I've had my 01 L for about 3 weeks now. I get a call from my salesman saying "there's a problem with the financing on my truck" He went on to say that the bank draft check was only approved for $2000 less than our agreed price and that I owe them the balance of $2000. WTF! The bank draft check was for a minimum of $29000 and max of $32000. Well, the final price was $31400. I called the loan company and they told me "the dealer filled in the amount, cashed the check and that's all we know. You were approved a max of $32000 and we would have loaned up to that amount" "they are the ones who must have made a math error" I know what the error is; I had to pay $2000 to get out of the 00 L and they goofed and didn't add it into to total amount to write on the bank draft check. Here's all the main details as it is now:

1. My 00 L trade has been paid off by the dealer. I confirmed this today with my credit union.
2. As far as the loan company is concerned, they have the lien on the truck, everything is honkey-dory.
3. The dealer made a $2000 math error on the total amount and filled out the bank draft check for $2000 less than should have been.
4. Now, they want me to cough up 2 grand to make right their mistake.

Here are my concernes:

1. I didn't make this mistake; yet, I'd like to make it right.
2. I got a killer interest rate of 7.35% and borrowing from my credit card would be way more than that. Why should I pay for their mistake!
3. I would be willing to agree to pay them the $2000 over the 60 months. I really doubt they would do this.
4. I don't have 2K to give them out of the blue.
5. The loan company told me there's not much they can do because the check is cashed and the loan is in effect. I thought they might be able to redo the contract for the $2000.
6. I've got a felling this is going to get nasty.

What do you all think I should do when I call the dealer Monday? Here's a pic of the contract. The amount they filled out the check for is $29,362.98 where they should have added the $1,997.27 that's shown just above to that amount and didn't. The amount they should have put into the bank draft check was $29,362.98 + $1,997.27.



[This message has been edited by BadBolt (edited 04-29-2001).]

 

An acronym you might use Monday comes to mind.

STBY = Sucks to be you

Unless you signed a contract stating you would pay X and you didnt, you are OK.

Doug

 

First of all, you will pay at least $2000 in interests & taxes. They made the mistake, and a dealership is a business so they can write it off as a loss. I think you got a lucky push. Tell the dealership to talk to their sales accountant that wrote in the wrong amount.

 

If all the signed contracts are fulfilled then it's their problem. They get the "L" from Ford for about $28k plus kickbacks based on sales so they made a profit.

But that is irrelevant. You have to live with you everyday so it is you that you have to answer to. The weight of the burden is your choice.

 

Now have a pic of contract to see. Opinions.

 

Well if you ageed to pay 31,360.25 then what do you think you should pay? Granted the dealer made a mistake but you have too live with the fact that you are now trying to rip them off by paying less than what you agreed on. They gave you a kickass price on the new 01 right?(27,683) Granted you owed 24,597.27 on a vehicle that they gave you 22,600. I think the 31,360 price for the 01 is very respectful. I guess the question is if the 2K was in the dealer's favor do you think they would make it right with you? If you say NO then take their money and run. Good luck and I hope you don't end up in court...even if you would win. Just remember you have too live with what your doing... Jeff

------------------
99.5 red Lightning
13.2@103
01 ordered on 3/17
hud@mc.net

 

It was their miscalculation. They took the 24k from the 22k and came up with a neg. number and then transferred it to the paperwork. It looks like your call. I wouldn't put myself out any extra expense to pay them, but over time with the same int. or zero int. Just my opinion.

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$$$$$$$$$$$$$$$$$$$$$$$$$
PFA
2001 WHITE LIGHTNIN'
353.4 HP STOCK
2001 Windstar Sport

SOLD-with $4K from FORD!
'99 WHITE LIGHTNIN'
#0873--1 of 866--

 

JeffsLightning

Did you read my post! I said I want to make it right. But, at the same time, I'm not going to pay more interest by getting an advance on my credit card to pay those goofs for making a mistake. 3% advance fee plus the 12.5% interest rate that starts acruing at the moment I get an advance.I know they're going to come at me with this angle. They are not going to want to amortize that 2K. They are going to demand that I cough up the cash. I'm not going to be handled that way. Sorry. I would be more than willing to give them their money; I'm just not going to be screwed with for something that's not my fault. I tell you this, if they do try to strong-arm me, I just may play their game.

 

Sounds reasonable.

------------------
Red '00 Lightning,
Power Surge Performance enhanced,
375 RWHP,
445 RWTQ,
12.974@104.818
Track Videos

 

BadBolt
Just curious, what dealer did you go through, if you don't mind?

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$$$$$$$$$$$$$$$$$$$$$$$$$
PFA
2001 WHITE LIGHTNIN'
353.4 HP STOCK
2001 Windstar Sport

SOLD-with $4K from FORD!
'99 WHITE LIGHTNIN'
#0873--1 of 866--

 

PFA

Southgate

BTW, have you run your 01 yet at Milan yet. Make sure to post. Sounds like you should do good. If you go to there any time soon, let me know.

 

Haven't been yet.
I'll be sure to post when I do finally get to go. Maybe a few of us can meet there.
Good luck with the dealer.

------------------
$$$$$$$$$$$$$$$$$$$$$$$$$
PFA
2001 WHITE LIGHTNIN'
353.4 HP STOCK
2001 Windstar Sport

SOLD-with $4K from FORD!
'99 WHITE LIGHTNIN'
#0873--1 of 866--

 

Wow, you paid 27683 for your 2001? *sigh*

Daniel

 

******

I'm sure I'd be out 2K; I going to keep an open mind about this. What pissed me off is that they lied to me telling me my finance company only approved me for $2000 less than the agreed price; when, the truth of the matter is that they made the mistake. Not a good way to keep a realtionship of trust. But, I guess that's the way dealers are.

95 Saleen S351

I've got a JDM chip coming as well as the infamous lower blower pulley. Once I get those on, to the strip I go. Not sure when. I am going to try and make Norwalk on the 18th; I've got two sisters that live a bit east of there. I remember last year about 7 L's showing up at Milan. BaBolt posted those pics. I saw about 12 Grand Nationals at Milan this past friday...all of them looked cherry.

 

That's a nice price for an 01. Was that the X price. Thats like $5000 less than I paid. If it was me, I would do the right thing, which is, spend the $2000 on mods:-)

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2001 Silver Bolt...
Adopted 3/24/01...
Red Line Water Wetter... Wet Okole's... Bedrug... JL Ram Air...
Chipless in NJ