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Wichita Auto Dealers

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  • #46
    Originally posted by abdullah_sharif View Post

    everyone seems to sell on payments.. i ALWAYS take a financial calculator with me (its on my phone). the best thing our non-finance friends could do is learn how to use one... i mean there are only six variables...

    Number of payments (no more than 48)
    Number of payments per year (12)
    Interest Rate (annualized)
    Present Value (amount financed)
    Future Value (always 0)
    Payment (solve for this)

    go in educated.. they prey on those who don't know.
    This is true.

    I negotiated a deal over the phone with a dealer down in OKC. We negotiated exact terms and exact price, before going down there. Showed up and surprise ... my calculated payment didn't match their calculated payment. They brought out a finance contract showing the correct terms, but an inflated payment, due to hidden fees which we thoroughly discussed would not happen. When I called them out on it, the salesperson "went back to the financial officer to check", came back and was like "yeah we made a mistake" and the hidden crap was removed. If I had not calculated the payment, even though they had the correct terms on the sheet, we would have been stuck paying that payment for the life of the deal simply because I agreed to the payment and the hidden fees buried within.

    It's not enough to just agree on an interest rate and duration. You have to calculate the exact payment to make sure they are not sneaking something in there in fine print.
    The Greek pronunciation for 'Gregg Marshall' is Zeus.

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    • #47
      People really should split the purchase from the financing, if you don’t have the knowledge or ability to do the loan math on site or prior. Plenty of credit unions out there with competitive rates, who’s bread and butter are auto loans, and who treat people straight. You won’t find the 0-2% stuff at CU’s, but otherwise...
      There are only three sports: bullfighting, motor racing, and mountaineering; all the rest are merely games.
      - Ernest Hemingway

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      • #48
        RoyalShock if you’re thinking about a new truck, you owe it to yourself to check out the Woodhouse family of dealerships up in the Omaha area. They sell to folks all over the US, and while they sell basically all makes, if you want a Ford or a Ram their inventory levels are mind-blowing - like nothing you’ve ever seen before.

        Their model is (generally) low pressure, low margin, high volume. They sell cheap and move product out the door.
        There are only three sports: bullfighting, motor racing, and mountaineering; all the rest are merely games.
        - Ernest Hemingway

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        • #49
          Originally posted by SHOCKvalue View Post
          People really should split the purchase from the financing, if you don’t have the knowledge or ability to do the loan math on site or prior. Plenty of credit unions out there with competitive rates, who’s bread and butter are auto loans, and who treat people straight. You won’t find the 0-2% stuff at CU’s, but otherwise...
          Also very true.
          The Greek pronunciation for 'Gregg Marshall' is Zeus.

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          • #50
            Originally posted by SHOCKvalue View Post
            RoyalShock if you’re thinking about a new truck, you owe it to yourself to check out the Woodhouse family of dealerships up in the Omaha area. They sell to folks all over the US, and while they sell basically all makes, if you want a Ford or a Ram their inventory levels are mind-blowing - like nothing you’ve ever seen before.

            Their model is (generally) low pressure, low margin, high volume. They sell cheap and move product out the door.
            Thanks for that tip! Omaha is an easy trip. We had to drive out to Moscow for a funeral today and noticed two used lots in Copeland that had numerous trucks. So I may also look in the rural areas where agriculture is king and trucks are the primary vehicle for most.

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            • #51
              Originally posted by WstateU View Post
              I'm feeling sorry for any Shockernet car dealers. Seriously, there are still some good people in the car business.
              i'm sure there are WstateU, and these wichita area auto dealers are always on my buy list, but they are going to have to step up their game to earn a sale. no longer does geography dictate deals... i'd much rather buy locally, but i work hard for my green and its unfortunate but the initial sale is based on price alone. service can be done anywhere and dealerships are contractually obligated to do warranty work.

              a few tips from friends in or previously in the auto business:

              1) don't fall for the free car wash and oil changes.. speaking of the car wash... it'll do more damage than its worth. a former walser employee shared with me that cars come out of their car wash with many more scratches than they entered with as the brushes / chamois grab rocks and transfer that love to the next car.

              2) don't be afraid to get up and walk out if you choose to negotiate. they are there to earn your business, its not guaranteed. this is why i do my homework online - i don't have to step into their snake pit. while we're on the topic, its the same reason the police want to take you downtown for an interview.. you're on their turf and they are comfortable while you're not. please please get an attorney before speaking EVERY time - involved or not - the cops can lie to you, but you can't lie to them. this advice comes from a friend and former WPD detective.

              3) the dealership / salesperson is nice to you but they are not your friend.. they are there to make you feel comfortable (see #2) many times, a walk to check with the manager includes them high-fiving.

              4) dealerships make most of their money at the end of the year with allocation from the manufacturer.

              5) beware of pack.


              enjoy shopping my friends.

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