About a year ago i was in desperate need of a new car. A friend of mine refered me to j.d. by rider.?

Question

This was the very first time i bought a car. I ended with a 1998 Chevy Lumina, priced for 10,000. The price seemed kinda steep, but after i was told that i could pay the car off in 2 years I figured i could afford 2 years. Well after my one year mark, i decided to rid the car. I called the car lot to see how much money i still owe,and to my surprise I was told i still have another 2years. I couldnt understand it, until I was told that with taxes everything added up to a whopping 15,000! I quickly checked my paper work, and found that i had intialed next to the 10,000 and the 15,000. Upon purchasing I asked about the 15,000, and I was told that, That "was" the price on the car, and that they were selling it to me for 10,000. Now Im stuck with a car i cant afford. How do i get rid of it? Do i trade it in? I cant give it back, because then they can sue. HELP ME PLEASE I BEEN SCREWD AND DON'T KNOW WHAT TO DO!AHHHHHH!

Answer 1

wow. Yea well sometimes desperate people do desperate things. Jd byrider is a franchise. I don't know where you live but they have a couple in Ny as well. you should fax your copy of the contract over to your attorney generals office's motor vehicle compaint department. Most Ag's have them or something close to that wording. The contract might not be legal. I can only guess it is. Have you paid on time? Has your credit gotten any better. If you let them take the car or stop paying for it you will loose the car and all the money you put into it so that should not be an option. Maybe you coud get the car refinanced by a real bank and pay it off early. Here is how I see it. I assume you put something down on the car. Jd by rider charged you for the car, the sales tax, the dmv fees. then they added the maximum allowable interest rate which is 24.99% in most states. so yes after its all said and done your paying 15,000 for a car that worth about 8 grand at the time. Its sad but in this country people who fall on hard times pay higher interest rates some times a lot higher. Your late on your credit card cause something happens and you can't make the minimum payment at 12% so the bank raises your rate to 20% as if that will make it any easier to pay. Its the same with car loans. Some people in the that type of "buy here pay here" business also call it "beats walking" or no more bus. You have to think next time how desperate your really are for something before you do it. Make a pack with the devil and ....

Answer 2

Unfortunately, there isn't much you can do if you signed next to the price. Although they told you that "was " the price, it will probably say otherwise on the contract. I'm sorry to have to say, this is an expensive lesson in reading a contract thouroughly before signing ANYTHING. I have looked at J.D. before and can say that the same car probably would have been about $6,500 down the street with the same condition. J.D. finances people that have defaulted on a car already or just all out have bad credit, they need to recover the costs. As you now know, the interest rates are significantly higher as well.

I would suggest you read through your contract and see if you can find anything that will help, although I'm sure its binding at this point. You can consult a lawyer to review the contract, but thats about it.

One last thought though, you said it was the taxes and all the "extras" that added up to the other $5k, this is WAYYY off. if the tax amount is that high, you could report them to the state tax commission and better business...although that will only be a complaint. If you are willing, I'd be interested to know what state you are in and more of the details with the numbers...You should have a break down on your paperwork, if you are willing to share that - email me and I will take a look (although no promises anything can be done to break it) What else brought the cost up 50%? It has to be more than taxes? is that the final cost with interest? Even that seems crazy... Email me if you'd like.

Answer 3

Call a lawyer, I had a similar problem with a car dealer and had to get a lawyer. Since he was a neighbor and I did work on his Corvette he took the case pro bono. My case was that they changed the paperwork after I signed it. So my copy had what I signed and their copy had different amounts that were added after I signed. The car dealer sold the note to a bank and the bank wanted their money. We had to take them to small claims court, but still the bank wouldn't back down until it got right up to the court date. They contacted the lawyer and said that they were still in the right but for good will they would forget about it. They also owed me a 100 for violating a code for not releasing the lien on my car within 30 days. They also paid that. The only trouble is with small claims you can't afford to hire a lawyer to fight it. In your case, 5000 is enough, there may be a problem if you initialed the copy you have but see what a lawyer has to say.

don't forget to call the BBB and file a complaint also.

Answer 4

stop making payments and let them repo it
but before you do go to a car dealer and get a car,
so the one from JD buy rite does not show up on you credit when they check it.
good luck.......