Re: Scummy dealers

[Jerry Chyo <jerryc@xxxxxxxxxxxx>]

It happens all the time.

When I went shopping a few years back for an SUV for the
better/smarter/nicer/kinder/...you get the picture, half, I went in already
having found financing at a credit union by my office.  Great rate (around
7%) for 60 months.  I really didn't advertise this, I just told them I
would consider their options.

After agreeing on the price I asked about their financing and was quoted a
rate of around 11%.  I declined and said I had better financing already so
they told me to come back in about an hour so they could do the paperwork.

When I came back I looked at the paperwork and they had set me up for a 60
month LEASE with the same down I had offered ($8000) with a residual of
$14500 (on a $26k Exporer).  I did the math in my head real quick
($26k-8k=$18k-14.5K=3.5K) so they were giving me $3500 credit on the car
for 5 years of payments (at around $350/month).  I pointed out that I had
financing arranged and had no intention of signing lease papers.  The next
5 minutes where out of a keystone kops movie.  The finance manager was
yelling at the sales manager who was yelling at the salesperson who was
yelling at everyone.  Turns out they agreed to sell the car for a little
more than $100 over what they paid so it appeared they were trying to make
up the loss on the back end.

I got the car for the agreed upon price (and to add insult to injury they
had already filled up the tank, washed it, and given me floor mats) and
they got egg on their face.  The moral is, read everything you are going to
sign, no matter how much they try to hurry you through.  I got burned once
(buying a new Jeep Wrangler) and you can bet that will never happen again.

BTW, the dealer is the Los Gatos, CA Mercury dealer.  Beware.

Jerry Chyo
'88 M5
'72 tii
'94 Eddie Bauer Explorer (that needs new shocks) when she says I can drive it

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