Stevenson Automotive "I'm having extreme difficulties with your store, Stevenson Chevrolet, in Swansboro, NC. back in February, 2014, I traded my 2013 Ford F150 in for a Chevrolet Express 1500 Conversion Van, fully loaded, leather interior. Currently, the last three days, ive been trying to trade this van in for a different vehicle. Front wheel drive, gas saver, nothing fancy or new. I'm being told that the trade in value of the van is significantly lower than the value appraised by one of your salesmen (back in February) when i applied for a loan. The bank denied the loan saying the vehicle was over priced. The sales man physically went with us to the bank to point out the upgrades to the banks representative, to convince them that a TV and vhs player made the vehicle worth it's asking price. I bought a dvd player and replaced the outdated vhs. I'm being told the value of my van is in the 4-7000$ range, yet I owe 16000$ as of today, after paying $313 a month for ten months. Your company will not accept the "upgrades" as what they once were, saying they are not upgrades anymore. Two banks, and another branch of your same company reported to us today that we may have been scammed on trading in my 2013 F150 by 8000$ plus. This sales man no longer works for you. I'm not asking to be reimbursed for the money ive lost, however I am asking for help to get into a cheaper vehicle more fit for my life, yet the man I spoke with at Stevenson Chevrolet today, told me he had a vehicle lined up for me, an equinox for roughly 9000$. When I got to the store, he had lined up a 2015 Malibu for 23000$. Very nice vehicle but not in my price range or what I was asking for, or even what we spoke about over the phone. I need the trade in value on my van accurately assessed, with the upgrades still included in the value, no different than when i purchased it. Not as an empty shell, but as the luxury conversion van your sales associate convinced my bank was worth 16000$. Or at least be told that you won't do anything for me and that you let one of your employees scam me for 10000$. thank you for your time. Waiting for reply" Jacksonville nc
"I'm having extreme difficulties with your store, Stevenson Chevrolet, in Swansboro, NC. back in February, 2014, I traded my 2013 Ford F150 in for a Chevrolet Express 1500 Conversion Van, fully loaded, leather interior. Currently, the last three days, iv been trying to trade this van in for a different vehicle. Front wheel drive, gas saver, nothing fancy or new. I'm being told that the trade in value of the van is significantly lower than the value appraised by one of your salesmen (back in February) when i applied for a loan. The bank denied the loan saying the vehicle was over priced. The sales man physically went with us to the bank to point out the upgrades to the banks representative, to convince them that a TV and vhs player made the vehicle worth it's asking price. I bought a dvd player and replaced the outdated vhs. I'm being told the value of my van is in the 4-7000$ range, yet I owe 16000$ as of today, after paying 313$ a month for ten months. Your company will not accept the "upgrades" as what they once were, saying they are not upgrades anymore. Two banks, and another branch of your same company reported to us today that we may have been scammed on trading in my 2013 F150 by 8000$ plus. This sales man no longer works for you. I'm not asking to be reimbursed for the money iv lost, however I am asking for help to get into a cheaper vehicle more fit for my life, yet the man I spoke with at Stevenson Chevrolet today, told me he had a vehicle lined up for me, an equinox for roughly 9000$. When I got to the store, he had lined up a 2015 Malibu for 23000$. Very nice vehicle but not in my price range or what I was asking for, or even what we spoke about over the phone. I need the trade in value on my van accurately assessed, with the upgrades still included in the value, no different than when i purchased it. Not as an empty shell, but as the luxury conversion van your sales associate convinced my bank was worth 16000$. Or at least be told that you won't do anything for me and that you let one of your employees scam me for 10000$. thank you for your time. Waiting for reply"
That is what I have been trying to send to John Stevenson and Paul McCarthy with no luck.. For some reason send doesn't work on the site!!!!
2 Updates & Rebuttals
Dana
Hubert,North Carolina,
Paul is the man!!!
#3Author of original report
Thu, November 20, 2014
Paul got a hold of me this morning and I go get my new car this today! If you have a problem with any of the storys Paul can help you!!! :-) vig Thank You to Paul!!!!
FloridaNative
Palm Beach Gardens,Florida,
Remedy
#3Consumer Comment
Thu, November 20, 2014
Dana, you made a huge mistake on the purchase. I am sure you know that by now but the sales rep took advantage of your lack of knowledge. There were some red flags on the deal you made in February 2014, the largest one being the sales rep going to the bank to point out the upgrades!
Next time the sales rep wants to go to the bank with you - step away from the deal without signing. Take a careful look at the valuations and don't sign anything without independant verification of the valuation (at least KBB and/or NADA). It is very apparent that you did not negotiate with the dealership in an effective manner.
Check your contract, I bet you see the phrase "AS IS". That means you are stuck with the deal you made in writing with the dealership and with your lender. The lender gets paid the full amount of the loan because all they did was provide the funds to you - they didn't participate in selling you the vehicle (unless the lender has an affliation with the dealership).
The seller is under no obligation to make it right for you. That's why the sales rep pushed so hard to get the deal done, he didn't want you to have time to reconsider the purchase price. You are upside down in your purchase (usually) for one or a combination of all of these reasons:
So now you are in a pickle. This is how to get out of it:
First, educate yourself on the actual value of your vehicle as it is right now. You will want an independant evaluation based on its current condition. Use the NADA and KBB valuations for general knowledge. There are 3 values for each vehicle: retail, trade and private party. Do NOT get your valuation from the dealer that sold it to you - they will take you to the cleaners again.
Second, if you can sell the vehicle private party, then do so. Sell it yourself. You may need help from someone that has knowledge in this area so you don't get taken again. You probably will have to bring additional funds to the deal when you sell in order to deliver clear title. How much will you have to bring? It depends upon what you sell it for and how upside you are on the vehicle now.
DO NOT TRADE THE VEHICLE. That is the way you will get hurt the most. Trade in value is your lowest value.
I know this is a pain in the backside to do it this way, but you will save thousands of dollars plus learn a valuable lesson on any new purchase you make. Don't add the negative equity to the new purchase or you will be in a worse spot - that is why I said to stay away from a trade.
For your next vehicle - either bring someone that really knows what they are doing or take the time to educate yourself first so you won't fall into the same trap.