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Rant: my payment jumped $112 after the dealership 'fixed' my trade-in numbers
I was sitting in the finance office in Modesto signing papers when I noticed the monthly number was $112 higher than what we shook hands on an hour earlier. Turns out they slid in a warranty and some gap coverage I never asked for, and the sales guy kept saying it was already in the deal. I made them print a new contract without it right there, and it took about 40 minutes of me not budging. Now I'm wondering if I should just refinance somewhere else anyway since my rate is 9.4 percent. Has anyone actually gotten a better rate on their own, and did the dealer fight you on it?
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terry114d ago
A $112 bump is annoying but you caught it and made them fix it, so you already won that round. Dealers pull that warranty and gap stuff all the time, it's basically their whole business model in the finance office. On the refi thing, 9.4 percent is pretty rough unless your credit is bad, so yeah, checking a credit union or your own bank makes sense. But rates are high right now everywhere, so don't expect some magical 4 percent, you might shave a point or two at best. Not sure it's worth the hassle unless you're planning to keep the car a long time.
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