We purchased a new 2012 Ford F-150 in March 2012 in Missouri. At the beginning and before the transaction of written business, we strongly advised the salespersons that we were to pay the Illinois state taxes and the new truck title of $2041.43 separately.
It was our desire not to have the $2041.43 included in the amount to be financed.in the past, we have paid the state taxes and title fees at our local Division of Motor Vehicle in IL. The first salesperson stated to us, " OK, we can handle this for you here". Therefore, we thought this was a courtesy gesture.
We put a $1000 down payment only to reduce the monthly. Our FICA scores were 851 and 718, therefore we knew we had a very good APR of 2.09% which had been pre-approved by our credit union. Ford Credit APR was 3.85%
There was a Ford rebate of $1000 hidden in the figures of the trade-in. We were told that if we went through our credit union who offered a lower interest rate, we would loose the $1000 rebate. This information was not stated on Ford website at all.
The amounts of $2041.43 plus $1000 was added as "cash" with the trade-in allowance to reduce the purchase price of the truck.
All forms from the Financial agent are signed electronically before they are printed out and shown to the customer, therefore, it was not known until later that the state taxes of $1894.00, title fee $120.00 and $27.00 for a service charge which was included in the amount to be financed.
This was the fifth truck we have purchased for Dave Sinclair. We will NEVER do business with this company again.