Words cant express how upset I am with this dealership. The things they do to people is absolutely UNFAIR, MISLEADING and it has to be a STOP to this. I am writing based on MY experience, NOT what I heard. I will try and make my story as short as possible. In Sept. 2010 I purchased a used 2009 toyota yaris from Salesmen "Julio Cuellar" who then perceived to me as a honest individual based on how nice he was and the things he did at the time. I purchased the vehicle for $10,995.00.
They charged me a finance charge of $5,041.62. Down Payment made: $500. They added a extended warranty of $2,500 that i was NEVER aware of ,which caused my monthly payment to increase from $213.94 to now $258.96. Keep in mind this is a USED VEHICLE with 37,809 miles. Why would i purchase a 36 MONTH or 36,00 miles extended warranty term on a USED vehicle ? I would be crazy right ? When everything is all said and done everything comes out to a total of $14,880.38. This includes the actual price of the car, $55 document preparation fee, TAX $1,077.38 , WARRANTY $2,500 ,$245 Registration fee, $8.00 Exemption Fee.
Now lets do some math , $14,880.38 - $500 (Deposit) = $14,380.38
Actual amount financed : $14,380.38
So far I've made 28 payments of $258.96 ALL on time , $258.96 X 28(payments) = $7, 250.88
$7,250.88 is my total amount of payments made to the car already.
If you take $14,380.38(amount financed) and subtract $7,250.88 (amount payed already) your total is : $7,129.50.
See this is where it becomes tricky, because my amount I've of been told I still owe on the car is $10,600. Now to me this clearly doesn't make ANY sense. And if you follow the same steps i took you would see the BIG ERROR. My question is how come I still owe $10,600 on a car financed at $14,380.38 with 28 payments totaled $7,250.88. Something is clearly wrong. My Balance is not adding up.
These people clearly RIPPED ME OFF. 10% interest rate, 7 year payoff this is ridiculous !!!!! I WILL NOT STOP UNTIL SOMETHING IS DONE TO THESE PEOPLE. I'VE HAD ENOUGH , THEY ARE NEVER GOING TO GET AWAY WITH WHAT THEY DID TO ME. AND I HOPE ANYONE READING THIS WILL NOT CONSIDER BUYING ANY VEHICLE FROM NORTH HOLLYWOOD TOYOTA !!!!