Also posted to /r/askcarsales
I think I'm in quite a unique situation here.
I bought a brand new 2017 Honda Accord LX on July 1st for about $18K, which is about a $4K discount from its MSRP. The salesman said it was discounted for being on the lot longer than usual and also having 75 miles on it from previous test drivers. No big deal, right?
The dealership general manager just called me today explaining they do routine internal audits and that my purchase was randomly selected. He then continues explaining how it was discovered that there was a previous test driver who had gotten into a fender bender causing $3,000 worth in cosmetic repairs on the front bumper. He insisted that everything else beyond the bumper (engine, filter, etc.) was fine and it was ONLY cosmetic. He said he had no idea how salesman let this slip through the cracks.
After I confirmed with him that I was never made aware of this repair during the sales process, he put two resolutions on the table:
- Trade my car in for another brand new one, free of charge
- Keep my car, but get additional compensation
He also invited me back into the office so I can look at the repair invoice in person and would be open to considering alternative resolutions outside of the 2 options he put on the table as well. I didn't ask how much the compensation would be before I hung up, but I assume its negotiable.
Here's my main question: whats the best option where I can squeeze as much value out of this situation as possible? Edit: I don't mean "squeeze as much value" as in being unfairly advantageous. I mean I want to figure out which option is the better long term economical decision.
Background info: I made a $4K down payment with 1.9% interest over 72 months. My monthly payments are $260. I bought this car because Accords retain great value and I plan to drive it for 10+ years.
Pros of Option 1:
- Peace of mind that that I now got exactly what I paid for.
- I have notched in over 2,000 miles on the car since I bought it and I could start over for free. (I mean its 2 months old, its still in perfect condition anyways)
Pros of Option 2:
- Collect the compensation to help relieve some of my lingering consumer debt which would in turn relieve the stress of the monthly payments on the car.
Can any of you think of a good Option 3?
My other questions:
- How serious is the cosmetic repair and would it really affect the long term value of my car?
- Would the repair even show up on Carfax.com?
- What would be a reasonable price to ask for if I went with Option 2?
- I really do appreciate the honesty coming from the general manager, however, I wonder if this could technically be grounds to sue? Edit: Ok, this was a bit dramatic I guess. I do not want to sue...I'm very inexperienced when it comes to buying cars and I have no idea how serious of an offense this is by the dealership. I was wondering if the GM reached out to me only because he wanted to cover it up somehow) I appreciate any and all advice!
Submitted September 12, 2017 at 07:33PM by SlimTim222 http://ift.tt/2h1wcBu
