Unbelievable Buying Experience!

Originally posted by snowspirit
reply to post by jerryznv

 

we have paid off 4 cars in that time through GMAC...my wife falls in love and never wants to get rid of her car until it is completely necessary..

On the plus side, you have a very smart, practical wife. Not every guy can say that.

I think it's the economic and political climate in the US right now. It's just too uncertain.
Hopefully, you aren't a victim of identity theft.

Very true...my wife is extremely sensible...and frugal!

I don't think I have been a victim of identity theft...but I have not ruled that out either!

I am over being upset about it...and I am just going to be thankful I have anything at all...a lot of folks out there are scraping just to feed their families!

I think you are right..the political and economic state of this country right now is extremely volatile...that probably contributes to this too!

reply to post by jerryznv


If you still want a loan, join a credit union. They will have the lowest interest rates. But you know, sometimes places such as where you buy vehicles or sofas will offer a low rate of interest, but they don't discount the item as far as if you walked in there with cash. .

reply to post by jerryznv

Don't forget GM also makes money off the sale of your trade in.....So, I wouldn't say they make no money off you. The transaction you initiated in the original purchase evolved into another sale on the same vehicle, plus it kept that ever so important cash flow going....

Originally posted by Destinyone
reply to post by jerryznv

 

Don't forget GM also makes money off the sale of your trade in.....So, I wouldn't say they make no money off you. The transaction you initiated in the original purchase evolved into another sale on the same vehicle, plus it kept that ever so important cash flow going....

That was my thought too...but I didn't want to start a whole debate about how GM has made nothing off of me in the last 15 years...and that I was on a free ride...so I just let it roll of my back!

Your right though...I imagine I get average book price for my trade in and GM turns around and sells it at high book value...and because it is used...they sell it at a prime interest rate.

People with less than perfect credit have a really tough time buying brand new...and used is usually the preference for them...so the banks get away with raping them on the interest rates.

Believe me...they are making plenty of money off of me...and others like me!

I thought that I read somewhere that GMAC wasn't in business anymore ?

If you really want the truck, have them give you an invoice with the price,
take that to your bank or credit union and get a check.

Originally posted by elevatedone
I thought that I read somewhere that GMAC wasn't in business anymore ?

If you really want the truck, have them give you an invoice with the price,
take that to your bank or credit union and get a check.

Well like I said earlier...interest rates are the only things that dissuades me from doing that...my bank in particular has outrageous interest rates...especially on auto loans!

Not many banks can compete with the manufactures promotions when it comes to loans and interest rates!

Like you said though "if you really want the truck..." I just don't want it that bad...not bad enough I am willing to get stuck in a high interest loan!

ETA: GMAC is still very much in business...www.carsdirect.com...

reply to post by jerryznv


I understand... check some local credit unions, they're sometimes a little better on rates...

Originally posted by elevatedone
reply to post by jerryznv

 

I understand... check some local credit unions, they're sometimes a little better on rates...

You are correct. Some credit unions are now offering sweet interest rates to entice customers. Especially after the BofA fiasco on attempting to charge for debit card use....

Originally posted by elevatedone
reply to post by jerryznv

 

I understand... check some local credit unions, they're sometimes a little better on rates...

I haven't checked any credit unions...so that is a good idea!

It would be nice to get a loan at about the same interest rate and walk in with a check!

I'll start with the local credit unions tomorrow and see what happens...I think we have about 7 in this town.

Soooo... Whats up with your credit info? Any news worthwile disclosing?