What is the name of your state?NY
My boyfriend and I were trying to buy a new car. We went to a Ford dealer last week. We saw a 2005 Mustang. The sticker said $22,850 and they are taking our current car (Nissan Altima 2001) as a trade in for $7K, we still own Americredit $9775 so that means that we needed to add $2,775 to the final amount that needed to be financed since the dealer is only giving us $7K for the Nissan. On the agreement, contract or little yellow paper it says the price of the new car is $26,200 that means the dealer is charging more than the MSRP or Invoice price, then the took the $7K for our trade in, then they added taxes, dealer's fee, inspection fee and the "Total cash Price delivered" says $20,863.50 and then $300 was deducted since that's our deposit to get the car. Well, they kept telling us that they couldnt approve us for that amount of money or any bank will give us the loan. So my boyfriend went on Lendingtree.com and applied for a car loan. He got 3 replies. He could get up to $28K approved. We called the car dealer today and they are saying that we need to get approved for $29K because we need to add the amount we own to Americredit for the Nissan, but they are already giving us $7K for that car. Basically, they want to add almost $9k to the amount written on the contract. We dont' understand how can a car dealer do this. They basically dont want to honor the agreement we have and instead of them making 5K on their Mustang, they want to make over $10k. We know that a lot of people want the new Mustang, but can the dealer get out of this agreement that the "buyer" and "seller' signed last week? Can we sue them? What can we do? Please help!! Thank u!!
My boyfriend and I were trying to buy a new car. We went to a Ford dealer last week. We saw a 2005 Mustang. The sticker said $22,850 and they are taking our current car (Nissan Altima 2001) as a trade in for $7K, we still own Americredit $9775 so that means that we needed to add $2,775 to the final amount that needed to be financed since the dealer is only giving us $7K for the Nissan. On the agreement, contract or little yellow paper it says the price of the new car is $26,200 that means the dealer is charging more than the MSRP or Invoice price, then the took the $7K for our trade in, then they added taxes, dealer's fee, inspection fee and the "Total cash Price delivered" says $20,863.50 and then $300 was deducted since that's our deposit to get the car. Well, they kept telling us that they couldnt approve us for that amount of money or any bank will give us the loan. So my boyfriend went on Lendingtree.com and applied for a car loan. He got 3 replies. He could get up to $28K approved. We called the car dealer today and they are saying that we need to get approved for $29K because we need to add the amount we own to Americredit for the Nissan, but they are already giving us $7K for that car. Basically, they want to add almost $9k to the amount written on the contract. We dont' understand how can a car dealer do this. They basically dont want to honor the agreement we have and instead of them making 5K on their Mustang, they want to make over $10k. We know that a lot of people want the new Mustang, but can the dealer get out of this agreement that the "buyer" and "seller' signed last week? Can we sue them? What can we do? Please help!! Thank u!!
