Public Roundtables: Protecting Consumers in the Sale and Leasing of Motor Vehicles, Project No. P104811
I had never purchased a car from any kind of dealer until I went to the Used car motor mall in Grand Rapids Michigan. Kip (an alias I am sure)found me a Chevrolet blazer with 2002 with just 13k mileage for only 13,000. Also he promised me a grand for my trade in. I Told him I couldn't pay more than 300 a mth. payments. He called me insistently for days wanting to know If I had found a co-signer. Finally I went with my cosigner to do the paperwook for the blazer. Well when it came down to it. The blazer (identical to the one with 13k mileage) had 35k mileage and it was 14 grand. I balked. We were in that place for 5 hours trying to get the paperwork done. The first papers he brought me to sign said 14,300 for the car. A 500 dollar charge for special insurance because the car was sold for way more than it was worth in the event that it was totaled so that the loan could be paid off.And they only gave 800 for my trade and insisted on a 200 cash payment as well. They redid the papers three times and when I still wasn't happy with them I was told I could change my mind later if my conditions were not met. When asked what the interest rate would be they couldn't tell me. Finally they wore me down and I signed the papers just to get out of there. When I read all of the contract I found the interest rate was 17%. There had to have been a mistake made that wasn't possible. I returned to the dealer and said this will not do.I asked to return the car and have mine returned and they said sorry you already signed. I was going to have to pay 349.00 a mth for over 5 years. In total I paid 21 thousand dollars for a 13,000 car!!! The battery was too small for the car. They had hidden bleach stains in the cargo area by putting floor mats over them so you didn't notice. Something needs to be done about places such as this. I know I am not the only one they took advantage of!!