Help Pls before it's too late

[Anonymous]

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@pip3man wrote:

So yesterday I financed my first vehicle through NMAC. Got an interest rate of 4.5% thru NMAC and my TU FICO came back as 602. This is a new 2014 fully loaded Nissan Sentra SL. The sticker price on the car was $22,905, put a down payment of $1500 plus cash rebate from Nissan totalling $1500. Now im looking over the contract and it says my total amount financed is $27,555.20. Something don't seem right... How did it come up to this?? I know I did accept GAP coverage so what's wrong here, someone help me out cos I'm ready to return this car by Monday if there's something shady really going on. Here's a snapshot of the retail contract [IMG]http://i62.tinypic.com/9scu3a.jpg[/IMG]

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If it was me, I'll go back to the dealership and tell them what you did not acknowledge and what you want them to take off. If that doesn't work, I'll return the car. Most states allow a small grace period for you to return the car back to the dealership. Make sure to bring someone with you too, its safety in numbers.

You can also go to this post

[Anonymous]

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@Anonymous wrote:

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@pip3man wrote:

So yesterday I financed my first vehicle through NMAC. Got an interest rate of 4.5% thru NMAC and my TU FICO came back as 602. This is a new 2014 fully loaded Nissan Sentra SL. The sticker price on the car was $22,905, put a down payment of $1500 plus cash rebate from Nissan totalling $1500. Now im looking over the contract and it says my total amount financed is $27,555.20. Something don't seem right... How did it come up to this?? I know I did accept GAP coverage so what's wrong here, someone help me out cos I'm ready to return this car by Monday if there's something shady really going on. Here's a snapshot of the retail contract [IMG]http://i62.tinypic.com/9scu3a.jpg[/IMG]

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If it was me, I'll go back to the dealership and tell them what you did not acknowledge and what you want them to take off. If that doesn't work, I'll return the car. Most states allow a small grace period for you to return the car back to the dealership.Make sure to bring someone with you too, its safety in numbers.

You can also go to this post

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Intellis, don't mean to be rude but that just not true. It's a big myth that people are allowed 3 days to return cars.  The 3 day of rescission applies in very limited circumstances and invoives contracts where the sale takes place in your home or some place that is not the seller's normal place of business.  It does not apply to vehicle sales where the buyer goes to a dealership.  As for him going to the post you link he's not going to find any better information there.  The OP of that thread stopped replying a month ago.  I spent 17 years in auto sales management positions so I have a bit of knowledge on the topic.

http://www.consumer.ftc.gov/articles/0176-protections-home-purchases-cooling-rule

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@pip3man wrote:

So yesterday I financed my first vehicle through NMAC. Got an interest rate of 4.5% thru NMAC and my TU FICO came back as 602. This is a new 2014 fully loaded Nissan Sentra SL. The sticker price on the car was $22,905, put a down payment of $1500 plus cash rebate from Nissan totalling $1500. Now im looking over the contract and it says my total amount financed is $27,555.20. Something don't seem right... How did it come up to this?? I know I did accept GAP coverage so what's wrong here, someone help me out cos I'm ready to return this car by Monday if there's something shady really going on. Here's a snapshot of the retail contract [IMG]http://i62.tinypic.com/9scu3a.jpg[/IMG]

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If it was me, I'll go back to the dealership and tell them what you did not acknowledge and what you want them to take off. If that doesn't work, I'll return the car. Most states allow a small grace period for you to return the car back to the dealership.Make sure to bring someone with you too, its safety in numbers.

You can also go to this post

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Intellis, don't mean to be rude but that just not true. It's a big myth that people are allowed 3 days to return cars.  The 3 day of rescission applies in very limited circumstances and invoives contracts where the sale takes place in your home or some place that is not the seller's normal place of business.  It does not apply to vehicle sales where the buyer goes to a dealership.  As for him going to the post you link he's not going to find any better information there.  The OP of that thread stopped replying a month ago.  I spent 17 years in auto sales management positions so I have a bit of knowledge on the topic.

http://www.consumer.ftc.gov/articles/0176-protections-home-purchases-cooling-rule

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Thanks for correcting me, it's been 5 years since I brought my last car. I guessed alot has changed since then. I'll make sure to pick your brains this summer when I begin looking for my new car lol.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@pip3man wrote:

So yesterday I financed my first vehicle through NMAC. Got an interest rate of 4.5% thru NMAC and my TU FICO came back as 602. This is a new 2014 fully loaded Nissan Sentra SL. The sticker price on the car was $22,905, put a down payment of $1500 plus cash rebate from Nissan totalling $1500. Now im looking over the contract and it says my total amount financed is $27,555.20. Something don't seem right... How did it come up to this?? I know I did accept GAP coverage so what's wrong here, someone help me out cos I'm ready to return this car by Monday if there's something shady really going on. Here's a snapshot of the retail contract [IMG]http://i62.tinypic.com/9scu3a.jpg[/IMG]

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If it was me, I'll go back to the dealership and tell them what you did not acknowledge and what you want them to take off. If that doesn't work, I'll return the car. Most states allow a small grace period for you to return the car back to the dealership.Make sure to bring someone with you too, its safety in numbers.

You can also go to this post

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Intellis, don't mean to be rude but that just not true. It's a big myth that people are allowed 3 days to return cars.  The 3 day of rescission applies in very limited circumstances and invoives contracts where the sale takes place in your home or some place that is not the seller's normal place of business.  It does not apply to vehicle sales where the buyer goes to a dealership.  As for him going to the post you link he's not going to find any better information there.  The OP of that thread stopped replying a month ago.  I spent 17 years in auto sales management positions so I have a bit of knowledge on the topic.

http://www.consumer.ftc.gov/articles/0176-protections-home-purchases-cooling-rule

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Thanks for correcting me, it's been 5 years since I brought my last car. I guessed alot has changed since then. I'll make sure to pick your brains this summer when I begin looking for my new car lol.

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No problem.  Be glad to help.  Car buying can be a nightmare as the OP found out but there are dealerships and salespersons out there that won't rip you off.  It's important not only to do research on the vehicle that you are interested but in the dealership as well.

[way2evil]

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@Anonymous wrote:

Couple things.  Should never have purchased the gap insurance nor paid $3000 for a service contract.  While service contracts can be worthwhile they never should cost that much.  What I'm more concerned about Is Line 1. Even with taxes of nearly 2000 how did they get from $22,905 to 26063.70?  Do you have a copy of the purchase order?  Overall they took advantage of your inexperience as no Sentra should cost you that much. Didn't they give you any discount?  If there is any way to get out of this deal, which I doubt, you should do so immediately

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Why are you telling him not to purcahse gap? Especially on a newer Nissan? "Mod Cut"

Please remember to be friendly, supportive and respectful! ~Lightnin, myFICO mod

[starry1]

I purchase gap insurance from my insurance provider, not the dealer. 

Means please remember to keep your posts friendly, supportive and respectful.

[Dustink]

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@way2evil wrote:

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@Anonymous wrote:

Couple things.  Should never have purchased the gap insurance nor paid $3000 for a service contract.  While service contracts can be worthwhile they never should cost that much.  What I'm more concerned about Is Line 1. Even with taxes of nearly 2000 how did they get from $22,905 to 26063.70?  Do you have a copy of the purchase order?  Overall they took advantage of your inexperience as no Sentra should cost you that much. Didn't they give you any discount?  If there is any way to get out of this deal, which I doubt, you should do so immediately

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Why are you telling him not to purcahse gap? Especially on a newer Nissan? Do you normally provide horrible advice to people here?

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Simply telling them not to spend $800 on GAP.

[Dustink]

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@Anonymous wrote:

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@Anonymous wrote:

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@pip3man wrote:

So yesterday I financed my first vehicle through NMAC. Got an interest rate of 4.5% thru NMAC and my TU FICO came back as 602. This is a new 2014 fully loaded Nissan Sentra SL. The sticker price on the car was $22,905, put a down payment of $1500 plus cash rebate from Nissan totalling $1500. Now im looking over the contract and it says my total amount financed is $27,555.20. Something don't seem right... How did it come up to this?? I know I did accept GAP coverage so what's wrong here, someone help me out cos I'm ready to return this car by Monday if there's something shady really going on. Here's a snapshot of the retail contract [IMG]http://i62.tinypic.com/9scu3a.jpg[/IMG]

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If it was me, I'll go back to the dealership and tell them what you did not acknowledge and what you want them to take off. If that doesn't work, I'll return the car. Most states allow a small grace period for you to return the car back to the dealership.Make sure to bring someone with you too, its safety in numbers.

You can also go to this post

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Intellis, don't mean to be rude but that just not true. It's a big myth that people are allowed 3 days to return cars.  The 3 day of rescission applies in very limited circumstances and invoives contracts where the sale takes place in your home or some place that is not the seller's normal place of business.  It does not apply to vehicle sales where the buyer goes to a dealership.  As for him going to the post you link he's not going to find any better information there.  The OP of that thread stopped replying a month ago.  I spent 17 years in auto sales management positions so I have a bit of knowledge on the topic.

http://www.consumer.ftc.gov/articles/0176-protections-home-purchases-cooling-rule

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+1

No cool down on an auto loan unless you purchase a cool down option with the dealer.

[Anonymous]

Because purchasing it thru the dealership for $800 is a ripoff.

[pip3man]

Thanks alot guyz, I appreciate all the contribution. I called the dealer/finance manager and complained to him. He told me to come back to the dealership so we can go over it. So basically if all works out my new numbers should be around $23k OTD (I'm gonna keep the GAP Insurance though cos that was the only extra I consented to). Trust me at this point, I'm so disappointed and ready to escalate this issue to the highest level I can. It's so sad how people are out there to consciously rip off others smh