We recently made the mistake of buying a Certified Pre-Owned Lexus at this dealership. Initially, it was a normal / average experience. We drove the vehicle and negotiated a price on a Saturday afternoon with salesman Joe Cardello. The dealership was closing, so we discussed financing arrangements and Joe and the finance guy that was there at the time said the financing rate would most likely be in the 3-4% range for 60 months based on our perfect credit, strong income, 20% cash downpayment, low-mileage late-model Certified Pre-Owned vehicle, etc. They mentioned that they worked with several banks as well as Credit Unions through the CUDL (Credit Union Direct Lending) program, and that the credit unions had great rates. We agreed to meet again on Monday to sign the papers. Upon returning to the dealership, we had the unfortunate experience of having to deal with Jose Ferreiras, another finance guy. Jose provided us with a loan at 5.9% for 60 months through Lexus Financial Services, telling us it was their "standard rate" and that it had increased lately due to the "Federal Rate" being over 5% now. He is likely referring to the Prime Rate, which is a variable rate that has very little bearing on fixed automobile loan interest rates, but he didn't seem to understand that there was little correlation. He said it was the best he could do, and if we didn't like the rate, all we had to do was agree to keeping the loan for at least 90 days and making at least 3 payments and then we could refinance it somewhere else on our own. The reason for the need to make at least 3 payments is to ensure the dealership gets paid their commission from selling a loan that is 2% higher than the lender's buy rate. I'm not sure it's legal for him to have instructed us that we had to keep the loan for at least three months, but that's what he told us. At the very least, it is unethical. We asked if he had shopped the loan with other lenders and he said no, Lexus is the easiest and it's what we use for all of our customers. We mentioned shopping other banks and credit unions as well as that we were told by Joe and the other finance guy (can't recall his name) that they use CUDL and would likely be able to get a rate of between 3-4% based on our perfect credit, strong income, 20% cash downpayment, late-model, low mileage certified car, etc. Jose told us there was nothing he could do, it was all approved and that was the deal. We asked Jose if he was adding any points to the lender's buy rate, and he replied, no. We learned in a subsequent conversation with Joe Cardello that they always add at least 1% to the buy rate on every transaction. Once again, Jose lied to us. Reluctantly, we signed the papers and left with the vehicle. On the drive home, we discussed and thought more about it and began to do the math and realized we had been misled and lied to by these people. So, we went back to the dealership to talk to Jose again. He once again said there was nothing he could do. He claimed that the lender (Lexus FInancial Services) had already booked the loan and funded them for it. I explained to him that wasn't possible seeing as it was Labor Day, a Federal holiday in which all banks and the Federal Reserve, which processes financial transactions such as the ACH transaction in this case, were closed, so no financial transactions would actually be able to be funded on that day. We asked him to cancel the financing and send our deal out to the other banks he works with, to which he said he couldn't. We asked him to cancel the financing and we would secure our own financing the next day for the car. He said he couldn't cancel it. We even told him to cancel the financing and we would pay cash for the vehicle, he again lied and said he couldn't cancel it. At this point, we were very frustrated, and knowing enough about how money moves, we knew we were being lied to on multiple levels. We then sent e-mails and called salesman Joe Cardello and General Manager Nigel Long. Joe responded several hours later and said he'd look into it "first thing in the morning" (today, Tuesday morning) and get the managers involved to satisfy our frustrations and rectify the situation. It turns out that "first thing in the morning" is 3:00pm at Ira Lexus of Manchester. Joe called and recycled the same line once again, that the deal had already been funded and there was nothing they could do. I expressed to him that due to his waiting all day long, it is likely that the deal was now funded. I told him I wanted the loan number and the payoff amount and we would be paying off the loan the next day. We were provided with the number for Lexus FInancial Services. Important to note, General Manager Nigel Long never responded to us. What a stereotypical used car salesman experience they provide at Ira Lexus of Manchester. Avoid this dealership at all costs. The only thing you can count on is misleading dishonest dealings with people of no integrity that are highly skilled at lying, deceiving, avoiding, deflecting, etc., all the while taking as much money out of your back pocket as possible without you knowing it.