Just wondering if you already secured financing for the car. When do the dealers make you secure financing? What if you don't qualify for good rates when the car comes in or if someone hijacked your credit?
Derek, please keep us informed of any financing Lotus is going to offer. Just wondering, do you still intend to honor MSRP? I don't have a deposit with you but am just wondering.Canyon Carver said:I'll be financing mine but since I'm so far back on the list I'm not wasting my time looking for any financing yet.
I have a home equity line of credit, so that's my plan also. It makes good sense, because this interest is deductible, unlike car loan interest, and as noted the equity line carries a lower interest rate (because it's a secured loan).Surferjer said:I intend to take a home equity loan out, pay cash at the dealer, and deduct the interest from my taxes over 5 years. I'm going to roll in a couple of other debts, and by paying them off, reduce the effective net cash outflow each month. Plus you can get home equity loans at like 5+%, which I doubt any bank would do for me on a car loan.
1) Gosh..I've been selling Lotus' for five years and have not once financed a single one Ferrari and Maserati both use Chase to finance and Bentley uses VW credit, I don't know who Lotus may have thought to back any financing/leasing issues for the Elise.nxm150 said:Derek, please keep us informed of any financing Lotus is going to offer. Just wondering, do you still intend to honor MSRP? I don't have a deposit with you but am just wondering.
I completely agree! I have my deposit with Derek and he has been a pleasure to work with. If you're not already on a list somewhere, I recommend calling Ferrari of Denver and talk to Derek.nxm150 said:NICE! Finally, a good citizen disguised as a salesman.
ConeFusion said:When I bought my current car, the dealership refused to let me use an online financing institution. They said that they had a few of their checks bouncing, and they wouldn't want to take that risk anymore.
I used an online financing for our Odessey. The dealer took it but bitched about it. The online financing company was real helpful and said that they would wire the dealer the funds. I believe the dealers get a kickback from the bank when they run the financing through themselves.
So, share with us what the gimmicks are. Most of us probably know most of them but dealerships are always coming up with new stuff.smura said:I have a friend who works for Honda of america as a regional sales rep and my uncle works for chrysler as a regional sales rep and they tell me all the gimicks. No wonder auto salemen have the second worst reputation time and time again in surveys. (I forget who the worst is.)
I work for a bank (I will not get into needless self-advertising) that does a lot of on-line auto-financing. The reasons that dealers dont want to deal with the bank drafts is because it is extra work for them, and they dont make any profit from it.I used an online financing for our Odessey. The dealer took it but bitched about it. The online financing company was real helpful and said that they would wire the dealer the funds. I believe the dealers get a kickback from the bank when they run the financing through themselves.