I am paying far a car that at blue book value is 5,465 but I am paying 11,442.10. Can they legally charge me that amount?
2007-10-30 06:27:41 · 8 answers · asked by PENNY B 1 in Cars & Transportation ➔ Buying & Selling
They can legally charge whatever they want. Kbb.com is a commercialized website that sells ad space and has no true bearing in the market place. There are no laws that restrict the price of any vehicle sold.
If someone is willing to pay $1,000,000 for a new Ford Focus, then a dealership can charge that price. It's up to the buyer to decide if the asking price is within their range and a fair market price for that specific vehicle. Good luck and I hope this helps.
http://www.theautoevaluator.net/Resources.html
2007-11-02 07:28:22 · answer #1 · answered by The Auto Evaluator™ 7 · 7⤊ 0⤋
What do you mean you are "paying" $11,442.10 for it? Is that the total amount you are financing? Did you trade in a car that had a large payoff that you rolled into a new loan? Your question was a bit vague and the straight answer to it is yes..they can charge whatever they want for a car regardless of what book values say although I suspect you are looking at the total amount financed including a payoff and/or taxes, reg.fees and so on. If that is the case you should sit with their finance manager and ask them to show you how all the numbers get carried down.
2007-10-30 13:41:29 · answer #2 · answered by xcessjw2000 3 · 1⤊ 0⤋
A car dealer can charge whatever amount for a car they can find someone willing to pay. ALWAYS do your homework BEFORE you buy. There is no federal regulation of the automotive sales industry, and we don't need the feds telling honest car dealers how little profit they can make. Fair is fair, and you weren't treated fairly - now return the favor and tell everybody you meet not to buy a car from the crooks who sold you yours.
2007-10-30 13:35:08 · answer #3 · answered by bob_ber_down 4 · 2⤊ 0⤋
Charge double?? Maybe a crooked dealer might. But did you compare the car you are buying exactly to the blue book?? Consider all options, mileage, cleanliness?
2007-10-30 13:32:06 · answer #4 · answered by mommacat 4 · 1⤊ 0⤋
Go read up on free market economy. They can charge 5 times if they want..... as long as there's a fool willing to pay it.
Looks like they found their fool.
2007-10-30 13:32:09 · answer #5 · answered by Anonymous · 2⤊ 0⤋
They can charge whatever they want. Why you would even consider paying such a gross over price is beyond me.
2007-10-30 13:31:59 · answer #6 · answered by ColtsDude 3 · 1⤊ 0⤋
They can charge what they want, but it doesn't mean you have to pay it.
I would run far, run fast from that purchase.
2007-10-30 13:34:34 · answer #7 · answered by Flatpaw 7 · 1⤊ 0⤋
It depends, if you can sell it for $22,884.20 after you buy it.
2007-10-30 13:38:43 · answer #8 · answered by William H 5 · 1⤊ 0⤋