price and completed the full finance application then had to remind them on numerous occasions to send me paperwork to check prior, this wait was about 2 weeks. They send this 2 days before 'delivery' and when they finally did they had loaded an extra 15k to push above 250k

Obviously ridiculous so got them to bring it back to the original agreement. New one comes through and all of a sudden an extra 0.5% interest rate added. Cheeky basturds... but I accepted

Anyways paid up the finance 2 days after purchase and cost me about R1k or so on fees, interest. The dealership now has to fight the finance house over their R17k kickback and since the loan is under 250k protects me from any clawback nonsense.

 

[notayoba]

I bought a new car recently. The plan was to finance for under 240k this allows be to benefit from 'finance discount' but then just pay off instantly from my paid up access bond which has a much better interest rate.

We agreed on price and completed the full finance application then had to remind them on numerous occasions to send me paperwork to check prior, this wait was about 2 weeks. They send this 2 days before 'delivery' and when they finally did they had loaded an extra 15k to push above 250k

Obviously ridiculous so got them to bring it back to the original agreement. New one comes through and all of a sudden an extra 0.5% interest rate added. Cheeky basturds... but I accepted

Anyways paid up the finance 2 days after purchase and cost me about R1k or so on fees, interest. The dealership now has to fight the finance house over their R17k kickback and since the loan is under 250k protects me from any clawback nonsense.

Oooh? Very interesting. Didn't know about the 250k limit. That explains a lot. Last time I financed a vehicle it was also in the 240k range, and they managed to convince me to get the extended service plan (which was actually pretty handy), pushing the price to just over 250k.

That explains why they were so adamant

 

[W@P]

I bought a new car recently. The plan was to finance for under 240k this allows be to benefit from 'finance discount' but then just pay off instantly from my paid up access bond which has a much better interest rate.

We agreed on price and completed the full finance application then had to remind them on numerous occasions to send me paperwork to check prior, this wait was about 2 weeks. They send this 2 days before 'delivery' and when they finally did they had loaded an extra 15k to push above 250k

Obviously ridiculous so got them to bring it back to the original agreement. New one comes through and all of a sudden an extra 0.5% interest rate added. Cheeky basturds... but I accepted

Anyways paid up the finance 2 days after purchase and cost me about R1k or so on fees, interest. The dealership now has to fight the finance house over their R17k kickback and since the loan is under 250k protects me from any clawback nonsense.

That's one way of giving them the finger. Well done

 

[Hotfuzz]

Oooh? Very interesting. Didn't know about the 250k limit. That explains a lot. Last time I financed a vehicle it was also in the 240k range, and they managed to convince me to get the extended service plan (which was actually pretty handy), pushing the price to just over 250k.

That explains why they were so adamant

Yip. All that extra shite comes in at exorbitant costs and then you must pay interest on it at a stupid rate. By the time you need that extended service you have paid a lot more than its actually worth 4-5 years later

Seems like the only thing most people are concerned about is lower monthly payments. That was their argument to me about increasing to above 250k but it doesn't make financial sense.

 

[Hotfuzz]

That's one way of giving them the finger. Well done

Got to take those small wins when they present themselves

 

[W@P]

https://twitter.com/x/status/2099929143106240643

View attachment 1938038

We had an out-of-warranty/maintenance 2010 X5 50i at our holiday home for a while. What a POS that was.

The drive/prop shaft fell out at one stage. Valve stem seals needed replacing. Suspension was fscked. Overall POS.
And we had it at the 140k km mark. Luckily, when we bought it, we took the additional 3rd-party warranty that covered some of those repairs. Sold it after that valve stem seal story. The only good thing about it was the aircon seats.

Also noticed on its service history that it had the cooling system replaced and the prop shaft replaced under goodwill by BMW.

Now I see it has the BMW N63 engine. That engine, or variants of it, was still used up until 2023 in some models.

Fscking scary.

 

[W@P]

Got to take those small wins when they present themselves

You basicly made a ton of paperwork for them, and they made fokkoll.

 

[W@P]

Yip. All that extra shite comes in at exorbitant costs and then you must pay interest on it at a stupid rate. By the time you need that extended service you have paid a lot more than its actually worth 4-5 years later

Seems like the only thing most people are concerned about is lower monthly payments. That was their argument to me about increasing to above 250k but it doesn't make financial sense.

"How much per month?" is usually the first question. Fsck the purchase price.

 

[airborne]

I bought a new car recently. The plan was to finance for under 240k this allows be to benefit from 'finance discount' but then just pay off instantly from my paid up access bond which has a much better interest rate.

We agreed on price and completed the full finance application then had to remind them on numerous occasions to send me paperwork to check prior, this wait was about 2 weeks. They send this 2 days before 'delivery' and when they finally did they had loaded an extra 15k to push above 250k

Obviously ridiculous so got them to bring it back to the original agreement. New one comes through and all of a sudden an extra 0.5% interest rate added. Cheeky basturds... but I accepted

Anyways paid up the finance 2 days after purchase and cost me about R1k or so on fees, interest. The dealership now has to fight the finance house over their R17k kickback and since the loan is under 250k protects me from any clawback nonsense.

What is the clawback that you are referring to here, if the loan was over R250k and you settled it immediately would the dealer be able to claim that R17k commission from you?

 

[Hotfuzz]

What is the clawback that you are referring to here, if the loan was over R250k and you settled it immediately would the dealer be able to claim that R17k commission from you?

If it's over 250 there's generally an early settlement clause which forces you to pay the finance house 3 full months of interest to get out of the agreement. They will probably add this amount to your settlement quote.

Anything under this amount legally they can't do jack. It actually says this in the agreement that you sign

 

[Lupus]

I bought a new car recently. The plan was to finance for under 240k this allows be to benefit from 'finance discount' but then just pay off instantly from my paid up access bond which has a much better interest rate.

We agreed on price and completed the full finance application then had to remind them on numerous occasions to send me paperwork to check prior, this wait was about 2 weeks. They send this 2 days before 'delivery' and when they finally did they had loaded an extra 15k to push above 250k

Obviously ridiculous so got them to bring it back to the original agreement. New one comes through and all of a sudden an extra 0.5% interest rate added. Cheeky basturds... but I accepted

Anyways paid up the finance 2 days after purchase and cost me about R1k or so on fees, interest. The dealership now has to fight the finance house over their R17k kickback and since the loan is under 250k protects me from any clawback nonsense.

In Feb,I put down a 270k deposit leaving 60k to finance, after 3 weeks I asked for the settlement docs, paid in 61k and boom done no extra loaded.

 

[Hotfuzz]

You basicly made a ton of paperwork for them, and they made fokkoll.

They threw in a tow bar to 'sweeten the deal' (8k on the invoice) which they had to get fitted so they must be well pissed. When they contacted me to fetch the plates, the sales person had left for another job opportunity so it wasn't even awkward doing that.

 

[SauRoNZA]

Where do these people have these problems? Between my Audis at Audi dealerships, and my parents Kia at Kia dealerships i've never had bad experiences or repair issues. it just works, and the odd time something did go wrong they were very apologetic, gave me a spare car and fixed it.

It’s more about the scam they all run on things like brakes, wiper blades and “windshield chip repairs” than the normal servicing stuff because they still charge their normal exorbitant hourly labour rate and therefore inflate very simple jobs by charging full hours for fast jobs and it all stacks up.

It’s not unlike the medical aids where doctors charge crazy money because usually the medical aid is paying, not because the price is fair.

And then some added fear mongering of “you won’t make it to the next service” meanwhile the brakes have 50,000km left on them.

 

[Rndmness]

I bought a new car recently. The plan was to finance for under 240k this allows be to benefit from 'finance discount' but then just pay off instantly from my paid up access bond which has a much better interest rate.

We agreed on price and completed the full finance application then had to remind them on numerous occasions to send me paperwork to check prior, this wait was about 2 weeks. They send this 2 days before 'delivery' and when they finally did they had loaded an extra 15k to push above 250k

Obviously ridiculous so got them to bring it back to the original agreement. New one comes through and all of a sudden an extra 0.5% interest rate added. Cheeky basturds... but I accepted

Anyways paid up the finance 2 days after purchase and cost me about R1k or so on fees, interest. The dealership now has to fight the finance house over their R17k kickback and since the loan is under 250k protects me from any clawback nonsense.

What is this under 240k finance discount?

 

[notayoba]

What is this under 240k finance discount?

2 separate issues/concepts

You tend to get a discount on the vehicle if you finance it and use the dealer's finance broker, as the dealer gets a large kickback.

Under 250k, they can't screw you with early termination fees if you pay the loan off quicker. (Learnt this yesterday)

 

[W@P]

I have been thinking about this.

When you buy with cash, the dealership makes you fill in a SARS form to declare where you got the money from. It's more of an irritation to me, not because it's "warm geld"; it just opens you up to a possible audit or whatever from SARS, which is unnecessary.

So I thought, with my next purchase, why not finance it and settle as quickly as you can?
Then atleast you don't have that SARS BS in your life.

Or am I going about it wrong?

 

[W@P]

They threw in a tow bar to 'sweeten the deal' (8k on the invoice) which they had to get fitted so they must be well pissed. When they contacted me to fetch the plates, the sales person had left for another job opportunity so it wasn't even awkward doing that.

They are probably sitting around an AI Agent trying to figure out what processes or BS they can implement so that it never happens again.

 

[W@P]

I can't tell you how many faces I've seen drop when I tune them; it's gonna be cash. They hate cash deals. Cause there's no kickbacks.

Then they still force you to go and see the F&I after the deal is done to find out if there is anything that they can add on.
Get fscked man. I paid the price; wtf do you want to add on now?

 

[Lupus]

I can't tell you how many faces I've seen drop when I tune them; it's gonna be cash. They hate cash deals. Cause there's no kickbacks.

Then they still force you to go and see the F&I after the deal is done to find out if there is anything that they can add on.
Get fscked man. I paid the price; wtf do you want to add on now?

You'll also not get any discounts or such paying cash, generally you'll pay more.