I purchased an 2002 MItsubishi Eclipse. The price marked on the car was $21,700. I had a Cheve Camaro to trade. They said they would take the trade and add my negative equity onto the new contract. I agreed to do this.
After the contract was written and signed, they told me to try and sell my camaro myself because I would get more than they could give me.
When I confronted the owner, he denied that the negative equity from my camaro was ever added to the contract for the mitsubishi. He said that the additional amount added to the contract was their dealer mark up. This amount was $3,000. He told me that this was actually a low mark up compared to other dealers.
Now, I am faced with trying to get financing in November, for a $21,000. Car, when I owe $28,000. Who will finance over 100% of a vehicles value?
Patricia
Sonora, California
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