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Old 09-09-2013, 02:23 PM   #1
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First payment

So the other day I got my first statement/payment and what do we see? The dealer did not factor in our down payment in our financing so its like I paid a couple extra grand just because. Of course I assume the dealer is screwing me somehow and when we looked at the purchasing information there is 3 different numbers scattered throughout. Yes we are idiots and missed that somehow but the finance guy made A LOT of mistakes, he reprinted everything for spelling our names wrong, putting in the wrong social, wrong phone number, wrong salary info....he was a mess. Anyways hubby stopped by the dealer yesterday but was told he had to come back today to talk to a finance guy. They ended up calling this morning saying they saw their mistake and are sending us a check for our down payment. I am SO relieved.
Big thanks to Orlando Dodge Chrysler Jeep for doing the right thing!!!

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Old 09-09-2013, 03:29 PM   #2
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glad you got it worked out, now spend it on mods!

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Old 09-09-2013, 03:41 PM   #3
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glad you got it worked out, now spend it on mods!
Or use it to pay towards the principal as it should have been applied. Otherwise you get screwed.
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Old 09-09-2013, 03:46 PM   #4
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Or use it to pay towards the principal as it should have been applied. Otherwise you get screwed.
Unless the finance company is willing to reamortize their loan to reflect the down payment, they are still stuck with a larger payment. I'd have they redo the loan.
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Old 09-09-2013, 03:56 PM   #5
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Unless the finance company is willing to reamortize their loan to reflect the down payment, they are still stuck with a larger payment. I'd have they redo the loan.
Yeah, redoing the loan would make sense, unless the down payment was small. I'm not sure what effect it would have on their credit, even though it's not their fault.
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Old 09-09-2013, 03:58 PM   #6
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Which is why this is the first vehicle where I'm walking in with a check in hand...
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Old 09-09-2013, 03:59 PM   #7
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Which is why this is the first vehicle where I'm walking in with a check in hand...
Yea, that first payment sucks but its a nice feeling. This was first vehicle I ever bought outright.
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Old 09-09-2013, 04:02 PM   #8
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Yea, that first payment sucks but its a nice feeling. This was first vehicle I ever bought outright.
Oops, let me clarify... This is the first vehicle where I called around and financed the vehicle myself. I can walk into the dealer and just hand them the check without having to sit there for hours going over numbers and trying to avoid them attempting to slide something into the deal.
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Old 09-09-2013, 04:26 PM   #9
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Sometimes I think they do this crap on purpose. I have had a few dealers do this to me where they had to "reprint" the paperwork for one reason or another and the numbers are always different on the reprint. On this last one they didn't pay what we agreed to on my trade they only paid it off and had to figure out where the extra money went to until I asked them for my trade back since they didn't pay what my contract stated. Then I got my check. Anyway frustrating to see as I think it is a common "scam" they play just to see who catches them. It has happened to me no fewer than 8 times so I just don't feel like it is a mistake if you get my drift.
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Old 09-09-2013, 04:30 PM   #10
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Always check your paperwork before signing...
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Old 09-09-2013, 04:54 PM   #11
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Always check your paperwork before signing...
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Old 09-09-2013, 05:01 PM   #12
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Mistakes do happen and I would say most dealers will not screw anyone like that, hopefully. I know I've done paperwork and have left off something and the customer doesn't catch it and I do and then they are even more happy because their payment is usually less.
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Old 09-09-2013, 05:02 PM   #13
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Always check your paperwork before signing...
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Old 09-09-2013, 05:20 PM   #14
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A lot of [unscrupulous] dealers will make money from financing. Once the salesman has done his job of selling you on the vehicle, the financing goons take over and start throwing numbers at you with the intention of confusing you. This is no accident. You'd be amazed at how much money they make back after the finance department gets done with you. Any rebates or money that you negotiated off the price, they can easily make back by fudging the numbers and telling you this and that. Make no mistake, car dealing is a dirty business and you the customer, are powerless against them unless you have an accounting degree. They prey on the fact that you are happy as hell that you are closing on a new ride, so by throwing digits and rates and percentages and "taxes" and "surcharges" at you, they know you aren't going to stop them and question them, subsequently making yourself look like an idiot - which they depend on. However, if you do actually grow a set of balls during this process, they'll wave a hand at you and tell you "that's a mandatory fee, you can't avoid that"...then carry on where they left off without missing a beat. After all the paperwork is signed, you just allowed the dealer to take back all the money you negotiated off the price and probably payed closer to MSRP than the price you agreed on.The dealing is far from done just because the salesman hands you over to the financier. If anything you need to really put your guard up and pay very close attention to the numbers when they get talking. DO NOT be afraid to stop them and question ANY number you have doubt about. If you think there is something amiss, again, DO NOT be afraid to walk out the door and get a second opinion.
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Old 09-09-2013, 05:35 PM   #15
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Had a similar incident with mine just last week. Dealer tried to pull so yo-yo financing shenanigans and double my interest rate/cut the loan term after the ink was dry. I went in ready to give the thing back but it ended up working out in the end. Final interest rate was lower than when I started so even with the shorter term my payments only went up $10/mo. I'll pay down on it anyway, just annoying to have to go back in and sort through all the paperwork a second time.

Glad you got it sorted out for the better!
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Old 09-09-2013, 06:03 PM   #16
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I thought the finance guy was going to cry when I told him I was NOT going to buy the Mopar Platinum warranty like I have in the past and thats the end of it.

He tried once "Oh but we've got a really good...", I got up and walked out.

Told sales manager "Deal is off. I'm not signing anything, go get my trade in."

They knocked another $500 off the Rubicon, dropped me to 2.0% intrest rate and swore no more warranty or service upselling.
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Old 09-09-2013, 06:14 PM   #17
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Sometimes I think they do this crap on purpose. I have had a few dealers do this to me where they had to "reprint" the paperwork for one reason or another and the numbers are always different on the reprint. On this last one they didn't pay what we agreed to on my trade they only paid it off and had to figure out where the extra money went to until I asked them for my trade back since they didn't pay what my contract stated. Then I got my check. Anyway frustrating to see as I think it is a common "scam" they play just to see who catches them. It has happened to me no fewer than 8 times so I just don't feel like it is a mistake if you get my drift.
^^^that! Almost guaranteed they did it on purpose hoping you wouldn't catch it. Think they did the "right" thing? Heck no! They tried to cheat you. You called them on it and they didn't get punished. Thinking along the lines of teaching a young child... If the worst that can happen is that they have to give it back... They WILL keep attempting to cheat/steal! That drives me crazy! Should attempt to find others this has happened to and you'll likely find it's a common and purposeful behavior on their part!
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Old 09-10-2013, 06:25 PM   #18
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I welcome and and all questions when I am signing up a customer in the (as some one put it) "unscrupulous" finance office. It actually makes my job easier. Yep, I am one of those "goons" apparently. We can and do make mistakes, since we are human. However, leaving a down payment off the contract and paperwork completely is not a mistake. In fact, I would call that reprehensible. Unfortunately, there are bad dealers...but there are also good ones, which is what we strive for. Just as in any business or line of work, there are bad apples that ruin the good ones.

If anyone ever has any questions about their next purchase, I'd be glad to walk them though the finance office of another dealership and help you to know what to what to watch for.
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Old 09-10-2013, 10:10 PM   #19
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It all comes down to the dealership you work with and the people they employ. I have made mistakes and missed rebates and down payments spinning the paperwork. Honest mistakes that a human makes. An honest dealer will retype the paperwork as soon as the business office catches it. Any finance manager that has been in the business for any amount of time has also not collected the down payment check.
If you deal with a good dealer, they will always make it right.
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Old 09-11-2013, 07:22 AM   #20
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I am notorious at my dealership for forgetting down payments. So much in fact, my salesman know to ask the customer for me!

And just a few days ago, I forgot a certain rebate. When the paperwork went upstairs, it was caught by the office and will be mailed to the customer.
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Old 09-11-2013, 07:34 AM   #21
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A lot of [unscrupulous] dealers will make money from financing. Once the salesman has done his job of selling you on the vehicle, the financing goons take over and start throwing numbers at you with the intention of confusing you. This is no accident. You'd be amazed at how much money they make back after the finance department gets done with you. Any rebates or money that you negotiated off the price, they can easily make back by fudging the numbers and telling you this and that. Make no mistake, car dealing is a dirty business and you the customer, are powerless against them unless you have an accounting degree. They prey on the fact that you are happy as hell that you are closing on a new ride, so by throwing digits and rates and percentages and "taxes" and "surcharges" at you, they know you aren't going to stop them and question them, subsequently making yourself look like an idiot - which they depend on. However, if you do actually grow a set of balls during this process, they'll wave a hand at you and tell you "that's a mandatory fee, you can't avoid that"...then carry on where they left off without missing a beat. After all the paperwork is signed, you just allowed the dealer to take back all the money you negotiated off the price and probably payed closer to MSRP than the price you agreed on.The dealing is far from done just because the salesman hands you over to the financier. If anything you need to really put your guard up and pay very close attention to the numbers when they get talking. DO NOT be afraid to stop them and question ANY number you have doubt about. If you think there is something amiss, again, DO NOT be afraid to walk out the door and get a second opinion.

I don't know - it's fairly easy I think. purchase price, plus taxes
& registration fees = price paid for vehicle. take out any down payment and that's the price you're financing. If you're lucky enough to live in a state where trade-in's come off the top and reduce your taxable liability, then take that off the sale price, then add in taxes and fees.
Then it's a simple interest calculation over the life of the loan.
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Old 09-11-2013, 07:40 AM   #22
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I am notorious at my dealership for forgetting down payments. So much in fact, my salesman know to ask the customer for me!

And just a few days ago, I forgot a certain rebate. When the paperwork went upstairs, it was caught by the office and will be mailed to the customer.
I think you could use a checklist to use on EVERY deal. If one of those slip through you could be creating a very bad rep for yourself and dealership and could lose a lot of future business!
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Old 09-11-2013, 11:26 AM   #23
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I think you could use a checklist to use on EVERY deal. If one of those slip through you could be creating a very bad rep for yourself and dealership and could lose a lot of future business!
I get the feeling that he was being tongue-in-cheek here and is not serious.

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Old 09-11-2013, 12:02 PM   #24
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Actually, it was a rebate we never negotiated on a wrangler. We didn't know the customer had a competitive lease, which is a thousand bucks. The title clerk saw a registration in the deal jacket and realized the customer qualified for it. So its gonna be a bonus for them.
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Old 09-11-2013, 12:17 PM   #25
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Yea, that first payment sucks but its a nice feeling. This was first vehicle I ever bought outright.
But the last payment fells so good it calls for a party
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Old 09-11-2013, 12:22 PM   #26
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Did someone say party?!
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Old 09-11-2013, 06:11 PM   #27
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Please do not assume that I am chastising every financier at every dealership. The reason i wrote it as "[unscrupulous]" was to signify that they are not all bad, but there are "unscrupulous" dealers out there that will take full advantage of, for example, a young person with no car buying experience or someone who has a bad attitude and treats the dealer poorly. I had a fantastic experience at my dealership and I am recommending them to every person who will listen to me. The simple fact of the matter is, there are still old-school dealers out there that are not afraid to "make mistakes" with the paperwork and hope they don't get caught, and if they do? C'est la vie. They'll go after the next schlub. If you are honest and willing to treat your customers fairly and with respect, then kudos to you! I, personally, am old-school and I still look at dealers with a weary eye, but my last buying experience has taught me that there are good dealers out there and the times, albeit slowly, are a'changin' as far as car dealers in general go. The simple fact of the matter is that with such easy access to the internet, car buying is actually becoming somewhat pleasant, because you can go into the dealer armed with knowledge and walk out when they give you the runaround. This forces all the dealers to be more competitive.
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Old 09-11-2013, 06:33 PM   #28
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Then again some folks do like I did and forget to leave the dealership a down payment.....never gave them a check at all and they had done all the paperwork showing my down payment. They looked happy when I came in a few days later to give them the check.
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Old 09-11-2013, 07:18 PM   #29
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I am the OP's husband and will admit I feel like a complete MORON for not catching this the day we signed the papers. I read through all of them, and don't know how I missed it. I do not sign anything without reading it first. Obviously, with the millions of papers they give you, you do not literally read everything, you more skim or scan it.

It actually wasn't the down payment that they made a mistake on, it was that they didn't apply the credit (the difference from MSRP to what we agreed on). It just happens to be nearly the same amount as the down payment. I have a very slight feeling they did it on purpose to see if they could get away with it, but will say they handled the situation very well. They were upfront from the minute I walked in the door.

Yes our payment is now higher, but I am happy that we will get the money back. We intended to pay more anyway(even more than what the higher payment is), so I'm not really bothered by this. We will put the check towards the vehicle, as that's how it should have been. So we have a larger payment(will pay off faster, and not a concern), and lose out on the sales tax(~$140). Sucks on the tax, but in the grand scheme of things they made it right and $140 is small compared to the entire amount paid. It's not worth the time/effort(the dealer is far away) to get the $140 back in tax.
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Old 09-11-2013, 08:18 PM   #30
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Please do not assume that I am chastising every financier at every dealership. The reason i wrote it as "[unscrupulous]" was to signify that they are not all bad, but there are "unscrupulous" dealers out there that will take full advantage of, for example, a young person with no car buying experience or someone who has a bad attitude and treats the dealer poorly. I had a fantastic experience at my dealership and I am recommending them to every person who will listen to me. The simple fact of the matter is, there are still old-school dealers out there that are not afraid to "make mistakes" with the paperwork and hope they don't get caught, and if they do? C'est la vie. They'll go after the next schlub. If you are honest and willing to treat your customers fairly and with respect, then kudos to you! I, personally, am old-school and I still look at dealers with a weary eye, but my last buying experience has taught me that there are good dealers out there and the times, albeit slowly, are a'changin' as far as car dealers in general go. The simple fact of the matter is that with such easy access to the internet, car buying is actually becoming somewhat pleasant, because you can go into the dealer armed with knowledge and walk out when they give you the runaround. This forces all the dealers to be more competitive.
Like I said ... There are bad apples in every business. I am glad you had a good experience. No harm taken brotha.

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