What this dealer is trying to do is get a "kick-back" from the lending entity for originating a financing deal, a common but frequently overlooked revenue source for dealerships. Never look back as you walk away from that one and find someone who will appreciate your cash.
Buying New MB in Florida Requires Financing?
Hi,
I believe I have found the 2014 S550 that I would like at a dealer in Florida. The dealer is claiming that although I want to pay cash (wire or cashier's check) for the car, that Florida regulations require anyone from out of state to finance at least half of the price of the car. They are saying that even Florida residents have to jump through alot of hoops to be able to pay cash.
This sounds absolutely crazy to me. Is this dealer simply trying to pick up a share of the financing charges, or has anyone actually heard of something like this? It's a deal breaker for me, because I don't finance my cars and don't want to start now.
If anyone can shed any light on whether or not this is a real thing, I would appreciate it.
I believe I have found the 2014 S550 that I would like at a dealer in Florida. The dealer is claiming that although I want to pay cash (wire or cashier's check) for the car, that Florida regulations require anyone from out of state to finance at least half of the price of the car. They are saying that even Florida residents have to jump through alot of hoops to be able to pay cash.
This sounds absolutely crazy to me. Is this dealer simply trying to pick up a share of the financing charges, or has anyone actually heard of something like this? It's a deal breaker for me, because I don't finance my cars and don't want to start now.
If anyone can shed any light on whether or not this is a real thing, I would appreciate it.
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