- Report: #1462739
Complaint Review: Keystone Chevrolet - Sand Springs Oklahoma
Reported By:
Mandi Weems -
KELLYVILLE, Oklahoma, United States
Submitted:
Updated:
-
Author Not Confirmed
Why?
Keystone Chevrolet
8700 Charles Page Blvd Sand Springs, 74063 Oklahoma, United States
Phone:
918-245-2201
Web:
https://www.keystonechevrolet.com/
Categories:
Business Rating:
(0)
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Keystone Chevrolet Car dealer attempted to charge $37,000-38,000 for a $17,700 vehicle to a disabled veteran and ran veteran's credit 13 times to prevent them from shopping around Sand Springs Oklahoma
We went in to look at some of the trucks since Chevy has a lot of deals right now. The only reason we are even considering buying a new car is for the warranty as my husband is a disabled veteran and about to have another neck surgery, so we don't want to be worried about a vehicle needing worked on at all. All of our current vehicles are paid off completely. After being shown several new trucks (which is what we went in to look at), we were then told to wait a bit until they could try to get us financed. We were called later that afternoon and told they had gotten us financed with about $3k down and to come on up. We drove the 30 minutes to the dealership only to be told that the salesman told us wrong and that they hadn't gotten us financed yet. The next day, we got an answer back that they could get us financed, but "not at a payment that they would sell it to us at". The salesman claimed that the payment was so high that he just couldn't sell it to us, but never told us the payment amount or what we had been financed for. Instead, we were directed to the used cars. We looked through their used cars online and found a couple that we liked that were still under warranties. When we asked about them, we were told they'd check on financing - again, we were never told what they had us approved for.
The following day (this is day 3), we were told that they couldn't get us financed for either of the cars that we liked but they did get us financed on a new trade in they had, a GMC Terrain - which is a car model we'd considered. This particular car had pretty much everything we wanted except a warranty and had a bit higher miles than what we were really wanting. The 'manager' we had been dealing with had told us the price was $17,700 and that it had not been detailed yet and that there was just some 'minor' damage to the car that they would fix. However, we went to look at it and see if we could finally find out what we'd been financed for. When we got there, we were shown a 2016 GMC Terrain that had a cracked windshield, had damage to the front quarter panel and the front bumper, and had the hydraulics out on the back hatch.
So, immediately it would have to be in the shop if we bought it. Plus, it had never even been checked by their mechanics for safety issues or problems. They ushered us into the office and then a 'manager' that we'd never met came in and told us that the payments we'd been approved at were $544-555 at 21% interest for 69 months - do the math on this, that's $37,536-$38,295 for an almost 3 year old car AND less than the price of the new trucks we had been looking at. This is also with us putting down $2000 and trading in a paid off car that Kelly Blue Book values for trade in at $4500-5500. We told them that was way too high and there was no way and got up to walk out. The 'manager' went back with his sheet and then came back. He started to show us where the price of this 2016 GMC Terrain was now $23,600-ish and tried to tell us that "this is what the bank makes us charge", saying this was all bank fees on up to the $37-38K. When we pointed out we were told the vehicle was $17,700, he told us he had no idea where the other guy had gotten that number. (They have an identical vehicle on the lot with less miles and no damage for $19,900 that's listed on their website.)
At this point, we got up and walked out. I have never been treated like I was this stupid in my life. Our credit has been run over 13 times each (for both my husband and I), sometimes multiple times for the same place. So, now our scores have dropped over this 3+ day period and we now worry about trying to go anywhere else because of what they have done with running our credit. We were never told who they got us financed through or the amount that we were approved for. They need to be checked out and hopefully stopped before they continue these practices.
3 Updates & Rebuttals
Florida Native
West Palm Beach,Florida,
United States
You did the right thing by walking away
#2Consumer Comment
Sat, September 29, 2018
If more consumers did what you did (walk away) when the dealer tries to pull a fast one, the dealers would stop that nonsense.
The statement he made about the bank making them charge that amount is complete baloney. The lender will loan on the actual value of the vehicle, not the trumped up value the dealership was trying to get out of you.
Robert, the first rebuttal, is right. Go to a credit union or bank directly to get a pre-approval so when you shop for a vehicle you already know your terms and payment and the amount you can pay for the vehicle. This makes you a cash buyer at the dealership and they won't be able to pull that scam on you. Fortunately you didn't fall for it.
Mandi
KELLYVILLE,Oklahoma,
United States
"This is what the bank makes us charge"
#3Author of original report
Fri, September 28, 2018
Hi Robert,
Thanks for your comment. We checked our credit before we went in and, while I don't really want to post scores here, it wasn't in the range where we would only get a 21% interest rate. Not excellent but absolutely not poor either. We were basically told 'this is what the bank makes us charge' when we asked about it. Any question we asked about payments, overall financing, etc, were met with that rebuttal.
Robert
Irvine,California,
United States
21 Percent?
#4Consumer Comment
Fri, September 28, 2018
So what was your score before you had your credit run, and the $64,000 question..are you comparing your score each time using the exact same method. Because from what you posted there are a few things.
First to be offered an interest rate of 21% that would mean your credit would be considered "High Risk", probably Sub-600. Inquiries make up a small portion of your credit score, about 10% with most models. Meaning inquiries only usually affect you if you are a borderline score(such as between fair and good), they are not going to take you from excellent to poor.
As for the inquiries, finance companies and banks expect some sort of "rate shopping" as they know you aren't going to get 13 car loans. So yes you take a hit for 1 inquiry, but you don't get additional "hits" because they did additional inquiries. If I could suggest one thing, look at your local banks/credit unions to look for a loan. They will give you what you are approved up to as well as the Interest and payment terms. You can then walk into a dealer knowing exactly what you can spend. Not only that but in many cases the local banks can beat the dealers terms.
But with all of this said. You did the right thing, you got up and walked out.
