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My salesman tried to tell me today that I was not eligible for the 90 day defered payment because I was already financed and took delivery! I immediately told him that I would simply not accept that offer and will be calling GM tomorrow morning to MAKE SURE that I get it now!

The gall!
 

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I'm sure your dealer will be more than happy to accept the return of your car, if you don't get what you want. ;)
 

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Yeah, just because GM waited until after your car was delivered to announce the program. Certainly someone somewhere can fix that.
 

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It's not a great eal

My credit is really good and I inquired about the GMAC 90 day deferred payment plan. The interest rate was around 9%! I went through a local bank and my first payment is already deferred by 45 days.
 

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Excelsior said:
My salesman tried to tell me today that I was not eligible for the 90 day defered payment because I was already financed and took delivery! I immediately told him that I would simply not accept that offer and will be calling GM tomorrow morning to MAKE SURE that I get it now!

The gall!

In theory and daily application the salesperson is correct. You didn't present an original copy of the letter before/at time of delivery. So you are not eligible. I think you are being a little rough on him in the post and title.

That being said. There may actually be a way. Of course I am assuming that you financed through GMAC, right? I have never done it, but I think there is a procedure for a Flat Cancellation Request. I think the dealership can request that GMAC cancel the first contract. Then they would be able to complete a new one with the defered payments. I think there may even be a fee.
 

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just do what I did when I got my Scion TC,

I financed though toyota to get the car, but then I found out that I could get a better rate through a diffrent bank (6%, instead of 9%) so I went to that bank and got a loan for the car there. the thing is, I had 45 days before my first payment to Toyota. so I got the bank to pay off the loan on day 44 and then I had another 45 days before I paied a cent on my car!! and it lowered my payments!!! :)
 

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Here is something that my dealerships finance manager told me. Maybe someone here like SD or CC can back them up.

I financed my car through Capital One Auto. I had everything set up before I went to pick up the car. Preapproved and didn't need my credit run or anything.

First they tried to talk me out of using capital one. Probably couldn't get me a better rate, but they wanted to run my credit through the ringer anyway.

I told them in no uncertain terms that I was sticking with Capital One because they have been very good for me to do business with and I wanted to stick with them.

They said that it isn't a problem. Then they said that there is a $560 fee whenever you finace through capital one and that they had to add that into the sale price. I told them that capital one didn't mention anything about that. I'm really starting to feel like I got screwed out of $560 here.
 

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Why use GMAC?

My credit rating is excellent and I can get 4.99% at my Credit Union. Last I checked (late August) GMAC wanted 7.49%. Why bother with GMAC just because of the "deal" to postpone first payment for 90 days. Or is it really only 60 days. Read their paragraph and go figure?!
 

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Del Solstice said:
My credit rating is excellent and I can get 4.99% at my Credit Union. Last I checked (late August) GMAC wanted 7.49%. Why bother with GMAC just because of the "deal" to postpone first payment for 90 days. Or is it really only 60 days. Read their paragraph and go figure?!
Yeah, my credit union is 4.5%. Are these 6-9% rates considered good rates?
 

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[
I financed my car through Capital One Auto. I had everything set up before I went to pick up the car. Preapproved and didn't need my credit run or anything.

First they tried to talk me out of using capital one. Probably couldn't get me a better rate, but they wanted to run my credit through the ringer anyway.

I told them in no uncertain terms that I was sticking with Capital One because they have been very good for me to do business with and I wanted to stick with them.

They said that it isn't a problem. Then they said that there is a $560 fee whenever you finace through capital one and that they had to add that into the sale price. I told them that capital one didn't mention anything about that. I'm really starting to feel like I got screwed out of $560 here.[/QUOTE]

I used Capital One in Feb to purchase my 05 Stang, and have my $20K chk in hand waiting to hand over to my dealer when my Solstice (#4 1st allocation) arrives...both times arranged / approved on internet and Capital One Fed Ex'd a Cashiers Check to my house which I could use anywhere..Seems like the dealer is determined to make money off financing one way or the other.
 

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Del Solstice said:
My credit rating is excellent and I can get 4.99% at my Credit Union. Last I checked (late August) GMAC wanted 7.49%. Why bother with GMAC just because of the "deal" to postpone first payment for 90 days. Or is it really only 60 days. Read their paragraph and go figure?!
Bingo! My credit union ran a special in August for 3.89% (as long as I use it before September 30th!) Come on, Pontiac, get that Mysterious #506 the 90 miles over to Maryland SOON! :willy:
 

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Primus said:
Here is something that my dealerships finance manager told me. Maybe someone here like SD or CC can back them up.

I financed my car through Capital One Auto. I had everything set up before I went to pick up the car. Preapproved and didn't need my credit run or anything.

First they tried to talk me out of using capital one. Probably couldn't get me a better rate, but they wanted to run my credit through the ringer anyway.

I told them in no uncertain terms that I was sticking with Capital One because they have been very good for me to do business with and I wanted to stick with them.

They said that it isn't a problem. Then they said that there is a $560 fee whenever you finace through capital one and that they had to add that into the sale price. I told them that capital one didn't mention anything about that. I'm really starting to feel like I got screwed out of $560 here.
That's a bunch of BS! If Capital One is going to charge you a fee they would have told you up front, it wouldn't be part of the purchase agreement for the car. There shouldn't be any type of finance charge in the purchase if you walk in with a check, no matter where the check came from. As far as the dealer is concerned you just paid them with cash. I'd demand the $560 back or tell them you are going to talk to an attorney about this mysterious charge.
 

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Ok I am sure that the 560 charge is crap. Second, I am not going to say NOT GMAC, cause it would hurt their feelings. (GM: don't read this!! GMAC's rates are worse than most banks, so the deffered payment options are really only for people with sub-perfect credit) Don't let em push you around guys!!!! Remember if you have any problems with the delivery of your new car, leave the car there and contact HQ. As long as you have a deposit with them, the dealer is usually bound by their own contract to hold it for you until you can work out the details (even if "details" means making sure the dealer isn't screwing you).... Does that about cover it, SD?
 

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cadillacricket said:
As long as you have a deposit with them, the dealer is usually bound by their own contract to hold it for you until you can work out the details.... Does that about cover it, SD?
That would be a good time to read each person's purchase/buyer agreement.

In Massachusetts, you have 48 hours after you have been notified the car is ready to take delivery and make payment or the dealership may sell the car to another buyer.
 

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Primus said:
Here is something that my dealerships finance manager told me. Maybe someone here like SD or CC can back them up.

I financed my car through Capital One Auto. I had everything set up before I went to pick up the car. Preapproved and didn't need my credit run or anything.

First they tried to talk me out of using capital one. Probably couldn't get me a better rate, but they wanted to run my credit through the ringer anyway.

I told them in no uncertain terms that I was sticking with Capital One because they have been very good for me to do business with and I wanted to stick with them.

They said that it isn't a problem. Then they said that there is a $560 fee whenever you finace through capital one and that they had to add that into the sale price. I told them that capital one didn't mention anything about that. I'm really starting to feel like I got screwed out of $560 here.
You ARE getting screwed. Find another dealer.

I use Capital One / PeopleFirst (merged) for all my cars, I love the Blank Check they give you, easiest car purchase ever, my Lexus took a whole 30 minutes since I test drove it until I paid for it and was out the door! I won't use anyone else, ever.

GM should take a page out of the Lexus Dealership training manual, not only is the customer always right, you bow down and serve him OR ELSE!!!
 

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I agree I am getting screwed, and I'm going to call Capitol One, but I wasn't using the checks. It was a thing where you get approval online and then get an approval code. Then you need to go to participating dealers, which mine was.

Lets see what Capital One says.
 
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