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Originally Posted by Sandy209
Update: Dealer gave me 2 options today, renegiotiate a new contract, or return the keys and take my 2,000 payment back IN FULL immediately.
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Sounds like you get a do-over, a chance most people don't get. I would return the car and start over somewhere else. The worst that could happen is that you end up with the same deal, but with your eyes open and knowing you did your homework. I think you'll end up better off.
Quote:
Originally Posted by Tcoat
Unfortunately, too late for most of us but new buyers can benefit immensely.
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For most of us, this won't be the last car we buy. Even if it's too late to use this for your current car, remember it when you get ready to buy your next one. Car dealers have done an amazing job of convincing people that financing is supposed to come from a dealership, when that's simply not the case.
By effectively cutting out the competition from other lenders, they have put the car buyer in a position of weakness and given themselves an unfair advantage. Take back that advantage for yourself and enjoy the look on the salesman's face when you shut down his attempt to sell you a loan.