Sullivan Pontiac dealer relly *^&^@# us over - 986 Forum - The Community for Porsche Boxster & Cayman Owners

Paul · 03-25-2007, 04:59 PM

Here's some info:

http://www.vertex42.com/ExcelTemplates/balloon-loan-calculator.html

http://www.paranzasoft.com/help/pages/caBalloon.html

djomlas · 03-25-2007, 05:44 PM

well the payments ended up being 208 dollars a month for 48 months, and then a 7000 dollar payment at the end if you want to keep it.
now me and my parents went to get her a car, not lease it, so we would obviously say something if we heard lease in any way.

Brucelee · 03-25-2007, 05:48 PM

If you signed the deal you are likely in a hole (depending on the state).

You probably should run this by a lawyer, who should know if you have a legal remedy.

Clearly, most of us are NOT in a position to give you good advice.

Good luck!

Cloudsurfer · 03-25-2007, 06:00 PM

That is exactly a balloon payment loan, commonly called things like "Smart Buy" by GM. The ones I've seen give you the option to either pay the lowered payment like a lease and then turn the car in, or pay the balloon payment at the end and keep the car.

While it sounds like you clearly didnt get what you had wanted, you're looking at the math incorrectly here: When you wanted to pay say $13k for the car, if you financed that over say 48 months on a normal car loan, of say 8%, that winds up being a payment of $317.37 for a total of $15,233.66. Now, being that this is GM, if you have decent credit you should qualify for 0% financing or whatever current promotion they have, and at the end of the day you're not going to pay much interest on a $13k car anyway, but you cannot look at the sum of the payments on a car and compare that to the price of the car. In this case, the deal clearly doesnt work out being anywhere near attractive. For some, the reduction in payment of roughly $100/mo is enough to overlook the fact that one would be paying a $7k balloon payment at the end, but anyone remotely wise in their finances would recognize that this is not a good deal.

That said, I would first call the dealer and talk to the GM, if that doesnt get you far enough, call Pontiac and/or GM corporate consumer affairs and file a formal complaint against one of their dealers and/or consult your state's attorney general. A firm letter from an attorney would likely end this situation if you have a friend who would be willing to write it.

I would first call and talk to the GM nicely, but firmly, and explain that it appears one of the sales or financing gentlemen did not take care of your purchase properly and ask what he's willing to do to make things right. You might wind up with the car even cheaper after the mistake.

Patrick

MNBoxster · 03-25-2007, 06:36 PM

Hi,

Go here: http://www.ag.state.il.us/consumers/auto.html - this speaks Directly to your issue. Good Luck!...

Happy Motoring!... Jim'99

djomlas · 03-25-2007, 06:44 PM

Jim,
i see the issues the site talks about, but how does that help me?
contact her and see what she says?

MNBoxster · 03-25-2007, 07:12 PM

Quote:

Originally Posted by djomlas

Jim,
i see the issues the site talks about, but how does that help me?
contact her and see what she says?

Hi,

Yes - obviously you are not alone. Contact the AG and file a complaint, they are duty-bound to investigate it and this will give you leverage with the Dealer.

A couple of points though - don't drive the car - the Dealer can charge you wear and tear - usually exorbitant for a car they need to take back. Also, write to the Dealer stating your issues and send it certified to the GM, not the Salesman (the AG will probably insist on this prior to acting on your complaint). Contact the BBB and send them a letter, turns up the heat slightly and helps end this dubious practice - help the next guy.

I'm not making any guarantees about any of this, but you need a starting point (assuming you wish to return the Car or change the agreement to a purchase) and these are the most logical ones...

Happy Motoring!... Jim'99

jeffsquire · 03-25-2007, 08:00 PM

Quote:

Originally Posted by djomlas

Jim,
i see the issues the site talks about, but how does that help me?
contact her and see what she says?

_______________________

Before you do anything talk to them first. If that doesnt work then speak to the manager. If that doesnt work write a letter to the dealership and cc it to regional and national headquarters. Call the dealership, regional and national headquarters to confirm they've recieved your letter.

This is potentially bad business for them even though you presumably signed an arms-length contract (meaning you werent "coerced" and such). Give them a deadline and tell them you will seek "alternate remedies available by law" if they don't respond to you.

remember, THE SQUEAKY WHEEL GETS THE GREASE.

Ray · 03-25-2007, 08:16 PM

I had to take a dealership to small claims court ... they called 2 days before to settle... FYI Situation was similar in regards to "misleading".

MNBoxster · 03-26-2007, 08:48 AM

Quote:

Originally Posted by jeffsquire

_______________________

Before you do anything talk to them first. If that doesnt work then speak to the manager. If that doesnt work write a letter to the dealership and cc it to regional and national headquarters. Call the dealership, regional and national headquarters to confirm they've recieved your letter.

This is potentially bad business for them even though you presumably signed an arms-length contract (meaning you werent "coerced" and such). Give them a deadline and tell them you will seek "alternate remedies available by law" if they don't respond to you.

remember, THE SQUEAKY WHEEL GETS THE GREASE.

Hi,

Great Advice! I assumed they had already tried to reverse the deal with no-joy and was seeking advice on how to proceed to the next step...

Happy Motoring!... Jim'99

PS @ DenverPete - there is a 3-day Return Consumer Protection Law in Illinois for purchases over $500, but Auto Sales are exempt - go figure - never underestimate the power of a Strong Lobby!