Back in 2017 my husband's car gave up living so we were in the market for another one. We heard great things about a local used car dealer so my husband made an appointment and I tagged along last minute. He really wanted a Rav 4, but it was above our wanted price of less than $10,000. He fell in love with one that was $13,500, which didn't seem like too much of a stretch for a good car, so I reluctantly agreed. I trusted that he had done his research and that he would know the loan process because he worked at a bank. He did not, and the dealer took it to their advantage. I just reviewed the paperwork today and I feel like an idiot. Here is what they charged us (rounded for simplicity):
$13,500 for the car
$700 in dealer fees
$700 for taxes/ licensing
$250 for an "included" warranty on the tires
$2000 for a 3 year warranty we never needed, pitched to us as "it's only $12 a month"
$3000 in "financing" fees
A bunch of random small fees
The total was almost $22,000 (not including the interest on the loan) for a vehicle with a KBB of $14,500 at the time.
To wrap it all up they pulled our credit almost 10 times each and sold our information to junk mail and spammers. I feel like an idiot that I agreed to this and that I didn't notice until now. I figure it's too late to do anything about it, but I would like to know how to walk into a dealership prepared so that this doesn't happen again.
Edit: formatting because mobile
Submitted February 26, 2019 at 09:42AM by beautifullybroken10 https://ift.tt/2EcQKCR
