In Nov 2016, I bought a car. The car was $9,500, and I put $2,000 down and financed the rest. There were apparently some hiccups with the initial rate I was given, and the BMW dealership I bought it from wound up financing me through a different company than the one we had agreed upon.
Well, I'm looking and I see the amount financed was over $12,000. But I got to looking today, and the loan term is 72 months, with payments at $238.18 a month.
That means a $9,500 car is going to have cost me $19,148.96.
What the fuck?!?!?
What in the HELL am I missing in this equation? I'm going to find all of the paperwork from the dealership when I bought my car, but I cannot possibly wrap my head around how this could be accurate. It's a nice little fuel-efficient car, but I bought it used.
Assuming this is all correct, and the dealership got me a worse loan than the one agreed upon when I signed the paperwork, do I need to contact a lawyer or something? Because this shit is clearly out of hand.
Submitted January 15, 2018 at 09:12AM by Jcorb http://ift.tt/2FDQ3Ct
