We got a pre-approval from Capitol One and Cornerstone had the right vehicle in the right price range. We looked at a vehicle a little over $16K with $4k down and we had a cheap trade in. Capitol one gave us a quote around $280 a month for 60 months as a payment after tax and title. After talking to the finance office, the salesman came back out to congratulate me and tell me I was approved. They payment was around $450 a month and they were able to switch it to 72 months instead of 60 months. I told the salesman that payment with the trade in and down payment would be over $30k+ loan, the numbers didn’t add up. I demanded to talk to the finance office. I went in to crunch the numbers with the finance manager. I found out the interest rate was much more than what I was quoted by Capitol one and the salesman also tagged on $5k worth of Gap insurance and bumper to bumper insurance. The finance manager had no idea I was putting down $4k and had a trade in. They basically would’ve pocketed the $4k and the trade in.
We finally got the numbers right and it came to around $240 a month for 60 months. The vehicle needed some cleaning, so I picked it up a few days later. The shop ends up losing the keys after the work was done and we were going on vacation the next day, so I just cancelled the sale.
Tips, I don’t recommend this place at all. If you are still willing to try it, make sure you do your homework and crunch the numbers. Make sure nothing you didn’t ask for is added onto the price. They can not make you buy insurance and insurance is not included. Also, gap insurance is much cheaper through your car insurance supplier. After saying no to bumper to bumper coverage, they cut it from around $4k to $2k, so if you want it, just ask for the cheaper price. Most of the insurance coverage price is commission.