Was I ripped off by Used Car Dealer?
I recently bought a 2011 Toyota Prius with 40,000 miles, and runs great. The list price was $16,000.
However, when I was directed to the financing office, the pushy associate gave me the contract that listed a total cost of over $21,000, much higher than what I was expecting to pay, so I ended up speaking with my earlier salesman further and also to the financial manager about it. They said that since this was my first large loan payment, I did not have enough credit built up so that's why the total cost had been higher than what I expected.
The financial manager said that he would see to it that we get all unnecessary extended warranty/care package costs taken out that I didn't want so that the total would end up being closer to what I had imagined, around $18,000.
When I returned to the financial office, it took a little bit but finally the associate told me that he would be able to knock the "Unpaid Balance Due" from close to $21,000 down to $19000. I agreed to pay a total unpaid balance of $19198.
Later, however, when I got home, I realized that this unpaid balance of $19000 did not include the $3000 down payment that I paid AFTER my signing of the contract. As a result, I feel that I was mislead into thinking that my total unpaid balance was $19000, not $22000.
First off, would you say that I was ripped off for paying $22,000 (or is this how it usually is for first time car buyers)? Also, do you think it'd be possible to get a refund due to being mislead about how much my total "unpaid" balance was?
I appreciate all responses.
Answers
Sounds like they took advantage of you from what you are outlining with your numbers. Don't know if there's much you can do about it now other than write some bad reviews about the dealer.
We'd really have to look at the contract to say anything accurately---selling price, tax and license, any other "fees", interest rate, length of the loan, etc.