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What do you guys think?

  • You got screwed

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The math is correct, I have no idea why you got taxed 11% but the math is correct.
I'm not very good with Finance, I just want know if I got screwed by the Finance or does situation below sound about right.

So I bought a Limited for 48890 + 2999 (platinum package) + 4992.32 (Tax)and I put 5252.00 Down at 2.99% for 72 Months. I have ended with a $879.00 in monthly charge.
Can you guys check if the finance played any trick? Cash Price didn't make any sense.
Here is Itemization:

View attachment 2875
 

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I'm not very good with Finance, I just want know if I got screwed by the Finance or does situation below sound about right.

So I bought a Limited for 48890 + 2999 (platinum package) + 4992.32 (Tax)and I put 5252.00 Down at 2.99% for 72 Months. I have ended with a $879.00 in monthly charge.
Can you guys check if the finance played any trick? Cash Price didn't make any sense.
Here is Itemization:

View attachment 2875
You need to page the adds up to the $59k. I know it’s obvious but that’s the answer
 

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I'm not very good with Finance, I just want know if I got screwed by the Finance or does situation below sound about right.

So I bought a Limited for 48890 + 2999 (platinum package) + 4992.32 (Tax)and I put 5252.00 Down at 2.99% for 72 Months. I have ended with a $879.00 in monthly charge.
Can you guys check if the finance played any trick? Cash Price didn't make any sense.
Here is Itemization:

What’s in the platinum pkg? You could of saved probably close to 8K by just getting an SEL with Convenience/Premium pkgs. It has most of what the Limited has with a few extras but you get what you pay for.

View attachment 2875
 

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2021 Limited AWD, Rainforest/Black
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Pretty sure it's the Hyundai Extended Warranty Platinum Package. They could have got it cheaper from other Hyundai dealers after the sale, but that's not really what the point of contention is here.
 

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So I got in touch with the Finance Guy, he broke it down this :

$48890.00 (Vehicle Price) +
$2999.00 ( Ext Warranty) +
$1800 (Other Aftermarket, this is a 7 year maintenance plan) These two items was disclosed as monthly payments of around $60 per month +
$695 (Admin Fee, Never disclosed)=
$54384.00
+4690.62 (Tax) $300 difference from the initial amount) (requested explanation)+
+75.00 (Title Fee)
+$273.50 ( Registration Fee)
+$10 (Inspection) =
59433.12
-5252 =
$54181 Cash Owed

But then he added $2999 again to this amount + smaller fees and he called $2999+$1800+Interest a Finance Charge

My Loan Pay Off is around $58000 + $5252 = 63525 is what i will pay for the car, if paid today.


Yes it looks like they screwed me big time.
I'd go back to the dealership and have them make it right. They need to reduce your amount financed by $3,829 (57980 - 54151). Show them where they added the extended warranty twice and have them adjust it out. If that doesn't work there is also a government agency that regulates dealerships. In California it is the Department of Consumer Affairs.

You should have financed $54,151 instead of $57,980. Due to charging you twice for the Extended Warranty plus an additional unknown amount of 830. I've purchased enough cars in my lifetime to know they are doing something underhanded. Good luck. Keep us posted if you pursue this further. (AND YOU SHOULD)

BTW, make sure the warranty is the HPP one Hyundai offers.
BTW2, you get 3 years free maintenance. Are you getting 7 additional years or just 4? Your big milestones are 60k, 90k, 120k. There are no major items for any of those. A lot of inspections and replacing brake fluid, filters, and oil changes. At 60k they inspect the valve clearance, at 97.5 they replace the spark plugs and at 120k they replace the radiator coolant and inspect the valve clearance. I think you are paying $1,800 for a lot of nothing, but I could be wrong. Here is the link. Hyundai Recommended Maintenance Schedules Is their anyone on the forum that can provide maintenance costs?
Bob
 

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Discussion Starter #47
I'd go back to the dealership and have them make it right. They need to reduce your amount financed by $3,829 (57980 - 54151). Show them where they added the extended warranty twice and have them adjust it out. If that doesn't work there is also a government agency that regulates dealerships. In California it is the Department of Consumer Affairs.

You should have financed $54,151 instead of $57,980. Due to charging you twice for the Extended Warranty plus an additional unknown amount of 830. I've purchased enough cars in my lifetime to know they are doing something underhanded. Good luck. Keep us posted if you pursue this further. (AND YOU SHOULD)

BTW, make sure the warranty is the HPP one Hyundai offers.
BTW2, you get 3 years free maintenance. Are you getting 7 additional years or just 4? Your big milestones are 60k, 90k, 120k. There are no major items for any of those. A lot of inspections and replacing brake fluid, filters, and oil changes. At 60k they inspect the valve clearance, at 97.5 they replace the spark plugs and at 120k they replace the radiator coolant and inspect the valve clearance. I think you are paying $1,800 for a lot of nothing, but I could be wrong. Here is the link. Hyundai Recommended Maintenance Schedules Is their anyone on the forum that can provide maintenance costs?
Bob
So I have been doing all communication with the finance using email for documentation purpose. Now I'm starting to learn about the extra service he phrased it as "Finance Charge" all the add ons except for the warranty. Because he initial told me the warranty was included. But when I saw the pay off amount, the agent straight up lied that it was included.

Updated Calculation
$48890.00 (Vehicle Price) + $2999.00 ( Ext Warranty) + $1800 (Tier, Dent Protection) + $2000 (Maintenance)+ $695 (Admin Fee)= $56384.00 + 4877.21(Tax) + 75.00 (Title Fee) + $273.50 ( Registration Fee) +$10 (Inspection) = $61619- 5252.00 (Down Payment) = $56367( Cash Owned / Finance Amount)



I ended up canceling AfterMarket & Maintenance, but there is a discrepancy

Actual Finance Amount Prior to cancellation $58049.92 - $56367 = $1868
 

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2021 Limited AWD, Rainforest/Black
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So I have been doing all communication with the finance using email for documentation purpose. Now I'm starting to learn about the extra service he phrased it as "Finance Charge" all the add ons except for the warranty. Because he initial told me the warranty was included. But when I saw the pay off amount, the agent straight up lied that it was included.

Updated Calculation
$48890.00 (Vehicle Price) + $2999.00 ( Ext Warranty) + $1800 (Tier, Dent Protection) + $2000 (Maintenance)+ $695 (Admin Fee)= $56384.00 + 4877.21(Tax) + 75.00 (Title Fee) + $273.50 ( Registration Fee) +$10 (Inspection) = $61619- 5252.00 (Down Payment) = $56367( Cash Owned / Finance Amount)



I ended up canceling AfterMarket & Maintenance, but there is a discrepancy

Actual Finance Amount Prior to cancellation $58049.92 - $56367 = $1868
This is terrible. Did they sneak the $1800 and the $2000 in on you? Absolutely unacceptable. I would never do business with this place and would advise others in your area not to as well.
 

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So I have been doing all communication with the finance using email for documentation purpose. Now I'm starting to learn about the extra service he phrased it as "Finance Charge" all the add ons except for the warranty. Because he initial told me the warranty was included. But when I saw the pay off amount, the agent straight up lied that it was included.

Updated Calculation
$48890.00 (Vehicle Price) + $2999.00 ( Ext Warranty) + $1800 (Tier, Dent Protection) + $2000 (Maintenance)+ $695 (Admin Fee)= $56384.00 + 4877.21(Tax) + 75.00 (Title Fee) + $273.50 ( Registration Fee) +$10 (Inspection) = $61619- 5252.00 (Down Payment) = $56367( Cash Owned / Finance Amount)



I ended up canceling AfterMarket & Maintenance, but there is a discrepancy

Actual Finance Amount Prior to cancellation $58049.92 - $56367 = $1868
Wow. Dent protection??? Cancel the HPP and buy it from Crystal Careau 800-833-5945 or 802-557-5772. You'll save about $1,400.
 

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Wow

When buying my Palisade, the Finance Mgr tried to sneak a 995 dollar Saxx Security system into the purchase contract. Luckily I went over the contract line by line and caught it. My blood boiled.

Too many dealers still try to pull shady S*#% like this
 

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This is terrible. Did they sneak the $1800 and the $2000 in on you? Absolutely unacceptable. I would never do business with this place and would advise others in your area not to as well.
All dealers are not the same. Before doing business you should check with the Better Business Bureau. Also there is a site called DealerRater.com that is very useful.

The sales manager at the dealership I negotiated with gave me a print out of the deal that I took home to go over line by line. I had three questions about charges that a phone call resolved.

I knew before heading to the dealership what my interest rates were and monthly payments were. Once in the finance office it was a matter of making sure that did not change. We have to sign a lot of paperwork in the finance office; take your time and read everything.

Very hard to change things after signing; although it can be done.

It never makes sense to finance extended warranties, and accessories. Pay for them separately or purchase later.

Just my humble opinion
 

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2021 Limited AWD, Rainforest/Black
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All dealers are not the same. Before doing business you should check with the Better Business Bureau. Also there is a site called DealerRater.com that is very useful.

The sales manager at the dealership I negotiated with gave me a print out of the deal that I took home to go over line by line. I had three questions about charges that a phone call resolved.

I knew before heading to the dealership what my interest rates were and monthly payments were. Once in the finance office it was a matter of making sure that did not change. We have to sign a lot of paperwork in the finance office; take your time and read everything.

Very hard to change things after signing; although it can be done.

It never makes sense to finance extended warranties, and accessories. Pay for them separately or purchase later.

Just my humble opinion
I understand that. My dealer was great. Did finance try to sell us on stuff? Sure. But, nothing this underhanded where it was snuck in the deal.
 

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Of my last 4 new car purchases, this was the one with the BS shady move, so I’m not painting all dealers with the same brush.

Yeah, once the contract is signed things could be set in stone, but I think exceptions can be made once it gets pushed up the chain.

Good luck
👍
 
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