Ok. Me again. Some of you may remember from my past posts how I got a new job a couple months ago to help further my efforts to save up for my camaro, working a total of nearly 18 hours a day between 2 jobs with nearly no sleep. Well, my story took a strange and hideous twist that pains me so much to tell you all.
It all started back at the beginning of last summer when I fell in love with the Camaro and wanted one so badly that I would give up anything to have one. I have never financed a car on my own yet, just had older cars that were either passed down or given to me. The thought of having a camaro made me soooo excited. So I paid a local dealer a visit one day early last summer and talked with a salesman. it seemed to be possible to get one but I would need a downpayment. So I decided to start saving any money I could. So for nearly a year I have been saving like crazy for this car. I ordered it all up last fall october 31 and it was to be sent to gm and given the ok about 6 weeks before may 1 so that i could take delivery then. I even began looking for second jobs to work evenings or weekends to save even more money. I had almost 10k saved up already and was so excited when I found a second job a couple months ago where I'd be working for a few months from 4:30pm till 2 in the morning and having to be up at 7 again for my regular day job to work till 3:30pm. Those 10 hours in the evening seemed to fly by like a joke because the whole time I was thinking about being in that camaro may 1 and how exciting it was gonna be. I knew with my 2 jobs working like mad for these few months was surely gonna pay off when that massive downpayment I would have would make the payments much smaller and easy to swallow. Well, about 2 weeks ago I get a phone call from my dealer that the car came in early. they hadnt given GM the okay to start building yet but somehow they were clearing out orders or something and just went ahead and built and shipped it to my dealer. Ok, well, no biggie, the said they can store it free of charge.
So last saturday I went in to look at the car and take it for a test drive since I still wanted time to save up money plus wait till the snow melted some more. I get there and they pull me into the office and try to tell me that the bank probably wont approve me for the loan in 60 days so I should buy it now. I really didnt want to do that. I asked if I could wait and they tell me that id probably not get the loan approved and there was a good possibility I couldnt get the car by then. Well, I didnt know what to do. I didnt want to take the risk and miss out on my precious camaro that I had worked so hard for. Also they said the bank wouldnt approve me for the length of loan I wanted and it was shorter, making the payments higher than I planned.
Also they said the bank was stretching already to approve me and needed the car to have full warranty for at least 5 years, so I needed to also buy the extra 2 year warranty. Then they throw in a bunch of other fees that I hadnt been expecting and when it was all done, I was looking at 4k more than I was told back when I ordered.
I guess I was on the spot, and this being my first loan, I figured it should be ok, I can handle it anyway, and so I signed the papers and put down my 11k that I had been working all year to save up for. Voila, I own a new Camaro. But I didnt take delivery yet, I wanted the weather to clear up abit.
Then this past week I began figuring things out. When I finally had time to sit down and figure out how much he extra jump in payments was gonna affect me with the extra 4k I ended up paying plus the shorter loan term and early delivery, I realized that I have nearly no money left over each month and I dont know what the future years will hold for me. WHOAH!
I realized with the extra money I ended up having to pay, all of my hard work, 18 hours a day, really wasnt gonna help much and I cant afford the car now.
BUT WAIT!!! I ALREADY PAID FOR IT AND MY FIRST PAYMENT WILL BE HITTING MY BANK ACCOUNT IN 30 DAYS!!
But I remembered the 60 day gm return policy I signed. So this past saturday I headed back to the dealer to inquire about the return gaurantee thing. It was my only hope now of getting out. I get there and my salesman meets me and thinks I am there to pick up the car to take home. I tell him we need to talk. I told him that I ended up paying 4k more than the number we agreed on back in october when I ordered the car and I'm in a tight spot now because with the increased payments I really dont think I can afford the car anymore like i had planned. Keep in mind, it hasnt left the lot yet except for a short test drive. I ask how the return thing works, can I reverse the charges and they can just return my money and sell it as a new car since its still on the lot. No they cant just do that but that 60 day money back gaurantee is my only way out now. But as that plan states, you have to have the car between 30 and 60 days before you can return it. So he tells me that all I need to do is get it registered and insured for one month and make the one payment at the end of the month and then I can get my money back. I asked him a few times what ALL I will lose and he says JUST the one month insurance and one payment is all. But he says that I may as well take the car for the month and see what happens. I own it anyway. Just so long as I dont go over 4000 miles on it and dont damage it, I should get my money back at the end of the month. So I got it registered and took it home.
The drive home was one of the most amazing driving expieriences even though it was super foggy and cloudy out that day. The car handles like a dream. I feel like I am one with the car as I cruise down the highway. It feels so solid and yet so nimble and powerful, especially for a v6 engine. As I drove down the highway, a car passes me and i glance over and see a little boy with his face against the window of their van and his mouth open wide in awe as he stares at the car. At this point I dont care what anyone thinks anymore, I may own the car, but I know its too good to be true.
As I get ready for bed now, I am sort of looking forward to going to work tomorrow and taking the Camaro but I know everyone at work will be asking me about the car and they will be talking about it probably but to me its really not mine even though I officially own it right now. I am worried though, now just hoping that through all the fine print in that gm 60 day money back gaurantee, they end up not taking it back or else I end up losing thousands of dollars that I slaved so hard for nearly a year to earn.
It pains me to have to return my dream car in 30 days because I simply now can no longer afford it. I only wish they had kept the same price and payment plan that they told me when I ordered it. I guess I signed too soon thinking all will still be ok and I could still swing it no problem but it appears I cannot and now I want out.
This dream is now no dream at all but a nightmare and I still have a few months to go with my evening job. Those 18 hour days are gonna be like torture, having no exciting goal to work towards and keep my spirits up like it has been for the past couple months. Last friday, in fact, I left early from work. Told them I wasnt feeling well. Thinking about this whole situation I am in right now was making me so sick that I just couldnt bear to go on working till 2 in the morning. I broke down on the drive home that night just thinking about this stuation nonstop
Well, Thats my story. Thanks again to all you who have been excited with me and supporting me the past months with your encouraging words. I truly appreciate you all so much. You guys are awesome.
If someone knows anything about this 60 day money back gaurantee please tell me I can get out of this with minimal money loss. am I gonna lose out big time or is it truly a no risk deal like my sales guy and finance guy tells me? What happens to my extended warranty that I bought for 2 grand? can I get that back too somehow?