Monthly payment quote wrong. Fraud?

[Anonymous]

In the last few days we bought a 2013 minivan at a hyundai dealership for $13,299. We gave a 2k down. The quote he gave us was $225 a month for 72 months at 6.1%. We said no to warrenty and when we said no to the gap insurance he said hed remove it cause hed already added it in for us. After a long wait he told us to come back tomorrow because the finance lady wasnt there. The next day she tried again with the warrenty showing us the quote of $225 and said itd be $245 with it. We gave in and got it. But cancelled it today. Now running the numbers I realize the $225 quote was for $13,548. The car, plus dealer fee. The thing is, without the gap, counting my down of 2k that should be $11,548 for $192 a month. When she showed us the quote without warrenty shouldn't it have been $190? I think they swindled us there. Obviously were getting our money credited back to the loan for the warrenty. But if she had said the difference for it would be $55 and not $20 we never even would have said yes. It shows in the paperwork that the finance amount includes $11,299 for the car, $249 for the dealer fee, $2,000 for the warrenty, and $1,102 for something called "maintenence plus". Which were calling them about tomorrow to make sure that came off with the service contract since its listed seperate from the warrenty.

I hope that all makes sense, im pretty frazzled after 3 days of this.

[JGGM]

At the end of the day, I think you would have a hard time proving fraud, as I assume your signature is on those forms that itemize sales price, dealer fee, service contract etc. 

[Anonymous]

Oh, I know. Im just speculating the sleeziness of the tactic to give a quote including a service that hadnt even been offered and then not removing that price from the quote when upselling to make the price difference seem much much less. We got our money back.

[Anonymous]

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@Anonymous wrote:
Oh, I know. Im just speculating the sleeziness of the tactic to give a quote including a service that hadnt even been offered and then not removing that price from the quote when upselling to make the price difference seem much much less. We got our money back.

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Sorry to hear but it will be hard for you to prove it. Consider it a lesson learn moving forward and not making the same mistakes again.

[Appleman]

The dealers are not our friends, they are there to make money. They provide a service and as the consumer we have to look out for our own best interest.

If there is still confusion, I would take all of the paperwork back and make them explain things line by line.

Usually, the extended warranty and service contracts can be cancelled within 30 days with no fee.

One thing to remember is if the loan is done, any refund ends up going to the loan company. This means your payment will remain the same but the length of the contract will bne shorter.

Good luck.

[StartingOver10]

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@Anonymous wrote:
In the last few days we bought a 2013 minivan at a hyundai dealership for $13,299. We gave a 2k down. The quote he gave us was $225 a month for 72 months at 6.1%. We said no to warrenty and when we said no to the gap insurance he said hed remove it cause hed already added it in for us. After a long wait he told us to come back tomorrow because the finance lady wasnt there. The next day she tried again with the warrenty showing us the quote of $225 and said itd be $245 with it. We gave in and got it. But cancelled it today. Now running the numbers I realize the $225 quote was for $13,548. The car, plus dealer fee. The thing is, without the gap, counting my down of 2k that should be $11,548 for $192 a month. When she showed us the quote without warrenty shouldn't it have been $190? I think they swindled us there. Obviously were getting our money credited back to the loan for the warrenty. But if she had said the difference for it would be $55 and not $20 we never even would have said yes. It shows in the paperwork that the finance amount includes $11,299 for the car, $249 for the dealer fee, $2,000 for the warrenty, and $1,102 for something called "maintenence plus". Which were calling them about tomorrow to make sure that came off with the service contract since its listed seperate from the warrenty.

I hope that all makes sense, im pretty frazzled after 3 days of this.

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The warranty is $2000 per your post and you are getting that credited back (make sure they do that right away).

The "maintenance plus" is another rip off item where you are essentially pre-paying for service. Make sure to get that credited to your outstanding balance too.

Did they also add GAP insurance?  Getting it through the dealership is the most expensive way to purchase it. You can get it through your insurance co for less.  Check your figures with your insurance co.

Once you have all these items credited, you may be able to refi the loan with a credit union - even at the same rate and you will have a lower payment.  You were hoodwinked in the way that most dealerships like to do to consumers. The idea of making you confused is part of the dealerships process.  Make sure you get something in writing from the dealer for all the credits above. 

[Anonymous]

Thank you. They said the warranty would be refunded to the loan in the next few days. We'll give it a week or so and if not we'll fallow up. They didnt get on on the gap so at least we dont have to fight them on that.

Right now they're refusing to budge on the maintenance plan. We finally got the manager on the phone and he spent the whole time yelling at us that were children who cant make up our minds and he's not cancelling the plan and is tired of listening to our whining. I was shocked at the lack of customer service. Were going in monday to go over paperwork because we dont have any documentation or contract. He insists if our signiture is on his papers he wont cancel. Its possible it is if she said it was for the warrenty. That doesnt change the fact that they never asked us if we wanted it. I didnt even know it existed.

That's a good idea about refinancing. I just hope they can give us a low interest rate with the new account and HPs.

[fltireguy]

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@Anonymous wrote:
Thank you. They said the warranty would be refunded to the loan in the next few days. We'll give it a week or so and if not we'll fallow up. They didnt get on on the gap so at least we dont have to fight them on that.

Right now they're refusing to budge on the maintenance plan. We finally got the manager on the phone and he spent the whole time yelling at us that were children who cant make up our minds and he's not cancelling the plan and is tired of listening to our whining. I was shocked at the lack of customer service. Were going in monday to go over paperwork because we dont have any documentation or contract. He insists if our signiture is on his papers he wont cancel. Its possible it is if she said it was for the warrenty. That doesnt change the fact that they never asked us if we wanted it. I didnt even know it existed.

That's a good idea about refinancing. I just hope they can give us a low interest rate with the new account and HPs.

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THEY dont have much of a choice on the maintenance plan - You have the right to cancel that, just like the warranty. read the paperwork for the maint. plan. I am 100% positive that there is a cancellation clause in the fine print, generally you have at least 30 days, and, that also will be credited back to the loan. It doesnt matter if HE won't cancel, YOU have the right to cancel via the plan's administrator when done in writing. 

Also, was this from a new or used car dealer? if it was a new car dealer, you might want to mention to him the nice (LOL) review that you will give them on dealerrater.com. THAT should make him rethink as well.

Also, MAKE SURE you cancel the warranty IN WRITING as per the cancellation clause in the fine print, NO MATTER WHAT THE DEALER SAYS. Make sure that you have a paper trail!! 

[Anonymous]

It was a hyundai dealership. One of the reasons we chose them was because they're with a car brand. I figured they'd be a little more upstanding than in independent dealership. Lession learned.

They didnt send us home with any papers for the maintenance plan. Other than the name and amount listed on the purchase paper we never would have known we had it at all. When we go in tomorrow we're supposed to get a copy of the documents/contract. That is IF we did sign. He didnt have our file at the time, or didnt feel like looking.

We made him give us a cancellation paper for the warrenty, as well as a dated and signed statement from them that they cancelled it.

I deffinately plan to give a bad review after his yelling, name calling, and total unprofessionalism.

[StartingOver10]

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