Car Market Crash Deal MEGATHREAD

[bjstare]

This quote is hidden because you are ignoring this member. Show Quote

So you're fucked in every way possible

If by "fucked in every way possible" you mean there's no shortcuts to weasel out of debt, then yes.

You could always claim bankruptcy.

[max_boost]

Always curious about that. Rage2 said appreciating assets in your name, depreciating assets in her name, let her rack up all the debt and then bang declare bankruptcy, win? Lol

[DonJuan]

This quote is hidden because you are ignoring this member. Show Quote

If by "fucked in every way possible" you mean there's no shortcuts to weasel out of debt, then yes.

Identify as FN, then everyone owes you.

[Xtrema]

This quote is hidden because you are ignoring this member. Show Quote

You could always claim bankruptcy.

That's a way out. Just make sure someone else can float your lifestyle for a few years and you are good.

[pheoxs]

Only 292 a week, and after 60k in payments you still owe over half the vehicles value to keep it thanks to 7+% interest rate.

Also no taxes or delivery included.

Also its a demo model and not new new.

[killramos]

This quote is hidden because you are ignoring this member. Show Quote

Only 292 a week, and after 60k in payments you still owe over half the vehicles value to keep it thanks to 7+% interest rate.

Also no taxes or delivery included.

Also its a demo model and not new new.

Like anyone buying a Velar would dare be seen in a car over 4 years old anyway.

The residual on that thing might as well be $0

[littledan]

velar is the shittiest range rover besides the evoque. In fact, both of those cars should not carry the range rover badge. blech. how embarrassing to show up at the land rover dealer in an evoque. might as well fly flair to your vacation home in scottsdale.

[killramos]

This quote is hidden because you are ignoring this member. Show Quote

velar is the shittiest range rover besides the evoque. In fact, both of those cars should not carry the range rover badge. blech. how embarrassing to show up at the land rover dealer in an evoque. might as well fly flair to your vacation home in Peoria.

ftfy

[shakalaka]

A client of mine got duped by one of the dealers recently; story goes they advertise .99% financing, the guy tells him x-price for the vehicle (56K), the client says I want the .99% financing deal and they say no problem, the client does not speak or understands English very well so signs off on the paperwork and gives 2K down. Goes him with paperwork and shows to a literate friend who sees the price of the vehicle is actually 86K and not what the 56K client was told.

They get shocked and call the dealer and they are like well we told you if you want .99% then that is the price and the 56K price is at 7% or 8% or whatever. We told you this, you knew this, you signed the contract and financing has been approved so you have to buy the car or we will just drop it off at your location and take monthly payments anyway. So basically they are now forcing him to buy the car at that price. I don't know which dealer in town but it's a Mitsubishi dealer and that pricing is on a fucking Outlander!

What a fucking shady and shitty practice these dealers are pulling. Theoretically he's in a legally binding contract as he did sign - he'd likely have to claim misrepresentation and/or fraud to try and defend something like that.

But non-legally speaking I wonder if the dealership will actually pursue anything if the guy just doesn't collect the car and has never had it registered or insured to him and empties and closes his bank account. haha.

[ThePenIsMightier]

The fact that they refuse to veto the deal demonstrates that they sold it for an exorbitant, inflated price. If it sold for fair market value, they wouldn't have a problem finding a new buyer within a week.
Isn't that somehow part of the Reasonable Person Test?

[ExtraSlow]

Reasonable persons are not welcome at this dealership.

[ercchry]

I’m not the lawyer.. but isn’t that covered under this?

https://www.alberta.ca/consumer-bill-of-rights.aspx

Edit: huh, apparently auto sales are exempt? That’s wild

[shakalaka]

Yea it's not really my area of practice so I will probably refer him to another associate at the office, but just goes to show how fucking shady and low dealerships are. Not that we didn't already know that.

[SilverRex]

This quote is hidden because you are ignoring this member. Show Quote

Yea it's not really my area of practice so I will probably refer him to another associate at the office, but just goes to show how fucking shady and low dealerships are. Not that we didn't already know that.

having auto salesman with high overturn rate for employment in this industry also doesnt help as there are no recourse and no loyalty what so ever, everyone is for themselves.

[jutes]

This quote is hidden because you are ignoring this member. Show Quote

the client does not speak or understands English very well so signs off on the paperwork and gives 2K down.

Welcome to Canada, we speak English here. Should've brought someone with him to translate.

Dealers are still crooks no question.

[2Legit2Quit]

$86k for a Mitsu Outlander? wat.

I've had dealers dance around .99% financing in regard to you can get that rate only if you accept this price, if you want a lower price then you're going to get 2%+ rates, but obviously rates are much higher these days

It's all smoke and mirrors as per usual dealer practices, if they aren't getting their kick back from whatever financing deal they have lined up with the lender then they'll get their $ another way.

[Xtrema]

This quote is hidden because you are ignoring this member. Show Quote

A client of mine got duped by one of the dealers recently; story goes they advertise .99% financing, the guy tells him x-price for the vehicle (56K), the client says I want the .99% financing deal and they say no problem, the client does not speak or understands English very well so signs off on the paperwork and gives 2K down. Goes him with paperwork and shows to a literate friend who sees the price of the vehicle is actually 86K and not what the 56K client was told.

They get shocked and call the dealer and they are like well we told you if you want .99% then that is the price and the 56K price is at 7% or 8% or whatever. We told you this, you knew this, you signed the contract and financing has been approved so you have to buy the car or we will just drop it off at your location and take monthly payments anyway. So basically they are now forcing him to buy the car at that price. I don't know which dealer in town but it's a Mitsubishi dealer and that pricing is on a fucking Outlander!

What a fucking shady and shitty practice these dealers are pulling. Theoretically he's in a legally binding contract as he did sign - he'd likely have to claim misrepresentation and/or fraud to try and defend something like that.

But non-legally speaking I wonder if the dealership will actually pursue anything if the guy just doesn't collect the car and has never had it registered or insured to him and empties and closes his bank account. haha.

Non English speaking client and shady deal? Sounds like Platinum who wants $78K for the new Outlander PHEV.

This quote is hidden because you are ignoring this member. Show Quote

$86k for a Mitsu Outlander? wat.

It's in line of what they charge for PHEV version. Mark up they want was outrageous. If they got a normal Outlander for $80K+, RIP.

Jeep GC is the one with the best deal right now if I'm paying anywhere close to $80k. 0% for 60 months.

[msommers]

The dealer here is obviously shady as fuck.

But even if the customer is ESL, shouldn't a number value of $56,000 on a contract vs. $86,000 be something you double-check?

[ThePenIsMightier]

Buying a new car sounds great. It's important to me to have the reliability of a brand new car every 1-2 years because 60 years ago, if your car broke down, you were fuck.
It's the same now. No, cell phones and urban living and prevalent tow trucks have not helped.
It's worth it to purchase new and from dealerships.

[jutes]

This quote is hidden because you are ignoring this member. Show Quote

The dealer here is obviously shady as fuck.

But even if the customer is ESL, shouldn't a number value of $56,000 on a contract vs. $86,000 be something you double-check?

The language of math is universal.