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My dealer tried the same trick - I was trying to lock in financing from a 3rd party lender (a challenge with the shipping delays and rates going up). The dealer told me a new policy was that I could only finance through them, and I had to finance - no cash deals. And their interest rate APR was 2% higher than my bank.
I told them I would just write the check. They fought me on that, and said they wouldn't sell me the car unless I agreed to their financing. I told them I'd walk away. They called me back and agreed to a cash purchase, as long as there was no lien on the car (no hidden lender I wasn't telling them about). There won't be.
I was deeply annoyed. We had a deal; I understand the economics of supply and demand, and I understand that MSRP has gone up and my "price protection" won't cover the full increase (only 87%). But don't change the fundamentals of the deal on me after 10 months of waiting. They blinked, but they burned away an enormous amount of my trust in the process.
Can't you just use their financing then refinance it afterwards?
No, they required me to make payments for six months. They were already 2 points higher than the rate I had secured. Six months from now rates will be even higher. So… screw it, I’ll pay cash.
I'll add my name to the few (it seems) who ordered a 130. Interestingly, I made a slight change to the order last week and JLR moved my build date to 1 Dec, 8 days earlier. I feel like they're being optimistic but we'll see. Chose the SE for the Windsor Tan leather and white roof options. I also like the look of the 19" rims, hopefully it doesn't look awkward on such a big car. The black pack seemed to show a flat black on any black parts of the car when configuring on the online builder, does that seem right?
Apologies for the multiple pictures. I included the full sheet in case others were interested in seeing what comes standard.
No, they required me to make payments for six months. They were already 2 points higher than the rate I had secured. Six months from now rates will be even higher. So… screw it, I’ll pay cash.
i was told the same thing on three separate occasions with three other dealers (Jeep, Mini, BMW) and I refinanced within two months each time, with no penalties or repercussions. Twice the original contract said there would be a $75 penalty but that was never charged.
