Car Buying Question?

[FTWWTF]

I went to a car lot this weekend, looking at buying a used car. I gave them my basic information. Today they call back said I was approved for financing, and I asked about all the details about payments and money down. The salesman said I ha to bring 500.00 dollars in and we can talk, and then he can sort out all the details.

My question is, is this a normal practice?

 

[Nickelodeon]

It may be normal, but it is not acceptable.

I would recommend that you research the used car you want and compare prices. Personally I spend a few hundred dollars morento get the peace of mind of a certified warranty from an original deal.

Check out auto trader.ca for good comparisons.

 

[WoodPeckr]

He's prepping you for all the upsells that will be coming....

 

[borntosoon]

Don't pay any cash until you know all the terms.

 

[rafterman]

Sounds like a setup for high pressure sale with some 18% vehicle financing at the end of the deal. Any other alternatives for financing the car? Like maybe a bank or credit union?

 

[pu55yz]

It may be normal, but it is not acceptable.

I would recommend that you research the used car you want and compare prices. Personally I spend a few hundred dollars morento get the peace of mind of a certified warranty from an original deal.

Check out auto trader.ca for good comparisons.

Is there any other sites besides auto trader?

 

[peter4025]

Is there any other sites besides auto trader?

Go to Canadian black book. You'll find the book value of used cars. Go from there. Never pay $500 or any other amount until you are ready to sign for the car. Otherwise you won't get the money back.

 

[rafterman]

Is there any other sites besides auto trader?

The Black Book is online now. You can put the car details in the value calculator and it will give a market value.

 

[Capital Amatuer]

I gave them my basic information.

What do you mean by basic? Anything beyond your name, phone number and how much you make? Did you sign anything? Anyone needs your consent to do a credit check.
Seems a little high-pressurred and fast-paced to me. And a little backwards...I'd be choosing the vehicle, agreeing on a price, and then bring up the financing arrangements.
If they want $500.00 to talk with you, they're pressuring. Make sure (as in, get it in writing) it's a 100% refundable deposit if you do go that route.

 

[WoodPeckr]

Is there any other sites besides auto trader?

Kelly Blue Book: http://www.kbb.com/?psid=99999&gcli...=b867cfeb-c700-48b2-8fed-0896d3bca7ee&sissr=1

Edmonds: http://www.edmunds.com/?mktcat=edmunds&kw=edmonds&mktid=ga335398

 

[GameBoy27]

I went to a car lot this weekend, looking at buying a used car. I gave them my basic information. Today they call back said I was approved for financing, and I asked about all the details about payments and money down. The salesman said I ha to bring 500.00 dollars in and we can talk, and then he can sort out all the details.

My question is, is this a normal practice?

Sales guy sounds like an asshole. I'd walk away from this joker. As others have stated, shop around. You'll find the biggest difference in price of similarly equipped cars is mileage. What type of car are you looking for?

 

[miles@divas]

Dont give them ur biz.

 

[DanJ]

I put a refundable deposit down on a used car I bought this past week, but it was after I had picked the car, talked price and financing terms, and had my trade in appraised. This was also at a dealership, not "Bob's Used Cars".

 

[whobee]

So I hate it when sales people say, put some money down and then we will talk. That's pure asshole talk.

I had a dealership manager tell me he wouldn't discuss any pricing with me beyond the website pricing unless I was committed to buying a car at his dealership. In the States buying a car is simpler. The dealer pricing is readily available so the customers can always go into any buying situation well informed. Also no delivery charges so everything is cheaper.

To the original point I didn't put anything down until I knew everything I was getting and saw it in writing.

 

[CapitalGuy]

Do NOT go back to this guy. My sense is that he sees you as an easy mark, an uninformed buyer, maybe meek and easy to trick. But instead of helping you, he is taking advantage of your being a newbie in the car market, to pressure you to commit to him and to steal more money from you than he normally would earn. Whatever you do, do NOT go back to that car lot.