James MK
La Jolla,#2Consumer Comment
Fri, January 06, 2012
The $3000 trade they offered was for a paid-off van not one you still have a huge balance on. As for what the van is worth, blue book figures are for a vehicle in perfect condition and concerns a sale between individuals not a dealership trade-in. In this case $3000 is par for the course.
Batman
Massachusetts,#3Consumer Suggestion
Sun, December 11, 2011
First, I have no idea whether this is an actual rip off. It doesn't sound like one but I'm not here to argue.
The real issue here is WHY are you trying to buy a car given your situation? If you're so upside down in the loan on the van AND your credit is poor enough that financing is an issue, then you shouldn't be looking for a new car.
I think before you make your next major purchase you should seriously consider taking the time to educate yourself about loans and financing. Between the internet, library, or even local adult education courses, you can learn tons about how finance works. Taking the time to understand this stuff will definitely save you thousands over your lifetime and could even be the difference between prosperity and poverty.
Frankly, not getting that car loan may be the best thing that ever happened to your wallet! I would've been more pissed if they were so mean as to actually let you use a vehicle with an upside down loan on it as a trade-in and drive away in a new car.