I dealt with a salesman online to pick out the vehicle I wanted and came to an agreeable price. After all of the routine paperwork I was brought into the Finance Dept.
After my credit was pulled and the finance papers were ready to be signed I reviewed the APR, 9.1% with excellent credit (760). I asked the finance rep why the high rate. Her response "GMAC has reviewed your credit and that's the rate they gave me". I was ready to walk out when the head salesman was called in.
He stated that he would use a coupon to buy down GMAC's rate for a lower one. At 7.9% and 9:00pm at night, I decided to sign the paperwork and go home, knowing I could still back out at this point.
The next morning I call GMAC and the lady tells me that the dealer sets the APR not GMAC and that the finance department only calls them once the contract is complete. They give the dealer rates from low end to high end for credit reasons. But based on my credit score the 9.1% was extremely high.
I called the dealer to notify them of this and all I got was "we can lower the rate for you". No response of were sorry or anything.
I wonder how many other people are aware that when they buy a car from Koons Chevrolet that the dealer will lie right to there face and not even apologize, just ask the same old question "what will it take for us to get you into that car."
To further the lying by Koons, the $678.33 I put down has yet to be creditted back to my account, the salesman has promised twice to make sure my monoey is returned. It's been two days.
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