WWYD - Price of Car Changes After Purchase

[Anonymous]

I would've flipped out and returned the car if necessary.

[Anonymous]

Anonymous wrote:I'd keep the car and say you don't agree to the loan being adjusted. They can't legally just change the loan terms without your consent. They screw people over all the time, they can suck up $3,000. If it was so out of the ballpark, why did no one on their end notice it. If what they were trying to do was legal, they'd do that to people all the time.

Yeah, this, and I'd sue if they tried to come after me.

[Anonymous]

It was through the dealership, which is Ford. The dealership "did all the work" so no further action was needed. Besides paying the extra money over the life of the loan...

[Anonymous]

sorry, but the whole point of a purchase is that you've agreed upon a price.

WHen you buy a house, can the sellers come back after you've signed everything and say, whoops, the house actually cost 20k more. But dont worry, you can add 4 years to your mortgage and the payments wont change! ha.

[Anonymous]

They should have kept the car and not agreed to any changes to the loan. Once there’s a signed contract, the dealer is stuck. Sounds very shady to me. Will you share the name of the dealership,, to save us from bring similarly scammed?

[Anonymous]

Anonymous wrote:They should have kept the car and not agreed to any changes to the loan. Once there’s a signed contract, the dealer is stuck. Sounds very shady to me. Will you share the name of the dealership,, to save us from bring similarly scammed?

Koons Ford. The Yelp reviews are pretty horrific.

[Anonymous]

Anonymous wrote:They did not return it. According to them, they were able to clear up the price issue to their satisfaction but also said that it wasn't a problem because the payments were the same. Ultimately, the car is a lemon. It's on it's 3rd transmission (in 4 years)...

Come on, no one is this dumb.

[Anonymous]

NP At first glance it doesn't seem legal to change terms. But I remember signing a form that allows them to change terms if they find an error in their math. You sign the same thing with home purchases.

[Anonymous]

I guess the lesson here is -- don't finance with the dealership

[Anonymous]

Anonymous wrote:NP At first glance it doesn't seem legal to change terms. But I remember signing a form that allows them to change terms if they find an error in their math. You sign the same thing with home purchases.

A change to the price is not an error in math. It’s a scam. Thanks for sharing the name of the dealer, OP.

[Anonymous]

Anonymous wrote:That's super bogus.

Someone is either ignorant to feeding you BS. They have no legal basis to unilaterally change a signed and fully executed sales contract after the fact.

[Anonymous]

they should've gone to the media. seriously

[Anonymous]

Anonymous wrote:

Anonymous wrote:NP At first glance it doesn't seem legal to change terms. But I remember signing a form that allows them to change terms if they find an error in their math. You sign the same thing with home purchases.

A change to the price is not an error in math. It’s a scam. Thanks for sharing the name of the dealer, OP.

Sure, but it could be a typo, for example. I've never had it done to me though. We found that dealership racist to the point of hilarity- it was like a Key and Peele episode so we didn't do business with them.

[Anonymous]

Anonymous wrote:they should've gone to the media. seriously

You seem confused as to the purpose of the media.

[Anonymous]

Check your paperwork and you will probably find that you signed something that permits the dealer to change any errors, so what they did was probably allowable, although certainly not ethical. Imagine that you agreed on a price of $24,000, but when the clerk prepared the paperwork, it reflected a price of $22,000. You quickly sign the paperwork, thinking you got away with something, and the next day, the dealership realizes the mistake. You should in good faith accept that a mistake was made, and permit them to correct it. This is a perfect opportunity to ask for more free oil changes or something like that for your trouble.

There are some scams that arise though, such as the OP's example. Unscrupulous dealers will pull this kind of a stunt, telling you that a mistake was made, and hoping that you'll go for it since you are already committed to the sale. The only correct response is to tell them to pound sand.

The other scam is when you are conditionally approved for financing through the dealer, and after a few days, they call to say that you didn't qualify for the terms that they initially offered you. But lucky you, they've found another lender who will take the loan at a much higher rate. The story may or may not be true, but the easiest way to avoid this is to bring your own financing to the table. Get approved by your own bank or credit union in advance.