Murray kia order to delivery time

[jmk5217]

I got an email from them saying they would honor it contingent on dealer financing.

These guys are unbelievable with their tactics

 

[Tell22SX]

What does contingent on dealer financing mean.

Does anybody know what is implied here.

 

[Tiger65]

What does contingent on dealer financing mean.

Does anybody know what is implied here.

I think it means that if you get dealer financing you get msrp. Even Murray did that. Otherwise they charged 1k or 2k over from what i read earlier.

 

[Tell22SX]

I think it means that if you get dealer financing you get msrp. Even Murray did that. Otherwise they charged 1k or 2k over from what i read earlier.

So I guess cash deals are out of the question. It just gets more complicated more stressful to buy a vehicle. I can remember when it was fun. Now you go to the dealer take out your check book and wallet and tell them to take what they want. Time for the poor consumer to give some heat to the manufacturers to have their dealer network retrained from being abusive money hungry businesses. Public needs to wise up and support the good dealers and walk away from the bad. There’s an old saying that what goes around comes around.

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[Tiger65]

Agreed. By the

So I guess cash deals are out of the question. It just gets more complicated more stressful to buy a vehicle. I can remember when it was fun. Now you go to the dealer take out your check book and wallet and tell them to take what they want. Time for the poor consumer to give some heat to the manufacturers to have their dealer network retrained from being abusive money hungry businesses. Public needs to wise up and support the good dealers and walk away from the bad. There’s an old saying that what goes around comes around.

Agreed. Same token, mfg are often requiring dealers to build bigger and "better" showrooms to up the image of their brands. Lotss of greed and lack of consumer focus all around.

 

[min2me]

These guys are unbelievable with their tactics

I think Murray had the same requirement though.

 

[rockadile]

As of September of last year, Murray was NOT requiring in-house financing to get MSRP. Though I don't know why so many people get upset by this requirement. Just take their financing, then go home and refinance it or pay it off.

 

[Tell22SX]

Just another option for dealers to take dollars out of your pocket. Now they force their financing on you to pick up extra dollars with higher percentage rates knowing most likely you won’t refinance.

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[kdeluss]

As of September of last year, Murray was NOT requiring in-house financing to get MSRP. Though I don't know why so many people get upset by this requirement. Just take their financing, then go home and refinance it or pay it off.

Yep,
That was my thought.

 

[Navalbrat]

I used to work at a car dealership. All it means is you use one of their banks they are signed with. That also includes Kia as a financing source. I think it is totally fair. They can’t rip you off. It goes by your credit score what you are offered.

 

[Tell22SX]

I used to work at a car dealership. All it means is you use one of their banks they are signed with. That also includes Kia as a financing source. I think it is totally fair. They can’t rip you off. It goes by your credit score what you are offered.

Not true. They get kickback from the finance companies they outsource and probably more than they get from Kia finance. Don’t mislead the audience here I have seen some shifty financing and know first hand the finance end of things often doesn’t give you full disclosure

 

[rockadile]

Not true. They get kickback from the finance companies they outsource and probably more than they get from Kia finance. Don’t mislead the audience here I have seen some shifty financing and know first hand the finance end of things often doesn’t give you full disclosure

This. The dealer can take add points to any rate they receive from the lending institutions. From what I understand, anything above the initial rate goes to the dealer. I am not sure how often this happens but it is good to know it is a possibility. When I bought my Telluride, I researched rates and Kia Finance was offering the best rate. Murray Kia was able to beat that rate and they offered it out of the gate. Hopefully Raceway will do the same. However, as I mentioned earlier, if you can get a better rate outside of the dealer, take Raceway Kia's financing to avoid the surcharge and then refinance. You may need to wait a bit to get the account information for payoff but that inflated interest rate payment for the first month will still be less than the 1-2k surcharge.

BTW, maybe this thread title should be updated adding the new dealer name?

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[Navalbrat]

Not true. They get kickback from the finance companies they outsource and probably more than they get from Kia finance. Don’t mislead the audience here I have seen some shifty financing and know first hand the finance end of things often doesn’t give you full disclosure

It is true. It’s not a kick back. They get paid for financing with the banks. They get a percentage of the deal. Absolutely. But in a world of Covid with car shortages they still need money. They Don’t have as many cars to sell so they sell them higher. They still have to pay for employees. Lights. Water. Advertising. If there is a fee not to use their financing I understand. If you know your credit score you can discuss your interest rate. There is a set number they can make over the loan. To protect the consumers!!! It’s the law. So yes negotiate. Rates are higher across the board and usually the best financing is through the car manufacturers if you can qualify.

 

[rockadile]

I’ve heard cases where some dealers won’t offer financing through the manufacturer (presumably because they don’t make as much). I do not agree with a dealer who forces you to finance through them as their rate may not be the best. I am buying a product. The price should be the price…especially when there is no discount and you are paying MSRP. However, if they were to require you to use their financing only if they can match or beat the best rate you can get externally, that would be more agreeable.

 

[Andrewh2020]

As of September of last year, Murray was NOT requiring in-house financing to get MSRP. Though I don't know why so many people get upset by this requirement. Just take their financing, then go home and refinance it or pay it off.

As of April 6th when they were still Murray they required dealer financing from me or I would have a $1,000 surcharge. But they said they would match my banks financing offer which was fine with me to avoid the surcharge. They tried to match it and couldn't so they let me use my own financing without the surcharge.

On a different note , I'd watch what raceway will do with the in house interest rates. Hopefully they don't jack them up

 

[Tell22SX]

Buyer beware

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[kdeluss]

Buyer beware

Care to elaborate?

 

[Floridadawg]

I picked up my Telluride S from Raceway yesterday (ordered December 2021, picked up in KFOS March 2022).

I was a bit worried, but they indeed honored MSRP pricing as originally agreed (I had this in writing from both Roger and the new sales manager before traveling their from Florida).

Just a heads-up, their financing rates came in at almost double what my credit
union had quoted me.

Best of luck to everyone.

 

[Tiger65]

I picked up my Telluride S from Raceway yesterday (ordered December 2021, picked up in KFOS March 2022).

I was a bit worried, but they indeed honored MSRP pricing as originally agreed (I had this in writing from both Roger and the new sales manager before traveling their from Florida).

Just a heads-up, their financing rates came in at almost double what my credit
union had quoted me.

Best of luck to everyone.

Thanks did they require their financing?

 

[Floridadawg]

Yes, they are requiring use of their financing. I told them my credit union rate was half what they quoted. The would not really budge.

I only financed a small portion, and just plan on refinancing with the credit union almost immediately. It seems that is the trade off for them “honoring” MSRP.