So we went to look at a car last night and we found at 2000 mustang for $9988 (blue book price $11000). We decided that we liked, but the first loan they offered us had an APR of 20% - after talking more and more we finally got on of 3.9% (big difference, huh?)
Anyway, so I guess I knew there would be state charges, taxes and fees. But then they told us that the warentee was included, but it turned out to be an extra $1000 (this covers 75k miles, bumper to bumper). I guess thats ok because it would be more money to pay for a mechanic if something big goes wrong.
Then after being there for 5 hours, she said and what about GAP and LoJack? It onl $10 a month. I was so tired, I said wahtever and FI said fine. So we sign everything (like idiots) and I look at the paper and the final price of the car came out to $14000!!!
Thats a BIG difference. Is it this normal?
Of course at the point we had signed everything and there is no 'cool off' period to chnage your mind. But we were there from 6pm til 1130 and I was feeling so sick. Now, I think we were had and we are idiots. I hardly slept last night....
So, wat I ripped off? Or are those fees normal (I hope so)
Also, does anyone hae Lojack?? Think we can cancel that $1800 service TODAY?
prncssrachel
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Re: Did we get ripped off?
From a fellow mustang owner, I will tell you that's EXACTLY what happened to me when I went to buy mine. EXACTLY. And I got mine quite a few years ago. When all is said and done, I LOVE my car so much, I don't even care. And two months after I bought it, the engine blew and then the transmission and then the heating and cooling system, so that warranty, TOTALLY paid off. (And um, can we say, WHAT A LIE that a granny drove it before I bought it? What car with only 40K miles needs all that work unless you drive like a maniac?) I would just enjoy your new car and since there's nothing you can do about it, learn from the experience. I know I did
MrsBrad
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Re: Did we get ripped off?
Posted by 121502
From a fellow mustang owner, I will tell you that's EXACTLY what happened to me when I went to buy mine. EXACTLY. And I got mine quite a few years ago. When all is said and done, I LOVE my car so much, I don't even care. And two months after I bought it, the engine blew and then the transmission and then the heating and cooling system, so that warranty, TOTALLY paid off. (And um, can we say, WHAT A LIE that a granny drove it before I bought it? What car with only 40K miles needs all that work unless you drive like a maniac?) I would just enjoy your new car and since there's nothing you can do about it, learn from the experience. I know I did
Thanks for the comforting words! I did FH will really ending up loving it in the end
LIJuneBride
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Re: Did we get ripped off?
I think technically you have three business days to cancel any transaction. Unless you leased the vehicle, you don't usually buy GAP insurance (in a case where your car was stolen or totalled due to damage, this insurance would cover any difference in what you owe on the car and what it's worth). Lojack is expensive but in the case of a theft, it should help the police locate your vehicle quickly. The warranty on a used car is usually a good idea if you can afford it, since you don't know how it was driven previously or if there were any problems. If you paid for things you don't really want, I think you should go back to the dealer and tell them you changed your mind about the Lojack and GAP or whatever, and tell them you want it deducted. If they won't do that, tell them you'll complain to the BBB and that you want your money back.
dm24angel
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Re: Did we get ripped off?
Two things that should be comforting...the GAP insurance(which is what I think your talking about) is good...we had a house fire about 6 yrs ago and my mom lost her car, she had Gap insurance( but they lost the papers at the dealer so keep those papers in a locked box!!) The difference in the car was over $3000 so the insurance comes in handy god forbid something happens...
Then about 8 years ago, me and a friend had her car stolen at a gas station( at gun point)...she had lojack and they found her car within 2 hrs and she's still driving it today!
I think in the end your deal was not so bad...
My car was estimated at about $9000 TOPS ( a 98 Pontiac gran prix GT) ...after 3 years i will be paying it off at about $14,000...so it happens to us all!!!
Enjoy the car!
MrsBrad
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Re: Did we get ripped off?
Posted by LIJuneBride
I think technically you have three business days to cancel any transaction.
Not in California, thats why I was annoyed. There are tons of signs in all dealships that state 'There is no cooling off period' once you drive off the lot, the car is yours. Stupid california.
dm24angel
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Re: Did we get ripped off?
Dont worry, I truly think your deal was ok....I know someone said you dont need gap but hey look what happened to my mom and friend with the lojack....Dont second guess yourself, I did that when I bought my car and I love it now that I stopped worrying! It will be paid off in 2 years and still in great condition.....Keep that car working and running in top condition and you will in the end make money if your careful!
Maribelle7777
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Re: Did we get ripped off?
Posted by dm24angel
Two things that should be comforting...the GAP insurance(which is what I think your talking about) is good...we had a house fire about 6 yrs ago and my mom lost her car, she had Gap insurance( but they lost the papers at the dealer so keep those papers in a locked box!!) The difference in the car was over $3000 so the insurance comes in handy god forbid something happens...
Enjoy the car!
I agree. My firend had a bad accident with her SUV during the winter and it wasn't paid off....she had wanted to get rid of it anyway (just not that way!) and with the GAP insurance she didn't have to pay off the rest of the car. She got a grand prix instead.
GAP insurance is totally worth it.
antoinette
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Re: Did we get ripped off?
the same thing happened to u s not too long ago exept we didnt relize it till we got our financing statement in the mail and it was too late. we fought with the dealership and it was very ugly and in the long run we winded up paying much more for the car than we had originally anticipated it was a horrible ordeal, used car salesmen are the ultimate worst. If you dont read every single fine print you are very likely to have some surprises. We were at the dealership for so long that I was just signing away and I apparently missed the part where a feature was added on to the car that cost 2k and I had never agreed too It was a big mess. Life lesson learned for sure next time we wont be taken advantage of.
Danielle&Scott
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Re: Did we get ripped off?
Is this a 6 cyl? You can get a new 2004 6 cyl mustang for $16,000. I would try to get my money back if I was you...I don't want to upset you, but I think you got ripped off.
What dealer was this at?
Icey
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Re: Did we get ripped off?
You purchased the car right? and not leased it.Just double check the final price of what you paidit is usually the min,payment each month.With any car or truck the final total is always crazy looking .If you can send extra money with each payment (every bit counts) and its that much less your paying interest on.Good luck!
ChristineC68
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Re: Did we get ripped off?
Posted by Danielle&Scott
Is this a 6 cyl? You can get a new 2004 6 cyl mustang for $16,000. I would try to get my money back if I was you...I don't want to upset you, but I think you got ripped off.
What dealer was this at?
Well, considering she stated several times this isn't an option, this is worse then saying nothing.
~~~~~~~~~~~ Is the $14,000 the grand total of all the car payments including the interest?
If so, then I agree with Icey, make some extra payments as you go along you'll end up saving a little at the end. Just ask the financing company how to submit the payments so that extra amounts paid gets applied to the cost of the car and not the interest.
Danielle&Scott
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Re: Did we get ripped off?
Posted by ChristineC68
Posted by Danielle&Scott
Is this a 6 cyl? You can get a new 2004 6 cyl mustang for $16,000. I would try to get my money back if I was you...I don't want to upset you, but I think you got ripped off.
What dealer was this at?
Well, considering she stated several times this isn't an option, this is worse then saying nothing.
Sorry but I think she can get her deposit back...as long as she only left a deposit. I think it is illegal for the dealership to not give you the deposit back. I would look into this. I am not trying to be mean....and I know how it is with car dealers, and salesman. I used to work for 2 dealers and I have seen lots of stuff. LoJack usually costs around $1500. plus at a dealer. It is good a good investment.
~~~~~~~~~~~ Is the $14,000 the grand total of all the car payments including the interest?
If so, then I agree with Icey, make some extra payments as you go along you'll end up saving a little at the end. Just ask the financing company how to submit the payments so that extra amounts paid gets applied to the cost of the car and not the interest.
ChristineC68
Posted:
Member since
Re: Did we get ripped off?
Posted by Danielle&Scott
Posted by ChristineC68
Posted by Danielle&Scott
Is this a 6 cyl? You can get a new 2004 6 cyl mustang for $16,000. I would try to get my money back if I was you...I don't want to upset you, but I think you got ripped off.
What dealer was this at?
Well, considering she stated several times this isn't an option, this is worse then saying nothing.
Sorry but I think she can get her deposit back...as long as she only left a deposit. I think it is illegal for the dealership to not give you the deposit back. I would look into this. I am not trying to be mean....and I know how it is with car dealers, and salesman. I used to work for 2 dealers and I have seen lots of stuff. LoJack usually costs around $1500. plus at a dealer. It is good a good investment.
She is California, not NY, and stated that there are signs everywhere that you cannot change your mind and that there is no cooling off period - once you drive off the lot, the car is yours - period.
Kriss2c
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Member since
Re: Did we get ripped off?
All those add ons are just industry standard.... trust me as another Ford owner you are better off having the extended warranty. The LoJack is fine, you'll actually get a discount on your insurance for having it.
I think you did fine.... probably could have negotiated a slightly lower price; but in the end it would have come close the same anyway.... the big part was the interest rate and you got that down to something much more reasonable.
Congrats on the new to you ride.
Danielle&Scott
Posted:
Member since
Re: Did we get ripped off?
I don't see it written anywhere that she took ownership of the car yet. I am assuming that she just signed the papers and the car still needs to be service.....I.E. Inspected, and Detailed.
