Car Gurus GLS Pre-approval

Anonymous · ‎09-10-2020

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.

Anonymous · ‎09-10-2020

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...

ccquest · ‎09-11-2020

@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.

as of 1/1/23
Current Cards:

Anonymous · ‎09-11-2020

@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.

incognitony · ‎09-11-2020

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

Anonymous · ‎09-12-2020

@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.

incognitony · ‎09-12-2020

@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.

mrjerry · ‎09-12-2020

@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..

Anonymous · ‎09-12-2020

@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.

Anonymous · ‎09-12-2020

@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.