Did I Really Sign This?
I Am Truly Embarrassed
This is an example in the car business where I will let you form your own opinion.
I am certain no one is against making a decent margin; but when does “decent” cross the line into being repugnant? At Discount Motor City, used car sales in Surrey, BC, with every car we sell, our goal is to make a decent margin, but take a look at the following example from another used car dealership and draw your own conclusion.
A Little Background
The purchase below is for a used 2019 Chevrolet Malibu, base model. The new price for a like vehicle is in the $25,000 range. On Craigslist, a similar used vehicle is selling for $21,845.
What This Lady Got Hit With
Vehicle Price: $29,815 – about $4,000 higher than the new vehicle price. And she bought a used car.
Documentation Fee: $997.00 and I thought $495 as excessive that I have seen some dealers charge.
Taxes: I will not go into detail, but they made a hidden amount of $635 on taxes by overcharging the customer by the way they wrote up the deal.
Finance, Contract & Registration Fee: On top of a Documentation Fee of $997? Just another way to grab money from an unsuspecting customer.
Repayment Schedule: Stretched out to Bi-weekly for seven years. I did the loan repayment schedule and suggest that the person is paying at least an additional $341.27 over the 7-year term. That may not seem like a lot, but it is still $341.27 extra into the used car dealer’s pocket – and hidden at that.
Seven Year Term: Who keeps a car for seven years? Maybe five years. If this person wants to trade the vehicle in after five years, there will still be $12,542 remaining to be paid on the vehicle. There is no way the trade-in value will come close to making up the difference, so get ready for a hefty bill at the end of five years. After six years, there will still be $6,271 to pay out.
At Discount Motor City, used car sales, Surrey, BC, we pride ourselves in being honest with our pricing and our presentations to our customers. We do not pull tricks to hide financial gains, and we certainly would have explained the facts about financing to a customer on something like this.
Discount Motor City, the Premier of Used Car Dealerships Surrey
At Discount Motor City, used Surrey, BC, we are as passionate about providing quality and accurate information, as we are about providing a pleasant and comfortable environment at a used car dealership Surrey. We want you to have all the information at your fingertips so you can make an informed decision.
We also guarantee "no push, no pressure" service, and you are more than welcome to browse our lot at 12882 King George Blvd., just across the Patullo Bridge on the Surrey side. And feel free to call Carlo at (604) 628 0400 for information about any of our used car sales Surrey, or if you have any questions about any vehicle matter.
Discount Motor City, used car sales, Surrey BC, is a family-owned and operated business. We not only work hard to earn your business but afterward, we provide what we believe to be the best in after-sales service, to keep your business.
Best wishes and happy motoring from all of us at Discount Motor City, one of the premier used car dealerships Surrey. And please, don’t get caught like this person on vehicle financing.