I really fvcked myself/got fvcked!

[bmacd]

i bought a 2002 suzuki gsxr 600 (non-telefonica....kbb value) from Pilgrim Motorsports three weeks ago. I just got my first flat tire today (i dunno how) and broke out the paperwork for the first time to see if by chance, that it was covered by the extended warranty that i purchased. As i suspected, it isn't covered (as far as i can tell....) and since the dealer is too far away for me to drive to, i'm gonna have to take the wheel off and take it to a tire shop.

After reading my extended warranty papers and realizing what a joke it really is, i decided to read the 8 other pages that i signed my life away to. I started out with the dealer invoice and happened to glance at selling price. The salesman told me that the bike was priced @ $6700, but on my invoice, it says $7999. That's sooo far above kbb that i wouldn't have even considered this shop, or i would have tried to get the price lower, but since i was told (as opposed to seen in writing) $6700, i decided not to haggle.

I also got financed for the bike through G.E. Capital Finance of Utah. It looks like they're charging me 11.95% interest and my monthly payments are 197.58 for 60 months. That's $11,854.80 for a bike that was supposed to be $6700 (yes, i know that's the cost of having a loan), but this bike has now DOUBLED in what i was going to originally buy it for.

I know i signed all the contracts and i should have been more inquisitive when i was reading them, but i didn't and i screwed myself. i dunno what else to say or what i'm able to do.

blah

-=bmacd=-

 

[Francodman]

Just pay $100 more than minimum. That way you won't lose as much money to interest.

 

[Pastore]

i dunno what else to say or what i'm able to do.

Sell the bike for 12 grand before you spend too much. hahahahahaha...

sorry to find comedy in your misfortune, but you know how badly banks rape you on interest rates...

 

[Evadman]

Some states have a 3 day remorse law where you can return it and get a full refund. It is made for people like yourself who get carried away when signing for high ticket items.

You need to find out right now weather your state has such a law.

 

[SerraYX]

Ouch, that hurts a lot.. another reminder to always read all of the contract

Just pay $100 more than minimum. That way you won't lose as much money to interest.

Good advice if they allow you to do that, and if you can afford it.

 

[bmacd]

the bike has a retail value of $6700. There's no way i can sell the bike for that amount without losing $6000.

-=bmacd=-

edit: and to reiterate, i've had the bike for three weeks and i'm just NOW reading the paperwork. shame on me

 

[Evadman]

State is MI for youz people.

 

[flavio]

Take the price up with the salesman. They actually changed the price without you noticing?

 

[bmacd]

he verbally told me $6700. Looking at the paperwork, i was charged $7999.

-=bmacd=-

edit: and i noticed i signed my initials next to a box that says any rebates go to the dealer, thereby screwing me, once again.

 

[Codewiz]

Originally posted by: bmacd
the bike has a retail value of $6700. There's no way i can sell the bike for that amount without losing $6000.

-=bmacd=-

edit: and to reiterate, i've had the bike for three weeks and i'm just NOW reading the paperwork. shame on me

My mom has fallen victim to this many times at car dealerships :-(

 

[Evadman]

Buyer's Remorse - Pleasant as the dealer may be during the selling process, legally their obligation is over, and yours begins, when you sign on the dotted line and drive away. In most states consumer products are covered by 3-day Right to Rescind (buyer's remorse) laws. Unfortunately, motor vehicle sales and leasing contracts usually aren't covered. Contact your state's Attorney General's Office for more information on buyer's-remorse law in your state. If you find you don't like the car you bought, you're generally out of luck. In rare circumstances an understanding dealer may help you out. The paperwork may take weeks to process, though, and you can expect to lose thousands of dollars. If you bought a car privately, you have no recourse other than through your attorney or small-claims court. Returning a leased vehicle is virtually impossible due to the amount of depreciation, paperwork, and fees involved. If you believe you've been misled by a dealer, and have documentation to prove it, contact your state's Attorney General's Office and Department Of Motor Vehicles (DMV). If either feels you have a case, you'll need an attorney as well.

More information

 

[dakata24]

hopefully you learned a very valuable lesson.. always read, double check any contract/agreement before signing on the dotted line..

that sucks though.. that's like a 20 percent markup in price from what you were supposed to be paying..

how is your credit? that 11.95 percent seems kind of high.. not as high as someone with bad credit (20+ percent interest) but still pretty high.

 

[bmacd]

for Christ's sake, i dont even have a real license plate yet! I'm still riding on the temporary that expired today (no thanks to DMV and the dealership who probably never followed through with the paperwork).

-=bmacd=-

<==fvcking pissed that he just ruined the last of his 3 day weekend

 

[Garet Jax]

Car salespeople are the scum of the earth....

I bet you that is their company policy. They say one price, charge another and see who doesn't read closely enough to catch it until after they sign the papers.

I would call the salesman and gauge his reaction. If it was truly an honest mistake, then the salesman might try to help.

I bought a car from a salesguy and expected delivery within three weeks (which I was guaranteed). I was financing through GMAC (in Canada) and set the paper work up before receiving the car so I could just drive it off the lot (this included the VIN). I called a number of times to confirm delivery and was told it was on target.

The day before delivery, the sales person called and said that my car had been delayed. I was in a real bind because I had planned on driving to Virginia from Ottawa the day I picked up the car for an extended business trip. I searched all other dealerships in Ottawa and found one that had a car in stock that was as close as possible to what I had ordered (everything was the same except the colour ). Well, I decided to buy it and finance it through GMAC. When I phoned them to change the VIN on the papers they were amazed.

They explained to me that in order for a dealership (and a salesperson) to get a VIN, they have to either take delivery of the car or get a delivery confirmation from the factory. In other words, the first dealership was going to receive the car I ordered. They further explained that in all likelyhood, the original salesperson had resold the vehicle to someone willing to pay more and had hoped to take delivery of another exactly configured car before my delivery date but was probably unable to.

The last thing they said was that the only way this could not be the case is if the car was damaged in delivery to the dealership such that it needed to be repaired before being sold. The GMAC rep said that if this was the case, the salesperson would likely have told me this because it would not have been their fault.

:|

 

[SSP]

Originally posted by: bmacd
he verbally told me $6700. Looking at the paperwork, i was charged $7999.

-=bmacd=-

edit: and i noticed i signed my initials next to a box that says any rebates go to the dealer, thereby screwing me, once again.

Couldn't that be considered as verbal contract?

 

[gopunk]

geez, that really sucks. check to see if anything can be done about it, and if not, lodge a report with the better business bureau

 

[Antisocial Virge]

How could you not notice a $1300 price difference?

 

[bmacd]

Originally posted by: Antisocial-Virge
How could you not notice a $1300 price difference?

i got caught up in having a new bike and didn't think to look at the papers. I couldn't imagine anything could go wrong with my first purchase on my own w/o any co-signers.

-=bmacd=-

 

[flavio]

Originally posted by: Codewiz

Originally posted by: bmacd
the bike has a retail value of $6700. There's no way i can sell the bike for that amount without losing $6000.

-=bmacd=-

edit: and to reiterate, i've had the bike for three weeks and i'm just NOW reading the paperwork. shame on me

My mom has fallen victim to this many times at car dealerships :-(

You're telling me your mom fell for this not once, not twice, but many times?! Does she burn herself repeatedly on candle flames too?

 

[CubicZirconia]

You're telling me your mom fell for this not once, not twice, but many times?!

I was thinking the same thing. You'd hope people would learn their lesson after it happened once.

 

[Squisher]

I would at least call the dealer all upset and atleast threaten them with going to the BBB or the Attorney General's Office. You never know, some good could come of it.

 

[yakko]

Wow! The only thing I can really say is hahahahahahahahahahahahaha!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! If you didn't read it you shouldn't have signed it.

 

[hollowman]

First mistake - Understandable.. hopefully you learned something from it.
Second mistake - Slow learner..
Third mistake - You dumbass!
After that.. - Jump off the bridge.

 

[OutHouse]

dude they had you pegged for a pigeon the second you walked in the door.

 

[tcsenter]

What part about "always read the contract before signing" didn't you understand? Gadzooks man, if Jesus Christ himself was selling you a car....READ THE CONTRACT BEFORE SIGNING.

You can go into the dealer and raise holy hell in a way that won't get the cops called on you. Other than that, pay that loan off early to keep your total interest paid low and don't ever do that again.

You can try to sue for malfeasance, misrepresentation, breach of oral contract type legal argument, and rely upon the argument that the fair retail value on that model of motorcycle is subtantially lower and more approximate to the $6700 you were quoted, not the seven something you paid. Take a dozen estimates into court with you and try to make your argument.

But I could probably toss your bike 10 feet before you'd win.