Hey, I got a relative who was ripped off by a car dealer. Here's the story:
Last year, at around this time, he stopped by a Chrysler dealer in Southern California to look at their minivans. He saw an ad that listed one for $14,000 and asked them if they were available. They said "yes", but only if he would do the financing with them. While they were in the negotiation room, they asked him what price is he willing to pay...and he said $240. So they came up with a plan to make the payments $240/month, with a catch: The monthly payments would be $440/mon but they'll give him a check of $2400 so it'll be $240/mon. Then they promised him that they'll refinance him after the 1st year of payments and lower it to $215/mon.
They then type up the contract and it lists the van's price to be $25,000! Even worse, it's listed as a lease. My relative gets suspicious and asks them about it. They then tell him that it's required for auto insurance purposes. He got assurances from the manager, finance manager, agent, etc that this was necessary... He even got a signed note from the agent stating that the loan will be refinanced next year.
Well, the year has passed and the dealer refused to honor the agreement. Is there anything that we can do? Thanks in advance.
Last year, at around this time, he stopped by a Chrysler dealer in Southern California to look at their minivans. He saw an ad that listed one for $14,000 and asked them if they were available. They said "yes", but only if he would do the financing with them. While they were in the negotiation room, they asked him what price is he willing to pay...and he said $240. So they came up with a plan to make the payments $240/month, with a catch: The monthly payments would be $440/mon but they'll give him a check of $2400 so it'll be $240/mon. Then they promised him that they'll refinance him after the 1st year of payments and lower it to $215/mon.
They then type up the contract and it lists the van's price to be $25,000! Even worse, it's listed as a lease. My relative gets suspicious and asks them about it. They then tell him that it's required for auto insurance purposes. He got assurances from the manager, finance manager, agent, etc that this was necessary... He even got a signed note from the agent stating that the loan will be refinanced next year.
Well, the year has passed and the dealer refused to honor the agreement. Is there anything that we can do? Thanks in advance.
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