Mega Auto Outlet Scammed Me

The Bait

I saw a Ford truck that was listed at $18,900 (all numbers rounded) on megaautooutlet.com. On or about May 5, 2023 I went to the address for a test drive and fell in love with the truck. I had a Cadillac to trade in for $10,000. I should have financed $8,900 plus warranty and tax etc. The Finance Manager showed me the expected numbers for financing, and I accepted the deal.

While working on processing the loan, the Finance Manager said it would be easier for them to buy my Cadillac, and then use it as a down payment instead of a trade-in credit.  Not knowing the difference, I said fine.

After signing all the additional paperwork, they took it away for "copying". They then handed me a folder that supposedly had all my paperwork.

The Switch

It is my fault. I do not deny that I did not check the folder close enough. The contract was not in the folder. I found this out when I went online to make my first payment. It was twice as much as expected. I checked the account, and it was to finance $23,000, which is around what it would be before subtracting my $10,000 down payment. I looked for the contract in the folder, under the seats, in the glovebox, everywhere. Nothing. However, I was operating under the impression this was just a clerical error that would easily be remedied.

I called the Finance Manager and said my account was missing $10,000.  She said she would look into it and call me back.  2 days later I called again, and she was out with a family emergency. Called again and she was out for a different reason. Called again, she finally answered and passed me to her manager.  I told the manager that I was missing my deposit. He said no, it's right on the contract. I said I didn't get a copy and could he please send me one. Reluctantly, it was emailed. The first one they sent me was WITHOUT MY SIGNATURE. When I looked at it I nearly passed out.

The Agony

The purchase price was $28,400! With the other stuff added on, it came to $33,000! And there it was, my $10,000, subtracted as a down payment AT THE END, to leave $23,000. This meant I was paying taxes on the FULL PURCHASE price, instead of having the purchase price reduced BEFORE taxes!

Once I caught my breath and calmed down, I asked how the purchase price jumped nearly $10,000. His reply: That's the interest THEY charged me for THEIR loan, that they then SOLD to a finance company. I calmly explained that's not how it works. He said this is how it's done in the auto business and who am I to tell him how to do his job. Still staying calm, I explained that he doesn't get to sell the loan with the interest, because he only had the loan for a day. He said again that's the way it's done, that I can go check any other dealer and see the same thing. Trying one more time, I tried to explain that under his way I'm paying double interest on the same loan, to them AND to the new lender.

He got irritated that I was questioning him, cut me off and hung up.