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In 2008, I was going through a rough period in my life. I was recently divorced and without a car. I wasn't sure I could afford a new car, so I went to Wetzel Used Cars (part of a much larger auto group)to look at used cars. I picked outa car, described my situation to the salesmen and bought a 2003 Grand Am. I left there thinking I had gotten a good deal.

In 2010, they sent me a letter telling me I should come and talk to them about trading my car for a new one. I did and was offered $3500 for it in trade. I left there thinking they were crazy.

This past week, I got another letter, but I went to a local Indianapolis dealer. They appraised my car and asked why I owed so much on it. When I told him, he showed me what the car was worth now, in 2008 when I bought it and new. He said I was taken.

I paid roughly $13,000 for the car. In 2008, book value was about $6900. Newthe car was roughly $18,000. I paid $13,000 for a 5 year old car! The Indy dealer offered me the same $3500 though.

The salesmen told me they were going to take care of me and boy did they. Be very wary of buying a car from this dealership. And in case you thought it was just used cars, the car they tried to sell me last summer was a GM Program car. It had 5000+ miles on it and he was willing to take $400 off the sticker price. He said there just wasn't any margin on cars these days.

I am stuck owing $9700 on a car worth $3500. By the time I get it paid for, if it lasts that long, it won't be worth anything.

There are a lot of auto dealers out there. This group owns a number of dealerships in the Richmond Indiana area. It is not a mom and pop operation. Find another place to buy your cars. Hopefully you won't end up in the same position I am in.

Monetary Loss: $6000.

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Anonymous
Dayton, Ohio, United States #603410

Really?Did you do ANY research?

At ALL?

I just bought a BRAND NEW Hyundai from them at $25 UNDER Kelly Blue Book Fair Market Value AND they threw in a $40 dinner (while we waited on the paperwork), a First Aid kit, and their paint, rust, and leather protection ($595 value).

Dude - SERIOUSLY - next time you shop for a car, take a 12 year old with you.I think you will get a much better deal!

Anonymous
#320264

I got a 89 sunbird I will sell you...Runs better than anything you have ever driven in your life..

$7700 and its yours..

I will be the bank too..Call me 1-800-ur-***

Anonymous
#320262

Your *** *** didnt know better? Idiots like you are why this country is in the shape it is...

Anonymous
to Common Sense Trevor, Wisconsin, United States #603560

Wow...what an ***.I graduated from college and am very informed consumer, usually.

In this case maybe I was not.

But I am not the reason the country is in the shape it is in, *** such as yourself with little regard for.others is.Sorry, call it like I see it.

Anonymous
#289092

The price you paid for the car no doubt includes a huge bank fee hidden inside.Most of the secondary lenders are now going to this since the maximum interest rate in Indiana is 21%.

also your payoff is high for two reasons. Most of your payment is going to pay interest and the hidden bank fee, banks won't a dealer disclose these fees to you. The have to absorbed in the sale price of the vehicle.

That's why people with bad credit need equity going into a deal.In the form of a free and clear trade or cash down.

Anonymous
to Dennis Trevor, Wisconsin, United States #603561

I do not have bad credit and my interest rate is 8%.I did buy an extended warranty which added some to the price.

The dealers here in Indy told me what I should have paid for the car. I normally rely on the dealers and have always gotten good deals, until now. I couldn't even use my GM discount.

I am not the only one that has had issues with dealership.I will never use them for anything, but it is entirely an individual choice.

Anonymous
to me Alexandria, Indiana, United States #687998

Manufacturer discounts only apply to new vehicle purchases.Also, it is very easy to find the value of a used car online.

Kelly Blue Book is the gold standard for this, but there are many others.

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