Picked up son's new Toyota truck yesterday to replace one totaled by a deer.
First stopped by credit union to arrange financing - cost of vehicle minus ins.
check = ~$13k. (Bit of background - son was laid off as a surveyor about 4
years ago; went to chef school with my help; been working as cook/chef about 1½
yr., so he's been "in a bind" for a few years.) I told CU lady I wanted it
arranged however necessary for him to get lowest rate - 1.99%; if son couldn't
qualify for that rate by himself, I'd sign with him. She worked it up for son
by himself - 8.9%!! I said, "No, do it however it takes for it to be at
1.99%." She checked my application and exclaimed, "Debt free! How you do
dat?" My reply, "By keeping stuff paid." ;<) Then she decided "we" could get
the loan at 1.99% if I were Primary - i. e., MY loan. Meanwhile, I asked if
Mrs. X (manager) were still there. Lady responded, "Yes, but it's Mrs. XY now,
she got married." Lady studied papers and computer for few min and said,
"Excuse me, I'll be right back." In few minutes she came back with Mrs. XY,
who hugged me enthusiastically and said, "We're going to give son the loan by
himself at the lowest rate - 1.99%. You've been with us for 34 years and paid
off mortgage years ago; son has mortgage there, also, etc.
Lady who was working on case called Toyota salesman to get an invoice, etc. and
called clerk to start working up papers, etc. Few min later invoice arrived
with wrong figures for ins. check - 'don't know where he got the imaginary
figures. CU lady called Toyota; Toyota guy asked if we'd just go there and let
him run the CU loan through "his system" in the usual manner and send it to CU
electronically. I agreed reluctantly; they assured me that it was all same -
still a CU loan at 1.99%.
We arrived at stealership, called USAA for ins; received ins card by fax, then
met "finance manager" for final paperwork; stuff finally moving along 'til
finance guy went into his long-winded sales pitch for extended, long-term
warranty adding another $27XX to the $13k CU loan. I tried to be calm and try
to listen to his alarmist crap; noticed that son didn't know what to do. I
finally had to chime in with, "No, please just work it up for the $13 CU loan
and let's move on with it. You need to be taking stuff off - not tacking stuff
on. The truck already has $3k "worth" of crap hung on it that he doesn't
need." Finance guy wouldn't take "No" for an answer, though, and continued
with his bull-dog-like alarmist crap. I told him at least twice more, "No, if
we can't depend on the Toyota we're buying any more than that, maybe we need to
go somewhere else." Finally got 'im to shut up about the extended warranty and
move along with the $13k CU loan that we had already arranged at the CU.
Finally got it done and got the Hell out of there. I'm gonna try mighty hard
not to ever go back.
It seems that the REAL reason, the Toyota guy wanted us to go there was to try
to get another $27XX tacked onto their take. I'm afraid (nearly certain) that,
if I had not been there, the SOB would have tacked it onto son's CU loan.
Wilton
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