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Originally Posted by bitkahuna
(Post 10429289)
why 2400? leasing is so obviously designed to be as confusing as possible.
覧覧覧覧覧覧覧覧覧覧覧覧覧 A lease payment is composed of an interest portion (borrowed money) and depreciation amount (purchase - residual). The Monthly payment is then Monthly Interest Cost + Monthly Depreciation Cost The Money Factor is used to estimate the amount of interest due in a single month of a lease so you can figure out the monthly payment. If you are borrowing $100,000 then over the entire loan of repayment from a balance of $100,000 to a balance of $0, the average amount you owed was $50,000 (1/2 of principal). You are repaying this loan monthly (1/12 of a year) and percents are expressed as decimals (1/100). 6 * 1/2 (for principal) * 1/12 (for monthly) * 1/100 (to convert percentage from 6% to .06) = 6 * 1/2400. 2400 is the product of 3 consecutive conversion (1/2 * 1/12 * 1/100) to convert from an interest rate to a money factor. 6/2400 = Money factor of 0.0025 which can be multiplied against the total amount being borrowed to know what the monthly interest would roughly equal. |
Originally Posted by bitkahuna
(Post 10429289)
why 2400? leasing is so obviously designed to be as confusing as possible.
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Originally Posted by SW17LS
(Post 10428894)
I would never let a dealer run my credit for a test drive. I've never had that happen, but I have heard of it before. Had you given them a hard time they would have let you drive it.
I did one time have a salesman refuse to let me test drive a car. It was a Range Rover, and I was about a year out from doing something, which I always tell people. He told me to come back in a year and I could drive whatever I wanted to drive. I asked him "so you wouldn't offer me a test drive on anything today" and he said no, asked to talk to the sales manager and he said he wasn't in. Went back out to the car and called the sales manager who was mortified, asked me to come back in and ask for him specifically and he fired the salesperson. When I went back into that dealer a few weeks later with my friend who was negotiating for one, sure enough that guy was gone and her salesman had heard the story. I'm in 100% commission sales, I get it. People trapse through open houses and want to go out and look at stuff they have no intention of buying all the time...but thats just part of being in sales. You never know what somebody might do, for instance 2 months after that I traded my 2015 LS in on my 2017 LS. That friend who bought a Land Rover Discovery there traded it in on a Range Rover 11 months later. I test drove and bought our Kia Sedona on a whim when our Jeep Grand Cherokee was just 10 months old. Would that test drive in that Range Rover have convinced me to trade early? Absolutely could have, and I clearly was driving a similarly priced car and had the money to be a legit consumer. Foolish on the part of the salesman and it rightfully lost him his job. When I bought my wife's car, I called around to Easton and Allentown PA dealers, just to get price comparisons against the Philadelphia area dealers. You never know. The guy I got at one of the dealers in Allentown called me back, and once he heard I was from the Philly area, he flat out said "If I had known you were from Philly, I wounldn't have bothered calling." Like you, I relayed that message to the sales manager, who immediately backed his salesman and said he must have been having a bad day. And then the manager quoted me a price $800 better than any other dealer I was dealing with. And that's where I bought the car--the 40 mile trip to Allentown was worth it--but, I made sure to deal with a different sales person to finish the deal. |
Originally Posted by tex2670
(Post 10429693)
You well know that a big factor in a sales position like that is referrals. So...maybe you were test driving and you weren't going to buy for a year...or ever. But any of your friends, neighbors, relatives, clients who are in the market may want a referral. That is just another why sales people need to put up with people they may think are time wasters. Any one of those people filing thru your open house may just be nosy neighbors that won't be buying that house, or any house, any time soon. But if they know someone who needs to sell their house, *maybe* they say "Oh, this guy sold our neighbor's house. He put on a pretty good open house, and seemed nice."
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Originally Posted by SW17LS
(Post 10429734)
100% absolutely. Being in front of a potential customer or a source of potential customers is never a waste of a salespersons time. That sort of thing happens all the time...
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Originally Posted by signdetres
(Post 10423876)
That's not a valid excuse. To those who know cars or the Stinger in general, the 2.0 vs the GT is a "big deal" but to the average person & at the end of the day, it's a trim level or an option package. It's like the dealer saying no sorry you can't test drive the one with 19" wheels, but you can drive the one with 17s. It doesn't make sense, especially if you have no interest in the one with 17s. I've never been denied a test drive but I've always driven the exact car I'd be leaving with and wouldn't accept otherwise. It's petty. We're not talking bespoke Rolls-Royces or Bentleys. We're talking mainstream mass-market vehicles, and this goes for Kia, Audi, BMW, Mercedes, Lexus, etc. It's a silly dealer practice.
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Originally Posted by jwong77
(Post 10429778)
As exemplified in the Op's experience, not all salespeople have this type of foresight.
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everyone in this thread is assuming a credit check was being sought strictly to verify OP's credit worthiness. could it be some sleazy dealership is just trying to gather as much personal data from an unsuspecting customer as possible? i wouldn't dare even give out my phone number to salesmen when shopping for cars, i know better than that. OP don't take it personal.
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Originally Posted by BoDarville
(Post 10431285)
everyone in this thread is assuming a credit check was being sought strictly to verify OP's credit worthiness. could it be some sleazy dealership is just trying to gather as much personal data from an unsuspecting customer as possible? i wouldn't dare even give out my phone number to salesmen when shopping for cars, i know better than that. OP don't take it personal.
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get a 250 350 or 300 (6 cylinder engine) not turbo
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Many years ago while in college in the big city of St. Louis, I was looking for a new car. At the time either a Honda Accord or a Toyota Camry. Something comfortable, reliable, and safe to drive cross country after graduation from college. At the time I had a VERY BASIC beater Isuzu pickup truck, (no longer in production in the US). Rolled up to a Honda dealership and NO PROBLEMS. The Honda dealership let me go solo for a test drive after they make a copy of my DL. Toyota dealership on the other hand said NO. After some discussion, they wanted to know if I'm serious. So we agreed for me to leave a hundred dollar bill (I signed on the bill so I know I will get that one back) and a copy of my DL. Then they took me out for a test drive.
Needless to say I bought the Honda Accord later on. The Toyo dealership was just way to snooby and acted like they don't want to waste their time on me. I get the fact that sometimes people just waste the dealership's time. But if the dealership acts like they are doing me a favor by showing me and subsequently letting me do a test drive, then I'll just move on to another dealership. Unless we are talking about some real EXOTIC vehicles, there are simply way too many choices in ANY PRICE POINT (at least in the US). Forward several years later in New Orleans. I was in a position at that time to buy my FIRST brand new Lexus. I've always wanted a Land Cruiser from way back when Lexus had not even surfaced yet. Then the Lexus LX470 comes along. The Lexus dealership in New Orleans was relatively new. I showed up in my (now a few years old) Honda Accord. They said NO when I asked for a test drive of the LX470. But they said I could test drive the ES300 sedan !!I! So I walked out and was disappointed. But a year later when I was attending a conference in South Florida......I went to JM Lexus and they treated me like a king. They also gave me a HUGE discount as they had rows and rows of LX470 sitting on the lot at the time. All good.
Originally Posted by bitkahuna
(Post 10422196)
ok, that was your first mistake. :p
just wondering, and no disrespect meant, but how old are you? if you're very young and roll up in a jetta they may rightfully question whether there's any reasonable possibility you're serious about the vehicle, or just want to go for a joy ride and waste the dealer's time. i have zero problem with what the dealer did. while i'm no fan of dealers in general, i know that they can and are frequently abused by consumers so it goes both ways. might want to call the dealer first and arrange the test drive. |
Originally Posted by lexusrus
(Post 10734161)
Many years ago while in college in the big city of St. Louis, I was looking for a new car. At the time either a Honda Accord or a Toyota Camry. Something comfortable, reliable, and safe to drive cross country after graduation from college. At the time I had a VERY BASIC beater Isuzu pickup truck, (no longer in production in the US). Rolled up to a Honda dealership and NO PROBLEMS. The Honda dealership let me go solo for a test drive after they make a copy of my DL. Toyota dealership on the other hand said NO. After some discussion, they wanted to know if I'm serious. So we agreed for me to leave a hundred dollar bill (I signed on the bill so I know I will get that one back) and a copy of my DL. Then they took me out for a test drive.
Needless to say I bought the Honda Accord later on. The Toyo dealership was just way to snooby and acted like they don't want to waste their time on me. I get the fact that sometimes people just waste the dealership's time. But if the dealership acts like they are doing me a favor by showing me and subsequently letting me do a test drive, then I'll just move on to another dealership. Unless we are talking about some real EXOTIC vehicles, there are simply way too many choices in ANY PRICE POINT (at least in the US). |
When one reads the OP they immediately process was this the norm or an exception. What better source then J D Power who surveys thousands and thousands experiences. Genesis is ranked 24th out of 30 in dealer experiences. FYI Lexus was 6th. Buick was #1 and Land Rover was dead last.
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Buick #1? Land Rover dead last. WOW!
Originally Posted by Freds430
(Post 10734435)
When one reads the OP they immediately process was this the norm or an exception. What better source then J D Power who surveys thousands and thousands experiences. Genesis is ranked 24th out of 30 in dealer experiences. FYI Lexus was 6th. Buick was #1 and Land Rover was dead last.
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Originally Posted by Freds430
(Post 10734435)
When one reads the OP they immediately process was this the norm or an exception. What better source then J D Power who surveys thousands and thousands experiences. Genesis is ranked 24th out of 30 in dealer experiences. FYI Lexus was 6th. Buick was #1 and Land Rover was dead last.
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