Bill Heard Chevrolet in Sanford, FL does it again! Ripoff Liars thieves
I am 23 years old, and fresh into the job market. I began looking at Silverado pick up trucks in 2001. I finally narrowed my search down to a short bed Silverado w/a V8 engine. I went into the dealer with my trade, a 99 S-10 pick up truck. I still owed quite a bit of money on it, about $10,000 roughly. I had placed $10,000 worth of payments into this vehicle over a 2.5 year period. I figured I had quite a bit of equity into the vehicle.
I then met with a sales person, who's name I'm not sure I am able to mention. We began speaking about numbers for the proposed vehicle. The sticker on the truck was $22,700 for the truck. They then scared me with a purchase payment of $650/month with $6,000 down! I was appauled to say the least. I couldn't believe it. They then talked me into a lease at a payment of $550/month. I really liked the truck because it had power everything I I really wanted it.
I was a bit hesitant about leasing a vehicle because I have never had experience with a lease. I didn't want to lease, but three people hounded me to do so. They then wanted $2,000 down. I did not agree to any of the terms. I thought that a payment of $400/month with no money down would be sufficient. That came out to $24,000 which I thought was reasonable with the tax on the vehcile and registration fees. I was then rushed into finance and the payment jumped up by $50/month which is roughly $3,000 more dollars than I wanted to pay. They then upped the lease term to 66 months, which was another $2,700 I did not want to pay. I demanded my keys back that instant but they didn't understand what the problem was! I was furious to say the least. I couldn't believe it.
After argueing for about an hour I finally gave in. This time does not include the argueing over the $400 payment three hours before as it took this long to comprimise. They would not give me my keys back, I had not yet signed the vehicle lease papers with Huntington National Bank. I thought the only way out of the dealership was to sign the paperwork! Big mistake. The next day, I wanted to return the truck, but nobody would help me. They then insisted that I fill out their vehicle purchase satisfaction survey with a "Strongly Satisfied" accross the board of questions on the survey. I told them I was not satisfied at all and I would fill in the lowest possible response on the survey. They said, ok, but we can't help you with that part of the vehicle purchase! I said, "well isn't that what you are being graded on?" I guess they don't understand how a survey works.
I called four days in a row trying to get results. I found out on the fourth day that there is a three day vehicle return law, no questions asked. All I had to do was call the police! I have just made the eighth payment on the truck, at a payment of $451.59/month! Outrageous! My payments total $29,804.94, and If I want to purchase the truck, it will be an additional $7,000. I have decided to take care of the truck, and purhcase it, even though this is an expensive purchase, I don't want to purchase another vehicle for a long time! This will be an expensive mistake, but we most often learn more from a negative experience than a positive one!
My main complaints are that I was not given my vehicle keys back, and that the payment and vehicle lease term jumped up from what they were supposed to be! I hope this dealership is fined again and victims like me can seek restitution. I have since filed a claim with the state attorney generals office!
Matt
Lake Mary, Florida
4 Updates & Rebuttals
Lora
marietta,Georgia,
NOT ALL CAR SALES PEOPLE ARE DIRT BALLS!!
#5UPDATE EX-employee responds
Wed, November 06, 2002
Ok first of all, NOT ALL CAR SALES PEOPLE ARE DIRT BALLS!! I am an ex car sales lady who does not believe in scamming consumers and getting them to sign a contract for my benefit!
Lending institutions have guidelines for loaning money to the public. If certain criteria aren't met- no loan. An automoblie is the WORST investment one can buy. The young man who felt he was forced into signing the financial agreement, is a naive, uneducated consumer.
Unfortuneately, it happens daily. I'll admit, I have seen and heard of some pretty unbelievable things while selling cars, but I chose not to be a part of it.
If you were turned down for a loan, the lender has to notify you in writing, and you have a right to obtain your credit report within 30 days. The only reason a dealer wont let you "see" or "have" your credit report is so as a consumer you wont be educated and shop them. Besides, if you have good credit and know it, why do you need a copy of your report from the dealership? As far as monthly payment goes...based on average credit, an interest rate of 10%, you can figure on $25 in payment per $1000 financed. That is of course with NO money down, and NO negative equity (owing more than its worth).
If the employees of the dealership wanted to "pad" your income, maybe you misunderstood them. Lending institutions want to see proof of income. If you couldn't prove your child support on paper, they cannot include it in your monthly income.
Most auto lenders wont lend if the consumer makes less than $1200/month.
What gets me is when people buy a house they NEGOCIATE the price. They have NO problems proving income then. They also expect they will have to cough up some money.
Remember: Unless you plan to take your vehicle with you to the grave. You need to put down money-otherwise you will continually roll negative equity into every auto loan. Best advise---negociate price, put at least the tax, title, and licencing fees down, and don't bite off more than you can chew. If you can't budget for what you want, either save up for it or downsize (at least its new).
Brandon
Mesa,Arizona,
If only you know!
#5Consumer Comment
Wed, November 06, 2002
This is in response to Will's comment; just so you know Will, that most of the time when people leave the lot with a new vehicle, financing hasn't been secured yet.
Unless you have over a 720 ISSAC score, which would put you on the 'fast track' as it is sometimes referred to, the dealerships still have to submit your credit to the banks and await approval which can take up to two weeks or so.
Credit scores over 720 pretty much get immediate approval. So, next time YOU purchase a new car, if your credit score is less than 720, just think about it; for the first couple of weeks the car isn't even yours yet, not even the banks...it's the dealerships and they're loaning it to you!
Donna
Glendale,Arizona,
Rebuttal to the rebuttal ..Looking forward to justice.
#5Consumer Suggestion
Wed, November 06, 2002
The salesmen just wear down people and scare them into making a deal that costs them more than what they were originally promised. In my case, the salesmen told me I didn't make enough to buy the vehicle or lease it for that matter. He also tells me not to put down my child support amount of $200.00 a month as other income. So I left it out on the credit application. Unbeknownst to me, he, in his own handwriting, fills in that I make $4,800.00 a year in rent while in the finance office.
Never mind I didn't own rental property and never told him I did. Basically, I had an excellent credit record so I find out that he needed to pad my income to get it closer to the amount the bank would accept. The bank does not have to verify the amount I make a year and they usually won't on someone like myself that believes in paying all my bills. I'm a good risk to them. Here's the bigger problem. Dealers will not give you a copy of your credit application. Gee, I wonder why?
Most contracts list, as one of the clauses that the buyer has received copies of various dealer forms that are used to make the deal. The one thing not on the list is a copy of your credit application. I never would have known about this income padding if not for an unusual circumstance.
I actually had one salesman from another dealer tell me that if I were to add 450.00 to 500.00 more to my monthly income, he guaranteed me that the bank would not call my employer. He actually suggested that I pad my income, like the previous salesman did behind my back!! I'm sure glad I got that statement on tape!
Stick Bogart is right, salesmen do take advantage of the customers and so out of greed. Before you sign any papers to make a deal, ask the salesman for a copy (preferably the original top copy). If they refuse, walk out and screw them. If he didn't pad your income you should be able to obtain a copy of the application.
My lawsuit against a dealer is progressing and they seem to want to settle. I'm not surprised as they are being sued by others as well.
You sound like a former salesperson at an auto dealership. We're just a bunch of suckers to the salespeople at those places.
Sign me: Looking forward to justice.
WILL
DENVER,Colorado,
TAKE RESPONSIBILITY.
#5Consumer Comment
Sat, March 02, 2002
When will people grow-up and take the responsibility of their own dumb mistakes.They screwed me!BLAH BLAH BLAH,THEY TRICKED ME!BLAH BLAH BLAH,They forced me too sign!BLAH BLAH BLAH!!! People walk into dealerships just fine,then are unable to walk out!WHY!I'm pretty sure dealers don't break their legs if the deal goes south!
What's with people who read their contracts AFTER they get home OR take vehicles without financing approved!Building up equity on a car making payments is about the most moronic thing I've read in awhile.
I love this site!!How stupid people can be really facinates me sometimes.MOST PEOPLE GET SCREWED BECAUSE OF THEIR OWN STUPID DECISIONS!The customer can't be FORCED into signing anything.