tack on stuff(warranty, gap, etc..)make it more appealing to the bank. it shows that if the car breaks, get wrecked, or you lose a job that they will still get paid. can make a difference in % or even getting approved at all.

I hope everything works out. Good advice from people on here. Now with that being written...

Time for ridicule

http://fail.brm.sk/facepalm/facepalm2.gif

Let this thread be know for people thinking of purchasing this car without having the financial backing to afford it. Take the emotion out of it and think logically before signing anything or next time just walk in, drop your pants, get out the lube and grab your ankles.

buddy listen,just do it my way,the italian way. you go there and you say " i don't give a fuck about you and the paper you made me sign,i ain't getting fuck all from you. give me my money or i will crack your head open with a baseball bat"

On the other half, I got my car for 27k flat with spoiler and bespoke w/ no dealer markup. Not sure if that's a good deal or not.

that is a good deal:thumbsup::thumbsup:

There is a specific document that is signed during the financial closeout process and the purpose of the document is to state and clarify that you have entered into a contract with the dealership and that this contract is binding on the documents contents, which usually specify that both parties agreements are met. If you signed this document already you may have a harder time walking away from this deal.

Also as a side note; your state may have a law that allows you to cancel a car purchase within 72 hrs of taking delivery, I know VA does. Just check your state law on this.

I don't know why you'd react so strongly and purport that it is such a ridiculous idea before Googling it or taking time to think about what it could be referring to. For the record, it's not just idiots and people being swindled who accept life/disability insurance to protect a loan...

You've NEVER heard of an insured loan, ever? If not, maybe think twice before you:

"OMGROFL life insurance being sold at the same time as a car loan wtfbbq!!!"

$34K could be the total cost of borrowing after interest...another poster mentioned it on the first page I believe.

Laughing and comparing his total price to others may be moot if you're not taking this into account.

I lean towards this method. Explain to the GM that the deal will NOT be completed and you will NOT be purchasing the car at this time. Request they give you your deposit back. If they give you any shit, say 'fuck you, I'm calling an attorney' and walk out.
Then back up the threat by calling an attorney.

That would be a very hollow threat. Not too many sensible people would pay an attorney his fee to handle a $100.00 matter.

I was thinking more in line with the dealership not agreeing to canceling the contract and trying to force him to buy the car. I agree, it wouldn't be worth it to get legal assistance for a $100 dispute. It would be much easier to test drive one of their cars at a later date and fuck it up royally (which you should NOT do - that would be very, very wrong).:D

Laws will vary from state-to-state on this situation. There has been some good advice and factual information posted in this thread already, but being that I work at a car dealership as a salesman for the last 10+ years, I feel compelled to chime in my $0.02.

I'm in PA, so this is how it should be handled according to our laws.

You can sign all the paperwork you want and you are not an owner...yet. You become the registered owner of said vehicle when you take delivery of it and drive it of the dealer lot with YOUR registration on it (new tag or transfer). If you don't leave the lot, it's not your car. If you leave the lot, get a block away and turn around and say that you don't want it anymore, technically, that car is yours. Now, the dealer may try to convince you that you are making the right decision to keep the sale together, but if they can't, they should just shred the contracts, and move on and save any bad publicity. Is this one car deal really worth it for the consumer to run around saying how "XYZ Dealer" screwed me into this car? Nope, definitely not.

Now for the "extras" like life insurance, disability, etch, GAP insurance, extended service contracts (warranties), maintenance programs, wheel & tires programs and anything else that the finance department will offer you are ALL OPTIONAL products that are up to the consumer to decide if you want to purchase, NOT the bank. If the finance manager told you that the bank requires that you purchase that stuff, they are in violation of at least one in not more laws that are out there to protect consumers and actually dealerships as well.

There is a form that is required to be signed that states that any additional product is optional and not required to secure financing.

Here's a link: http://www.paadps.com/installmentsal...form-1013.aspx

Here's a good (yet tragic) example of why dealerships offer you these products. This happened to my dealership circa 2003-2004. A younger guy, about 22-23 years old that I used to work with at a pizza shop delivering pizza with bought a used Mitsubishi Eclipse. I don't remember all the details of the transaction, but I do know that he signed a form stating that he was offered life insurance along with other products and declined them. Six months following his purchase, he was stuck by a vehicle driving on remote road where street racing occurred frequently. He was the starting flagger and had his back turned. A vehicle came around a turn and struck him, ending his short life. Now the family had this vehicle and the lawyer handling the estate had his family contact us about the details of his purchase and if we had proof that we offered him life insurance. The reason he did this is because if we did not at least offer it to him, there is a very good chance that the dealership would be on the hook for the remainder of the loan.

Now that was an extreme example, but it could also come into play with GAP insurance or extended warranties. For example, you trade in a car and are upside down by $5k (national avg is $4-5K), and you drive your new car home and park it in front of your house. A drunk driver flies down your street and slams into your car, totaling it. The driver's insurance company is not going to pay off the entire amount of the loan. They will pay for what the vehicle is worth depending on miles, year, etc. Say it's a new FRS 6MT so they will give you MSRP plus taxes usually if it's extremely new (bet case scenario). If you bought the car with $0 down, your loan is probably around $30-31k. Guess who is stuck with that balance? Sure, you can try suing the driver or his insurance company, but good luck with that. Wouldn't you like to know that GAP insurance was available that would cover you in a situation like this?

*Disclaimer* I am a huge fan of GAP insurance because it has personally saved me $4k in 2005 when I totaled my 2005 Tacoma with 4500 miles on it. I WILL NOT buy or lease a car without it unless I put a large sum of money down. (then you don't need it, but it doesn't make sense to put a large sum down on a lease unless you want a ridiculously low payment)

All these extra products do provide value to different customers (as long as the dealers don't try to rape and pillage on the pricing of them). Some of them are more valuable than others. It is up to the consumer to decide which of these products they see value in and make the decision to purchase it on their own and NOT be FORCED into buying to "GET APPROVED".

Dealers that try to force these products on you and lie to get you to buy them piss me off to no end. All it does is make a quick buck for the dealership and that's it. Most of the time, the consumer will realize that they were taken advantage of and will spread the word very quickly and loudly about their shady practices, hurting that dealer in the long run. I am so glad that my dealership has a full disclosure policy that EVERYTHING is put in back and white in front of the customer for them to decide what they want and do not want.

Does our finance department try to sell you on the value of these products? Yes, of course they do. It's their job, but they do it honestly and your options are laid out in front of you. I've noticed that in my area, more dealers are moving towards this approach, which is a good thing. There are still a few that will break out the Sharpie and scribble down numbers on a blank sheet of paper, but won't let you take their quote with you if you leave.

/RANT

If they give you sh*t, threaten with the Attorney General and/or BBB. You should also be able to get your $100 back too, but that will be more dependent on your state laws. In PA, you could.

Ruskymx

Take a Buddy with a video camera on..... go into place, see them GM and say "Sir would you please give me my $100.00 deposit back since you do not have the car." The deposit secures the car for you, not purchase it. Do not be bullied. Life insurance crap holly cow, wtf. Anyway, put video on web or send to your local newstation. Even call the cops.....to the dealership.... turn the tables on these scumbags

Where are you located? Most states have a 'cool-off period.' You don't need to take delivery of the car -- if you do, just return it.

I've spoken an attorney, and in Colorado, state law dictates that if you signed paperwork BEFORE the car is on their lot, and have not taken delivery of the car you are not liable to buy that car.

However if you signed it while the car was on the lot, and left it there to have work done or something that is a "delayed delivery" of the vehicle and you are liable to purchase.

Lucky for me I signed before the car was there.

when I went into the dealership, they tried to pressure me into taking it for a test drive.
Which would have consummated my contract, leaving the dealer riding in the passenger seat free to get out of the car and say, this is now your vehicle.

I didn't take it for a test drive.

They offered me a price with 0 down, 5% apr, no extra stuff, offered to throw in the five axis spoiler and repair the bumper that they drilled (when I explicitly requested them not to).
They offered all this directly after I mentioned reporting a claim to the board of dealers.

After I left I called toyota motor finance to talk to them what was going on, and they suggested I file a complaint through corporate. I called them up and told them the story, they said the only thing they can do is file a report, and send it to the dealership, which I did. So I will also be making a claim through the board of dealers and faxing it in tomorrow.

Also, to all those questions, about if the 34k was after the interest, it was prior to it.
The price after interest, the "total sale price" was 44805.25

Also, I declined the life insurance because I am in the military, I have a 500k plan that I already pay into.

Glad you were able to get out of it. $34K was a crappy deal.

OP... at most, you're out $100. While I am in Canada, where "Bill of Sale" laws may be a little different, I quite confident that you have not done anything wrong. The dealership can keep your deposit though. You requested a car be brought in, and often there is a cost to that. They have put in some work, it's up to them if they want to keep the $100. At my dealership we never keep deposits unless we have incured expenses in getting the car, or installed parts. In ten years, I've seen two deposits kept. If you leave the dealership happy, you're more likely to return in the future. Just makes business sense.

The finance manager however, is flat out lying to you by saying you'll have a better chance of being approved by purchasing warranty or insurance. While banks like to see loans protected, it does not effect approval. What he/she did is called tied-selling, and it's illegal. Canada or US. Illegal, and unethical.



12 car loans and never offered credit protection (life/accident & health/ job loss insurance)? Unless it's something the dealership does not have to offer (which is rare), I call that negligence on the part of the Finance Manager. It's something that can be a huge benefit to you, and is an available option that you can't add after the inception of the loan. Do you have to take it? Not at all. But, isn't it better for you to make that decision, rather than the Finance Manager pre-judging in thinking you don't want it?
I've been a Finance Manager for a long time, and I can tell you honestly that I have NEVER swindled anyone. I'm proud to work at a dealership that adhears to a "full disclosure of available OPTIONS" policy. It's just a nicer way to do business.

Really didn't mean to make that a rant. (the CAPS above are meant for emphasis, not yelling) Really all I'm trying to say is that you should always have the option to structure the deal in the way that you want it. Many people don't really know what all of their options are though. Everyone should always ask. Information is free, and it's always better to make an informed decision.

holy crap that is crazy... how are they getting away with selling it for so expensive with scions no haggle thing... i know they do the packages thing(they got me with that shit) but up to 34k worth? then 10 in financing? damm that seems crazy.

Forty four BLEEPING thousand dollars???

DAMNNNNNNNNNNN that's out of control!!

If they still try to hassle me into buying this car I'm considering going to the media.
This town is not very big, only around 500k people live here.
We have 4 military bases, and 2 military off sites, it is a VERY military heavy town.
If word gets out that this dealership is trying to scam young military people, they will get a TON of negative publicity

Maybe it's a Canada thing, eh?

I'd say with 1/2 of my dealer car purchases, I have gone in with financing already lined up through Capital One. They approve me, give me a check, and I go to the dealer with it. After I've negotiated the price of the car I tell them "oh yeah I don't need financing" and show them my check. They then ask if they can try to beat whatever rate I had. I tell them sure. Twice they have been able to, and I have accepted.

I can't remember ever being offered life insurance for the loan, etc. Maybe it's because by the time we are to that point, they can tell I am not a sucker for nonsense. The only protection I ever accept is GAP...and that's when I'm putting nothing down.

This. It's called Tied Selling and it's illegal. This dealer is shady and using coercion to get you to take this car. Get a lawyer.

you are the only military person i ever see getting punk by dealer. smh

Right!! Since San Diego is a big military town, the dealerships love the young military guys like inmates love new pedo inmates.

I don't know why you guys (military) become victim to dealership salesmen when buying a car or motorcycle. I hear it all of the time especially with Marines buying a new Gixxer/Yamaha/Honda/Kawasaki for 10K with 12-16% interest rate. :bs:

OP, glad you were able to get out it and tack it down as a lesson learned.

It's because they're usually 18-20ish year olds thinking that $1500-$2000 a month is a lot of money. It's the same mentality of a kid living at home with his/her parents and only paying for their material possessions.

They haven't fully matured to understand financial responsibility and blow majority of their earnings on luxury vehicles and other tangible materials without saving it because they see a steady check coming every month.

With that being said, I really don't mean any disrespect to any of our military veterans because they fight for our freedoms. And if they want help with their financial future I'm more then willing to give them a free consultation.

And I'm glad the OP is getting out of a possible financial hole. Learn from your mistake and make better decisions in the future.

Probably because they're a bunch of teenagers who are away from home for the first time and they still have a lot of growing up to do before being capable to take on the real world.