Advice on this offer!!

LakeShow · 09-25-2011, 06:00 PM

So I went to the dealership and got scammed. Agreed price was 34,000. They kept throwing me stupid interest rates like 5%. I told then I have a 2.64 at bank of America and they kept saying you must finance this through us. These crooks gave me a low payment for 60 months then I came back to officially sign the papers and they secretly changed the term to 72 months and didn't notice till half way into signing. Saw the price and they were having me paying 49,000 for a Nissan Z. You got to be kidding me. They threatened to not give back title to trade in as I signed but fought with them got my car back but held my 500 deposit for ransom. I will now have to get that back. Cannot believe this. They even put my plates on the Z. Im so disappointed and I have bought Nissan products before.

victort · 09-26-2011, 02:40 AM

Quote:

Originally Posted by LakeShow

So I went to the dealership and got scammed. Agreed price was 34,000. They kept throwing me stupid interest rates like 5%. I told then I have a 2.64 at bank of America and they kept saying you must finance this through us. These crooks gave me a low payment for 60 months then I came back to officially sign the papers and they secretly changed the term to 72 months and didn't notice till half way into signing. Saw the price and they were having me paying 49,000 for a Nissan Z. You got to be kidding me. They threatened to not give back title to trade in as I signed but fought with them got my car back but held my 500 deposit for ransom. I will now have to get that back. Cannot believe this. They even put my plates on the Z. Im so disappointed and I have bought Nissan products before.

depending on how much you were financing, the 49,000 may sound right if that included the 6,500 trade-in (as a down payment) and you financed the rest of the 34,000 at 5% interest for 72 months.

Zaggeron · 09-26-2011, 07:29 AM

Quote:

Originally Posted by victort

depending on how much you were financing, the 49,000 may sound right if that included the 6,500 trade-in (as a down payment) and you financed the rest of the 34,000 at 5% interest for 72 months.

The total financed amount was to be 34K. With that much being financed the difference in cost between something like 3% @60 months and 5% @72 months is quite significant. He was expecting the former and not the latter.

scottIN · 09-26-2011, 08:28 AM

That's bizarre. Last two cars I bought I drove off the lot with no financing in place-just a purchase agreement. Both times were after 5 PM and we just agreed to work out the financing later. Ended up paying cash for one and financed the other through my local bank the next day. The last one was funny because about 3 days after I bought it, the dealership called and wanted to know how I was going to pay for it - my local bank had done all the paperwork but submitted it to the wrong dealership. Took about a week to get it all straight.

LakeShow · 09-26-2011, 10:03 AM

Quote:

Originally Posted by scottIN

That's bizarre. Last two cars I bought I drove off the lot with no financing in place-just a purchase agreement. Both times were after 5 PM and we just agreed to work out the financing later. Ended up paying cash for one and financed the other through my local bank the next day. The last one was funny because about 3 days after I bought it, the dealership called and wanted to know how I was going to pay for it - my local bank had done all the paperwork but submitted it to the wrong dealership. Took about a week to get it all straight.

Thats a really cool dealer. Let you take the car without paying for it for a few days.

scottIN · 09-26-2011, 01:47 PM

Quote:

Originally Posted by LakeShow

Thats a really cool dealer. Let you take the car without paying for it for a few days.

Your dealer sounds like a real pain. I agree with others - look elsewhere. I'm in sales myself and I do everything I can to make it easy for my clients to do business with me - which is exactly what the dealers did for me on my last two purchases. Too many choices out there to have to deal with jerks. Where I ordered mine from tried to get a high deposit on me and once I explained to them that wasn't going to happen, all the BS stopped. If it hadn't, I would have moved on.

Have a buddy that just bought a Durango and when he went for a test drive dealer told him to take it home for a couple of nights and see if he liked it. Two days later, he bought it. Maybe it's different here, but dealers do stuff like that all the time.

LakeShow · 09-26-2011, 08:29 PM

Quote:

Originally Posted by scottIN

Your dealer sounds like a real pain. I agree with others - look elsewhere. I'm in sales myself and I do everything I can to make it easy for my clients to do business with me - which is exactly what the dealers did for me on my last two purchases. Too many choices out there to have to deal with jerks. Where I ordered mine from tried to get a high deposit on me and once I explained to them that wasn't going to happen, all the BS stopped. If it hadn't, I would have moved on.

Have a buddy that just bought a Durango and when he went for a test drive dealer told him to take it home for a couple of nights and see if he liked it. Two days later, he bought it. Maybe it's different here, but dealers do stuff like that all the time.

Thats how dealers should be ran. Over here everyone is trying to make a quick buck from anything possible. They think people are stupid and will just roll over. You just have to have your eyes open. Some customer in the dealer randomly came up to me and told MW how he was going to report this place when he leaves. Not just me.

LakeShow · 09-26-2011, 09:55 AM

Quote:

Originally Posted by Zaggeron

The total financed amount was to be 34K. With that much being financed the difference in cost between something like 3% @60 months and 5% @72 months is quite significant. He was expecting the former and not the latter.

Basically the point is they would not let me have it any other way. It's 5% or no deal. Also they changed the term as I went back to the finance office 60-72Months

Zaggeron · 09-26-2011, 02:46 PM

Quote:

Originally Posted by LakeShow

Basically the point is they would not let me have it any other way. It's 5% or no deal. Also they changed the term as I went back to the finance office 60-72Months

Sounds like the $37,700 was not the "real" price of the car. They were expecting built in extra cash from the financing deal.

Hope you get your deposit back.

LakeShow · 09-26-2011, 08:34 PM

Quote:

Originally Posted by Zaggeron

Sounds like the $37,700 was not the "real" price of the car. They were expecting built in extra cash from the financing deal.

Hope you get your deposit back.

So I went again and I ended up getting 400$ out of 500$. The manager try tp reason with me and wrote me a deal 1.99% and signed it and said I'll keep 100$ to save you the car. I just was like ok before I go any further and he gives me no money. I'll bite the 100$.
By the way how much should I be paying a month for a Z like this? 599$ for 60 months is what I was quoted with the 6500$ trade in. Is that high? How much is it no money down for a Z like this?

Zaggeron · 09-26-2011, 08:45 PM

Quote:

Originally Posted by LakeShow

So I went again and I ended up getting 400$ out of 500$. The manager try tp reason with me and wrote me a deal 1.99% and signed it and said I'll keep 100$ to save you the car. I just was like ok before I go any further and he gives me no money. I'll bite the 100$.
By the way how much should I be paying a month for a Z like this? 599$ for 60 months is what I was quoted with the 6500$ trade in. Is that high? How much is it no money down for a Z like this?

There are plenty of loan calculators around. Don't think in terms of money per month when negotiating.

Like I mentioned earlier. You have three negotiations:

1. Price
2. Trade-in
3. Interest rate/Terms

If you got got them to go down to 1.99%, then it looks like a good deal on price and interest rates. The calculator I looked at showed $595.80 for 1.99%@60 months for a 34K loan.

Remember the more money down the more you save. With the loan terms above, you are paying about 2k in interest over the course of the loan. If instead the loan was for 24k, you'd only be paying around $1200 in interest

victort · 09-26-2011, 10:08 PM

Quote:

Originally Posted by LakeShow

So I went again and I ended up getting 400$ out of 500$. The manager try tp reason with me and wrote me a deal 1.99% and signed it and said I'll keep 100$ to save you the car. I just was like ok before I go any further and he gives me no money. I'll bite the 100$.
By the way how much should I be paying a month for a Z like this? 599$ for 60 months is what I was quoted with the 6500$ trade in. Is that high? How much is it no money down for a Z like this?

so $599 x 60 = 35940 + 6500 = 42440
that's the price youre paying after interest.

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09-25-2011, 06:00 PM	#1 (permalink)
LakeShow A True Z Fanatic Join Date: Dec 2010 Location: L.I., NY Posts: 5,307 Drives: Everything Rep Power: 27	So I went to the dealership and got scammed. Agreed price was 34,000. They kept throwing me stupid interest rates like 5%. I told then I have a 2.64 at bank of America and they kept saying you must finance this through us. These crooks gave me a low payment for 60 months then I came back to officially sign the papers and they secretly changed the term to 72 months and didn't notice till half way into signing. Saw the price and they were having me paying 49,000 for a Nissan Z. You got to be kidding me. They threatened to not give back title to trade in as I signed but fought with them got my car back but held my 500 deposit for ransom. I will now have to get that back. Cannot believe this. They even put my plates on the Z. Im so disappointed and I have bought Nissan products before.

09-26-2011, 08:28 AM	#4 (permalink)
scottIN Track Member Join Date: Aug 2011 Location: New Castle, Indiana Posts: 764 Drives: '12 370Z Rep Power: 56	That's bizarre. Last two cars I bought I drove off the lot with no financing in place-just a purchase agreement. Both times were after 5 PM and we just agreed to work out the financing later. Ended up paying cash for one and financed the other through my local bank the next day. The last one was funny because about 3 days after I bought it, the dealership called and wanted to know how I was going to pay for it - my local bank had done all the paperwork but submitted it to the wrong dealership. Took about a week to get it all straight.