topic Re: Car Gurus GLS Pre-approval in Auto Loans

Car Gurus GLS Pre-approval

Anonymous — Fri, 11 Sep 2020 00:10:33 GMT

Anyone ever use this? Is it legit? Are quoted rates on the pre approval iaccurate? How was the process? Rates for me are better than either Capone or the dealer.

Re: Car Gurus GLS Pre-approval

Anonymous — Fri, 11 Sep 2020 06:45:24 GMT

A few people I know said that they used them before and once they went to the dealership the car was considerably higher than advertised on Car Gurus. Since then, I have not used them because I have noticed (personally) that sometimes their prices are a little too good to be true...

Re: Car Gurus GLS Pre-approval

ccquest — Fri, 11 Sep 2020 14:00:14 GMT

@Anonymous wrote:
A few people I know said that they used them before and once they went to the dealership the car was considerably higher than advertised on Car Gurus. Since then, I have not used them because I have noticed (personally) that sometimes their prices are a little too good to be true...

That's true of most listing sites, including the dealership's own site. They usually bundle in all the possible discounts in the world you could qualify for, even if they contradict, and list that price. So if a manufacturer has: lease conquest, returning customer, young graduate, senior citizen, army, and world pacifist discounts, they'll include all of those for their list price instead of just what makes sense. Sometimes you'll get lucky and have one that only picks the higher of conflicting ones or even better, doesn't include them at all for advertising.

Re: Car Gurus GLS Pre-approval

Anonymous — Fri, 11 Sep 2020 16:50:06 GMT

@ccquest wrote:
@Anonymous wrote:
A few people I know said that they used them before and once they went to the dealership the car was considerably higher than advertised on Car Gurus. Since then, I have not used them because I have noticed (personally) that sometimes their prices are a little too good to be true...
That's true of most listing sites, including the dealership's own site. They usually bundle in all the possible discounts in the world you could qualify for, even if they contradict, and list that price. So if a manufacturer has: lease conquest, returning customer, young graduate, senior citizen, army, and world pacifist discounts, they'll include all of those for their list price instead of just what makes sense. Sometimes you'll get lucky and have one that only picks the higher of conflicting ones or even better, doesn't include them at all for advertising.

Hmmm... I did not know that. I have been doing some car shopping recently. Have gone to about 4 dealerships and the prices that have been advertised on their sites and on Cap One's Auto Navigator site have been spot on. That said, there was one dealership that did not include taxes and other fees in the price listed online, which drove the price up a little.

Re: Car Gurus GLS Pre-approval

incognitony — Sat, 12 Sep 2020 01:33:21 GMT

My In-laws got a loan through Global Lending. Pretty cut-throat bunch compared to other lenders this year.

Re: Car Gurus GLS Pre-approval

Anonymous — Sat, 12 Sep 2020 08:13:08 GMT

@incognitony wrote:
My In-laws got a loan through Global Lending. Pretty cut-throat bunch compared to other lenders this year.

Out of curiosity, was their interest rate really high? With the exception of Cap One, the lenders they are affiliated with give me shark vibes. Hahaha! But I could be completely off.

Re: Car Gurus GLS Pre-approval

incognitony — Sat, 12 Sep 2020 14:28:31 GMT

@Anonymous wrote:
@incognitony wrote:
My In-laws got a loan through Global Lending. Pretty cut-throat bunch compared to other lenders this year.
Out of curiosity, was their interest rate really high? With the exception of Cap One, the lenders they are affiliated with give me shark vibes. Hahaha! But I could be completely off.

Around 12% but they didn't have good credit. They were threatening repo and wasn't even 30 days late.

Re: Car Gurus GLS Pre-approval

mrjerry — Sat, 12 Sep 2020 15:02:48 GMT

@Anonymous wrote:
Anyone ever use this? Is it legit? Are quoted rates on the pre approval iaccurate? How was the process? Rates for me are better than either Capone or the dealer.

Have you considered going directly through Mercedes Benz financial ? If you need a Mercedes guy.. I have been purchasing with mine for 15+ years..

Re: Car Gurus GLS Pre-approval

Anonymous — Sat, 12 Sep 2020 15:45:16 GMT

@mrjerry wrote:
@Anonymous wrote:
Anyone ever use this? Is it legit? Are quoted rates on the pre approval iaccurate? How was the process? Rates for me are better than either Capone or the dealer.
Have you considered going directly through Mercedes Benz financial ? If you need a Mercedes guy.. I have been purchasing with mine for 15+ years..

GLS is not the car, it is a lender called Global Lending Services.

Re: Car Gurus GLS Pre-approval

Anonymous — Sat, 12 Sep 2020 15:49:22 GMT

@incognitony wrote:
@Anonymous wrote:
@incognitony wrote:
My In-laws got a loan through Global Lending. Pretty cut-throat bunch compared to other lenders this year.
Out of curiosity, was their interest rate really high? With the exception of Cap One, the lenders they are affiliated with give me shark vibes. Hahaha! But I could be completely off.
Around 12% but they didn't have good credit. They were threatening repo and wasn't even 30 days late.

Did they obtain the pre approval through the Car Gurus website? Or did the dealer find them Global? They pre approved me around 13 which was better than the dealers 16.78.

Re: Car Gurus GLS Pre-approval

mrjerry — Sat, 12 Sep 2020 23:37:26 GMT

@Anonymous wrote:
@mrjerry wrote:
@Anonymous wrote:
Anyone ever use this? Is it legit? Are quoted rates on the pre approval iaccurate? How was the process? Rates for me are better than either Capone or the dealer.
Have you considered going directly through Mercedes Benz financial ? If you need a Mercedes guy.. I have been purchasing with mine for 15+ years..
GLS is not the car, it is a lender called Global Lending Services.

my bad.. lol

Re: Car Gurus GLS Pre-approval

incognitony — Wed, 16 Sep 2020 00:40:16 GMT

@Anonymous wrote:
@incognitony wrote:
@Anonymous wrote:
@incognitony wrote:
My In-laws got a loan through Global Lending. Pretty cut-throat bunch compared to other lenders this year.
Out of curiosity, was their interest rate really high? With the exception of Cap One, the lenders they are affiliated with give me shark vibes. Hahaha! But I could be completely off.
Around 12% but they didn't have good credit. They were threatening repo and wasn't even 30 days late.
Did they obtain the pre approval through the Car Gurus website? Or did the dealer find them Global? They pre approved me around 13 which was better than the dealers 16.78.

Pretty sure it was at the dealer.