At Hyundai Hillcrest. An Atos (drives pretty well, a bit weak on the power but enough for daily commuting the kids to school and grocery shopping with the occasional monthly voyage to visit my folks in Durban North).
They gave us this "deal" which I feel suspicious about.
They offered us a CASH deal, where if we bought this car we get cash back. Now, this is from an official HYUNDAI dealership to my knowledge so it's got to be legit, right?
R10 000 cash back.
This did not happen. It was then purported seemingly as if we did not have a choice, where creatively the choice was put in our hands to "buy" a lower interest rate, where the story is that they keep the money to pay directly to the bank, and, well, pay back a lower total car-loan amount.
This is what my wife reported back to me (with my own interpretations added to the story) while I was at work and she went out and chose the car. So ya, very disappointed to not get that cash..
I decided to phone the branch manager and he says it was legit, he didn't have "proof" of payment to the bank for such a deal and convincingly said that I would have saved money "buying" a lower interest rate. He didn't give figures how much I saved, just a confident "ya you save more money this way".
The whole thing stinks like rotten fish.
Does anyone have experience with the above?
*edit - from hippo, which I assume is what could have happened with the Atos:
Get cash back
If your vehicle’s current market value is higher than your outstanding credit balance, you can get cash back.
They gave us this "deal" which I feel suspicious about.
They offered us a CASH deal, where if we bought this car we get cash back. Now, this is from an official HYUNDAI dealership to my knowledge so it's got to be legit, right?
R10 000 cash back.
This did not happen. It was then purported seemingly as if we did not have a choice, where creatively the choice was put in our hands to "buy" a lower interest rate, where the story is that they keep the money to pay directly to the bank, and, well, pay back a lower total car-loan amount.
This is what my wife reported back to me (with my own interpretations added to the story) while I was at work and she went out and chose the car. So ya, very disappointed to not get that cash..
I decided to phone the branch manager and he says it was legit, he didn't have "proof" of payment to the bank for such a deal and convincingly said that I would have saved money "buying" a lower interest rate. He didn't give figures how much I saved, just a confident "ya you save more money this way".
The whole thing stinks like rotten fish.
Does anyone have experience with the above?
*edit - from hippo, which I assume is what could have happened with the Atos:
