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It’s really unfortunate that you got scammed in a situation such as this.
The same thing happened to me few years back and it seems to happen everyday to many people as well.

We all know that the Dealerships goal is to sell as many cars as possible, at the highest margins possible, while the buyer’s goal is to get the best deal possible on their next car. Of course, Dealers win most of the time, but that should not be the situation.

Today there are many websites and blogs that talk about the automotive industry and teach you step by step how to avoid such situations. We all know that It’s our responsibility to protect and educate ourselves to insure that we know exactly what to look for when haggling with dealers.

I did consulting for a company called MyCarBiz.com, which is an online market place for new car buyers and sellers. They actually developed an interesting system that takes you step by step though the car buying process, but it’s all done online.
You can even buy a copy of your credit report from their site.

For those thinking of purchasing a new car, I definitely recommend at least checking this site. I am not recommending this site because I worked with them, it actually works. My brother bought a car with his girlfriend on the site and they saved over $2,800.

I understand it might be a bit late for you, but for others I strongly recommend getting a copy of your credit report and checking out the various online auto sites, I believe there is a list of the top ten somewhere. It’s also important to know what financial institutions think of you before applying for any sort of credit.

Basil
MyCarBiz  

You might want to change the title of this post to 'failed to do research'. First, your credit rating (and interest rate you pay on the loan) has nothing to do with the price of the car. They are two separate transactions. You are buying the car from the dealership...not the loan!

You do your research, offer a fair price and then look at the financing options. You can arrange financing through the dealership but they are probably going to make a share of the APR as a fee for finding the loan (just like a mortgage broker) or you can spend the time looking for something yourself...and probably won't find the same programs that dealers have access to.

I am related to the car business and go on a lot of these forums trying to advise consumers. Most consumers think 1)ALL car dealers are out to screw them, 2)car dealers have more markup than they really do, 3)car dealers are supposed to discount cars below their cost. None of this is true. They are in business to make money, just like every other business out there.

I made a bad car deal several years ago. I didn't know it was a bad car deal until I did my research after the fact. I didn't start bashing the dealer...I didn't blame them for not offering a discount...I took my lumps and learned my lesson. Now, when I buy a car, I have all my research in place and make a fair offer. It's a fast, easy transaction for everyone and leads to more satisfaction on both my part and the dealers part.

You're only 25. Take it as a lesson learned and stop bashing other people for your mistake.  

JKH2003:
Goes back to the whole research thing.  In todays world it takes about 5 minutes online to find out your credit score.  About the same time it took him to register here and post his "The big bad car dealer took advantage of me" story. And besides what is the reasoning that you have good credit "for your age"  age means nothing, as a matter of fact it is against the law to base a lendind decision on the applicants age.  It is all beacon score driven.

If you haven't guessed I am in the car business.  I am a Finance MGR at a Ford Dealership.  Been here 12 years.

People never cease to amaze me.  The consumer lies more then the dealer does.  And nothing irks me more then when I see people come into a public forum complaining they were ripped off.

90% of these people (first time buyer/credit challenged) have one thing in mind and that is getting a car.  They don't care how.  Then a few weeks later they are talking with friends about it and they find out there friend got a better deal and now they are embarressed so now all of the sudden it is the dealers fault.  That same dealer you thanked 10 times for getting you financed and in a car in the first place.

Car dealers are a retail businees to make money, we are no different then Sears JC Penny's, Target or any other retail outlet.  The only difference is that 99% of the people will go into sears and pay 300% profit on a couch but cry like a baby if they pay 3% on an auto.  And have the nerve to ask the dealer to give up there hold back and dealer cash.  Then to top it all off, after they spend 6 hours negotiating over $500 they have the nerve to complain that the process takes to long.  If you want a quick car deal the prices are marked clearly on the window of each car.

Well said dude! The general public should wake up to reality re: car buying
Did you get a steal on the last pair of shoes you bought, how about that
suit? what was the thread count on that puppy? Have you purchased a home
lately, or re-negotiated a mortgage? Whoa, are you sure you are not paying
too much at the dollar store? Deal with someone you trust, it's only the
media or some jerk neighbour or friend that needs to impress on you that
they are  better than you when it comes to what? everything? Get on with
it!  

@ JKH2003   Ford Manager.  

What are you doing in retail?  Your disdain for your employer’s customers is obvious. Do yourself (and Ford’s clients) a favor and get out of the retail business. If you stay in the service industry your bound to run across human fragilities.

“The consumer lies more then the dealer does.” So you’ve confirmed that Ford and other dealers lie to consumers as a common business practice. I believe that’s what dirtdevil_1 is asserting.

“Car dealers are a retail businees to make money, we are no different then Sears JC Penny's, Target or any other retail outlet.” Yet another misleading statement… buying a vehicle is a major purchase for most people yet dealerships act like their running a third world country bazaar. The buying public would be thrilled if they could purchase a car with the same confidence and ease we have when we buy an item at Target. We could count on a good selection, good prices, a quick check out and a fair return policy if something is not satisfactory.


The premise that clients should begin a transaction in which they and the dealers dispute the price which will be paid and the exact nature of the deal is ridiculous.

Price the vehicles, stop the foolishness, and compete on price and service.