Big Country Ford Lincoln

by mirrorjranch on 04/14/2010

Recently, we were trying to trade in our old family car for a used car with fewer miles on it. We found one at this dealership that looked like a good deal, so we made the 1.5 hour drive on a Saturday to look at it. After a test drive, my wife and I were pretty happy with what we saw. Then the "dealing" began. I told the salesman exactly what I was able to put down on the new vehicle ($2000) and what I expected to get out of my old one ($825). This would leave me with having to finance only about $2100 for the new car. He consulted his sales manager and came beck with an "offer" of $2500 down and 18 months financing at $225/month (more on that in a minute). I again told him that I was only able to spare $2000 cash as a down payment and he tried to pressure me into putting the extra $500 on a credit card. I told him no. He went back to his sales manager and came back with another "offer" of $2000 down and 18 months at $225. I then told him that I could not afford a $225/month car payment and would prefer to have it extended out to 24-36 months. He went back to the sales manager, who then personally came out and asked me how much a month I could afford. I told him about half what they were offering. He and the salesman then went back behind closed doors. Awhile later the salesman came back out and proceeded to be "blunt" (his word, not mine) with me about this "deal" they were offering. He told me the $825 they were offering on my old vehicle was more than it was really worth (although this was Kelley Blue Book value for a vehicle in "fair" condition with igh mileage). He then told me his sales manager practically never offered in-house financing . . . only in very special situations. Now, let's look at this "great deal" I was being offered. All total, it amounted to financing about $2750 after tax, title, licensing, "dealer documentation fee" ($199 worth), etc. They were offering me 18 months at $225/month. That works out to $4050 total, or about $1300 in interest over 18 months. For those who care to know, that works out to an interest rate (APR) of about 54%. With the $2000 down I would have paid, plus what they would have sold my old vehicle for, plus this "deal," they would have cleared $6000+ on a vehicle priced at $4995. I left the dealership in my old vehicle. I had intended to shop the deal to some banks at home and see if I could get a better deal; but after doing the math on Big Country's "great deal," I decided to take my business elsewhere. If they tried to take advantage of someone like this on a "small" deal, makes me wonder what they would do on a higher priced vehicle. "Caveat emptor" with this dealership.

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