In April we needed to buy a new car, but we had recently had some very bad luck so our credit was not what it used to be. We found Chacon Auto in Lewisville and we were excited they were a "buy here-pay here" lot with almost new low-mileage vehicles. We found the car we wanted and the times were acceptable. We knew they were not going to be great because our credit was bad. The salesman and manager we bought the car from both told us to keep the car a year, then come trade it with them for the SUV we really wanted. They also told us that with a year of perfect payments, we would qualify for a lower interest rate with them.
We have made every payment on time and even paid more than the regular payment on several occasions for the last year. We went back to the Lewisville location this past weekend to try to trade our car for an Expedition they had. This is when it got REAL SHADY.
We asked for our exact payoff and were told they could not give it to us. I have never heard of that. Anyway, I happened to see on the manager's computer screen that the payoff was $8,997.16, and when he printed out the new deal that is what the paper said, also. Then we asked what interest rate we were currently paying. He told us we were paying around 16.5%, but the new deal was going to be 17.49%. We were shocked!!! He also told us the sales tax is based on the total sales price of the new vehicle. That is not true!!! The sales tax should be based on the difference between the trade-in amount and the price of the new vehicle. Anyway, then he told us the interest rate went up based on the sales tax amount. When we started asking questions he told us he was uncomfortable working with us and asked to leave. Before we left I asked the manager to confirm our payoff was indeed $8,997.16, and he said that is our payoff if we trade with them. If we go to another dealership, it will be higher. How is that possible???
I am filing a complaint against them with the Consumer Credit Commissioner's office tomorrow. We make our payments on time and have been good customers... Why are we being punished???
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