Buying a car could be a stressful experience for some if you don’t know what you’re getting into. In New York, one buyer was looking to purchase a 2023 Honda Passport TrailSport but ended up agreeing to a deal that left them facing thousands of dollars in additional charges.
The buyer shared their experience on the r/carbuying subreddit. They explained that the SUV was originally listed for $31,164, but the total came to $34,012 after taxes and other charges. They had saved around $10,000 for a down payment but decided to put down $4,000 to bring the loan amount to an even $30,000.
Things then took an unexpected turn when the buyer met with the finance department and discovered the dealership added another $6,000 they did not need.
They also said they were preapproved for a 7.39% APR but ultimately received a 9.27% rate on a 75-month loan with monthly payments of $629. They ended up spending roughly seven hours at the dealership and admitted to not properly reviewing everything before signing off.
Buyer Questions the Add-Ons
Bought a car and was careless
by
u/sam_mcconell in
carbuying
According to the post, the buyer questioned the difference between their pre-approved interest rate and the rate offered by the dealership. They were told that preapproval rates typically increase once everything is entered into the system.
The buyer would eventually accept the explanation and sign the paperwork. They estimated that they could end up paying around $50,000 for the SUV.
Although they could afford the monthly payments, now they feel frustrated about spending far more than originally planned, leading to feelings that they were taken advantage of.
An Update Is Shared
The buyer eventually shared an update for everyone and acknowledged they had researched the car-buying process beforehand through videos and online posts. But they said the lengthy process made it difficult to push back.
They also said the extended wait may have contributed to their exhaustion and accepted responsibility for signing the agreement. They go on to explain that New York generally does not have a cooling-off period, so they can’t just go back and return the car.
They summed up the whole situation as a very expensive lesson, and they are lucky they can afford the payments. They emphasized to anyone looking to buy a car that if a deal looks bad, walk away since you’re the one paying.
Commenters Offer Some Advice
Other users left some words of advice for the original poster and encouraged them not to be too hard on themselves. They noted that dealership employees handle these negotiations far more often than most customers.
One commenter suggested that next time they should bring a stubborn friend or family member to help them fight the unnecessary charges.
Another commenter said they had a similar experience, explaining that they had researched the buying process and recognized some dealership tactics, but they still ended up signing away on a deal they weren’t happy with.
The original buyer now plans to investigate whether the add-ons can be canceled and if refinancing could reduce the loan’s cost.