RETURNING CAMARO BOUGHT SUNDAY - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

FAST4CHEAP · 08-11-2015, 09:12 AM

AFTER REVIEWING THE CONTRACT I SIGNED; I REALIZED I WAS NOT AS SMART AS I THOUGHT I WAS.

MUST GO BACK ASAP
IN THE OFFICE WITH SALESMAN (WHITE) PAPER SAID 23, WITH TAX AND LICENSING,GAP+TINT.

IN THE FINANCE ROOM THE YELLOW PAPER STARTS AT 22 NO,TAX, LICENSING, OR GAP. THAN ADDED 5YR 100K MILES SERVICE PLAN AND ALARM = =====
29K WTF!

29K - 3K (DOWNPAYMENT GM/ CHEVROLET INCENTIVES) NO CASH BACK!!
=====26K WTF!

REAL Mad right now

I need some more advice. please help ninjas!

**I have 3 day cooling off period whether I bought it or not.(returning)
**need pre-sale history of car.

my credit score was 750+ now its like 650 wtf!!

nyrfan · 08-11-2015, 09:18 AM

Not sure what advise you want. You signed a contract (with the finance guy) with the prices listed out, not sure you can get out of that. The salesman's offer sheet WAS NOT a contract. You can certainly cancel the EW, that will save you some money.

Finance guys talk quick and you obviously agreed to some extras that they sell in the closing minutes of the car. Like I said cancel the warranty, that will save you some $$.

And where are you getting there is a 3 day cooling off period?

And I do credit for a living, there is no way your credit would go down 100 points from this. Either you were not at 750 or your not at 650 now.

bsmith · 08-11-2015, 09:34 AM

Do you make a habit of signing things without reading? :willy:

pickwithaustin · 08-11-2015, 09:45 AM

Almost none of that makes sense.
Could be why you didn't know what you were signing up for.

Mels RS · 08-11-2015, 09:59 AM

Before going to the dealership, I have my "max price I'm willing to pay".
All of my negotiations are based on "drive away price".

When I go in to meet with the financial wizard, the first thing I say is, "At the first mention of extended warranty, I get up and walk." That's the end of that.

They are always patient when I insist on reading paperwork and refuse to sign anything not completely filled out.

Been doing this for a almost 50 years. First new car purchase was 1966 El Camino. Second was 1967 Camaro RS convertible.

MrChrisLS3 · 08-11-2015, 10:15 AM

I have two questions.

1) Do you like the car?
2) Can you make the payment?

If the answer to both of these questions is yes, than don't worry about it. You aren't the first and won;t be the last to walk out of a finance office feeling a little "taken advantage of". Consider it the price of education which will come in handy when you buy that new Corvette next time around.

I don't know about the 3 day thing. Some states may have that for automobiles, but all I've ever seen is that once it goes off the lot, it's done.

So my advice, enjoy your new Camaro.

kmarshall2121 · 08-11-2015, 10:26 AM

Quote:

Originally Posted by FAST4CHEAP

AFTER REVIEWING THE CONTRACT I SIGNED; I REALIZED I WAS NOT AS SMART AS I THOUGHT I WAS.

MUST GO BACK ASAP
IN THE OFFICE WITH SALESMAN (WHITE) PAPER SAID 23, WITH TAX AND LICENSING,GAP+TINT.

IN THE FINANCE ROOM THE YELLOW PAPER STARTS AT 22 NO,TAX, LICENSING, OR GAP. THAN ADDED 5YR 100K MILES SERVICE PLAN AND ALARM = =====
29K WTF!

29K - 3K (DOWNPAYMENT GM/ CHEVROLET INCENTIVES) NO CASH BACK!!
=====26K WTF!

REAL Mad right now

I need some more advice. please help ninjas!

**I have 3 day cooling off period whether I bought it or not.(returning)
**need pre-sale history of car.

my credit score was 750+ now its like 650 wtf!!

Maybe OP just has a problem with WHITE salesmen?!?

kmarshall2121 · 08-11-2015, 10:35 AM

from the California DMV website: Good luck...

Cancellation Option Specifics
The following indicates how much you can expect to pay if you choose to purchase the Contract Cancellation Option Agreement:

$75 for a vehicle costing $5,000 or less.
$150 for a vehicle costing more than $5,000, but not more than $10,000.
$250 for a vehicle costing more than $10,000, but not more than $30,000.
One percent of the purchase price for a vehicle costing more than $30,000, but less than $40,000.
If you choose to return the vehicle, within the time specified, the dealer can charge a maximum restocking fee of:

$175 for a vehicle costing $5,000 or less.
$350 for a vehicle costing more than $5,000, but less than $10,000.
$500 for a vehicle costing $10,000 but less than $40,000.
Note: The fee paid for the Contract Cancellation Option Agreement is nonrefundable; however, if the dealer charges a restocking fee then the dealer must deduct the paid Contract Cancellation Option Agreement Fee from the restocking fee. If the dealer did not charge for the Contract Cancellation Option Agreement and has sold or transferred title of the vehicle that the buyer used as a down payment or trade-in, the fair market value or value stated in the sales contract must be refunded, whichever is greater.

Returning a Vehicle Using the Contract Cancellation Option Agreement

The buyer must return the vehicle:

To the dealer where purchased by close of business within two days, or within the time-frame allowed by the contract.
Without exceeding the miles permitted by the contract.
With all original receipts of the sales and Contract Cancellation Option Agreement.
In the same condition as it was received, except for reasonable wear and tear and any defects or mechanical problems occurring after the buyer takes possession of the vehicle.
Free of all liens and encumbrances, other than any lien or encumbrance created by the sales contract.

mr02Z/28 · 08-11-2015, 10:44 AM

Maybe that's why he has a Credit Rating of only "650", I think he needs to pay more attention as to what he is doing ...... Maybe they quoted him a better deal before they looked into his Credit Score and then realized he is a Risk ,,,,

WoodBoss · 08-11-2015, 10:45 AM

When you buy a car at a dealership you must be very, very careful to know the price of the vehicle, tax, tag, doc and title fee. Read & Understand everything. If you are getting a loan run the numbers yourself (there are many loan calculators available). I don't ever buy any kind of a warranty. If I feel the vehicle I am buying new or used needs a warranty bought by me I don't buy it. I have never bought any warranty or extended warranty. Not everyone has to do what I do but it has worked for me. I am a god mechanic and can figure out and fix anything electronics included. I never buy any dealer installed options either, they are just too expensive and I would rather do without or buy externally. I don't buy gap insurance either, if I need that I feel I didn't get a good enough price on the car. Then again it has taken many years to feel comfortable with this approach.

trashmanssd · 08-11-2015, 10:54 AM

I have reached the point where I can save up and pay cash for a car. While the 0%-2.9% loans are nice it leaves you trying to figure out on enemy grounds under fire if the payments come out to the total you agreed on or if they are trying to hide stuff. When you go in with a personal check and ask for the total to put on it there is no hiding stuff Price + tax and title - Trade in (if you have one) = Check amount.

Also the amount paper work is way less, I think on my last car it was down to 3 or 4 documents and they were simple ones not the 10 page loan documents with signatures every where.

mr02Z/28 · 08-11-2015, 10:57 AM

My thought is he hurried to buy the car, never knew what his Credit Score was and now he is paying more due to his Low Credit Score when the dealership actually pulled his Credit Rating .....

kmarshall2121 · 08-11-2015, 11:09 AM

Quote:

Originally Posted by WoodBoss

When you buy a car at a dealership you must be very, very careful to know the price of the vehicle, tax, tag, doc and title fee. Read & Understand everything. If you are getting a loan run the numbers yourself (there are many loan calculators available). I don't ever buy any kind of a warranty. If I feel the vehicle I am buying new or used needs a warranty bought by me I don't buy it. I have never bought any warranty or extended warranty. Not everyone has to do what I do but it has worked for me. I am a god mechanic and can figure out and fix anything electronics included. I never buy any dealer installed options either, they are just too expensive and I would rather do without or buy externally. Then again it has taken many years to feel comfortable with this approach.

a 'god' mechanic? that has to be better than a certified mechanic, correct??? LOL.....

DeanH · 08-11-2015, 12:15 PM

When I bought mine out of state. I walked in with the check from State Farm made out to the agreed upon price (Car Only). no way for anything to be "hidden". Worked out much better than the going through the Finance Manager chamber of horrors and confusion.

08-11-2015, 09:12 AM	#1
FAST4CHEAP Drives: [url=https://flic.kr/p/yeRLBs][img] Join Date: Jul 2015 Location: RIVERSIDE Posts: 43	RETURNING CAMARO BOUGHT SUNDAY AFTER REVIEWING THE CONTRACT I SIGNED; I REALIZED I WAS NOT AS SMART AS I THOUGHT I WAS. MUST GO BACK ASAP IN THE OFFICE WITH SALESMAN (WHITE) PAPER SAID 23, WITH TAX AND LICENSING,GAP+TINT. IN THE FINANCE ROOM THE YELLOW PAPER STARTS AT 22 NO,TAX, LICENSING, OR GAP. THAN ADDED 5YR 100K MILES SERVICE PLAN AND ALARM = ===== 29K WTF! 29K - 3K (DOWNPAYMENT GM/ CHEVROLET INCENTIVES) NO CASH BACK!! =====26K WTF! REAL Mad right now I need some more advice. please help ninjas! I have 3 day cooling off period whether I bought it or not.(returning) need pre-sale history of car. my credit score was 750+ now its like 650 wtf!!

08-11-2015, 09:18 AM	#2
nyrfan Let's go Rangers! Drives: 13' AGM 2SS/RS L99 Join Date: Jun 2011 Location: Orlando, FL Posts: 10,742 View My Garage	Not sure what advise you want. You signed a contract (with the finance guy) with the prices listed out, not sure you can get out of that. The salesman's offer sheet WAS NOT a contract. You can certainly cancel the EW, that will save you some money. Finance guys talk quick and you obviously agreed to some extras that they sell in the closing minutes of the car. Like I said cancel the warranty, that will save you some $$. And where are you getting there is a 3 day cooling off period? And I do credit for a living, there is no way your credit would go down 100 points from this. Either you were not at 750 or your not at 650 now. __________________ Soprano 4/1/00-6/14/11, Gone but NEVER forgotten! FSP tuned: 377/389 Last edited by nyrfan; 08-11-2015 at 10:05 AM.

08-11-2015, 09:45 AM	#4
pickwithaustin Drives: 2011 Camaro 2SS/RS Convertible and: Join Date: May 2014 Location: Central Texas Posts: 1,863	Almost none of that makes sense. Could be why you didn't know what you were signing up for. __________________ --------------------------- Currently in my Garage: 2011 Camaro 2SS/RS Convertible \| 1980 Corvette Stingray \| 1981 Firebird \| 1968 El Camino \| 2007 Crown Vic Police Interceptor \| 2001 Silverado \| 2001 Blazer \| 1965 Chevy C-10 \| 2007 Harley Softail Custom \| 2013 MX-5 in Copper Red Mica \| 2000 Corvette Convertible \| 2010 Corvette Grand Sport \| 2006 Audi A3 Turbo \| 2008 BMW 328i

08-11-2015, 09:59 AM	#5
Mels RS Drives: 2015 2LT/RS Vert Join Date: Mar 2015 Location: Dallas Area Posts: 300	Before going to the dealership, I have my "max price I'm willing to pay". All of my negotiations are based on "drive away price". When I go in to meet with the financial wizard, the first thing I say is, "At the first mention of extended warranty, I get up and walk." That's the end of that. They are always patient when I insist on reading paperwork and refuse to sign anything not completely filled out. Been doing this for a almost 50 years. First new car purchase was 1966 El Camino. Second was 1967 Camaro RS convertible. __________________ Mel 2015 2LT/RS 'Vert, RRM/Blk Designated Airworthiness Inspector; specializing in Amateur-Built and Light-Sport Aircraft. USAF Vet. <n168tx(at)flytx.net> Last edited by Mels RS; 08-11-2015 at 02:15 PM.

08-11-2015, 10:45 AM	#10
WoodBoss "Old School" Drives: 2010 2SS L99 Join Date: Apr 2015 Location: Sherrills Ford, NC Posts: 1,294	When you buy a car at a dealership you must be very, very careful to know the price of the vehicle, tax, tag, doc and title fee. Read & Understand everything. If you are getting a loan run the numbers yourself (there are many loan calculators available). I don't ever buy any kind of a warranty. If I feel the vehicle I am buying new or used needs a warranty bought by me I don't buy it. I have never bought any warranty or extended warranty. Not everyone has to do what I do but it has worked for me. I am a god mechanic and can figure out and fix anything electronics included. I never buy any dealer installed options either, they are just too expensive and I would rather do without or buy externally. I don't buy gap insurance either, if I need that I feel I didn't get a good enough price on the car. Then again it has taken many years to feel comfortable with this approach. Last edited by WoodBoss; 08-11-2015 at 12:45 PM.

08-11-2015, 09:34 AM	#3
bsmith Drives: 2011 2SS/RS Join Date: Jul 2015 Location: Nebraska Posts: 26	Do you make a habit of signing things without reading? :willy:

08-11-2015, 10:15 AM	#6
MrChrisLS3 Drives: 2018 1SS M6 Join Date: Nov 2014 Location: Houston Posts: 2,617	I have two questions. 1) Do you like the car? 2) Can you make the payment? If the answer to both of these questions is yes, than don't worry about it. You aren't the first and won;t be the last to walk out of a finance office feeling a little "taken advantage of". Consider it the price of education which will come in handy when you buy that new Corvette next time around. I don't know about the 3 day thing. Some states may have that for automobiles, but all I've ever seen is that once it goes off the lot, it's done. So my advice, enjoy your new Camaro.

08-11-2015, 10:35 AM	#8
kmarshall2121 Drives: 2012 45th Anniversary Edition Join Date: Aug 2012 Location: San Diego, CA Posts: 1,618 View My Garage	from the California DMV website: Good luck... Cancellation Option Specifics The following indicates how much you can expect to pay if you choose to purchase the Contract Cancellation Option Agreement: $75 for a vehicle costing $5,000 or less. $150 for a vehicle costing more than $5,000, but not more than $10,000. $250 for a vehicle costing more than $10,000, but not more than $30,000. One percent of the purchase price for a vehicle costing more than $30,000, but less than $40,000. If you choose to return the vehicle, within the time specified, the dealer can charge a maximum restocking fee of: $175 for a vehicle costing $5,000 or less. $350 for a vehicle costing more than $5,000, but less than $10,000. $500 for a vehicle costing $10,000 but less than $40,000. Note: The fee paid for the Contract Cancellation Option Agreement is nonrefundable; however, if the dealer charges a restocking fee then the dealer must deduct the paid Contract Cancellation Option Agreement Fee from the restocking fee. If the dealer did not charge for the Contract Cancellation Option Agreement and has sold or transferred title of the vehicle that the buyer used as a down payment or trade-in, the fair market value or value stated in the sales contract must be refunded, whichever is greater. Returning a Vehicle Using the Contract Cancellation Option Agreement The buyer must return the vehicle: To the dealer where purchased by close of business within two days, or within the time-frame allowed by the contract. Without exceeding the miles permitted by the contract. With all original receipts of the sales and Contract Cancellation Option Agreement. In the same condition as it was received, except for reasonable wear and tear and any defects or mechanical problems occurring after the buyer takes possession of the vehicle. Free of all liens and encumbrances, other than any lien or encumbrance created by the sales contract.

08-11-2015, 10:44 AM	#9
mr02Z/28 Drives: 2002 Z/28,1968 Chevelle convert. Join Date: Oct 2010 Location: Phila.,PA Posts: 1,137 View My Garage	Maybe that's why he has a Credit Rating of only "650", I think he needs to pay more attention as to what he is doing ...... Maybe they quoted him a better deal before they looked into his Credit Score and then realized he is a Risk ,,,,

08-11-2015, 10:54 AM	#11
trashmanssd Drives: Black 14 2SS/1LE/RS 14 Tundra Join Date: Dec 2013 Location: Plymouth, Ma Posts: 2,414	I have reached the point where I can save up and pay cash for a car. While the 0%-2.9% loans are nice it leaves you trying to figure out on enemy grounds under fire if the payments come out to the total you agreed on or if they are trying to hide stuff. When you go in with a personal check and ask for the total to put on it there is no hiding stuff Price + tax and title - Trade in (if you have one) = Check amount. Also the amount paper work is way less, I think on my last car it was down to 3 or 4 documents and they were simple ones not the 10 page loan documents with signatures every where.

08-11-2015, 10:57 AM	#12
mr02Z/28 Drives: 2002 Z/28,1968 Chevelle convert. Join Date: Oct 2010 Location: Phila.,PA Posts: 1,137 View My Garage	My thought is he hurried to buy the car, never knew what his Credit Score was and now he is paying more due to his Low Credit Score when the dealership actually pulled his Credit Rating .....

08-11-2015, 12:15 PM	#14
DeanH Drives: 2014 2LT/RS Join Date: Jul 2015 Location: Hot Springs, AR Posts: 59 View My Garage	When I bought mine out of state. I walked in with the check from State Farm made out to the agreed upon price (Car Only). no way for anything to be "hidden". Worked out much better than the going through the Finance Manager chamber of horrors and confusion. __________________ My mods so far: Removed front license plate bracket. Reflective Concepts White bowtie overlay. Last edited by DeanH; 08-11-2015 at 01:09 PM.