On Monday, March 24th my wife & I contacted Eastern Motors regarding a 2005 Cadillac they advertised on their web site. The ad had no price and said to call. We were told that it was not located at their Leesburg lot, even though it was advertised as such. Also, they would not quote us a price or transfer the car from their Maryland lot without first running our financing.
At about 5:30pm, we arrived at the dealership hoping to work out a price, see the car and make a deal. Upon our arrival, we were given a price which was anywhere from $5000 to $8000 ABOVE comparable models in the area. Again, they insisted that in order to move forward we needed to fill out their financing paperwork. When I refused, the dealer told me that the price was not negitiable due to our stated "poor credit". He stated that since we were a "second chance" situation, they were required to charge us TOP DOLLAR for the car. I attempted to express to him that my credit situation has no bearing on the price of the car, but he insisted. I showed him print-outs I had of similar (even identical) cars being sold at nearby dealerships at thousands less, but he refused to listen.
Realizing that there was no possibility of making any deal, we left. How could a dealer possibly charge thousands more for a car due to the customer's credit. The dealership is taking no risk, the bank is, hence the high interest rate. All the dealership does is process some paperwork and collect their money. This is a perfect example of a company with poor business practices taking advantage of consumers.
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