Complaint Review: TOYOTA NORTH HOLLYWOOD
TOYOTA NORTH HOLLYWOOD RIP-OFF , MISLEADING, FALSE INFORMATION , UNFAIR BUSINESS PRATICES, Internet
*UPDATE Employee: Information Provided Does Not Match Records
*Consumer Comment: You forgot to take into account the interest on the loan
*General Comment: What?
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 !!!!
This report was posted on Ripoff Report on 02/08/2013 11:17 AM and is a permanent record located here: http://www.ripoffreport.com/reports/toyota-north-hollywood/internet/toyota-north-hollywood-rip-off-misleading-false-information-unfair-business-pratices-1010923. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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