Just finalized a deal on a 2002 Dodge Extended Cargo Van! When I went in I had been quoted $0 down and 1.9% for 36 months, and I had stated that I would be putting a minimum of $6,000 down.

However, when it cam time to deal with the finance officer he slides paper work across his desk with 8.25% for 60 months.

Whooaaa Nelly! "What is this all about?" I ask.

Well, it turns out that even though I have excellent credit, I have never finainced anything...not even my house. Because of this, the guy tells me I do not have a car payment history and they can't give me the 1.9% for 36 months and this was the best he could do for me.

I didn't say a word. Just stood up and headed for the door. Of course he chased me down and wanted to know what was wrong.

"Nothing."

"Then where are you going?"

"To the bank to withdraw some cash and go buy that '01 Ford with only 30K on it and $5,000 cheaper."

After some serious debate between him and his boss, I got my 1.9% for 36 months. However, it turned out they had a $2,000 rebate if I finainced at 8% for 36 months and considering I'll have it paid off within the year anyway, I come out much better.

But I couldn't believe that crap that just because I had never finainced a vehicle before they were going to charge me extra.

I think maybe one of the reasons he tried that on me was because I low balled my monthly income, where as most people probably over exagerate it.

sounds like the reason I quit selling cars, they pulled that crap all the time.

But if you never finance anything it is hard to get the best rates.

I could walk in and get GREAT financing on a 100K Mercedes that costs twice what I make annually.  But that's because of my credit history, which I've taken great care to build over the years.

No credit is, in some cases, WORSE than bad credit, because it makes you an unknown quantity.

-Troy