Jump to content
TEAM SHELBY FORUM

Got ripped off trying to buy a Shelby...


Matts

Recommended Posts

Has anyone been ripped off trying to buy a Shelby GT?

 

 

For the past several weeks I have been speaking with a dealership about buying a beautiful 2007 Shelby GT Mustang. Well today was the D-day to sign the papers and pick up the car. Well half way there the salesman calls me pissed off and out of breath, saying that the financial department is coming up with this ridiculous interest rate. By ridiculous I mean 17% plus $3,700 down or I can have my father sign as the primary owner and my father putting $1,500 down and we will have $788 monthly payment. Anyways long long long story, short I turned around and headed back to the house.

 

BTW I mean no offense to car salesman on this forum.

 

Anyways can anyone shine some light onto this situation.

 

Also if anyone knows of a White 2007 Shelby GT I can buy that's under $33,000 please PM me.

Link to comment
Share on other sites

bankrate.com is a great resource for loans to guage if you are getting a fair deal - great for mortgages too - lots of good information too

 

NATIONAL OVERNIGHT AVERAGES TODAY +/- LAST WEEK

 

36 month new car loan 6.79% 6.82%

48 month new car loan 6.83% 6.86%

60 month new car loan 6.59% 6.61%

72 month new car loan 6.44% 6.44%

36 month used car loan 7.14% 7.16%

 

edit - I just noticed you are in Australia so the bankrate website may not be helpful - good luck

Link to comment
Share on other sites

Has anyone been ripped off trying to buy a Shelby GT?

 

 

For the past several weeks I have been speaking with a dealership about buying a beautiful 2007 Shelby GT Mustang. Well today was the D-day to sign the papers and pick up the car. Well half way there the salesman calls me pissed off and out of breath, saying that the financial department is coming up with this ridiculous interest rate. By ridiculous I mean 17% plus $3,700 down or I can have my father sign as the primary owner and my father putting $1,500 down and we will have $788 monthly payment. Anyways long long long story, short I turned around and headed back to the house.

 

BTW I mean no offense to car salesman on this forum.

 

Anyways can anyone shine some light onto this situation.

 

Also if anyone knows of a White 2007 Shelby GT I can buy that's under $33,000 please PM me.

 

maybe this guy can help you and you can help him :headscratch: good luck

 

http://www.teamshelby.com/forums/index.php?showtopic=36812

Link to comment
Share on other sites

I noticed that you are from Australia and rules & interwet rates may be different

I know I had to purchase a car for my sister after her bankruptcy and the difference in interest rates was 27% to my 7%

So in the light of the economic woes the world over, banks are looking for a more stable client to lend money to.

Link to comment
Share on other sites

I seriously need to change my location. lol. I live in Texas now. So that website helped a lot. I just confused because I bought my other mustangs at a near 1.0%. So I don't know if they just sol the car from under me or just got a better offer and they wanted to scare away. Whatever it was it worked, but now I'm desperate for a Shelby GT.

 

Anyways in the mean time while I wait for the perfect Shelby I think I'm going to start buying the her some shoes, fix her grill a little, I know I'm going to spoiler her, but I know she will like it and look a lot better.

 

My girlfriend just smacked my in the head, because she thought I was talking about her.

Link to comment
Share on other sites

We just went through this 2 weeks ago with our 19 year old son. We co-signed on a loan for him for a 99' Cobra. We went through the credit union and got a 5.5% loan for 66 months and he is the primary borrower so he can get credit established. Unfortunately his insurance payment is more than his car payment.

I would think you would be able to find a SGT for around 32-34K. You may need to contact the "Godfather", AKA, "MichaelMorris".

 

Good luck, be patient.

Link to comment
Share on other sites

You may want to try on the last selling days of the year. I was able to purchase a new one at under 30K on 12/29 of 2007. Maybe it really IS true about dealers getting real anxious to move cars at the end of the month and the end of the year...

Link to comment
Share on other sites

See I don't know if it's my age or what. I'm 21 years old with excellent credit. When they ran everything it was ok until I decided to come pick up the car then all hell broke loose. So yeah I think I'm just going to wait and buy some upgrades or just speak to MM and see what we can do.

Link to comment
Share on other sites

Just a word of advice...

 

Everyone's probably got a different stategy, but I always negotiate a cash price (no trade either); having my own financing arranged in advance. Usually your local credit union (typically at work, if they have one) is your best true rate. If you have a check in hand for the financed portion of the purchase price and the dealer is able to arrange a better rate through Ford Motor Credit or something, then you can always turn the check back into the CU. If you have better than a 750 score, securing financing shouldn't be an issue yet... even in today's market. I just have always found that focusing on a bottom-line price (inclusive of tax, title, all doc-fees, etc) allows them to play less games with you.

 

Good luck!

Link to comment
Share on other sites

Just a word of advice...

Everyone's probably got a different stategy, but I always negotiate a cash price (no trade either); having my own financing arranged in advance. Usually your local credit union (typically at work, if they have one) is your best true rate. If you have a check in hand for the financed portion of the purchase price and the dealer is able to arrange a better rate through Ford Motor Credit or something, then you can always turn the check back into the CU. If you have better than a 750 score, securing financing shouldn't be an issue yet... even in today's market. I just have always found that focusing on a bottom-line price (inclusive of tax, title, all doc-fees, etc) allows them to play less games with you.

Good luck!

 

 

One would think that. My strategy for car shopping is test drive, test drive, test drive then focus on bottom line of the vehicle before mentioning trade. There are several dealerships in Dallas who will not even discuss the vehicle with you until you let them know if you have a trade or not. If you say "yes I might be trading but I do not want to discuss it right now" they will not give you a price on the vehicle until you give them your info. If you say "no", finalize the price of the vehicle and then say let's talk trade, they will cancel the price you just negotiated. I have got up and walked out several times as I will not do business with these places. The price of the new car and the trade should not be dependent upon each other to an honest dealership. Southwest Kia is the last dealership who did this. I also will not do business with a dealership that holds your keys. I will not be held hostage. I got very vocal at a Chevy dealership when they flat refused to give me my keys. The manager came over and said I would be asked to leave if I didn't quiet down. I said "How? You won't give me my f'ing keys!" He just looked at me funny and I suddenly had my keys given to me. :hysterical: The are some REALLY s#1tty dealerships in DFW and I think I have been to them all.

 

My Credit Union is cool as well. After discussing the price of the new vehicle I can call them and they will tell me if the price is ballpark, my credit score, the rate they will give me and any other info I need to know. I went in once with one of those approval letters to put toward the purchase of my ex 05 Jeep. The salesman told me to keep it a secret and see if the dealership could get a better rate. Of course I didn't and showed it to the finance guy because it's only honest and when he said he couldn't come close to the rate (his was 3 points higher in fact) he got so mad he was throwing the paperwork in front of me and got really hateful. It was so bad I walked out with my cash deposit still in my pocket because he never asked for it even though the paperwork I signed said he had received it! A month later he calls - sticky sweet by the way - begging for that money. I let him sweat for a few weeks after that....

Link to comment
Share on other sites

Hey guys I've found another 2007 White Shelby GT Mustang. It's in Houston the dealership is called Archer Volkswagen. It's at a great price, but the mileage kinda scares me, 16,168 to be exact. Just wanted to get feed back on what you guys think. I headed off to my bank that I currently work for to see what kind of interest rate they can give me on a loan.

 

So anyways has anyone here done business with Archer Volkswagen?

 

Any opinions on the Mustang?

 

Here is a link to the Mustang...

Link to comment
Share on other sites

Hey guys I've found another 2007 White Shelby GT Mustang. It's in Houston the dealership is called Archer Volkswagen. It's at a great price, but the mileage kinda scares me, 16,168 to be exact. Just wanted to get feed back on what you guys think. I headed off to my bank that I currently work for to see what kind of interest rate they can give me on a loan.

 

So anyways has anyone here done business with Archer Volkswagen?

 

Any opinions on the Mustang?

 

Here is a link to the Mustang...

 

 

No way for that mileage!!!! There are others out there for way less $$$ than that with less mileage-for that price I believe you can get a brand new one never titled. I live in South Florida and I flew up to Alabama to pick mine up and drove it home. The trick is to have your bank check ready to go and don't go into dealerships, only deal on-line. I found mine also on Auto-trader- I had more $$ on my approved credit union check than what the dealer asked for and I emailed them that all I am ready to buy as soon as they agree to my price and only my price, no dealer fees and I'll pay my own taxes back in my state and to email you back with a response. No offense to the dealers but I've always felt pressured when I walk into a dealership so I've learned my lesson. As far as I am concerned MM on here seems to be a great to go person, have you contacted him. I've never him but I hear nothing but good about him. Shop around.

Link to comment
Share on other sites

I notice everyone telling you to go to a credit union, while that is a great idea, you can go to lendingtree.com and get a "blank check" in a few days. I've used them for my last two cars and one for my wife's. Its always nice to have a check in hand so there are no surprises at the dealership.

 

Lastly, I LOVE my SGT, but for $38k I've seen a few GT 500's (Used) in your area... just wanted to make sure you get what you want. Good Luck!

Link to comment
Share on other sites

Hey guys I've found another 2007 White Shelby GT Mustang. It's in Houston the dealership is called Archer Volkswagen. It's at a great price, but the mileage kinda scares me, 16,168 to be exact. Just wanted to get feed back on what you guys think. I headed off to my bank that I currently work for to see what kind of interest rate they can give me on a loan.

 

So anyways has anyone here done business with Archer Volkswagen?

 

Any opinions on the Mustang?

 

Here is a link to the Mustang...

 

As others have stated, 29.9 for one with that mileage is too much money. I bought a brand new one (18 miles) never titled in late August for just over that price! I would venture to guess that you could get a new one for that price or better!

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...
...