Australian Fleet Sales / Motor Finance wizard? Friend or foe?

[HULK_I6T]

I keep seeing those Australian Fleet sales ads on TV paying big overs for trade ins and offering $3000 cash back for buying cars from them. They used to say they could get you in a newer car for cheaper repayments than the current car loan. Are they a friend or a foe?

My arguments for Foe:

I remember talking to a mate some time ago and he said he saw a 5 year old Camry in their yard for $26,000. When he said he was a cash buyer, the price magically dropped to $17,000 as a starting point and they were keen to haggle from here. He said the car was worth maybe $10,000 but it had too many km on the clock and he gave it a miss. In any respect a camry can be had new for around $28k so who would anyone ever buy this sort of car from them for $26,000? 5 years old and near 150,000km but for a new car price??? He said every car was priced like that, way way over the market value, even twice and three times the market value.

It seemed like they really wanted to hit the guy for a home run that is looking for a car on finance. Belt him on the purchase price and then 25%+ finance costs on top.. But in their defense they dont force people to buy their cars. They can put whatever price point they want and its upto the people to negotiate a mutually acceptable arrangement. Are they loan sharks to people who cannot get finance anywhere else due to poor history?

My arguments for Friend:

My sources in the motor industry say Australian Fleet sales are doing pretty well for themselves. So they must be friends to more than a few people. People are also saying yes to these offers so it seems?

Contrary to above, Are they actually helping people who cannot get themselves into a better car any other way. Sure they hit them for a home run but these people have knocked on every door and are their own worst doing bringing their bad credit rating with them. Are they giving them one last chance to update their car?. So you could argue they are friends for offering these people a chance but need to charge a premium due to the risk profile of the customer with their bad credit history

Friend or Foe? Anyone had experiences with them?

[ozpacman]

In my opinion they're absolute crooks - but that's only because I can see the way they do business and I prefer to save up and purchase my vehicles with my own funds.

If I was a third generation welfare dependent knuckle dragging bottom feeder, I'd probably think they were gold. That's because I'd be sitting around on my freckle all day smoking Winnie reds and swilling VB, safe in the knowledge that I didn't have to work for the coin that gets automatically deducted from my dole payments anyway. What a deal!

Saves 'em stealing my car I guess!

Russ

[nstg8a]

Foe.

No one NEEDS a late model car, they want a late model car.

If you can't afford it, you don't buy it. Simples.


The latest one doing the rounds up here is car yards offering zero interest, zero fees zero credit checks etc.

10k car, eg a 5k deposit, and you pay the rest at $100 a week. They call it a promisery (sp) note, not finance.
I've yet to work out where the catch is.

[HULK_I6T]

Originally Posted by nstg8a

Foe.

No one NEEDS a late model car, they want a late model car.

If you can't afford it, you don't buy it. Simples.


The latest one doing the rounds up here is car yards offering zero interest, zero fees zero credit checks etc.

10k car, eg a 5k deposit, and you pay the rest at $100 a week. They call it a promisery (sp) note, not finance.
I've yet to work out where the catch is.

The catch is they are probably selling a $3000 for $10000.. The deposit already covers the cost and the repayments are all cream. Title of the car prob doesn't pass until it's all paid. So they even encumber the car on the cream component of the deal.

[nstg8a]

Prices wernt too different to other yards, the one I was looking at was a bf2 ute, average kays etc and the price on the window was $7999.

I didnt want to spend more than 5k and it was after I said that that they mentioned the option of paying it off.

They 'claim', no catch, no scam, just an easy way of financing your self into a better car than you thought you could afford.

My scam alarm went nutso and I bailed pretty quick at that point. Really I should have waited to see the inevitable fine print.

[munners]

I went to them when I was looking for my Falcon. I saw a 2011?? Focus (old shape) they had for sale. I noticed it because it was the exact same colour and model as my brothers. they were asking $23000. My bro paid $21k when he bought it new.

Also, some advice for their salesman. If a couple walk into your yard with with two kids (7 and 2 years old) at least have the courtesy to put your cigarette out before coming over to talk to us. You stink and I don't appreciate you blowing smoke over my wife and children. Thanks. That would be awesome.

[bigsta]

worse scum out there

I actually thought Dept of fair trading shut them down when they closed half their yards recently.

Went to their burwood site about 3 years ago when i was looking for my territory after seeing a ad with a SY2 Ghia 7 seats, low kays going for cheap, called them up, guys says he has it and 2 more similar territory's in his yard and another 20 in the system all at good prices, head out there ready to buy if all is good guy comes up (its that guy Wongy from their latest ad) and i say what im after and he goes yeah i spoke to you before etc all nice and that and i start talking about the car i am after and he goes yep well lets value your car for trade in and i stupidly give him the keys which he hands off to another douche.

I ask where the territory is as there is NONE in his yard that i can see, and he tries to sell me this clapped out mini van, I say to him i dont want it that im after the car they advertised that i spoke to you 2hrs ago about at the price advertised he says its been sold (BS it was a bait car) and says they have another territory 5 seater TX for similar cash with 200000kms on it, even after telling him exactly what i wanted and that it had to be 7 seats he kept trying to hard sell this car.

All annoyed they wasted my time, i storm out only to see my car was not there anymore and they still had the keys!

I go back in and say wheres my car and keys and they start trying to con me saying i had already agreed to buy this territory i had not even seen, i would not wear this for a second and ended up having a heated argument and with them backing down with me saying im just gonna call the police now when this other douche throws the keys at me and unlocks the gate, next day i discover my log books and service history were stolen most likely being passed off as service history for another car.

About a month later a mate of mine went there and had the same thing happen only he did not fight and almost brought the car, he called me up asking to come out and help him get his car back headed out there and called the police on the way who attended and got his car back for him.

My mate took his exp to fair trading, they are beyond bad and i cannot believe anyone buys cars from them or that the govt lets them stay in business

STEER CLEAR!

[GTPete]

My mail suggests this mob is Dale Ford reinvented with overpriced used cars on equally overpriced finance deals, sponsored by your local radio joc who is not for sponsor but can be bought outright?

[danzvtil]

ACCC or similar closed these guys down in adelaide, as their finance deal was actually an overpriced lease passed off as a loan where you would eventually own the car outright.
I often hear the line in advertising for similar leasing deals on white goods or electronics as "everyone deserves a fair go" or "renting/leasing is the SMART way to go" when in fact they are targeted at people on the bones of their asses who have no understanding that a lease is only the smart way to go when you are a business owner and have a tax incentive to use a lease. If you cant afford a loan to buy a car outright then you cant afford a lease.

[AU1XLS]

Post on topic or not at all

[HULK_I6T]

It makes sense to buy elsewhere listening to the conduct of wongy and his henchmen.

but for many people that have a bad credit history they are the last option as noone else will give them credit. I understand that people with a risky credit profile will have to pay a premium to obtain credit. The balance of power quickly shifts in favour of australian fleet sales / motor finance wizard. So hefty finance arrangements and overpriced cars, they hit them for a home run. This practise though should be a little more regulated.

if people cannot afford the finance or bring a bad credit profile they should simply be told no. Not hit for a home run.

[Gadgetman]

if the offer is too good to be true, it often is.

[TheSneakiness]

Being in this position right now and doing the research would not touch them with 1000 foot pole with nails attached to it. I am not stupid enough to pay $20000 for a 20 year old car that will breakdown within 3 weeks of owing it.

Hulk, need to stop stirring the pot.

[EB#]

MFW are evil.
They will offer a car worth $4k with a finance package at $12k.
They deserve a punch in the face and that's about it.

[PG2]

Originally Posted by f6_benito

It makes sense to buy elsewhere listening to the conduct of wongy and his henchmen.

but for many people that have a bad credit history they are the last option as noone else will give them credit. I understand that people with a risky credit profile will have to pay a premium to obtain credit. The balance of power quickly shifts in favour of australian fleet sales / motor finance wizard. So hefty finance arrangements and overpriced cars, they hit them for a home run. This practise though should be a little more regulated.

if people cannot afford the finance or bring a bad credit profile they should simply be told no. Not hit for a home run.

Unfortunately some of these people that have bad credit ratings just don't know when to stop. If they have a bad credit rating it generally means that they have not paid back their previous loan (and probably never will). When I was writing finance for a dealership I would come across some people who had bad credit and also just simply could not afford to buy a car. I would try and explain to them that they need to take control of their finances and maybe try again in several years time when they are in a better financial position (I would do this nicely of course).

The next day they would be driving around in a new car from Australian Fleet Sales (or somewhere similar),

All this does is puts the person into further financial hardship. Yes, they are adults and can make there own decisions but sometimes these types of dealerships can go too far.

It would be interesting to see how many of these cars that are sold from Aus Fleet Sales end up being repossessed. After all, Aus Fleets Sales don't care -they still get paid for their car - it's the finance company that takes the hit.

Another thing is that a car is NOT a necessity. Take the bus drive around in an old clunker (that is safe) even walk (some of these bottom feeders need to have a good walk). No, I don't do any of the above things but I pay my bills!

Definitely foe.

[MercurySilver]

they stole your cars log books????!!!!

i wouldve gone off tap, called the cops and let absolute rip
what a bunch of dodgy bastards

[Iggypoppin']

These blokes are the biggest crooks in the industry, wouldn't buy a car through them if my life depended on it.

[Smoke Pursuit]

Yet they seem to be buying shitloads of Commodores and Falcons from the likes of AVIS and Hertz every week.

Is it just me or do you need to fill in your contact details to view their stock? Quick way to get peoples info to harass them.

[HULK_I6T]

http://www.australianfleetsales.com....EN%20COMMODORE

they are trying to sell a VT series 2 SS commodore with 220,000km for $18,000..

Surely they cannot be serious. They would have bought this car at auction lucky if they paid $3000-5000.

[HULK_I6T]

Originally Posted by DASH GT

Is it just me or do you need to fill in your contact details to view their stock? Quick way to get peoples info to harass them.

I gave them my number. They had better not call me.

they send a password to search.