Lester Glenn Auto Group Complaint - Deceptive selling and quoting of finance
TOMS RIVER, NEW JERSEY -- My wife and I were at your dealership on Thursday October 27, 2011 and met with you to discuss buying a vehicle.
After talking and reviewing details we agreed that you would research vehicles in our price range and keep us posted. It has been 6 days and we have not heard from you by phone or Email. Did you lose interest in us as a valued customer?
While there you explained to us the financing arrangements on a demo/used caravan.
The price was approximately $24,000. You stated that we could finance at 14% interest with $1,800 down and the payment would have been $545 per month. 545 x 72 months = $39,240 dollars. Wow. We are financing $15,240? What interest rate is that at again?
$24,000 / 72 months = $333.34 per month.
14% of 24,000 = $3,360.
3.360 / 72 months = $46.67
$333.34 + $46.67 = $380.01. How did you arrive at $545?
$164.99 x 72 months = $11,879.28 on top of the 14%
$3,360/14% + $11,879.28/50% = $15,239.28 or 64% interest?
You and David sat there and told us how much you wanted to help us. Is this how the dealership defines customer satisfaction? Can you please explain?
Mr & Mrs will not buy from you