Smithtown Nissan unethical business practice ripoff Saint James New York

There was an antiquated NY State law (that was recently repealed) that stated that a victim in an accident could sue the owner of the vehicle regardless of who was driving. This opened up the leasing company to liability they were not willing to accept.

The reason that "Smart Buy" exists was to skirt the liability because without it no one in NY would be offered a "Lease".

In a "Buy" the purchaser pays all tax up front (not just tax on the lease value). The purchaser then "owns" the car and gets the benefit of cheap payments for the term of the contract. The last payment is a balloon, typically around 50% of the loan price.

My suggestion would be that you prepare yourself before you go to the dealer.

Before you walk in the door you should know;
- know their bottom line cost for the vehicle (including invoice, holdback, and incentives)
- know how much you can afford and are willing to pay (total, including tax)
- know the current loan rates (several banks plus the dealer offer)
- know the manufacturers current offers and which is better
- figure out what is cheapest for you (go to Microsoft Excel, type in "amorization", download the "loan calculator", input your costs and rates, and print pages 1-2 for a list of every payment) (sometimes 0% financing saves you more than the factory rebate and sometimes it doesn't)

You should not;
- believe the newspaper teasers with the fine print you cannot read
- judge the deal based on the monthly payment (that's how the subprime mess started) because at the end of the term if all those payments with interest equal $30,000.00 that's how much lighter your wallet is
- sign anything without reading and understanding it (make them give you a blank copy of the loan paperwork in advance if you have to)
- get suckered into an extended warranty or other dealer extras

Hi Khem, I have exact same experience with you. I tried to finance a Nissan car on Dec. last year. The same guys Stan and Joe also tricked us with a so called smart buy program which actually is a lease contract. Could you contact me? Maybe you can have experience on how to fight with such guys, thanks.

Alex,

Stony Brook, New York

On 9/11/07 we got Smithtown Nissan to cancel lease and put us in a car loan after days of arguing with them and them telling all sorts of stories regarding my 27k+ MSRP when the car sticker price was 21K.

We were assured by manager Joe Gumbman and finance guy Stan Sigerson (he's the one that screwed us over with lease) that the lease cancellation will be taken care of within 2 weeks and all we will have is the auto loan.

On November 1st I received a lease statement in the mail that I am now 3 months past due on my NMAC lease. I called NMAC and was told that they can't do anything about it because dealer never submitted paperwork. I have since paid off the car loan that was taken out on 9/11. Stan Sigerson is not returning my calls so I filed a complaint with Nissan North America and I am waiting for them to resolve this.
I have also filed a complaint with NY state attorney general's office for their unethical business practices.

Check this Chinese post on a bbs, he has the same experience as you with the same dealer. Ask a Chinese to translate the post for you. You may contact him to fight together. Good luck!

(((ROR REDACTED)))

Go to www.9news.com and type in the name ORNELAS and search the story that made the Front Page of the Denver Post on 5-19-2005 and watch the Video that made the 10 O'clock News on the #1 Most Watched News Station in Colorado, 9News!

A simple LETTER did all of that! I know this because I wrote that letter. Go to the RICHMOND TOYOTA story on the TOYOTA page of this site and go to the Rebuttals and send a copy of your ripoffreport to ALL News Stations listed!! You MUST do it NOW!!!! (9News, Dateline NBC, Fox 31 News, & 60 Minutes-do not delay, you must HURRY!!!)