It’s one thing to buy a new car and get ripped off. You end up paying the sticker price or above because you don’t know what you’re doing, the dealership is aware of it and takes advantage of you. I know this happens. It happens often and many times every month. It’s how some dealers justify taking short deals or even losing a little bit on some cars to make their quota.
One of my customers’ father got severely ripped off and brought this to my attention. It’s a disgrace.
He was charged more than $4,000 over MSRP –
He was put into an 84 month loan costing him $19,597 in interest –
He was told he was getting a new car and it turned out to be a demo with 720 miles on it –
He was charged $4,995 for an extended warranty –
He was charged $2,795 for 3 years pre-paid maintenance which makes no sense because Toyota offers the first 2 years for free with Toyota Care.
He was charged $1,000 for Lojack & $1,000 for a remote starter. This sale took place 2 months ago and neither of these accessories have even been installed.
This all happened with high pressured selling and what dealers like to call a “Spot Delivery”. A spot delivery is when you sign a customer up and have him drive out with the car all in one day. Dealers usually try to do this when they have an absurd amount of profit in a deal. They get the car booked and sold with the customer having no time to shop the price and see how badly they are being ripped off. This just goes to show you, you should never purchase a car with out shopping around first or sleeping on it for at least 24 hours. Especially when you’re not familiar with the process.