PDA

View Full Version : Paying too much $$



drysnymphe
04-15-2009, 10:03 PM
This seemed like the right section to ask this question. I am throwing away $120 a month for 3 years on something called a Wrap that a major local dealer put me in to. It's like a warranty on steroids or something.

They insisted that the finance company insisted that I have this or the finance company would not do the loan. Now mind you, this was several days AFTER they told me the financing was all squared away. (I was there when the finance lady was calling the banks to make the deal, so it seemed pretty done to me then.) I had to re-sign everything.

Well, almost a year to the day later, I'm buying Boingy and somehow this gets brought up in conversation with the dealer. He informs me that it's actually NOT LEGAL for a finance company to insist that I buy Wrap (or even GAP... but for a huge purchase like that car, there's no way I wouldn't) and that the dealer cooked this all up.

He suggested that if the finance company were to find out, the dealer would lose their relationship with them and that, at the least, I could get my money back and possibly some kind of a restructure on the loan as well.

Question is, is he right about this? Any lawyers on the board know? If he IS right, it's safe to assume the dealership has been pulling this for a long time on a lot of people and class action might be a possibility.

If so, do any bar members here care to pursue? This is a BIG dealer.

(They also insisted that I had to get all these extra special anti-theft add-ons or the finance company would not do the deal... I like these toys, but they sure added a lot to the sticker that probably didn't need to be added. Now I'm too upside down to refi with Desert Schools and get out of this credit card like interest Americredit is charging)

ademster
04-15-2009, 10:14 PM
good luck,


Im not looking forward to the bull dung that dealer sales men try to pull when I go to buy a new car here in a few days.


hate them worthless no good fer nothing ..... i;ll stop there.

drysnymphe
04-15-2009, 10:17 PM
get YOUR OWN financing before you go. best hard-won pearl of wisdom I ever collected buying a car

OlneyJeeps
04-16-2009, 05:40 AM
sales people get big bonuses for selling that crap, so will lie through teeth to pressure you into buying. Problem is proving what they said... you probably signed something (burried in 400 pages of contracts you sign) acknowleging that you were not "forced" to purchase

sounds like question for Jason DeMonto

Erich
04-16-2009, 06:26 AM
Good luck proving it. You better have a recording of them insisting you get the wrap. Otherwise its a case of the he said, she saifd...

allek@t
04-16-2009, 07:17 AM
I would talk to demonto about that one. Or consult americredit, find out if what they said is true, and if its not let them know that you need to restructure your loan, because you feel that you were taken advantage of after the financing had gone through.

Also, if its not true, contact the BBB and make sure you file a complaint letting them know about this dealership and what they did.

My brother has been in the car business for well over 15 years, I will talk with him and see what he has to say.

AZLugz
04-16-2009, 07:23 AM
I have not seen a finance department yet that did not pull crap like that. The last two vehicles I bought I had to deal with the lies and backtracking and just plain doing the paperwork wrong and "dirty" and that was a dealer on this board

Jdemonto
04-16-2009, 08:22 AM
I have not seen a finance department yet that did not pull crap like that. The last two vehicles I bought I had to deal with the lies and backtracking and just plain doing the paperwork wrong and "dirty" and that was a dealer on this board

Bill, nobody here lied to you and did anything wrong. In fact we had to cut the sales price of the car down quite a bit to help you out. I will stop there and not discuss more in the public, you brought this up not me.

Now, I was going to stay out of this since I am not a lawyer and this is the legal forum.

Anything you buy from a dealer can be canceled...like gap,warranties,insurance programs. I think the dealer where you bought bent the truth quite a bit. The finance companies can be lured in with Gap and waranties some times esp secondary banks. If you are unhappy with what yu bought you should be able to cancel what you feel you do need to have.

Jason

terron gregg
04-16-2009, 08:37 AM
thats why i will always go in with an approved amount from my lender i

Tirith
04-16-2009, 08:57 AM
Want to see what goes on behind the scenes at a typical dealership? Read this:

Confessions of a Car Salesman (http://www.edmunds.com/advice/buying/articles/42962/article.html)

A lot of this was not a shock to me. But according to this guy, the fault for high-pressure and/or unscrupulous tactics lies with the managers, not necessarily with the salespeople. If you are told to sell 2 cars a week or you're fired, you will tend to change your tactics a bit.

No offense to any car salesmen on here, but I just hate dealing with them. I'd rather go get a root canal. I've bought enough vehicles over the years that I've learned many of the pitfalls and gotchas, but I still got caught recently. Buying a new car a few weeks ago, I resisted every "extra" the finance guy pitched to me in his high-pressure sales technique. Then he got to the car alarm. He claimed the dealer price was normally over $500, but since I was USAA, I got it for $200. I thought this was a good deal, so I had him explain in detail about the alarm. From what he told me, it was actually a good deal, similar to the Viper II I put in my Cherokee many years ago for twice the cost. I had planned on getting one aftermarket anyway, so i bought it.

I found out later that the alarm is OME from the manufacturer and integral to the vehicle. The dealership just installs a cheap little shock sensor that they tie into the system. And tries to charge $500 for it. :kenny::2guns::banghead:

But anyway, the best way around most of their shenanigans is to prepare your own financing ahead of time. Do not deal with their finance. I walked in with a check from USAA and told them to take it or leave it. They took it.

I love USAA. It seems that those four little letters deflate finance, insurance, bankers, and insurance salesman everywhere. :D

drysnymphe
04-16-2009, 09:03 AM
USAA... I really need to get set up with them. My dad was a member. I tried to get an account online but it didn't ask me if my relatives were servicemen, just if I was. :(

AZLugz
04-16-2009, 01:09 PM
yea, call back a week after the deal is thru and require more money and twice the interest on someone I am "helping" get a vehicle

then the truck I buy breaks down three days later and your shop says sorry, we can't work on that and then I find out your guys "forgot" to submit the warranty they heavily charged me for.

I am still having trouble with the car above that I co-signed for because the idiot in your finance put the car and title in MY name and not the buyers name even tho I only co-signed....yea, he tried to give me a bunch of BullStuff about why the the other finance person I talked to laughed about and telliing her that putting it in my name was necessary to get a better rate using my credit score is CRAP, you still charged her 18% and more than book value for the vehicle then through a $1000 down requirement a week later, face it, your guys are as shafy as the rest of them.


On top of that, I have still never gotten my warranty papers from you guys, just a warranty number on the phone

ohiotj
04-16-2009, 01:54 PM
AZLUGZ and ADEMSTER,

Everyone has the right to say no. If you are too stupid to understand what a person is trying to sell then please stay away. Go buy a car private party. You will save yourself any problems that are above you. However a salesman provides a service. People have to pay for a service. Are realtors as bad as a car salesman? They do the same thing we do. All i can say is wise up and don't bother people for what they do.

drysnymphe
04-16-2009, 02:03 PM
Can we leave off the personal attacks, please? This is not the place.

AZLugz
04-16-2009, 02:26 PM
AZLUGZ and ADEMSTER,

Everyone has the right to say no. If you are too stupid to understand what a person is trying to sell then please stay away. Go buy a car private party. You will save yourself any problems that are above you. However a salesman provides a service. People have to pay for a service. Are realtors as bad as a car salesman? They do the same thing we do. All i can say is wise up and don't bother people for what they do.

O I see, you have never been taken then, never trusted and got cheated. Man, I wish I was cool like you

ohiotj
04-16-2009, 02:45 PM
Sorry about the personal attacks. Jason is right, you can cancel most warranties for a prorated amount. Go to the dealer and tell them you want to cancel the products you bought. Their should be no probelms with that.


I got my lights cruched when i bought my wifes wedding ring. Probably paid close to 100% over their cost for it, so they made something like 3k on my dumb ace. However i take it as a lesson learned now. I would never blame them for trying to provide for their family.

RokNRich
04-16-2009, 04:55 PM
can we leave off the personal attacks, please? This is not the place.

x2.

OlneyJeeps
04-16-2009, 05:04 PM
Sorry about the personal attacks. Jason is right, you can cancel most warranties for a prorated amount. Go to the dealer and tell them you want to cancel the products you bought. Their should be no probelms with that.


I got my lights cruched when i bought my wifes wedding ring. Probably paid close to 100% over their cost for it, so they made something like 3k on my dumb ace. However i take it as a lesson learned now. I would never blame them for trying to provide for their family.


sorry to burst your bubble, but 100% over cost is a screaming deal in the jewelry trade ... average markup is 300-700% (used to work for Zales)

ohiotj
04-16-2009, 05:33 PM
Ok let me put it this way, they got full asking price for the ring. What their markup percentage is, i don't know. I know the saleslady sleep good after that one!!

Fire Ball
04-16-2009, 07:32 PM
Friends don't let friends go to dealerships.

There are so many other sources of vehicles out there, why let them take the extra proffit.

Sorry Jason :D