I had some guy tell me that my credit score from equifax was lower than i know it to be (about 60 points), i checked it last week, he said ohh, well we use a special Car dealer only credit score through equifax. I think its some bullshit, but just wondered if there was any truth to it, or he just assumed i was a idiot.

8/24/2006 9:44:15 AM

sounds pretty fishy.... before I bought my last car I also had one tell me they used a special type of KBB to get trade in values and retail values. I had printed out the KBB's for the car I was looking at before I went, but when I showed up they said the KBB on there car was higher then it was, and they used "their special KBB" to show me the trade in was lower on mine that it really was. You gotta watch those car salesmen.

8/24/2006 9:52:27 AM

You should have been like, "I will write you this 'special check' that is worth 30% more than it says in the box."

Both of those things are lies, they just thought that you were uninformed customers that they could hustle.

I bet car salesmen hate the internet.

8/24/2006 10:23:21 AM

Yep tell them you'll take your business to a reputable dealer then.

Thats like these fucking dealers who try to mark cars up OVER MSRP. I had a Chevy dealer in Ahoskie try to do this shit to me one day while I was just asking him about a GTO while I was waiting for a customer to arrive. I asked him what they wanted for it and when he told me, I said, "Wow you won't 7,500 over MSRP?" He said yes thats what they sell for, so then I asked him how many they had moved. He said none in 6 months since they had been released, and I told him, "Well I can tell ya why. I e-mailed a GM dealer in Raleigh (or somewhere, don't remember now) and they offered me MSRP on it and people are talking about them and other dealers like them on the internet because of it. They have already moved 5 or 6 in the same time because they aren't trying to rip their customers off. Maybe you ought to look at doing like that if you actually want to sell any. Customers aren't uninformed idiots anymore." I wouldn't have said this any other time except that I was working a 2 week notice at that point and I really didn't give a fuck if they sent more business to me or not. He wasn't happy, but fuck them rednecks.

He also claimed he would give me about $1500 for my Z-28 on tradein, which at the time was running like a top and KBB trade-in on it even now is $5k for fair and about $6k for excellent.

As you can tell, I told him to keep his fucking GTO.

Just thought I'd show you the kinda shit I'm talking about. The MSRP on a brand new 06 GTO according to the Pontiac main website is an MSRP of $34000 with an auto tranny before incentives. But on the Chas Jenkins website, they have a new 05 Black GTO listed at fucking $47,000! What kinda fucking shit is that?!? Here is the link:

http://www.stricklandautogroup.com/stricklandautogroup_075.htm

[Edited on August 24, 2006 at 10:44 AM. Reason : Fucking thieves]

8/24/2006 10:31:29 AM

car dealers usually go on nada guide values, which are lower usually than kbb values.

bank loans are teh same. it is based on nada guide value, not kbb value.

8/24/2006 10:43:13 AM

they still try to rip you off... thats why i have never bought a car from a dealer, i either buy from somebody I know or get something off ebay...

8/24/2006 12:10:15 PM

and people on ebay never try to rip you off

8/24/2006 12:36:13 PM

an auction listing on ebay is probably THE fairest way to get market value.


assuming the car is as advertised.

8/24/2006 3:21:12 PM

Quote :

"car dealers usually go on nada guide values, which are lower usually than kbb values."

That's backwards...KBB is almost always the lowball.

8/24/2006 3:59:31 PM

ebay is definately the easiest way to get a fair price on a car. if you get ripped off on ebay it is nobodies fault but your own...you just have to know what you're doing and don't do something totally stupid like wiring money or paying in any form without first having the car inspected.

8/24/2006 4:28:51 PM

As far as pricing over MSRP, well they can charge whatever the hell they want, but if nobody buys it at the price then the market just won't bear it. New Z06's had been selling well for way over MSRP, but that's because people actually want the car, while the GTO has sold poorly for a number of reasons (basically people dislike most of the car except the motor). It's basic supply and demand.

8/24/2006 4:55:57 PM

To answer the first question auto dealers actually do recieve a different credit score than you probably would. If you pulled your credit online you probably recieved a FICO score. Car dealers generally recieve what is sometimes refered to as an AUTO Beacon. AUTO Beacons are generally lower than FICO beacons. When it comes down to it though the score itself doesnt really matter too much. The credit itself is what banks look at when they decision a loan.

In terms of book values dealres use Black book to determine trade in values. Black book generaly gives a lower value than KBB but is much more realistic of what a car is worth wholesale. KBB actually really doesnt mean shit. Thier trade in values are too high and thier retail values are too low.

In terms of dealers charging a market adjustment what people will pay for a car is what it is worth. I totally agree if a dealers is trying to charge a $7500 premium for a car that has sat on the lot for 6 months then they are just making a mistake. On the other hand for example when the SRT-8 300C came out a year ago I sold the first one for about $3000 over sticker. At that time there were 3 in the state and about 17 on the east coast. In the case when a car is that rare and someone wants it right then, its worth it to most people to pay a $3000 premium on a $50k car.

8/24/2006 8:41:42 PM