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Used Hyundai Tucson

2 messages,  Last post on Oct 21, 2007 at 12:09 PM

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What is this discussion about? Hyundai Tucson, Car Buying, SUV

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#1 of 2 Used Hyundai Tucson by joliebean Oct 21, 2007 (10:38 am)
My husband and I currently own a 2002 hyundai santa fe and are wanting to upgrade to the tucson (used).   We get to the dealer just after 12pm, test drive a 2005 tucson with 14,400 miles on it that was another companies lease. The center console has a crack in it and there's a small dent in it that he didn't point out on this model. He did see a dent on another model of the same year, same color with less miles on it and told us he would choose the model we test drove because the other one had a ding in it (red flag?)   We go to the salesman's office. He first asks about my trade in. I tell him what I think I owe on my current vehicle ($8000 give or take) and he leaves to confirm with the dealer. When he comes back and says "You were right but you're also upside down on your loan by $4000. My manager says he will only give you $4000 for the trade and the balance will roll over onto the new car. I talked him into adding $2000 for the trade, I really talked your car up to get more from him" (Umm okay). He whips out that 4 square paper thing.   1. $18,999 total on this used vehicle 2. subtracted $2000 from that price because of an "internet special" 3. Added $4000 for the balance of my trade 4. Final figure was $21,500 (not including tax, tags, etc.) 5. Interest rate would be around 19% 6. Monthly payments would be $660 for 5 years (HAHAHA)   From what I understand of this, I will be paying 32% interest, not 19% and the car should be $20000 not $21000. Am I missing something? Because if I am please point it out.   We keep going back and forth. He's trying to get us to agree to the payment of $660. When we don't budge he passes us onto the "new employee."   New guy comes in and starts all over again with us from the beginning. He doesn't seem like a "new employee" without experience either. He gets in and goes straight to work, very agressive guy. He tells us:   1. We're wanting too much car 2. The banks set the interest rate, not them 3. The banks want to see "good effort" on our part so we will need a big down payment 4. We have to bite the bullet and settle for their deal 5. He calls my current dealer to figure out what we actually owe on our car   My dealer won't give him any info unless I consent but first they tell me that because I've been making extra payments that I owe LESS than the vehicle's value and to not accept anything less than the value ($7500) or payoff of the loan $6000 (who knows, maybe my dealer sucks too). I didn't share this information with the salesman--I wanted to see what he would say/do at this point,see if they were being honest with me. Just to test the waters a bit more.   New guy confirms everything by fax and disappears to "see what we actually will qualify for." Meanwhile old salesman comes back and asks how things are going. We tell him what happened and he says "that's a good thing because if he couldn't make this deal you'd be gone already." (Ohh? You don't say.)   When new guy comes back he says that we are still upside down on our loan and that we owe $4000 more than what we owe. He says we still owe $8000. I dont say anything. I just let him talk and stick to my guns. I'm not going to make payments on a used car in the amount of $660--that's just outrageous, I think.   New guy then says 1. "I need the bank to write us a check and I don't think they're going to approve this" 2. You realize you are upside down on your current loan? and disappears...   New guy comes back and says we can go home. The banks are closing and there's no time to process much of anything until the next day. He says he will call us either saturday or sunday to make arrangements to deliver the car and bring the paperwork to us. I think it's his last ditch effort to get us to cave in to his demands. He even throws in a "free tank of gas." WHATEVERR.   Just for my own amusement I called him yesterday and ask how things are going. He tells me he hasn't gotten an answer yet but will definitely call if not saturday, then sunday with a definite yes or no. I say okay and end the call.   I'm glad the financing didn't go through because I would've bought that car without knowing it's value and I would've kicked myself for it too.   The shopping continues.... Replies to this message: tidester (Oct 21, 2007 12:09 pm)
#2 of 2 Re: Used Hyundai Tucson [joliebean] by tidester HOST Oct 21, 2007 (12:09 pm)
Replying to: joliebean (Oct 21, 2007 10:38 am) I didn't know banks could charge interest rates that high.   Owe more than it's worth... I'm upside down and I can't get up! may be helpful.   tidester, host SUVs and Smart Shopper

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