• Report: #360208

Complaint Review: Southwest Kia

  • Submitted: Thu, August 07, 2008
  • Updated: Thu, August 07, 2008

  • Reported By:arl Texas
Southwest Kia
Hampton Road Dallas, Texas U.S.A.

Southwest Kia I have a $30,000 Kia Spectra!! Dallas Texas

*Consumer Comment: what's the ripoff again?

*Consumer Suggestion: Sounds Familar

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I wanted to buy and inexpensive new car, mainly to rebuild my credit history. Unfortunate circumstances forced us into bankruptcy 6 years ago and although my husband's credit history was back on track, we had not worked on mine. So, I went to Southwest Kia. Bill Dickinson looks so all-American-as apple pie on tv but ohhhhh boy!! The deal really didn't take that long, the car was around $15,000. I went in to see the corrupt finance guy, and even tho I was leary of the interest rate at almost 15%, I was assured that I could refinance in a year or so with good payment history. So, I figured I could do it for a year, after all, it wasn't their fault that I had to file bankruptcy some years back. I called Kia Motor Co. where the car is financed, and OOOPSS!! the corrupt finance guy forgot to tell me one important thing- Kia does NOT refinance- they are only liscensed to do original financing. So, I went to other finance sources now that my credit score is back up to almost 700, and NOBODY will refinance this vehicle!! NOBODY will touch it because my payoff is $5000 more than what I originally paid for the car, and by the time I get it paid off, I will have paid over $30,000!!! OH YEAH_ they told me about a program that if I sent business their way and the person bought a car, I would get a free car payment. It just so happened that my son was looking for a car for his wife, and was at Central Kia. I told him to go to Southwest. He did- and he bought a car but I didn't get the free car payment- something about they had to apply my car payment money for the referral to his down payment, and didn't think I would mind- after all- he WAS my son!! So not only did I get duped, I threw my son to the wolves as well. Fortunatley, his deal wasn't nearly as bad as mine. So now I'm stuck with this piece of Kia crap for 4 more years at $408 a month. Thanks Bill- next time I will beware of sheeps clothing.

Msrpo
arl, Texas
U.S.A.

This report was posted on Ripoff Report on 08/07/2008 04:16 AM and is a permanent record located here: http://www.ripoffreport.com/r/Southwest-Kia/Dallas-Texas-00000/Southwest-Kia-I-have-a-30000-Kia-Spectra-Dallas-Texas-360208. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

what's the ripoff again?

AUTHOR: Vince - (U.S.A.)

Not really sure. He said you could refinance, which you can, with any of the hundreds of banks out there offerring auto loans. The vast majority of banks will not refinance if you are upside down on the loan though.

This isn't the dealers fault at all that you agreed to a large interest rate.

Be smart and start paying more than your minimal payment to bring down the principal balance on the loan, which will bring you closer and closer to be able to refinance the car at a much lower rate given that your score is 700.
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#2 Consumer Suggestion

Sounds Familar

AUTHOR: Cory - (U.S.A.)

Went to legend mazda last weekend with the wife. With what they were gonna give her for her trade-in and try and sell their $15 to $16,000, it would have cost us $33,200. Told them to take a hike. THAT's why you ended up in bankruptcy 6 years ago. You ended up paying $30,000 for a $15,000 vehicle. You didn't need a new car, you wanted one. Your $15,000 vehicle is now worth $10,000. What term did you take out? 5 years or 6 years? IF you want to pay less in interest, get a second job and/or pay more then the monthly payment and pay the vehicle off in a lot less time. You'll save yourself a hell of a lot of money in interest. Why didn't you let your husband buy the vehicle if his credit is soo much better?
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