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Smart Shopper Buying Tips - How Do I Get the Best Deal?
5170 messages, Last post on Dec 06, 2009 at 7:51 PM
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Replying to: usedcarsonly (Jun 05, 2007 11:17 am) They will probably tell you to make sure it is first payment default because the dealer will be on the hook for the whole thing, you will then have a repo in your bureau and get to pay 22% interest on your next car if you can get it financed. Not real stellar advice IMO |
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Replying to: kiawah (Jun 05, 2007 12:09 pm) |
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Sorry for the lack of detail It was a 2001 Volvo C70 with 40k miles on it. She called me when she was at the dealership and said that they offered her the vehicle w/ $2000 down payment and payments for $315/month. I asked her what the full asking price was for the vehicle, and she didn't even know. She had to go back and ask them so that she could tell me ($18k). I immediately told her to just walk away...and her response was "OK." Didn't want her making a purchase based off emotion rather than rationalization. Now, did she walk away like her brother told her? Of course not! And now she's stuck with that payment and a car that she didn't necessarily want for the next 4 years. The dealership is possibly willing to exchange it for another, less expensive vehicle through THEIR dealership only (which is understandable). I'm sure some of the value will be knocked off, but hopefully she can work something out. I really wish that I could catch a flight out to L.A. to help her out (as I currently live in GA).  kiawah - She only kept the vehicle overnight, and tried to return it the following day like the salesman told her.
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Replying to: blackmba (Jun 05, 2007 4:04 pm)
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Replying to: blufz1 (Jun 05, 2007 4:11 pm) Ya it will go something like this Lawyer: You said she could bring it back Dealer: Where does it say that. All we have is a contract she signed. Lawyer: My client was given a verbal promise Dealer: Where does it say that? All we have is the contract she signed. Lawyer: Your Sales Person told her that she could bring it back if she does not like it> Dealer: Where does it say that? All we have is the contract she signed. I don't condone there action. If that is the whole story and what really happened then I feel bad for her. But she bought a car. If she does not know enough to get things in writing in any contract then she has just learned. Car Dearlers, Plumbers, Accountants, Lawyers, Police Officer, Most real good, a few crooked as hell.
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Replying to: joel0622 (Jun 05, 2007 5:36 pm) |
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Replying to: blackmba (Jun 05, 2007 4:04 pm) |
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Replying to: joel0622 (Jun 05, 2007 5:36 pm) Lawyer: You said she could bring it back Dealer: Talk to our lawyer Lawyer: My client was given a verbal promise Dealer: Talk to our lawyer. Lawyer: Your Sales Person told her that she could bring it back if she does not like it> Dealer: Talk to our lawyer. |
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So we have a 2001 Volvo 70 series - admittedly a very nice car. The payments come out to $15,120 plus $2,000 down. That's actually not so bad considering interest is included in that. Probably something like a 12-13K selling price plus a bit higher interest thatn she'd probably like. So they charge her a lot more in interest - so pay it off quicker and avoid it. Run the numbers - if it's actually 4 years, then she's not doing so bad, really. And, it really is a decent enough car. Live and learn. It's not a total disaster by the looks of it.(14-16K is the typical dealer asking price at cars.com for a similar vehicle) Now, if it's five years or has some balloon payment or whatnot hidden... Then it's a whole other matter.
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Replying to: plekto (Jun 05, 2007 10:12 pm) Perceptions of cars and how they linger once made intrigues me. I recall the Oldsmobile on top of the superstrong Volvo advertisements; turns out they reinforced the roofs. Several coworkers in that era had bought Volve for just that reason. That was before they became Ford-owned. Just left friends' home near Nashville on Monday. Their neighbor left his car running in driveway to talk to the wife about their gazebo they just finished when he saw her out in it that afternoon. The Volvo wagon started smoking from the instrument panel while they were talking. Burned to the ground. Those nice cars can have defects like all. BTW, he's an attorney. Whom does he sue? :::::::::::: I think the attorney talk in the ladies case on the forum here could go like this: My client was given an oral agreement that she could return the car. Talk to our lawyer. She will be defaulting on the first payment because your dealership didn't follow through in good faith. We realize she may have signed away the return privileges by mistake. Talk to our lawyer. It will cost you in the financing with first payment default. Is there some compromise with a different car suitable at a fair cost that she will want to keep unlike the one promised here. The publicity would not be complimentary to your business Let me see what we have available.
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