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So, I ordered my Enclave CX on July 27th and I got delivery by September 5th, actually they got me to go on Aug. 31st to sign all of the paperwork. the price I had agreed was invoice plus $1000, through the costco program.

I go there on Aug. 31st and they treat me really rough. they put all kinds of fees, and put a 9.5% interest rate on the vehicle, and basically told me it was take it or leave it, they could sell the car for a lot more if I didn't take it.

I was furious and mad, but in the end I signed ... including an excessive wear and tear policy. My lease for 39 months, 15,000 miles per year is $700 (quite expensive, wouldn't you say?)

I felt really handled in a rough way, but I really wanted my Enclave.

Fast forward to last week.

I receive a call from their finance dpt, saying that GMAC hasn't funded the deal because they don't offer the excessive wear and tear policy anymore (for $500, all maintenance included, plus no penalties for a number of issues when giving the car back, such as tires, etc.).

So they just fedex me the new paperwork, to sign, without the maligned policy.

I am still so upset at them, that I am considering calling them and saying that they either lower my interest rate or they can have their car back. The car has now 850 miles on it, and I want to know how strong would my negotiationg position be ... would they loose more by getting back the car? or by lowering the interest rate. Mind you, they put all kinds of dealers and advertising fees on it, so I think they are getting enough money from me already.

Ideas? do you think I should tell them I want an 8.5% or they can have their car back? in the end, its them breaking the deal ... or not? :help:
 

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OK, I feel bad that you're hanging out there with no response -- I think a lot of us don't know exactly what to tell you, but I'll give you my 2 cents worth.

Be warned: without actually reading any of your paperwork, it will be hard for any of us to give you good, actionable advice.

Thoughts:
1. $1,000 over invoice -- presumption here is that we're talking dealer invoice. If you're in a major metro area, invoice is NOT Edmunds invoice or KBB invoice -- invoice is that price, PLUS Marketing and Advertising Fees that are included on the dealer's invoice. That doesn't mean the dealer won't get those fees back from GM -- but it ends up being a point that you will have a very hard time contesting.

2. You should always know the lease rate information ahead of time. Buy rate for GMAC Enclave lease is 8% -- most dealers I've talked to are quoting 9% and they will get it unless you know what their buy rate is, put up a fight and negotiate with them. They want to make money on your purchase AND your financing. If you paid cash, or financed elsewhere, they wouldn't make anything beyond your basic deal -- so as long as you know how it works, then at least you have a fighting chance. The residual for your 39 mo/15K year lease s/b 59% of MSRP (this is simple, use a calculator and figure it yourself). You should also look for another thread where I've posted the detail of how easy it is to figure your lease payment.

3. The point about GMAC not "funding" it -- pure and utter :bs: -- the GMAC policy is that they will "fund" up to over 10% of your sales price for accessories (so if someone wanted to add the side steps or the roof rails, they could do this, have it added to their capitalized cost and it would become, simply, a part of their lease payment). On a side note, a policy of this kind is utterly useless and a waste of money. GM is probably one of the most lenient leasing co's out there for wear and tear (personal experience).

4. I have no idea of whether you could refuse to sign the paperwork -- they might simply try and repossess the car -- but I would try calling GMAC direct and see what recourse you have and what they might do. It's VERY unlikely you are going to get them to reduce your rate from 9.5% to 8% or 8.5%. But, you might try telling them they can have their car back, you're not signing it and see what they say. I'm going to suggest, too, that you contact your State's Attorney General's office -- see if they can help you on this, at least as far as being forced to resign something. This would seem to fall into deceptive practices category and they might be able to provide some help.

I guess the moral to your story is -- you were so star-crossed by the Enclave that you lost your mind and bit on the bait. You are now paying the price -- a potentially expensive lesson that everyone else hopefully can learn from and avoid in the future.

Good luck and let us know how it turns out.
 

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My thought is that they have wiggle room on the finance charge as design said -- I would go into the dealership with your new paperwork, ask to speak to the sales manager in person. Explain to them exactly how you feel, and that you are a first time Buick buyer, and that you love your car, but feel as though you were taken advantage of and you want to be able to recommend not only the car but the dealership to the many people who ask about your Enclave. Tell them you have contacted GMAC and that you know that the current lease rate is 7.9%, and that on top of everything you have paid in fees, etc., that 8.5% seems like a more fair lease rate, even though it is still high. I found throughout my purchase and some other issues that have come up, that killing them with kindness works well...In the end, before we decided to pay cash, and we were still looking at leasing, they offered to drop the lease finance rate from 9.0 to 8.5. Good luck. Lisa
 

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Design and Lisa gave you the best advice possible with the information provided.

The only thing I can add is that if you are going to treat this as an opportunity for renegotiation, you need to get alternative financing options in place ASAP. Get a pre-approval on a car loan from a credit union or good local lender and find a better lease from an independent third party. Those options will put pressure on the dealer as Lisa noted and you can work a better deal without having to resort to using the alternatives. Without real options, the dealer has the upper hand unless you are prepared to walk - which it sounds like you may not be.
 

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Contact www.penfed.org for new car loan. 5.29% for up to 72 Months. Anyone can join only costs $25.00 total to join. ($20.00 to join National Military Family Association (NMFA) is a leading non-profit advocacy organization for military families & $5.00 to open a savings share account).

Then have them send you an approved loan check pre-apporved up to a specified amount and buy the vehicle over 5 or 6 years for less than the lease rate.
 

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I had a somewhat similar problem with my first order. The car came in and they said the lease rate had gone from 8 to 9% and that they had quoted me the wrong residual when i'd been there before, the new numbers put the price at well over $600 a month, at least $75 more than the original estimates. I also felt that I was not being treated well. They had a take it or leave it attitude, I think they may have already had someone else make them an offer for the car. So I left it. I've reordered from a different dealer about 2 hours away, the numbers were much better and it may have been because of the interest rate. I still need to clarify the rate but didn't push the question because the numbers were where I wanted them. The car should arrive in November and hopefully it won't be the same experience again. So, I guess that is not really advice, but if I were to give it, I'd say see if you can just say no, and walk away... find a different dealer and start over.. so far I have no regrets over walking away from the first dealer.

Hey, I just noticed that you are in Jupiter, I used a dealer in Palm Harbor, near Clearwater, offers costco discount and very nice, if you want more info, send me a PM.
 

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me said:
So, I ordered my Enclave CX on July 27th and I got delivery by September 5th, actually they got me to go on Aug. 31st to sign all of the paperwork. the price I had agreed was invoice plus $1000, through the costco program.

I go there on Aug. 31st and they treat me really rough. they put all kinds of fees, and put a 9.5% interest rate on the vehicle, and basically told me it was take it or leave it, they could sell the car for a lot more if I didn't take it.

I was furious and mad, but in the end I signed ... including an excessive wear and tear policy. My lease for 39 months, 15,000 miles per year is $700 (quite expensive, wouldn't you say?)

I felt really handled in a rough way, but I really wanted my Enclave.

Fast forward to last week.

I receive a call from their finance dpt, saying that GMAC hasn't funded the deal because they don't offer the excessive wear and tear policy anymore (for $500, all maintenance included, plus no penalties for a number of issues when giving the car back, such as tires, etc.).

So they just fedex me the new paperwork, to sign, without the maligned policy.

I am still so upset at them, that I am considering calling them and saying that they either lower my interest rate or they can have their car back. The car has now 850 miles on it, and I want to know how strong would my negotiationg position be ... would they loose more by getting back the car? or by lowering the interest rate. Mind you, they put all kinds of dealers and advertising fees on it, so I think they are getting enough money from me already.

Ideas? do you think I should tell them I want an 8.5% or they can have their car back? in the end, its them breaking the deal ... or not? :help:
Unless you put more than $1800-2300 down pay, you got a fair deal! Not a great one-a fair one! The car is HOT!!! I pay about the same w/ 10k miles a year and just $ 1800 down on a $44,000 (plus tax) lease deal ! (yes I paid just under MSRP! :banghead: we needed/wanted a car bad! :( )
If you like it keep it. If not tell them , No DEAL: and give it back! you will have to pay use fees of at least several hundred dollars minimum! I'd keep it as you got a good price (1K over invoice! Not MSRP. Right?)
 
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