I bought my first new car, a Toyota Corolla, at Kenny Ross Toyota in Moon Twp., PA. The salesman I worked with was great, HOWEVER, working with their financial representative was one of the worst customer service experiences I’ve ever had.
He kept pushing the extended warranty. I told him NO THREE times. He was insisting that the warranty would only cost $1 or $2 a month, even though that figure didn’t add up. He finally came back with an offer that put the warranty at $200, instead of the initial $900. He showed me two figures, one with the warranty and one without. The one with the warranty was only $200 more. For that price I agreed to it.
When I was shown the final bill the list price for the warranty was $903, I asked him about it. He stated that in order to offset the $903 for the warranty he gave me a discount on the interest rate. I made the mistake of signing the papers (I should've walked away that point).
Once I got home I reviewed the paperwork and the deal didn’t make sense to me. I couldn’t understand how I had saved $700 with the adjusted interest rate. It was nowhere in writing. I went back to the dealership to see if I could get an explanation. I asked financial representative several questions about the numbers. He told me to “stop playing games”. He finally explained to me how he came to the numbers on the final agreement:
The car without the warranty was shown at an interest rate of 9.6%
The car with the warranty was shown at an interest rate of 7.4%
(He didn’t explain this to me until AFTER I had signed the papers).
If I would’ve know about those exact interest rates at the time I signed the paperwork I never would’ve taken the deal. I also would’ve shopped around for better interest rates if I had been quoted at 9.6%.
I asked the financial representative when I could cancel the warranty. He said I would have to wait 30 days before I could cancel it since the papers were in transit to the bank. (That wasn't true).
I called his manager the next day, explained the situation to him and told him I wanted to cancel the warranty as soon as possible. He told me I could come in and sign off on it that day, so that's what I did. The financial representative told me that the $903 would be taken off of the principal of my loan and it could take up to 3 weeks for the figure to show up on my statement.
Six weeks later the figure had not come off my balance so I called the manager and he referred me to the financial rep. I was told that sometimes it can take up to two months for the money to be taken off the principal.
Two and a half months after signing the warranty cancellation the money still had not come off the principal. Over a 12 day period I placed ten phone calls, left six messages, spoke to the finance representative twice, the manager once and had my father send an email to the dealership. None of my messages were returned. On October 29 I was promised a call back within 15 minutes of speaking to the financial manager. Two hours later I had received no word so I called and left a message asking him to call me. He never returned the message. On November 1st I spoke to the manager and he promised me a call back about the situation on Monday, the 3rd. I finally received a call back on Tuesday the 4th from the financial rep. He stated that the deduction would be processed that day and a copy of the paper work would be faxed to me.
When I received the paperwork from Kenny Ross Toyota it stated that only $703 (as opposed to the $903 promised) had been deducted from my loan. I called the financial representative again and was told he would look into it and get back to me. I called once again two days later and he told me that he would talk to someone in the leasing department on Monday about it. No word on Monday so I called yet again on Tuesday and he said he couldn’t help me and I would have to talk the leasing office. I left a message with leasing that day. I finally got in touch with them on Wednesday and had the remaining $200 deducted by that Thursday.
After canceling the warranty I had to place 16 calls to this dealership just to get to what they had promised me three and a half months earlier. (I would've went in person but my job required me to move out of state). I felt like I was being ignored in the hopes that I would just go away. Working with the financing representative was an absolute pain. He was condescending, manipulative and I felt like he was just trying to pull one over on me so he could get a few extra bucks.
The worst part for me is that in mid December of last year I sent my customer survey (with an attached letter) to Toyota detailing my experience. It's been five months and I haven't received so much as a "thanks for filling out our survey". It doesn't seem like Toyota cares about me as a customer.
This was my first new car and my first experience with Toyota. I should've known better when making the deal, but that does not justify the way I was handled by the financial rep. or Toyota itself. The car is very nice but to be honest I wish I would not have purchased it.