Hi,
I just took delivery of a 2002 Z06 on Friday 9/28. I love the car and the delivery of the car went fine. My problems began Saturday when I gave the paperwork a closer look. What happened was , the dealer just so happened to add an additional $800 in the finance contract. I looked at my purchase order, at the amount to be financed and the amount financed on my contract with GMAC and found that the dealership "slid"$800 to the price of the car. They added this $800 to the line that shows the price of the car, taxes, license fees and any extras that may have been on the purchase order. When purchasing this car we argued on the price for over two hours before we came to an agreement. I traded in a 2001 Corvette 6 speed , loaded convertable so it wasn't an easy trade. The 2.9% 60 month GMAC financing and the 405HP Z06 enticed me to trade the car in. I called the sales manager about this and he referred me to the finance manager who put me off the better part of the day. I called back again and demanded that this matter be resolved today. You see I was hoping that this was a mistake in the paperwork and not done on purpose. The finance manager gave me the biggest bullshit story I ever heard of ,he told me that GMAC in order to approve my loan at 2.9% needed $800 interest up front because I had a rate at 9% on my previous loan. So, lets see GMAC will not finance me at $30100 but they will finance me at $30900? I asked him if he thought I was born yesterday and told him that you had better get a check cut for the amount overcharged. After several threats on my part, lawyers, go to GMAC etc. they cut a check for $769. They thought they could get away with all of this because they quoted me payments all along the dealing process with the $800 figured in all along. So always bring in your purchase order with you on delivery and take the time to see if that payment really is for the amount that your financing. It is very easy to hide hundreds of dollars into a contract especially when it is for a large amount financed at a low interest rate.
I just took delivery of a 2002 Z06 on Friday 9/28. I love the car and the delivery of the car went fine. My problems began Saturday when I gave the paperwork a closer look. What happened was , the dealer just so happened to add an additional $800 in the finance contract. I looked at my purchase order, at the amount to be financed and the amount financed on my contract with GMAC and found that the dealership "slid"$800 to the price of the car. They added this $800 to the line that shows the price of the car, taxes, license fees and any extras that may have been on the purchase order. When purchasing this car we argued on the price for over two hours before we came to an agreement. I traded in a 2001 Corvette 6 speed , loaded convertable so it wasn't an easy trade. The 2.9% 60 month GMAC financing and the 405HP Z06 enticed me to trade the car in. I called the sales manager about this and he referred me to the finance manager who put me off the better part of the day. I called back again and demanded that this matter be resolved today. You see I was hoping that this was a mistake in the paperwork and not done on purpose. The finance manager gave me the biggest bullshit story I ever heard of ,he told me that GMAC in order to approve my loan at 2.9% needed $800 interest up front because I had a rate at 9% on my previous loan. So, lets see GMAC will not finance me at $30100 but they will finance me at $30900? I asked him if he thought I was born yesterday and told him that you had better get a check cut for the amount overcharged. After several threats on my part, lawyers, go to GMAC etc. they cut a check for $769. They thought they could get away with all of this because they quoted me payments all along the dealing process with the $800 figured in all along. So always bring in your purchase order with you on delivery and take the time to see if that payment really is for the amount that your financing. It is very easy to hide hundreds of dollars into a contract especially when it is for a large amount financed at a low interest rate.
