POUND AUTOMOTIVE CHAD CAR DEALERSHIP RIP OFF Gaston South Carolina
I WENT TO TO LOOK AT A CAR AT POUND AUTO. IN GASTON SC .I DECIDED TO BUY A 2014 VW PASSAT. SIGNED PAPER WORK. GOT HOME SEEN THAT THE TOTAL PRICE OF CAR WAS WRONG 1000 DOLLARS DIFFERENCEAT THE END WERE IT SAYS TOTAL SALE PRICE ON SALEs CONTRACT.ALSO WHEN I CALCULATED WHAT 3.99% OF 12288 WAS THEY SAID ON PAPER WORK 1352.76 IT SUPPOSED TO BE 490.29 I GAVE THEM 1000$ DOWN LATE DONT KNOW WHAT TO DO?sorry about caps
1 Updates & Rebuttals
FloridaNative
West Palm Beach,Florida,
United States
What does your amortization schedule say for total interest?
#2Consumer Comment
Fri, December 22, 2017
When you purchase and finance a vehicle you will see the interest rate and the APR on the contract. It looks like you have a simple interest loan for your vehicle loan from the statement you made about the 3.99% However, in your contract you will see that it is 3.99% per year. If you have a 3 year loan, for example, you are going to pay interest over the entire 3 years. If you don't have an amortization schedule to check your total interest, go to Bankrate.com and put your loan amount, loan term and interest rate into the auto calculator to see a complete amortization for that loan. You will see that it is the amount in the contract. This is how all simple interest loans work. Take the time to research it first before you call the dealer.