I went to Westborn chrysler to purchase a used vehicle knowing that my credit was not very good.But because I make a decent amount of money they would not turn me down.
Long story short a manager name Jeff Roekle. Tried to sell me a car blue book at $17,400 in excellent condition. But of course this car was not in excellent condition. So the price was $15,000 but then they wanted to charge me a 19 % interest rate and a $3,700 acquisiton fee plus the regular taxes and documentation fees and $1,000 down payment over a period of 72 months.
Bringing the total cost of a $15,000 car to $32,400. And they were giving me a good deal because my credit was poor and the banks lending practices have changed.
Buyers please beware of this dealership because they are going to tell you that in 7 months then in 12 months you can come back and refinance this car at a lower interest rate if you are not late 1 time over this duration.
Monetary Loss: $17.