Anyone watch it tonight? It was pretty interesting. Not that anyone didn't know they're getting overcharged, anyway. All the hidden costs are what had me surprised, and the financial fella that lied.

Personally, I won't buy new. For $3k I can get a lot more use and life from my old truck and car than I could a new one. $3k wouldn't go far on a new one. That's what? Down payment?

 

3 years and half the value is gone. I'm not worried about impressing people and i have to money to buy a new car but it s not worth it to me.

 

I agree, the only benefit you get when you buy new is the new car smell, and now you can even buy that.

 

I just watched it. I found it to be very informative. I will keep some of that stuff in mind when the time comes............It just makes me all the more to see that these people do this without a conscience.Next time I go to a dealer I won't be The dealer best not mess with me or he'll get

 

I've been selling cars since 1986. In all those years, I have NEVER seen anything like the tactics those dealers used. FORGING SIGNATURES TO CONTRACTS? And the Florida AG lets them off with a fine? Those people should be going to jail!!

If you watched the show from the beginning, then you saw excerpts of that dealer's TV ads. Folks, when you see ads like those, you just KNOW you've got a dealer that's going to screw you! They did offer some good advice, though: NEVER negotiate from the standpoint of monthly payment. A dealer like that will play "switcharoo" with the term of the loan (yeah, he lowered the payment by lengthening the loan), NEVER sign an arbitration agreement, and don't take delivery that day. A lot of these problems start with dealers that do same-day delivery, assuming that they have you approved for the loan at a certain rate.

I just wish, just ONCE, that they show what goes on at a reputable dealership. The reporter spent about 8 seconds (of the entire 1-hour broadcast) stating that, "although not all car dealers use these tactics..." Okay, they covered their legal ***** with that one, but it's just not fair to paint ALL dealers with the same dirty brush. Then again, who would watch a show about good car dealers? Not nearly as interesting as what they did last night, right?

 

I agree about taking delivery on the same day. The best way that I have found to get a new vehicle is by doing it over the net. They know that you are shopping around and are an informed consumer.

When I bought my truck in 1999 they were already getting the 2000 in and they were willing to deal. I told the salesmen what I wanted and he did all of the legwork. Matched what I wanted down to two different F-150’s. Called and asked me which color liked more and said that it will be waiting for me to do a test drive at 6:00 P.M. that night. Drove on the lot and waited 5 mins. for the salesman and all he did was take my info and give me the keys. Asked if I had a trade-in and I told him that they would not give what I wanted on a trade. (1994 Ranger with 145,000 miles in perfect condition) They told me that they would estimate it and I told them if they could meet what I wanted I would trade it in. Thirty minutes later, I returned (without a salesmen) and stated that I wanted the vehicle. They told me what they would give me on my trade, which was $500 under the starting asking price, so I traded it in. They started all of the information about the loan and I told them that I would come back the next day to sign all of the paperwork and that I would not pay more than $22,000 (Sicker was 27,500) for my truck. Came back the next day swapped keys and was out the door in thirty-five minutes.

I would and still do business with this company. Most vehicles are good for well over 150,000 miles I will be driving my truck for another ten years. Considering I paid all of the money for it I will get as much out of it as I can.

Moral of the story is to be informed and never be in a rush to sign anything. I was not sitting for three hours, so I read everything that they put in front of me and told them that I did not want ANY add-on’s.

 

Face it no car or truck holds any value. If you buy new,you lose the same if you buy used. By keeping up maintenance (with records) and by keeping up the appearance you do save some at re-sale or trade.
Dateline just proved that you have to be a prepared buyer and do you homework.

 

I didn't see the show, is there a link to see the transcript?

 

I was going to post on this and directly ask your opinion 1956MarkII. Thanks 88grandmarquis for saving me the trouble.

I watched it beginning to end. I can't say as I was surprised at the dealers, I was VERY surprised at the lack of consequences.

I have a "friend" who's a finance manager at a Ford dealer, he'd sell his grandma down the river for a buck if he got the chance. Despite the fact I play hockey with the guy and he's a decent guy on the whole, I would never buy a vehicle from him.

Slipping stuff in you didn't ask for or are unaware is theft/fraud as far as I'm concerned. I can't believe the slap on the wrist these dealers got.

Now - that being said, I don't find it crooked not to volunteer information. It's not the dealer's job to educate the consumer. If you don't ask for the rebate, or at least if any rebates are available, then, IMHO, you don't deserve it.

If you're too dumb, for lack of a better word, to understand that buying based on payment doesn't work, and to calculate the numbers for yourself, then you deserve at least some of what you get.

No doubt the dealers they examined were crooked, BUT, at the same time, if the consumer is educated, they don't get taken. It's a two way street IMHO.

If past threads here at FTE are any indication, I don't think anyone here learned anything from the show.

Waxy

 

Hey, thats why i like to drive 20 year old used cars. I bet you can get the same milage from my old 2 decade old car as you will from your brand new one. At about 1/8 the price as well.

My favorite example is this old auto tech professor i had. about 15 years ago, he bought a 75 station wagon with 80k miles on it. Since then, he's drove it about 230k miles. He paid $800 bucks for it upfront, and has only put maybe 3 grand into maintaining it over the years. Sure...this thing is a major rustbucket, and is probably one of the most hideous cars i've ever seen. But with the money he saved, he was also able to by a nice flashy 69 vette.

 

I bought my '03 Expy in July of this year. We bought under the "X-Plan" which saved us some bucks. We financed through our bank so we took the $3500.00 rebate. My wife did some research on the web before we got to the dealership and found out about a $500.00 Ford 100th anniv. rebate if you purchased a new vehicle before the end of July. When we got into "the room" with the finance guy we asked about the extra Five Hundred $$ rebate. The guy told told us since we were taking the $3500.00 rebate we were not eligable for the Five Hundred. It took me talking to three "managers" before they gave us the rebate that was supposed to go with the sale.
Dateline was right, I felt like I got screwed in the deal. The sticker on the Expy was $38,800 and after the X-Plan and both rebates we paid $31,000, which I think is a fair price.
I am going to look over my contract and read every word. (I probably didn't read half of it before I signed it )
My truck has the etched windows...I wonder what I paid for that?
I guess you never stop learning!

 

You may be able to find something here
Dateline

dan

Edit: Just watched video. Pretty sad the dealer ripped that woman off, but she should have put two and two together (realizing she had to make an extra 12 months payments for her low monthly payment). Oh well.

 

I am going to buy my next used vehicle off ebay. Probably, unless I find a kick-@ss deal in local papers.