Pretty bad experience. I was looking to do a trade in. They didn't want to appraise my car or even look at it. They went straight to; fill out this form and let's run a hard inquiry on your report. Keeping in mind, I pulled my credit report that morning it was a 636 (through the actual agencies; Transunion & Experian). Their credit pull came back 114 point less?!
Then they went straight into the sell. They said they could make something work with the most expensive car on their lot - literally.
Things to know:
1. If your credit score comes back with more than a 40pt difference - their utilizing their own algorithm to increase your interest rate. Most smaller dealerships work with the banks so their is a percentage split between the two on top of the sell when it comes to a higher interest rate.
2. Not asking anything about my trade, or even wanting to look at it; is horrible! 95% of all customers have one breaking point in their deal - will you take my trade in, and how much will I get? That's it. My car is a problem for my life at this time. I don't want it. What will you give me?
3. Knowing they didn't care about my trade in; I was waiting for the next punch.... And here it came...... "Well how much can you put down?" Yeah, that question happened quicker than a 18 year old virgin in the strip club getting a lap dance for the first time... Did you not care that I had a trade in. I clearly said, I want to trade in that car... Dealers initial response when I pulled in the lot saying I wanted to trade my car in; "nice, yeah we can make something work". Meaning my reasoning for point 4.
4. If I bring a car to you that has a lien on it, which is upside compared to the exact same vehicle on your lot with 10s of thousand miles less and has no body damage (because yours has a dent in the back bumper). And you even think your getting it from me for less than the 50% of the sale price of that exact same vehicle- you're only chasing one thing... $$$. E.g. I owe $4,000 on my car, your selling that exact same one for $9,999 and you only want to give me $3500 - Bro! You didn't even look at the car. Like hello, your going to make double the money today 1. From the car I'm trading in with a 60% mark up and 2 with me buying a new car. Stop thinking about your self.
Take always; don't let them run your credit- it's junk; another dealership ran my credit report today; it showed their hard inquiry and was just above 600 which was hell of a lot better even with the loss of 5pts their pull caused me. Couldn't do a deal because they wanted too much for the car I was looking at (carzone did have that- but that's it). Lastly, if they don't ask to see your trade in - walk away anytime after that is a lost. read more