I went to Thomas Toyota on November 26, 2005 to see what the trade in value of my 98 s10 truck was worth. As it turns out, this would be the most costly mistake I have made so far in my short life (22yrs).
I was approached by a salesman who had me test drive vehicles while the mechanics were supposedly figuring the value of the truck. The vehicle that interested me was a 2005 scion tc which I had never heard of before. The vehicle had 10,000 miles and they told me it was fully loaded and cost $19,000. As it turns out it only had the standard items and retails brand new for about $1700 but I was clueless to the value of the vehicle.
I proceeded to tell them that I couldn't go over 300 dollars a month so the salesman had me sit at a table while he went to financing with my offer of 300 a month. He came back with an offer of 390 a month. I said no, I can't go over three. He left and came back and this occurred about 4 or 5 times (making me anxious to buy the car) before we finally agreed on 320 a month for 5 years with the extended warranty.
So I finally got to the financing office for the paper work where Joel (the financer) had me sign about 5 to 8 papers one after the other each with a brief explanation. When he got to the payment part he apparently had no clue as to what I had agreed to. His offer was 6 years 420 a month 1000 dollars down plus my trade in (approx $2000 after payoff). I said that this is not what I agreed to and he manipulated me saying this is what the sales person had said and he made the deal look better by changing it to 500 down and 350 a month for 66 month with no warranty.
I wanted a warranty so he came up with a 5yr 100,000 mile warranty and rust protection and gap insurance coverage for 405 a month at this point I had been at the dealership for hours and was getting restless so I agreed.
The next morning I noticed a small dent in the door and several bad scratches but that would be the least of my concerns. I went through the paper work and found that I had been majorly ripped off. The warranty that cost me over 2000 dollars was worthless because Joel had failed to mention the 5 year 60000 mile manufacturer warranty that came standard with the car.
I proceeded to check online for the value of my new car and found on the Thomas scion web site a brand new scion tc for 17390. The cost of my used scion...$19900 after my trade in and 500 down!!!! And the car wasn't loaded as the salesman had said...It only had the bare minimum standard options.
I went back to the dealer the next day and tried to get a cheaper used vehicle but they wouldn't work with me. They only agreed to fix the dent and scratches but that was it.
So here I am at Ripoffreport.com and I am stuck with a 400 dollar a month payment that I can't afford and now that I think of if, was probably only approved because the salesman "fudged" on my monthly salary for the loan application.