They offered a deal of $47 a month for a three year period. The deal was they were a new dealership and needed used cars because they can make more money off a used car than a new car.
I asked all the right questions as to when we trade the car in will I be upside down and if so what happens. They said with all the rebates and incentives that everything would equal out and we would just trade the car for a new year's car and still have the $47 a month payment
Now what they're doing is just trying to add the upside down portion onto the new contract for the new vehicle which is probably going to be about $11,000.
By the end of the three years I'll owe about $60,000 on a $30,000 vehicle.
Hundreds of people took them up on this deal and there are hundreds of people getting ripped off.
They're also telling some people that now, financially, they don't qualify for a loan and they're stuck with the vehicle the bought the year before and now they have to start making the payment on that vehicle.
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