lolz...

What was that advice you gave me a few weeks ago?

don't let your meat loaf?

There's a lot of love in this thread. Someone PM me when you are all ready to sing Kumbaya.

It's just an interwebz forum. ;)

HA HA HA - Thats a trifecta!

Ah...but does your car dealer give its customers advice on financing (shop around...talk to your bank or credit union...) or does the dealer offer to "do them a favor" and finance the car for them (sell them another product) and save them the trouble.

Do the dealers tell the customers that they may add a percentage or two to the APR for themselves after passing the loan over to the finance company.

I agree that it is the customer's responsibility to be educated....but many are not and unlike most retail sales, those uneducated customers are manipulated by the dealer.

added:
Funny thing about "expertise" in the Cellar.

Some only accept it if they agree with that expertise. If that expertise might challenge an opinion, how often is that expertise dismissed around here....just conjecture from personal experience. :)

Redux,
Does your bank tell you that they mark up the rate the Fed sells them the money for? Did you not already know it? If the rate you get is still lower than you can find, have you still been 'manipulated'? Also, it says "The Annual Percentage Rate May Be Negotiable With The Dealer" in bold type right on the face of the contract....

my main objection is the way people point to this or that practice and act like they've been wronged somehow. I'll grant that there are deceptive practices in any business (usually related to advertising), but with the level of regulation and disclosure there is today, you are usually safe at a New Car Dealer.

But if the buyer does their homework, they know what rebates and incentives the dealer is getting on any given day.

I like that. Modern day zen.

Forums should have front door pages that display entrance messages as you enter. Something that sort of sums up the place.

Kinda like the car bumper sticker message bleep.

I dont disagree with most of what you said (the Fed analogy is a bit extreme, since car dealers are not in the business to lend money), but simply that it is a matter of perception and perception is often based or influenced to some degree by personal experiences when it comes to buying a car. IMO, its not enough to say its in bold type in the contract....better customer service would involve the dealer explaining financing options rather than simply promoting their own product...but maybe you do that.

I agree most with the acknowledgment of consumer protection regulations that were sorely needed, IMO, because of a long history of deceptive practices.

But fear not, you beat members of Congress for the first time.

http://sas-origin.onstreammedia.com/...6akocgojtg.gif

http://www.gallup.com/poll/124625/ho...tarnished.aspx

...and probably would have beaten telemarketers and lobbyists if they were included this year.

From 2008:

http://sas-origin.onstreammedia.com/...wmolyyrsca.gif

http://www.gallup.com/poll/112264/Nu...s-Ratings.aspx

But, actually, I was more amused by lookout's comment.

I fucking can't believe realtors don't make that list.

Srsly, they're the worst...

Or cellar owners -'cause we all know Unterdoad is robbing us blind here.....

(hit the fricking tip jar, people)

There is a banking license hanging in my office. I'm a Notary. I'm a licensed insurance producer.

While we do not actually lend the money, we DO write the contracts (indirect lending), and are bound by the same laws that govern a lending institution.

So, I have a 'buy rate' and I can 'sell' it for x points of margin depending on the particular lender's program. I cannot offer a lower rate in order to induce some one to purchase an ancillary products. I cannot present the purchase of ancillary products as a condition of credit approval. I must excercise Fair Lending Practice with respect to race, religion, age etc....If I decide that some one is not worthy of credit, I must generate an adverse action letter detailing WHY I've declined them. I have to check your name against the OFAC list, I have to perform Identiy verification, I must safeguard your personal information, I must keep these records for 7 years..... et-friggin-cetera.



I'm just saying....

This aint no Disco

This ain't no honkey-tonk either.