My boyfriend was looking for a car recently and decided to check out a few different Mitsubishi Lancer's. He found a dealership called Max Maden which is located in Aurora. He went there and looked at a few cars and decided to try for a loan. He was refused the loan because he did not have enough established credit. He then proceeded to try and get a loan elsewhere and finally got approved for A car loan. The only thing was that the bank would only give the loan for the invoice price of the car. The dealer had the car listed about 2000.00 over the invoice price of the car so he told the dealer he could not get approved. The dealer then came back with a counter offer and told him they would sell him the car for the invoice price and that the $1500.00 rebate would cover the tax, title and other fees. When he actually got to the dealer the dealer put him in the office with his manager and told him that he had to go to pick up a different customer.
When we got into the office with the manager he took out these papers and made my boyfriend sign them. Before signing my boyfriend asked the manager what the papers mean and if it was finalizing a contract? The manager said that it was not finalizing anything because my boyfriend did not get the check from the bank for the loan and the dealer did not even have the car in their posession yet. After signing the papers we found out that the rebate would NOT cover the cost of the tax, title and fees and that he would have to come up with that money (about $1300.00) plus they put a $100.00 hold on his credit as well as made him write them a check for $400.00. This means that the amount of the car was the amount of the invoice plus about $1800.00 which he would have to come up with himself. He did not expect to pay any money out of pocket and was told that he would not have to pay anything, the loan would cover everything. He then told the manager that there was no way he could come up with the $1800.00 and was told over the phone he didn't have to come up with anything.
The manager's response was for my boyfriend to take out a SECOND loan for this $1800.00 on top of the loan he had for the invoice price of about $17987.00. Having found this out, he told the manager he wanted to think about it and once again made sure that they did not have a contract. That night he heard about another dealership that was also selling the exact same car and when he called that dealership they told him the car was exactly the amount of the loan which was $17986.00 and that he would not have to pay anything out of pocket or try and get approved for the second loan which we already knew he'd be rejected for seeing they rejected him for anything over the price of the invoice. He of course went to the other dealership and looked at that car and got approved through the bank for that car seeing that they were selling it exactly at the invoice of the car. After taking the car home and doing all the paper work, Max Madsen got in touch with him and told him that he was the owner of the car at their dealership. When my boyfriend told them that he had already got the car from a different dealership because he could get approved for the amount of that loan, they got mad and started threatening him.
They told him that the paper he signed held him accountable for 5% of the cash value of the car which was about $930.00 because he was backing out of the deal. He explained to them that he did not have that money, nor was he backing out of the deal because he wanted that car but just could not get approved for their price of the car from the bank. He also told them that he was not aware that he was responsible for the 5% because we both heard the manager say 3 times that my boyfriend had no obligation to get the car nor was he the owner of the car because he did not get approved for the loan. When he told them this, they told him that it was fine if he says he will not pay because they are going to turn it over to collection and they will completely destroy his credit. If you are looking for a Mitsubishi, learn from our mistake and go somewhere else! The salesman name was Gabrielle and was cussing out my boyfriend's uncle and threatening to "meet him somewhere". I don't know if that is the kind of business man you want to encounter, but I know I do not.
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