amoalflaco
New Member
I was suppose to buy a 2009 nissan maxima for $33,700 but instead I ended up buying it for $38,195. I agreed to receive $8,000 for my trade-in(camry) for which I still had a balance due of $4,850.97. This leaves me with $3,149.03 for downpayment. I don't know how I didn't realize that they added $4,495.98 to the price of the maxima without crediting me for the $8,000 I was supposed to get for my trade-in. It is kind of difficult to understand at first, but once you see the numbers it is clear that they not only didn't give the $8,000 for my trade-in, as they promised, but I paid part of the balance due on it. This is how they did it:
$38,195.98 + ----price of car including what I still owed for the trade-in
$ 7,128.25 -----gap ins, registration, taxes, inspection, extended warranty
=$45,324.20 -----total
-$3,249.03 -----downpayment + 100 cash
=$42,075.20 -----total financed
If they added the amount to be paid to the other bank for the camry to the price of the maxima (that was their first excuse) they should of reduced the total by $8,000 not by $3,249.03 as they did. This means that they only gave me $3,504.02(3,149.03+(4,850.97-4,495.98)) for the camry when the balance still owe was $4,850.97. We can say that "the difference came out of my pocket" and in reality there was no downpayment except for the $100 I gave cash. The calculation should of been as follows:
$33,700 ----price of maxima
$ 7,128.25 ----gap ins, registration, taxes, inspection, extended warranty
=40,828.30 ----total
-$3,249.03 ----downpayment
=$37,579.27 ----total amount to be finance
I went back to the dealership to get some answers and as I said before their first excuse was that the price included the pay-off amount for the camry. However, once the agent realized that I was not falling for it he told me that $1,800 out of the $4,495.98 was a bank fee I had to pay to get the loan, which is not true because I called the bank and the excuse for the rest of the money was even more irrational.
It is the dumbest thing I ever done, I don't know how I let this happen, perhaps it was the excitement of getting a new car that unable me to see clearly. I hope some one can tell me if there is anything else I can do because for me $4,495.93 (plus the interest I,m paying for it) are a big deal.
Thank you!
$38,195.98 + ----price of car including what I still owed for the trade-in
$ 7,128.25 -----gap ins, registration, taxes, inspection, extended warranty
=$45,324.20 -----total
-$3,249.03 -----downpayment + 100 cash
=$42,075.20 -----total financed
If they added the amount to be paid to the other bank for the camry to the price of the maxima (that was their first excuse) they should of reduced the total by $8,000 not by $3,249.03 as they did. This means that they only gave me $3,504.02(3,149.03+(4,850.97-4,495.98)) for the camry when the balance still owe was $4,850.97. We can say that "the difference came out of my pocket" and in reality there was no downpayment except for the $100 I gave cash. The calculation should of been as follows:
$33,700 ----price of maxima
$ 7,128.25 ----gap ins, registration, taxes, inspection, extended warranty
=40,828.30 ----total
-$3,249.03 ----downpayment
=$37,579.27 ----total amount to be finance
I went back to the dealership to get some answers and as I said before their first excuse was that the price included the pay-off amount for the camry. However, once the agent realized that I was not falling for it he told me that $1,800 out of the $4,495.98 was a bank fee I had to pay to get the loan, which is not true because I called the bank and the excuse for the rest of the money was even more irrational.
It is the dumbest thing I ever done, I don't know how I let this happen, perhaps it was the excitement of getting a new car that unable me to see clearly. I hope some one can tell me if there is anything else I can do because for me $4,495.93 (plus the interest I,m paying for it) are a big deal.
Thank you!
