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The Pub For General Automotive Related Talk |
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#1 | ||
Regular Member
Join Date: Oct 2010
Location: Central Coast
Posts: 181
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Hi all,
Looking at using Stratton Finance to finance my new car. Has anyone else used them and have any feedback? Usually use dealer finance so this is new to me. Thanks in advance
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FPV Falcon GS Boss 302 - No.233 of 250
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#2 | ||
FF.Com.Au Hardcore
Join Date: Oct 2005
Location: Hervey Bay
Posts: 4,197
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Stratton Finance is a broker and Carsales has recently bought a 50.1% controlling interest in it ... http://www.themotorreport.com.au/592...-profitability
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#3 | ||
Regular Member
Join Date: Mar 2006
Posts: 245
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I have used them 3 times. Great service...
They were the only ones that provided a package that didn't lump the interest(total amount owing) from day one of the loan. For example:- You borrow $40k + $10k interest..... From day one, all the other loans would have you owing $50k!! Stratton finance added the interest across the term of the loan... Before I used Stratton, I bought a used XR8 for $18k and used the dealer's finance. The car was written off in an accident 1 month later and I ended up still owing around $23k !!!!! Yes there is loan insurance, but why pay even more if you don't have to.. Check it out....It's worth while. |
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#4 | |||
FF.Com.Au Hardcore
Join Date: Nov 2006
Posts: 1,127
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#5 | ||
FF.Com.Au Hardcore
Join Date: Aug 2007
Posts: 1,874
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#6 | |||
Regular Member
Join Date: Oct 2010
Location: Central Coast
Posts: 181
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Quote:
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FPV Falcon GS Boss 302 - No.233 of 250
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#7 | |||
FF.Com.Au Hardcore
Join Date: Oct 2008
Posts: 1,094
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Quote:
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#8 | ||
Regular Member
Join Date: May 2013
Location: Canberra
Posts: 103
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try carloans.com.au, Im in the process of a new car purchase with them, they sourced the car at a awesome price and the interest rate they have offered me is 4.7%, best rate I could find!!
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#9 | ||
Regular Member
Join Date: Oct 2010
Location: Central Coast
Posts: 181
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Thanks for the heads up! That's a good rate, will check them out too...
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FPV Falcon GS Boss 302 - No.233 of 250
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#10 | ||
Too many Fords........ :)
Join Date: May 2011
Location: Melbz, Eastside
Posts: 737
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We ordered a new Ranger XLT work vehicle today - through Stratton.
They were $1,000 cheaper than the best deal we could find at a dealer. And the car gets delivered to us.
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Current Projects 97 EL V8 wagon - cool cruiser, or street bruiser? ![]() 93 XG panel van - at your door in 60 secs, or the first hr is FREE........ yep, that's the goal. ![]() 95 XG ute - awaiting a head gasket...... grrrrr. 74 XB GS pano..... factory optioned with all the good stuff..... not much there now. ![]() XB Coupe and Van TV Ad you know........ there's a little bit of Bathurst in every Ford Falcon.... think about it ![]() |
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#12 | ||
Regular Member
Join Date: Mar 2006
Posts: 245
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I had three quotes for my current car and stratton gave me a spreadsheet comparing the amount owing on the different loans from the first month to the last. I even questioned the dealer finance and they admitted that stratton were correct.
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#13 | ||
Regular Member
Join Date: Oct 2010
Location: Central Coast
Posts: 181
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Stratton have been pretty good so far, better than the dealer, that's for sure on service and price...
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FPV Falcon GS Boss 302 - No.233 of 250
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#14 | |||
FF.Com.Au Hardcore
Join Date: Apr 2014
Location: Melbourne
Posts: 1,289
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Towards the end of June, I secured a Ford Ranger XLT for my son... The dealership stated they would provide the finance and replied with 6.5% , after stating they could deliver better than 5%. .I asked that they revisit the provider and see whether they could sharpen the pencil and at least come to high 5%'s.. The dealership finance manager clearly stated 'if you can do better than 6.5% , I will be happy to receive a cheque'. So...this isn't about the dealership finance manager - I leave that for another day , if required . So, end of June I called Stratton's ,they stated on receipt of the application, they would have no problems in delivering a rate better than 6.5% , with no fee, and no early exist penalty, I asked what that rate was and with who , no reply . The Stratton representative stated , all fees are paid to them by the provider once approved and we would not need to pay them . I explained I needed the funding approved by 9 July, as the vehicle waiting to be fitted with accessories by ARB ... The week prior to delivery , I asked for contracts , and noted that the rate was 5.99% and we were being asked to pay $375 to the provider and a further $350 to Statton's . I called the representative , whom when off his nut and stated all matter of things . I stated in short , I had verbal confirmation that we would not be paying for his service and in fact he would be paid by the provider , further , 5.99% wasn't anywhere the figure he had quoted 3.75- 4.99% Agreed 5.99% was better than 6.5% . The representative stated , he would obtain a better rate than 5.99% and would address the commission payable to them. So , we proceeded again .. We confirmed that the vehicle was now ready to be picked up, and an appointment was made with Ford to pick up the car today . Mon , I called the Stratton representative and confirmed we needed the funds paid to the dealer by Friday , so as allowing Ford to release the vehicle on Sat. Was advised , we would have the contract by Tuesday , and funds paid to the dealer Wednesday No contracts , Tuesday and Wednesday . Thursday after doing my nanna on the phone we received the contracts , 5.49% and still a fee of $375 payable to the provider and $350 commission payable to Stratton's. At this 12hr , I couldn't afford to tell him what I felt , so , having taken the contract home, having it signed at the local Police Station , to confirm identification , I returned the contracts Friday morning at 9am as requested , with all doc and insurance confirmations . I asked for a reply for correctness and confirmation that as promised the funds were paid to Ford by 12. At 11am, I called and was advised , they had made an error with one of the doc they provided on the Thursday , and stated , they could not proceed , without the correction I would love to tell the representative what I felt , I had enough of this representative .. After repeated assurance , that he would personally insure that the provider would accelerate their administration of the contract and have the funds paid to Ford by 3pm , I calmed down and agreed once again to proceed. Well , after Ford calling all morning confirming that they still didn't have the funds, and with my son eager to pick up the vehicle today , having arranged with work to have the day off , I set about getting the correction completed and returned to Stratton's. (my head was telling me not too-but I had come this far now , and I felt it was now too late to turn around and start with someone else - I couldn't make the Saturday deadline if I had ) I was advised , on following up, the doc were now in order, and I would have confirmation of the funds paid to Ford by 3pm. I called at 2.30, 3.30 and at 4pm and still no confirmation. I was then advised , as long as Ford get the transfer by 6pm Friday , I will be in a position to pick up the car Saturday . At 6.30pm I was still on the phone to Stratton's, as I still had no confirmation. Ford called this morning at 8.30am confirming they did not have the funds and the car couldn't be released . Agree, Stratton's , will provide you a better rate , but , as far as I am concerned , other than a better rate , they also will deliver , untruth's , broken promises , and have no ability to understand the importance of meeting customer's needs. It would appear , from my experience , they are only concerned in getting your signature for their commission, and once they have that , everything else is a distant second in terms of importance . During this painful episode , i wish I just accepted that 6.5% at the dealer . Last edited by Batmobile; 18-07-2015 at 12:19 PM. |
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#15 | ||
Lyminge, Shepway, Kent
![]() ![]() Join Date: Oct 2008
Location: Geelong - Go Cats
Posts: 3,197
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That's a bit harsh.
Interest rates, scminterest rates, you need to compare monthly repayments with monthly repayments so you can really see what is being loaded into your loan.
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Mel Brooks sums it up best; "Comedy is when you fall into an open sewer and die, tragedy is when I get a paper cut" |
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#16 | ||
Cranky old bastard
Join Date: Dec 2004
Posts: 9,393
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There was an article in todays Tele comparing a loan with zero interest rate and one with (I cant remember but say 5%). and the devil was in the detail with the zero rate costing more over the five year period than the other, so you really need to be aware of whats what before you sign.
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#17 | |||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 22,909
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Quote:
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2022 RAM Laramie 5.7 2023.50 Ranger Wildtrak 3.0 V6 Premium Pack 2024 Everest Sport 3.0 V6 Touring Pack 2024.50 Mustang Darkhorse 6M Blue Ember + Appearance pack ETA Jan 25. |
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#18 | |||
FF.Com.Au Hardcore
Join Date: Apr 2014
Location: Melbourne
Posts: 1,289
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Quote:
It's not good enough - I say |
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