New err used car

Chibits12 · Post by **Chibits12** » Sat Feb 21, 2009 9:04 am

UPDATE: I returned the car to the dealership Friday. They gave me within 5 days to return it, no questions asked. Reason? I'll be saving some money to finish my CPA requirements.

I do have the Neon back once again. Man I missed her so much. Yay for no car payments once again!

I can't see the big benefits of a new car right now and have fully realized that.

TheRandom1 · Post by **TheRandom1** » Sat Feb 21, 2009 9:33 am

Wuss...

Chibits12 · Post by **Chibits12** » Sat Feb 21, 2009 9:44 am

To be honest I was sensing a scam seriously. Never, ever, get financed by a used car dealer. Always get your own bank to do it.

I read those fine prints and what do you know? None of the damn things I signed were final! Yesterday morning they gave me a voicemail about the whole deal not being final. I'm like WTF were those forms I signed then?

So for my own best interest, give me back my $300 appraised Neon, downpayment, and here's the Cobalt keys. I'm outta here.

Mind you that I'm a first time buyer with very little credit, just student loans. I definitely felt a little uncomfortable during the whole deal.

Please save yourselves and always get a bank to finance, no stealerships. It was a dick move on my part in the beginning for falling for it. They were probably planning on jacking up the interest rates to get some cash for their own.

TheRandom1 · Post by **TheRandom1** » Sat Feb 21, 2009 9:47 am

Wait, when did Xtian change his sn?

sorry man, I had to. I agree, used car dealer financing is severely screwed up!

Chibits12 · Post by **Chibits12** » Sat Feb 21, 2009 9:49 am

Shit is that what happened with Xtian?

Fuck the used car dealerships dude. They can all go to hell.

TheRandom1 · Post by **TheRandom1** » Sat Feb 21, 2009 9:51 am

Something like that, yes. Or so he claims, but it was like... 3 months later or something.

Chibits12 · Post by **Chibits12** » Sat Feb 21, 2009 10:06 am

I made copies of those paperwork I have. Wait a sec lemme share it...

Here's what bothered me on the Retail Installment Sales Contract. This was a small print and they don't explain any crap like this, they're all in for the money my friend:

"There is No Cooling Off Period"

On the bottom in a small box says "the APR may be negotiable with the seller. The Seller may assign this contract and retain its right to receive a part of the Finance Charge." In other words, you're fucked and you know it.

The car's not really financed until some bank actually takes over it. So if they say you're approved and give the keys after a day at a used car lot, there's something wrong.

This tactic's completely illegal I'm telling ya but I just don't need the hassle and bullshit right now in my life. I learned a valuable lesson out of this: there is no binding contract when it comes to dealer financing, they can increase your down payments and interests as they please...

TheRandom1 · Post by **TheRandom1** » Sat Feb 21, 2009 10:27 am

Agreed, best bet really is to talk to your bank and walk into the dealer with an amount in your head that you're approved for. Then when you find something, talk to your bank and set up the financing, much much better...