LowFuel

My dealer just called, the day before Im getting my car, and says they wont accept PeopleFirst loans because PeopleFirst takes too long to pay them.
If you're using Peoplefirst you better check with your dealer and make sure it's accepted.

*scrambling to get new financing*

stungeon

I suspect that your dealer is bluffing and hoping that you will finance through them. I have been down that road before. Try challenging him.

jeffw

Sounds like BS from your dealer. The PeopleFirst check I used cleared just as fast as the Bank of America check I wrote for my dealership.

I wrote the checks last Thursday and the money in my BoA checking account disappeared yesterday and also PeopleFirst contacted me yesterday to set up payments since they saw their check was used.

I would guess that your dealer just wants you to finance through them.

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Jeff

Touring6MT_Z

LowFuel,

My dealer took my $35,000 PeopleFirst.com check like cash. No question asked. I think your dealer is playing game with you to get the financing business. Call PeopleFirst.com with your problem. I saw in another post with this same problem, PeopleFirst.com FedEx another Cashier check the next day to the customer.

LowFuel

So you wrote the PeopleFirst check to yourself?

GameOver

y dont you tell them that you wont take the car home til the check clears..........c what they tell you.

maybe they found someone willing to pay 10k over sticker

Carterattorney

I just bought my Z on Thursday.. a week ago..and the dealer took my 21k Peoplefirst check.. NO PROBLEM..

jeffw

No, to the dealer.

I received a blank check from PeopleFirst with my wife's and my name on it (we jointly applied for the loan). It's as if PeopleFirst created a temporary bank account for us just for the purpose of writing a check. There is an account number and routing number at the bottom of the check just like any other check. We just had to sign it and write how much we were financing between the min and max that PeopleFirst allowed for me.

All the dealer has to do is take it to the bank and deposit it just like any personal check.


Just to clarify: The reason I knew the check cleared is because PeopleFirst emails you immediately when they notice the check was spent.
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Jeff

LowFuel

Well I called PeopleFirst and they said they can overnight a cashiers check to the dealer.
Still waiting to hear from the dealer if that is acceptable.

ariZona

To all getting a car loan from any of the above places, make sure you read the fine print. Specifically, I am referring to the minimum deductibles they require you to carry on your car insurance. I was accepted by peoplefirst and eloan, but decided to go with Pentagon Federal Credit Union. However, even they had a deductible level written in to the loan. With Pentagon, I cannot carry more than a $250 deductible for collision and comprehensive. My insurance is with USAA, and I had it set at $1000 for both on my Honda. However, dropping it to $250 for my 350Z (still have $1000 on the Honda) only makes my 350Z cost about $15 more a month than my Honda (which I am in the process of selling). In other words, when I sell the Honda, my insurance for a new 350Z at a much lower deductible will only cost just a little more per month than the Honda, so I am pretty happy. Just wanted to let you know about the deductible thing, though, cause Pentagon requires your insurance company send them proof of your deductible levels or they can terminate your loan. Good hunting!!

ariZona

Dr Bonz

iTrader: (1)

They are trying to pull a fast one on you simply to get your loan (and your interest). Don't let them do it. Your check is as good as any other personal check.

Touring6MT_Z

LowFuel,

If your dealer won't accept bank cashier check, ask to talk to the dealer GM and tell him that you will broadcast their dealer name here and over all Nissan car forums about what they did to you. Ask them if they want to stay in business 3 months from now after the early Z hype is over. I think that should make him think twice about screwing you.

airgate

Man, that really sucks. Hopefully they'll accept the cashier's check. Guess they would have to.

Zboy

I looked at the fine print on papers that came with my peoplefirst blank check. I cant find any numbers you are talking about. All it says is that you need to be insured at all times?? Where did ya get those numbers?

thanks

LowFuel

Well, they wont accept it. They say PeopleFirst doesnt send a real cashiers check and then requires all this paperwork before they will send one out.
So I call PeopleFirst and they say, OH YES we do send out a real Cashiers check and there's no paperwork required by the dealer.

FUN FUN! Im not wanting to be the middleman so I've asked PeopleFirst to call them and see if they can straighten this out.

In the meantime Peoplefirst recommended I go ahead and get financed by the dealer and then just call them after I get the car and they will pay off the loan and fund it for me at the original rate I was quoted. So worst case is it's an extra form to fill out so that everyone can be happy.

LowFuel

Ok so, here's the scoop. It turns out my dealer had a big hassle with PeopleFirst like 4 months ago. The dealer Im going through is part of a larger company and they have a policy now not to work with Peoplefirst. SO, basically, the finance guy at this dealership cant do anything about it *today*.

Anyway, Peoplefirst called them and they're going to work out their issues, but in the meantime I'm approved to finance through the dealer, and Peoplefirst is already sending me a new check that is essentially for buying a "used" car but at the new car interest rate.

So it looks like it'll all work out, just a big miscommunication and they were all using me as a go between. Once I got them to talk to eachother we were able to find a suitable arrangement.

(edited: should have said "policy now NOT to work with Peoplefirst")

Touring6MT_Z

Look like your dealer will try to screw you every which way by lying. I like the way PeopleFirst treat you and handle the situation, get your car and we get them back. Let the dealer do all the paper work, but no financing profit thereafter. After you get your car, you should call the dealer GM that tell him that what they did to you are now internet domain information.

roberto350z

must know dealer name immediately! Mossy or pacific?

LowFuel

Courtesy Nissan in Dallas. I dont really blame them, they are part of a dealership "group" and it was their corporate owners that set the policy not to work with Peoplefirst - or internet lenders in general, apparently.

I should add that Courtesy has been exceptional to deal with in all other aspects.