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Screwed by dealer, need some urgent help!

sheepboy2010-08-29 18:11:22 +0000 #1
I will try to make a long story shorter: I ordered my car last week on what appeared to be a good deal (details not important, but are here www.m3post.com/forum...wthread.php?t=391562 ).

The dealer convinced me to date the financing paperwork to 5/31, even though the only thing I needed at that point was a $2,000 deposit until the car was actually cleared from the port / NJ preparation center. He said it would "help with their monthly sales number" and, as I apparently did not have much to loose, I did them this favor.

Fast forward one week, the car is not here (as they promised) and they don't know why. And I just found out that the interest rate for 24-month financing (my case) is down to 0.9% this month, from 3.9% last month!

I already gave them $4,000 charged to my credit card and a $36,000 check, which was cleared yesterday as downpayment. I called them today and demanded that the financing paperwork be redone with the current interest rate. They are resisting the idea and saying "bad luck!". I did some math and if this does not change I will loose around $2,600 in interests.

My question is: I have not taken delivery yet. Can I refuse delivery and get my money back?

Thanks in advance for the responses.

PS. Now my signature below sounds like a bad joke


Wah2010-08-29 18:19:39 +0000 #2
That is bad business. Definitely speak with a manager.
darwin3162010-08-29 18:56:40 +0000 #3
That sucks... call the manager. They should be giving you whatever the lowest apr is out when you pick up the car.
drburton2010-08-29 18:28:57 +0000 #4
Standard practice is to give you the best rate at the point you pick-up the car. In fact, my dealer let me lock on a rate and if it improved at the point of pickup he would give me the lower rate, but if it was higher I would get the locked rate.
sheepboy2010-08-29 20:07:41 +0000 #5
Quote:

Originally Posted by darwin316

That sucks... call the manager. They should be giving you whatever the lowest apr is out when you pick up the car.

This is actually coming from the sales manager! Can I actually (i.e. legally) refuse delivery of this car?
ASGM32010-08-29 18:48:07 +0000 #6
refuse the delivery and tell him that he had to disclose the interest rate to you and if he knew that there is going to be a change in the interest rate then i think you'd have a base to take the legal route .
elh01022010-08-29 20:17:30 +0000 #7
Quote:

Originally Posted by sheepboy

This is actually coming from the sales manager! Can I actually (i.e. legally) refuse delivery of this car?

Absolutely, and they are required to refund your money. First thing, call your bank and dispute the $4,000 credit card charge for the deposit, which will then be fully charged back to the dealer's account! They hate that. The financing issue is a bit different, but prior to taking delivery of the car, you should be able to cancel that application.
Wah2010-08-29 18:44:57 +0000 #8
Did you tell them you were going to refuse delivery unless they do the RIGHT thing and give you the current interest rate? I think if you tell them that, they will listen. They are just being pricks.
chungdae2010-08-29 20:32:22 +0000 #9
They are trying to screw you. If I were you, I would cancel the car, get my money back, and then go to another dealer. You did him a favor, it's time for you to take that favor back.
edlin3032010-08-29 19:40:03 +0000 #10
I have seen a lot of suggestions in the past about cancelling cars in various threads. Is there no way for a dealer to be sure someone will actually buy a car? I would have assumed that a signed sales contract, deposit paid, and loan applied for would be somehow legally binding.

Are there laws protecting consumers that allow us to back out at any point? I had put money down on mine and signed some sort of intent to purchase agreement, so when I was unhappy during my purchase I assumed I would lose my $4k downpayment if I had tried to walk away.
FredVMI2010-08-29 22:37:03 +0000 #11
I'm not an attorney, but, the contract you signed (if any) will determine your options.

Aside from the deposit/down payment, did you sign any contractually binding documents? If not, then you're entitled to a 100% refund of your payments. If so, was there any wording regarding a firm delivery date? If the date was documented and then then not met, then the contract is void. If the date was not documented (or if there are no other contract violations), then you may not have an easy out without threatening legal action. Hopefully, it won't come to that.

Work with the dealer without letting emotion creep into the situation (I know, easier said than done). Escalate the issue until you receive satisfaction. The Sales Manager reports to a General Manager (GM). The GM reports to the owner (or a district/regional manager if part of a large dealer network). You get the idea. Everyone has a 'boss', so, keep moving up the chain. Also, contacting BMWNA may be an option. Further, mentioning contacting your local BBB and places like www.ripoffreport.com: www.ripoffreport.com can rattle some cages. Lastly, you could mention that you'll be contacting your state's Attorney General's office to discuss the issue. Long story short, take action and don't assume the Sales Manager has the final word!

By the way, why did you make such a large down payment (with a check) in addition to the deposit prior to taking delivery of the vehicle? Most dealers will hold a car with just a nominal deposit. The payment you made seems odd. What's the story?

I wish you luck in working through this issue!
mkoesel2010-08-29 23:41:25 +0000 #12
Wow, that's some shady shit right there. They clearly knew that by getting your money in May you'd be missing out on the upcoming switch from 3.9% to 0.9%. In agreeing to do them that favor, I am curious if you discussed what would happen if the car came in with the wrong options or damaged or whatever? To me it seems like a big leap of faith to give money early with no exit strategy if something goes wrong.

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