Dealership says not accepting outside financing?!

[MJbronco]

The dealer doesn't make any extra for financing as the credit company is making the interest. The rate is set via the bank and sent over to the dealer. They however will work you on the payment price rather than a cash price allowing them to manipulate the way you look at the value. Outside financing is just a cash deal and if you have navy fed, they can't compete unless there was a 0.0 special rate from FMC. I could see them not wanting to do the leg work for you, like sending documents to the bank... but it seems too ridiculous. A cash deal is a cash deal. Less work for the same money, only difference is that the vehicle may sit a few extra days waiting on checks. Honestly it's sounds like this dealer is just not worth doing business with.

So basically they told me that sometimes the financing from outside takes too long or the money doesn't come through. So it's easier to use FMC. A bunch of BS. They offered 2.5k over sticker price, I told them I'm better off just ordering and using X-plan with another dealership. They offered 2k over sticker and take off all the add ons which saves another 500 ??

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[Mackiebronco]

I'd find another dealership. Mine gave me no issues with using my credit union.

 

[GCross762]

I'm assuming they have to make some additional money or kickback from their lenders. Or else they wouldn't push it so hard

Coming from a dealer they make money BIG MONEY. They get a kick back on financing. Lets say they get you approved for 2% then what they will do is add on 1+% look at the monthly payment and say is this in your budget. One reason they ask what you can monthly afford is their goal to jack up the rate till it equals your allotted monthly plan. Then there is that deal with Ford XPlan. They make more money off the A-X plan than a regular guy off the street. As for not allowing outside financing well like I said they get a kick back.
Dealers dont have to honor the A-X plan at this time due to the shortage of cars issues.
I really dont think there is a law that stops them from accepting your outside money. Might want to google it or talk to a lawyer, or call the Ford customer hot line and ask them. Ive seen dealers do shady things that Ford ended up pulling their support like warranty payments or the actual franchise for a time or even permanently. I worked for a dealer that got their warranty work pulled for a given time and when it got reinstated every warranty job had to be called in and pre approved.
Just my two cent.

 

[MJbronco]

I'd find another dealership. Mine gave me no issues with using my credit union.

Yeah I'm not in a rush, so maybe utilizing my X-plan pricing and ordering one would make sense. They told me they would gladly help me order one, and I told them why would I order through them when they haven't worked with me at all through out this process

 

[MJbronco]

OP being in Pennsylvania, I can't comment about the legality of it there, but some states don't allow dealerships to refuse outside lenders. The other alternative is to speak with the bank that pre-approved and see what they can do to help. They'll want to lend the funds if they can, that's how they make their money after all. if they will issue a bank check for the purchase or directly fund OP's account, then it's all the same as cash as far as the dealership is concerned.

Interesting that the BS was originally spoken for but now available again. In this market if they can't sell a Bronco Sport, there's something up with that dealership. Talk to them and see if they'll deal, but if they're charging ADM or excessive fees or jerking people around with financing demands or whatnot, probably best to just go elsewhere. Although it's a bit of work to round one of these up that are not already spoken for if they're at a dealership or en-route.

I'm wondering more and more now whether they lied about the Area 51 being spoken for. They keep telling me it's there hottest seller in the most popular color....so why did this original deal fall apart then?

I feel like they knew I liked that color better, they tried to get me in a carbonized gray which I wasn't sure about. Then all of a sudden boom the Area 51 is available and we can jack that price up on him

 

[JerryC]

I'm wondering more and more now whether they lied about the Area 51 being spoken for. They keep telling me it's there hottest seller in the most popular color....so why did this original deal fall apart then?

I feel like they knew I liked that color better, they tried to get me in a carbonized gray which I wasn't sure about. Then all of a sudden boom the Area 51 is available and we can jack that price up on him

My salesman told me area 51 was the most ordered color. It might just be timing but I've seen one other area 51 at that dealership.

OTOH, a different salesman at different dealer called it the ugliest color he's ever seen.

When I ordered, I had seen a BS in just two colors, White and Black. So we looked at the brochure, the website and YouTube and rolled the dice on Area 51. The guy that abandoned that BS may have finally seen one in real life and decided it wasn't what he wanted.

Or he could have been waiting for months like us in the Lot Rot and just went a different way.

I will say that Area 51 is a color that women love. We get gushing comments on the color from the ladies.

 

[MJbronco]

My salesman told me area 51 was the most ordered color. It might just be timing but I've seen one other area 51 at that dealership.

OTOH, a different salesman at different dealer called it the ugliest color he's ever seen.

When I ordered, I had seen a BS in just two colors, White and Black. So we looked at the brochure, the website and YouTube and rolled the dice on Area 51. The guy that abandoned that BS may have finally seen one in real life and decided it wasn't what he wanted.

Or he could have been waiting for months like us in the Lot Rot and just went a different way.

I will say that Area 51 is a color that women love. We get gushing comments on the color from the ladies.

Yeah you could be right, the waiting part did cross my mind.

?? So yeah I haven't seen the color in person, but from pictures and the color book at dealership I think it's a cool color. What do you think about it? I mean if the ladies love it that's a good thing right?! ?

 

[JerryC]

Yeah you could be right, the waiting part did cross my mind.

?? So yeah I haven't seen the color in person, but from pictures and the color book at dealership I think it's a cool color. What do you think about it? I mean if the ladies love it that's a good thing right?! ?

It's a very light blue in the sunlight, closest I can think of is US Infantry blue. I was hoping it ran more towards grey like in the brochures.

My dad was Infantry so it does have a sentimental appeal.

Over time it has really grown on me. After a few decades of black, or metal flaked cars the solid color looks really nice. Having the ladies fawn all over it doesn't hurt either

 

[MJbronco]

It's a very light blue in the sunlight, closest I can think of is US Infantry blue. I was hoping it ran more towards grey like in the brochures.

My dad was Infantry so it does have a sentimental appeal.

Over time it has really grown on me. After a few decades of black, or metal flaked cars the solid color looks really nice. Having the ladies fawn all over it doesn't hurt either

Yeah it's definitely an interesting color. Overcast days does it lean more grey?

Infantry blue is great comparison! Thanks to your Dad for his service.

I think I'd really like this color so here's to hoping I can work this deal out!

 

[Desert Bronco.]

I'm assuming they have to make some additional money or kickback from their lenders. Or else they wouldn't push it so hard

Just get their crappy loan and then refinance it or buy it out with cash. Ask them for a copy of the loan agreement and look for a prepayment penalty. Don’t tell them what you plan to do. Hush hush

 

[RSH]

If you actually have outside financing that's pre-approved, won't your bank cut you a check that you can take to the dealer? The dealer would have to give you a purchase order that you give your bank.
As far as the dealer is concerned it would be a cash deal. Dealers also play both sides and want you to fill out a financing app to see if you will qualify for their loan in case your bank loan falls through. They will also push people to take the vehicle, knowing people will react on emotion and can then get stuck with unfavorable loan term.

On another note, if you can qualify for Ford factory financing, the rate on the BS isn't too bad right now, 2.9% for 60 months.

 

[MJbronco]

If you actually have outside financing that's pre-approved, won't your bank cut you a check that you can take to the dealer? The dealer would have to give you a purchase order that you give your bank.
As far as the dealer is concerned it would be a cash deal. Dealers also play both sides and want you to fill out a financing app to see if you will qualify for their loan in case your bank loan falls through. They will also push people to take the vehicle, knowing people will react on emotion and can then get stuck with unfavorable loan term.

On another note, if you can qualify for Ford factory financing, the rate on the BS isn't too bad right now, 2.9% for 60 months.

Yep I have the pre approval check ready to go, they've told me they aren't accepting outside financing. Obviously there is some kickback/commish for get customers to use Ford credit

 

[MJbronco]

Just get their crappy loan and then refinance it or buy it out with cash. Ask them for a copy of the loan agreement and look for a prepayment penalty. Don’t tell them what you plan to do. Hush hush

This is kinda the way I'm leaning, I'll talk to them today and see if I can get a look at the loan agreement.

 

[Bronclahoma]

So I was in market for BS BB, wanted the Area 51 but the one in transit to dealership was spoken for (I'm assuming there was deposit on it). They had same vehicle just carbonized gray on the lot and we talked leasing but I ultimately didn't pull the trigger. I recently was pre-approved through my bank and the Area 51 that was previously spoken for is now available.

I talked to the guy at the dealership today and he said they wouldn't be accepting outside financing on this vehicle...doesn't make sense to me and feel like they are playing hard ball trying to push me towards Ford credit or possibly leasing through them.

Is this typical or are they giving me the run around, any thoughts on how I should proceed? This is the vehicle I want. Also, I qualify for X-planpricing which they will only take on orders, which is understandable....but not accepting outside financing doesn't make sense to me.

Thanks for any help!

 

[Bronclahoma]

So I was in market for BS BB, wanted the Area 51 but the one in transit to dealership was spoken for (I'm assuming there was deposit on it). They had same vehicle just carbonized gray on the lot and we talked leasing but I ultimately didn't pull the trigger. I recently was pre-approved through my bank and the Area 51 that was previously spoken for is now available.

I talked to the guy at the dealership today and he said they wouldn't be accepting outside financing on this vehicle...doesn't make sense to me and feel like they are playing hard ball trying to push me towards Ford credit or possibly leasing through them.

Is this typical or are they giving me the run around, any thoughts on how I should proceed? This is the vehicle I want. Also, I qualify for X-plan pricing which they will only take on orders, which is understandable....but not accepting outside financing doesn't make sense to me.

Thanks for any help!

I've been out of the auto finance business for 20 years, obviously not current. But, I believe this practice violates FTC regulations and the Uniform Commercial Code. I'd call my state attorney general's office to confirm and then file a complaint against this unscrupulous dealer. He's a shyster and will end up screwing you. If not on this issue another. Run.

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