I bought a Hummer today and I traded the Altima in... I wasn't planning on to, but I sort of had to therefor I didn't know what the value of it was and I was ready to wrap up the deal as it was like 10:30p when they told me i needed to trade my car in. Well I traded it in and they gave me $1700 less then what KBB shows for my car... and I put it on FAIR condition...not GOOD or EXCELLENT but FAIR and almost $3000 less than what was on edmunds with the condition as average.... not outstanding not clean, but just average ... when I know tha my car is above average... Is there anything I can do about it? I still have the keys to the altima because i had so much junk in it and didn't wind up leaving the dealership until 11pm. Don't you have like 24hrs... if you're not satisfied to return the car? or is the trade-in a done deal?
There is definately a cooling down period in which you can return a car. I'll see if I can find anything but I thought it was 48 hours (not sure about Loisiana) Not sure how the tradein effects it though
A deal is a deal, unless the new car is a lemon. But that isn't the issue here... You actually didn't get screwed that much with the trade-in price, you will never get even close to KBB for a trade-in.
did you sign any papers? no paper, no deal... if you did, then read the documents - any mention of a cooling off period? if there is, is there a penalty? otherwise, i would think that you're stuck...
You should be given the option to return. As for your trade. Most dealers don't go by the KBB value. They are only interested in getting the most money. The best thing to do is work out a deal for buying your new car...and then once those numbers are set, introduce your trade. Tell them you would like 3000 for the car. If they say no, then walk away...simple as that. You may get a phonecall later from the sailes manager later that day asking you to return. I have some links on my gouging blog for Car Buying tips...the website is an ABSOLUTE MUST READ before you buy a car: http://www.pricegouger.com/blog/ I saved a BUTTLOAD when I bought my 04 maxima.
did you sign any agreements with the dealership? some dealerships do try to screw the sh*t out of you i will admit it.
There is no "cooling down period" for purchasing anything in the US, unless you made the purchase away from the dealers normal place of business (they came to you at your home, tent sale, etc.). If you came to them, you bought it. What did you check for trade in? You did check the KBB trade in value right? Not private party or retail? Also, you've got to consider other things like the cost of clean-up, maintenance, tires, other repairs, etc. that come out of the trade-in value. Also, consider the fact that if it's a new Hummer dealership, they're probably not going to sell your car at their lot. They'll likely take it to an auction and unload it there... you've got transportation and auction fees to come out of the trade-in then. Did they force you to do it, put a gun to your head? Buyer's remorse is quite common, the rules are in place to protect the dealership from such things.
I am pretty sure you have 48 hours with a car dealership in the U.S. at least here in oregon they have that in the contract.
That really sucks...We have one here and the only way you can lose it is if you sign a document waiving your rights
There may be a state law in Oregon, though there are no Federal laws. I'm a car dealer in Georgia, so I've got alittle backround in this.
I heard of that laws, ut do not know if they apply in LA. I do understand the fact abuot all the things that may be needed to be done, but $1700 diff. from the KBB value and almost $3000 diff. from the Edmunds value is a lot. I wouldn't want to trade the Hummer in I just want them to fix that, if not I guess I may have to suck it up. I did sign all the papers, but the financial manager didn't submit them. She said she was giong to do so today. They didn't even know how much I owed on my Altima to pay it off because it was so late and the banks were closed. I called my attorney and he said he thinks it's 72 hrs, but not exactle sure; he said he is going to look it up and get back with me.
I am not taking sides on this, I was just stating what I think is true at least in Oregon. I like the idea since buying cars is a huge purchase and many people buy on feelings and really can't afford it or get talked into buying something they didn't need. However, the dealer isn't the one necessarily at fault, but some guys and dealerships are very high pressure and lie through their teeth about everything there is to do with buying a car. ie: because of your credit we could only get you the 25% in house loan. Let me talk to my boss and see if I can get you this special deal. (LOL)