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-   -   A Dealer Exposes CW Sales (https://www.forestriverforums.com/forums/f188/a-dealer-exposes-cw-sales-151048.html)

Wobbles 01-10-2018 04:50 PM

A Dealer Exposes CW Sales
 
I have no affiliation with any party in this video other than a purchase I made where I paid only the advertised online price. I am satisfied completely with my purchase. Actually I was shocked to find out who was making this video...

I post this as an informational thought for those that are about to purchase. It is all about sales tactics and things to look for. This contains a pretty strong example that I am sure will make the news. Watch it before the CW lawyers shut it down.

https://vimeo.com/cheyennecampingcenter

PS. Do not kill the messenger.

frostriver 01-10-2018 05:28 PM

Well that didnít take long... Video already removed. Thx for trying

Wobbles 01-10-2018 05:29 PM

Quote:

Originally Posted by frostriver (Post 1704514)
Well that didnít take long... Video already removed. Thx for trying

It's still there "https://vimeo.com/cheyennecampingcenter" try this...

babock 01-10-2018 05:35 PM

It's still there.

desiphil 01-10-2018 08:29 PM

I mean no offense here, but this is nothing more than an ad for their dealership. Every dealership I've ever bought from has attempted to sell me back end products (warranty, paint/fab protection, tire warranty). The buyer should notice if the drive-out financed amount has added on fees.

Many dealers are now adding on freight and make ready fees. This is nothing more than a way for them to advertise a low web price to get people in the door. It's up to us whether we pay it or shop a dealer that doesn't add the fees.

Nascon 01-10-2018 08:40 PM

An eye opener for sure but a lot of similarities in the auto market. Extended warranties, paint sealant, fabric guard, rust protection, easy financing. While I understand many people can't pay cash we almost always do. We go in without any mention of a cash deal and negotiate for a fair price letting them think we are buying the whole package, go for lunch and come back with an offer of a cash deal the next day without any extras. Does'nt make them real happy but they don't have much choice.

Decon Blue 01-10-2018 08:44 PM

Easy Peasy, find the unit you want, come to a agreeable price, pay NO Dealer fees, pay cash. Done deal. No interest , No payments , No future regrets.

david_reaves 01-10-2018 10:24 PM

The real issue is that sometimes, rather than a fix-payment loan, the dealer sells RVs using "revolving credit" rather than a loan. They say you have X interest rate, and payments of Y... but like a credit card on minimum payment you end up paying a fortune in interest. My first RV was finance through the dealer with what we were told was a loan, but when I received all the documents after the sale I discovered it was revolving credit. There wasn't a "truth in lending" statement but after the first month the monthly statement showed a higher balance than I'd financed. There was ZERO reduction in principal owed. Fortunately, I was able to get a real loan from my credit union and I payed the dealer-sponsored credit off in full before the second payment was due.

I didn't watch the full video, so I can't address it specifically. What I would warn is that buyers should beware of revolving credit versus a closed-end loan.

babock 01-11-2018 12:06 AM

I agree...don't finance toys and an RV is a toy.

SlfMdeFam 01-11-2018 12:50 AM

Quote:

Originally Posted by babock (Post 1704788)
I agree...don't finance toys and an RV is a toy.



I agree with that statement partially. I need to finance my RV. Not because I couldnít pay for it outright but for the fact of needing the wright off for taxes. I either pay a monthly payment and have a weight off from it or at the end of the year I wright a check to Uncle Sam. Iíd much rather use MY money and enjoy it instead of someone else...

babock 01-11-2018 01:32 AM

Quote:

Originally Posted by Chris Allen (Post 1704799)
I agree with that statement partially. I need to finance my RV. Not because I couldnít pay for it outright but for the fact of needing the wright off for taxes. I either pay a monthly payment and have a weight off from it or at the end of the year I wright a check to Uncle Sam. Iíd much rather use MY money and enjoy it instead of someone else...

The only reason to finance is if you can make more money invested in something else. A right off gets you back part of your interest payment.

With the new tax law making it even less advantageous to itemize, especially if you are married, even that is going to be a non factor.

SlfMdeFam 01-11-2018 01:36 AM

Quote:

Originally Posted by babock (Post 1704804)
The only reason to finance is if you can make more money invested in something else. A right off gets you back part of your interest payment.



With the new tax law making it even less advantageous to itemize, especially if you are married, even that is going to be a non factor.



For me I wright off the entire amount through my business as a marketing tool. So for most, I get your point.

I have to spend money or Iíll simply send a fat check at the end of the year!

Rugman1952 01-11-2018 04:13 AM

Ok, I work a swing shift, and have been reading this post since I got home. I watched the entire video. Actually thought the poor old guy was going to cry! Lol.
I am happy for those of you that can pay cash for everything. You worked hard for what you have, and deserve the rewards.
For those who write off an RV (toy) as a business expense, well, somebody's got to make up the diff to the irs. Me, maybe?
I watched the Kennedy/Nixon debates on a black and white tv. Yes, I am that old.
DW just kicked the soap box out from under me, so I gotta go.
Hope I didn't offend anyone. Some of us need financing, and the more knowledge we have going in, the better.
Sylb :trink39:

Oaklevel 01-11-2018 06:25 AM

For many of us if we did not finance a RV we could not camp period. But being smart about it is another thing.

:signhavefun:

GL1800Rider 01-11-2018 06:42 AM

I agree this video is an ad for that dealership but it also brings to light what everybody should be aware of when financing. At some point, most of us starting out with our first RV were much younger, dumber and raising a family and had to finance in order to create lasting memories. This video is a great education for anybody as to the tactics that many dealers, not just CW, employ to increase their profits.

With few exceptions, much of the inventory Camping World has is geared to the first time buyer. As high a volume dealer as they are, I don't see many high end Class A's gracing their lots.

JohnF 01-11-2018 06:43 AM

Just an infomercial for Cheyenne Camping Center.

DreiHunde 01-11-2018 08:28 AM

Infomercial? Sure. But all good information.
Bottom line is educate yourself on the product you are about to purchase, think and question every charge that you don't understand or is unusual. Just like you should for every other major purchase you do in life.
Some dealers/sales are straight up and some will try to take advantage of the uneducated buyer.
Heck I can show you at least 4 new car dealerships in this town that will try to pull more outrageous stuff than anything seen in this video.
Remember....
Buyer Beware.
If the deal sounds to good to be true it probably isn't.
And WALK AWAY if you are not comfortable.....it is amazing how fast that will get their attention.
:signhavefun:

KyDan 01-11-2018 08:35 AM

We have no issue with folks who finance their big ticket items!

It's buyer and borrower beware out there.
FWIW we just financed our new truck.
I financed at the dealer but they were "outside agent" for my credit union.
I checked-- same interest if I went to the CU as at the dealer so it saved
me a trip to the CU.
It's simple interest.
No early pay off penalty.

In this day of social media and how bad things can go viral so easily it's hard
to believe that a dealer would write such a horrible (for the buyer) finance contract.... how can they stay in business? I guess at those rates if they scare off 2/3 of the customers who might buy there the remaining 1/3 are paying such a horrible rate the dealer still makes money.

Ya gotta wonder why the state attorney general doesn't step in.

Do NOT turn this into a govt bashing discussion!! Just gotta wonder if
their state AG doesn't know about this yet... My 1st step would have been TV stations and the AG.

JohnF 01-11-2018 08:51 AM

Quote:

Originally Posted by KyDan (Post 1704876)
We have no issue with folks who finance their big ticket items!

It's buyer and borrower beware out there.
FWIW we just financed our new truck.
I financed at the dealer but they were "outside agent" for my credit union.
I checked-- same interest if I went to the CU as at the dealer so it saved
me a trip to the CU.
It's simple interest.
No early pay off penalty.

In this day of social media and how bad things can go viral so easily it's hard
to believe that a dealer would write such a horrible (for the buyer) finance contract.... how can they stay in business? I guess at those rates if they scare off 2/3 of the customers who might buy there the remaining 1/3 are paying such a horrible rate the dealer still makes money.

Ya gotta wonder why the state attorney general doesn't step in.

Do NOT turn this into a govt bashing discussion!! Just gotta wonder if
their state AG doesn't know about this yet... My 1st step would have been TV stations and the AG.

Why would the AG get involved? What did Camping World do that was illegal? Caveat emptor!

KyDan 01-11-2018 08:55 AM

Quote:

Originally Posted by JohnF (Post 1704878)
Why would the AG get involved? What did Camping World do that was illegal? Caveat emptor!

I just watched the opening minutes in the video so if I'm wrong sorry but
it looked like predatory loan practice. At the very least it sounded like something that would fly on the local news as predatory-buyer beware story.


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