I have seen the ad shown on cars.com for the BMW 328i convertible for $28,995.00 on 5/6th and have decided to go in to the dealership on 5/7th 2013.
The dealer had agreed to buy my Infiniti g37x coupe at $21,200.00, the balance left on financing my Inifiniti G37 Nissan Finance 20,200 plus extra $1000 which would be mailed out in check to my house the next day on 5/8 (never arrived).
We agreed to purchase the 2010 BMW 328i convertible at the price of $28,995.00 (what was advertised on their website).
The dealer had assured me verbally that I would be paying this amount plus doc fee, registration fee, dealership fee, with PA sales tax
I had went into the dealership at 6PM and told him that I am interested in the BMW 328i, and the dealer had kept me waiting until 11PM saying that he is waiting on my credit score.
I kept asking for the carfax report, he said he would give it to me once it was available. He gave it to me along with the sale contract right before I was about to sign at 11pm, I could not understand the car fax report, and he said the report shows clean history free of accidents.
As I was signing the papers the total sale price of 47,656.50 caught my eye, but he told me, not to worry about that price, the real price was reflected on the bottom “amount financed” $38,695. He told me that it was the final cost of the car which I’d pay over the entire period of loan term which included all fees, taxes, and interest. It still did not make any sense to me I told him I would not sign it because $28,995.00 plus all fees, taxes and APR does not add up to $38,695, but he told me it was because of my bad credit score (my credit score is 680) and ensured me that the APR would drop to 3 percent after I make my payments for the first 5 to 6 months, dropping my payments to roughly $35,000. Thus I had signed.
When the dealer was trying to contact my insurance company, he had caught my attention when he told the insurance agent that I would be contracted to 75 months (he had clearly told me that my payment terms would be $520 per month for 60months). I had stopped him right there and told him, that is not what we had agreed upon, but he told me not to worry and said it will change after I pay my first 5 payments to $520 per month for 60 months.
After he had spoken to the insurance agent and sale was closed, one of the workers from the dealership offered to drive the BMW out from the parking lot and he was smoking a cigar in the BMW while driving it out. I had immediately asked him to put it out.
On the sales contract, it states that my car trade in value was $17,000, and I have put down $2,500 in cash (I never put down any cash payment). It shows me with a negative balance of 700 dollars that I owe. The deal for my trade in was for $21,200.00.
At the time when I had signed the sales contract, the dealer told me I had to sign an arbitration agreement, which I asked him what it was. He told me it meant that, I must try to resolve any issues with the dealer before taking any legal action, and this was mandatory for all dealerships, so I signed it.
As the sales contract was signed, the dealer never gave me a copy of the Bill of Sales.
On May 16th I had received a letter from M&T bank with the total sale price of $46,971.75. I have contacted the dealership to ask them to fix this amount to what was reflected on the online price of $28,995 plus fees, taxes, interest. They have asked me to send them the initial copy of the online price and they would readjust it my sales contract, so I have sent them an email with their online advertisement. However they never replied back via email or phone.
On May 17th I called them to ask about 1000 dollar check for my Infiniti, they said they will send it out, and also asked about the $46,971.00, and the manager told me not to worry about it, and had told me the payment would go down, and if I were to pay off the car in full tomorrow, I would only pay $32,000.00, then said he was busy and hung up.
2:25PM called about the M&T bank statement, and they hung up on me right on the spot.
2:25PM called again they hung up again.
3:16pm called and asked for a copy of Bill of Sales, they said they provided me that doc on 5/7th, and I told them that I had never received it. They said they won’t get a copy because the secretary was not available. I’ve also asked for the owner contact info, he said he cannot give out that information.
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