Chris Myers Nissan 200 Mile Round Trip Lie Daphne Alabama
I called Danny (Business Manager) at Chris Myers Nissan because I was told they had a 50% off sale on selected vehicles. Speaking to Danny I told him the truth of my situation with all specifics.
I told him that I had a 2006 Ford Crown Victoria that I was upside down by $11,000.00 by the black book dealers use for trade-in, (NADA = $16,000+), and I need to know if he had anything that he could absorb that negative equity in and he told me yes he make a deal on one of his Titan Trucks no problem. I told him I lived on the other side of Pensacola Fl and wanted to be sure before I made a 100 mile one way trip. He assured me it would be no problem.
Once I arrived they assessed my vehicle and even said that I maintained it excellently, then had me drive a 2008 Pathfinder, I loved it and said lets do it. Here is the problem; The Pathfinder lists for $35,700, by what I was told by the dealership, (Danny), that would make the price $17,850, so my trade value of $12,000 black book would leave roughly $11,750 to add back into the loan making it roughly $29,600.
The problem, they would only give $9,000 on my car after promising me they could make the deal work, so I had to drive another 100 miles home for a wasted trip. Don't use them, they lie.
Bob
Pace, Florida
U.S.A.
1 Updates & Rebuttals
Cory
San Antonio,Texas,
U.S.A.
Same Old Story
#2Consumer Suggestion
Mon, July 14, 2008
ANYTIME I hear those car commercial where the dealers say "We'll pay off your trade-in". I cringe. Why do people fall for it? They WILL pay it off AND ADD it ON to the balance of their new car AND screw them for thousands more. This is a perfect example. Straight out of the car dealers playbook. They did tell you they woukl pay your old car off. They just forgot to tell you they would add the negative balance onto the new note and deducted another $6,000 on top of that. WHY do you think you had soo much negative balance on this vehicle? The last dealer did the same thing and added negative balance from your last vehicle onto the crown vic. Trading in a 2 year old vehicle IS a bad idea in most cases. In April, traded, in a 2006 tundra on a 2008 tundra which cost me $2,000. But they can't give away those new tundras and I had no negative equity. What these fools don't understand is they are piling negative equity on top of negative equity. Pretty soon you'll own a $17,000 that you owe $38,000 on and as soon as you drive it off the dealer's lot, it's worth MAYBE $14,000. Drive the crown vic until the wheels fall off and it's paid for. Years ago my wife had a suburu lagacy. Dealer tries to give us $5,000 trade-in and she owed $8,500. Retail is $13,000, wholesale is $11,000 and loan is $9,700. I put the vehicle in the paper for $9,700. It went in 10 minutes. Got an extra $4,700 by selling it myself. The dealer was gonna put the $3,500 negative equity onto the vehicle he was trying to sell us. Paid the legacy off, pocketed an extra $1,200 and bought the vehicle from another dealer for thousands less then the first dealer was trying to sell us the vehicle for without the trade-in.