Dodge and Chrysler financial stinks buy elsewhere

[GGottier]

I purchased a 2004 2500 in 03, in April of 04 I was advised my truck was one of the ones on the ship that took water on during a hurricane. Dodge contacted me and advised me to pick a new truck from my dealers inventory. I thought this was the greatest thing since sliced bread! I anxiously went to the dealer with a smile and picked my new truck out. This was the last thing I did with a smile regarding this truck exchange. I picked an 04. 5 with all the emissions crap due to it being the only diesel left on the lot. I stripped my truck of all its equipment I installed. Dealer and Dodge stated it would be a week or two till it was mine. This is where it gets interesting, Dodge and dealer played phone tag for the next 4 months while they tried to exchanged the numbers. After waiting this long I contacted the dealer, they said "come and get it", we'll take care of the paperwork when its done, so I did. a few more months went by they said the new paperwork was ready and not to make the next payment since the loan would be closed, so I didn't. I didn't receive any paperwork or a call to come and sign it so I made the next payment as usual {so I didn't screw up my cred****. A few more months went by with me contacting the dealer almost everyday. I started to make up my back payment {they told me not to make}a few hundred a month {so I didn't screw up my cred****. October rolled around they called and said come sign your new paperwork, it consisted of 3 papers {big deal}. I went on my merry way. I was contacted by Chrysler Financial in January 2005 about my payment I had missed {which I had $84 left to pay}, they advised me they put 4 points on my credit due to its lateness. I then asked which VIN # they had listed, believe it or not it was the old trucks #. After explaining the story {no exaggeration-35 times} they put me in contact with resolutions. Resolutions advised me as soon as they get the VIN # problem taken care of they couldn't see any problem with getting the points taken off my credit. They have now gotten all the #'s correct and advised me there was nothing they could do for my credit. The way I see it they got their problem taken care of so screw the consumer!!! Also I found out my registration has not been changed with the new VIN, so 10 months and 4 points on my credit later the truck still isn't mine in the states eyes!!! My only suggestion to any and all considering buying a new truck is, Don't buy Dodge and if you do, do not finance thru Chrysler!!!!!! On a side note I have a 04. 5 2500 4X4 SLT with a plow for sale :{ :{ :{

 

[PHeadings]

Kind of a strange story. I wouldn't turn loose of my truck unless it was all in writing, even if they want to give me a new truck. When it turns into a he said she said you always get screwed.

I bought a Dodge and Went through Chrysler Financing and got it all in writing before I signed and am very happy to say the least. 4500 rebate 0% interest

 

[Buzzer]

Write the major credit reporting agencys and contest the points. At the very least it will be on file with your credit history. My bet is they will remove the points.

 

[Po' Riggity]

Exactly why I didnt finance through chrysler. well. . That and the fact that I don't trust car dealer financing to begin with. And they wanted to charge me almost 10 percent interest when my bank only charges me 4. 5%...

Scott

 

[scootergmc]

I financed through Chrysler and everything is working great. Way better than any bank offer. And everything is in writing before you sign... Truth in Lending act... .

 

[scootergmc]

Did the truck take on water or just the boat?

 

[GCross]

Exactly why I didnt finance through chrysler. well. . That and the fact that I don't trust car dealer financing to begin with. And they wanted to charge me almost 10 percent interest when my bank only charges me 4. 5%...

Scott

Yep, your right. Financing and other back room gimicks can make the dealer more profit that the sale of the vehicle. you will get the best deal by pre-arranging financing through your bank or credit union and buy as a cash customer.



-George-

 

[BRayls]

Write the major credit reporting agencys and contest the points. At the very least it will be on file with your credit history. My bet is they will remove the points.

exactly, I bet they will as well.

 

[Tomeygun]

I purchased a 2004 2500 in 03, in April of 04 I was advised my truck was one of the ones on the ship that took water on during a hurricane. Dodge contacted me and advised me to pick a new truck from my dealers inventory. I thought this was the greatest thing since sliced bread! I anxiously wen... ... ... ... ... ... ... ... ... . 10 months and 4 points on my credit later the truck still isn't mine in the states eyes!!! My only suggestion to any and all considering buying a new truck is, Don't buy Dodge and if you do, do not finance thru Chrysler!!!!!! On a side note I have a 04. 5 2500 4X4 SLT with a plow for sale :{ :{ :{

Sorry to hear about you situation, I assure you, this situation is the minority of how financing through chrysler goes



I have financed 3 trucks (with chrysler), and I paid a few off, and always got the lein release without problem...



I believe this problem was more on the dealers part- Of course we all already know how dealers can be... .

 

[av8r]

Financing and other back room gimicks can make the dealer more profit that the sale of the vehicle -George-

You are exactly right, George. I used to work at a Chevy Dealer as a salesman. I know for a fact that the majority of the new vehicle sales profit came from the "finance office. " There is little profit in the sales price itself.



One thing to avoid is having financing from a local bank through the dealer. Bank will charge (for example) 10% to the dealer and the dealer will charge 12% to the customer. The differance goes right to the dealer. Things like under coating (we charged up to $500, cost $20) and fabric scotch guarding are total profit for the finance department. The worst was the "dealer" extended warranties. Cost=$150 for a cheap insurance policy, sold for up to $2500 to the customer!!!!



It'a all called back-end money.

 

[Tim]

Yep, your right. Financing and other back room gimicks can make the dealer more profit that the sale of the vehicle. you will get the best deal by pre-arranging financing through your bank or credit union and buy as a cash customer.



-George-

And in my case I'd give up $1500 cash to do so.



I'm just going to pre-arrange my bank financing and pay off my Chrysler loan the first month.

 

[abdiver]

Bank will want to charge a higher interest rate, on your truck they will claim it is now a used truck and there rate is higer than when financing for a New truck even if its only a month old So make sure you shop your bank too.

 

[BRayls]

Bank will want to charge a higher interest rate, on your truck they will claim it is now a used truck and there rate is higer than when financing for a New truck even if its only a month old So make sure you shop your bank too.

my bank will go back several years and give new car rates.

 

[GGottier]

Did the truck take on water or just the boat?



Scooter: I am guessing only the ship took the water on, I guess they have no idea what vehicles were affected so they replaced all 200+ vehs on it. The original truck had no problems at all, 15,000 miles on it and not a problem.

 

[GGottier]

I thank everyone for the replies. I will try and submit a letter to the big three credit companies. Its just tough to swallow having to write more letters after dealing with this for 10 months and the truck still isn't in my name... . :{ :{



My final thought on the matter is: No matter what you do have everything in writing and the vehicle in your name before taking delivery of it. If I had the chance I would give the truck back and ask for my money back, now I just have to settle on selling it out right!!!! With my luck the way the #'s have been screwed up I'll have a problem with the truck at 80,000 miles, the #'s will still be wrong and the extended warranty won't be honored!!!!

 

[dodgerep]

I work for Dodge, and believe it or not, they did not even want to finance me. Chrysler Financial is not part of the Daimler Chrysler Company. They are a seperate company and have no corporate ties. Just business partners. not the same company. I ended up financing my truck through Toyota Motor Credit. They were very cool. CFC SUCKS and I tell everyone of my customers that the little incentives they offer, 1000 - 1500 dollars is not worth the aggravation of dealing with them. They rate a B Tier, or 650 up to 720 as a a 14. 9% interest rate. THEY ARE OUT OF THEIR MINDS!!!! Don't blame Dodge, not their fault, but blast CFC every time you get a chance.

 

[rashwor]

Guess I am in the minority then. I financed my '99 through CFC and got a better rate than I could at any bank (I checked). No probs. The '05 is financed with CFC and no probs so far. On the '05, I was able to match any bank rate I found and still get the cash back. It all has to do with the dealer and whether or not you are paying attention to the figures and money. I do. I run the figures and if their's don't match mine, we don't sign until they match mine without me changing mine. I play hardball with financing just like I do when making the deal on the price of the truck with sales. I sign nothing until I am happy. Be prepared to walk away: you don't have to have that truck! Dodge will make more! I have walked away more than once!



And one final thought. Don't let them talk you into things after the fact such as undercoating, scotch guard, etc. As stated earlier, these are high profit magin items and you are paying interest on that profit.



All of this is JMO and how I do business. Hope I did not offend anyone. Business is business. You are not doing it to make a friend, but sometimes you get lucky.

 

[Po' Riggity]

my bank will go back several years and give new car rates.

Same with my bank. If your bank won't give you a good rate on a used vehicle either, find another bank.

Scott

 

[DPelletier]

I financed my last three trucks through Chrysler Financial and am happy. My '03 was purchased at 0% over 48 months (as was my Jeep); no bank can ever touch that! I have a Chrysler Fleet Customer number and they have been pretty easy to deal with. In fact, the last truck I bought, they wanted to see my Corporate financial statements and I told them no, only my bonding agent and acountant get to see those - told them to call my bank manager. They called back in 15 minutes and said "no problem, everything is ready for your signature".

I DID have to sit through the whole, do you want the extended warranty/undercoating/paint protection/scotchguarding spiel, but I just answered no each time. I assume that they'd have tried to hook me with that stuff regardless of whether I purchased through Chrysler Financial or not.



Dave

 

[Tim]

Bank will want to charge a higher interest rate, on your truck they will claim it is now a used truck and there rate is higer than when financing for a New truck even if its only a month old So make sure you shop your bank too.

Already varified this. As long as it is a 2003 or newer they don't care how or when it was titled, as long as it's an 03 or newer.



I'm not a fool... I'm not going to chase pennies with dollars.



Honest-to-god, $1500 savings for going with Chrysler financial for one month.