Southwest Kia of Rosenberg - My girlfriend's car was stolen by this dealership

This is exactly right - the 'Yoyo' part.

A Pontiac dealer out on I-10 did the same thing to me back in '01, and it pissed me off so much, that's when I researched and found that book Don't Get Taken Every Time, and in the book it was described almost VERBATIM, not only to my situation, but to the other peoples' stories here in the thread as well.

They CAN do it if it is in the contract. But even if it's not, they are never above lying to try to rip you off.

This all is one of the main reasons why I have ZERO sympathy for all these whining car manufacturers and dealers who have been moaning and begging for handouts - they have been in the business of deliberate institutional ripoffs for 70 years, and they deserve whatever bad thing happens to them, including going belly-up.

And think about this for a second - as bad as car dealers are, think about the home-buying experience. You buy a 35k car and make $400 payments for, oh say 6 years. Ok, now look at buying a house that's five times as expensive (a little on the low end, but that's my point). Ok, shouldn't you be able to just multiply your payment by 5 (2,000 per month) and have the house paid off in 6 years too? Can't afford $2,000? Ok, drop it down to $1,500, which is more typical. Extend the time to ten years. That should more than cover the difference.

Someone want to explain why that loan takes 30 years? It's because the system was designed to rip you off.


bah.

Much much hatred for sleazy car dealers who pull this crap. And like a previous poster said, don't use their financing anyway, just use your own bank or credit union - you'll get better treatment, and the dealership will be out of that loop.

 

It doesn't have to take 30 years. Those aren't the only loans available.

If you have a lot of excess monthly cash, you can certainly pay off a $175,000 house in far less than 30 years by making extra principal payments, or just get a 15 year loan instead of a 30 year loan.

 

My recollection is that, in Texas, a car deal becomes final and binding upon the purchaser accepting delivery of the vehicle.

 

I was told that there would be punch and pie.

 

Exactly.

The 30 year loans are out there because most people do not have financial resources to pay for the house in less time. As much as people want to b**** about mortgage companies, without them people would largely not be able to buy a house.

 

So what's the deal? Are we trashing this place? Rosenberg is far away.

 

You go get Vera.

 

Not to sidetrack this but it does work that way if you use math - ie. it's not the "system". A 0% interest loan on 35,000 over 6 years is a $486 payment. The 0% loans are usually for a short period (<=3 years) because they do want they money back asap on 0% loans because they aren't making any money on them - in fact they are losing money because there money is tied up and most likely depreciating over time. If you were to get a 0% rate, your payment on $175,000 (5 x $35000) over 30 years would also be $486. But a more realistic rate of 5% puts that same loan payment at $563 on $35,000 over 6 years. On $175,000, the 5% rate on a 30 year would be $939. Dropping it to a 10 year payoff would be $1856. Things you may not be taking into account is that many home mortgage payments include more than just P&I - things like property taxes, home insurance and possible PMI. Those get tacked on top of your P&I payment on the house but they are not applied on a car payment. Tack your car insurance payment (there is no annual property tax in most states that apply to cars) on your car P&I then you are measuring apples to apples.


ok - back to the thread.

Sorry to hear about the hassles. Car dealers of all kinds have earned their rep. I have found a few honest ones but there are way too many like these that make car buying a nightmare. I would think that over time it would catch up to them and people would go else where causing them to go BK but there are just too many people that need cars.

In addition to your current task list, you could try picketting them. That would hit them where it hurts. Personally I'd be leary of buying a car if someone is picketting because of a bad experience. But I don't know the laws as to what you can say on a sign and where you can picket. Don't want to add to your stress by getting you in trouble but I can guarantee that they would not be happy if you were out there on a Saturday telling your story. In fact, I'd help you but I'm a 800+ miles from Houston. But I think you could come up with more than a few bbs friends to help out.

The TV idea is also a good tool to get to these tools.

 

how did this end. I hope you punked the dealership!

 

That's what I was thinking, but maybe its her credit...

BJ, that sux...i hope you get some sort of recorse, but I suspect you'd have to go to small claims court...what a bunch of BS!

 

Why don't we all show up there and waste their time one day?

 

Weird, almost exact thing happened to my cousin at a Nissan dealership on the South side of Houston. He had car for almost a month and already talked to finance company. Turns out they sold the car to cheap and wanted to renegotiate. He drove car to lot and that was his first mistake. By him going there he was not allowed to leave with the car. Cops came and since they had keys it was now there car. He ended up getting his down payment back a few weeks later after calling different managers.

 

Yeah, so what happened with this story? I hope it has ended well.

 

David McDavid? Would not surprise me at all. One of, if not the WORST stealerships in the Houston Metro area. Just horrible at everything they do.

 

What a terrible interest rate. I'd be glad they took my car back.

 

I too would appreciate an update......this is a very interesting tale, and educational for some people who might face the same situation.

DD

 

Well you can actually end up making money off of this, good thing is, when you sue, you can include your legal fees.

 

Unless you're this guy and are well versed in lawyerings

Spoiler

you shouldn't be talking about legal issues.


Filibuster...