bwells Posted February 5, 2009 Share Posted February 5, 2009 Just want to give the peeps a heads up on VV motorcycle center. I bought a suzuki in Sept of 08, took the quad home, all was good. The problem statred 30 days after getting the quad, when I got the monthly bill. The terms paper work showed 0% inst. which I had asked for the promo rate for 12 months (low % low paymnets) which I was told I had. After many phone calls to the dealer and Ge money, Ge money stated the dealer would have to change the promo code to get the deal. Long story short, the dealer stated they would not change it, they have been paid for the quad, and I would have to deal with Ge money. The payment was to be around $80-90 dollers and the monthly bill the dealer set me up for was $172 a month and no ware was it noted on the paper work. It is now Feb. and I have just been able to work with GE money and got the lower rate, 6 months later. I tell you this, so you do not go through what I have been through, Victorville motorcycle center has taken the fun out of getting a new quad. Oh lastly they did not top the oil off and the quad seized after three hours of riding. BE CAREFUL Quote Link to comment Share on other sites More sharing options...
Jakster884 Posted February 5, 2009 Share Posted February 5, 2009 The finance Manager gets his commission from the highest interest he can get away with. What A rip Off. Thanks for the Heads Up. Quote Link to comment Share on other sites More sharing options...
britincali Posted February 5, 2009 Share Posted February 5, 2009 (edited) Ill see what I can find out for ya Edited February 5, 2009 by britincali Quote Link to comment Share on other sites More sharing options...
britincali Posted February 5, 2009 Share Posted February 5, 2009 Apparently this has been gone over and over and you have been proven wrong in the matter. Quote... "Quit being a b*tch and posting slanderous bullshit." Quote Link to comment Share on other sites More sharing options...
dune_rat Posted February 5, 2009 Share Posted February 5, 2009 Quote Link to comment Share on other sites More sharing options...
rushjunkie Posted February 5, 2009 Share Posted February 5, 2009 The finance Manager gets his commission from the highest interest he can get away with. What A rip Off. Thanks for the Heads Up. Not entirely true. Finance Managers have no incentive to charge "the highest interest he can get away with". It's true that certain loans allow for a mark up and profit on interest rate, but it is probably one of the most closely regulated areas of profit in a dealership. Meaning a dealership is limited to how much they can make or how high the rate will be. Im not as familiar with motorcycle loans, but if I understand correctly, those special low payments and rates are on a revolving credit loan, like a credit card which is why the rate and payments change in the middle of it. I think this is just an example of chitty customer service and I agree that a warning should be posted about them, if thats how they are gonna treat a paying customer. Quote Link to comment Share on other sites More sharing options...
britincali Posted February 5, 2009 Share Posted February 5, 2009 (edited) Due to a lawsuit a few years back with good ole johnnie cochran in the drivers seat and NMAC (nissan financial) dealers are capped on what they can mark the interest rate up, 20 years ago it was a free for all. Now dealers are allowed to mark the rate up 2.5 points up to 60 mos, 2 points up to 72 and 1.75 points up to 84 months. Credit unions do not allow rate mark up and pay dealers flat reserves based on the loan amount (normally 1% of the financed amount) You are not allowed to mark up any subvented interest rates (special 0/1.9/2.9 loans) The finance manager normally gets 5% of whatever reserve the dealer gets. Edited February 5, 2009 by britincali Quote Link to comment Share on other sites More sharing options...
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