2022 Order accepted by GM

[Jdm127]

The dealer forced you to take financing, even though you didn't need it?

Yep, guessing it is tough sledding in the car market with no new cars to sell. There way of making a little more cash, unfortunately the little they will make off the fees is easily negated by the loss of any service work from me. Shortsighted in my opinion.

 

[Rruuff Day]

A dealer informed me the other day that they are not accepting cash deals on new C8's anymore. Supposedly a ploy to try and stop buyers from flipping their cars. Who knows....

 

[Hanko_]

A dealer informed me the other day that they are not accepting cash deals on new C8's anymore. Supposedly a ploy to try and stop buyers from flipping their cars. Who knows....

Only 1 dealer? Who?

 

[gone]

Yes, it was at MSRP. The only caveat is since I ended up selling the C7 privately and not trading it in, the dealer made me finance the C8 for the first six months, after that the financing can be discharged. So I was a little bit upset at the extra $1,500 in interest I have to pay for the financing, but I more than made up for that by selling the C7 privately. Really based on not having to go on a waiting list, getting to build the car I wanted, waiting less than 4 months and getting it at MSRP, I should shut up and smile. Which is what I do every time I drive it. Another crazy part about it is that they forgot to ding my CC for the deposit, so when I went to pick it up I hadn't even put anything down on it!!

Deep down I always wanted the C8 but was very happy with my C7, when I phoned around to other dealers after I was given the allocation and they all indicated that I could be put on their lists and would likely be looking at 12-18 months I realized this is too good of an opportunity to pass up and took the allocation.

Good on you; getting MSRP!

About financing, when I bought my C8 I was encouraged to finance, rather than pay "cash" as planned. I refused then the dealer pointed out I could finance any amount interest-free for a year. I pointed out there must be some fees to pay and the finance manager said they'd "credit" me those fees (a couple hundred dollars) so I'd not be out a penny. I questioned how the dealership could make any money doing this but was assured they would. So out of deference to my dealer and since I was so *!%#* happy with the C8 I was about to drive, I agreed to their request, since it cost me nothing (and it didn't). As well, my personal accountant has always told me it's better to use someone else's money, rather than my own, if possible and 0% or an extremely low interest rate where I can make more investing my money, does just that. I mention this as an example of what's likely a bigger picture where dealers are financing cars, even for no interest, and presumably getting some sort of kick-back. Maybe if they do $X millions worth in a year, they're handsomely rewarded? It's a world that we mere mortals know nothing about.

 

[Jdm127]

A dealer informed me the other day that they are not accepting cash deals on new C8's anymore. Supposedly a ploy to try and stop buyers from flipping their cars. Who knows....

Have heard similar. I have actually heard dealers won't even sell new unless you have a trade for them, and it isn't just for C8s but for any new vehicle. With so little inventory I guess that is what they think is best.

 

[Rruuff Day]

Only 1 dealer? Who?

The only dealer I spoke to....and Alberta is a long ways away from Milton Ont.

 

[gdb069]

About financing, when I bought my C8 I was encouraged to finance, rather than pay "cash" as planned. I refused then the dealer pointed out I could finance any amount interest-free for a year. I pointed out there must be some fees to pay and the finance manager said they'd "credit" me those fees (a couple hundred dollars) so I'd not be out a penny. I questioned how the dealership could make any money doing this but was assured they would. So out of deference to my dealer and since I was so *!%#* happy with the C8 I was about to drive, I agreed to their request, since it cost me nothing (and it didn't).

Here is a caveat: In 2017 I bought a Honda CRV. I had the cash but 0% financing for 3 years. I really checked the math and there was no charges etc. So I took my money home and financed (leased). I asked the sales manager why Honda does this and was told "it gives us a second chance to sell you another car".
I liked that I got to keep my money and fortunately the stock market went up. If it went down I would be less happy.
I did not like the monthly automatic withdrawal from my account but that was offset by having more money.
The really bad part was when the lease expired and I was hounded to buy a new car. Emails, phone calls etc. Next, the dealership took 2 hours to process the ownership change (the finance company owns the car) and every time I tried to expedite, someone was gone for lunch or coffee or had another client. Delayed for about 2 hours. Plus I had to pay for a lease buyout inspection that could not be done then so another 2 hour visit.

I bought my C8 cash.

 

[gone]

Too bad about your hassle. My C8 was registered in my name, even though just less than half was financed. I requested my finance company get rid of its interest on my C8 right after it was paid out and they did. No problems for me.