Shelly BMW ,Buena Park, Deceptive practices Buena Park California

 Hello,

If you ever purchased a car, you know the 2 to 3 hour negotiation process. The sales person and sales manager and I went back and forth with figures WRITTEN DOWN on what looks like a piece of scrap paper. In a nut shell we agreed on a $12,000 down payment and 60 monthly payments of $585.00. . . . period. It was sometime later when I found out, in addition to my $12,000 down payment I also had a $12,000 balloon payment after paying for 5 years.

I agree, I was stupid to TRUST Shelly BMW would use the same figures we discused "on paper" for 3 hours when I sat in the finance managers office. It was unrealistic to believe Shelly BMW is an HONORABLE business. I should have known Shelly BMW staff and managment are NOT MEN OF THEIR WORD. I work in an industry where your word is your bond. My mistake, I won't make again.  

Being "tricked" would be them changing the numbers after you signed it.  Being "tricked" would be having them forge your signature.   Being "tricked" is NOT having your payments disclosed in writing and you choosing not to read it.

Oh and the finance terms were not on 20 pages..they are on ONE page very clearly laid out on the Truth in Lending Disclosure which specifies very simply the amount you are putting down, the payments, interest rate, length of the loan and any "balloon" payments.

Oh and no I do not work for this or any car dealer.

ONLY an absolute dummy would agree to financial terms and conditions WITHOUT reading what those terms and conditions are!  The salesman isn't obligating you...YOU ARE!  Anybody with half a brain knows about the games car salesmen sometime play.  That's why people need to be SMART CONSUMERS and READ what they are about to sign BEFORE they sign it!  What any salesman says doesn't govern the terms of a contract.  Its what those written terms are which governs it!  Go ahead get mad.  Maybe you'll remember this before you do something equally as dumb all for a stupid car.

Since the rates are low now and your vehicle is newer, better to refinance now than to wait too long so the vehicle doesn't get beyond the milage or age range. It's a shame that you didn't notice before now, or you could have refinanced right away and the dealer would lose his finance bonus. Check your local credit union right away

I don't know your specific dealership, but that bait and switch type contract is common in many auto dealerships. For the future, don't let the dealer finance you. Go in with your own financing from a credit union. That way it is impossible for them to pull the rug out from under you. Good luck.