I have a 700 credit score, with little debt, and a good income. I have a vehicle that CARMAX had guaranteed a trade-in value of $14000 one hour earlier. It's paid off. I had my heart set on a Jeep at the used car lot at Tate in Frederick, MD.
The salesman was nice, not pushing, and just about perfect. So, thank you for that.
When I got to the financing part, the finance manager did several things that were just awful:
1. He refused to let me see my credit report.
2. He refused to quote me any financing other than 72 months. I was looking for 60 months and have no issues making any payment. He tried to explain away saying, "You can just pay it off earlier then." In any loan, the interest charges are paid heavily in the beginning of the loan. A 72 month loan has far more interest to pay up.
3. He only offered me a 4.9 interest rate, which is ridiculous (since the average is hovering around 3).
4. He offered my $12000 on my $14000 certified trade-in.
5. After coming up $500 dollars on my trade in, the manager said that the offer was "only good for the next ten minutes."
6. He wouldn't come down on the price of the Jeep. It's America. We are supposed to haggle.
7. The finance manager and the sales manager yelled at each other several times. It was so bad I had to leave the room twice. The finance manager stated to me "I made a bad deal earlier, so I have to make up for it now."
8. While my salesman was out looking at my car, I asked the closest rep (who was just standing around) if I could have the keys to the Jeep I was interested in - just to go sit in what I thought would be my new car. The closest rep turned out to be the manager. Instead of just giving me the keys, he called in my salesman from what he was doing outside, to walk the five feet inside and hand me the keys off the key board. It was a jerk move.
9. The sales manager and the appraiser both smoked while they looked at my car.
10. The sales manager was about the rudest person I've every had the displeasure of meeting.
While the used car sales department of Tate Jeep in Frederick was exemplary, the finance department and the sales manager was atrocious. They were obviously trying to screw me over with the 72 month financing, my trade in value, and the interest rate. I don't mind dealerships making money. They were squeezing me for every single dime - and being very shady about it.
This was the worst almost car buying experience of my life. DO NOT GO TO TATE!!! They will screw you.
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