Ripped off? Yup...

Discussion in 'Motorized Vehicles' started by CanadianDude, Jan 18, 2012.

Thread Status:
Not open for further replies.
  1. CanadianDude

    CanadianDude Notebook Deity

    Reputations:
    507
    Messages:
    1,476
    Likes Received:
    2
    Trophy Points:
    56
    My younger brother recently bought his very first car. He's 23 years old and works a full time minimum wage job. Here are the details of the deal:

    2009 Honda Civic LX w/ 45000 miles @ $14 990 CAD - Honda CPO.

    He financed the car for 72 months and his monthly payment came out to being $377.30 including all taxes, fees, etc etc. I think interest was 6.99%. This was all in writing on the sales agreement, which, he showed me after he signed it.

    I told him he got taken for a ride, spun backwards, and then some. I asked him if he had even thought about what the total of the payments were, or if he had noticed the additional charges like the extended warantee, car life insurance, the $1000 tire insurance, the $1500 rust proofing that were all listed in the agreement, albeit in small print. He says "No, but the finance manager was such a nice guy."

    I don't know how he got approved by Honda Financial. He is a college drop out working a dead end job and he did NOT need a co-signer at all.

    He just showed up one day in the Civic.

    Anyway - case in point - dealers are always out to get you any way they can and the uninformed buyer is literally a gold mine. They are making big bucks off this Civic, and many other Civics I'm sure.
     
  2. usapatriot

    usapatriot Notebook Nobel Laureate

    Reputations:
    3,265
    Messages:
    7,363
    Likes Received:
    14
    Trophy Points:
    206
    Yeah, he got ripped.
     
  3. Tsunade_Hime

    Tsunade_Hime such bacon. wow

    Reputations:
    5,413
    Messages:
    10,722
    Likes Received:
    1,203
    Trophy Points:
    581
    Well...dealerships are in the business...of making money not selling you cars.
     
  4. CanadianDude

    CanadianDude Notebook Deity

    Reputations:
    507
    Messages:
    1,476
    Likes Received:
    2
    Trophy Points:
    56
    No need to state the obvious - I am well aware of this.

    I'm just amazed at my bro's stupidity.
     
  5. houstoned

    houstoned Yoga Pants Connoisseur.

    Reputations:
    2,852
    Messages:
    2,224
    Likes Received:
    388
    Trophy Points:
    101
    MOD EDIT: I don't want to see such things posted here!

    REAL EDIT: buying humor.
     
  6. usapatriot

    usapatriot Notebook Nobel Laureate

    Reputations:
    3,265
    Messages:
    7,363
    Likes Received:
    14
    Trophy Points:
    206
    You can probably by a new car for that amount in Canada, in the US you can for sure (Hyundai Accent, Kia Rio, Toyota Yaris, Ford Fiesta, Nissan Versa).
     
  7. Tsunade_Hime

    Tsunade_Hime such bacon. wow

    Reputations:
    5,413
    Messages:
    10,722
    Likes Received:
    1,203
    Trophy Points:
    581
    You'd be surprised how well Civics hold their value. It's the model year that drives up the price, mileage no so much. My friend traded in his 2007 Civic Sedan for 10 grand for his 2011 Camaro. He bought it used for 14. You can probably get a base Fit or a used Fit Sport for that much (maybe it's called Jazz in Canada).
     
  8. Thierry19

    Thierry19 Coffee enthusiast

    Reputations:
    1,458
    Messages:
    1,543
    Likes Received:
    122
    Trophy Points:
    81
    The Honda fit is also called "fit" up here!
    Here in Quebec we have the OPC (Office de Protection du Consommateur), I am not sure if there is something similar where you live, they could be able to help your brother.

    It blows my mind how people get ripped off with monthly/weekly bills. As you might know, Best Buy now offers the UPP (Ultimate Protection Plan), which is pretty much the same as their Protection plan, but adds the services fees (like the initial installation, the Anti-Virus and all). The plan cost goes from 19.99 to 39.99 a month, for 24 or 36 month.
    How expensive is that? Yet people jump into the wagon before even do the math.
     
  9. James

    James Notebook Evangelist NBR Reviewer

    Reputations:
    521
    Messages:
    410
    Likes Received:
    0
    Trophy Points:
    30
    Holy crapola!

    I'm not here to compare vehicle models and what not (because everybody has their own opinions), but I just got a new 2011 Dodge Avenger Mainstreet for ~$17,500 and my payments are not even near that amount. I'll be paying ~$250/month for 72 months after taxes, fees, etc. Then again, I turned down all of the extra dealer crap.
     
  10. usapatriot

    usapatriot Notebook Nobel Laureate

    Reputations:
    3,265
    Messages:
    7,363
    Likes Received:
    14
    Trophy Points:
    206
    That's just plain ignorance on your brothers part, but hey, you learn from your mistakes and now that he has been notified of his costly error he will be less likely to make it again in the future! It's probably too late now that he signed off on it. :)
     
Loading...
Similar Threads - Ripped
  1. Baqir
    Replies:
    12
    Views:
    1,141
Thread Status:
Not open for further replies.

Share This Page