List price: $20,831
added gap coverage=$600 (didn't mention it was optional)
total sales price=$21,431
trade difference=$21,431
adminstrative fees=$389
subtotal=$21,820
sales tax=$1485.40
liscense fees=$21
subtotal=$23,326.40
rebate=$2500
unpaid balanace=$20,826.40 for a 05 nissan sentra 1.8s with msrp of 15,000 before rebate.
I im so angry, i don't know what to do, i would feel stupid if i tell my parents, so somebody please help!
Hey,
My name is J.T. On Feb/10/05 I went to GREGG ISAACS AUTO PARKS in Tifton, GA because I wanted to trade my 94 Mazda Protg in for something new. Since Gregg Isaacs was a NISSIAN/JEEP/MAZDA type dealership, I picked them.
To make a Horror story brief.
I told them that I had a big down payment; I also told them I was on a budget because I work at UPS at night and attend college during the day. I then told them if they didn't have any cars that could me my request I would keep looking around.
The Mazda 6 was the first choice, she said it was the cheapest car they had and I was kind of feeling it. So we began to set everything up. She ran my credit report, and she came back and told me that I had "Good Credit, But Young Credit" therefore I will need a Cosigner. I didn't want my parents to know. So I Begged my sister and she finally agreed.
4 hours later Ray, the Finance man, came in said that I couldn't be approved for the MAZDA6 then he said he had a Nissan lender on the phone, He then showed me the 05 Nissan sentra 1.8s. I didn't like it, I was about to leave, But he stopped me he told me that I could keep it for a year to build up credit and then trade it for whatever I wanted. So I said I guess so. You have to remember that I didn't know anything about the car buying business and I had been in the Gregg Isaacs Building for over 4 Hours.
After I agreed, we went to his desk and talked 1). He told me that I would get more money out of my old car if I sold it myself. 2). I didn't have to pay anything down, 3). He then said that the payment came out to be 362.40 for 72 months with a 7% rate. I then told him about the $250 every month. So he told me that I could pay 250 every month and that he was going to cut me a big check so I could add 112 to my payments every month for a year. After a year I could trade, refinance, or keep. So my ignorant self went along with it.
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