mark1107

Everyone,

I need everyones opinion on this:

On Wednesday last week I went to a local Los Angeles Delership and I
traded in my 01 green convertible C5. It had every option but the magnetic selct ride control. It had 71k miles on it. They bought it for $21,600 I know I lost thousands on it but I was happy to just be done with it. It needed tires. The wheels had curb rash, and the paint was below average with knicks and scratches. The drivers seat was torn and the carpet was stained, so I think I got a fair deal for her.

I then bought from the same dealer a 06 C6 w/GMS supplier pricing.
I got the F55 tour/sport suspension, navigation, HUD, heated seats, XM radio, onstar, see through glass roof panel, automatic, chrome high polished upgraded wheels. The only thing my C6 does not have is is the Z51 package. Here is the interesting part: They quoted me a price of $50,364.00 over the phone. I was happy they are one of the few dealers that accepted the GMS pricing. When the deal was done they sold me the car for $48,000 even! The MSRP was $56,300.

The internet sales manager called me Friday night and said he was in hot water and I needed to call him ASAP. (I was in Vegas with my girlffriend having a blast in my new C6.) He then called me once on my cell phone and home phone on Saturday saying he really needed to talk to me.

What happened is the Internet sales manager had a famly emergency and gave the deal to a regular salesman to do. The regular salesman put in the wrong price for the car. When I called the Int. Sales mgr he said he wants me to come into the dealership tomorrow (Monday 1/30)
and negotiate the other $2364.00 that he says I owe. Here are the facts:

1. The salesman who handled my deal was fired.
2. The sales manager that okayed the deal was fired.
3. He does not expect me to pay the full $2364.00
4. I got an interest rate of 7.25% on 72 months with an average FICO score above 740. I put down $9000 including my equity on my old C5 Vert.
5. He may be able to get me an interest rate at 6.25%
6. He would throw in huge discounts on extended warranty and low jack and another company that is similar to low jack.
7. I have a signed contract called a "RETAIL INSTALLMENT SALE CONTRACT / SIMPLE INTEREST FINANCE CHARGE FORM NO. 553-CA-ARB
8. There is a 10-day right of recission only on the dealers part if they cannot assign my loan to a bank.
9. The difference in 1% in the interest rate over a 6 year loan is about $1800.00 (Since I have great credit and more cash in the bank, maybe I could get a better interest rate on my own and come out ahead.)
10. On one hand I do have the money and I can afford to pay them. Especially since I couldn't locate any dealers in LA, CA that would honor GMS pricing. The Int. Sales Mgr. is a nice guy and he was very apologetic and "wants to work this out with me" especially since I agreed over the phone to buy the car at GMS pricing of $50,364 (which is still a very good deal.)
11. My attorney friend in LA who will represent me for free, said that he is going to review the conntract in the morning BEFORE I go to the dealership and just over the phone said typically the dealer is screwed on this and I dont owe them a dime.
12. The dealer does owe me a new glass roof panel since this one has a small 3 inch very unnoticeable scratch that I got in writing for them to replace. So I need to deal with the dealership in the future.
13. I have screwed up in my own life at work and I have learned the most professionally from my mistakes and I appreciated everyone who ever gave me a second chance. So I do not want to take the attitude like "Go F___K yourself dealer -especially since you have screwed others." SINCE I live my life like I want others to treat me. What comes around, goes around.
14. Lastly I am upset they want me to come in and write them another check for ANY amount of money since I am happy with my deal as is.
15. I put $9000 down and with tax title and license I financed $43K at 72 months at 753.00 a month. That is a general average of my deal.

16. Now that I have bared my soul in a very public forum any sincere comments would be helpful before I go back to the dealership. I will not name the dealership since this could get ugly and it is nt fair to them or me. SO DONT ASK.

17. A satisfied DSOM C6 F55 Auto Navigation happy owner who does not want to loose his car.

Mark

SteveM10

I had almost the same experience with a Nissan dealer when I bought a 350Z. The only reason I ended up working a deal with them was that they threatened to hold up the registration process and when my 30 day tags ran out I would not have been able to drive it. So it was either give in and work a deal or fight them in court. (They also threatened me with legal action even though it was THEIR fault.) F-ing dealers.

If they have nothing to hold over your head you DO NOT HAVE TO NEGOTIATE with them. You have a legal binding contract and they have to eat their losses. Its really up to you how you want to handle it. I say its their loss.

TMyers

Well you still nee to work with them to clear up you scatched top I would work with them. IF you don't they may never work with you in the future so your GMS may never work again there.

IF they get you a better interest rate it would be worth it. I'm only at 6.25 and my FICO is much lower than yours. See what kind off deal they are willing to work. I can't hurt.

C7 BOB

Since the deal is much better than you expected, and the amount they want is less than $2364, I think you should listen to their offer. Tell them you will give $1000, if you get the better rate, and everyone will be happy. I've found it's better to give a little, to keep good relations, if you plan to go back for warranty and repair work.

FAsnakes

In all sincerity, I would tell them to pound sand. In perspective the amount is nominal, certainly not enough to disturb you while your on vacation (or just sitting around the house for that matter) especially with the urgency of someone trying to retain their job. This is actually an excellent training experience for them (some might consider it to be invaluable). Why are you responsible for a mistake they made? It's amazing how their focus is off. I don't see what the big deal is, most reputable dealerships will accept ownership and move on. One of their employees set an expectation with you, you signed a contract, done deal.

Not to sound insensitive but it's not your problem. Why does is take an error on their end in order for them to sweeten the deal? This crap should have been offered initially.

I would tell them, I'm sorry and refuse to sign another contract. Just play it by ear and see what they come back with. I just think it's distasteful that they are trying to nickel and dime you. I'm sorry but if you don't want to get ripped off you're going to have to embrace the "Go F__K yourself" attitude. I'm trying to understand how the ISM is saying you owe an amount of money. Frankly it's upsetting. Also your getting ripped off on your APR. I just purchased my C6 about a month ago. It was funded by WESCOM credit union (anyone can join). They offer 5.9 (5.25 with auto payment) and a term of up to 84 months. Save yourself some more money and get your own financing.

Good luck with you decision and keep us posted.

yonglvnv

Yeah, it's a first for me to finally seeing a dealer squirming for once.

You, my friend, are in a real moral dilemma. Me, personally, deal is a deal, the original price was something that was agreed on by both. I do think they did screw you with that high a interest rate, my fico is few points less than you and got much lower rate. In your case, by doing the right thing, you will come out ahead in the long run and smelling like roses. With lower rate, by the way, get it in writing before finalizing the new deal, and a new roof, also get it in writing again, it's almost a wash in the long run for you. Review the final contract before signing to make sure no additional hidden fees are added on. if the situation was reversed, I doubt they would do the right thing, and I believe that; but, at least you'll sleep better, knowing you did the right thing. Just my opinion.

mark1107

I just applied for a WESCOM checking account and I am calling them first thing in the morning to open a loan. If I can get 5.25% my $753 payment drops to $713 a month.

Thank you everyone so far. I appreciate all of the help.

Mark

PS I will keep everyone posted.

Jagcvette

I would stick with the deal that you have and expect them to honor every part of it. If they gave you a lower price then what they intended on giving, that was their decision and that's too bad for them. They are a dealership and make tons of money. They didn't feel too bad about firing 2 people who now don't have income coming home so I wouldn't exactly feel bad for them. Don't let them try and strong arm you either. You have now driven the car so there is no way they will want to take it back and have to sell it as a used car. I agree that you should do what is morally correct, but I don't see a moral dilemma here. You and the dealership honestly entered into a deal and that's that. Ask them if they want to renegotiate your trade-in because you just realized that its worth then what they gave you. They will laugh you out of the building.

Z06 L GO

Your point 13 also speaks to this. Sounds like it was a "real or legit" mistake. Doing the right thing is never the wrong choice...makes no difference what the other guy does, in this case the dealer. Just the fact that you mentioned or asked questions about it HERE on the forum, you will probably come up with big savings on interest rates. Who knows what will/could happen in the future with the ISM(dealer). Good karma is harder to earn than bad karma.

Corvette SSX

I look at it this way. Did the dealership, in the past, renegotiate the deals where they screwed the customers after the customers got mad and wanted relief? I doubt it. As you said, what goes around comes around and this time it came around for the dealer.

As far as the scratched top goes, the dealer is under no obligation to replace it, GM is, especially if you have a document from the purchasing dealer stating that it was bad at the time of delivery.

I wouldn't give a second thought to giving the dealer another penney. Don't do it.

Another Yellow

I don't see why anyone would be fired over a mistake that might be corrected.

I recently received two $750 credits on my Cingular wireless account for deposits that I did not make a year ago when I got the phones. I notified them of the error and asked them to take the money back.

The right thing to do would be to pay the difference if the original GMS price was correct.

Frank

gota07

You had a verbal agreement on the original price, but it was their error that resulted in the price on the contract. That's a tough one. There's a fine line between what's legal and what's right in this case. In the interest of good relations, especially if you plan to use this dealer as your main source of service, I would renegotiate the contract, but due to the error being theirs, I would start of offering to make up half the difference between the two prices and see where that leads.

Good luck

Z06 L GO

Yes and IMO if you play hardball, which you probably could legally, the "next time" it will be coming around for you again. ..what goes around comes around. Sounds like the dealer already said he would be happy with a compromise.

6speedC6

sounds like an honest mistake. I too don't know why people were fired over an error. Even adding the 2K seems like you got a great deal.

2bubbas

I'm almost choking on these words but I feel sorry for the salesman and the sales manager that lost their jobs over this.

Finance on your own. I refinanced after finding out what was out there in the private sector. Got 4.75%

not08crmanymore

With a FICO score of 740 or above,the dealer can get you a preffered rate,which means whatever the banks best rate is,he can knock off another 1/4 to 1/2 point,WITHOUT breaking a sweat.I delivered a new car the other day and the rate was 4.99% for 48 months.The regular rate was 5.25,but the guy scored 8 something so he got the preffered rate.Now,at 72 months,the rate does go up a little,but at most you should only be in the 6's for a rate.As far as the money,well,if they were on the up and up and somebody made an HONEST mistake,the go work it out.good luck.

Grumpy

would they call you back if they had charged you more than what they said they would?? What's on the papers folks signed should be the price..

serendipity

Your FICO score is great and your interest rate is terrible. The dealership put the screws to you betting that you would be an uninformed buyer. You were. I say screw them. They could have EASILY gotten you a better rate, but they wanted the easy money.

I'm 99% sure the "10 day recission period" is bunk. If they sell you a car, they can't claim that they couldn't find a financing company and ask you to renegotiate.

ben dover

I agree and I'd look at better financing. They will make much more than the $2500 on your trade. There are lots of dealers for warranty work.

Miaugi

Do what you think is right, no matter which way you go, I for one won't be judging you!