Rip-off Scammers by SuSan C. at InsiderPages
A few weeks ago (April 12) my husband and I went to Team Chevrolet dealership in Alpharetta that had advertised a used car we liked on Autotrader. We decided it was a good deal, signed the contract and brought the car home that day.
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Because my husband is an immigrant from the UK and had just started full-time work, and in addition, my past credit history isn't great, (though our income level is more than sufficient to qualify, we were told), we knew we might end up paying a higher interest rate for a loan, which we made very clear to the salesman and the finance manager before we even looked at the car. We also told them several times that we were only willing to put $300 cash down. (The car, a 2003 Chev. Tracker, was only $5991, as listed on Autotrader and confirmed by the salesman when I called the day before) They presented us with a contract to finance the car, supposedly approved by a lender they work with that day. They assured us there was no problem paying $300 down and the payments were acceptable to us for the length of the loan, however they told us the listed price on the contract was going to be a bit higher due to lender's requirements' and
ended up being $7395. Being ignorant at the time of the many ways these car dealers take advantage of unsuspecting people, I didn't question that aspect of the contract, thinking the listed price is the way to get you into the dealership so they can suck all they can out of the customer.
We still thought we were getting an OK deal out of it, so we signed it and and felt fortunate to get a loan with little money down, despite our circumstances.
On Tuesday,April 22, I got a call from the dealership's finance manager saying we had to pay another $1300 cash in order to keep
the car because the lender wouldn't finance the car under the terms of the contract. I now know, after talking to an auto finance com