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05-14-2008, 04:08 PM | #24 |
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On one hand I see where the dealer is coming from not wanting to pay some huge percentage of their profit to Visa/MC, but on the other hand they are the ones that agreed to the terms laid out by Visa/MC. It's not like they are required to accept Visa/MC by law. They decided that they wanted to accept Visa/MC for oil changes and parts orders, and in turn they signed an agreement with Visa/MC that says that they also have to accept those cards for the full purchase price of a car. They knew that going in, and they try their best to bully people into not using their cards, but occasionally a savvy buyer comes along that knows the rules, and in those cases I think they need to just suck it up and accept the card.
Not to mention they get kickbacks like this themselves by financing people through certain banks. Some finance guys will even lie and stick people with a rate that is a littler higher then the lowest rate available because they get a bigger kickback from the bank with the higher rate. If they can pull crap like that to make money, then I see no problem with the occasional savvy buyer sticking them with the Visa/MC bill after buying a car. I'm going to try to pay my down payment on a Visa and see what they say. However that's only going to be about $10K, so it's not as bad as the OPs situation. Dan |
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05-14-2008, 04:09 PM | #25 |
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05-14-2008, 04:36 PM | #26 | |
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Where is all this "ethical" judgement of me coming from....FOR SIMPLY USING MY VISA CARD!? I am the one playing by the rules here! It's the Dealer who is lying to people and telling them they can't use their VISA cards over a certain amount when the Dealer knows darn well that it is not true ! Trust me,the dealer does not need your sympathy here; they make plenty of money on us as it is, such as the many thousands they will make on my car purchase by selling it to me at $500 below MSRP - BUT WELL ABOVE THEIR COST! They are smart business people and price the car where they can make the most profit given what the market will bear. I accept that, and agreed to buy the car at their offerred price. But how on earth is it unethical for the buyer to use his VISA card to pay for the car that will deliver thousands of dollars profit to the dealer who is in the business of selling me this car !??!!?? I'm at a loss for words at your reactions here.....this is just business. Don't cry for the dealer.........I think they are doing just fine even if I use my VISA ! Boy, with my my little attempt to save money with my VISA, you guys must really HATE the thread about savings $2k off MSRP by Robert Payne ! How I Scored a Fabulous Deal from the Comfort of My Easy Chair I for one will sleep at night with clear conscience, for just (god forbid!) following the rules of VISA to pay for my $40,000 car!! My poor dealer... I hope he survives geting "screwed" so bad !:bs:
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05-14-2008, 04:49 PM | #28 |
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I think the reason some people are taking this so personally is because dealers tend to pass on these sorts of "losses" to the salesman. So it's the little guy, and not the dealer, who is getting screwed in the end.
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05-14-2008, 04:52 PM | #30 | |
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Do you have any idea the profit that is buried into these cars for these guys? And the years of profit on servicing a loyal,happy customer's car? And Again...no one forced the Dealer to agree to VISA's terms....that was their business decision....and has NOTHING to do with me. They can go cry to VISA if they want! So I guess you payed full price so as not to be accused of being "Unethical" in your dealings with your dealer. :bs: Please! Gimme a break guys................
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05-14-2008, 05:02 PM | #31 |
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Let me expand on my original opinion...
Dealers pay a certain amount for the car and sell it for some amount over that to cover expenses and make a profit. In order to maximize profit, they try to make the transaction very complicated so the average buyer is at a disadvantage in the negotiation process (i.e. rip off the consumer). This is an effort by the buyer to do the same thing and screw the dealer back. So all in all, I am for this, but admit that you are sort of screwing them vicariously through Visa. |
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05-14-2008, 05:04 PM | #32 |
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I paid full MSRP, with absolutely no freebies, so the dealer is making a handy profit off me. That's why I have no problem asking them to eat $200 to allow me to put my down payment onto a Visa. However I really want this car, so if they absolutely refuse then I'll just cave and give them a check. That's the price I pay for wanting the car so bad. If you're willing to say "take it, or leave it" then be prepared for them to say leave it and for you to be standing their without your new car.
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05-14-2008, 05:04 PM | #33 | |
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Wow you guys are unreal. Or is naive a better word? Get over it....the dealer is doing fine....and I am not screwing anyone here....I am just playing by the rules! If you don't like the rules...don't play....and go cancel your VISA agreement....and watch your dealership go under because consumers will want a dealer who accepts VISA!!! Then the dealer down the street will get everyone's business! please..........
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05-14-2008, 05:07 PM | #34 | |
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By the way I agree with what you are doing, screw them they aren't exactly the salvation army. |
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05-14-2008, 05:09 PM | #35 | |
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Was that a lease or down payment or something like that? |
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05-14-2008, 05:13 PM | #36 | |
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Next you'll tell me I "sort-of-screwed" the dealer in a round-about way by stripping my car order of all the "extras" like NAV and bluetooth, becuase that's where the poor dealer makes the most profit. My poor poor dealer.....please! Has this become a dealer website or something??!! Please....you're killing me here with this lame logic
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05-14-2008, 05:20 PM | #37 | |
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So after all that, you agree with me. OK....glad you approve Peace.
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05-14-2008, 05:32 PM | #38 | |
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05-14-2008, 05:37 PM | #39 | |
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05-14-2008, 05:44 PM | #41 |
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The more I think about this, the more I agree with pwillcutts. Every business that accepts Visa/MC agrees to pay 2% of the sale as a processing fee. Just because this is a larger purchase and equates to a bigger number shouldn't make a difference. Do you think BestBuy would refuse to sell you a $5K flat screen TV just because it was going to cost them $100 for you to charge it on your Visa? No! Even if that ended up eating away the majority of their profit they'd still take it, because that's the cost of doing business.
Now if the dealer had given pwillcutts some phenomenal deal, and using the Visa was actually going to cause them to lose money on the car, then I could see them making a stink over it. However based on his posts, and the config in his sig, the dealer is making about $2500 off of his car. If they end up eating $800 because he pays for it with a Visa then they will still make $1700. To me that's not a bad profit for selling 1 car. Dan |
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05-14-2008, 05:47 PM | #42 | |
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My point is that this type of activity is why people usually hate car dealers in the first place. Unexpected charges after a deal has been agreed upon. I personally hate when people do it to me, therefore I wouldn't do it to someone else. Your justifications about how much the dealer is making are irrelevant. You're changing the terms of the deal in a way that most any reasonable person would find objectionable. My comment about it being unethical boils down to this: you would object (strenuously, I'd wager) if the dealer attempted to add $800 to your cost for the vehicle after you'd agreed to a price. It all comes down to the Golden Rule, and in this scenario, I don't believe you'd accept an additional $800 charge if the situation were reversed, regardless of the fine print. |
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05-14-2008, 05:48 PM | #43 | |
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05-14-2008, 05:48 PM | #44 | |
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Edit: I've worked with a number of retailers, and got some insight into the difference between invoice and retail for many consumer products. If you choke on the smallish 10% markup that car dealers get, you'd gag when you realize how little Best Buy paid for that $5000 TV. |
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