Appalled and Dismayed (but not Shocked)

[Tdbo]

Originally Posted By: CharlieJ
Be a true BITOGer and buy a Ford.

Already own three of them (I'm doing my part.)
I might add I did not go into the Chevrolet dealership to "deal."
I was looking to get some ideas as to what I might by if I succumb to Mrs. Tdbo's wishes. For the record, I visited Hyundai, Honda, and Ford dealerships the same evening.

 

[Steve S]

IThe family has 2 Fords and 2 Toyotas.

 

[Tdbo]

Originally Posted By: wallyuwl
Do you know it was a GM corporate incentive? Or was it from some bank that particular dealer uses? Maybe that rebate was a way to get poeple with bad credit into a car in a way that lowers the price, so with the extra interest (due to their bad credit) they can still afford the monthly payments on the car. And the financing arm still gets their money because of the higher interest costs. Lots of people who can still pay their bills have bad credit for a variety of reasons.

Like was said, I think your assumptions and presumptions got the best of you.



I haven't driven an Impala (the new version - had a 2002 and generally liked it but too many problems), but the 2008 and newer Malibus are very nice. My only complaint with those is the lack of head room.


It was presented to me as a GM Corporate incentive.
I fully understand what was said, and no my assumptions and presumptions did not get the best of me.
I also fully understand the intent and purpose of the incentive.
I could say more about the incentive but I'm going to refrain from doing so.
And also, my "GM Bias" refers to my personal preference and the level of luck that I have had with their product.

 

[whip]

Originally Posted By: Tdbo
They weren't going to cut me nothing. What else can you interpret from a rebate that the criteria for qualifying is that your FICO score has to be less than 500 to qualify?

The people with good credit qualify for the good finance rates. Those with [censored] credit, don't so they give this rebate to sell more cars. Simple business. I wouldn't be surprised if Ford is doing it as well.

 

[wallyuwl]

Originally Posted By: Tdbo


It was presented to me as a GM Corporate incentive.
I fully understand what was said, and no my assumptions and presumptions did not get the best of me.
I also fully understand the intent and purpose of the incentive.


You said you were told if your credit score is bad, you get an extra $2000, and you walked away. If that is the case, then you can only THINK you know the intent of the incentive. You didn't give the sales person the chance to explain the details to you. If you let him explain it, then you didn't give us the full story.

In the beginning when I first read the original post my [censored] meter went off. Just now I checked GM's web site, and there is nothing there about a bad credit $2000 incentive. I did their online chat, and this is my conversation:


Ainslee F: Welcome to Chevrolet.com! How may I assist you?

brian: someone just told me when they were shopping for a 2010 Impala that the sales person told them if they had a FICO score of under 500 they got an extra $2000 off in the form of an incentive from GM. do you know anything about this?

brian: this would be on top of the $4000 cash back and $1000 from the AARP promotion

Ainslee F: I apologize but I do not know of any incentive that fits that description.



It is probable the sales person didn't know what they were talking about and you formed an opinion based on that. We all have inclusion and exclusion criteria for our vehicle choices, and we're free to make those criteria whatever we want them to be. But you might have just excluded a vehicle (and company) you might have liked very much (and gotten a good deal on) over something stupid.

 

[wallyuwl]

Originally Posted By: whip

The people with good credit qualify for the good finance rates. Those with [censored] credit, don't so they give this rebate to sell more cars. Simple business. I wouldn't be surprised if Ford is doing it as well.


This is what I said previously might be going on. They sell the car for less, but get the money back as part of the interest paid. According to GM customer service, they aren't doing this as a corporate incentive. That isn't to say it isn't part of what GMAC does on their end. In that case it is a financing arm thing, not a GM corporate thing.

 

[Herz]

Originally Posted By: wallyuwl
Originally Posted By: mechanicx
Originally Posted By: LT4 Vette
BTW, did you see those UAW bums smoking marijuana and drinking beer on their 30 minute break, its all over the net and is very funny to watch until they are caught by a news reporter and film crew.


Because non-UAW workers never do that and I guess Ford and Chrysler or out since they are UAW too.



And those individuals have since been fired by Chrysler. The execs took the issue very seriously once they found out about it.


even though they were fired they probably have a nice check coming in monthly, they were union afterall.

 

[wallyuwl]

Originally Posted By: defektes

even though they were fired they probably have a nice check coming in monthly, they were union afterall.


That is something that would be interesting to find out. I'm sure it is company policy you can't be intoxicated on the job, and if fired for something related to that (which they were - if they drank and smoked week on their break and returned to work they would have obviously been intoxicated on the job) they might not get any monthly payments.

But who knows? Like you said, they are union, and a big, powerful one that is mostly about bleeding the parent companies dry.

 

[mechanicx]

I don't think they would get any severance if they were fired. Contrary to popular opinion UAW employees don't get a big check even after they retire. The truth is foreign manufacturing and owners and other factors have bled US manufacturing dry union, non-union even near minimum wage in some cases.

 

[moving2]

Tdbo- I think it's hilarious that you let your preconceived notions and politics get in the way of a car purchase when the finance incentives you speak of have NOTHING to do with politics- they are just part of doing business. I wonder why you did NOT ask the salesman for the interest rate on the loan with the $2k rebate for
When you say it was "presented to you" as a GM corporate incentive- it doesn't sound like you did much investigation before jerking that knee. Did you SPECIFICALLY ask if the incentive was from GM or the dealership's own financing arrangement? If so, what was the salesman's response? If not, I think your knee-jerk reaction speaks for itself. If you were trying to make a political statement, I'm sorry to say you've exposed your lack of understanding of how finance works instead.

 

[whip]

Originally Posted By: moving2
Tdbo- I wonder why you did NOT ask the salesman for the interest rate on the loan with the $2k rebate for div>

He's happier hating GM. Why let facts ruin that?

 

[bigmike]

The said UAW workers that were "caught" should have been put in jail. What they did was break the law and they should be classified as criminals. I guess drinking and driving, possession of controlled substances, intoxicated in a public park, and reckless conduct (possibly reckless endangerment, if it is proven that vehicles they assembled caused accidental death) aren't applicable to these guys.

Why should I pull out my bleeding heart for people that have disregard for safety and the law?

 

[Nick R]

I agree with Moving2. You went in there looking for an excuse to hate GM and not buy one of their products. Which would be fine, I ca understand that. But blaming GM for giving a rebate on a new car with likely a much higher inteerest rate- and then not even doing your homework on it, just a knee-jerk reaction, is just lazy. I'd go back to the dealer, and ask.

 

[The_Jeff]

It's from the dealership.

I would actually play their game. Tell them you have a well paying job but don't want to show them your pay stub or prove you're an american citizen. It demeans you and you don't want strangers knowing your business. When they show you a contract with 18% interest just say, "that's a good rate, right"?

Then when you get the car for $15k turn around the next day and pay the whole thing off.

 

[PF52]

Originally Posted By: moving2
Tdbo- I think it's hilarious that you let your preconceived notions and politics get in the way of a car purchase when the finance incentives you speak of have NOTHING to do with politics- they are just part of doing business. I wonder why you did NOT ask the salesman for the interest rate on the loan with the $2k rebate for


I agree 100%.

Tdbo, why doesn't MY Chevy dealer offer this "GM Corporate" discount? Oh, I see.... Its not REALLY from GM, now is it.

I bet that someday if that salesman moves across the street to Ford, Toyota or whoever, he'll still be trying this "discount" tactic.

 

[VNTS]

Geez

Edmunds has no such incentive listed for 2010 Malibus, I will call [censored] on this guys post about 2000$ for poor FICO

From Emdunds for Malibu LTX

$3500 Cash to Customer start: 09/14/2010 end: 11/01/2010 Get Dealer Pricing
Restrictions $3500 Customer Retail Cash may not be combined with 0.00 % APR and vehicle must be financed through the manufacturer's captive finance company.
Comments Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement.
$500 Cash to Customer start: 10/30/2009 end: 10/30/2010 Get Dealer Pricing
Restrictions $500 Bonus Cash available to members of the National Community Action Foundation (NCAF) toward the purchase or lease of an eligible new and unused Buick model. Must provide proof of membership. Offer is transferable to individuals residing in the same household. Please see dealer for program details.
Comments Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement.
$750 Cash to Customer start: 01/01/2010 end: 12/31/2010 Get Dealer Pricing
Restrictions $750 allowance is available to United Services Automobile Association (USAA) members towards the purchase or lease of select vehicles. On leases, allowance must be used to reduce the capitalized cost and may not be offered as cash to the customer. Offer is non-transferable. See dealer for details.
Comments Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement.
$1000 Cash to Customer start: 09/08/2010 end: 11/01/2010 Get Dealer Pricing
Restrictions $1000 Toyota Conquest Bonus Cash is available to current owners or lessees of a 1999 or newer Toyota or Lexus passenger car or light duty truck towards the purchase/lease of a new 2010/2011 Malibu. Trade-in not required. Offer is transferable to individuals in the same household. See participating dealer for details.
Comments Dealer participation may vary. Incentives and Rebates are provided subject to the terms of our Visitor Agreement.

 

[mechtech2]

Maybe he only offered that 2k rebate AFTER he heard you had good credit!

 

[saberz]

There is no problem with GM or Fords, its opinion. Some people are GM guys, others Ford guys. I let the vehicles do the talking, not some dealer salesman.

You have to factor in a few things here. The guy may have said the $2k FICO score discount to try and coax you into sitting down and working numbers. They will say anything to talk you into a sale. You figure they deduct 2k off the sale, but kill you on interest(2k is nothing when your paying 8-12% finance or higher).

My research leads me to this conclusion. This isn't an officially known rebate/corporate issued one. This is a dealer made propaganda scheme to get all walks of life in the door and sell them a car. Visit a more reputable dealer and stop beefing on GM. God knows there is a lot of mud to sling at every car manufacturer, and don't say there isn't.

 

[opus1]

This is exactly how I felt about all of the 100% financing/no-doc mortgages that were available not too long ago because everyone had the "right" to be a mortgage-holder.....

But back on-topic, I did some poking around late last night and found that any "bad-fico" rebates out there appeared to be offered by finance companies and not the manufacturers. So the same con-artists that imploded the housing market are probably working on the auto market now. Also found many references to the old C4C program....but I'll stop now lest this thread veer towards politics.....

 

[Tempest]

http://www.cardealexpert.com/news-inform...-credit-scores/

First sub-prime mortgages, now sub-prime car loans....