Why the car that was listed for $7,200 (Mazda Protege LX) ended up to $9,100?

Question

The dealer said that the plate number costs + additional cost + emission testing + safety testing..Is this true ? When I was approved on their financing; it was $2,300 down and 300.00 a month for 3 years or 36 months. Interest rate is %9.25. Is correct..Help !!!!

2002 Mazda

Its a 2002 Mazda

2 hours ago
http://www.trader.ca/powerpage/details.a...

this is the dealership.

Listed Price: 7,200.00
Title transfer,
18 months warranty,
Plate number fees: All I know that it went up to $9,000.00

Then I just had a call from them and asking me for a $2,300 downpayment and $300.00 a month for 36 months (3yrs). Thats for 9.25% interest.

When I calculated everything, it came up to almost $12,800 total. I mean should this be a red flag ?

Yes I did sign an agreement and I was kinda force to sign it. Can I Back out from the agreement ? They made me pay $200.00

Answer 1

That sounds very typical. The dealer lists one price, but then by the time they've thrown all the extra fees and charges on top of it, it usually ends up a couple of thousand more. This is the same at all car dealers, whether you are buying used or new. If this is your first time buying a car from a dealer, I can understand your shock!

But, hey, for what it's worth, what you've listed here sounds about right. It doesn't sound out of the ordinary to me.

Answer 2

yes the like to hide that. did you sign purchase agreements yet. Tell them you are only going to pay8300 for the car then go from there. 1 other thing on a 3 year you should have a rate of 6.5% check with a credit union. i bet your dealer got you in that loan too.
good luck

Answer 3

yes that sounds about right.you got to throw in tax,tag and title and the interest could take it up another couple of g'sss, so yeah. what year is it. i had 95 protege. pretty cool little car and good on gas.