I just went to a used car dealership yesterday ( Saturday 11/15/14) and bought a car. After all the negotiating I said it was a deal and started signing papers. I really really love this car but I had a pit in my stomach when I was signing the papers. Hardly anything was filled out and when I would question that I was told they'll fill it in for me and I'll get a copy of everything. I was already preapproved by a bank for a 6yr loan at 2.7%. The dealership said I had to go through them for the deal and I agreed as long as I was given the same rate. I was told yes and the salesman showed me what his sale manager wrote: $20,500 principle for 72 months would be $312. But I used a loan calculator on my phone and for a $20,500 loan at 2.7% for 72 months was coming out to $308 a month. I told the salesman to go back and ask for the breakdown because I was getting a different monthly payment. He left and came back and said the calculator I used most likely included fees. That didn't sound right to me so I questioned about the rate to make sure it was 2.7% and he said yes. Then I was taken to the finance person. After declining everything she offered I finally signed the rest of the documents and I noticed it said 2.99%! So I told the woman that I was told I was getting a 2.7% apr and that I was preapproved for it already and they were matching it. She looked confused and asked what bank and when I told her she said -hmmm that's one of the banks we use. But then she said I had the best rate. Mind you my experian credit score was 850 (I have very good credit). But at that point mostly everything was signed and they were getting ready to close so we just continued. I finished signing the papers and left. I didn't take the car because I have a lease I'm turning in to a different dealer in a few days and I want my plates back. Anyway I just took out the documents I signed to look at them and I noticed they are all dated 11/7/14. Did the dealership misdate them on purpose? Is this some kind of trap? I just googled this and read about dealership backdating scams but they talk about signing a second set of contracts and the dealership backdated those to the original contract date. But in my case these are the original contracts! I was just there last night! What could the reason be for the dealership dating them as 11/07/14?
Is this a red flag? What should I do? I also gave them a check for $3,000 and I wrote the date on that. I'm supposed to be meeting the salemans on Thursday so I can give him my plates and he can register my car. Then I'll drive him back to the dealership and finally have my car in my possession.
Please help. Any advice is greatly appreciated.
Thank you.
Is this a red flag? What should I do? I also gave them a check for $3,000 and I wrote the date on that. I'm supposed to be meeting the salemans on Thursday so I can give him my plates and he can register my car. Then I'll drive him back to the dealership and finally have my car in my possession.
Please help. Any advice is greatly appreciated.
Thank you.
