Reed Motors — Downpayment rip off
I saw an ad on Craiglist regarding a 2004 Nissan 350z at Reed Motors here in Phoenix, AZ priced listed at 13k+ and 69k miles on the car at March 2011. I called the dealership and told the sales person that I am very interested. Due to my downpayment of only 900 dollars only and bad credit I highly doubt I was going to get it, but my only good credit is my job. I've been in that job for two years and I make good money every month, but doesn't mean I am rich. I have other expenses, but I wanted a nice car and I know I can afford it heres the bad part. Since I only have 900 downpayment the salesman told me that I needed a total of 2100 downpayment. He still took the 900 down and told me that I needed to come up with the rest in 2-3 weeks. And if the bank calls me a week after I bought my 350z he told me to tell the bank that I did not put 900, but 2100 down. So thats basically lying. I told the salesman that you just made me lie to the bank and he said no, I did not tell you to lie thats basically what you are required to put down. So when the week that I had to pay the rest of the down, I did not have the full amount of 1200 dollars. I only had 640 dollars and that was my last money for the week. He told me to just keep the 140 for gas and lunch and he will take 500 which I thought I SERIOUSLLY NEEDED TO PAY THE 1200 FULL AMOUNTH THEN OUT OF NOWHERE SUDDENLY HE CAN TAKE SMALL PAYMENTS which was rather odd?????????? I asked many other salesman about this from other dealerships and they told me that he can't do that. Basically you don't need to pay him since Reed Motors has been funded by the lender, you do not need to pay the rest of the down payment. That salesman is just trying to pocket the money. Then I asked this question to the salesman at Reed Motors, did you guys pay the 1200 for me and so now I owe you guys? He didnt really answered me, but he told me if I don't pay the whole amount of downpayment he will buy the contract back from the lender. I told him about mid April to the end of April I will have some extra cash and I dont pay I believe he will try to cancel my contract and buy it back. Can he really do that??????
And the worst part is that he connected me with one of the most shadiest financial lender which is Lobel Financial and I've heard many many many bad reviews about them from Consumers as well.