In Dec 99, I went to Earnhardt Ford's dealership looking at Crew Cab Pick ups.
I was able to get the dealer price the vehicle close to Invoice at around $28,000 or so. Unfortunatly, I was unwilling to sign up for those payments, and they suggested a lease arrangment.
To make a long story short... I fell for the lease deal and got ripped off big time. I traded a '96 Volvo which I was slightly upside down in. Based on their valuation, it was $6,000 upside down. I had no problem with this.
On my lease deal... they simply added the 6,000 to the MSRP, threw in a maintence agreement and viola... I signed a lease for a vehicle at $36,097.00, when the truck was only worth about
say $28,00. ($8,000 profit to the dealer for letting me have access to such a nice truck).
Now I'm looking at getting out of this mess, and it looks like the payoff on the lease, after making six months of >$500/month payments will be $36,859.08 Gee... more than the value of the
lease when I started. Since the market value of the truck is now less than when I started, I am looking at anywhere from $8,000 to $10,000 to get out from under this lease! UGH!
I can't believe that these types of deals are approved by bankers ... I also can't believe that I dived in and signed on this! I was very unhappy when I bought the truck (within 24 hours), and now I am really upset. This experience has made me
to decide NEVER to buy a new vehicle again.
$10,000 can buy a lot of parts on a used car!
I was warned AFTER I bought the vehicle not to sign a KEY BANK lease, as their early termination terms are prohibitive.
** BEWARE **
DO NOT BUY A VEHICLE FROM EARNHARDT FORD in Arizona. DO NOT USE KEY BANK AS A LEASING FINANCE COMPANY... or expect to pay $$$. -- Ross
Sent: 8/12/00 5:01 PM
Earnhardt Ford did the same thing in the fiftys. He ripped off a many Airman stationed at Williams Air Force Base. He tryed to rip me off but I got the best of him. One Airman bought a car from him and took it to the base to change the oil, he found saw dust in the crankcase. I can see that the old man or his kids have not changed.
Retired Air Force Sgt.
See another rip-off report at this web address: